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HomeBuisnessindore#Supercorridor | The Super Corridor should remain an investment pillar for...

indore#Supercorridor | The Super Corridor should remain an investment pillar for profit only Pi News

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AddressIndorePublished: February 12, 2024 7:52:43 PM

Even after development, there is no settlement, the colonies are far away from the real buyers

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The Super Corridor should remain an investment pillar for profit only

Indore. Even after the 6-lane railway over the supercorridor and metro corridor bridge, the area is far from habitable. The dream of building a new Indore has been shown here for years, but it is not coming true. There is a land market here every Saturday-Sunday, but there is no settlement. The Super Corridor and its surrounding areas have become a center of investment and income.
The Supercorridor area has been an attraction for about 7-8 years. A highway, a 6-track railway line passing through the bridge adds to the beauty of the landscape. The country’s two multinational companies and colleges have also started operations. Now, the fast-growing subway corridor is a must-see. The commercial route of the metro should start from June 2024. The land market is open here on Saturdays and Sundays. Agents and managers of about 50 fledgling colonies set up hemp, and much buying and selling also takes place.
Guideline 900 to 1000, 5 times the price
In Bangarda, the old area adjacent to the super corridor, houses have already been built, many new buildings have been built, but there are very few settlements in the new area. About 100 colonies are under development or under development on both sides of the Super Corridor. When the Patrika team interviewed the people who came to inquire about the plot on the spot, it was found that most of them were coming for investment in search of good profit. The goal of those who got a plot is not to settle there. Surendra Kumar, who retired from BSNL, said his son works in a multinational company in Mumbai. He wants to invest here. Shubham Verma, software engineer, says the returns are high here, so I am investing. The guideline here is Rs 900 to Rs 1,000, but plots are selling for Rs 4,000 to Rs 5,000 per sq ft.
IDA sold land on both sides of Super Corridor, no construction
The IDA has spent nearly Rs 300 crore on roads and other improvements in the Super Corridor, which are currently underway. About 300 meters of land on either side of the super corridor is IDA’s public semi-public (PSP) land. That is, whoever gets the land can build commercial and cooperative buildings, and projects such as factories and hotels can appear. Land was purchased, but apart from two large companies, no one else was engaged in construction. It can be used here for commercial purposes. Those who have acquired land are also waiting for settlement. According to IDA Director General RP Ahirwar, PSP plots were sold and not residential plots.

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