Much-awaited Kundli -Manesar-Palwal or KMP expressway is finally now operational after the inauguration by Prime Minister Narendra Modi on Nov. 19, Monday. The opening of 200-km expressway has left the realty experts beaming with hope as they are calling this ‘infra loop’ as ‘game-changer’ for the real estate sector in the region.
Several experts are pointing out that KMP expressway would soon be the hub of industries, warehouses, transhipment firms and logistic centres. Now that the expressway is operational, the demand for such and other allied activities is poised to grow.
Considering the fact that KMP expressway is well connected to Manesar and Gurgaon industrial belt as well as the airport, the real estate market in Sonepat-Kundli will receive an immediate fillip.
“There is a huge increase demand for industrial and warehousing lands as well,” Pankaj Bajaj, president, CREDAI-NCR, told Money Control. “ We expect the prices to rise by 15-20 per cent in the short term and more importantly rises in actual inhabitation in this belt.”
The positive impact will be seen as far as regions around Sonepat and Kundli. In no time, investors are expected to acquire big parcels of land that are over 100 acres for setting up warehousing facilities. In fact, several foreign investors reportedly have already started showing interest in this location, so have private equity funds.
Realty experts also believe that all the land parcels facing Rajasthan, Delhi and Haryana will see industrial growth. Apart from warehousing and logistics, data centres and IT and ITES-based business will also grow in the region.
Noteworthy here is that Haryana government has already announced that it has plans to develop five new cities spread over an area of 25,000 hectares along both sides of the 185-km KMP and 50-km KGP. Apart from developing these cities as industrial, economic and commercial corridors, residential development is also a part of the plan.
However, the growth is not expected to be overnight, but it may take up to five to 10 years. The result may take another two years for financial closure to start showing.