Punjab real estate expanding beyond Tricity

The history of Punjab is testimony to the fact that the state has always been a fertile land for opportunities. It is one of the early Indian states to have a diaspora in the European nations; around 2.5 million to 10 million people from the state are now present in countries such as Britain, Canada, United States, & Western Europe.

The NRI population led to the elevation of the inward remittances received by the state; the Indian recipients use a fair share of these remittances to create an asset. And, the real estate sector is emerging as one of the best options to utilize those savings.

The factors working in favor of Punjab as a realty hotspot are its location, connectivity to major industrial hubs of North India and the tourist destinations, range of several industries operating within the state.

Punjab‘s real estate demand and quality have been driven by the rising aspirations of the people inspired by the foreign culture. With the influence of foreign lifestyle comes the culture of integrated societies, modern high-rise apartments and modern commercial centers.

Developers that forayed into these kinds of establishments purchased large land parcels and brought the desired edifices into the homeland of Punjab. In no time, living in these urban structures became a stature of living.

The trend has continued ever since; the only difference being, it was concentrated in and around the areas of Tricity only. The developers who established a firm grounding here are now looking to expand beyond the popular destination of Tricity; even the new entrants are looking to enter the Punjab real estate due to the burgeoning opportunities and demand from the expatriate section.

Currently, as the country’s economy is healing from the effects of Corona, foreign investors and NRI’s have begun to see the immense potential of India.

Cities like Ludhiana, Patiala and Amritsar have become prime choices for the developers, apart from Tricity, to plan integrated townships and modern commercial complexes. Ludhiana shows umpteen signs of becoming the next residential hub. To begin with, it is the second-largest city in North India after New Delhi.

Ludhiana has always been an industrial town, with industries ranging from textile, hosiery, apparel, etc. As the Atmanirbhar campaign is gaining prominence around the nation, Tier II-III cities like Ludhiana, Bathinda, etc. are coming out as the most suitable locations, and people are flocking for better job opportunities, leading to a rise in rental accommodations. The real estate is likely to change here with the amalgamation of these factors. Hence, it is the opportune time to invest here.