The holy city of Amritsar is no more just a religious destination. After the Punjab government started developing it as a tourist destination, real estate developers saw the opportunity and jumped in. Even though the city is just 25 km from the Indo-Pak border, Amritsar has drawn more than a dozen real estate developers who are now considering both residential and commercial developments.
In the last one year, the city has seen the worlds largest retailers Wal-Mart enter in association with the Bharti Group. One of the most sought after spas in the country Ananda chose Amritsar to open its only branch at five-star luxury hotel Ista, which is owned and managed by hospitality chain Indian Hotel and Health Resorts.
Amritsar is one of the top three cities in Punjab where investors would like to take their projects, especially those in real estate. But recession has been a spoilsport for more than a year forcing developers to go slow and stalling any resale.
More : economictimes.indiatimes.com
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