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Indore property


Historical Backdrop

Indore owes its early growth to trade and commerce, which is still a dominant feature of the city. It is the commercial capital of the central Indian state of Madhya Pradesh. The present city is about 500 years old. Till the end of 15th century, its original nucleus was a river side village which occupied the bank of river Saraswati. This area is now known as Juni Indore.

The area of the modern Indore city was a part of the Kampel pargana (administrative unit) during the Mughal Empire.Kampel was administered by the Ujjain sarkar (government) of MalwaSubah (province). The area was controlled by the local zamindars (feudal landlords), who accepted the suzerainty of the Mughal empire. The zamindars received the title of Chaudhari, which established their claim to the land.

The modern settlement was developed by Rao Nandlal Chaudhary, the chief local zamindar, who had an army of 2000 soldiers. Under the Mughal rule, his family enjoyed great influence and was accorded confirmatory sanads by the Emperors Aurangzeb and Farrukhsiyar, confirming their jagir (land ownership) rights. When Nandlal visited the Mughal court at Delhi, he received a special place in the emperor's court along with two jewel studded swords (now on display in the Royal British Museum under the family's name) and confirmatory sanads. Jai Singh II, a personal friend of his, gave him a special "Gold Langar" which guaranteed a special place to him in all the courts of India.

In 1818, the Holkars were defeated by the British during the Third Anglo-Maratha War, in the Battle of Mahidpur by virtue of which the capital was again moved from Maheshwar to Indore. A residency with British resident was established at Indore, but Holkars continued to rule Indore State as a princely state mainly due to efforts of their DewanTatya Jog. During that time, Indore was established the headquarters of British Central Agency. In 1906 electric supply was started in the city, fire brigade was established in 1909 and in 1918, first master-plan of city was made by noted architect and town planner, Patrick Geddes.

During the period of Maharaja Tukoji Rao Holkar II (1852-86) efforts were made for the planned development and industrial development of Indore. With the introduction of Railways in 1875, the business in Indore flourished till the reign of Maharaja Shivaji Rao Holkar, Maharaja Tukoji Rao Holkar III and Maharaja Yeshwant Rao Holkar.

After India's independence in 1947, Holkar State, along with a number of neighbouring princely states acceded to Indian Union. In 1948 with the formation of Madhya Bharat, Indore became the summer capital of state. On 1 November 1956, when Madhya Bharat was merged into Madhya Pradesh, the state capital was shifted to Bhopal. Indore a nearly 2.1 million city today has transformed from a traditional commercial urban centre into a modern dynamic commercial capital of the state.

Urbanisation and Demography

Indore is the most populous city in the Madhya Pradesh, with an estimated 2,160,631 residents as of 2011. As of the 2001 Indian Census, the city's population stood at a record high of 1,516,918, significantly greater than any other city from central province. Males constitute 52% of the population and females 48%. In 2010, the city had a population density of 25,170 people per square mile (9,718/km), rendering it the most densely populated of all municipalities with over 100,000 population in the Madhya Pradesh. As per 2011 census, the city of Indore has an average literacy rate of 87.38%, higher than the national average of 74%. Male literacy was 91.84%, and Female literacy was 82.55% In Indore, 12.72% of the population is under 6 years of age (as per census 2011). The average annual growth rate of population is around 2.85% as per the statistics of census 2001.

Indore is a dominant commercial centre and host multi-level market for maximum goods and services.Indore had GDP of $14,000,000,000 as of 2011. Indore is witnessing rapid growth owing to the new unambiguous Industrial Policy framework, good Investment environment,Infrastructure development and growth, Improved living standards, and High Educational standards. The city also host prestigious Global Investors' Summit which attract investors from 21 countries, including the US, Australia, Japan, Singapore, theUK, Germany and Finland.

Topography and Climate

Indore is located in the western region of Madhya Pradesh, on the southern edge of the Malwa plateau. It lies on the Saraswati and Khan rivers, which are tributaries of the Shipra River and has an average elevation of 553.00 meter above mean sea level. It is located on an elevated plain, with the Vindhyachal range to the south.

Indore has a borderline humid subtropical climate (climate classification) and tropical savanna climate. Three distinct seasons are observed: summer, monsoon and winter.Summers start in mid-March and can be extremely hot in April and May. The daytime temperatures can touch 48 °C (118 °F) on more than one occasion. Average summer temperatures may go as high as 40 °C (104 °F) but humidity is very low.Winters are moderate and usually dry. Lower temperatures can go as low as 2 °C (36 °F)-6 °C (43 °F) on some nights. Usually the temperature ranges between 8 to 26 °C during winters.Rains are due to southwest monsoons. The typical monsoon season goes from 15 June till mid-September, contributing 32-35 inches of annual rains. 95% of rains occur during monsoon season.Indore gets moderate rainfall of 38 to 42 inches (970 to 1,070 mm) during July-September due to the southwest monsoon.

General Understanding

Understanding Indore

Indore is well known as the business hub of Madhya Pradesh, with small Industrial satellite towns like Pritampura on its outskirts and presence on the Agra-Bombay corridor provide it the relevant infrastructure. Indore gets bisected west-east by the Agra-Mumbai Rod (AB Road) which runs from north to south. The Indore bypass road outskirts the city towards the east and forms an enclave with the AB road. Indore is laterally bisected north-south by the Super Corridor-MR 10 roads, and SH 59-Kanadia roads. The east and west Ring Roads form a perimeter of the inner city. Areas east of AB road and along the Bypass constitute the new Indore.

AB Road

This is the backbone of Indore all major arterial roads either originate or cross this road. Major residential colonies and projects have connectivity on the AB road. The new BRT corridor runs all along this road.

AB Bypass Road

The bypass road has seen some major developments in the past 10 years. Quite a few townships by some reputed builders have come up. The entire stretch of the road is also emerging as an education hub. It is well connected with the AB road through arterial roads. New projects all along the road from the Ujjain end right uptoMhow are coming up.

MR 10

Main Road 10 happens to be the heart of indore now. It connects the Super Corridor across the AB road, Ring Road to the Bypass Road. A number of projects are coming up in and around this area in Napania, Pipliya Kumar and Pipliya Kalan.

Khandwa Road

SH 27 comes from Ujjain and goes towards Khandwa, across Indore. A few projects are coming up on this road within the city limits of Indore, as well as on the periphery, away from city limits.

Super Corridor

The corridor links up Dhar road to Ujjain Road and further to the AB Road. The corridor is in its final stages of completion. A number of projects are underway here at various stages of construction. A few SEZ and other zones have been notified where TCS and Infosys are coming up and therefore this area holds a lot of potential in the future.

Market Analysis

Sr. No. Locality/Sector Status Market Rates Advantages Disadvantages
1. AB Road Existing residential complexes. Well developed 2800/- 3200/- #Backbone of the city.
#Excellent location. Well connected.
#Shopping Malls and educational infrastructure.
#Congested .
2. Bypass Road A No. of existing projects and townships, new projects coming up. 2900/- 3600/- #Excellent connectivity
#Away from the city congestion..
#Certain pockets not developed.
#Security concerns.
3. MR 10 Well developed, within city limits. New projects coming up. 2600/- 3000/- #Excellent connectivity.
#In the heart of the city
#Narrow internal roads.
#Ill planned.
4. Kanadia Road Few projects coming up on the periphery of the city. 3400/- 4000/- #Away from city. #Limited infrastructure.
#Will take a few years to come up.
#Security concerns.
5. Khandwa Road Few Projects coming up. 3200/- 3400/- #Well Connected. #Limited infrastructure in few pockets.
#Will take a few years to come up.
#Security concerns.
6. Super Corridor Area under development. Land still being acquired 3000/- 4000/- #Well connected
#High potential area.
#Limited infrastructure.
#Village pockets exist.