What was a mere Rs.555 per sq ft in Sonepat ten years ago is today about Rs.3,900 per sq ft to Rs.4,500 per sq ft. The real estate market in this part of Haryana has boomed at an extravagant rate. Sonepat was nowhere to be seen on the real estate map of the stakeholders as well as the builders until TDI, Ansal API and Tulip acquired land to build their projects in this city which was dull in terms of development and agricultural thoroughly.

The winds of change started in the year 2003-04, when the builders started acquiring lands from the farmers in Kundli and gradually gave a facelift to the location while entering Sonepat. Colonies were in a very bad condition then and the migration rate was also quite high. There were no proper roads, water or power supply until the real estate majors took hold of the situation. After the mentioned real estate builders came in, others too followed the suit and changed the lifeline of the city. Today, Property in Sonepat/ Kundli has emerged as the hot spot for real estate development but not faring better than its cousin Ghaziabad.

The price of property in Ghaziabad today stands at Rs.3,000 to Rs.6,000 per sq ft and is one of the top contender of Uttar Pradesh among its set of 13 smart cities selected by the Modi government. Ghaziabad is primarily an end user market but its inclusion in the smart city list does not mean that buying property in this region today shall fetch you great deals. Things will change and it will take time for the preference of the stakeholders to shift towards Ghaziabad.

Commenting upon the ongoing slump period in the real estate market, Ghaziabad has the second highest unsold inventory after Greater Noida. There are no takers for Apartments in Ghaziabad given its high crime rate. A survey by the top real estate research firm Colliers show that amongst the five NCR cities- Gurgaon, Noida, Faridabad, Greater Noida and Ghaziabad- Ghaziabad is the least preferred location for residential purpose. Faridabad emerged as the most preferred destination while Gurgaon, Noida and Greater Noida stood almost on the same pedestal.