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Real Estate Ludhiana

Ludhiana, the industrial town of Punjab is gradually reinventing itself from being the industrial capital of small-scale industries to an emerging city with hi-tech growth prospects, followed subsequently by real estate boom. Ludhiana has been a predominant player in the industrial map of India for its bicycle & bicycle components industries, woolen garments, hosiery goods, sewing machine and parts & machine tools. However, the city has evolved with times as the administration takes initiatives to attract investments from the technology sector like the IT, ITES and the BPO sector. Genpact is one of the many companies making serious expansion plans in Ludhiana. And as investments start pouring in, there has been a marked demand for residential and commercial properties in Ludhiana propelling a boom in the realty sector.

Ludhiana that thrived on the small-scale sector has of late in the last 4-5 years evolved following a congenial business environment and a significantly secure law and order situation. This is also one of the determining factors for more and more companies offering to invest in the city. Besides that, Ludhiana also boasts as a premier centre for education, thereby getting a niche over other cities in the procurement of skilled workforce required for the industries setting up bases there. Moreover, its easy connectivity to the national capital Delhi as well as Rajasansi international airport, Amritsar has proved to be an advantage for business prospects in Ludhiana.

The recent real estate development in Ludhiana is a substantial reference to the boom experienced by the industry in the wake of pouring investments into the city. With the growing industrial sectors, there has been a dearth of residential spaces in the city due to the migration of workforce from other cities. Moreover, this has paved the way for development of mall space as a basic need to cater to the disposable incomes generated - at the handsomely paid corporate sectors. Top developers like JMD Promoters Ltd have planned a shopping mall 'JMD Govardhan City Centre' in the city with a capital outlay of Rs.100 crores and many more are in the offing.

In the face of the changing realty scenario in Ludhiana, there has been a great interest shown by the major developers from within and outside Punjab. A few prominent names among those are the JMD promoters, Silver City Group of Companies, Ansals, Gulmohar, DLF, Parsvnath Developers and Omaxe Construction Ltd. However, the most significant among those is the real estate joint venture between Emaar properties of Dubai and MGF developers of Delhi. Considered as the biggest FDI in Indian real estate investments, Emaar-MGF joint venture is sanctioned to develop a golf view township in Ludhiana. There are also proposals of multi-use industrial parks to be developed in Ludhiana including an Integral textile park. However, the most promising growth prospect for the city would be the approval for the proposed SEZ in the 'Jalandhar-Ludhiana-Hoshiarpur' region.

As industry and real estate sector expands beyond the metros to the Tier II and III cities, owing to congestion or inexpensive realty, it has been the boom time for the smaller cities to make a mark; and this is evident from the rapid escalation of property prices there. And if Ludhiana is taken into account it presents the growing spirits of being among the fastest growing cities in India.

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