Centre Approves ₹1,367-Crore Industrial Project in Rajpura, Promising Major Economic Boost for Punjab

By Jyotika Thakur Last updated Aug 29, 2024

Chandigarh, August 29, 2024 – In a significant move to revitalize Punjab’s economy, the central government has approved a ₹1,367-crore industrial project in Rajpura, Patiala. The project, which falls under the National Industrial Corridor Development Programme, is expected to be a gamechanger for the state, potentially generating over 64,000 jobs. The project involves an investment potential of ₹7,500 crore and covers an area of 1,099 acres.

Focus on Key Sectors The project will prioritize several high-potential sectors, including electronics system design, food and beverages, fabricated metal and chemicals, textiles, and machinery. This strategic focus aims to attract investors and strengthen Punjab’s industrial base, particularly in the Rajpura region. This development is poised to position Punjab as a leading industrial hub, not only in North India but across the nation.

Government and Industry Response Punjab Chief Minister Bhagwant Mann expressed optimism, stating, “This project will significantly enhance the state’s industrial capabilities and provide much-needed employment opportunities to our youth. We are committed to ensuring its timely completion.”

Supporting this initiative, Mr. Rupinder Singh of Saheb Buildtech, a premier real estate advisory firm based in Mohali, remarked, “This project is a testament to the state’s growing industrial potential. It will not only boost the local economy but also open new avenues for real estate development. We are proud to be a part of this transformative journey.”

E-Auction of Properties by PUDA In related news, the Punjab Urban Development Authority (PUDA) announced an e-auction of residential, commercial, chunk, and institutional sites across the state. Properties worth ₹2,000 crore are up for grabs, offering an excellent opportunity for investors. The auction, set to begin on September 6, 2024, will provide an easy payment plan, with only 10% required upfront and possession available on 25% payment.

Chief Minister Mann emphasized the fairness and transparency of the auction process, aimed at enabling more people to realize their dream of property ownership. The auction covers key cities including Amritsar, Bathinda, Ludhiana, and SAS Nagar, providing diverse options for prospective buyers.

Conclusion These developments mark a significant milestone for Punjab’s economic landscape, with the Rajpura industrial project and PUDA’s property e-auction set to drive growth and investment across the state. The collaboration between government initiatives and private sector support, such as from Saheb Buildtech, underscores the shared commitment to Punjab’s future prosperity.

rajpura real estate