Upsurge in Amritsar Real Estate

Amristar, popularly known as Sikh Holy City is Punjab'sopportunities for both locals and outsiders, (b) it is
second largest town. Amritsar literally means 'pool ofexpected to encourage investors from IT, ITes, BPO
nectar' and is a premier tourist destination famous forand hospitality industries to enter the city and (c) will
Golden Temple built around the sacred pool. It is thehelp in boosting the service sector in the city and make
spiritual and cultural centre for Sikhs and an importantit an important part of the economy. The upcoming
trading city of Punjab. Since the time the Centralproperties upsurge in Amritsar stands testimony to its
Government announced the opening up of tradepotential of becoming a world class tourist destination.
avenues between India and Pakistan in 2004, the realThe standards of living in Amritsar will evolve greatly
estate in Amritsar is witnessing a boom.into the contemporary mode to create international
The property market of Amritsar is developing rapidlyliving style and shopping experience. The growth in IT
as the Government of India and Government ofindustries and SEZs are elevating the real estate
Punjab have released heavy funds. With the missionprofile of the holy city. The role of Punjab government
of taking Amritsar up to the level of a world class city,has been extremely crucial in trying to uplift the city to
both residential and commercial developments in thea higher level. It is actively participating in improving
city are picking up very fast. A lot of attention is beingcity's infrastructure, transportation, water and electricity
given to improving basic services and amenities relatedsupply and other necessities. Their initiative of
to transportation services, sewage management,promoting investments in the city has received good
water facilities, and various others. Leading realtyresponse with various investment projects being
developers like Emaar MGF, Ansals group and Collagepumped in the city. Amritsar is now more than a holy
India Group are soon to launch mega projects to buildplace, it is an upcoming real estate destination for the
various apartments and malls in the city.property investors.
The face of this Holy City is all set to change withAfter the development of cities like Chandigarh and
large number of luxury penthouses, apartments, flats,Mohali, the economy of Amritsar is seeing an upward
etc coming up. The townships of such high standardstrend. The availability of better infrastructural facilities
is apparently an entrée into urban housingcombined with cheaper property prices has led to
enriched with landscaped gardens, golf greens, themeexploration of residential, commercial and retail market
parks, tennis courts, play areas along with schooling,of Amritsar. The response of investors and their
healthcare and other state-of-the-art facilities. Settinggrowing interest in Amritsar real estate is (a)
up of a financial centre, multiplexes, shopping malls,encouraging property developers to bring in more
entertainment zones, recreation clubs and parks is alsonumber of residential projects and commercial space,
planned. This commercial stir has opened wide doors(b) nourishing the economy of the city and modernizing
for retail investments in the city.the trends, and (c) climbing up the ladder of growth
The building up of SEZ by prominent realtor DLFquickly by ranking among the fastest growing tier-III
developers on 1,000 acres of land with an investmentcities of India.
of around Rs.16,000 crores is the most importantWith all this Amritsar is witnessing growth in residential,
breakthrough for real estate in Amritsar. This megacommercial and retail sector with numerous luxury
project will be conducive to overall growth of the cityprojects in the pipeline. Amritsar real estate promises
as (a) it will create large number of employmentexcellent returns on investments.