NEW DELHI: GBP Group, one of the top builders in Punjab, announced its township project Central Town in Zirakpur spread over 32 acres.
With a total outlay of Rs 600 crores, funded partially through internal accruals and partially through banks funding and sales, the township will have residential units, plots and commercial complexes.
The low rise project will have 700-800 residential units including 2 & 3 BHK S+3 independent floors and luxury villas, and 400 plots ranging from 100 to 213 sq. yards.
Built over an area of 11 acres the commercial complex will comprise of 250 showrooms, i.e. total 750 lower ground, ground and first floor units. It is the first time that GBP is coming up with plotting in the region; the total built-up area of the project would be around 15 lakh sq. ft. besides plotting. The group plans to give possession of plots within 6-9 months, residential units within 2-3 years, commercial units in 18-24 months.
Group proposes to develop the commercial complex as the hub of food joints, clubs, restaurants, bars, banks, wellness clinics, etc for catering to around 20,000 neighbourhood population and more than 3 lac population in 10 minutes of vicinity. The commercial complex is equipped with ample parking which has been missing from Zirakpur shopping experience since long.
Group is also upbeat about the size of the project, which is one of the attractions in the region where societies are in 4-8 acres because of the high land prices. Planned to have all the facilities, the township is planned meticulously keeping in mind the present and future needs of the people. Another added advantage of the project is that it is well connected in three ways – it is near the main highway, then 200 ft. wide international airport road connects it to Shimla and Haryana, thirdly it is connected to Panchkula.
Over the years, Zirakpur has been in the limelight owing to the affordable pricing it enjoys as compared to the neighbouring areas. With this township project, GBP Group plans to be the first mover in the region which is coming up with a project to meet all the needs of the growing population of the region.
“In the surrounding areas of Chandigarh, prices are three times as compared to prices in Zirakpur. The population growth of Zirakpur is 3.5% annually as compared to the nearby regions’ population growth of 2.5%. So there is a huge upcoming requirement of real estate in this area. Central Town is in the heart of the city with the most approachable location near National Ambala Highway and in between Peer Muchalla, Sector 20, Panchkula,” says Raman Gupta, Director – Branding & Construction, GBP Group.
Talking about the real estate market in the country, Gupta says, “Real estate market was going through a tough phase in the last three years but 2021 is going to be wonderful. Demand and supply have already been settled in all these years, and looking at the limited supply even the stuck projects will do well as banks are coming up with funding schemes such as SWAMIH fund, and stress funds.”