The capital of Madhya Pradesh, Bhopal has emerged as the best in terms of growth among the Tier II cities says Nitin Agrawal Swadesh Builder. Data from National Housing Bank Index reveals that Bhopal has shown the second best growth, driven partly by the real estate development in the city.
More than 70 new residential projects are being planned in various areas of the city like Bairagarh City, Shyamala Hills, Arera Colony, Katara Hills, J K Road, Bhadbhada Nagar, Ashoka Garden, Ayodhya Nagar and Hoshangabad Road.
Here are some reasons as to why real estate in Bhopal holds promise this year:
Large developers like Swadesh Builders Bhopal have planned projects here to take advantage of the boom. The realty market in Bhopal also has fair amount of investment options for people who are buying property for non-residential purposes.
A one-bedroom apartment typically costs around Rs. 8 lakh, while two-bedroom properties are usually priced between Rs 12 to 25 lakh. Five-bedroom villas are also available in the market, which, depending upon the location, are priced at nearly Rs. 1 crore.
Big names like DLF and Ansal too are planning projects in Bhopal. However, local builders like Signature Group, Swadesh Builders Bhopal and Fortune Builders still hold an upper hand in the market.
With Tier II and Tier III cities attracting more investors and Bhopal metro line project in the pipeline, the capital of Madhya Pradesh surely is a prudent location for realty transactions.
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