A lot of Delhiites who have the capacity and desire to own a property for investment purpose choose Sonipat or Kundli as their first option. Kundli is the immediate neighbor of Delhi in Haryana on the Grand Trunk Road also called the GT Karnal road/ bypass. It is close to Narela in Delhi. As soon as you cross the Singhu border in North Delhi, you enter the Haryana state with Kundli, welcoming you as the first district of Haryana from Delhi. Enjoying the advantageous proximity to the upper class residential catchment area of North Delhi, Kundli’s prospects for a realty market is brighter.
Sonipat is a larger city of Haryana with a promising future. The real estate developers are now looking forward other areas after Noida and Gurgaon and probably cities like Kundli and Sonipat are their next target. The splurge which is resplendent in Noida and Gurgaon is expanding to locales like Kundli and Sonipat area. Major reason is its close proximity to North Delhi along NH-1 which is just 15 minutes away. Kundli-Sonipat is the prime location that links NCR to Chandigarh.
How can Kundli/ Sonipat be seen as a healthy real estate market?
Their great future lies in the following proposed developments:
Kundli- Manesar-Palwal Expressway or the KMP expressway: After the much awaited time period which has crossed several deadlines, the work on KMP expressway has begun with the BJP government focusing on it with prime importance. Now, instead of four lanes, the expressway is proposed to have six lanes and will take shape in another two and a half years to reach Kundli. However, the Palwal-Manesar stretch is expected to be completed by the start of the year 2016. It is a 136.5 km long expressway that links NH-1,2,8 and 10.
• Rajiv Gandhi Education City at Sonipat: After the IT hub of Haryana in Gurgaon it is the knowledge hub that is expected to come up on a sprawling 5,000 acre campus. This is expected to be a part of Kundli-Sonipat multi-functional urban complex along the NH-1 which is just at a distance of five kilometers from Delhi’s border. This education hub is expected to serve about 1.5 lakh students in 10 universities offering diverse streams like management, architecture, engineering, law, telecom, medical, insurance, biotechnology, etc. The hub shall escalate the stature of Kundli. The region is already resplendent with options like IT parks, SEZs, Biotech City, Cyber City, Fashion City and entertainment malls. To become a self sufficient township, the region is also expected to boast of luxury, budget hotels, resorts and hospitals.
• Proposed 100 meter wide road from IGI Airport to Narela: which passes through Kundli and is in close proximity to Kundli-Ghaziabad-Palwal (KGP) Expressway and KMP expressway.
• Expansion of Kundli Industrial Zone: This is another proposed development that shall help generate huge employment and spur economic activity. There is also a proposal for a logistic park as well as a textile park that shall bring this city to another level. With these developments, it will naturally raise the demand for residential, commercial and retail real estate activities at par with the Gurgaon and Faridabad belts.
• Improved connectivity: In the pipeline is a Rapid Rail transit System (RRTS) between ISBT of Delhi and Kundli which aims to cover the distance in just 20 minutes. There is also an expected metro line to the area giving it the required fillip.
Real estate moguls in this city include: TDI group acquiring 1250 acres is the premier developer in Kundli followed by Parsvnath Developers, Ansal API, Omaxe, Parker Group, Raheja Malls, Eldeco County, Anant Raj, Tulip Infrastructure, Collage Group, Eros Group, AJS Builders, Divine Group, Big Jos, Shree Vardhman and Jindal Greens.
What is the current investment potential of Kundli-Sonipat belt?
At present, it is moderate to good returns on investment. However, if you compare it to regions like Noida and Gurgaon then obviously the ROI is not at par with these regions but the potential of investment considering just these cities is high. The average plot price in Sonipat today (in the year 2015) is Rs. 25,000 per sq yd to Rs.30,000 per sq yd which stood at a mere Rs.4,000 per sq yd five to seven years ago. Kundli has much more to offer than Sonipat because of its close proximity to Delhi. What you could have bought in Kundli for Rs.5000 per sq yd in the year 2007-08 now stands at Rs.30,000 per sq yd to Rs.40,000 per sq yd.
In the same time period, the appreciation of Noida and Gurgaon has doubled due to slow pace of development in the region. The KMP expressway has delayed this appreciation which now is expected to rise as the work on the expressway has begun. But to see the other side of the story, the prices in Kundli is still affordable and can be obtained at Rs.30,000 per sq yd to 40,000 per sq yd which stood at Rs.5,000 per sq yd five to seven years ago. That is the kind of appreciation experienced here.
The investment scenario here will continue to remain promising given its close proximity to the national capital. Those with constrained budgets can enter this market and explore for affordable options. The real estate market in Kundli and Sonipat can gain prominence given the government’s focus to develop the area is continued.