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The border city of Punjab has for long attracted NRIs as tourists (Golden Temple being the main draw) and as investors in housing. The 2004 trade pact with Pakistan has added a new appeal to Amritsar's real estate.
Price Propellers
Some projects underway that could influence real estate prices in future.
1. Transport
Widening and development of major roads, construction of elevated roads, widening of highways to Jalandhar, Pathankot and Wagah and a mass rapid transit system are part of the proposed integrated transport plan
2. SEZ
A 1,000-acre SEZ is being built by DLF on Jalandhar-Amritsar Road.The development is expected to bring investors from the IT, ITeS and hospitality industry and generate 4.5 lakh jobs
3. Airport Upgradation
With the upgrading of city airport, international flights to the city will increase from 12 to 80 per week, improving connectivity for NRI investors
4. Industrial Zones
Two industrial clusters, at Ludhiana and Amritsar, to promote textile exports and a general product zone in Amritsar are being developed with Central funds
Land Use by 2010
| Residential | 44% |
| Government | 27% |
| Transportation | 12% |
| Industrial | 7% |
| Public | 7% |
| Commercial | 3% |
| Figures are percentage share of the total land area of 20,555 acres | |
A major chunk of Jawaharlal Nehru National Urban Renewal Mission (JNNURM) funds will go towards transportation, roads, traffic management and housing under the new Master Plan.
New Residential Projects
| BUILDER | PROJECT | LOCATION | PRICE (Rs)* |
| AJ Builders | Orchard Towers | Airport Road | 24 lakh |
| DC Group | Canton Heights | Tarn Taran Road | 28 lakh |
| Elite County | Vrindavan Gardens | Fatehgarh Road | 30 lakh |
| Collage Group | Windsor | Airport Road | 32 lakh |
| Nitishree | Shourya NRI City | Jalandhar Road | 32 lakh |
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High purchasing power and investments by NRIs have led developers to launch big township projects
Retail Space By 2008
| GT Road | 40% |
| City Centre | 20% |
| Lawrence Road | 15% |
| Mall Road | 15% |
| Others | 10% |
Total retail space supply by 2008: 1.5 million sq ft | |
The retail landscape is changing from shop-based to the one driven by malls. Potential demand from Indo-Pak trade, investments by NRIs and tourist influx is pushing up demand.
| BUYING OPTIONS | ||||
| AREA | CHEAP | PRICE | EXPENSIVE | PRICE |
| Central | Shastri Nagar | 3,500 | Ranjit Avenue | 5,000 |
| North | Batampur | 1,400 | Suraj Avenue | 2,100 |
| East | Sant Nagar | 1,200 | Indira Colony | 1,900 |
| West | Adarsh Nagar | 1,800 | New Model Town | 2,200 |
| South | Uttam Nagar | 1,500 | Aman Avenue | 2,100 |
| Total retail space supply by 2008: 1.5 million sq ft | ||||
| PRICE CHANGE Average percentage price change in 2006 and 2007 (expected) | ||
| 2006 | 2007 | |
| North | 20% | 15% |
| East | 15% | 10% |
| West | 35% | 20% |
| South | 25% | 15% |
| Central | 35% | 20% |
