Srinagar Commercial Realty Attracts Rs 421.75 Crore Investment

A 5.625-acre land parcel in Srinagar has been acquired for Rs 421.75 crore through a competitive overnight auction, underlining rising investor interest in the city’s commercial real estate market.

Located near the stalled Sangarmaal commercial complex and Kashmir Golf Course, the property attracted competitive bidding after the auction opened on August 25. Parmesh Construction Company, a consortium involving Pahalgam Green Hotels and Bhutani Infra, emerged as the successful bidder.

Offered on a full-lease basis, the high-value transaction provides a significant opportunity for private-sector-led commercial development in Srinagar. The sizeable land parcel could support future retail, hospitality, office or mixed-use development, depending on the approved plans.

Meanwhile, the Srinagar Development Authority is preparing another major redevelopment opportunity at Batamaloo, potentially adding to the pipeline of large-scale urban investment projects in the city.

The transactions point to growing private investment appetite for Srinagar’s commercial and urban development opportunities, potentially strengthening the city’s position as an emerging investment destination in Jammu & Kashmir.

News by Rahul Yelligetti