A mid-priced seg­ment house in Am­rit­sar

Hindustan Times (Chandigarh) - Estates - - HT ESTATES - ht­es­tates@hin­dus­tan­times.com

The city has three main res­i­den­tial clus­ters – the old city, the newer but de­vel­oped ar­eas and then, the outer de­vel­op­ing area com­ing around na­tional high­ways con­nect­ing the city with ma­jor towns in the state. “Green Av­enue, Vas­ant Av­enue and Ran­jeet Av­enue are the de­vel­oped ar­eas with most sup­ply con­cen­trated in the sec­ondary mar­ket. Price move­ments here are rel­a­tively sta­ble. Grand Trunk Road (NH-1) is the new hub for sup­ply cre­ation. Ma­jitha and Air­port roads are also wit­ness­ing sup­ply ex­pan­sion.

Some of the projects com­ing up around these ar­eas in­clude An­sal City (NH-1), AIPL Am­buja Dream City (NH-1), Am­rit­sar One (NH-1), Splen­dor May­fair County (Air­port Road), Al­pha In­ter­na­tional City (NH-1), SG heights (Ma­jitha Road), Bless­ing City (Air­port Road), and Global City (NH-1).

Buy­ers have op­tions to choose from in­te­grated town­ships to smaller group hous­ing projects. Plots are avail­able in dif­fer­ent sizes, gen­er­ally vary­ing from 50 sq yard to 1,000 sq yard.

The mid-priced res­i­den­tial seg­ment is the most dom­i­nant seg­ment in terms of sup­ply and de­mand in Am­rit­sar, so a buyer look­ing for a plot­ted or mul­ti­storey hous­ing in the city has rel­a­tively more op­tions than buy­ers in other price seg­ments.

Apart­ment prices vary ac­cord­ing to size, builder, lo­ca­tion, and pos­ses­sion sta­tus. Though, prices range from ₹30 lakh to ₹2 crore for apart­ments, but, most of the apart­ment sup­ply is in the ₹40 lakh to ₹60 lakh price range. Most of the cur­rent sup­ply is lo­cated in the 1,700 sq ft

AM­RIT­SAR RES­I­DEN­TIAL SEG­MENT OF­FERS VAR­I­OUS OP­TIONS FOR HOUSE HUNTERS IN THE BUD­GET OF ₹40 LAKH TO ₹60 LAKH

to 1,800 sq ft sized apart­ments with 2-BHK and 3-BHK (bed­room-hall-kitchen) con­fig­u­ra­tions.

Apart­ment sup­ply is mainly tar­geted to­wards the de­mand from out­side the city. Within the city, most de­mand is lo­cated in the plot­ted seg­ment. In the plot­ted seg­ment, in the older parts of the city, most sup­ply is con­cen­trated in the re­sale mar­ket. In the Im­prove­ment Trust-de­vel­oped ar­eas like Green Av­enue, Vas­ant Av­enue and Ran­jeet Av­enue, in this prices range 100 sq yard to 200 sq yard plots can be ex­plored. In the New Am­rit­sar area on the GT Road, the price range for a plot is around ₹20,000 per square yard to ₹25,000 per sq yard.

In new projects com­ing up in the city, prices on an av­er­age are around ₹10,000 to ₹20,000. Plots on the city's out­skirts cost about ₹9,000 to ₹10,000 per sq yard.

In these ar­eas one can ex­plore plot sizes rang­ing from 250 sq yard to 500 sq yard.

The floors gained in rel­e­vance as plots be­came ex­pen­sive in the city over the last decade. It has be­come un­af­ford­able for most buy­ers to buy land near the city and con­struct a house in the price range of ₹40 lakh to ₹60 lakh.

Most floors are avail­able in this price range. Floors in the city are avail­able in dif­fer­ent lo­ca­tions, but, most of the sup­ply is con­cen­trated on the GT road and the air­port road. The ground plus two (G+2), G+3 and G+4 are the main con­fig­u­ra­tions for the floors in the city. Floors gen­er­ally come with pro­vi­sions for open park­ing, stilt park­ing and base­ment park­ing vary­ing with project and con­fig­u­ra­tion.

The price for floors range from ₹40 lakh to ₹60 lakh in most projects. The 2-BHK (bed­roomhall-kitchen) floors are avail­able at an av­er­age price of ₹42 lakh.

The rel­a­tively big­ger 3-BHK and 4-BHK are priced be­tween ₹55 lakh and ₹65 lakh. The size of 2-BHK floor ranges from 1150 sq ft to 1,400 sq ft, and for the 3-BHK floor, size varies be­tween 1,600 sq ft to 1,850 sq ft.

HT FILE

The mid­priced res­i­den­tial seg­ment is the most dom­i­nant seg­ment in terms of sup­ply and de­mand in Am­rit­sar, so a buyer look­ing for a plot­ted or multi­storey hous­ing in the city has rel­a­tively more op­tions than buy­ers in other price seg­ments.

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