All You Need To Know About Indore Super Corridor
Indore’s Super Corridor is an eight-km highway stretch that is being developed as New Indore on the outskirts of the main city. The corridor runs between the Airport Road and MR 10 with a width of 600 m, excluding a 75-m wide road. According to the 2021 Master Plan of the city, over 18 activities on the corridor, including corporate offices, malls and multiplexes, can be taken up along the area. Some of the mega projects being developed on this stretch include a sports complex, a medical hub and a convention centre.
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The new corridor, which is still in development phase, will gradually be home to business parks, industrial parks, IT parks and residential projects, making it a complete commercial and housing destination equipped with the latest infrastructure. The locality already has some developed infrastructure that includes schools and healthcare institutions.
Residential development
The Indore Development Authority (IDA) has planned to give a thrust to the residential real estate market of the city’s Super Corridor by launching two housing schemes in the area. Scheme-172 and Scheme-176 will be developed on a 500-acre land in the next two years. While most part of the land used to develop the schemes will be government-owned, almost 30 per cent of the area will be acquired by the farmers. These farmers will be given 33 per cent ownership of the plots developed in the two colonies with a floor area ratio (FAR) of 1.5-2.
Apart from these two government-launched schemes, there are nearly 28 projects up for sale on the Super Corridor. Of this, 15 are ready to move in while 13 are still being constructed. The locality offers a mix of residential configurations, including plot, 1BHK, 2BHK, 3BHK and 4BHK.
Property prices
The locality, which has a livability score of 7.5, has witnessed dips and peaks in the past six years in property prices. According to PropTiger.com data, the per square foot price in the locality that stood at Rs 2,150 in 2013 has only reached Rs 2,190 in 2019. The property prices here range between Rs 14-62 lakh.
On the other hand, the average rent here is Rs 10,800, shows Makaan.com data.