By Accommodation Times News Services
Just 90 km away from Delhi on NH-1, lies the ancient and historic city of Panipat, touted to become the next boomtown of Haryana. If one is to believe real estate connoisseurs, Panipat is an absolute goldmine for developers and investors.
Property prices in Panipat have been rising prominently for the last couple of years. The place has carved out a substantial niche among the first few fast flourishing cities and is witnessing continuous development on the basis of its upcoming industries.
With several commercial projects in pipeline, Panipat promises to give quality commercial spaces. The city certainly shows a lot of potential in varied aspects. And, Panipat commercial market happens to be one of these key facets.
There is a proposal to develop an Industrial Park in and around Panipat. It envisages pushing the growth of down stream industries. Add to that, it boasts of providing conducive environment and an array of facilities to the citizens.
Then, there is the mall culture growing at the fast pace. The phenomenon of the shopping mall has captured the Panipat retail market to a new and higher plane of reference. DLF is soon to give shape to its forthcoming project, two exclusive shopping malls in Panipat. The real estate giant has already acquired land, ranging between 100-200 acres in the city. Shivam Realters is coming up with its proposed ‘City mall’ in Sector 12, HUDA, Panipat. The mall will spread over 2500 sq. mt plot. Featuring separate food courts, entertainment zone, ample parking space, pipe music, and other facilities, the mall boasts to set an example for other upcoming retail developments.
While these upcoming malls in Panipat commit remarkable catering to exclusive requirements, they are not likely to fail for the factors that identify the true character for which these malls will be celebrated. Such developments clearly show that there has been an ongoing process of rendering a major face lift to Panipat, which has inspired many real estate developers to invest in Panipat real estate.
Boom in residential property market is being complimented by increasing influx of funds. With more prospective investors foraying into the city, industry watchers are confident for Panipat to emerge as the next real estate hub.
Parsvnath Paliwal City, a residential project, to be set up by the renowned Parsvnath Developers with an investment of Rs 235 crore and will have all the facilities including schools, multiplex, shopping malls. The townships will also have plots and group houses. Another major development is Golden Gate; a 10 acre mini township is to be built by the BEST Group.