New Market, Bhopal
- Nearby Localities
- Bhadbhada Road, TT Nagar, NH-12, Bawaria Kalan, Aradhana Nagar, Kolar Road, Nehru Nagar, MP Nagar
About
Overview of New Market, Bhopal
Location and Connectivity
- New Market in Bhopal finds itself at a central spot, famous for its excellent connectivity to both the city center and newer Bhopal areas.
- Adjacent to it are famous localities like Gandhi Bhawan, Malviya Nagar, and T.T. Nagar.
Infrastructure and Amenities
- This neighborhood acts as an entertainment heart, featuring many supermarkets, hotels, and eateries.
- Streets are well-paved and hold an impressive average user rating of 5.0.
- Nearby, critical amenities such as banks, hospitals, and shopping complexes make it a highly desirable locality.
Property Types and Pricing
For Sale:
- Property options include apartments, detached houses, and plots.
- You can expect the average price per square foot to be about Rs. 6134.0.
- Prices for 3 BHK apartments range from Rs. 92 Lac to Rs. 1.90 Cr.
- Half of the for-sale properties fall between ₹80 Lac - ₹1 Cr, while another quarter is priced between ₹1.2 Cr - ₹1.4 Cr.
For Rent:
- You can find apartments, detached houses, and single rooms.
- The rent for a 3 BHK apartment ranges from ₹18,000 to ₹80,000 per month.
- About 22% of rental offerings are priced between ₹15K - ₹20K monthly.
Property Configuration
For Sale:
- 3 BHK accounts for roughly 67% of all properties up for sale.
- 43% of the listed properties are multistorey apartments.
For Rent:
- 3 BHK is the most frequent configuration, making up around 56% of rental properties.
- Commercial office spaces and apartments hold substantial market shares.
Amenities and Lifestyle
- Enjoy a luxurious lifestyle complete with modern amenities such as modular kitchens, vastu-based architectures, gardens, clubhouses, pathways, and sometimes swimming pools in residential complexes.
- Entertainment, supermarkets, and food places boost life quality in this zone.
PropertyWala's Conclusion
We can say that New Market in Bhopal is a fantastic spot for both buyers and renters. It offers central location, great connectivity, and modern amenities. With its diverse property range from affordable to luxurious, it suits varied buyer and renter profiles. Known for its strong infrastructure and close proximity to vital services, New Market shines as a top real estate choice in Bhopal. Whether seeking a cozy home or an investment opportunity, New Market has the right choice for you, highlighting it as a valuable real estate prospect.
Nearby
-
Transport
- Hindustan Petroleum (<1 km)
- Sah ali shah jatty (~4 km)
- Board Office Chauraha (~5 km)
- Bhopal Junction (~5 km)
- ISBT (~6 km)
- Raja Bhoj Airport (~12 km)
-
Shopping & Dining
- Kings Department Store (<1 km)
- Indian Coffee House (<1 km)
- Cafe Coffee Day (~3 km)
- Bhopal Haat (~4 km)
- DB City Mall (~4 km)
- People's Mall (~11 km)
-
Healthcare
- Nahar Nursing Home, Bhopal (<1 km)
- KAILASH NATH KATJU (<1 km)
- J P Hospital (~3 km)
- Geeta Medical Store (~3 km)
- Red Cross Hspital (~3 km)
- Davaindia Generic Pharmacy (~3 km)
-
Education
- Swami Vivekanand Library (<1 km)
- Maulana Azad National Insititute of Technology (~4 km)
- Ankur Middle School (~5 km)
- Indian Institute of Forest Management (~5 km)
- National Judicial Academy (~6 km)
- Campion School (~6 km)
-
Leisure & Entertainment
- Mayur Park (~2 km)
- SAI Sports Club (~2 km)
- Bharat Bhawan Amphitheatre (~2 km)
- State Museum Bhopal (~2 km)
- Aishbagh Stadium (~4 km)
- Sangam cinema (~4 km)
-
Services
- Kotak Mahindra Bank (<1 km)
- Bank of Maharashtra (<1 km)
- Governer's House (~1 km)
- Fire Fighting Headquarter Bhopal (~3 km)
- Nehru Nagar Post Office (~4 km)
- Hanumanganj Thana (~4 km)
-
Religious Places
- Birla Temple Compound (~1 km)
- Prachin Mata Mandir (~2 km)
- Ram Mandir Kamla Nagar (~3 km)
- Moti Masjid (~3 km)
- Jama Masjid (~4 km)
- Bethlehem Church (~4 km)
-
Business & Hospitality
- Taj Lakefront Bhopal (~2 km)
- Courtyard By Marriott (~4 km)
- Hotel Rajdoot Gaurav (~5 km)
- Fairyland Clarks Inn (~5 km)
- Bharat Heavy Electrical Limited (~9 km)
- Coach Rehabilitation Workshop (~9 km)
Reviews
It is at Junction of New Bhopal & Old Bhopal.Near Vidhan Sabha,Minister's Bunglow,Big Retail Market of more than 600 shops,Cinemas,Banks post offices,Govt Offices,both Lakes,Cultural places like Ravindra Bhavan,Bharat bhavan,Manav Sangrahlay etc. It is a Lively place from 8 am to 11 pm, never giving a dull moment.No water logging problems like some other areas.
Pros
- Centre of Old & New Bhopal.
Cons
- Far from airport
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News
Bhopal buyers rush registrations before stamp duty hikes
ETRealty · · Regulatory
Over 1,000 property registrations completed in Bhopal on March 31 before stamp duty increases of 50% to 181% took effect April 1.
Key facts
On March 31, registration offices at ISBT and Pari Bazaar in Bhopal processed over 1,000 property registrations before new stamp duty rates took effect April 1. Stamp duties increased 50% or more in 104 locations, with some areas seeing increases of 100%, 150%, and 181%. The single day generated Rs 20 crore in revenue, surpassing the district's annual target of Rs 350 crore. Registration slots were expanded to 700 per office at ISBT, Pari Bazaar and Govindpura, with operations continuing until night. Buyers secured slots in early morning hours; one buyer booked at 2 a.m. and obtained a demand draft at 10 a.m. Standard construction cost rose from Rs 13,000 to Rs 14,000 per square metre, adding Rs 10,000 in registration costs for a 1,000 sq. ft. property. The hike applies to houses, shops, flats, warehouses and commercial premises.
Bhopal property rates exceed revised collector guidelines
The Free Press Journal · · Regulatory
Bhopal's property market rates exceed proposed collector guideline increases, prompting developer and political opposition to the hike.
Key facts
In most parts of Bhopal, property market rates are higher than the proposed hike in collector guideline rates. The proposal for hiking rates at 340 locations in Bhopal has been put on hold following opposition from CREDAI and elected representatives including MP and MLAs. The revised rates majorly affected properties in Huzur and Kolar tehsils.
In Kolar: market rates for plots are around Rs 33,000/sq m, constructed areas Rs 55,000/sq m, and commercial plots Rs 1.10 lakh/sq m.
CREDAI Bhopal chapter president Manoj Meek stated the concern is not only about market rates but implications for property taxes and financial burden on people. BJP MLA Bhagwandas Sabnani, a district valuation committee member, suggested keeping registry rates low to increase land sales and purchases, warning that high registry rates cause properties to move unregistered, causing government revenue loss.
Bhopal property prices to rise five to 250 percent
Indiatimes · · Regulatory
Bhopal district administration proposes property price increases of 5% to 250% across 230 locations in the state capital.
Key facts
District administration and stamps officials in Bhopal propose property price hikes ranging from 5% to 250% at 230 locations in the state capital.
Bhopal Plan 2047 Leaves Arera Colony Infrastructure Concerns Unresolved
The Free Press Journal · · Regulatory
Bhopal’s proposed 2047 development plan adds land-use and parking provisions, but residents question its impact on Arera Colony’s leased properties and overstretched services.
Key facts
Bhopal Development Plan 2047 proposes new rules for road widths, land use and building development, but residents and experts say parking, daily amenities and civic infrastructure remain concerns in Arera Colony as redevelopment expands.
Resident Purnendu Shukla said government-leased quarters allotted to MPEB employees for residential use are operating as offices, sometimes with no employee or engineer living there. Large-vehicle parking has damaged sewage lines and residents’ gates. Residents fear broad mixed-land-use provisions could allow non-residential use despite residential lease terms.
The draft identifies multi-level parking facilities at MP Nagar Zone-1, Bairagarh, New Market, Ibrahimpura and Moti Masjid, plus off-street and on-street parking locations, but provides no separate parking inventory for Arera Colony. It mentions “12% open area, half for parking.”
MANIT Department of Architecture and Planning head Dr Krishna Kumar Dhote called for assessing water, drainage, electricity and other service capacity before further development. The plan does not address government-leased properties; retrospective land-use regularisation would not convert leases to freehold without Supreme Court directions.
Bhopal Draft Plan 2047 Proposes Growth Corridor and Expanded Metro
CNBCTV18 · · Regulatory
Bhopal’s draft Development Plan-2047 plans for 45 lakh people, with new housing, a 51-km growth corridor, expanded metro and revised land-use rules.
Key facts
- The Madhya Pradesh government released Bhopal’s draft Development Plan-2047, the first new plan in more than two decades; the 1995 plan was intended to run until 2005. It plans for a population of around 45 lakh.
- Of the 1,01,690-hectare investment region, 61,017 hectares (60%) are proposed for urban uses and 40,673 hectares for water bodies, agriculture and other uses. Green and eco-sensitive zones cover 27%; 3,289.94 hectares are for parks, sports grounds, gardens, lakefronts, urban forests and afforestation. Around 10% is recommended for mixed-use recreation.
- Residential use covers 26,240 hectares (43% of planned urban land), divided into existing, proposed, limited-density, future and highly environment-sensitive zones. Limited-density areas include VIP areas, Arera Colony, Chunabhatti, Shyamla Hills, Vijay Nagar, Char Imli and Gandhi Nagar. A new system allows residential and commercial activity in the same zone.
- Commercial zones include MP Nagar, New Market and Misrod; MP Nagar permits redevelopment of old buildings at higher FAR. Shops, offices and housing are allowed in mixed-use areas.
- A 51-km corridor across about 3,000 hectares would connect proposed Education Knowledge Artificial Intelligence (EKAI) City at Bhauri, the airport, commercial areas, logistics and wholesale hubs, and suburbs. It would include housing, hotels, hospitals, IT and AI facilities, data centres, malls, offices and educational institutions. BRTS is proposed initially, with possible later conversion to MRTS; links would connect roads toward Vidisha, Raisen, Narmadapuram and Indore.
- Development Plan roads would increase from 515.78 km to 795.61 km. Roads toward Narmadapuram, Raisen, Berasia, Vidisha and Bilkisganj would be 60 metres wide outside the urban area and 45 metres within it; Kolar Road would be 45 metres and Chiklod Road 30 metres.
- Metro would expand from 27.8 km to 95.82 km, with Transit-Oriented Development zones extending 500 metres on both sides of existing and future lines. Upper Lake (Bhojtal) is divided into BIZ-0, BIZ-1 and BIZ-2; a 1,791.84-hectare eco-sensitive zone is proposed around Ratapani Sanctuary.
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- Locality ID
- A111012961
- PinCode
- 462003