Multiplexes booming in Amritsar

Multiplexes are coming up in Amritsar in a major way. The building plan of two multiplexes has been approved, one of them is likely to be operational in March next year and about six are under consideration.

Moreover, sources in the industry said nearly half a dozen of multiplexes and malls are in the pipeline.

This clearly indicates that the thaw in Indo Pak relation has not only succeeded in beaming a realty boom but also the developers in Amritsar are anticipating the borders opening and for the customer-base to increase which would include visitors from across the border up to Lahore. 

Omaxe Construction Ltd, in association with local groups, is coming up with two multiplexes in Amritsar, 1 at Mall Road and 1 at Airport Road which will house a hotel, with a total investment of around Rs 250 crore.

The company has tied up with Novelty for bringing up "Omaxe Novelty Mall" and a multi-level "Omaxe Terminal" is coming up as a joint venture with the local Heritage Group.

The Omaxe Novelty Mall is coming up at the Lawrence Road-Mall Road crossing, while the multi-level Omaxe Terminal would be located on Airport Road.

Talking to Business Standard, Vice-President (Corporate Communications) Amitabh Bhattacharya said, "The Omaxe Terminal, spread over 400,000 square feet, the mall will cater for international travellers and local people. There will be a hotel in the complex, besides a 3-screen multiplex, a spa, and multi-cuisine food courts, while the Omaxe Novelty Mall would be spread over 125,000 square feet, it will house a 3-screen multiplex, food courts ATM's and multi-cuisine restaurants."

Delhi-based Advance India Projects Limited (AIPL) is coming up with Celebration Mall, a multiplex, with an initial investment of Rs 100 crore. Spread over an area of 2, 50,000 square feet, the mall will have a multiplex, a food court, leisure and entertainment areas, and is scheduled to be operational from March 2007.

Also, Alpha G: Corp is Coming up with Multiplex Complex on GT Road. Commenting upon the potential, Colonel , R. S. 'Pickles' Sodhi, MD, Alpha G:Corp stated "The easing of Indo-Pak relations has succeeded in bringing a boom for the real estate market in Amritsar. Developers are anticipating the borders opening and for the customer-base to increase which would include visitors from across the border up to Lahore. The large SEZ planned by the state through private-public partnership is also a large motivating factor. Anyhow, with the major metros becoming saturated with mall developments, a virgin market like Amritsar is the new attraction for developers.

As per the sources in Municipal Town Planner office, 3 multiplex each on Mall Road and Batala Road, 1 each on GT Road and Airport Road for which building plan has been submitted.

So far the approval of building plan of Omaxe Construction Ltd, which is coming up Omaxe Novelty Mall on Mall Road with local group called Novelty. While the other is Today Infrastructure's  " Maiden Mall" which is coming up on Batala Road has been approved.

The other Construction companies whose Multiplex building plans are under process are Tapasya Projects Private Limited, RSA Pro builders, Advance India Projects Limited, PHSC Realtors Private Limited etc.