The success story of Haryana’s urban planning has so far revolved around the city of Gurugram, which has become synonymous with state-of-the-art commercial and residential property development in North India. However, as growth in demand has led to land shortages, rising prices and infrastructural limitations in existing market centres, the future of growth lies outside these traditional centres. Panipat city, famous for its cultural and infrastructural richness, has become a township centre. This transformation of Panipat has resulted from a confluence of strategic factors including location, economics, infrastructure and the emerging dynamics of consumer behaviour. Parvinder Singh, CEO, Trident Realty, exclusively shares with The Times of India why the city has become a real estate hot spot. PlacePanipat’s revival starts with geography. Located about 90 kilometers from the capital, along NH-44, the Delhi-Chandigarh highway, the city occupies an attractive sweet spot, close enough to tap into the economic engine of the NCR, yet far enough to offer the kind of affordability that the metro markets had given up years ago. Its neighbors reinforce this advantage. Thus connectivity to Sonipat, Karnal and Kurukshetra has transformed Panipat, making it an integrated urban node within the wider NCR influence area. Better train connectivity and upcoming infrastructure projects will only reduce travel time, bringing Panipat into Delhi’s orbit for a section of professionals, entrepreneurs and families.Panipat is also known for its dense ecosystem of handloom and textile industries, refineries and export-oriented businesses, earning it the nickname ‘Textile City’. Furthermore, the steady influx of entrepreneurs, industrialists and skilled workers has created a steady demand for housing ranging from affordable homes to premium residences. In recent years, a clear change in this demand profile has emerged. Local entrepreneurs and high net worth individuals are opting for plots, independent floors, luxury apartments and gated communities. This change in housing choices is a result of rising incomes and changing life aspirations among these people. People are no longer looking at residences, they are looking at a holistic product, which now includes wide internal roads, green spaces like parks and landscaped areas and club houses etc. as essential parts of the product rather than luxuries.

development of planned communitiesIntegrated townships are reshaping the essence of residential living in Panipat. Backed by some of the most prestigious names in the real estate industry, these new age integrated townships are bringing modern planning and design concepts to a market hungry for them. Wide internal roads, lush green landscape, club house, security, gymnasium and swimming pool are some of the new amenities now available to customers in Panipat.These developments represent a complete deviation from traditional trends in housing layout. The earlier housing schemes have been replaced by self-reliant housing concepts in these newly developed integrated townships. The phased pattern of development plotted followed by independent floors, group housing societies and commercial spaces is ensuring a planned pattern of urbanization in Panipat. The self-sustaining nature of these developments is not a product upgrade, but a paradigm shift in customer expectations. Customers in Panipat are no longer just looking for a home, they are investing in a new lifestyle. Mobility and open space are not a luxury; Those are the requirements.value-driven developmentPanipat’s real estate market is known for its strong value-to-value proposition. Although this is compared with established NCR centers like Delhi, Gurgaon and Noida, property prices remain relatively more attractive. This is not a weakness but a strength. With development and increasing catchment, the property rates will increase significantly. Investors will not only enjoy the capital gains that will come from future appreciation but will also get an adequate residence space at a comparatively affordable price range. Another strength here comes from connectivity, as the development of the KMP Expressway has reduced the distance to Panipat from the NCR region. Apart from this, the plan to build expressway and RRTS will further reduce the travel time.At the ground level, Panipat’s strong industrial base maintains a consistent rental demand. Regular factory workers, professionals and students maintain good occupancy rates, especially for well-connected neighbourhoods. This provides a unique opportunity for investors to earn regular rental income and see value appreciation on investment. These aspects make Panipat an ideal property destination in NCR.a city at a crossroadsBeing classified as a smart city definitely gives a big boost to the city’s future plans. The focus on urbanization and improving infrastructure has made Panipat’s development as an organized city inevitable. Panipat has come to a critical juncture where it can take decisions based on its geographical location, economic stability, development and emergence of townships. This means that Panipat can move away from its industrial image and move towards an urban city.