Soni­pat’s new growth story

HT Estates - - FRONT PAGE -

The lo­ca­tion: Driv­ing to Soni­pat barely takes 20 min­utes from Delhi’s western bor­der near Narela. In 2004, builders bet heav­ily on the fact that the pop­u­la­tion of north Delhi would shift to this area as south Delhi had moved to Gur­gaon Tardy pace of growth: The slow pace of progress on in­fras­truc­ture projects such as the KMP Ex­press­way, con­nec­tiv­ity with Delhi and lack of IT/ITeS com­pa­nies in the re­gion has only pro­longed the growth story Ed­u­ca­tion city: The Ra­jiv Gandhi Ed­u­ca­tion City spread across 5,000 acres has helped project Soni­pat as a higher ed­u­ca­tion hub. The Na­tional In­sti­tute of Food Tech­nol­ogy En­trepreneur­ship and Man­age­ment also has a Kundli cam­pus Lack of crit­i­cal mass: As of to­day, oc­cu­pancy of realty projects is around 25% but as work on KMP and KGP gets mov­ing and there is ac­tual work on ground, real es­tate val­u­a­tions are likely to move up and more peo­ple may de­cide to move in due to in­creased job op­por­tu­ni­ties Real es­tate po­ten­tial: As of now, the KundliSoni­pat belt has of­fered mod­er­ate-to-good re­turns on in­vest­ment in ab­so­lute terms, though it’s not as good as Noida and Gur­gaon. Av­er­age plot prices are in ex­cess of ₹ 25,000 per sq yard and an apart­ment can cost around ₹ 2,500 per sq ft

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