Indian Real Estate: Realty Rise

by : Rajinder Dogra

Punjab Real Estate: An Attempt To Scale Down

In the final stages of procuring land for building integrated township projects, Punjab Urban And Planning Development Authority (PUDA) officials feel this will reduce the massive rise in property prices in Punjab.

For the past few months, they have been acquiring land from agriculturists in Amritsar, Gurdaspur, Nawahshahar, Jullunder, Bathinda, Barnala, Zirakpur and Khanna. Carrying out a demand survey, they will start work in a year's time on township projects to be set up on the public - private participatory or independent model, according to Som Nath, PUDA Chief Administrator.

PUDA will be acquiring 650-acres of land in Amristsar, 300-acres in Gurdaspur, 200-acres in Nawahshahar, 300-acres in Jullunder, 20-acre in Bathinda and another 100-acres in Khanna, Barnala and Zirakpur. The rates will vary from Rs. 900 per sq. yd. to Rs. 7,200 per sq. yd. as per Som Nath. PUDA officials are confident that their township projects will have a bearing on the market price, and that there will be hundreds of applications for one dwelling unit of PUDA.

Only recently, PUDA acquired 336-acres of land at Baran on Sirhind Road, where an integrated township scheme (residential colony and an IT park) is being developed by Patiala Development Authority.

Against the PUDA reserve price, the upcoming mega projects in the state begin at Rs. 12,000 to Rs. 18,000 per sq. yd.

For all dreaming of a home to call their own, top quality, reasonably price accommodation could make it time to head for the green fields of Punjab. "Balle, Balle, Punjab tha Kamal Nahin!"

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