Kundli real estate is bustling with activities. The commercial industry is hyper active with malls, office complexes, industries, SEZs and industrial parks all ready to be set up in the region. Brix Research tells you why.
The Kundli-Manesar-Palwal (KMP) expressway has already been a path beaker in the real estate scenario of the city. There have been number of notable developments along the expressway. These include the Rai-Kundli Multi-Functional Complex, which has an
Global business corridor
Reaching new heights the proposed 135-km state of the art “global business corridor” to come along KMP expressway is likely to add-on to the already growing commercial real estate of Kundli. The business corridor is expected to further boost the residential segment. It is believed to see a huge demand for residential property from the workforce to be employed by companies on the corridor. According to industry reports, the corridor will also attract large influx of foreign investment of over Rs 2 lakh crore and generate a large pool of job opportunities. Some Japanese and European companies are already showing huge interest to establish their operation centers on the corridor.
Industrial and office space
The demand for office space in Kundli is growing with number of MNCs and IT companies venturing into the city. About 65 lakh sq ft of office space is likely to be on hand for IT companies in the next 2-3 years. Meanwhile, a second refinery has been announced at Panipat, which is expected to accelerate the development of this region.
Organised Retail
The retail like the industrial and residential segments is also growing immensely. Most of the new projects are mixed-use developments. Mapsco, Krishna Artec, Express Builders, DD City, TDI Group is all coming up with residential cum commercial township projects. A shopping complex called Roman Court Shopping Complex is also on the cards.
Mall culture like any other part of the country has gripped Kundli as well. Quite a handful of malls are on platter in Kundli by renowned real estate developers.
Mall Count
CMD Mall
AMR Shopping Mall
TDI Mall
Rodeo Drive Mall
Parker Mall
Future Outlook
Though Kundli is witnessing massive development on commercial front there is lot more to be done before it can be termed as a real estate destination. According to M K Mishra, real estate agent operating in Kundli the value of commercial properties in Kundli is reported to be around Rs 4, 000-6,000 per sq ft.
25 acres of land has been allotted to DLF and Anant Raj Industries in Kundli for developing IT parks. The total constructed area of the projects is 51 lakh sq ft and 32 lakh sq ft respectively.
There is also a massive 20,000 acre multi-product SEZ in the pipeline being developed by Unitech group. Food processing, auto-components and textiles are some of the industries that will be set up within this SEZ.
Currently, the market is going through a slowdown phase. But, the proposed IT Parks, SEZs, malls and other ongoing infrastructure developments are expected to bump up Kundli’s economic prospects. These developments are anticipated to generate more employment opportunities. Further, all this will escalate the property prices in Kundli to new heights.
Value chart
| Commercial unit type | Capital value (Rs/ sq ft) |
| Office space | 3,000-5,000 |
| Shop | 3,000-6,000 |
| Industrial land | 15,000-20,000/sq yard |
Source: Brix Research
Source: Times Property (31st August’08)
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