New Projects Provide Opportunity to Introduce Liquidity in Reality Market of Amritsar

Apart from existing in Punjab’s list of Smart Cities, Amritsar has also got two the other main infrastructure projects like Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC) and Indian Institute of Management (IIM) — and together all of these will have a ripple effect on the property market in and around the city. Although these declarations have not created any upward trend in the land prices immediately as their implementation will take a few years, the industry is abuzz with hopes of a bright future.

The holy city is an important pilgrim center for Sikhs and is a strategic border town that is well connected by air, road, and rail to the rest of the country and Central Asian countries, but the property in Amritsar growth and price gratitude here have not been very encouraging for the past years. "This led to the need to develop the infrastructure here and add some important industrial and educational projects. That will improve the traditional city into an industrial engine of growth", says city-based industrialist Rajan Bedi, who is running Rs 2, 000-crore business network with interests in various sectors, including, real estate, pharmaceutical, hospitality and agriculture feed.

According to Punjab Local Bodies, local MLA Anil Joshi, Amritsar will make acquisitions immensely from being included in the list of 100 smart cities. "The holy city is not only the main pilgrim center of Sikhs, but also an outstanding trade and industrial center of Punjab and has a detailed master plan, so there will be no problem in the city getting all the smart city amenities over the next few years," he said.

The Government of India has apportioned $1.2 billion for financial year2014-15 to develop 100 new smart cities, and satellite regions around existing cities.

However, the biggest dispute would be the capability of the Parkash Singh Badal government in arranging a minimum of 5,000 acres of area to be developed for economic and housing needs. The state government had earlier dissipated away from the opportunity to have a SEZ project for lack of adequate land. Several industry mavens maintain that these developments should be taken with a pinch of salt. The city is already on the international tourist destinations map, and a record number of visitors from around the world and across the country visit it daily. To provide to the demand of tourists and high-level business conferences and meetings it has over 200 hotels and guest houses, including, three five-star properties.

Earlier, upcoming International airport and Integrated Check post, also known as a dry land port, had brought in various colonizers of national repute to this border town. As many as 60 colonies, including ten mega townships expanded over 100 acres each, were set up mainly on the outskirt of the city and beyond it. These colonies are roughly growing over 700 acres.

When the plan to have a SEZ that was expected to bring in an infrastructural investment worth Rs1, 100 crore to the city, collapsed out due to political contentions. Now, these new projects provide another opportunity to introduce more liquidity in the local market".

Rahul Kumar has an excellent Knowledge about investment in Indian Real Estate industry. He passionate about writing about Real Estate market and investment for more details you can check out his latest articles on http://www.buyproperty.com/articles.