CITY AND THE REALTY SECTOR
The religious and spiritual capital of Punjab, Amritsar houses the Golden Temple, and is known for its food and culture. It gets the highest number of Non-Resident Indian (NRI) visits in a year as compared to other cities in India. As per 2011 census, population of the city is over 1,159,227. In addition to tourism, carpets and fabrics, farm produce, handicrafts, service trades and light engineering are other major commercial activities in the city. Its proximity to the Pak-border and Lahore, which is 30km from here, makes it the frontier post for international trading and commercial activity with the neighbouring country. Local buyers and buyers from the region have traditionally favoured the plotted segment. Builders, who entered the local realty market in the last decade, too, focused on the plotted segment. Some builders are also offering apartments but these are mainly targeted at buyers from abroad. With low demand from the NRI investors in the past few years, demand and supply in the apartment segment has dipped. Builders are now expanding their options in the plotted segment. And these are available in the upcoming areas in the city’s periphery.