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Space Realcon India Pvt. Ltd. is a real estate group which focuses in gaining the trust and respect of its investors through actions and not just words. Space Realcon India Pvt. Ltd. is a prestigious organization comprising of skillful engineers and thoughtful builders who have effectively built a lot of housing projects. With a history of supplying projects on time and as per promised specifications, Space Realcon India Pvt. Ltd. is a name to believe when it comes to real estate in Indore.
Mahalaxmi Nagar is an attractive locality for anyone looking to buy property in Indore. It is located in the north-eastern part of the city, and is well connected, with many schools, eateries, and stores nearby. Well-known educational institutions such as Pioneer Institute of Professional Studies, Ishaq Patel Public School, and DPS Indore add to Mahalaxmi Nagar’s civic arsenal.
Mahalaxmi Nagar is situated in between Eastern Ring Road and Indore Bypass Road, which is a boon for regular commuters. MR-10 and MR-9 are two other important roads that are also situated nearby, which connects the locality to the rest of Indore and Madhya Pradesh.
Connectivity and Transit Points
This area is only 13km from Devi Ahilyabai Holkar Airport, which is just about 25-minute drive. It is also approximately about 7km away from Indore Junction Railway Station. With easy access to both the airport and the railway station, Mahalaxmi Nagar is a prime locality in terms of connectivity.
The Ring Road, MR-10, and MR-9 also give easy access to and from Mahalaxmi Nagar.
Indore Bus Rapid Transit System (IBRTS), which became functional in 2013, plies Eastern Ring Road and other major routes. Cabs and auto-rickshaws are very common here, and can be hired to commute within the city.
Major Landmarks
Bombay Hospital
Apollo DB City
Pioneer Convent
Atal Bihari Vajpayee Stadium
Factors for Growth in the Past
Connectivity has been a boon for Mahalaxmi Nagar. Further, the presence of civic amenities like banks, restaurants, and malls has also influenced its growth positively and made it a popular residential option. With the increasing number of residents, the commercial establishments catering to the population have also grown significantly.
Residential Real Estate Market
Residential space in Mahalaxmi Nagar mainly comprises of apartments, with independent houses coming in second.
In the April-June quarter of 2013, price per sq. ft. was Rs 2,400, which dropped to Rs 2,200 in the July-September quarter of the same year. However, it has been on a climb since then, with average prices during the April-June quarter of 2014 hovering at Rs 2,500 per sq. ft.
Major Challenges
Mahalaxmi Nagar has had problems in the past with overflowing drains and persistent power cuts because of inadequate and poorly maintained infrastructure.
Traffic is also a hassle. Roads around the area can get crowded during peak hours, but that is to be expected in a popular urban area. Hopefully, the planned Indore Metro project will solve this problem to some extent.
Factors for Growth in the Future
The Indore Metro is expected to be operational by 2019. This is expected to further boost the realty market of the area by enhancing the region’s connectivity to other major growth centres. Thus, investing in Mahalaxmi Nagar property could prove to be a wise choice since prices are expected to rise in the future.
402, Princess Centre, 6/3, New Palasia, Indore, Madhya Pradesh, INDIA.
Projects in Indore
Completed Projects |The project is located in Mahalaxmi Nagar, Indore-452010, Madhya Pradesh, INDIA.
Apartment sizes in the project range from 900 sqft to 1420 sqft.
The area of 2 BHK apartments ranges from 900 sqft to 1060 sqft.
The project is spread over an area of 1.00 Acres.
Price of 3 BHK unit in the project is Rs. 37.87 Lakhs