WILL ED­U­CA­TION BE THE TRIG­GER?

As many as 2000 units are ex­pected to be de­liv­ered in the Kundli-Soni­pat belt this year

HT Estates - - HTESTATES - Van­dana Ram­nani

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

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