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.