Sonipat is emerging rapidly in NCR, what real estate experts say?
Sonipat is rapidly emerging as an emerging real estate hub. Strategically located on the northern edge of delhi, Sonipat is rapidly transforming from a tier-2 city to a preferred destination for investors and businesses, with its rapidly growing industrial landscape and improved infrastructure. Enhanced connectivity through highways such as the Kundli-Manesar-Palwal (KMP) Expressway, the proposed Rapid rail Transit System (RRTS) and the recent approval of the metro extension from delhi to Sonipat have further added to the city's attractiveness.
Sonipat's attractiveness stems from its affordable property prices and low cost of living, establishing it as a promising destination for mid-income housing and commercial development. Recent infrastructure advancements, including smart industrial parks and logistics hubs planned as part of the Delhi-Mumbai Industrial Corridor (DMIC), are bringing in large-scale investments. maruti Suzuki's upcoming manufacturing plant to be built at a cost of ₹18,000 crore will boost employment and attract a skilled workforce, thereby increasing demand for both residential and commercial properties.
Reflecting rising consumer confidence and economic resilience, housing sales in India's top 30 tier II cities grew 11 per cent to nearly 2.08 lakh units in FY2023-24, according to data analytics firm PropEquity. This growth in sales underlines the strong demand for residential properties driven by several factors including economic growth, progress in infrastructure and the growing desire to buy homes among middle-class families.
Housing sales in the North Zone - Bhiwadi, Jaipur, Mohali, Lucknow, Bhopal, Chandigarh, Dehradun, Ludhiana, Agra, Sonipat, panipat and amritsar saw sales of 26,308 units in 2023-24, up 8% from 24,273 homes in 2022-23.
Commenting on the evolving scenario of the city, Madhur Gupta, CEO, hero Realty, says, “Strategically located, Sonipat is fast emerging as a real estate powerhouse in the NCR region with its excellent infrastructure. The KMP Expressway and the upcoming Delhi-Mumbai Industrial Corridor, in addition to Sonipat’s position as a major education hub in North India, are further fuelling its growth. The upcoming Rapid rail Transit System will enhance connectivity, thereby strengthening Sonipat’s prominent role in the NCR real estate landscape. Early last year, hero Realty launched its plotted development project, hero Earth Swarnpath in Sonipat, and has been overwhelmed by the positive response from buyers. The immense potential of the region and the significant capital appreciation in recent years make it a promising investment opportunity. We expect continued growth in the region.”
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