A key spiritual and cultural center of India, Amritsar is one of the most prominent cities belonging to the affluent state of Punjab. This city features a robust network of roads, highways and railways, and boasts of an exceptional socio-economic infrastructure as well. Owing to its excellent connectivity, flourishing industry, and presence of modern facilities in the city, Amritsar is often considered as an ideal place to set up a residence in by many.
Over the last few years, there has been a consistent increase in the demand for villas and flats for sale in Amritsar in order to accommodate the rapidly increasing population of the city comfortably. Moreover, the real-estate domain of Amritsar is also growing at a healthy rate and is boosted by investments, both from within the country and abroad. There are many factors that make investing in property for sale in Amritsar quite a prudent move some of them have been discussed below:
The city of Amritsar is now being promoted by the government as one of the heritage cities of the nation. And, this focus on its rich culture and heritage has given a great boost to the industry of spiritual tourism here. This has also led to the creation of a large number of jobs in Amritsar, providing employment to many people. Moreover, the city infrastructure of Amritsar is also being developed and boosted at a rapid rate and as such, the public conveniences here are also quite well-maintained. Owing to these developments many people today prefer to settle down in Amritsar for good, which also results in an increased demand for property in the city.
Amritsar is also witnessing a radical expansion to meet up with the demands of its growing population. While the development of a Ring Road here is in the process, existing roads across the city are being widened too. The Amritsar airport has also undergone extensive modernization and has been expanded recently. The plan for a High-Speed Rail Corridor passing through Amritsar has also been approved by the government and is expected to improve the connectivity of the city to a great extent. As per certain reports, this corridor would enable people to travel to Delhi from Amritsar by train in just 2 hours.
An economic corridor connecting Amritsar, Delhi, and Kolkata has also been approved by the government. This project is aimed at developing a specialized Industrial Zone spanning across seven states of the country, thereby providing a definite push for industrialization and job-creation in the region. This corridor would essentially act as a catalyst for economic growth, and provide an impetus to the manufacturing and processing sectors of Punjab, as well as other states. After the development of this corridor, large numbers of investments are also expected to flow into Amritsar, thereby raising the average standard of living in the city. The development of Special Economic Zones, industrial estates and IT parks in the city of Amritsar would also augment the employment opportunities available here to a great extent, and this is also expected to draw in migrants from many parts of the country. These developments will in turn increase the demand for properties as people coming here to settle down for good will need residential property to live in.
These are few of the factors that make investing in a villa or a flat for sale in Amritsar a profitable venture. By purchasing property in this flourishing city, investors can enjoy excellent rental returns from it and even excellent capital gains if they ever plan to sell it off in future. To invest in property for sale in Amritsar, interested investors can easily explore the websites of some of the most reputed real estate developers operating in the city.
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Manish Shrama Joined: October 23rd, 2018 Articles Posted: 40
