Archive · 16 Jun 2025
Omaxe Shares Surge Following Amritsar Township Project Announcement
Omaxe, a real estate company, is building a new town called New Amritsar near the Golden Temple in Amritsar.
They are investing over 1,000 crore rupees to build homes and other facilities.
They have already bought land, and the first part of the project, covering 127 acres, is expected to be finished in about four years.
The project includes residential plots, commercial spaces, a school, and a clubhouse.
The announcement caused the company's stock price to increase, indicating positive investor sentiment.
The location will benefit from infrastructure advancements, especially the new expressway.
Omaxe Ltd. announced a new township project in Amritsar.
The project, named New Amritsar, will be located near the Golden Temple.
The company acquired 260 acres of land for the township.
The first phase of the project will cover 127 acres and is expected to be completed in approximately four years.
Omaxe shares rose by nearly 14% following the announcement.
- Who
- Omaxe Ltd.
- What
- Omaxe is investing in a new township project in Amritsar.
- When
- The announcement was made on June 16th; the first phase is expected to be completed in approximately four years.
- Where
- Amritsar, Punjab, near the Golden Temple.
- Why
- To expand their presence and capitalize on infrastructure growth.
- Company
- Omaxe Ltd.
- Project Name
- New Amritsar
- Location
- Near Golden Temple, Amritsar, Punjab
- Investment
- Over ₹1,000 crore
- Land Acquired
- 260 acres
- First Phase Area
- 127 acres
- Share Price Increase
- 14%
