The Panchsheel Cooperative House Building Society Limited (Regd. No. 827) was formed in year 1976. The society has enrolled 1764 members in the 1985-86. At present the society has 1711 members. The main objective of the society is to develop land to construct houses for its members. With this objective in view and funds contributed by its members, the society has purchased 155.92 acres land in 1985-86 at Village Rampur Kalan & Kuraree, Distt. Mohali and named it colony “AJITGARH” . The site is located on the Chandigarh-Rajpura Road, close to Banur Town. The land purchased by the society comes under agriculture land. The Punjab Govt.