Thanks to fast improving infrastructure and connectivity amidst rising urbanization, Punjab is witnessing a major transformation in real estate. The evolving residential real estate in the wake of changing lifestyle aspirations, is seeing new avenues of growth, with plotted developments, gated communities and mixed-use integrated townships turning out to be major attractions for end-users and investors alike. In view of the promising opportunities, several prominent real estate players are raising their stakes in the state. Omaxe Group is one such leading player which is upping its ante in Punjab. 

In this exclusive interview, Mohit Goel, Managing Director, Omaxe Group, talks about Punjab’s real estate growth, its major drivers, emerging trends, potential investment destinations and future real estate growth prospects in the region. Excerpts.

Vinod Behl

What is driving real estate growth in Punjab and what are the emerging trends?

Punjab’s real estate momentum is being driven by a combination of infrastructure upgrades, rising urban aspirations, and improved connectivity across key cities. The demand is broad-based, spanning residential, commercial and hospitality (increasingly) segments. 

Today, we are seeing a clear shift towards integrated, lifestyle-driven developments with planned green spaces, retail zones and wellness elements. The emerging trend is affordable luxury, especially in cities like New Chandigarh where buyers are looking for value without compromising on quality and experience.

Which are the potential hotspots for investment and what kind of returns are expected?

New Chandigarh continues to stand out as the most promising area in the region-thanks to its strategic location, low-density planning and fast-paced infrastructure development. Other high potential destinations include Ludhiana; Patiala and the pockets of Amritsar where commercial and hospitality segments are picking up. 

Returns on investment depend upon asset type and location. We are however seeing a steady capital appreciation and attractive rental yields, particularly in plotted developments and commercial assets within integrated townships. 

How have developers like you been capitalizing on this opportunity?

We have had a strong presence in Punjab for over two decades. Our flagship integrated township in New Chandigarh has been a significant success, offering residential plots, villas and mid-rise apartments alongside commercial and retail components.

We have consistently delivered high quality projects that cater to evolving consumer preferences. Our focus has been on creating self-sustained communities with walkable infrastructure, green corridors and holistic lifestyle amenities. We are continuing to expand in the region with an eye on long-term value-creation.

How favourable have been the state government’s policies? Going forward, how do you view the real estate prospects in the region?

The Punjab government’s approach has been progressive and developer-friendly. It encourages planned development, faster execution and better alignment between private players and the public sector. As a developer, we welcome this transparency and long-term vision with progressive policies. If implemented well, such policies can unlock tremendous potential in peri-urban and emerging zones.

We are optimistic about Punjab’s growth trajectory and remain committed to contributing meaningfully to its real estate transformation.