IACCGH Hosts PUDA Delegation

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.