Amritsar : A mature market housing million

AmritsarBy Accommodation Times News Services

Amritsar: Growth in real estate in the city has been geared up since the government opened up the trade between India and Pakistan. A flurry of commercial activity followed, and enterprising real estate developers in the city, encouraged at the same time the Punjab Government’s urban development policy came up with an array of residential and commercial projects. As NRI traffic grew, and highways to Jalander, Pathankot and Wagah widened, Amritsar figured on every property developers plan.
Followed the launching of the Maiden Mall, half a dozen other developers are engaged in the construction of mall-cum-multiplexes in the city.
The Royal Celebration Mall by AIPL on 2.5 lakh sq ft promises a 7-star experience on Mall Road. MBD group, RSA Builders , Dynamic and Continental are also gearing up to meet the demand for convenience shopping in the city. DLF will be setting up the 1,000 acre Special Economic Zone in Chhabba Village, Amritsar, at an investment of Rs 15,981.17 crore. Luxury hotels are making a debut in the city, as Radisson, Taj and Tivoli Gardens have acquired land in the city for construction.
Township living of international standards has made its way into the urban housing scene in Amritsar. Advance India Projects Limited has even introduced serviced apartments in its 115 acres township along with villas and condominiums.
The Punjab Urban Development Authority is pitching in with a 650 acre urban estate on GT Road, as is Housefed with multi-storeyed deluxe flats under the New Amritsar Development Scheme. The Amritsar Improvement Trust has acquired 2375 acres to develop urban projects.
Being a capital of Punjab, the city is major trade hub
Urban policy of the state government has encouraged to developers to come up with colossal projects.
Chhabba and Mall Road is new hot-spots for commercial projects.
GT Nagar and Amritsar- Wagah bypass are preferred for residential projects.
Under the New Amritsar Development Scheme, a lot of residential projects are in pipeline.

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