Faridabad, an emerging real estate hotspot in Delhi-NCR
Faridabad, a major industrial hub and the largest city of Haryana, is now considered to be the booming real estate hotspot. The city has been witnessing enormous development in physical as well as social infrastructure. The prevailing lower rates of properties is attracting most of the working population for long term investment as well as for buying a house.
Various infrastructural developments happening in the city have made Faridabad a booming economic warehouse. The fast industrial growth and infrastructural development in the city has led to vast growth opportunities for real estate sector. The workforce of industries located in and around the city drives in major demand for residential projects in Faridabad.
Location advantages:
Being located at 25 km from Delhi, Faridabad is emerging as the preferred destination for long-term investors. The Delhi-Agra National Highway No.2 (Sher Shah Suri Marg) passes through the centre of the city. The land scarcity factor in Delhi has given way to fast development and rising property prices in NCR region.
Good connectivity:
Faridabad is in proximity to Delhi, as well as Gurgaon. Adding to this, many other projects for the improvement of its connectivity are also coming up. This is another important aspect which attracts end users, investors and corporates to choose Faridabad real estate.
Many areas around Faridabad can be easily accessed through the NH-2. Also the proposed expressway that links Palwal, Manesar, Kundli, Faridabad, Noida and Ghaziabad will provide interconnectivity among various satellite towns. The Delhi Metro Rail Corporation is extending the metro rail service to the city as well. The proposed Metro rail-link and modernization of Mathura Road will further add to the prospects of this town.
Infrastructural development
Many infrastructure development projects have been proposed by the Haryana government. An industrial model township (IMT) on the lines of Manesar is coming up in Neharpar, Faridabad. Central government has proposed Delhi-Mumbai Industrial Corridor (DMIC), 1,483 km-long mega infrastructure project in the vicinity. Many such projects are boosting the demand for residential, commercial, institutional and entertainment projects in Faridabad region.
Many road projects are coming up to improve the connectivity of the city. A 66 km-road project on a high-density traffic zone, which involves four laning of Gurgaon-Faridabad Road and improvement of Ballabgarh-Sohna Road on Build-Operate-Transfer basis. Widening of Yamuna Expressway stretch of NH-2 (Faridabad to Agra), upcoming monorail connecting Gurgaon-Faridabad, 1,483 km long Delhi-Mumbai Industrial Corridor (DMIC) and improvement of the Ballabhgarh-Sohna Road are also in the pipeline. The Delhi Agra Toll Road Pvt Ltd (DATRL) road (180 km) that starts from Badarpur Border and ends before Yamuna bridge in Agra is also coming up.
Real estate development
Residential properties in Faridabad are affordable compared to cities of National Capital Region (NCR) such as Noida, Greater Noida and Gurgaon. Growing infrastructure, improving connectivity and industrial growth have been driving the demand for properties in Faridabad. In the last ten years, both commercial and residential real estate of Faridabad have been flourishing. Demand is growing mainly in the luxury realty segment.
Even though the city offers certain geographical advantages and good connectivity, the properties in Faridabad have been priced low. But nowadays, the situation is likely to change with the entry of private players. The proposed Metro and other infrastructure projects are believed to enhance the prospects of Faridabad further. The Haryana government is investing crores of rupees over ‘cluster development planning’ in the city. The recently approved Faridabad Master Plan, 2031, will play a key role in bridging the demand-supply gap.
Leading real estate developers such as BPTP, Ansal Group, TDI, Omaxe, Era Landmarks,and many others are developing many mega projects in this region. BPTP Parklands Pride Sector-77, BPTP Elite Floor Sector-76, BPTP Park Grandeura in Sector-82, Princess Park Sector-86, etc are some of the important projects in Faridabad.
Neharpar in Faridabad is witnessing huge development in terms of real estate. It is spread across sectors including Sector 75, 76, 81, 82 and 85.
The peripheral micro-markets of Gurgaon, Noida, Greater Noida, Ghaziabad and Faridabad, have seen a steady increase in average prices during the Oct-Mar 2012-13 period, compared to the same period in the previous year, states Knight Frank report. Faridabad realty market alone has shown stable demand. Around 65 percent of the absorption has been in the affordable housing and mid-segment housing, with a ticket size less than Rs 25 lakh and in the Rs 25-50 lakh bracket.
Besides being an industrial hub, Faridabad is also emerging as a commercial destination. The city has already witnessed around 8-10 percent appreciation in the past two quarters in terms of commercial realty market. The demand for commercial space in faridabad has increased by almost 40 percent during the past one year and is still growing. Several IT/ITeS companies have already been planning to set up their branches in Faridabad, as it is much affordable compared to Noida and Gurgaon.
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Faridabad is in more demand for property,jobs,location and all other things.Everybody want to invest their whole lifestyle in the center of natural beauty as well as high-class. Faridabad is the perfect place to live and invest.
NRI residency sector 45 This project is enveloped by delicious greens and is beyond from city noise & pollution. All this, that too at a very affordable price.