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TDI Infratech plans to invest Rs 600 cr in Punjab in next 2-3 years

2022-05-31

TDI Infratech has decided to spend Rs 600 crore in Punjab as part of its development ambitions over the next two to three years.

It has set aside Rs 150 crore for the Parkstreet on the PR-7 project, which would be located in Sector 118 of TDI City, Mohali, close to the International Airport Road.

Parkstreet will be a high-street concept with pre-lease showrooms, food court, cinema, rooftop bar, and all other world-class facilities that appeal to the region's young, aspiring consumers, covering approximately 1.3 lakh sq ft.

TDI's commercial project South Ex-II, which would include built-up SCOs and SCO plots, will receive another Rs 200 crore. One anchor shop would be included in the project, as well as a huge hotel site.

South Ex-II occupies an area of nearly lakh sq ft and is located in Sector 117 of TDI Smart City, Airport Road, Mohali. In April 2023, this project will also be ready for occupancy.

Both forthcoming projects are RERA-registered and have all other required regulatory approvals.

Aside from that, TDI Infratech has finalised plans to spend Rs 250 crore on three distinct Punjab projects.

The three developments, totalling 8.37 acres, are proposed for the PR- 7 International Airport Road Sector 118 TDI Smart City. Another 5.02-acre project is planned for Madhya Marg in Sector 118 TDI Smart City, with a 1.92-acre project planned for PR-6 in Sector 117 TDI Smart City.

Akshay Taneja, Managing Director of TDI Infratech, told the media that the region's post-pandemic surge in real estate growth inspired them to line up Rs 600 crore in investment over the next two to three years.

He informed that there have also been rumours of NRI investments returning to the industry, which they believe we will be able to tap from in their world-class projects.

Taneja revealed that with the election of a new government in the state, they are optimistic that the business environment will improve even further.

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