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19 May 2023
Property registration earnings in Indore experienced a significant increase in April, driven by higher acquisition of residential and business properties. The surge in visitors to IT firms, offices, co-working spaces, and showrooms has fuelled the demand for both residential and commercial properties. Experts predict continued growth in the real estate market due to the demand generated by IT companies and commercial establishments. The recent reduction in stamp duty charges by the state government has made owning residential property in Indore more affordable.Read more
17 May 2023
Indore, known for its business activities, is planning to construct two additional IT Parks to attract more IT/ITES companies to the area. One of these parks is proposed to be built in the Electronic Complex, while the other is set to be located near the Crystal IT Park. The new IT Parks are expected to offer amenities such as co-working spaces, conference rooms, gymnasiums, restaurants, and accommodation for visiting clients. The MPIDC is striving to create an environmentally friendly infrastructure, with solar panels and direct sunlight provisions included in the design. The new parks are expected to accommodate more than 50 technology firms and help stimulate economic growth in the region.Read more
12 May 2023
Indore Municipal Corporation (IMC) plans to extend its rainwater harvesting initiatives to an additional 100,000 buildings this year, following promising results from last year's efforts. The plan is expected to increase groundwater levels and aid in water conservation. While no definitive scientific data exists yet, the trends suggest a positive correlation between rainwater harvesting and groundwater replenishment. The initiative is supported by legislative measures, making such systems mandatory in Indore, emphasizing the city's commitment to sustainable water management.Read more
03 May 2023
The Indore Municipal Corporation (IMC) has demolished a 65,000 square foot commercial structure constructed without the necessary approvals. The owner, previously issued a notice to provide required documentation, failed to comply, prompting the IMC to take action. The cost of the demolition operation will be recovered from the owner. As part of an ongoing initiative, the IMC Commissioner has also instructed officials to identify and issue notices for the removal of dilapidated structures within a week, ensuring the city's infrastructure remains safe and compliant.Read more
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28 Apr 2023
The Indore District Administration warned Vatsalya Builders and Developers to settle accounts with plot buyers within a fortnight or face strict action and FIR. The company was accused of selling property without T&CP diversion of the colony and not carrying out registration and stamp duty formalities. The company has been instructed to submit a demand fee at the T&CP department to get its clearance and carry out registration of plots in a set time limit. ADM and colony cell officials have been roped into the matter to ensure the affected people receive complete rights to the plots they have paid for.Read more
24 Apr 2023
The Madhya Pradesh Industrial Development Corporation (MPIDC) in Indore has announced the construction of a new IT Park on the Crystal IT Park campus. The new IT Park will span approximately 1.10 lakh square meters and will be available for tech firms to lease or rent. It will have a saleable area of approximately 65,000 square meters and the anticipated construction cost is around Rs 393 crore. It will also include additional amenities such as gyms, meditation rooms, and other facilities for the benefit of the employees.Read more
21 Apr 2023
The Indore Development Authority (IDA) board of directors has formed a committee to review the pending lease renewals of approximately 10,000 plots in Scheme-78 Aranya. The IDA also discussed the proposed master plan of Indore, approving several construction projects, including the development of a sports complex and a swimming pool. They have also resolved to develop four new development schemes in the current financial year.Read more
11 Apr 2023
The registrar’s office in Indore has reported a high number of daily property registrations, with close to 1000 properties being registered every day. The month of March has seen a significant increase in demand for residential apartments, plots, and commercial property, resulting in an estimated income of around Rs 350 crore from the sale deeds of properties. This increase in demand has been further compounded by a rise in the collector’s guideline rates.Read more
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