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Amritsar,
famously known for the Golden Temple, is more than a 'holy city' nowadays.
As the Indian real estate expands in all sectors including residential,
industrial and commercial, the investors are gradually showing interest for
investments into smaller Tier III cities like Amritsar. This shift is
primarily due to comparatively cheaper property prices and better
infrastructural facilities. A city famous for its dhaba culture has now
awakened to a new age of liberalized economy.The real estate experts are overwhelmed at the growing interest by investors in Amritsar that has not only promoted its economic growth, but also has made a niche for itself amongst the fastest growing cities in India.
The initiative of the government of Punjab in promoting investments has gained positive response with large-scale investments in the realty sector because of the realty prospects and returns it is bringing. The most prominent among them is the Emaar-MGF joint venture between the Emaar group of Dubai and the MGF group of Delhi, the largest FDI in Indian real estate.
The
residents of Amritsar have started to tune themselves to the mall culture.
The largely disposable income provided by excellent job opportunities in the
service and realty sectors has changed the lifestyle of the people of the
city in the recent past.