As infrastructure continues to develop and more industries establish their presence in Rohtak and Bahadurgarh, the demand for both residential and commercial properties is expected to rise further.
The real estate market in Haryana has experienced significant growth in recent years, with an extraordinary increase observed in various regions, including Rohtak and Bahadurgarh. Consequently, these two swiftly-developing cities have become the center of attention for both prospective homeowners and investors, owing to their advantageous locations, improving infrastructure, and promising prospects for the future.
In addition to the rising costs of residential and commercial properties, plot prices in these cities have also escalated rapidly, rendering these areas especially appealing for individuals looking to capitalize on the flourishing real estate market.
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Current Market Trends
According to a recent report, during April to June 2024, housing prices in India have grown significantly, with Delhi-NCR leading the way. The national average has recorded a growth of 12% in housing prices, whereas Delhi-NCR has achieved an impressive 30% increase.
Following this trend, the rising land prices in cities such as Rohtak and Bahadurgarh reflect a robust and expanding market.
Udit Jain, Director of ONE Group Developers, remarked on the situation, stating, “The upward trajectory is expected to persist, especially in regions like Rohtak and Bahadurgarh, where there is significant spatial limitation for accommodating plots in adjacent sectors. Even under conservative projections, it can be anticipated that plot prices in these areas may increase by as much as 50% compared to current rates within a year, thus presenting a prime opportunity for investors to consider.”
Rohtak: Rising City
Rohtak is often referred to as the ‘Heart of Haryana’. In recent years, the city has undergone significant transformation. Its proximity to Delhi, coupled with its emergence as an educational hub, has accelerated its growth and development. Consequently, the real estate market in Rohtak has responded favorably, with plot prices exhibiting a consistent upward trend, noted Jain.
Early investors who recognized the potential of Rohtak have seen their investments multiply. In certain prime areas, plot prices have surged by over 30% in just the past year, and industry experts anticipate further increases in the coming year due to the steadily rising demand.
Jain said, “OneCity has already launched two projects in Rohtak, totaling more than 1,000 units. Additionally, the company successfully completed a project in Bahadurgarh within an impressive timeframe of 18 months, alongside the implementation of the Deen Dayal Jan Awas Yojna.”
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Bahadurgarh: The Next Big Thing
Another noteworthy location for real estate investment is Bahadurgarh, situated on the western edge of Delhi. This city benefits from significant locational advantages due to its proximity to the Delhi-Rohtak highway and its inclusion in the National Capital Region, which has fueled its growth.
The recent extension of the Delhi Metro to Bahadurgarh has enhanced its attractiveness, making it a compelling choice for both investors and end-users. The surge in plot prices in Bahadurgarh has been remarkable, transforming areas once deemed outskirts into prime real estate. Over the past few years, plot values have appreciated significantly. Additionally, the speed of development in the city is impressive, with some projects being completed in as little as 18 months.
Factors contributing to the rapid plot price appreciation in Rohtak and Bahadurgarh:
1. Infrastructure Development: The advancement of essential services such as the road network, public transportation systems, and other civil utilities has significantly progressed in both cities. This is particularly illustrated by the Kundli-Manesar-Palwal (KMP) Expressway and the Delhi-Bahadurgarh Metro line, which are recognized as transformative projects for the area.
2. Industrial Growth: The establishment of industrial zones, accompanied by the introduction of manufacturing units, has resulted in the generation of numerous employment opportunities. This, in turn, has spurred an increased demand for housing as well as for small and medium-sized commercial enterprises.
3. Institutes Campus: Rohtak has emerged as a prominent educational center, with a substantial increase in the number of colleges and universities. The region now attracts a diverse student population from across the country, contributing to its vibrant academic environment.
4. Value for Money: Despite a significant rise in property prices, both Rohtak and Bahadurgarh remain comparatively more affordable than the capital city of Delhi and Gurgaon, making them appealing options for first-time homebuyers and investors.
5. Government Policies: The growth of these cities has been significantly supported by various government initiatives and policies aimed at urban development. Notably, the Deen Dayal Jan Awas Yojna has played a crucial role in promoting affordable housing within the region.
The Road Ahead
The remarkable increase in plot prices over the past few years has been noteworthy; however, experts assert that there remains potential for additional growth in the market. As infrastructure continues to develop and more industries establish their presence in Rohtak and Bahadurgarh, the demand for both residential and commercial properties is expected to rise further. The real estate markets in these two cities are notably diverse, presenting a variety of opportunities for various investors.
“The escalating property prices in Rohtak and Bahadurgarh present a prime opportunity for investors seeking to capitalize on the burgeoning development in this area. Certain regions in these cities have experienced returns as high as 30% over the past year, with forecasts indicating potential growth of up to 50% in the upcoming year. This suggests that it may be an opportune time to consider real estate investments in these areas,” said Jain.
The ongoing urbanization and the increasing demand for affordable housing options in and around Delhi are likely to sustain strong property demand in these cities. Although the initial surge in growth may have subsided, there remains an opportunity for those who have not yet invested to capitalize on this success. Specifically, Rohtak and Bahadurgarh present significant potential for substantial returns on investments made with careful planning and strategy over the next few years.
