Ludhiana, the industrial town of Punjab is gradually reinventing itself from being the industrial capital of small-scale industries to an emerging city with hi-tech growth prospects, followed subsequently by real estate boom. With the growing industrial sectors, there has been a dearth of residential spaces in the city due to the migration of workforce from other cities. And if Ludhiana is taken into account it presents the growing spirits of being among the fastest growing cities in India.
Economy
Ludhiana is known as the "Manchester of India" because it is the industrial hub of Punjab. There are 8 large integrated knitwear factories, roughly 6,000 small to medium sized knitwear factories, 10 big hosiery yarn mills and 150 small- to medium-sized worsted and woolen yarns. There are also firms manufacturing bicycles (Avon Bicycles, Hero Cycles Ltd, Eastman Industries Ltd), motorcycle parts, machine tools, sewing machines, generators, diesel engines, tires & tubes, and other consumer goods. The export market in Ludhiana is worth $40 million USD.
Ludhiana is becoming a hub of auto parts manufacturing, with Vira Industries and D.S Auto Industries being two examples.
Ludhiana City is also famous for cast iron industries & for other foundry materials.
Ludhiana is home to branches of various international franchises such as Nike, KFC, McDonald's, Pizza Hut, Domino's Pizza, and Subway. Also, Ludhiana is notable for its numerous markets such as the Chaura Bazaar, Mall Road, Ghumar Mandi, Model Town Market, Kochhar Market, Sarabha Nagar Market and Ansal Plaza. Gaydi route connects Mall Road to Ghumar mandi, and is very famous for hawker food. Feroze Gandhi market is a big financial area, and has bank branches of the major international banks.
A new world-class 25-acre commercial center is under construction in the heart of Ludhiana. This will provide space for shopping, entertainment, business, hospitality amongst other amenities. About a dozen new shopping malls cum entertainment centers are under construction including MBD Mall Plaza and a Reliance venture on Ferozepur Road. With Ludhiana construction occurring all over, a modern financial centre is under plans, this means a city full of skyscrapers is also something the city will see in the near future. Another big project is penthouses in Ludhiana, construction has already started for these buildings.
Real Estate Development
Ludhiana, the industrial town of Punjab is gradually reinventing itself from being the industrial capital of small-scale industries to an emerging city with hi-tech growth prospects, followed subsequently by real estate boom.
Ludhiana has been a predominant player in the industrial map of India for its bicycle & bicycle components industries, woolen garments, hosiery goods, sewing machine and parts & machine tools. However, the city has evolved with times as the administration takes initiatives to attract investments from the technology sector like the IT, ITES and the BPO sector. Genpact is one of the many companies making serious expansion plans in Ludhiana. And as investments start pouring in, there has been a marked demand for residential and commercial properties in Ludhiana propelling a boom in the realty sector.
Ludhiana that thrived on the small-scale sector has of late in the last 4-5 years evolved following a congenial business environment and a significantly secure law and order situation. This is also one of the determining factors for more and more companies offering to invest in the city. Besides that, Ludhiana also boasts as a premier centre for education, thereby getting a niche over other cities in the procurement of skilled workforce required for the industries setting up bases there. Moreover, its easy connectivity to the national capital Delhi as well as Rajasansi international airport, Amritsar has proved to be an advantage for business prospects in Ludhiana.
The recent real estate development in Ludhiana is a substantial reference to the boom experienced by the industry in the wake of pouring investments into the city. With the growing industrial sectors, there has been a dearth of residential spaces in the city due to the migration of workforce from other cities. Moreover, this has paved the way for development of mall space as a basic need to cater to the disposable incomes generated - at the handsomely paid corporate sectors. Top developers like JMD Promoters Ltd have planned a shopping mall 'JMD Govardhan City Centre' in the city with a capital outlay of Rs.100 crores and many more are in the offing.
In the face of the changing realty scenario in Ludhiana, there has been a great interest shown by the major developers from within and outside Punjab. A few prominent names among those are the JMD promoters, Silver City Group of Companies, Ansals, Gulmohar, DLF, Parsvnath Developers and Omaxe Construction Ltd. However, the most significant among those is the real estate joint venture between Emaar properties of Dubai and MGF developers of Delhi. Considered as the biggest FDI in Indian real estate investments, Emaar-MGF joint venture is sanctioned to develop a golf view township in Ludhiana. There are also proposals of multi-use industrial parks to be developed in Ludhiana including an Integral textile park. However, the most promising growth prospect for the city would be the approval for the proposed SEZ in the 'Jalandhar-Ludhiana-Hoshiarpur' region.
As industry and real estate sector expands beyond the metros to the Tier II and III cities, owing to congestion or inexpensive realty, it has been the boom time for the smaller cities to make a mark; and this is evident from the rapid escalation of property prices there. And if Ludhiana is taken into account it presents the growing spirits of being among the fastest growing cities in India.
Builders / Apartments
- Wellington Estates - Reputed Builders - Good speed.
- Emgreen Residency
- Opera Gardens
- Defence Enclave
- Orbit
- New Generation Apartments
- Skynet Builders
- Axiom Estates
- AB Apartments
- Regalia Towers
- Silver City
- Opera Towers - Opera CCPL Group.
