Bhopal, located in central India, is the capital city of the Indian state of Madhya Pradesh. Also known as the Lake City of India, Bhopal has beautiful landscape that is dotted with many natural lakes.
Economy Of Bhopal:
Bhopal is divided into 6 major areas and around 75 suburbs. The major areas in Bhopal include New City and Old City. The economy of Bhopal is essentially divided into modern and traditional industries.
The prominent industries in the old city are those of cotton, electrical goods, jewelry and chemical. Some other industries are involved in cloth weaving, making sports equipment, sealing wax and making matches. The Old City also has many garages that specialize in automobile conversion and are popular for producing modified and tuned motorbikes, SUVs and cars.
On the other hand, being the state capital, it is of a more industrial nature and accommodates many reputed insurance companies, banks and other financial organizations.
M P Nagar is Bhopal's most prominent commercial area and accommodates many reputed business houses.
Bharat Heavy Electricals Limited (BHEL), which is the largest manufacturing and engineering enterprise in India, has its unit in Bhopal. The industrial suburb of Bhopal is Mandideep, which accommodates many plants belonging to some of the esteemed companies including Eicher, Crompton Greaves, Procter & Gamble, Larsen & Turbo, Fujitsu and HEG.
The Madhya Pradesh State Electronics Development Corporation Ltd. is planning to develop an efficient Software & Hardware Technology Park in Bhopal. Multinational companies (MNCs) such as Taurus Microsystems, Fujitsu and Genpact are supposed to set up their centers in this Technology Park.
Some factors that make Bhopal an attractive prospect for investors are:
Apart from these, Bhopal has a well-developed industrial infrastructure that facilitates excellent interstate connectivity.
Roads in Bhopal have improved significantly in the past few years and are considered the best in the entire state. Bhopal also has National Highway 12 (NH12) passing through it and it connects it to the cities in to the east (Jabalpur) and west (Jaipur).
Bhopal, being a railway junction, has a well-developed rail network that connects it to other major Indian cities.
Bhopal also has a domestic airport called The Raja Bhoj Airport that's located in proximity to the satellite suburb of Bairagarh. This airport has regular flights to and from major Indian cities such as Delhi, Mumbai, Indore, Ahmedabad, Raipur and Hyderabad. There are plans to turn this domestic airport into an international airport. Starting in 2010, this airport may have international flights operating to the Middle East.
Real Estate market in Bhopal:
It would indeed be a wise option to invest in Bhopal real estate properties now when land prices are still low. Bhopal is developing rapidly. With many IT companies planning to set up their bases in Bhopal and other developmental measures on the cards, real estate prices in Bhopal are certain to increase. There are already many efficient and well-designed residential properties and commercial buildings and Special Economic Zones (SEZs) coming up in Bhopal.
Thus, this is the ideal time for investors to invest in Bhopal real estate properties, as they can reap huge benefits later. Investors can literally watch their money (property value) grow as the state government is investing an increasing amount of money to improve the city's infrastructure, thereby increasing its value.