National Highway 1 links the Capital to Amritsar. This highway passes through Kindli, Sonipat, Rai and and Panipat in the National Capital Region. The Sonipat district of Haryana is witnessing major real estate developments in the areas along NH-1 like Kundli and Rai.
During the last decade in Kundli and Sonipat, there has been an extensive increase in infrastructure facilities like road networks, sewage disposal systems, power distribution systems and social infrastructure like hospitals, education centres and recreational facilities. Therefore, these regions have experienced large number of new realty projects along with the rise in demand across affordable, luxury and ultra-luxury segments.
Kundli and Sonipat are a 20-40 minutes drive from the residential hubs of north and north-west Delhi like Pitampura, Rohini and Punjabi Bagh.
NH-1 (within the NCR) would be witness to major infrastructure projects in the near future, that would become the key drivers for the robust growth of the realty market here.
The proposed Rapid Rail Transit System (RRTS) would connect Kashmere Gate in Delhi to Kundli and Panipat with high-speed trains that would cover the distance in 20 minutes.
The Kundli-Manesar-Palwal (KMP Expressway), would act as a 135 km long bypass for traffic coming from the north of Delhi on NH-1 and going towards south on the NH-2 or the west along NH-8. Along this expressway are large townships coming up such as Medi City, Biotech City, Cyber City, Entertainment City and Tech Park etc. Once this expressway gets functional one can easily reach Delhi airport within 30-45 mins from Kundli.
The third initiative is the Rajiv Gandhi Education City, spanning over 5,000 acres. The government has already acquired 2,000 acres for Phase-1 and has allocated land to 15 universities. This area is coming up with engineering colleges, medical schools, management institutes, research centres and law schools. The IIT Delhi is also building a campus on 100 acres of land. Some of the international universities are also expected to set up their campus in this city.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) is developing industrial estates and industrial model townships in Kundli and specialised parks at Rai.
These areas have witnessed a huge supply from various large developers of the NCR real estate. Some of the developers that have come up with their residential and commercial projects in Kundli and Sonipat are Landmark, Mapsko Builders, Eros, TDI, Parsvnath, Ansals, Omaxe, Eldeco & Tulip.
Currently these developers are selling their projects in the range of Rs 2,800 – 4,500 per sq. ft depending upon the location and stage of construction.
The investment that is worthy of consideration are plots, that can yield good long-term returns. Plots in Kundli and Sonipat are available in the range of Rs 18,000 – 35,000 per square yard.
They are much more affordable if compared to other suburbs of Delhi & NCR. Investors and users from all across NCR and other cities are buying real estate here and as a result, capital values in future will see a good appreciation of over 15-20 per cent per annum.
— The author is MD Bajaj Capital. With inputs from Sunil Agarwal, principal advisor, Bajaj Capital Realty