Rashmi

Faridabad, the industrial city of NCR, is now emerging as the preferred destination cities for investors as the prospects of a boom is in the air, with the encouraging growth and opportunities that was witnessed in the Gurgaon and Noida.

As Faridabad enjoys similar geographical and infrastructural benefits, there is a wider scope for Faridabad to prosper as the next happening destination of the NCR. Only recently has this third satellite town of the National Capital Region gained their resurgent interest and is fast catching up as the next hot destination. A slew of residential and commercial projects by well-known developers are on the anvil.

Appreciation in Faridabad has been no different from other NCR areas. Last year, it ranged from 40 per cent to about 110 per cent. It is the residential sector which is attracting investors as well as the actual users currently working in and around Delhi and looking for a house because of the high prices in Delhi.

Aadesh

Yes. You are abosolutely right. With Delhi’s population today at 1.5 crore, and another 40 lakh people live in the rest of the NCR; there is a lot of demand for residential and commercial spaces.

So far Faridabad was perceived as an industrial township. Either the rich lived here or the poor. Only now is the middle-class beginning to move in. And it is the only place in the NCR where you can buy a three-bedroom apartment for Rs 40-50 lakh.

Connectivity which was a slight hitch in its development is soon to be over as a 2 km flyover is under construction which will take care of the Badarpur traffic bottleneck. Another highway is being constructed which will begin from Kalindi Kunj, go around the newly demarcated sectors of Faridabad, and end at Palwal. Hence, traffic that does not have to go into Faridabad will bypass the city altogether, thereby decongesting Mathura Road.

Rex

Its fair enough, that Faridabad is on the roads to development.

But buying a property is not a small time investment. Are there are enough reasons why investors should make a choice to invest in Faridabad, when Gurgaon and Noida are beaming with opportunities.

Moreover, what would be the chances of price appreciation of Faridabad properties. I believe there need to be more light thrown into this. Anybody can help???

srikant

Commonwealth games are believed to be acting catalyst for realty development in the areas surroundings to Faridabad thereby contributing to real estate boom. Often, such mega events encourage the government to spend extra bucks to improve infrastructure in a time bound manner. Whatever be the reason, it is certainly going to give a push to property rates. If the location is good, even purchasing at a higher price will give you returns better than your cost price.

Most investors look upon Faridabad properties as affordable and this has resulted in booming of real estate Faridabad. Being in proximity to the Capital and NCR, Faridabad property holds great value especially to working professionals. So go ahead………..

vimal

After Gurgaon development plan, it is Faridabad next to witness its makeover. All issues causing hurdles for this ambitious Rs. 2,200 crore City Development Plan (CDP) have been cleared thereby ensuring a smooth passage for upcoming improvements.

The Union Government, State Government, and Faridabad Municipal Corporation have entered into a tripartite agreement on 22 December at a meeting in New Delhi. This makes the city eligible to receive the financial aid from the Urban Development Ministry and the state government for bringing a mark improvement in its infrastructure over the next few years.

Crisil India Limited was entrusted with the responsibility for designing the development plan. And, the detailed project report is prepared by National Building Construction Corporation (NBCC), a government of India undertaking.

Faridabad City Development Plan will aim at optimizing breakthrough alterations in infrastructure and civic amenities, sewer system, street light, sanitation, storm water drains, roads, solid waste management, and water augmentation for a projected populace of 26 lakh by 2035.

Faridabad is lucky enough to be the only town in Haryana included in the Urban Renewal Mission for the spatial development. As for now, development schemes catering to the demanding infrastructure needs for 91 Urban sectors and 41 Revenue Villages will be taken into prime concern as the work at priority.

Also, the government is focusing on upgrading living standards of slum dwellers, says N.K. Kataria, superintending engineer, Faridabad Corporation. This industrial town holds the dubious distinction of being one of the five cities which has the maximum population of weaker sections, staying in around 60 illegal colonies and slum clusters.

However, the real estate biggies like Omaxe has contributed a lot in improving the image of Faridabad by incorporating a multitude of high class projects both residential and commercial.

Is Faridabad's land really yielding ? If yes, then what will be its future in current fiscal?

sunilpal

I am real estate consultant. and seeing the market from last more then 5 years. In this time i have seen many ups and sometime down in the market. as the market is stsblished now. and rates are not going up like the past years. People specially those are not involved are asssumuing that prices will not hike and they are afraid for investment. But the fact is market is still underprice specially faridabad.
in whole over the Delhi-Ncr region. Faridabad is the only place where the property rates are approximately half then other region. I want to give you an coparison about the rates.
Noida:
Plots Min.Rates Flats Min Rates
40'000 3500/- per sqft
G.Noida:
30'000 2500/- per sqft
Gurgaon
50'000 3500/- per sqft
Indrapuram
35000 2800/- Per sqft
Only in faridabad you can buy plots at Rs.10000-110000/- per sqyds. and flats are still available at Rs.1600-1700/- per sqft
These are the rates of greater faridabad. which is only 1.5 kms away from possch sectors: 14,15 where the plot rates are minimum 30000 per sqyds.

what experts are expecting the rates will go increased by 200-300% within next 3 years of time.
So investors don't hesistat in investing the dream city.

Regards,
Sunil

sammy_ana

hi everyone,

planning to investment in 100- 200 sqm plot either in new developing areas of greater noida, faridabad or jaipur and wanna hold for next 4 years. what should be the best place - where return on investment is highest?

thanks

kpmurthy

Can anyone inform me how is above property. Its a good buy. How is BPTP on their commitment. They will give possession in 2012