Released on: September 4, 2008, 2:14 pm

Press Release Author: Kiran Singh

Industry: Real Estate

Press Release Summary: While planning my trip to Ludhiana, a friend told me one can
spot more Mercedes on the city’s streets than in the nationalcapital. But that
definitely does not mean Delhi falls short in the number of luxury cars owned by its
burgeoning uber-rich.

Press Release Body: While planning my trip to Ludhiana, a friend told me one can
spot more Mercedes on the city’s streets than in the nationalcapital. But that
definitely does not mean Delhi falls short in the number of luxury cars owned by its
burgeoning uber-rich. Apart from the two cities’ fondness for 4-wheeled status
symbols, Ludhiana and Delhi have a similar tippling rate — the cities produce and
consume comparable amounts of liquor. Besides this, the two are a witness to the
burgeoning presence of residential real estate. About seven to eight developers have
already started their group housing societies and townships. At a time when there is
an overall slowdown, Ludhiana is a safe place to invest in property — rates are
still lower and housing is affordable; projects that are taking shape are expected
to give better appreciation in the near future; deep-pocketed investors can place
bulk bookings.

Three major developers — Ansal API, Akme Group and the Ashok Malhotra Group of
Companies — are coming up with their residential projects on the Ludhiana-Chandigarh
Road.

Though Ansal API has not yet launched its project, the company has showcased its
sample flat on their site. Ashok Malhotra Group of Companies’ Palm City is already
has plots on sale. Akme’s Platinum has started selling flats and excavation work has
begun on ground.

Apart from this, there are certain extensions of the city which are witnessing rapid
development. Ferozpur Road is fast becoming a hub for commercial development.
Delhi-based Aeren R Enterprises and Vipul Limited are coming with their projects on
this stretch. While Aeren R has already started renting out space in its Festival
Mall, Vipul is still in the preparatory stages of the launch of its project which is
spread over 109 acres. The main gate of the project can be seen from Ferozpur Road.
The average rate of a high-end space in Ludhiana is between Rs 100 and Rs 135 per sq
ft.

Brijesh Bhanote, vice president-sales and marketing, Vipul Limited says, “Maximum
development is happening on this stretch, as the area has enough land and rates are
lower. We will start with the sale of plots soon.” The company plans to launch its
project in September this year.

Pakhowal Road is another up-market location. Driving down this stretch, one would
only find independent kothis on freehold plots. On this road, Omaxe’s Royal
Residency is a project which has good appreciation potential. The project is already
selling at Rs 3,000 per sq ft. Royal Residency is located approximately 7 km from
Ghumar Mandi, which is the centre of the city.

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