Factors that Have Given a Boost to The Realty Market of Amritsar

Amritsar is one city in Punjab that has an abundance of opportunities for the people living and working here. Along with a flourishing tourism industry, the city also has ample number of small and large scale industries which help in boosting the overall trade and commerce here. And, the presence of various opportunities to earn a livelihood draws in a number of people to this city which in turn adds to the demand for properties here. Also, apart from this, there are many other factors that have boosted the real estate market of Amritsar, making investing in a property available for sale in Amritsar quite a popular choice among modern day investors. 

Here’s more on the factors boosting the real-estate market of Amritsar: 

• Increasing emphasis on heritage and spiritual tourism: Amritsar is being promoted as one of the prime heritage cities of India by the Government under the ‘HRIDAY’ (Heritage City Development and Augmentation Yojana) scheme. This has subsequently led to an increase in the demand of spaces for retail units, malls, hotels, restaurants and other recreational centers frequented by tourist. Moreover, many people working in the hospitality and tourism sector are migrating to the city for better career prospects, and this also results in an increase in the demand for property in the city.
• Excellent connectivity: Amritsar lies at an incredibly strategic location. It is a unique destination that provides excellent connectivity to prime cities of India. Amritsar is also extremely well-connected by both road and rail transport, and houses a major international airport as well. Additionally, the 31 km-long BRT corridor passing through the city is nearing completion, and this is expected to ease the traffic congestion levels and improve public transportation systems here too.
• Improving socio-economic infrastructure: Amritsar was the top-ranked city in Round #2 of Smart City Challenge. As per the aim of the smart City mission, the central government is expected to take definite steps to improve the infrastructure of this city, and advances are being made in that direction too. Along with the development of several public utility projects, top educational institutions, retail units, and hospitals are also being established here, making the city ideal for a residence.

Future of Real Estate in Amritsar   

 
Having relatively affordable property prices in comparison to other major parts of North India, as well as featuring a host of proposed infrastructural improvements, the city of Amritsar is expected to emerge as a hub of retail, commercial and residential activity in the coming years. 

Many realty experts are optimistic about the growth in the popularity of properties for sale in Amritsar. In addition to augmenting its economic growth, the flourishing realty market of Amritsar would additionally position it prominently among the fastest-growing tier-III cities of the country.   This city, popularly known as ‘The Land of the Golden Temple’ is making rapid advances towards improving its overall infrastructure and boosting all areas of trade and commerce.

Interested investors can always check out the website of any renowned real estate company operating in Amritsar to find a property that would be ideal to invest in, and guarantee good returns in the future too.