Latest news with #MohitGoel
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
Lucknow Drives Tier-2 Realty Boom with 48% Sales Growth
India's Tier-2 cities are emerging as powerful growth hubs in real estate, driven by infrastructure upgrades, affordability, and evolving lifestyle demands. Defying a broader slowdown, Lucknow recorded a remarkable 48% jump in property sales value and a 25% increase in residential units sold, according to a PropEquity report. The city's transformation is underpinned by modern infrastructure, private sector responsiveness, and an expanding middle class seeking better urban living. Alongside Lucknow, Western cities like Ahmedabad, Surat, and Gandhinagar contributed to 79% of units sold and 74% of sales value. Other capitals—Jaipur, Bhubaneswar, Goa, and Bhopal—also showed healthy growth, jointly accounting for 30% of total revenue. Lucknow's real estate momentum is fueled by major infrastructure projects such as the Purvanchal Expressway, Outer Ring Road, and the expanding metro network. These efforts, combined with initiatives like AMRUT and Smart City Mission, are reshaping the city's urban fabric and improving its liveability. The city's realty value climbed to ₹1,797 crore with 1,301 units sold, the highest in Tier-2 cities. Developers are seizing this moment, investing in planned urban corridors and premium micro-markets like Gomti Nagar Extension, Shaheed Path, and Raebareli Road. These zones are seeing rapid price appreciation: Gomti Nagar Extension: 1.7× rise in 10 years, projected 1.9× by 2035 Shaheed Path: 2.4× rise in 10 years, projected 3.0× by 2035 Raebareli Road: 3.5× rise in 10 years, projected 3.4× by 2035 Real estate leaders including Mohit Goel (Omaxe Group), Yash Miglani (Migsun Group), and Neeraj Sharma (Escon Infra Realtors) agree that Lucknow is not just growing—it's setting the benchmark for Tier-2 urban development. Infrastructure, lifestyle appeal, and smart planning are transforming it into a long-term investment hotspot. As demand rises for quality housing and infrastructure keeps pace, Lucknow is redefining Tier-2 city potential, offering both end users and investors a future-ready, high-return market.
Time of India
5 days ago
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo '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. Live Events 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.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Omaxe expands footprint in Punjab, invests ₹1,000 crore in first phase of New Amritsar township
Omaxe Ltd, a listed real estate company, is expanding its footprint in Punjab with the launch of its new integrated township, New Amritsar, through its subsidiaries. Located 12 minutes from the Golden Temple, the company has acquired 260 acres for the project. In the first phase, it will develop 127 acres with an investment of over ₹1,000 crore, the company said in a regulatory filing on June 16. The project has received RERA registration and all necessary approvals and will be developed in phases. In the initial phase, Omaxe is offering residential plots of 300, 500, and 1,000 sq yards, with completion expected in about four years, the company said in a statement. The initial investment is being funded through internal accruals. The company said that with positive market response and sanctions from financial institutions, the project has achieved financial closure. Depending on future requirements, Omaxe may explore additional funding options to support further development. 'With this project, Omaxe is not just expanding geographically but also reinforcing its role in shaping the urban transformation of Punjab. New Amritsar is expected to emerge as a key destination for residents and investors looking for thoughtfully planned living spaces in the city," the statement said. These plots will be part of a larger master plan that also includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure. The township will include wide internal roads, landscaped greens, walking and cycling tracks, uninterrupted water and electricity supply, and 24x7 security, it said. Omaxe already has a presence across six cities in Punjab like New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. With this new project, the company is reaffirming its long-term commitment to the region's real estate development and urban infrastructure growth, the company said in a statement. 'New Amritsar represents a natural extension of our vision to create well-planned, modern urban communities that serve both current needs and future growth. 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. 'We have demonstrated our capabilities by developing a 1,000+ acre township that has become one of the most loved destinations for homebuyers and commercial buyers across the entire Tricity region. With New Amritsar, we are committed to building the same trust and delivering a self-sustained ecosystem that supports a better quality of life,' he said. The New Amritsar township benefits from a region undergoing rapid infrastructure transformation. The upcoming 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway, 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, the statement said. Additionally, the Sri Guru Ram Das Ji International Airport is undergoing Rs 300 crore expansion to double its capacity, boosting global accessibility, it added. Over the past 37 years, Omaxe has established a presence in 31 cities across 8 states in North and Central India and has delivered over 135 million sq ft of developed space. Also Read: Real estate developers acquire 2,335 acres for ₹40,000 crore in 2024; Tier 1 cities hold 72%, Tier 2 cities 28% share
