Ludhiana Property Market

All the industries ate inter- dependent, because of which, it is very important that each and every sector of the country, grows in a parallel fashion. The progress and the expansion of various fields, not only helps the country become stronger, but it also helps in framing a strong image of the country in front of the whole world. Today, the market or the business is not limited to a country or a state, but the concept of globalization has taken the business to another level. Presently, the business is dealt in terms of global competition, because of which it is very important to have all the sectors and the elements of business strong. One of the most important pillars for the growth of India and through which the Indian market has been able to build a strong image in the global market is the real estate sector.
Real estate industry of India, has set great milestones is the world and made huge contributions to the growth of the country. The real estate sectors of each and every part of India, has grown massively and hence lead to the formation of a positive image in front of the whole world. One city, which has grown from the scratch and is known for the establishment of world class infrastructure, is Ludhiana. The city has grown very high, as compared to what it was years before, at the time of independence. Even being a small city of Punjab, it has welcomed the mall culture with open arms. A large variety of shopping malls, movie theaters, adventurous spots and food courts of international standard can be experienced in Ludhiana.
Due to all these developments, the property rates of Ludhiana have also gone high. The real estate market in Ludhiana is growing at a very fast pace and hence giving opportunity to a large number of builders to add profits to their belly. There are properties available in Ludhiana in almost every budget. The rate of the property depends on the area and the place on which it is build. The real estate market in Ludhiana has observed a rising trend, after the implementation of Urban Policy by the Punjab Govt. Places like Mall Road, Ghumar Mandi, Ferozepur Road, Sarabha Nagar, Link Road and the Feroze Gandhi Market have come out as the new zones for retail market and business. Also, the residential properties in Ludhiana have taken the shape of commercial markets, particularly those on the Pakhowal Road. As far as the rates for commercial land in Ludhiana is concerned, the range goes from Rs.30, 000 to Rs. 40,000 per sq. ft. The price of these spaces depends on the locality and the area in which these commercial properties are situated.
Individual houses and bungalows has always been the preference of the people of Ludhiana, as in case of the residential property. Therefore, the trend of multi- storied buildings and flats have still not come in Ludhiana and most of the areas of Punjab. Areas like Sarabha Nagar, BRS Nagar, Kitchlu Nagar, Club Road, Gurdev Nagar, and Civil Lines are few of the posh residential colonies in the Western part of Ludhiana. The Property rates of these areas vary from Rs. 10, 000 to Rs. 12,000 per sq. ft. These prices are for the plots available in these suburbs. These developments and the standards to which the city has risen are going to grow in the near future, with the establishment of more of malls and modern infrastructure.