Historically in Punjab, infrastructure and real estate development has been scattered and mostly run by families or single entrepreneurs. The industry was driven by subcontracting or contracting jobs for which the output was not well defined. Most realty companies were closely held by families business, until very recently when we saw the advent of the new foreign investors coming in and companies going the IPO route

The entry of corporate houses into the real estate arena has changed the landscape of Punjab’s real estate. Today the industry is much more professionally managed. Though small companies still do exist but the number of big players entering the business has increased. The real estate has become a booming sector and has been forced to become transparent in its dealings sourcing professionally qualified people from other industries.

The Future of Punjab

Punjab has grown a great deal in recent years, with development in every sector especially real estate that has enabled its infrastructure to reap rewards. Staying in step with booming property prices, construction costs have shot up significantly in Punjab over the past few years. According to some estimates, property rates in Punjab have risen by 30% to 40% within just 12 months.

As per the industry soothsayers, Punjab is expected to get a major share of a projected Rs 130,000 crore investment in real estate by 2010. The state is likely to zoom in the wake of commercial sector development as a major chunk of this handsome investment will go towards the commercial sector.

Punjab has taken a major lead when it comes to real estate projects, with mega housing and retail infrastructure projects like villas, Farm Houses, Residential Apartments, Commercial Complexes, shopping Malls and Townships.Every where you turn a new construction project is in preparation changing the face of what Punjab used to look like.

Some of the major cities & towns where developments are planned in Punjab include Ludhiana, Mohali, Jalandhar, Amritsar, Patiala, Hoshiarpur, Khanna, Gurdaspur, Kapurthala, Nawanshahr, Ferozepore, Ropar, Faridkot, Muktsar, Moga, Bathinda, Rajpura, Mansa and Sangrur

Amritsar has especially seen rapid growth in the real estate sector with exorbitant land prices. Innovative real estate developers in the city, encouraged by the Punjab government’s urban development policy have come up with an array of commercial and residential projects. The initiative of the government of Punjab in promoting investments has gained positive response with large-scale investments in the realty sector.

 The upgrading of city airport has further increase Amritsar’s value and the city has graduated from independent houses in private colonies to multi-storied housing, Townships, luxury Penthouses, Malls and other commercial complexes.