Indian Real Estate Ludhiana Epicentre Of North Indias Retail Revolution

Indian Real Estate Ludhiana Epicentre Of North Indias Retail Revolution

Source: Economic Times

Punjab Real Estate: All for​ the​ Mall

India Inc. looking beyond metros for​ growth is​ seeing the​ real numbers coming from a​ and​ B class towns, as​ the​ retail revolution churns out astounding figures. Till last year, Punjab had only two functional malls covering 2.7-lakh sq. ft. This year, nine projects will become operational, shooting the​ total mall space to​ 31.8-lakh sq. ft., a​ twelve fold increase from last year. Further, by year-end 2018, the​ increase is​ expected to​ increase four fold i.e. 152-lakh sq. ft. of​ mall space, while 2018 will see Punjab with over 40-malls.

And, the​ epicentre of​ the​ retail revolution is​ Ludhiana, with a​ retail potential of​ Rs. 5,940-crore by 2018 and​ Rs. 9,152-crore by 2015. This is​ evident from the​ who’s who of​ the​ developers list announcing retail plans for​ Punjab, such as​ Rahejas, ITC, Godrej, Piramals, DLF, Ansals, Aerens, RPG, THI, Omaxe, and​ that is​ to​ name just a​ few. Even hitherto, unknown companies like MBD have also announced their plans to​ foray into mall development.

It makes one wonder if​ the​ retail proliferation is​ going too far, and​ will there be enough land for​ everyone. And, if​ you have wondered what is​ happening to​ make the​ real estate prices in​ India continue to​ scale new heights, it​ is​ people with more money in​ their pocket than they know what to​ do with. Whether, it’s a​ new home, or​ a​ second home or​ a​ home for​ investments purposes or​ shopping till they dropped, bulging wallets continue to​ fuel the​ real estate boom both in​ the​ residential, commercial and​ retail sector.

Tier I or​ Tier II or​ Tier II or​ even the​ village next door, any bit of​ land you own, will sooner rather than later, turn out to​ be on the​ most wanted list. Take for​ example the​ rural area in​ and​ around Chandigarh, Mohali and​ Panchkula, it​ has villagers who have turned millionaires and​ billionaires overnight, after selling their farm lands to​ developers for​ the​ purpose of​ building residential townships, commercial ventures and​ retail malls, multiplexes, et al.

Wherever, you have land, even if​ it’s just an​ acre, you can be sure it​ will turn you into a​ crorepati many times over, sometime in​ the​ near future. in​ these days of​ India’s burgeoning economy, no land is​ worthless land. it​ is​ a​ potential goldmine waiting in​ the​ wings for​ its cue! One just has to​ have the​ patience to​ find out if​ that dustbowl will turn into a​ goldmine!

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