Punjab boasts of the best infrastructure in India. The state government, along with private participants have continuously made investments that have improved connectivity, communication networks, and have helped develop the infrastructure in the state. The state has also made large investments in improving road connectivity and has one of the highest road densities in India. All this has led to an influx of investment in Punjab. With better job opportunities and steady incomes, the demand for residential property for sale in Amritsar, Ludhiana, and other cities is increasing. Here are a few reasons why you should consider investing in Punjab’s real estate, both residential and commercial if you are still confused about it:
1.Attractive Incentives for Industrial Promotion
The Government of Punjab has introduced various incentives to promote the setting up of new units in the state. This includes attractive benefits and rebates on property tax and electricity duty, among others. There are also exemptions from regulatory checks for a certain class of industries. All this will help in the industrialization, leading to job creation, which will, in turn, increase the demand for residential property in cities like Amritsar and Ludhiana.
2.Easy Place to Do Business
The state government has taken several steps to ensure that the efficiency of various processes and to remove hassles faced by the investors. The Punjab Government has set up the Punjab Bureau of Investment Promotion (PBIP). The office acts as a single point of contact for those looking to invest in the state. The bureau facilitates all the required regulatory approvals that are needed by investors. The office also offers the services of a relationship officer to the investors, acts as the single point of contact.
3.Superior Quality of Life and a Great Place to Live In
The state of Punjab has the best educational, health, and recreational infrastructure in the country. The quality of life in some of the cities of the state is comparable to that of leading global cities. The state government has taken further steps to provide quality services and infrastructure to the citizens with a time-bound and cost-effective process. The rise in demand for residential property of sale in Amritsar, Ludhiana, and other cities of Punjab speaks for it, as more and more people are settling in the state.
Real estate in Punjab offers a cost advantage as compared to cities like Chennai, Delhi NCR, Mumbai, and Pune. These cities are experiencing higher costs due to high wage inflation and high operation costs. The same problem is not faced by real estate developers in Punjab, and residential properties for sale in Amritsar and other cities remain affordable.
5.Attractive Market and Gateway to New Avenues
Punjab has a higher per capita income than the rest of India. The state has a huge market and lies in close proximity to other large markets, making it attractive for all. The opening of trade with Pakistan could be beneficial in the coming years as well.
6.Well Established Ecosystem for Commercial Ventures
Punjab provides an ecosystem that helps industries like Agro and Food Processing, Textiles and Light Engineering, grow. The state is a leading producer of many foods and cash crops like cotton, barley, wheat, yarn, sugarcane, etc. The goods provide raw materials to many food processing factories present in the state.
With rising investments levels, the demand for real estate in Punjab is going to increase manifold in the coming years. This makes it an opportune to time to invest in the state’s real estate, especially in the residential properties available for sale in Amritsar, Chandigarh, Ludhiana, and other cities, as demand for residential properties is expected to rise in the coming years.