Chopra, signed for £500,000 by the Bluebirds from Newcastle last summer, is to discuss personal terms with Black Cats manager Roy Keane.
"I am sorry to see him go, everybody in the camp is," City manager Jones told the South Wales Echo.
"But at the end of the day there is a price for every player. The money could go on to make us stronger.
"This is good business for us and after all, we are in a business.
"And for Michael it means Premiership football - we cannot stop him. We wish him all the best with Sunderland."
Keane has been tracking a new source of goals all summer but has failed to persuade England internationals David Nugent and Alan Smith to move to Wearside.
Now he has turned his attentions to Chopra, who weighed in with 22 league goals for the Bluebirds in 2006/7.
City's promotion challenge faded midway through the season, just as the Sunderland charge began, despite Chopra's net-bulging exploits.
Two of his strikes came in front of Keane at the Stadium of Light in a 2-1 Cardiff win in late October.
And after just one season in Wales, Chopra is set to return to his native north-east, with Sunderland's bid apparently triggering a release clause in the improved contract the 23-year signed in April.