Real estate sector in Haryana accentuates the scope of growth as the state is laden with several opportunities for people of India in terms of employment. The hub of IT and manufacturing firms and organizations from other sectors, Gurgaon is the centre of attraction of the state. As millions of people are shifting to the state in search of work and settle down here, the requirement of residential properties is increasing. In this regard, the government of Haryana has become remarkably active and is implementing various ways to put the things in place.

Not long ago, in this year in March CII (Confederation of Indian Industry) along with Haryana Government organised Happening Haryana Global Investors summit that welcomed senior government officials, investors, Government officials from higher designations and local business community. The summit was organised at Hotel Leela, Ambience Mall, Gurgaon on March 7^th and 8^th.

It is constructive that there was no impact of violence and protests by Jat community on the real estate business arena. Although, it was suspected that the real estate value in Haryana will be impacted due to Jat quota agitation because of the property of worth Rs. 35,000 Crore was destroyed and 30 people were killed. The overall impact of the violence was extremely negative and created an adverse situation across the state. The entire Jat community demanded reservation and used protest as a weapon to get the approval for the same.

Well, the objective of the summit organized in March this year was to bring investment opportunities in the state by recognizing the achievements of those who belong to other states and are settled in Haryana. The summit was aimed at focussing that the real estate sector needs to engage non-residents in the state which in turn will lead to further development and growth of Haryana.

Haryana Government signed 357 MoUs worth 5.84 lakh crore investment. The value was much higher than the government had expected. The renowned real estate icons including Ireo, M3M, Puri Constructions, Jindal Realty, Vatika, Omaxe also signed the MoU along with Haryana Government. Of all these firms, M3M signed three MoUs worth 45,365 crore and became the largest investor.

Rs. 9000 crore from the total amount will be spent on affordable housing under Pradhanmantri Awas Yojna while Rs. 8000 crore for other real estate projects and Rs. 26,000 crore will be invested for the model of the smart city in Gurgaon. Jindal Realty Pvt. Ltd. is to develop four projects in Kurukshetra and Sonepat with the investment of 1800 crore.

Another real estate giant Supertech that has developed numerous projects in Haryana has decided to invest Rs. 5,706 crore and will develop townships and low-income housing or affordable housing projects.

According to experts, if the projects presented in the two-day summit get materialised, it’s going to be a positive move for the state of Haryana. Experts also suggest that the government of Haryana needs to take constructive steps forward to get the showcased projects materialised within the promised time frame.

Real Estate analyst Santosh Sinha says “The MoUs signed by the real-estate companies, along with the government’s move to establish Real-Estate Regulatory Authority, promises to revive the property market in the state, provided the state authorities effectively streamline the official procedures and ensure transparency. This will go a long way in building confidence amongst the investors and assuring the builders of sound returns”

During the event, Haryana Chief Minister Manohar Lal Khattar along with many union ministers pledged to accelerate socio-economic, infrastructural and industrial developments in the state of Haryana.

Union Defence Minister Manohar Parrikar emphasized that entrepreneurs should invest in the state to take their businesses to the next level. It will also add to the growth of the state in both ways, infrastructural as well as economic. Haryana is undoubtedly a productive state for industrial investments owing to the proximity to the capital city, the hub of industries, connectivity, workforce and better scope of technology.

Union Finance Minister Arun Jaitley mentioned that saturation has captured the entire Delhi and Haryana has a wave of possibilities and opportunities. Further to this, Manohar Lal Khattar added that the total investment of 1,28,000 crore will also be considered for the districts that are not covered in NCR.

Sudhir Rajpal, the Managing Director of the Haryana State Industrial and infrastructure Development Corporation (HSIIDC) asserted that fast track clearances are in place to get the things done at the earliest. “The developed land out of the existing land bank will be made available to the signatories of the MoUs to ensure early implementation of these projects,” he added.

He also mentioned that MoUs is being converted into actual on-ground investments through the experienced relationship managers that are specifically hired for this very job. The MD also emphasised that an online portal has been deployed by HSIIDC to keep the people updated with the availability of new plots with a few clicks.

Chairman of Godrej Group, Adi Godrej said “We have seven real-estate projects in Haryana and look forward to have more in the near future. We are very optimistic about our real-estate investments.”

Vice Chairman, DLF Ltd., Rajiv Singh stated “We will invest more than Rs 20,000 crore in the next 5-10 years,”. He added that the state of Haryana is a destination that opens doors for an ultimate development.

Senior Vice-President of Raheja Developers, Harinder Dhillon “The commissioning of the Manesar-Palwal section of the KMP project will also boost the property market in the Gurgaon, Sohna, Dharuhera, Faridabad and Palwal belt. The successful completion of the Dwarka Expressway will also brighten the prospects of the realty industry in the Gurgaon zone,”

The infrastructural development in the state is expected to see rapid growth and development in the coming future. Real estate market in Haryana is slow as of now, though, he continued.

At the summit, Union Minister for Urban Development Vankaiah Naidu maintained that two major cities of Haryana including Faridabad and Karnal were selected to come in the list of Smart Cities. While the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) will cover the other eighteen cities of Haryana.

In the trail of all positive initiatives, Union Railway Minister Suresh Prabhu stated that the Rail Coach Factory project will be taken a step forward and Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan that the ministry will bring new improvements to the Panipat refinery.

This is how the Happening Haryana Global Investors summit showcased the positive sides of the coin and accelerated the pledges, decisions, promises and determinations in favour of the state. If the government proceeds this way, the state is going to be a piece of creamy layer in the country.