Real Estate Growth in Punjab

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Punjab is a state in northwest India that enjoys the status of being located in one of the world’s first and oldest civilizations, the Indus Valley Civilization. Punjab’s capital is Chandigarh, which is governed separately as a Union Territory since it also serves as the capital of neighboring Haryana.Punjab is a land where one can satisfy its appetite for scenic surroundings, religion and legendary hospitality. However, there is more to credit of the renowned state known for its vigor that another layer to its appeal. History still has its strong imprint in the tourist attractions in Punjab. Kurukshetra, Golden Temple, Anandpur Sahib, Jallianwala Bagh, Sheesh Mahal, Wagha Border are some of the famous tourist highlights in Punjab.

The state has grown by leaps and bounds in recent years, with development in every sector especially real estate that has enabled its infrastructure to reap rewards. Real estate in Punjab is all set to raise the bar of performance a notch higher each day thereby carving out a substantial niche for itself among other counterparts competing for the best. Staying in step with booming property prices, construction costs have soot up significantly in Punjab over the past few years. According to some estimates, property rates in Punjab have risen by 30% to 40% within just 12 months.

As per the industry soothsayers, Haryana and Punjab are expected to get a major share of a projected Rs 130,000 crore investment in real estate by 2010. The state is likely to zoom in the wake of commercial sector development as a major chunk of this handsome investment will go towards the commercial sector.

The real estate projects in Punjab have already come up to the pipeline’s brim. Everyday, there is an announcement of some projects being launched in the state or some completed. The plethora of projects gives the consumer the liberty to choose as per the budget and requirements as well. The boom ensures the availability of multiple projects to choose from at every segment.

Upcoming Cities in Punjab

Click Map of Punjab to Enlarge View

Major cities of Punjab witnessing rapid growth in real estate include Amritsar, Jalandhar, Ludhiana and Patiala. Chandigarh is a city that is making growth in both commercial and residential sector as compared to its sister cities in Punjab. However, the demand for housing sector in Chandigarh has increased to such an extent that it is now outstripping the supply. The limited area to expand the residential area and strict bylaws are the major reasons for this scenario.

There is also fundamental and growing demand for office and retail space because of the sustained economic activity driven by software companies establishing their presence in the first planned modern city of India.

Indianrealtynews.com brings you a comprehensive study presenting the hot property locations across Punjab within the table given below.

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