AB road: A prominent locality in Indore
With the eastern fringes of Indore, near the bypass region, witnessing a sudden surge in construction activity from the key real estate players of the city such as Ansals, Satya and Parsvnath, AB Road has emerged as a new district, ideal for both residential and commercial purpose. As per industry experts, the locality has played its card right, emerging as the hot spot for any kind of real estate activity on the eastern counterparts of the city.
Connectivity-The pillar of prosperity
Tagged as one of the sought after residential places in new Indore, AB Road excels in comparison to other localities on account of easy connectivity to bypass and main Indore. The locality further boasts of easy access to malls and prime locations such as Bombay hospital and Vijay Nagar Square.
Inter city travel to Bhopal and other urban sprawls is quite convenient from the locality, since the pass is just 3.0 km away. This adds to the overall credentials of the locality. The Devi Ahilyabai Holkar Airport is just 17.4 km from the locality while the Indore Junction Railway Station is 9.5 km away.
Appreciation
The price trends on AB Road have registered various ups and downs. In the 2Q 2013, the price of residential apartments in the area appreciated to Rs 2000 per sq ft, and reached to Rs 2200 per sq ft in the 3Q 2013. However, in the last quarter of 2013, property rates witnessed a slump and stood at Rs 2100 per sq ft. At present, a multi-storey apartment in the neighborhood is available in the price bracket Rs 2200- Rs 2400 per sq ft.
Although, market reports confirm that the area is not witnessing proper demand and supply, the proponents of the AB Road market quote that proximity to prime locations and presence of basic infrastructure such as Bhavans Prominent School, St Pauls Higher Secondary School, Softvision College, Shri Vaishnav Polytechnic College along with Bombay Hospital and Rajshree Hospital, will help the rates of the properties in the locality to catch up soon.
Rise in demand for a property in Indore has been fuelled by the city’s innate prosperity and the spurt in real estate activities that stepped in with the liberalisation wave in the early 1990s. With localities such as AB Road that promises a pollution-free environment and easy access to basic amenities, the real estate market of the city have added an interesting variant to the living experience in Indore. Furthermore, a 47 percent rise in population in the last decade has given way to a demand for nearly 100000 apartments in the city, and AB Road caters most of that demand.
