WILL EDUCATION BE THE TRIGGER?
As many as 2000 units are expected to be delivered in the Kundli-Sonipat belt this year
Wi t h construction i n full swing at the Rajiv Gandhi Education City, spread over 2000 acres, in Kundli, Sonipat is fast emerging as a higher education hub. Developers too are cashing in on the sentiment and have started delivering units to meet the demand arising from these institutes.
But will these announcements help the city recover lost ground? Can t hese developments enable Sonipat to grow at a pace similar to Gurgaon and Noida? The property market in Sonipat has not taken off with the initially anticipated speed due to delay in proposed infrastructure projects, especially the KundliManesar-Palwal Expressway (KMP). The region also lacks critical mass in terms of population, and it has yet to emerge as a preferred office destination for IT/ ITeS organisations, say experts.
Sonipat is located on NH1, barely a 20-minute drive from Delhi’s western border near Narela. It was in 2004 that some builders thought about developing this market. They believed that just as people from south Delhi had moved further into Gurgaon, and those in east Delhi to Noida, the residents of north Delhi would find the Kundli-Sonepat belt to be an attractive residential destination. They assumed that those who had missed the bus in Rohini and adjoining areas would choose Sonipat.
The region offers a viable alternative to those seeking housing in the mid- segment. There are several options available in the group housing, villas and independent floors segment here.
According to Shashank Jain, COO, Ansal API, the company plans to deliver 400 units by the end of this year and approximately 100 plots. Seventy studio apartments constructed keeping in mind the growing needs of institutes coming up in the Education City will also be handed over. Ansal API has around 300 acres in Kundli. A group housing project Sunshine County spread across 12 acres has approximately 800 units where 200 families have already moved in. There are approximately 1000 plots in the township, 85% of which have already been handed over. The company has recently acquired 50 acres where more plots are expected to be carved out. Plans are also on the anvil to launch inde- pendent floors and plots in this project.
The company is also in discussionwith e ducational institutions coming up in the area as part of Education City to provide hostel facilities. The company is currently constructting 70-odd studio aparttments for approximateely 300 to 400 students as part of its commercial/ al/ retail establishment in the area. It will deliver ver them in the third quarter rter of this year, Jain says. s.
The area has takenen a long time to develop priprimarily because infrastructure development was not commensurate with residential development.
Real estate experts and builders feel the government needs to become proactive. There is a need to develop it into a software parts hub. Some land should be allocated to encourage call centres to set up offices in the area.This will kick-start the economy in the area, Jain says.
TDI has delivered about 3000 units, 500 low- rise floors and 4000