dewakar

Faridabad is emerging as a hot destination for real estate industry for investment after Gurgaon and Noida in the NCR.

With several housing projects lined up by private and government builders in the pipeline, the city is likely to undergo a revolution of sorts in the retail marketing and entertainment sectors. While a dozen shopping malls had been under construction, the city is likely to have more than 40 such spots over the next few years.

While over 30 malls are in line over the next few years, at least half a dozen are either near completion or under construction. At least three such buildings have applied for the NoC from the fire department of the Municipal Corporation, Faridabad. Three to four malls are likely to be thrown open to public over the next few months according to some local sources.
According to District Town Planning (DTP) and the Haryana Urban Development Authority (HUDA) office, 31 sites were allocated by HUDA in these sectors.

Some of them had already been auctioned while others were likely to be sold through this manner in near future. Some of the sectors, which already got a site sanctioned for the malls include sectors 12, 20A, 20B , 31 44 and 47. The two existing multiplexes have been located in Sector 12 and 15A.
At least two such spots are nearing completion in Sector 12, the main commercial and institutional sector of the city.

About seven sites of the multiplex have been given license by the department in the R- Zone area where several housing projects are under process by private builders. This zone has been located across the Gurgaon and Agra canals and is closer to Greater Noida in UP.

rchopra

Source: Tribune, India.

Faridabad, the leading industrial hub of north India, may not be posing a serious challenge to neighbouring Gurgaon, the millennium city in overall development, but it certainly is trying hard to create a niche in certain ways. This includes emergence as a hot destination for real estate development and investment after Gurgaon and Noida in the NCR.

With several housing projects lined up by private and government builders in the pipeline, the city is likely to undergo a revolution of sorts in the retail marketing and entertainment sectors. While a dozen shopping malls had been under construction, the city is likely to have more than 40 such spots over the next few years. There are two multiplexes in the city at present.

'The first multiplex, thrown open nearly five years ago, is located on the main Mathura road or National Highway 2. It had generated a lot of interest, says Rajkumar, a resident.

He says there had been a huge rush of locals for several months all together until a second mall came up in Sector 12 a year later.

Residents, who hail from middle and upper-middle class, had little choice than to visit New Delhi for shopping and family outing, he claims. Two such spots here had made many young couples hang around in the evenings though a majority of the visitors here had been serious shoppers, due to high-end prices of the products, he says.

However, there had been many, who had found a good alternative to shop for grocery and household articles after the start of super stores at these malls.

They had been claiming that the prices, including those of vegetables, were lower than a traditional shopkeeper. "Shopping for many items in the super stores here has been easy and satisfying," claims Sangeeta, a housewife.

While over 30 malls are in line over the next few years, at least half a dozen are either near completion or under construction. At least three such buildings have applied for the NoC from the fire department of the Municipal Corporation, Faridabad. Three to four malls are likely to be thrown open to public over the next few months, says an official.

According to District Town Planning (DTP) and the Haryana Urban Development Authority (HUDA) office, 31 sites were allocated by HUDA in these sectors.

Some of them had already been auctioned while others were likely to be sold through this manner in near future. Some of the sectors, which already got a site sanctioned for the malls include sectors 12, 20A, 20B , 31 44 and 47. The two existing multiplexes have been located in Sector 12 and 15A.

At least two such spots are nearing completion in Sector 12, the main commercial and institutional sector of the city.

rchopra

Chandigarh, June 5 (IANS) The Haryana government Tuesday approved in principle a proposal to set up a European Technology Park with an investment of nearly Rs.15 billion ($372 million).

The park, approved by the Haryana investment promotion board, is likely to be set up on 500 acres of land at Manger village in Faridabad district adjoining national capital New Delhi.


Chief Minister Bhupinder Singh Hooda said that the project is expected to attract European companies to establish their high-end research and development units in the field of biotechnology, pharmaceuticals and other scientific fields.


He said the project will bring foreign direct investment (FDI) worth billions of rupees in the state.


The proposed park will have different areas for commercial activities, a residential zone, an academic campus and entertainment facilities.


Nearly 200,000 people are likely to get direct and indirect employment with the establishment of the park to be set up in a phased manner in seven years.


The park will be a joint venture between the Haryana Industrial and Infrastructure Development Corporation (HSIIDC) and a Dutch-Haryana business consortium formed last year during Hooda's visit to The Netherlands.

funtoosh

But i seee faridabad as almost developed and space left
there are mechanical industries which have taken all the space
and also huda sectors