Space Park Phase II

By: Space Realcon India Pvt. Ltd. in Mahalaxmi Nagar

Introduction: Space Park Phase II, is a sprawling luxury enclave of magnificent Apartments in Indore, elevating the contemporary lifestyle. These Residential Apartments in Indore offers you the kind of life that rejuvenates you, the one that inspires you to live life to the fullest. Space Park Phase II by Space Realcon India Pvt. Ltd. in Mahalaxmi Nagar is meticulously designed with unbound convenience & the best of amenities and are an effortless blend of modernity and elegance. The builders of Space Park Phase II understands the aesthetics of a perfectly harmonious space called ‘Home’, that is why the floor plan of Space Park Phase II offers unique blend of spacious as well as well-ventilated rooms. Space Park Phase II offers 1 BHK and 2 BHK luxurious Apartments in Indore. The master plan of Space Park Phase II comprises of unique design that affirms a world-class lifestyle and a prestigious accommodation in Apartments in Indore.

Amenities: The amenities in Space Park Phase II comprises of Landscaped Garden, Indoor Games, Play Area, Club House, Multi-purpose Hall and Security.

Location Advantage: Location of Space Park Phase II is a major plus for buyers looking to invest in property in Indore. It is one of the most prestigious address of Indore with many facilities and utilities nearby Mahalaxmi Nagar .

Address: The address of Space Park Phase II is Mahalaxmi Nagar, Indore-452010, Madhya Pradesh, INDIA..

Bank and Legal Approvals: Bank and legal approvals of Space Park Phase II comprises of HDFC Bank, LIC Housing Finance Ltd, State Bank of India and IDBI Bank, Indore Development Authority.

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.