| The project, located on the main Jalandhar-Amritsar GT road, barely 2.5 km from the Amritsar Gate will have an initial investment of around Rs 25 crore. Besides that, the group is also coming up with residential townships in Ludhiana and Khanna. |
| The total area under these residential townships will be about 400 acres, (including Amritsar) and each project will cost around Rs 250 crore. The company is already developing a commercial and IT park at Mohali, which will be about 3 million square feet in area. |
| Gagan Cinema, which was earlier acquired by AIPL, is being demolished to make way for the mall. Spread over an area of 2.5 lakh square feet, the mall will have a multiplex, a food court, leisure and entertainment areas, and is scheduled to be operational from March 2007. |
| The mall will feature a four-screen multiplex on the third and fourth floors with the latest digital technology. Talking to Business Standard, Sanjay Sachdeva, vice-President (marketing), AIPIL, said, besides the advantage of an excellent location, the mall would have the advantage of being the first mover. |
| Besides Amritsar, Celebration Mall is coming up at 8 other locations in north India""Ambala, Gurgaon, Ludhiana, Dehradun, Khanna, Jalandhar, New Delhi, and Chandigarh. |
| In the last fiscal, the turnover of the company was Rs 490 crore. This year, the group is expecting profits to the tune of Rs 1100 crore, as construction work worth Rs. 2,000 crore is in progress in Punjab and Haryana. |
| The group brings the concept of service apartments and penthouses to Amritsar for the first time, through its upcoming township, which will have villas and condominiums. The project is expect to start on March 6, and will be completed within two months. It has already received approval from PUDA(Punjab Urban Development Authority). |
| Spread over 115 acres, the township at Amritsar will comprise exclusive independent villas, condominiums, row houses and plots, and offer some of the best features ever offered in Amritsar. |
| "The highlights of the AIPIL township are its 50 acres of landscaped greens, theme parks, neighbourhood lawns and forest areas, golf greens, pool, tennis courts, mall-cum-multiplex, health-care centre, school, rain water harvesting, club house, 24-hour power and water, doctor-on-call, CCTV security, and Wi Fi facility," Sachdeva said |
| AIPIL penthouses with terrace gardens will cost Rs. 1.5 crore. |
| Commenting on the selection of area for real estate development, Daljit Singh, managing director, Advance India Projects Limited(AIPIL), said, "We chose Amritsar because it is virgin territory, with great potential due to the international airport and SEZ." |
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