The Delhi-Sonipat Corridor is fast becoming one of the most top real estate growth corridors in Northern India. With infra -structure coming up at a faster pace, conduits are improving and commercial activity is picking up. This corridor is transforming the entire property Market in Sonipat. Once a not-so well known ‘back end’ market, it is fast becoming a magnet for investors, end users and developers alike seeking higher than average returns over the long run.
Strategic Position as a growth enabler
Another major factor behind Sonipat’s imbalanced growth is its location at a very short distance from the national capital Delhi. Located within a few kilometers of Delhi, it has emerged as the preferred choice for people wanting to shift for a calmer life coupled with affordable property rates and still maintain the access to important job centers.
The corridor between Delhi and Sonipat has created a new infrastructure that have drastically cut down commute for professionals working in Delhi, Noida and Gurugram. Residential and commercial properties are getting highly appreciated as connectivity along the corridor advances.
Influence of infrastructure growth
Real estate prices are heavily influenced by infrastructure development, and the Delhi-Sonipat Corridor is witnessing significant investment in this domain. Key developments are underway and have been completed:
* Heavy development and widening of NH-44.
* Better connectivity by road of Sonipat to Delhi,
* Enhanced public transit connectivity, including proposed extension of the network of Delhi metro to link the corridor to other parts.
* Development of logistics and industrial clusters.
Increased reach to outside of school buildings and hospitals
The development of infrastructure can be seen to not only have made sonipata more livable area but has also factored in providing new impetus for real estate marketand has lead to rise in property prices in the corridor.
Demand for Residential Properties sky rockets
There has been a tremendous rise in demand for housing units in Sonipat in last couple of years. Compared to property rates in Delhi and NCR, Sonipat has highly attracted the attention of various prospective buyers mainly because of its not so high rates.
Townships, plotted developments, gated communities as well as projects developed under the Deen Dayal Jan Awas Yojana (DDJAY) initiative have emerged as favorite investments among investors.
Families are finding the property in Sonipat to be highly attractive because of:
* Affordable housing rates
* Pleasant environment
* Less population density
* Plenty of big homes and lot sizes on the market;
* Having better schools and health care26
With demand overtaking supply in a few places, the real estate prices of Sonipat and the whole corridor region are on a sustained rise.
Surge in industrial and Commercial Development
Sonipat is projecting itself as a potential industrial and business hub. The existing numerous industrial zones and area and logistics & warehousing stops, manufacturing units and manufacturing centers have created multiple employment generation potential to develop.
The following factors are responsible for drawing industries and commercial enterprises to Sonipat:
*Prime land due to proximity to the capital.
*Price—cheaper land.
* Great highway connections.
Increasing numbers of consumers thus supporting the enterprises.
support by the government for industry.
With increasing number of industries moving into Sonipat corridor, there will be a definite increase in demand for both residential and commercial space.
Growing Investor interest
Similarly, real estate investor have also focused on the growth potential of the Delhi-Sonipat Corridor. As is demonstrated by the various mega infrastructure projects executed in the past, such colossal projects tend to give good returns on investments and the corridor seems to be on its way toward the same.
Investors are specifically keen on buying:
* Residential plots.
* Properties in projects approved in DDJ AY.
* Commercial units.
* Break up of land along the major highway and transport routes, resulting in more access points.
* Other properties within future township developments.
With a low entry price and promising returns in the offing, Sonipat is proving a good investment proposition for both erstwhile and new investors.
Investment in Education and Institutions
Sonipat has already established as an education hub with many reputed universities and institutions. Consequently, has created stable demand for residential and rental properties and commercial properties namely eateries, shops etc.
The establishment of a good educational network helps in:
■Increasing the rental demand.
* encouraging the expansion of community-based business.
* Improving social amenities.
* Promoting to all the development.
One of the most important ingredients that helps in sustained appreciation is good educational infrastructure is what can be seen in Sonipat.
Government schemes fuelling confidence
The increasing confidence of investors and home buyers has been fueled by a number of governments supported initiatives. Urban development and infrastructure schemes and planning has assisted developers in venturing into the new residential projects.
The Deen Dayal Jan Awas Yojana is also instrumental in propelling the further plot developments and boosting the sustenance of owning a home in the city.
All these have created a perfect environment for buyers as well as investors.
On the horizon for property values
The future of Delhi-Sonipat Corridor is very promising. Property prices are assured to appreciate in the next few years due to investments in infrastructure, expanding industrial base, and there is huge potential for demand by consumers, in the region.
Proximity to such areas as the highways, future transport corridors, manufacturing zones and high value housing schemes will result in the substantially higher value appreciation.
Due to persistent and ever-increasing demand and land shortage due to pan-Delhi setting limits on the proposed city, towns close to it, such as Sonipat, are sure to help fulfill future housing as well as commercial needs.
Final thought
Today, the Delhi-Sonipat Corridor is not a route but an important development corridor which is driving economic development and real estate boom. With improved connectivity, rising infrastructure, strong industrial growth and growing demand for accommodation, Sonipat has emerged as one of the most attractive real estate markets in NCR.
It is the most suitable time for homebuyers wanting an affordable lifestyle and for investors wanting long term capital gains. With the corridor growing and access getting easier, the value of the property is bound to appreciate further, making it the right time to buy in Sonipat
