Omaxe to invest Rs 1,000 crore in developing a township in Amritsar
Realty developer Omaxe is investing Rs 1,000 crore in developing a
township in Amritsar
, Punjab.
Omaxe has acquired 260 acres of land for this township, and in the first phase, it is developing 127 acres.
Omaxe already has presence across six cities in the state like New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda.
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'The township is just 12 minutes from the Golden Temple and will soon include a hotel to further enhance its appeal. In the future, we also see the opportunity to expand this township through new land acquisitions,' said Mohit Goel, Managing Director,
Omaxe Ltd
.
The New Amritsar township benefits from a region undergoing rapid infrastructure transformation. The upcoming 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-KatraExpressway, which passes directly by New Amritsar, will significantly reduce travel times to Delhi and Jammu by 2026. In addition, the Amritsar Ring Road, a 98 km greenfield, four-lane highway encircling the city, is under construction and further enhances connectivity. Complementing these, the 4.5 km Elevated Road corridor links central Amritsar to the township, with planned extensions toward the university.
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The project has already secured
RERA registration
and necessary approvals. In the first phase, Omaxe is offering residential plots of 300, 500, and 1000 sq. yards. These will be part of a larger master plan that also includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure.
The project will be developed in phases, with the first phase expected to be completed in approximately four years. The initial investment is being funded through internal accruals. With strong market feedback and sanction received from financial institution, the project has achieved its financial closure. Based on future requirements, the company may consider additional funding routes to support further development.
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