Though Madhya Pradesh grew at a slower pace than Gujarat in the last financial year, it still registered a growth rate close to the national average. State capital Bhopal has seen demand for housing properties rise in the past couple of years. Residential properties in the city have given huge returns over the past two years. Around 70% of the residents, local developers and property brokers polled in the survey said prices of residential properties have gone up by more than 30%
The outlook for the housing market looks bright with every respondent predicting the trend to continue. according to our research we can expect value of residential properties to grow by 30-60% over the next two years.
As commonly seen in non-metro cities, buyers prefer residential plots compared with apartments. Even property brokers are in favour of owning a piece of land rather than an apartment in a high-rise. Hoshangabad road, Kolar Road, Airport Road, Arera Colony, babadiya kalan and Bagh Mughaliya are the preferred locations in the city