CITY AND THE REALTY SEC­TOR

Hindustan Times (Chandigarh) - Estates - - NEWS -

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.

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