Q:Why has the property market not developed to its capacity considering the presence of Automobile Manufacturing, Pharma, Textile, Namkeen, Chemicals, Gems & Jewelry, IT etc. present in the city.The prices have not appreciated nor big projects have come up. what are the reasons?
Latest Answer: Hi all, Indore is witnessing great opportunities in real estate market. The real estate in colonies like Aurobindo Hospital, Sukhilya, Indore-Ujjain 4-Lane Highway and MR10 will provide maximum growth in next 5 Yrs.
Latest Answer: That’s not exactly how the ratio deal works. See, earlier the project duty was 3.8% of the construction cost. This percentage was 1.8% of construction cost when a colony was being developed. But now there has been a percentage raise to 5.8%. The construction cost has also risen by 50%. So you can see how there has been a steep increase in the total cost that has to be paid by the builders. So they can do two things, either stop the project or increase the cost of the building. This kind of rising price is not conducive to a healthy real estate market at all.
