Omaxe to invest ₹1,000 crore in integrated township near Golden Temple

Omaxe acquires 260 acres on GT Road to build a modern township with residential plots, commercial spaces, and infrastructure in Amritsar

Real estate firm Omaxe Ltd announced that it will invest over ₹1,000 crore in developing a new integrated township in Amritsar, Punjab. The project, dubbed New Amritsar Township, will be developed through the company’s subsidiaries, Omaxe said in an exchange filing on Monday.

 

The realty firm has acquired 260 acres of land on the GT Road, around 12 minutes from the Golden Temple. In the first phase, 127 acres will be developed with a focus on creating a modern, self-sufficient urban ecosystem.

 

Omaxe said the project has already secured Rera registration and necessary approvals. The first phase will offer residential plots of 300, 500, and 1000 sq. yards. The broader master plan includes commercial spaces, a school, a clubhouse, and supporting infrastructure such as wide internal roads, landscaped greens, cycling and walking tracks, 24x7 security, and uninterrupted utility services.

 

 

The township is expected to benefit from multiple infrastructure projects in the region. These include the 99 km Nakodar-Amritsar branch of the Delhi-Amritsar-Katra Expressway, the 98 km Amritsar Ring Road, a 4.5 km elevated corridor connecting central Amritsar, and an ongoing ₹300-crore expansion of the Sri Guru Ram Das Ji International Airport.

 

“The project is designed to support a balanced and scalable lifestyle while serving both current needs and future growth,” the company said in its release. Development will be phased, with the first phase targeted for completion in about four years. Omaxe said the initial funding is being met through internal accruals, and the project has already achieved financial closure.

 

With this launch, Omaxe aims to replicate its success from the Tricity region, where it previously developed an over 1,000 acre township. The company currently operates in 31 cities across eight states, with a portfolio spanning luxury and affordable segments.

 

Following the announcement, Omaxe shares soared on the BSE, where the stock jumped as much as 14.26 per cent to an intraday high of ₹107.98. Around 2:30 pm, the shares were still trading 9.05 per cent higher at ₹103.05.