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Jabalpur Property Market Trend
Jabalpur is one of the major cities of Madhya Pradesh state and the biggest urban agglomeration in the state. It is bordered by Seoni to the south, Katni to the north and Dindori to the east. This city is known for its striking marble rock structures found throughout the banks of River Narmada.
Jabalpur real estate has gained a force in its growth, subsequent to the industrial boom in the region. The fact that Jabalpur is an important educational center in the state and its commercial significance has assisted to a great extent in the development of real estate in Jabalpur. As a result, the property rates are growing steadily just like they are escalating in the other Tier III cities in the state. The government is also putting in every effort to catch the attention of builders, housing companies and developers towards the city by building a favorable environment for IT industries. They have been quite successful in doing so because many developers have already made a foray into the city’s ambits. So, we can see a huge growth of SEZs, IT parks, housing and convention centers in the city.
Real Estate Development in Jabalpur
As seen in the previous sections, the environment in Jabalpur is just the apt for development of commercial as well as residential properties. The upcoming Apparel Park is regarded as a milestone in the development of commercial places in the city. Besides, there are also some big builders joining the band like Parsvanath, Prabhatam and Satya. Most of them sketch on investing in residential projects like housing complexes and multi-storied buildings. DLF, one of the leading builders in India, is also planning to invest in Jabalpur property development projects.
The faith of real estate giants like Parsavnath and DLF, in itself, speaks a lot of the potential in the city to offer living pleasure to people.One can also witness tremendous development of shopping malls, retail stores, business centers, and entertainment kiosks across the city, symbolizing the improving living standards of the localities.
Property Rates in Jabalpur
The property’s location is the most significant factor in determining the rates not only in Jabalpur, but anywhere else, for that matter. To get a broad idea of Jabalpur property rates, check out the ratings below in the important parts of the city:
Individual houses: Rs. 25 lakhs to Rs. 5 crores
Duplex: Rs. 25 lakhs to Rs. 1.5 crores
Flats: Rs. 10 lakhs to Rs. 55 lakhs
Shops: Rs. 10 lakhs to Rs. 85 lakhs
Plots: Rs. 500 per square feet to Rs. 5000 per square feet
The rates, however, vary greatly, depending upon the property’s location, land dimensions, and quality of construction.
You can buy a 2BHK independent duplex house measuring around 750 square feet in the city center for around Rs. 35-40 lakhs. A 2000 square feet residential plot in Ganganagar, measuring around 3000 square feet would cost around Rs. 20 lakhs.
With growing apartment trends in the city, a 2BHK flat on Gwarighat Road measuring 800 square feet is currently selling at around Rs. 20-22 lakhs. If you are interested in owning a commercial land, a 2700 square feet area in Amkhera main road costs Rs. 15-16 lakhs.
What Next ?
Jabalpur real estate market is expected to experience a bigger boost over the upcoming years, since more industrial set-ups are coming to this wonderful city. So, it is the right time to make your investments now to secure high profit margins, otherwise the day isn’t too far when the Jabalpur property rates would also get saturated like those of Bhopal and Indore.
Apartments are in high demand, so consider investing in one of the upcoming projects from top notch builders like DLF to be assured of very high returns.
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