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Indore district: $6.89 billion property sales record
2023-08-11
Indore district takes the lead in revenue generation, amassing $6.89 Billion dollars from property sales in Q1 and July, outshining 14 other districts within Indore and Ujjain divisions. Property income this year shows a notable 16% increase compared to the previous year. Registrar office data reveals over 50,000 property registrations from April to July 2023, boosting revenue.
Factors like expanding Metro lines, corporate and IT growth, and infrastructure development contribute to soaring property prices. Prime areas like Super Corridor, Indore Ujjain Road, and Rau experience significant hikes, especially in the first phase.
Deputy Inspector General of Registration for Indore, Balkrishna More, expects more momentum during the festive season, with increased registration slots due to high demand.
Shajapur, Khargone, and Agar-Malwa districts also observe surges in property transactions, with revenue growth of 48%, 39%, and 30% respectively, per registrar office data.
Gopal Goyal, CREDAI Chairman in Indore, acknowledges rising demand, prompting developers to launch new projects. Corporate influx drives office space demand. Indore's thriving property market underlines its potential as a prime investment hub.
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