Category: Blog

The Punjab government’s efforts have been paying off, leading to a swift growth of the real estate sector also.
Real estate in Punjab works differently than in other major cities of the country. The perception about lifestyle and homes changed when national developers started entering the markets here. Punjab realty saw these developers buying large land parcels and developing projects that completely changed the perception of abodes for the people of the state.

These developers promised features and world-class amenities; and they easily penetrated the market and people steadily shifted to a new trend of apartments & penthouses from an old culture of living in Kothis, bungalows & homes in colonies. Thus, the market became vibrant with the emergence of options such as group housing, sprawling shopping complexes & malls, integrated townships, office complexes, entertainment hubs, IT parks, etc.

Punjab is a state in northwest India that enjoys the status of being located in one of the world’s first and oldest civilizations, the Indus Valley Civilization. Punjab’s capital is Chandigarh, which is governed separately as a Union Territory since it also serves as the capital of neighboring Haryana.Punjab is a land where one can satisfy its appetite for scenic surroundings, religion and legendary hospitality.
However, there is more to credit of the renowned state known for its vigor that another layer to its appeal. History still has its strong imprint in the tourist attractions in Punjab. Kurukshetra, Golden Temple, Anandpur Sahib, Jallianwala Bagh, Sheesh Mahal, Wagha Border are some of the famous tourist highlights in Punjab.The state has grown by leaps and bounds in recent years, with development in every sector especially real estate that has enabled its infrastructure to reap rewards.

The real estate market may be going through a rough patch, but developers still seem to be betting big on the high-end residential projects. In the first nine months of this calendar year, the number of launches in the high-end residential segment has grown by 142 per cent as compared to the corresponding period last year, says a note by real estate consultancy Cushman & Wakefield (C&W).

The number of new launches in the high-end segment stood at 24,032 between January and September as against 9,940 last year.The stupendous rise in new launches in this segment is happening at a time when the overall launch of new inventory across all housing segments remains muted. As per C&W, in January-to-September period, residential units launched in all segments put together – affordable, mid-market, high end and luxury – was a meagre five per cent. According to market experts, low demand is forcing developers to go slow on introducing new projects.