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BY erealto | 05-12-2018

Is PR 7 a lucrative investment?

PR 7 is the 17.5 km long stretch of Airport Road, 200-ft wide, which connects Mohali-Kharar highway with the Zirakpur-Patiala highway. Also, GMADA is all set to extend the 200 ft. wide road by 10 km to connect Chandigarh international airport in Mohali with New Chandigarh via Sunny Enclave. This would shorten the distance between the two towns and the commuters would not have to enter Chandigarh. The process of urbanization has been firmly established in the state of Punjab. It was a steady process in the beginning but now it has gained momentum. According to census of 2011, the region of Greater Mohali had a population of approximately 10 lakhs, comprising 54.76 percent in the urban areas and 45.24% in the rural areas. In wake of congestion of existing cities, Greater Mohali Area Development Authority (GMADA) conceived an idea of developing a new independent and self-sustaining city to cater the projected growth of SAS Nagar in near future. The planning of SAS Nagar includes health institutes, educational infrastructure, and commercial and residential developments. The construction of PR 7 was very much necessary as it was required for many reasons, it improved the connectivity to the affected villages to Mohali-Kharar road, Eco-city, Edu-city, Baddi and Mullanpur. The positive impacts of PR7 and PR6 road are- • Improved connectivity to Chandigarh • Quick transport of agriculture/vegetables • The rise in the level of income • Reduced travel time and vehicle operating costs • Increased land prices • Improvement in the standard of living • Improved medical and health facilities The land acquisition during the construction led to the loss of fertile land, loss of livelihood of many people, loss of fruit plants, but compensation and rehabilitation assistance have been provided. But after careful examination of the various parameters of cost and benefit, it is found that proposed construction would benefit the local community at large. Many residential projects such as Lotus green avenues, Sushma Joy nest, Ananta homes, GBP Athens, Affinity Greens and many more projects are coming up. An international chain of hotels, Radisson, has also opened up their hotel, Radisson Red, in Mohali. There is a large scope of development of hotel industry here as there is a large inflow of domestic as well as international passengers who come here daily for tourism, business, and other purposes. The airport provides connectivity to Chandigarh by buses and taxis. Since this airport has been converted into an International Airport, the flights and the inflow of passengers have been consistently increasing. PR 7 is a very lucrative investment and would have higher returns in future from the investments made now.

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