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Sonipat, just 44 kms from Delhi has emerged as one of the fastest developing cities in National Capital Region (NCR). One of the most important factors for its growth is the rapid urbanization and infrastructure development in the region. It now boasts of seamless connectivity to the country’s other major cities via an extensive network of roads and highways. No wonder, this has led to a surge in its real estate market across residential, commercials and retail, given the changing customer demand comprising the upwardly mobile residents.
Rise of Sonipat
Sonipat’s location at Kundali-Manesar-Panipat Expressway offering quick access to major economic centres, and increasing congestion in Delhi, Gurgaon, and Noida are the prime reasons for investors and buyers now looking at Sonipat for lucrative property deals. And with the proposed RRTS (Regional Rapid Transit System), the place is going to become even more attractive to large businesses.
What's more, giving competition to Pune, named Oxford of the East, Sonipat is becoming the next educa- tion hub with more than 134 colleges and large educational campuses of premiere educational institutes such as SRM University, OP Jindal University, Rajiv Gandhi Education City, Ashoka University to name a few.
Additionally, the industrial sector in Sonipat has been growing steadily, with manufacturing, logistics and warehousing companies setting up units in the city. The recent example is the Maruti Suzuki's commitment of Rs18,000 crore towards a new manufacturing facility in Sonipat. With economic progress, there is as a spur in job opportunities for the local population as well as drawing skilled workforce from other regions. As one of the Mumbai based investor commented, “Sonipat will become the crucible of future economic dynamism. With the emergence of large global level industries such as the upcoming Maruti Suzuki plant in Sonipat, this location is poised to drive demand for mid-income housing projects and plotted developments.”
A Delhi based developer commenting on the rise of Sonipat said, “With favourable factors such as growing supportive infrastructure, lower living costs, and improved connectivity, Sonipat has stood out as a prime destination for both homebuyers and investors seeking lucrative and secure investment options. Investors recognize Sonipat's potential for high returns, driven by rising property values and lower land costs compared to metro cities. With its promising trajectory and investment-friendly environment,Sonipat will continue to be a compelling choice for discerning home-buyers and astute investors alike.”
A well-known brokerage firm was of the view that Sonipat's real estate market mirrors the city's transformational journey, offering a compelling mix of opportunity and prosperity and its real estate market offers a fertile ground for investors seeking not just returns, but a stake in the city's promising future.
Residential Hotspots
The property boom In Sonipat began in the mid-2000s, with real estate leaders such as Ansal API, TDI, Parker, Tulip Infratech and Eldeco, among many others launching residential projects from apartments, villas to plots.Express Enclave situated in the heart of the city in Sector 34 is one of the posh residential localities with a mix of independent houses and luxury apartments. Sector 15, Sector 23 and Sector 12 are other prime residential localities with luxury villas, gated communities, and modern amenities nearby.
Ashoka Enclave is known for its upscale homes, stately villas, and modern facilities, while Model Town with a mix of independent houses, apartments, and pent- houses offers a variety of housing options and good connectivity to the city centre. Rajiv Nagar is popular among families for its proximity to schools, hospitals, and shopping centers, whereas, Atlas Nagar, located on the out- skirts of Sonipat is characterized by its spacious plots and greenery. In addition, Kundli is a rapidly developing upscale residential location and commercial hub of the city. It offers affordable apart- ments to luxury villas, catering to diverse family needs.
According to sources, the residential property rates in Sonipat range anywhere from Rs 4000 to Rs 6000 per sq ft depending upon the location while the new devel- oping areas like Kundli command property rates of Rs 2800 – Rs 4000per sq ft.
Commercial Real Estate Hubs
Establishment of industrial parks and special economic zones (SEZs) in Sonipat-Panipat stretch has also led to availability of many viable options for industries and businesses. In addition, Rai, commercial real estate sector houses a number of lodges, hotels, restaurants, and is an attractive investment option for small businesses.
Murthal known for its parathas of Amrik Sukhdev Dhaba is now a fast-developing commercial hub with lucrative investment opportunities for commercial establishments from business and retail to hotels. In fact, Sonipat is witnessing steady commercial real estate growth, driven by the demand for office spaces, retail outlets, and commercial complexes.
The Dynamic Master Plan
The city's allure as an invest- ment hotspot is set to be further augmented by the Sonipat Master Plan 2031 envisaged to put the city on the national map as the most developed industrial cities of NCR.
This master plan is expected to cater to the needs of 25,06,600 people with three core aspects of proposed land use of approximately 20220 hectares being residential, commercial, and industrial devel- opment, among others. About 92 sectors have been planned to sup- port the residential and housing demand in the city. An outer pe- ripheral road linked with the Grand Trunk Road has been proposed to enhance traffic flow within the city and about 1,933 hectares will be allocated for developing open spaces, including 60-metre green belts along national highways and a town-level park in Sector
Residential: About 7,071 hectares of land have been allotted for residential use, divided between Sectors 1-92. The residential development will also include access to markets, health facilities, and recreational facilities for a holistic living experience.
Commercial: The commercial development of about 606 hectares of land has been proposed in Sectors 3, 25, 40, 85, and 86, based on the surrounding road networks that would facilitate the smooth transfer of goods.
Industrial: Over 4,940 hectare of land have been proposed to establish industrial zones to boost the State’s revenue and divided into different sectors. New industrial sectors have been planned in the area proposed for Education City Phase-II.
In conclusion, while the current development has transformed Sonipat status from an agricultural heartland to bustling urban centre, the further infrastructural advance- ments as planned, will boost its lure even more as the next growth engine of NCR real estate.
The affordable property rates as compared to Gurgaon or Noida, proximityto Delhi, ease of connectivity to other major cities and availability of skilled workforce are some of the reasons, setting Sonipat on fast track of progress.
