Builders in India

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Properties in Amritsar

Property in Amritsar

Punjab’s Holy city of Amritsar is into an unprecedented property boom. Prospects of rising trade with neighbouring Pakistan, arrival of IT industries and SEZs have altered the real estate profile of the city. Amritsar properties include flats, apartments, plots, houses, retail space etc.

Amritsar-Jalandhar G T Road, Amritsar-Ajnala Road, Amritsar-Majitha road and Amritsar-Wagah road have emerged as hotspots in real estate development. Land prices are rising and appreciating at 60-80 percent in many of the civil areas. Demand is high in posh colonies like Ranjit Avenue, Basant Avenue, Green Avenue and Rose Avenue. The prime commercial areas of Lawrence Road, Mall Road and Court Road are witnessing zooming land prices.

Modernisation of real estate has made the city graduate from independent houses to multi-storeyed housing and cooperative societies. The upgrading of the city airport increased international flights on a per week basis and NRI traffic grew remarkably. Widening of highways to Jalandhar, Pathankot and Wagah made properties in Amritsar dearer for investors as well as property developers.

A number of townships are coming up in Amritsar. Advance India Projects Limited has launched serviced apartments in its township project covering villas and condominiums backed by latest amenities. Nitishree Group’s Shourya NRI City on NH 1, Calrion’s English county type bunglows, Global City, Heritage Group’s Heritage City are ambitious projects in the pipeline. Impact Projects is developing a luxury project on the Amritsar-Wagah bypass. Sharma and Gangahar’s SG Enclave, Satish Estates housing project in Sultanwind and Doburji, Amritsar are important projects to watch out.

In commercial and retail space, after the launch of Maiden Mall more mall-cum-multiplexes like Omaxe Terminal and Omaxe Novelty are coming up. Royal Celebration Mall in The Mall Road has a 7-star experience. Builders such as MBD Group, RSA Builders, Dynamic and Continental are mulling more malls in the city.

DLF is building a huge Special Economic Zone (SEZ) in Chhabba village. Some luxury hotels are also being lined up for Amritsar. Brands like Radisson, Taj and Tivoli Gardens have acquired land in the city for star hotels. With Pakistan planning to grant MFN status to India, the opening of the Wagah land route for trade is gaining momentum and property prices are rising across the board in Amritsar city.