TDI Infratech will be investing Rs 600-crore in expansion plans for Punjab in the next two to three years, the company said in a statement.
It has lined up Rs 150 crore for project Parkstreet on PR-7, which will come at Sector 118 in TDI City, Mohali, near the International Airport Road.
To be developed in an area of approximately 1.3 lakh sq ft, Parkstreet will be a high-street concept with pre-lease showrooms, food court, multiplex, rooftop bar and all other world-class amenities that appeal to the young, aspirational buyers in the region, the company said.
The project is expected to be ready for possession by April next year.
Another Rs 200 crore will be invested in TDI’s commercial project South Ex-II, which will have built-up shop-cum-offices (SCO) and SCO plots. The project will include one anchor store and there will be a large site slotted for a hotel.
South Ex-II is located at Sector 117 in TDI Smart City, Airport Road, Mohali, and spread across an area of about 1 lakh sq ft. This project will also be ready for possession in April 2023.
Both upcoming projects are registered with RERA and have regulatory clearances.
TDI Infratech has also firmed up plans to invest approximately Rs 250 crore in three different projects in Punjab, a formal announcement about which will be made soon.
The three projects that are planned include an 8.37-acre project at PR- 7 International Airport road in Sector 118, TDI Smart City. Another 5.02-acre project is on Madhya Marg Sector 118, TDI Smart City, followed by a 1.92-acre project on PR-6 Sector 117 TDI Smart City.“The post-pandemic spurt in the growth of the real estate sector in the region has encouraged us to line up a whopping Rs 600 crore worth of investment in the next two to three years. There are also reports about NRI investments returning to the sector and we are confident of tapping these in our world-class projects. Besides, we are quite hopeful of the business environment improving further with the advent of a new government in the state,” said Akshay Taneja, Managing Director, TDI Infratech.