Can Sonepat, Panipat become new realty hubs?

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has recently advocated that Sonepat and Panipat should be included in the government’s 100 smart cities project. In the list of cities proposed by Finance Minister Arun Jaitley, while Panipat found a place, Sonepat did not. But ASSOCHAM does not see much difference between the two towns and feels that both should be included in the government’s upcoming project.

The real estate industry too resonates the same views and believes that there is great untapped potential in both Sonepat and Panipat. Rajesh Goyal, MD, RG Group, says, “Sonepat and Panipat have huge potential to grow and develop as smart cities as these towns are still in the phase of development. In comparison, in Delhi NCR, you will find soaring realty prices. The Haryana towns on the other hand can cater to housing, commercial spaces, as well as significant expansion opportunities for industrial investors.”

Some of the new projects in Sonepat and Panipat:

Location	Project Name	Developer Name	Unit Size	Unit Configuration	Price (As in May 2015)	Expected Possession
Sonepat	Divine Presidia Heights	Divine Group	2-3 BHK	1491 - 1865 sq ft	-	December 2016
Sonepat	TDI KingsburyApartments	TDI Infrastructure	2-4 BHK	1110-1930 sq ft	Rs 28.5 lakh to 1.05 crore	Ready to move
Panipat	Parsvnath Royale Floors	Parsvnath Developers	3 BHK	1170-1450 sq ft	-	March 2017
Panipat	Splendor Grande	Splendor Landbase	2-3 BHK	1375-1895 sq ft	-	December 2016
Panipat	La Regencia	Stanza Developers and Astrum Homes	2-3 BHK	1208-1693 sq ft	-	December 2015

Upswing investments in industries present in Sonepat and Panipat are already expected to create more than 2 lakh jobs in next 2-3 years. The twin towns are also strategically situated, not far away from Delhi or the much talked-about Kundli-Palwal-Manesar (KMP) Expressway. There are multiple housing and commercial projects present in the regions and there have been murmurs that the Delhi Metro may also get extended to these parts.

Praveen Tyagi, CMD, VVIP, says, “Sonepat and Panipat are on the trail of growth. Haryana already has a positive track record for development. Inclusion of both these towns in 100 smart cities project will definitely attract fresh investments and help in the development of these regions as well as overall development of the state too.”

ASSOCHAM believes that the Haryana towns have the potential to attract investments in the region of Rs 200-300 crore. If the government does decide to include these regions in their ambitious project, then an increased investment in the areas of BPOs, automobiles, education and healthcare are expected.

C K Taneja, Regional Owner, RE/MAX Haryana, says, “I believe that if Sonepat and Panipat become smart cities of tomorrow, they could act as a catalyst to multiple operations. In these towns, one could look at a great example of smart living, smart governance, smart infrastructure and smart mobility. That can benefit both economic growth, as well as support ignored industries like real estate, thus giving a better living to the people."

SOURCE:99Acres