Real Estate in Punjab

Published: 06th January 2009
Views: N/A

Historically in Punjab real estate development has been disorganized and run usually by families or single entrepreneurs. The industry was mainly driven by subcontracting or contracting jobs for which the production was not well-defined. Earlier, these companies were closely held by families business, until we saw the advent of foreign investors coming in and companies going the IPO route.

The foray of corporate houses into the real estate arena has changed the landscape of Punjab property market. Now the industry is comparatively better managed. The sector has been booming since the last few years and has been forced to become transparent in its dealings sourcing professionally qualified people from other industries.
As per the industry sources, it is anticipated that Punjab will get a major share of a projected Rs 130,000 crore investment in real estate by 2010. The state is likely to boom a lot commercially as a major chunk of this investment will go towards the commercial sector.
The state has taken a major leap when it comes to real estate projects, with mega housing and commercial projects like villas, Farm Houses, Residential Apartments, Commercial Complexes, shopping Malls and Townships. Every where one can see a new construction project in preparation aiming to change the face of Punjab from what it is used to be like.

Some cities and towns where major developments are planned in Punjab include Ludhiana, Mohali, Jalandhar, Amritsar, Patiala, Hoshiarpur, Khanna, Gurdaspur, Kapurthala, Nawanshahr, Ferozepore, Ropar, Faridkot, Muktsar, Moga, Bathinda, Rajpura, Mansa and Sangrur.
Real estate in Amritsar Amritsar, especially has witnessed a rapid growth in the real estate sector with very high land prices. New real estate developers in the city have come up with an array of innovative commercial and residential projects. The participation of the government of Punjab in promoting investments has gained positive response with large-scale investments in the realty sector.

The upgrading of Amritsar's airport has further increased the city's land and real estate value and it has graduated from independent houses in private colonies to multi-storied housing, Townships, luxury Penthouses, Malls and other commercial complexes.
Everyone in the city dreams to own a house. In the past few years, the income of middle class is rising. Besides the income factor, low interest rate on bank housing loan and modern generation's aim of house ownership are some basic reasons for development in the sector.
Real estate in Chandigarh
Chandigarh is termed as the first planned city of India. With changing times, its boundaries have increased to the radius of 40-kms from 8-kms, and a number of settlements from the states of Haryana, Punjab and Himachal Pradesh have been incorporated in the city.

Of late, realty majors like DLF, Ansal, Unitech and Omaxe have come up their projects in different parts of the city.

What have been the Growth Drivers?

One of the major growth drivers in the city is development of 375 acre Chandigarh Technology Park (CTP) at Manimajra, north-east part of Chandigarh, and IT park in Mohali, which has attracted the attention of IT companies to the city.

The projects boast of amenities like those available in the cyber cities of Bangalore and Hyderabad. In addition, DLF has set up its Infocity within the CTP zone, to extend world-class facilities to these techno-giants.

As these projects have been enjoying success, real estate in Chandigarh has turned quite hot. The capital prices as well as rentals in the commercial segment have been consistently inflating in the past 3-years, however a bit of slowdown is noticed in the residential sector.

Also, the city is very well-connected with all the major northern parts of the country and the condition of local infrastructure is also quite impressive.

What is the Future Outlook?

With business environment turning quite positive in the capital city of Punjab, the property market of the city is set to remain on high trajectory of growth. As per the professionals from the industry, Chandigarh's real estate market will be mainly driven by the IT industry, especially in the commercial segment and property trends will also be in line with the developments in the segment.

Real estate in India
The growth in the real estate sector has moved to 35 per cent, which is estimated about US $ 15 billion and in future decades it is expected to grow at 30 per cent annually. It shows people's interest in real estate. After 1995, a large number of business groups like IT companies and BPOs have moved to Indian market for establishing their offices, hotels, factories, and workshop. This has given a huge kick to the real estate market.

Sukhpreet Kaur writes on behalf of, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property, browse through Punjab Real Estate and Properties.

Report this article Ask About This Article

More to Explore