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Sonipat belt becoming a favoured property destination for property investment
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Real Estate Advise
Kundli, Sonipat and Panipat are today becoming the best investment optins in the NCR owing to their close proximity to Delhi and the fast-paced infrastructure development in these areas. Main reason why these areas have emerged as a favourite destination of investors is the prices that are already high in other parts of the NCR.
Some other regions, therefore, do not offer much scope for appreciation, whereas in Kundli, Sonipat and Panipat prices are still low, and investors can hope to make profits. The KMP Expressway, nearing completion, will provide faster access to the international airport and facilitate the development of a new economic corridor. Kundli is about 25 km from Pitampura. Just as people living in south Delhi prefer to invest in Gurgaon, those living in east Delhi prefer to invest in Noida and Greater Noida, so also those living in north and west Delhi are now investing in the Kundli, Sonipat, and Panipat belt.
The infrastructural developments taking place in Kundli are poised to convert the region into another Gurgaon. The KMP and KGP Expressways, under construction, will make connectivity easy to Kundli and convert it into a logistics hub. The forthcoming 5,000-acre Rajiv Gandhi Education City, IT parks and the expansion of the Kundli Industrial Zone in the area will generate employment and economic activity. Such activities in and around the developing area will give rise to an increase in demand for residential, commercial and retail real estate, and fuel a growth that will make Kundli a top NCR destination.
Real estate in Sonipat is witnessing large-scale developments in all sectors residential, commercial and retail. Residential property in Sonipat has become a favorite in comparison to its commercial and retail segment. Rohtas Goyal, the chairman and managing director of Omaxe Group, says: As Delhi real estate became unaffordable due to rocketing prices, the NCR cities like Gurgaon and Noida caught everyone s attention. Now, real estate in Gurgaon, as well as Noida, is following the same path as Delhi, and consequently developers are looking beyond them too. The next in league is Sonipat, which seems to be all set to become the new Gurgaon.
About 50km from Delhi, Sonipat is today seen as one of the largest industrial zones of Haryana. It is fast emerging as an excellent residential and investment destination due to large availability of land and low property prices. A spurt in Sonipat real estate is evident with various developers and builders launching large residential as well as commercial projects in the city. It has a well-developed industrial base and supportive infrastructure. Leading brands like Atlas Cycles, Hilton Rubber, ECE, Hindustan Everest Tools and Satnam Overseas already have their units in the town.
About 90km from Delhi, Panipat continues to grab the attention of prospective investors. Panipat has the distinction of being a petrochemical hub. But there has been an ongoing process of developing it into a high-tech city, which has inspired many real estate developers to invest in Panipat real estate. The Haryana government is taking keen interest in developing the region with heavy investments. A government s approval in acquiring 5,000 acres of land for petroleum, chemicals and petrochemical investment has already taken place. According to sources, the proposed region is expected to attract 400 companies with an investment of nearly Rs 13,000 crore in the coming years.
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