Located 12 minutes from the Golden Temple, the company has acquired 260 acres for the project. In the first phase, it will develop 127 acres with an investment of over Rs1,000 crore, the company said in a regulatory filing.
The project has received RERA registration and all necessary approvals and will be developed in phases. In the initial phase, Omaxe is offering residential plots of 300, 500, and 1,000 sq yards, with completion expected in about four years, the company said in a statement.
The initial investment is being funded through internal accruals. The company said that with positive market response and sanctions from financial institutions, the project has achieved financial closure. Depending on future requirements, Omaxe may explore additional funding options to support further development.
These plots will be part of a larger master plan that also includes commercial spaces, a school, an exclusive clubhouse, and community infrastructure. The township will include wide internal roads, landscaped greens, walking and cycling tracks, uninterrupted water and electricity supply, and 24x7 security, it said.
Omaxe already has a presence across six cities in Punjab like New Chandigarh, Ludhiana, Patiala, Derabassi, Amritsar, and Bathinda. With this new project, the company is reaffirming its long-term commitment to the region’s real estate development and urban infrastructure growth, the company said in a statement.
“New Amritsar represents a natural extension of our vision to create well-planned, modern urban communities that serve both current needs and future growth. The township is just 12 minutes from the Golden Temple and will soon include a hotel to further enhance its appeal. In the future, we also see the opportunity to expand this township through new land acquisitions. We have demonstrated our capabilities by developing a 1,000+ acre township that has become one of the most loved destinations for homebuyers and commercial buyers across the entire Tricity region. With New Amritsar, we are committed to building the same trust and delivering a self-sustained ecosystem that supports a better quality of life,” said Mohit Goel, managing director, Omaxe Ltd.
The New Amritsar township benefits from the upcoming 99?km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway, which passes directly by New Amritsar, will significantly reduce travel times to Delhi and Jammu by 2026. In addition, the Amritsar Ring Road, a 98?km greenfield, four-lane highway encircling the city, is under construction and further enhances connectivity. Complementing these, the 4.5?km Elevated Road corridor links central Amritsar to the township, with planned extensions toward the university, the statement said. Additionally, the Sri Guru Ram Das?Ji International Airport is undergoing Rs?300?crore expansion to double its capacity, boosting global accessibility, it added.
