Realtors discuss vertical development, call for gated societies

Eminent industry leaders shared their thoughts on evolution in the realty sector, housing trends and changing technology at The Tribune Real Estate Conclave 2025 held at Hotel Hyatt Regency here today.

After inaugurating the conclave, Punjab Housing and Urban Development, Revenue, Rehabilitation and Disaster Management, Water Supply and Sanitation Minister Hardeep Singh Mundian said the state government had simplified various procedures to promote the real estate sector in the state. He further added that an 11-member committee had been constituted to frame a policy.

“If a developer or a builder was facing any problem, he or she should submit suggestions to the committee,” he added.

Speaking on the occasion, Vikas Garg, principal secretary, Department of Housing and Urban Development, Punjab, said there was a big demand for expansion and include more areas in Mohali Master Plan which was framed in 2007.

“To realise the full potential of urban land, the government had allowed mixed land use in various parts of the state. We have recently allowed bifurcation of industrial plots to achieve the real value of the land and stilt plus four in new developed areas for efficient management of land,” he said.

Planned development was being carried out Mohali to check unauthorised development, he said, adding that reforms in the realty sector would change the landscape of Mohali.

During the conclave, two sessions of panel discussions were held with leaders of the realty sector that were moderated by Prabhnoor Singh, Managing partner, JP Singh and Co. The panelists included Nakul Arora of Hampton Homes, Amarjeet Singh (EVOQ), Harmil Thakur (Ambika Realcon Pvt Ltd), Sunil Bakshi (SBP Group), Abhishek (SLPB Skytouch Peermuchalla), Vishwash Chadha (Atlantis), Ashish Arora (Hermitage Group), Sanjeev Thakur (Majestic Rise) and Nitin Bhattacharya of RISEONIC. They were felicitated after the event.

The industry leaders deliberated on the latest technologies being used to speed up constructions, vertical developments, and demand for gated societies after the Covid-19 pandemic. Hampton Homes is the title sponsor of the conclave, while AlBasir Group of Industries is the gifting partner and IJM Star is the drive partner.

Aimed for policy clarity through direct interactions with the government, the conclave served as a platform for developers and industry stakeholders to exchange insights on emerging trends, challenges and opportunities shaping Tricity’s real estate landscape. The event encouraged collaboration, knowledge sharing and provided a platform for growth, transparency and collaboration.

Developers speak

Today, connectivity matters the most for any real estate project. With a passage of time, technology has also changed. The construction work has sped up and builders can now deliver project timely.

Nakul Arora, general manager, Hampton Homes

After the Covic-19 pandemic, people now prefer gated societies to roam freely. Instead of independent houses, people prefer big apartments, as they get all amenities and get to experience community living. Amarjeet Singh, EVOQ

New housing projects have concept of open spaces, rainwater harvesting, power from solar panels and scope for sunlight and natural ventilation to cut power cost. New projects also have wider balconies. Harmil Thakur, Ambika Realcon Pvt Ltd

With scarcity of land and high cost of independent houses, people have shifted to community-based living. As most of buyers are from the salaried class, they get affordable accommodation in high-rise buildings with all amenities. Sunil Bakshi, SBP Group

As the concept of work-from-home gained momentum, customers now look for best interiors and exteriors in a housing project. They want more open space and safety and security. Abhishek, SLPB Skytouch Peermuchalla

Before purchasing a flat, the customer must carry out fact-checks. He or she should check the background of the developer and timely delivery of previous projects and quality of the material used, etc. Vishwash Chadha, Atlantis

The customer must look for three Ps—place, price, placement. Timely possession, quality of work and location are paramount in the mind of the client. Ashish Arora, Hermitage Group

Mohali and its periphery have developed vastly in the past few years. First-time buyers must get all the facts checked independently like the location, connectivity and loan support for the project. Sanjeev Thakur, Majestic Rise

The era of 'roti, kapda and makaan' is over. Tricity is an opportunity for the young brigade. Now, people in the age group of 28-35 want to have their own house. Having a home in Tricity is an aspiration for the youngsters. Nitin Bhattacharya, RISEONIC