Ludhiana

Ludhiana is one of most popular and developed cities in the state of Punjab. It is also one of the major industrial centers in the northern region of the country. Famous for being the major manufacturing region for hosiery and sports goods, this city has got a face lift in the last few years.

Jawahar Lal Nehru Urban Renewal Mission
It is one of the 63 selected cities in India under the Jawahar Lal Nehru Urban Renewal Mission initiative, and will undergo a complete transformation in the coming years. The initiative has been taken by the Government of India for promoting urban reforms and investments. This period will see an expansion of opportunities and increase in performance by the public administration. Development of inter city roads, bridges and other infrastructural facilities will take place to fasten the urbanization process.

Good connectivity with various cities in the country, along with growing industrial opportunities has made it a favorable realty investment destination. The city has witnessed a considerable real estate development in the last few years. According to a survey undertaken by CII, it has been ranked amongst the 10 top cities of India for providing best road network in the city.

Real Estate Scenario
Commercial Real Estate: As being experienced in the entire country, with rising population, disposable incomes, and consumerism, most people in the city are moving towards retail sector. The city has seen number of shopping malls, in the major areas like Mall road, Ferozepur road etc. Chaura Bazaar, Sarafan Bazaar, Lakkar Bazaar, Purana Bazaar and Book Bazaar, are item specific markets and constitute the major commercial activities in the city.

An interesting use of the real estate property can be seen in the commercial Feroze Gandhi Market. The market comprises of properties having mixed-use, with retail showrooms on the ground floor and office space on the floors above.

Residential properties in the centre of the city have been converted into commercial properties. Residential properties in areas such as Pakhowal road have been converted into retail and office space. It is also host to the famous "City Centre" retail -cum- office realty project, being touted as the biggest realty project in Asian continent. The project is being made on 4 million sq.ft. of land space.

There are a number of upcoming commercial projects on Chandigarh Road being led by the companies from the banking, telecommunications sector. With the proposed development and construction of international airport at Halwara, the real estate prices are expected to rise further in the future.

Residential Real Estate: The residential property prices have escalated in the last few years owing to rapid urbanization, rising incomes and infrastructural advancement. With growing population, the demand for houses has been on the rise. Some of the major residential colonies in the city are: Sarabha Nagar, B.R.S Nagar, Gurdev Nagar, Kichlu Nagar, Agar Nagar, Club Road etc. Sarabha Nagar has the highest realty prices with an active retail market in the middle of the area. An NRI township named 'Apna Punjab' is being developed in the South City area, which has already attracted investments from different investors and NRIs.

Industrial Real Estate: The city is home to large number of large, medium and small scale manufacturers across industries. It is known for hosiery goods and woolen garments amongst others. The major industrial areas in the city are Focal Point, Sunder nagar, Gill road, Humbran industrial complex,etc.

Key Industries
Listed below are the few industries concentrated in the city:

• Bicycle & Bicycle Components
• Hosiery Goods
• Sewing Machine and parts
• Machine Tools
• Sports Goods

Real Estate Developments
The city is witnessing construction of nearly 10-15 malls in different areas like GT road and Ferozepur road, with multiplexes and various retail showrooms. Prominent realty developers like Omaxe are undertaking big commercial projects like Festival City and Wedding souk.

Development of areas like Sarabha Nagar Extension, Rajguru Nagar, Dugri will rise the real estate prices in the city.