Punjab Deputy Chief Minister Sukhbir Singh Badal declared that a new real estate policy would be put in place by next month to give a clear direction to the State’s development as the real estate hub of the country. The State would become power surplus by the end of 2013, he said.

Addressing international and national real estate developers at a conference organised by the Confederation of Real Estate Developers Association of India (CREDAI) here, Mr. Badal said a new real estate policy giving a clear cut direction to the development of this sector would be put in place by December 15. It will be consumer and investor friendly and address the concerns including failure to deliver residential units on time by the developers. The policy would include a plethora of incentives including hassle-free and time-bound clearances, uniform code for all cities, unlimited heights besides rationalising charges.

Mr. Badal said Punjab would be the first State in the country to be power surplus by December 2013. It will have three international airports, all cities linked with 4/6 lane road networks and special emphasis would be laid on education, health and hospitality. Punjab has already notified the master plan of 32 cities, 72 local planning areas, 147 towns and 27 master plans were under preparation.

The Deputy Chief Minister said that against the demand of 8,214 MW and current availability of 5,872 MW, Punjab would be generating 1,1484 MW by the end of 2013. He said that Rs.12,000-crore 1,980-MW Talwandi Sabo Thermal Plant; Rs.3,000-crore 540-MW Goindwal Sahib Thermal Plant and the Rs.9,000-crore 1,400 MW Rajpura Thermal Plant are all set to become operational by next year. “By next year Shambhu-Jalandhar, Jalandhar-Pathankot, Jalandhar-Amritsar, Amritsar-Pathankot, Amritsar-Zira-Kotkapura-Sri Ganga Nagar, Ludhiana-Moga-Talwandi, Hoshiarpur-Jalandhar-Moga-Barnala-Sangrur-Patran-Jind, Kharar-Ludhiana, Kurali-Ropar-Kiratpur Sahib, Ambala-Zirakpur-Kalka, Zirakpur-Patiala and Patiala-Bathinda would be linked with 4/6 lane roads with an investment of Rs.7,600 crore,” he remarked.

He said Punjab will be developing educational cities in Mohali, Ludhiana and Bathinda, tourism and entertainment hubs in Amritsar and Ludhiana. He said that Tata Cancer and Research Hospital had already moved to Mullanpur near Chandigarh.