Sonepat is an ancient town in
Haryana that is widely popular for its Mughal buildings and Yamuna River. It is
one of the important education hubs with plenty of reputed schools and colleges
all around the city.
Real estate in Sonipat is
witnessing large scale developments in all sectors-residential, commercial and
retail. Residential property in Sonipat has
especially become a favorite with many as compared to its commercial and retail
segment. It is interesting to take a quick look at the property trends in India
that led to emergence of Sonepat, a small town as a residential realty
destination.
1. As India started developing its infrastructure, it began with
expansion of real estate by developing houses and offices on vacant land to
meet the industry needs. These realty developments were initially concentrated
only on metro cities of the country. This is how Delhi, the country capital;
Mumbai, the financial capital; Kolkata, the City of Joy and Chennai became
realty hubs.
2. Soon, the rapid paced developments in Delhi real estate and
other metro cities reached a saturation point. With no more scope left for
further developments there, property builders shifted their focus to other
upcoming metros like Hyderabad, Pune, Ahmedabad and Bangalore, the Silicon
Valley of India. This resulted in real estate expansion of major cities of the
country.
3. But later, these cities also reached the same saturation levels
as other major metros. This is when the real estate potential of tier-II
and tier-III cities like, Nasik, Indore, Surat, Nagpur, etc. was realized. The
suburbs of metros also came into picture at the same time to cater to the
growing property demands. Some of them include
- (a) Delhi NCR like booming real estate in Gurgaon, Noida,
Faridabad and Ghaziabad;
- (b) Mumbai like Navi Mumbai, etc
This pattern has been followed by
property developers to meet the commercial and housing demands of both
corporates and individuals. Now, as these suburbs, tier-II and tier-III cities
are also welcoming fast realty developments, towns and districts are next in
the line. The towns nearing metros like Delhi like Sonipat, Rohtak, Panipat,
etc. are grabbing eyeballs of property investors and property developers.
Sonipat real estate is the
upcoming residential market near Delhi, the country capital. Barely 50
kilometres from Delhi, is Sonipat seen as one of the largest industrial zones
of Haryana. It is fast emerging as an excellent residential and investment
destination due to large availability of land and low property prices. A spurt
in Sonipat real estate is
evident with various developers and builders launching large residential as
well as commercial projects in the city.
As Delhi real estate became
unaffordable due to sky rocketing prices, NCR like Gurgaon and Noida caught
everyone’s attention. Now, real estate in Gurgaon as well as
Noida is following the same path as Delhi, developers are looking beyond at
other cities. And the next in league is Sonipat that seems to be all set to
become the new Gurgaon.
Sonepat is strategically located
as it falls in the National Capital Region and has well developed industrial
base and supportive infrastructure. Leading brands like Atlas Cycles, Hilton
Rubber, ECE, Hindustan Everest Tools and Satnam Overseas already have their
units in the town. Besides industries, it also boasts of a rich agricultural
base with quality rice, mushrooms and cash crops being cultivated in plenty.
The increasing cost and the
rising demand for housing in Delhi coerced builders to look for fresh avenues
for developing satellite townships. Therefore, on account of strategic
advantage of proximity to Delhi, Sonepat holds a bright future for
entrepreneurs, investors and developers.
