Urban Extension Road (UER-II) is a new 76 km long six-lane road in Delhi built to decongest the city. It starts from NH-44 in Alipore, Delhi, passes through Rohini, Mundka, Najafgarh and Dwarka and ends at NH-48 near Mahipalpur. It also connects to Dwarka Expressway and Delhi-Mumbai Expressway. With the construction of this road, the travel time between Delhi and Gurugram will be significantly reduced and there will be relief from jam. But the most important thing is that due to the construction of this road, there has been a property boom not only in Gurugram or Sonipat but also in Panipat, a city lying ahead of Sonipat.
Bhupendra Singh, Founder of Property Transactions and Real Estate Analyst It is said that UER is not only beneficial for Delhi, Gurgaon and Dwarka Expressway, but because of this road, the journey to NCR’s Sonipat, Panipat, Karnal and Kurukshetra, besides Himachal Pradesh and further to Jammu and Kashmir, is going to be not only in less time but also free from the hassle of jam and easy. This is the reason why people are now moving towards Sonipat, Panipat and Karnal for residence.
Bhupendra further says that if we look at the prices of the last few months, since the inauguration of UER, both developers and investors have started looking for opportunities in these cities. Interestingly, Sonipat is near Delhi but the increase in property rates shows that people are taking interest in investing in Panipat. The prices of land here have increased more than in Sonipat. The most important thing is that in Panipat, there is more emphasis on plotting instead of flats, in such a situation, people who want to live close to NCR and want to build their house on their own land instead of a flat, are turning towards Panipat. One reason for moving towards this city is that Panipat is close to NCR as well as Chandigarh, the capital of Punjab and Haryana.
Singh says that in this city which is the hub of industries and connected to GT Road, 100 square meter plots are available around the highway for Rs 1 to 2 crore. Whereas in Sonipat the rates are slightly less or almost the same. Talking about Karnal, such a big plot is available on the roadside even at a price of Rs 60 lakh. Whereas Kurukshetra is still cheaper than all these. You can get a good property here for up to Rs 50 lakh.
Let us tell you that many big real estate brands and developers have also started arriving in Panipat. Even NRIs are not lagging behind in investing here, this is because the documents come through the embassy and the relatives have power of attorney. In such a situation, the day is not far when Panipat, which already has industrial property, will emerge as a new hot-spot for residential and commercial property and real estate.
Developers also have hopes from this city
Abhay Kumar Mishra, President and CEO, Jindal Realty, says that with major infrastructure projects like RRTS, UER-II and the upcoming Delhi Metro extension, the areas beyond Delhi like Sonipat, Panipat etc. are now on the cusp of a connectivity revolution. Travel time from these cities to Delhi IGI Airport and Central Business Hubs of Gurugram will reduce significantly. Due to which both these cities will prove attractive for home buyers and industries. As access improves, demand will also increase, leading to long-term growth and value addition.
Rohit Kishore, CEO of Hero Realty, said that Tier-2 and Tier-3 cities are now becoming very attractive for real estate developers because the demand for houses in these places and the interest of investors is continuously increasing. Infrastructure like better roads and expansion of metro network have further increased the attractiveness of these cities. The demand for plotted houses is increasing rapidly in both Sonipat and Panipat cities because people are now preferring bigger and customized houses. The market position of Panipat and Sonipat is being further strengthened by the nearby and upcoming infrastructure projects between Delhi-NCR and Chandigarh.
