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Amritsar realty experiences downfall

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Amritsar which was observing realty explosion is now in dilemma in its land rates owing to the Sikh Dera Sacha Sauda clash which came at the time when it was in the top of the traveler season and the tourists are cancelling their hotels which were booked following the disturbance in Punjab.
Enduring ‘Unrest’ in the state has bought sadness among the hoteliers and land consultants who are very worried and if the hardships carry on then the state’s development phase will end before it starts. Before, NRIs were showing big attentions in purchasing land in Amritsar, but now there is no enquiry from their ends about new realty contracts. Thus, they are even ready to sell their properties at discounted rates.
Heavy drop in Amritsar realty is noticeably clear with the whopping land rates experiencing large improvement a in the city. As said by the source at the www.propertykhazana.com Property at Ajnala Road which was not less than Rs. 20,000 per Sq.yrd is accessible for Rs. 17,000 at the present time. Similarly, other places in Amritsar are also observing the fall in property rates and 15 days back 1 acre was accessible for Rs. 35 Lakhs and now it is on auction for Rs. 30 Lakhs. But, the area nearness to the Golden Temple and Durgiana Temple have been the only exemption where the land rates appear to be steady and still there are no purchasers for the huge realty contracts in the city these days.

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Jan 07, 2014
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