The Punjab Government has revived its plan to set up a state-of-the-art central business district (CBD) in Mohali. This time round, the government is planning to have a financial city here as an anchor, which in turn will attract investors to set up a convention centre, hotel and a theme park.
Senior officials in the Housing Department told The Tribune that the idea to set up a financial city would revive the CBD project, which had failed to take off because of slowdown in the real estate sector. Since the services sector in the country was still growing, the government was keen to attract banks and other financial institutions to set up their regional/zonal offices here, which in turn would give wings to the CBD project, they said.
The government has 250 acres of land for the project and the financial city project will be set up over 80 acres. “The proposal is to construct a commercial centre here and set up a financial district. We will approach various banks, financial institutions like LIC and private financial institutions to buy land in financial city and set up their zonal offices,” Chief Secretary Rakesh Singh told The Tribune.
He said most of the nationalised and private banks in the region had their north zone offices in Chandigarh, and many of them were looking at expanding these offices.
“Because of lack of space in Chandigarh, they have had to put on hold their plans. We can offer land to these institutions in Mohali,” he said. Rakesh Singh said the project to set up a financial district in Mohali would also help in strengthening the nascent knowledge economy of Punjab.
Source: Tribune India