Metro booster shot for Kundli

The recent green signal to metro till Kundli will not only improve connectivity of the area with nearby Delhi areas like Pitampura, Ashok Vihar, Civil Lines, Rohini, Punjabi Bagh, Shalimar Bagh etc, but will also be a shot in the arm for the real estate market here that has been stagnating for the past several years. Nitesh Kumar, COO TDI Infracorp Ltd., whose group has a land bank of over 1250 acres in the area and several projects under-development,  talks about the current property market scene in this industrial town and how Metro link will add to the liveability quotient of this area. Excerpts:  

 

Metro connectivity to Kundli will change the real estate scenario in this area and will attract numerous investment opportunity as commuting from Kundli to Delhi and other parts of NCR will become hassle free. Metro is one of the most popular and convenient modes of public transportation in Delhi-NCR, and real estate value of areas that have been connected through this has increased manifold as connectivity is a major consideration for homebuyers. Besides this  Kundli has a vast variety of affordable options for homebuyers and several projects with world class amenities. So, more end users will gravitate towards this micro market. 

 

Affordability, connectivity, and huge infrastructure development are the key drivers. Upcoming Metro project which will connect Kundli to Delhi through Dilshad Garden-Rithala Route via Narela, KMP and KGP Expressways, the 5,000 acre integrated education campus at Rajiv Gandhi Education City and Rapid Rail Transit System are playing a significant role in making Kundli a better investment destination for residential as well as commercial real estate.

 

The realty growth of any region depends on infrastructure development. In case of Kundli this factor has played a major role in the slow growth as many projects get delayed due to unfortunate circumstances like non-completion of KMP and KGP expressways. But in spite of  all this while the real estate market of entire Delhi-NCR is facing a slowdown, Kundli is a micromarket where a reasonable amount of transition is happening. There is good movement in residential as well as commercial real estate. With the expansion of the metro network, the state government’s effort to develop infrastructure and expedite the old projects, focused approach of builders to construct more affordable housing options, the real estate story of Kundli is much better than that of any other realty destination of NCR. 

 

Price in built-up and plotted development is much less than that in the neighbouring residential destination of Delhi. Currently the built-up price is between Rs 3500 to Rs 4500 per sq ft depending on the location while plotted price is Rs 20,000 to Rs 25,000 per sq yard.

 

TDI Infracorp is the premier developer in Kundli with over 1,250 acres of land bank. We have developed many residential, commercial and retail projects in this region. This year we are going to handover almost 5 million sq ft built-up area and 1 million sq yard plotted development to our esteemed buyers. We will be handing over possession in our Italian-themed Tuscan City project. In this city 2.1 million sq ft built-up area will be handed-over to buyers while in TDI City My Floor and Kingsburry we are going to hand over .5 million sq ft. In TDI City in Panipat also the company will hand over more than .5 million sq ft of residential area to buyers. 

In Sonepat  TDI is completing its Magnificent project Espania Heights, an excellent example of opulent Spanish luxury and going to provide 1.9 million sq ft built-up area to the buyers. TDI Infracorp will also handover 1 million sq yard residential plots in TDI City Panipat and TDI City Kundli. In this year we are also going to hand over .7 million sq ft commercial or retail spaces.

 

Currently we are developing a very unique lake-themed township LakeGrove in Kundli. This project has been designed by renowned architecture firm HOK from London. After completion of Phase-1 TDI Infracorp will expand this project as TDI has huge land bank over 1,250 acres here. We are also coming with some retail and commercial project in this region.