Ludhiana, a known city in Punjab is zooming away in the wake
of growing construction activities and increasing real estate
developers. The city is seeing money rolling in from a number
of builders including the prominent names like DLF, Aerens and
Omaxe who are being bullish on developing residential as well
as commercial property there.
Ludhiana has already seen the development of its first luxury
apartments in the city in B R S Nagar. It is built by the Singla
Group. The flats in the city are not able to draw large large
interests from the potential buyers. However, there is a large
chunk of professionals who are looking forward to the city.
The group has spent a whopping Rs 90 crore and the property will
feature 99 exclusive flats including Ludhiana’s first penthouses.
A two room bedroom apartment will cost around Rs 33 lakh and goes
up to Rs 1.25 crore for the penthouses.
Each flat will be offered with two air conditioners, a refrigerator,
washing machine, dishwasher and television sets, besides other
amenities. Kothis are an important part of residential culture
prevalent in the city. Also, they are the prime choice of NRIs
who prefer plotted developments and huge houses. A leading real
estate group, Star Developers, is planning to come up with a large
colony to be developed over a large area of 40 acres of land on
Ferozepur Road.
It would contain a complete array of modern facilities keeping
both the Indian residents and NRIs into consideration. The growth
in Ludhiana real estate is mainly spurred on by NRI families and
the increase in the purchasing power of the Ludhiana citizens.
Chandigarh Road and Fero-zepur Road are grabbing the attention
of many real estate biggies who are eyeing the land for development
of integrated townships and mixed use projects.
The rates for high-end plotted developments in peripheral locations
like Sarabha Nagar, Civil Lines and Gurdev Nagar are ranging in
between of Rs 2,200-3,300 per sq ft.
