Why Choose Bhopal ?
Bhopal is the capital of the Indian state of Madhya Pradesh and the administrative headquarters of Bhopal District and Bhopal Division. The city was the capital of the former Bhopal State. Bhopal is known as the City of Lakes for its various natural as well as artificial lakes and is also one of the greenest cities in India.
Bhopal houses various institutions and installations of national importance.
Some of these include :
• ISRO's Master Control Facility,
• The CSIR Advanced Materials and Processes Research Institute (AMPRI),
• Maulana Azad National Institute of Technology,
• Indian Institute of Science Education and Research (IISER Bhopal),
• School of Planning and Architecture, Indian Institute of Forest Management,
• Bharat Heavy Electricals Limited (BHEL),
• Gandhi Medical College (associated with Hamidia Hospital,Sultania Zanana Hospital & Kamla Nehru Hospital),
• India Institute of Medical Sciences, Bhopal.
Bhopal provides the industries with complete civic and industrial infrastructure. The industrial growth of this region has been phenomenal, multinational and national companies have chosen to set up their industries here, solely because of the infrastructure at bhopal.
The Govindpura, Bhopal industrial area has 1044 small and medium scale industries involved in various kinds of production activities.
Mandideep is an industrial suburb of Bhopal. It is located to the South of the city on the NH 12. Mandideep's total exports are worth some 2,300 crore rupees ($500m; £300m) per year, making it the largest industrial area in Madhya Pradesh. The town is home to Hindustan Electo Graphite (HEG), owning the largest graphite electrode plant in the world and is the largest industrial company in the entire state. Hindustan Electro Graphite (HEG) and Lupin Laboratories ltd. are the dominant companies in the suburb, each exports worth around 900 crore rupees. Apart from that, Mandideep also houses the manufacturing plant of Makson group of company, Eicher Tractors for the oldest tractor manufacturers in India.
Real Estate Bhopal
Commercial Real Estate in Bhopal
Strategic location of Bhopal is attracting several government and semi government agencies. Also, there is already a multitude of such organizations mostly located in the Area Hills, MP Nagar, TT Nagar.
The capital rates in major commercial market of Bhopal hover between Rs 1200-1800 per sq ft. It includes the areas such as TT Nagar, Bairagarh, MP Nagar, Mantralaya (government offices), New Market, and TT Nagar. There is a high trend of lending the commercial property on lease here. The lease rates vary from Rs 15-20 per sq ft per month.
Metro Plaza near Vitthal Market is fetching around Rs 1,900 per sq ft which is believed to be the highest capital price as compared to prices of other commercial markets in Bhopal.
Center Point is another prominent commercial market in Bhopal. Touted as A-class building in commercial area, its lease rate is Rs 14 per sq ft per month. Agencies or companies in search of commercial spaces in Bhopal can look forward to locations like City Center and MP Nagar. Since there has been no growth in IT and ITes sector in Bhopal for the past few years, absorption rate of commercial developments in the city has been limited to 30-40%.
Residential Real Estate in Bhopal
The residential areas of Bhopal are mainly divided into three categories: Congested old residential colonies in the main city, planned development in newly developed areas, and the development along Hoshangabad Road and Ayodhya By-pass.
Prices of residential property in old city start from Rs 2,500. Several colonies have developed in and around Bhopal in the past decade. These are the known areas in the city including Tulsi Nagar, Shivaji Nagar, Area Colony, Shahpura, Shakti Nagar, Saket Nagar, Rachna Nagar, Kasturba Nagar, and Sonagiri.
Rates for properties in the emerging areas hover around Rs 800- Rs 1200 per sq ft along Hoshangabad Road. The going rates in the area along Airport Road are Rs 500- Rs 700 per sq ft and Rs 2000- Rs 3000 along Kolar Road.
There are independent house (duplexes and bungalows) in Bhopal which accounts for 88% of the residential segment. Its absorption rate is low at 35-40%. A new concept of ‘triplex’ is fast taking shape in Bhopal. It has shown a high absorption rate of 73%.
Retail Market in Bhopal
Retailing in Bhopal is of high street type. Since the mall culture has not entered here yet, there is no operational shopping mall in the city but the major retail areas are MP Nagar and New Market where the capital rates averages between Rs 10,000- Rs 15,000 per sq ft. Bairagarh, Vitthal Market, and Barkheda are the acknowledged community centers. Lease rates in prime retail areas of Bhopal vary from Rs 60-Rs 80 per sq ft per month.
Retail spaces in Bhopal are easily available for outright space. The average absorption rate of development in Bhopal retail sector is far better than the commercial property which is 30-40%.
Real Estate Scenario
IT Parks: The By-Pass Road area in Bhopal is making rapid strides in terms of real estate where the cost is fast shooting up due to upcoming International airport and IT Parks.
TT Nagar Re-densification Project: Prime residential and commercial area of TT Nagar will be converted into a Central Business District with an investment of Rs. 600-crore.
MP AUDYOGIK KENDRA VIKAS NIGAM (BHOPAL)
MP AUDYOGIK KENDRA VIKAS NIGAM (BHOPAL) Ltd., is a subsidiary of M.P. State Industrial Development Corporation Ltd. Bhopal, (Formerly MPAVN Ltd., Bhopal). The Nigam was incorporated on 16.October.1987 under the Indian Companies Act 1956. The Nigam has been entrusted the responsibility of Industrial promotion through development of Industrial Growth Centers in selected areas of its jurisdiction in the State of Madhya Pradesh. Authorized Share Capital of the Corporation is Rs. 200.00 lakhs and Issued, subscribed & paid-up capital of the corporation is Rs. 135.01 Lakhs.
Corporation Has Following Developed Growth Centers/ Food Parks:-
1. Growth Centre – Mandideep Phase-I, Mandideep-Phase- II, Distt. Raisen
2. Growth Centre – Pillukhedi , Distt. Rajgarh
3. Food Park – Babai Distt. Hoshangabad.
4. Food Park – Piparia Distt. Hoshangabad.
OTHER ON-GOING PROJECTS:-
1. Special Education Zone, Acharpura, Distt. Bhopal,
2. Multi product MSME Cluster (flatted structure) Govindpura, Bhopal
3. Development of non polluting industrial zone Bagroda Distt. Bhopal
4. Air Cargo Handling Hub, Distt. Bhopal
5. Proposed New Industrial Area under CDP project Tamot distt. Raisen,
6. Multi product MSME Jambar Bagri Distt. Vidisha
7. Execution of Civil Works of Other Departments ( Deposit Works)
National Highway 12 passes through Bhopal which connects it to Jabalpur in the East and Jaipur in the West. National Highway 86 connects Bhopal to Sagar in the East to Dewas in the West. State Highway 17 connects the city with Indore. Apart from the long distance services, there are many services to nearby places within the state.
There are number of daily buses to Indore, Ujjain, Gwalior, Jabalpur, Khajuraho, Sanchi, Pachmarhi, Vidisha and Berasia in Madhya Pradesh. There are also daily buses to Ahmedabad, Jodhpur, Kota, Nagpur, Jaipur, Shirdi, Pune, Akola, Amravati, Jalgaon, Vadodara, Surat and Nashik.
Bhopal lies in the West Central Railway Zone. Considering both North-South and East-West train routes, it is one of the best connected city in India. It houses the Divisional Railway Managers (DRM) head office under Central railways.
Following are the railway stations in Bhopal:
Bhopal Junction Railway Station is the largest and most important railway station in the city. Being on the main North-South line, it is connected by rail to all parts of the country except North-Eastern states. More than 150 daily trains have stoppages in Bhopal.
The Raja Bhoj Airport is located near the satellite suburb Bairagarh and has flights to most major cities in India. Expansion of the airport is completed and now became an international airport.
There are three routes ways to reach the airport: (1) Via Bairagarh, (2) Via Panchvati, (3) Via Gandhi nagar road (N.H 12). From within the city, VIP road, a four lane road connects with the airport.