Ludhiana: The land of five rivers – as Punjab has
famously been known for ages – is now housing some of the leading real estate
developers who have their headquarters in Tier 1 cities – Advance India
Projects Limited (AIPL), Omaxe, Emaar India, DLF and Ansal API are some
of these. Not only Mohali in the Chandigarh capital
region, but most of the other Tier II and III cities of the State are
attracting investors.
The current dispensation led by Chief Minister
Bhagwant Mann seems to be keen to promote the realty sector, as the
government knows well that the real estate sector will give a significant push
to the state’s economy. It is indeed encouraging to notice the entry of major
real estate developers in the state and it is very promising for this segment’s
revival. This shall not only boost the economy of the state but also bring
diversity in terms of the architecture, green building aspect, and long-term
sustainability of the sector.
Shamsheer Singh, Chief Operations Coordinator, AIPL said,
"The Punjab market is showing robust growth. There is a keen interest
shown by Punjabi NRIs' who have the required finances and a desire to own
dwelling or commercial units in their parent state-Punjab. Punjabis who migrate
abroad do have an emotional connect with their home state. Post-Covid everyone
wants to have their own home from where they belong and remain connected to
their roots, especially for the new age generation. Moreover, with rising
incomes and easier financing, a lot of people are investing in real estate as
end users."
Dalip Sharma, Secretary General, Punjab Chamber of
Commerce and Industry, and Director General, India Investors'
Federation said, “A positive environment has been created in the state not only
for the investors but also for the home buyers. RERA has further strengthened
the people’s faith in real estate projects. Hassle-free government clearances
and easy loans for home buyers are contributing to make Punjab an
ideal destination for big developers from the NCR.”
Shamsheer Singh, elaborating further said that every entrant
into Punjab will have to take care
of the state’s environmental concerns as well. “Our townships in Punjab have been incorporated with concepts and
features that truly define them as Sustainable townships and we strive to
incorporate the best practices of being an environmentally responsible
developer without compromising on the functionality and Aesthetics.
Anshuman Magazine, Chairman, CII NR, and Chairman
and CEO – India, Southeast Asia, Middle East & Africa, CBRE said,
“Growth would be supported by investment undertaken by the private sector and
by the government. The growth trajectory of the residential sector is a
testament to its strong fundamentals because this has happened despite a rise
in construction costs owing to high input costs.” BlogsWire
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