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IACCGH Hosts PUDA Delegation
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Houston, TX, USA, 11/14/2003: A delegation
from Punjab Urban Planning & Development Agency (PUDA),
led by Mr. Gurinderjit S. Sandhu, I. A. S. Secretary,
Housing and Urban Development, Government of Punjab,
recently visited Houston. Accompanying Mr. Sandhu were,
Mr. Jaideep S. Sekhon, Addl.Chief Administrator, PUDA
and Mr. Om Chaudhry, of Feedback Ventures, as
consultants to PUDA.
A get together was hosted by Indo American Chamber of
Commerce of Greater Houston (IACCGH) at the Consulate of
India's office. Mr. R.L.Koli, Dy. Consul General,
welcomed the chief guests. IACCGH member Harvinder Arora
chaired the event.
The event was well attended by a cross section of the
Indian community including real estate developers,
doctors, engineers, and prominent Indo American business
people.
The delegation was in town to promote real estate
investment and development in the key cities of Punjab,
viz. Amritsar, Jalandhar, Ludhiana, Mohali and Patiala.
Some salient features outlined by PUDA delegates:
01) The State of Punjab is among the leading states of
India, with economic
growth rate at over 6% per annum since the mid-90's. It
has also historically
had the highest per capita income in the country -
representing high
spending potential.
02) Punjab's infrastructure development index is the
highest in the country (and
nearly double the national average), representing
availability of high quality
infrastructure for development.
03) The State of Punjab has also among the highest %
rates of urbanization in
India (at 34% against a national average of 28%).
04) It is estimated that about 1/ 3rd of all high-end
residential property
transactions in the state are done by non-resident
Indians residing across the
world, representing an active and a ready market segment
for real estate in
India.
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