Bhopal, the capital city of Madhya Pradesh, is rapidly emerging as a thriving hub of growth, connectivity, and opportunities. With its expanding urban catchment area and robust infrastructure, the city is attracting investors and businesses from across the country. The city enjoys excellent connectivity through a well-developed road network, making it easily accessible from various parts of the country. National Highways 48, 148, and 56 traverse Bhopal, facilitating seamless connectivity. Bhopal is not
only well-connected by roads but also serves as an important rail junction aided by the newly launched Vande Bharat Express between Bhopal and Delhi, facilitating passenger travel. The city also boasts an international airport, connecting it to major domestic and international destinations.
The industrial growth rate in the state has witnessed a remarkable surge, reaching an impressive 24% in the year 2022-23 as per MP economic survey 2022-23. This rapid growth is a testament to the city’s potential as an industrial powerhouse. Bhopal is attracting investments across various sectors, including manufacturing, pharmaceuticals, information technology, and automotive industries. The recent Investors Summit held in Bhopal exemplified the government’s commitment to creating a conducive business environment and attracting investments. The summit outlined a comprehensive roadmap to transform Madhya Pradesh into a thriving 550-billion-dollar economy by 2026. The city is home to
several Special Economic Zones (SEZs), such as the Bhopal Industrial Area Development Authority (BDA) SEZ and the Mandideep SEZ.
National and multinational companies such as Infosys and Tech Mahindra have also set up their operations in Bhopal, leveraging the city's talent pool and favourable business environment. With its focus on infrastructure development and investor-friendly policies, the city is attracting businesses and fostering employment which has also translated into growing demand in the city’s property markets. The growing traction in residential markets is visible on Housing.com’s IRIS index, where Bhopal is only second to Indore amongst the Tier-2 cities with the maximum online property search volume in central India. The city’s high-intent homebuyer activity peaked during April 2023, reaching 253 points.
A deeper look into the trend suggests that most homebuyers are looking for properties along along Hoshangabad Road, Ayodhya Bypass, and Airport Road. Bhopal homebuyers are primarily seeking apartments, followed by independent homes with 2 BHK and 3 BHK configurations. Overall, the sustained growth in the online property search trend in Bhopal is a testament to its potential to emerge as a key player in the country's evolving real estate landscape in the coming years.
Renuka Kulkarni, a seasoned real estate professional, brings over five years of diverse experience in research, consulting, and architectural design within the urban sector. Her expertise spans public and private projects, showcasing proficiency in real estate research, trend interpretation, and policy analysis. With qualifications in architecture and a master’s degree in Data Science (Business Intelligence & Data Analytics) from IIIT Bengaluru, along with an M. Tech in Urban Development and Management from TERI School of Advanced Studies, New Delhi, Renuka seamlessly blends data analytics with market insights, offering a holistic understanding of the industry in her research pieces.
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