Baghpat attracts real estate developers and property buyers
Baghpat is slowly but surely waking up to it’s largely unfulfilled potential as a real estate hub offering affordable housing. The area has largely been a victim of lethargic government policies but close proximity to national capital new Delhi and equally good connectivity to other regions of Haryana including Sonipat, Palwal and Kundali, Baghpat offers good upside for real estate developers and investors alike.
The easy availability of vast open spaces has attracted a large number of real estate developers to buy large chunks of land. The biggest and the most well known realtor in Baghpat is the Mahavir Hanuman Group, popularly known as MHG. Mahavir Hanuman Group has various residential as well as industrial real estate development projects currently underway. One of the most successful realty ventures by MHG includes the its 100 acre township built along with National Building Construction Corporation (NBCC) offering more than 10,000 apartments at low costs.
The project has been very well received and its vibrant success has forced other real estate developers to focus on affordable housing segment rather than luxurious segment. There has been a huge market for affordable housing in the NCR region and the supply has been far lower than the demand. The success of MHG Township in Baghpat could be the first step in uncapping the immense potential of the segment in Baghpat. Other popular real estate development in Baghpat has been the land acquisition of 2,700 acres by the UP Awas Vikas Nigam. The project is aimed at developing residential, commercial as well recreational hub in Baghpat under the flagship Manniya Kanshi Ram Awas Vikas Yojna.
On the downside, some real estate experts feel that Baghpat may still lag in terms of real estate projects as most builders are adopting a wait and watch strategy. The region may finally open up to more development once other more lucrative areas like Sohna in Gurgaon, Indirapuram in Ghaziabad and parts of greater Noida have reached their potential. The easy availability of land and good connectivity to Delhi may turn the tide in favor of Baghpat feel others. No matter which way the wind flows, Baghpat has a good upside as a long term real estate investment.
