MalharganjPlotted Development
HOUSING FOR ALL UNDER PRADHAN MANTRI AWAS YOJNA PMAY KSHIPRA PARISAR PART B
INDORE MUNICIPAL CORPORATION
May 2025registered
Jul 2027target completion
Declared cost₹99.74 LakhScale12 plotsAuthorityRERA Madhya Pradesh
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Detailed ReportELITE ESTATE
01
Complete project overview
RERA Madhya Pradesh · Registration filing- Plots
- 28 plots
- Quarterly reports
- 5 on file · latest Jul 2024 - Sep 2024quarterly progress certificates filed with RERA
Timeline
Project startedSep 2024
RERA registeredDec 2024
Proposed completionJun 2027
TodaySep 2026
02
Builder’s track record
RERA Madhya Pradesh · Builder registrationLOKENDRA BHAMBHANI
IndividualPromoter type
1Projects
1City
2024–presentActive
Timelineevery project, start → promised completion
The only project Horizon has read from this builder so far. Dates are the project’s start (where filed) and target-completion dates on the RERA filing; delivery isn’t reported here.
03
Location & price analysis
RERA Madhya Pradesh · Registration filing- This project
- 49 new projects last year
- 598 nearby projects
- District
- Indore
- Tehsil
- Bicholi Hapsi
- Planning area
- Indore
- Address
- KHASRA NO.90/1, 116/1, BICHOLI HAPSI , VILLAGE MIRZAPUR, INDORE
What’s nearby
Schools2 schools within 1km · 3 educational institutions within 1km · College or university 1.1km away
HealthcareHospital 114m away · 34 clinics within 1km · Pharmacy within 500m
Lifestyle2 parks within 500m · Gym or sports centre 1.4km away · 23+ restaurants and cafes within 1km
ShoppingSupermarket 569m away · Bank 241m away · ATM within 500m
Getting around
Expressway 1.0 km · Left ExitPrimary road 1.1 km · Shaheed Tantiya Bhil RoadRailway line 1.4 km · DADN - INDB Rail SectionRailway station 1.4km away (Saifee Nagar)6 bus stops within 500m
Water & environment
Canal 952 m · Nahar BhandaraWater body 1.0 km
distances only — not a flood assessmentPrice analysisdeclared build cost — not a sale price
₹3.91 Cr declared to build 28 plots. What that works out to:
₹13.96 Lakhdeclared cost per plotall-in — land + construction
64%of the cost is land
This is what the builder filed it costs to build — land plus construction, at registration — not a sale price. The gap to an asking price is their margin, taxes and anything the filing doesn’t carry.
04
Government Guidance Rate
MP Department of Registration & StampsIn Madhya Pradesh it’s called the collector guideline rate.
₹23,412per sq yd
₹28,000per sq m
- Which rate
- open plot, residential
- Matched to
- The middle rate of the 369 colonies within 3 km of this project — its neighbourhood, not a single colony.
- In force
- 2026-2027 schedule · effective Apr 2026
Colonies around this project
| MADHUR VYUH, RANAVAT TRADE CENTRE | ₹70,000 / sq m | ₹58,529 / sq yd | 120 m |
|---|---|---|---|
| MACHANIC NAGAR, BHANVAR KUA ROAD PAR STHIT | ₹52,000 / sq m | ₹43,479 / sq yd | 150 m |
| TRASPORT NAGAR BHANVAR KUA ROAD PAR | ₹85,000 / sq m | ₹71,071 / sq yd | 210 m |
| ANAND NAGAR SHEH NAGAR PROFEESER COLONY/ VIDHYA NAGAR/SWADESH NAGAR(BHANWARKUNWA ROAD PAR)/PROFFESER COLONY A.B. ROAD PAR | ₹75,000 / sq m | ₹62,710 / sq yd | 270 m |
| TOWAR CHOURAHE SE BHANVARKUNWA CHOURAHE TAK | ₹46,000 / sq m | ₹38,462 / sq yd | 290 m |
The same schedule, published for the places around this one — so the figure above reads in its neighbourhood, not alone.
What this number is — and isn’t
- The minimum value Madhya Pradesh’s registration department will register a sale at. Stamp duty is usually charged on this or the price in the sale deed, whichever is higher.
- Not a market price. Sales normally register above it, and how far above varies by place and by project.
- Its fit depends on the grain the state publishes at. This one is matched at the level of locality, and says so above. How Horizon decides what to show.
05
Planning authority
RERA Madhya Pradesh · Approved building planLayout Permitapproved 5 Dec 2024 · 1 yr ago
The occupancy certificate — the proof that isn’t here
An approved plan is the government’s approval to build. It is not proof the project was built to that plan. That sign-off is the Occupancy Certificate (OC) — issued by the planning authority, the same body that approved the plan, not by RERA— and it isn’t in this record. Ask the builder for it, or check with the authority. Without an OC, banks may decline home loans, and any deviation from the approved plan carries penalty or demolition risk.
The approving body, at scale
Indore
Town & Country Planning area · Indore districtHas approved 1,123 RERA projects — about 1 in 5 in Madhya Pradesh, more than any other body in the state.
a plotted-layout market — 34% apartments · 66% plotted layouts. Your plotted layout is this body's core business.
- Builders
- 776
- On record
- 37,289 flats · 95,164 plots
- Reach
- 10 tehsils
- Since
- 2017
Volume and mix are context, not a verdict — a busier body isn’t a safer project. And this counts RERA-registered projects on Horizon’s record, not all construction.
06
Complaints & litigation
RERA Madhya Pradesh · public recordComplaints register
Not published. RERA Madhya Pradesh doesn’t publish a complaints register in the record Horizon reads.
So there is nothing to count here — which is not the same as nothing having been filed.
What the builder declared
Declared to RERA Madhya Pradesh- Litigation
- None declared in this filing
Only what the builder declared, or what RERA Madhya Pradesh records itself, can appear here — a case filed elsewhere and never declared would not.
Not a verdict. A complaint can be dismissed and a case can be won; an order can be appealed.
Not a clean bill. An empty record means nothing was filed with RERA Madhya Pradesh, or that this register doesn’t publish it — never that nothing happened.
07
Other projects nearby
The register · within 25 km605 plotted projects still under way within 25 km. Step out ring by ring:
Of the 598 projects the radar draws within 6 km — every kind, every stage — 196 are plotted projects still under way. This list keeps only those, and looks further out.
1 project within 1 km — showing the nearest 1.
Projects within 25 km, nearest first — closed ones excluded, nothing ranked. This project’s coordinate is approximate, so distances are rough.
What this record cannot tell you
- Build quality — no filing records how well it was actually built.
- Private disputes — only complaints escalated to the authority appear here.
- What it will be worth — the record is the past; it does not price the future.
- Complaints — RERA Madhya Pradesh does not publish a complaints register. This read cannot speak to them either way.
Sources
Where each section of this report comes from.
- 01Complete project overview
- The project's registration filing with RERA Madhya Pradesh, as the builder submitted it.
- 02Builder's track record
- RERA Madhya Pradesh: the builder's registration.
- The track record: every project filed under this builder, counted by Horizon across the state RERA registers it holds.
- 03Location & price analysis
- Address, pincode and declared cost: the RERA Madhya Pradesh filing.
- Coordinates: geocoded by Horizon from the filed address with Google Geocoding, matched to the locality centre, not the exact site.
- What's nearby and getting around: distances measured by Horizon on OpenStreetMap data, © OpenStreetMap contributors (ODbL). Not from the RERA filing.
- The Horizon Radar: the RERA-registered projects Horizon holds within 6 km of these coordinates.
- Map: © OpenStreetMap contributors (ODbL).
- 04Government Guidance Rate
- MP Department of Registration & Stamps.
- 05Planning authority
- RERA Madhya Pradesh: the approved building plan, as filed.
- The approving body's other projects: counted by Horizon across the register.
- 06Complaints & litigation
- RERA Madhya Pradesh's public record lists no complaints or litigation for this project.
- 07Other projects nearby
- The RERA-registered projects Horizon holds within 25 km of these coordinates.
Compiled by Horizon from public records. Each fact is reproduced as its source publishes it, and Horizon does not verify filings on the ground. The live record: gethorizon.in/projects/elite-estate-indore-bicholi-hapsi-jf5znzzw.
Horizon does not rate, review, score or signal, and it gives no verdict, opinion or forecast. Its only aim is to seek the truth through data: what the public record says, where each fact comes from, and where the record is silent. Nothing in this document is legal, financial or investment advice; what to make of it is yours to decide.