The ambitious Emaar MGF project in Mohali, which was under a cloud for the last few months, has finally met the approval of the Punjab Government.
Last week, the foundation stone ceremony of the mega project was well
attended by senior members of the State Cabinet.
The incumbent government
is now showing an inclination for most of the real estate projects
in Punjab, and Parsvnath, Omaxe, AJS and others are likely to be extended
similar support, contrary to fears expressed by real estate experts.
The real estate market in Punjab had been on the defensive ever
since Prakash Singh Badal’s Government took over the reins of the administration.
Some decisions, like the cancellation of the no-objection certificates
of 32 residential projects in Punjab had raised doubts of investments
in the state, but latest initiatives by the government are reassuring
and encouraging.
