Ludhiana builder to launch Rs 50 cr project

Known primarily for its industry, Ludhiana today has come a long way and acquired a new, cosmopolitan look with a changed skyline.

Although elsewhere in Punjab, the real estate market is now in its correction phase, the boom in Ludhiana has plateaued and construction activity has started in every nook and corner of the city.

Thanks to the purchasing power of the people, the town has attracted a host of national builders, besides local players joining in.

A Ludhiana-based builder, Deepak Singhal, owner and CEO of Deepak Singhal Engineers and Builders Private Ltd, has announced 99 apartments and six penthouses will be constructed in the city.

These high-end apartments and penthouses will come up on 1.5 acres of land opposite Lodhi Club, near Ferozepur Road. The project is stated to begin next week and it will take a couple of years for it to complete. The total project cost is Rs 50 crore.

Undertaken by Deepak Buildcon Infrastructure, a sister concern of Deepak Singhal Engineers and Builders Private Ltd, this project has been named "Cross Winds Luxury Homes".

The interiors of the apartments are inspired by the movie Garam Masala.

The builders have claimed that the prices fixed for the apartments are affordable as a two-bedroom apartment with an additional utility room is priced at Rs 29 lakh.

Similarly a three-bedroom set will be offered for Rs 31 lakh and a four-bedroom set would cost around Rs 45 lakh. Six penthouses will be priced at Rs 63 lakh, Rs 73 lakh and Rs 83 lakh, each measuring 3,000 square feet of area.

Each apartment will be fully furnished having kitchens equipped with microwave Owens, refrigerators, chimneys, all rooms will have attached bathrooms, plastic paint, vitrified tiles, wooden floors, two air conditioners per flat, fancy lights, fans, televisions, washing machines, dish washers, water filters, bathroom geysers and many more. Penthouses will have splash pools, terrace gardens.

Speaking to Business Standard, Deepak Singhal said this project would set trends in the northern region. "Such luxury apartments are concentrated only in Mumbai and Bangalore and the prices we are offering are unique. The choice is between down payment and 5 per cent rebate on the cost and instalments of two years. Apart from all the facilities, we will also provide them with 24-hour power backup."