Intl airport pulls Delhi realtors to Punjab

So long, Delhi-based developers and local builders and their sister concerns were developing housing projects on the Amritsar-Jalandhar highway (National Highway I); now work has shifted to the road leading from Amritsar to Rajasansi International Airport.

The 7-km stretch, Amritsar-Rajasansi Road, is attracting developers for about six housing projects that are coming up on this road. Also, the airport road will have a hotel and a multiplex.

This development has also led to a spurt in land prices in areas on the Rajasansi Airport road; it is Rs 1-1.5 crore per acre, depending on the location.

On this road local builder, Heritage group, is coming up with two housing projects, namely Heritage City and Heritage Kunj, spread over 16 acres and 10 acres, respectively.

Also, the group has tied up with Omaxe to build up a multiplex, which will be spread over 4, 00,000 square feet and will boast of a hotel, within the complex, a 3 star multiplex, and apart from shops and showrooms, it will also boast of multicuisine food courts.

Another local builder, DR Builders & Colonisers is also coming up a housing project. Similarly, another local builder is coming up with housing project called " Palm grove." Another local group is coming up with Golden City, a housing project which would be spread over 9 acres of land. 

Commenting upon the reason behind these developments, one of the developers," With these developments, the holy city would be on threshold of international living, it is the high disposable income of Punjabi's that has attracted half a dozen of developers. Moreover, the announcement by Prime Minister for putting up SEZ and anticipation that in near future the trade would flourish with Pakistan has attracted the developers." 

Moreover, a new company called D D Towers Private Ltd, a sister concern of DD Synthetics Private Limited, a manufacturer of home furnishing is planning to enter into hotel business.

The company is coming up with a 140-room hotel, besides service apartments for aircraft crew at Airport Road, Amritsar. For this, it has submitted the plan to the Airports Authority of India to seek a no-objection certificate.