Overview of Improvement Trust, Amritsar

History and Development

The Amritsar Improvement Trust was set up on April 2, 1949. The main goal was to develop and provide residential and commercial plots, flats, booths, and SCO's (Shop-Cum-Office) to Amritsar's people. Over time, the Trust acquired 3300 acres and developed 77 different residential and commercial schemes.

Types of Properties Available

• Residential Plots: Approximately 23,000 residential plots of various sizes have been allotted by the Trust: 100 sq. yds., 150 sq. yds., 200 sq. yds., and 250 sq. yds.
• Flats: The Trust built various kinds of flats:
  • EWS (Economically Weaker Section) Flats have 366 units.
  • LIG (Lower Income Group) Flats have 144 units.
  • MIG (Middle Income Group) Flats have 384 units.
  • HIG (Higher Income Group) Flats have 316 units.
• Commercial Units: The Trust has developed many commercial schemes including SCOs, booths, and multistoried complexes. Notable include Dharam Singh Market, Ghanta Ghar Market, and Mahan Singh Market.
• Institutional Sites: 125 institutional sites have been allotted across various schemes.

Amenities and Infrastructure

• Basic Amenities: Many schemes by the Trust have basic features such as roads, water supply, sewerage, parks, and street lights.
• Parks and Green Spaces: A pretty park is under development in the Dist. Shopping Center Scheme, and plans for more green areas are in place.
• Multistoried Parking: A multi-level parking with a capacity for 200 cars and 300 scooters is in completion at Lawrence Road.
• Road Connectivity: There are initiatives to improve road connectivity with a proposal for a 40-foot wide road from Ghee Mandi Chowk to Shree Harimandir Sahib.

Ongoing and Future Projects

• New Amritsar Scheme: This involves allot MIG flats, and new HIG and MIG flats are being constructed.
• Mall Mandi Scheme: On 211 acres, residential plots of different sizes are being offered through a lottery system.
• New Amritsar Expansion Scheme: Spanning 188 acres, this scheme aims to meet the significant demand for plots in Amritsar.
• Commercial Complexes: An architectural contest is invited for a multistoried commercial complex near Annam Cinema on Court Road.

Market and Pricing

• Property Prices: Property costs in Improvement Trust areas vary considerably. Residential plots start from ₹45 lac for a 1350 sqft plot. Flats and independent houses range from a few lakhs to several crores depending on their size and amenities.
• Rental Market: Rentals also exist, such as ₹20,000 per month for a 2 BHK flat.

Safety and Nearby Amenities

• Safety: The area is generally safe with well-developed infrastructure and community facilities.
• Nearby Amenities: Most areas within the Trust have easy access to major roads, hospitals, clinics, schools, and other essential services.

Auctions and Bidding

• The Amritsar Improvement Trust often holds auctions for commercial and residential properties, offering buyers competitive prices.

PropertyWala's Conclusion

The Improvement Trust, Amritsar, offers many real estate choices from residential plots, flats, commercial units, to institutional sites. The region enjoys well-developed infrastructure, basic amenities, and new projects enhancing residents' quality of life. For buying or renting, it’s a good investment due to strategic development plans and growing demand. However, it's wise to conduct thorough research and consider factors like prices, nearby facilities, and future plans.