Property prices soar as Kharkhoda becomes new industrial hub of NCR

Kharkhoda, which used to be a sleepy township in Sonepat district of Haryana till a few years ago, has emerged as the latest hub of industry in the National Capital Region (NCR).

Thanks to the rapid industrial growth in the area, the land prices in Kharkhoda, Kundli and the adjoining villages have skyrocketed in the recent past.

The dimensions of the tremendous boom in property prices can be gauged from the fact that the agricultural land, the market value of which was in the range of Rs 70 lakh to Rs 1 crore per acre around four years ago, now sells for up to Rs 10 crore per acre.

The boom was triggered with the setting up of the Maruti-Suzuki plant at the local industrial model township (IMT), which will be the world’s largest car-manufacturing plant on completion with a capacity to produce up to 10 lakh cars annually.

The foundation stone of the Maruti Suzuki plant at the IMT in Kharkhoda was laid by Prime Minister Narendra Modi on August 28, 2022, through video-conferencing. The government has given 900 acres to establish the plant, which is Maruti’s third manufacturing facility in Haryana after Gurugram and Manesar.

Residents hope that the plant would usher in a new era of development in the area on the lines of Gurugram and Manesar.

“It is a big project for our area. Along with the Maruti plant, a number of ancillary units have also come up in and around Kharkhoda, due to which the land prices in the area have escalated,” says Ishwar, a resident of Khanda village near Kharkhoda.

Those in real-estate business maintain that the prices of land have seen a substantial hike with the enormous industrial growth, with a number of residential and commercial sites being developed in Kharkhoda and nearby areas.

“The price of agricultural land has shot up ever since the establishment of the Maruti plant at Kharkhoda. This has translated into the rise in the rates of residential and commercial property. The state government is also playing an instrumental role in the development of the area by building new roads, highways and an orbital railway corridor to improve connectivity,” maintains Manoj Bahl, a real-estate developer.

Apart from Kharkhoda, Kundli township, located on the GT Road in Sonepat district, has also emerged as a major industrial centre.

Kundli has also become a popular location in terms of residential as well as commercial property due to its location and connectivity with the national capital.

The residents point out that a number of industrial units have also come up near Auchandi border connecting Haryana and Delhi, which is about 10 km from Kharkhoda.

“The entire belt has undergone a complete metamorphosis in terms of development during the past few years. Industrial growth is good as it improves the economy and generates job and business opportunities, but the larger concern of environmental conservation should also be kept in mind by the government as well as the industrialists in the larger interest,” observes Harish Chander, a resident of Kharkhoda.

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