Real Estate Jalandhar
The real estate market of Jalandhar is among the most promising ones in Punjab today. Otherwise famous for its sports goods, wooden and leather products, the city now offers spectacular opportunities in the real estate both for end-users and investors.
As an upcoming real estate destination, Jalandhar is going through extensive construction activities all around. Given the underlying business opportunities, the zone of Ludhiana-Jalandhar is witnessing major developmental activities with as many as four mega projects on GT Road alone.
Real Estate Scenario in Jalandhar
For quite sometime Jalandhar has caught the attention of Non Resident Indians (NRIs), who were earlier interested more in Chandigarh. Nonetheless, the real estate developers like DLF and Ansals have observed the trend well and are coming up with integrated townships meant for NRI segment in the city.
Local real estate major like Nitishree Group has also been developing an exclusive residential township for NRIs named as Shourya NRI City on Jalandhar Amritsar highway. The huge 150 acre township, merely 8-kilometres from the Golden Temple, will house both residential and commercial complexes.
Not just from the investment point of view, more and more NRIs are considering investments in Jalandhar to lead their post-retirement lives and this has further triggered the demand for residential properties in Jalandhar.
With these trends you can notice good availability of lifestyle apartments and luxury bungalows in Jalandhar with modern amenities of swimming pools, entertainment clubs, and hi-tech connectivity via wi-fi etc.
As far as the property prices are concerned, they have shot up by more than three fold in the past couple of years. Presence of high net-worth individuals at the residential locations like Model Town has given fillip to the surrounding commercial office spaces in Jalandhar.
The city is also observing boom in retail business and nearly all national and international lifestyle brands like Reebok, Adidas, Levis etc have set up their base in the town for that matter. At least three projects on shopping malls are likely to come up at different locations of the city in the near future.
Small and Medium Enterprises who have been playing major role in city’s local economy for the past decades are observed in expansion mode and this has further fuelled demand of commercial properties in Jalandhar.
Prices of commercial land in Jalandhar have doubled in the past 12 months. Although the industry experts assert that prices between Rs 2,500 and Rs 4,500 psft for commercial properties in Jalandhar in major locations like Ludhiana Road and central part of the city are quite reasonable vis-à-vis the present scenario. As per the estimates, the prices are likely to go up by more than 150 per cent in the next 6-8 months.
Overall the real estate market of Jalandhar is set to sustain the on-going positive trends. It's great time ahead for those looking for property in Jalandhar as an investment option.
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