Real Estate Market of Punjab on Development Track

March 21, 2007	(Be the first to rate this story!)  Loading ...
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Driven by ongoing construction activities, Punjab is witnessing constructive changes in its real estate market. This has attracted large interests from the Punjabis across the world, and is eager to add the state in their overall investment portfolio, but their potential has not been recognized by Indian builders for long.

However, few factors have come forward which are hampering the growth of the state. Earlier, urban planning was limited to Chandigarh, its satellite township Mohali, ad a handful of other cities. The remaining part was left in vain, and suffered from urban blight. In most cities including Amritsar and Ludhiana, infrastructure facilities are woefully not enough.

Ludhiana, with some residential projects on track, has emerged as an exception. But no big real estate developer seems to notice that the potential of other cities in Punjab to afford exclusively planned housing. This is why, most of the Punjab could not witness planned housing explosion.

Some small private property developers have took the initiative to build their own enclaves in places like Zirakpur, Kharar, Banur and Rajpura. The same trend has been extended to Mohali in a phased manner. Now metropolitan style urban development is stepping into major cities of Punjab.

Amritsar’s International Airport, spurred by the Golden Temple-centric pilgrimage has experienced large growth in the past three years. Talking about other regions in Punjab, they are also witnessing a boom in their residential property sector. Jalandhar and Kapurthala make up for the heart of NRI belt. The highway connecting these two cities has three esteemed institutions situated on it in close proximity to each other.

All such developments are trying to give the Punjab real estate a new meaning and value.

News Published Under:   Real Estate India |

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