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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Faridabad > Faridabad FLAVOURS
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Old April 30 2007, 12:52 PM   #1
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Default Faridabad FLAVOURS

Understanding the dynamics of the expanding real estate sector in India is no rocket science. Perennially exploiting greener pastures, it is currently obsessed with Tier II and III cities.
Till some time ago, Faridabad was a sleepy town, oblivious to the need for growth and lost amongst the crowd of other sub-cities in the National Capital Region (NCR). While the twin towns of Gurgaon and Noida witnessed a flurry of real estate activity with heightened interest from real estate developers, Faridabad remained slow. Faridabad is currently witnessing a lot of real estate development.

This can be primarily attributed to the easy availability of land here, as compared to Gurgaon or Noida. Prices too are comfortable, for both the end-user and the investor The scenario in the property sector has undergone a vast and unexpected change over the past 24 months, with land rates jumping about six to 10 times.

Faridabad was known as the Manchester of India due to its tremendous industrial growth during 1960-80. In the Final Development Plan of Faridabad, a total of 38,744 acres of land has been proposed as the total urbanisable area out of which HUDA has so far developed 12,363 acres. Private colonisers developed about 3,400 acres by 2005.

According to the Department of Town and Country Planning, licenses for approximately 2,400 acres of plotted/group housing were applied from the middle of 2005 to the end of 2006. Out of 86 applications received from private developers to develop residential colonies, more than 75 per cent have been granted licenses from the government while the rest are being processed. HUDA has so far developed 56,073 residential plots including 20 per cent plots for the weaker sections and 5,350 industrial plots.

Faridabad is still growing. It is not only one of Delhi's suburbs but also a city in its own right with a population crossing over two million. And a large number of affluent middle class are attracted to the city. The market will mature faster than Gurgaon or Noida. However, developing Faridabad into a world class city will require co-ordination between the private sector and government agencies.

HUDA is developing Sectors 1-65, the newly formed Sectors 66-91, spread over 7,800 acres and earmarked as the R zone (residential land use) are being developed by private builders. Present perfect The city currently has a huge town park and 20 sites for shopping malls. Eight hospitals and seven colleges have already been constructed and HUDA has recently advertised the allotment of six hospital sites. The government has already approved sites for CNG stations.

In the development plan for 2021, which is under preparation, better transport facilities such as a dedicated bus corridor, cycle tracks and better pedestrian pathways will be included. Faridabad has long been plagued by problems of water, power and physical infrastructure. Coupled with an indisputable down-market tag for years, Faridabad's real estate prices refused to budge from ground zero. However, promising developments seem to be in the offing. Recently the city received a grant of Rs. 2,500 crores which will help tremendously in its growth.

A two-kilometre flyover has been announced at Badarpur, which will reduce a major part of the traffic chaos. Moreover, with the Western Peripheral Expressway linking Palwal, Manesar, Kundli, Faridabad, Noida and Ghaziabad, inter connectivity between these towns will increase. The upcoming Metro rail should also help.

The main commercial corridor, the Mathura Road stretch, is being developed into a shopping and entertainment corridor. RITES has begun work on the flyover at the Badarpur border. The Taj Expressway will touch Faridabad at Lalpur and go on to meet NH-2 at Shahpur. It will improve Faridabad's connectivity with Noida. Another highway is being planned at Kalindi Kunj, the three-laning of the Faridabad-Gurgaon road, and the widening of the Surajkund road are providing a much needed impetus to the realty growth. An international airport too has been proposed at Jhewar, and a power plant is being planned on the Palwal-Sohna road.

 
Old January 13 2012, 09:37 PM   #2
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5 yrs and most of the development for Faridabad is in place

rohit
 
Old January 13 2012, 09:41 PM   #3
 
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when will the work of sector roads in neharpar start?
 
Old January 14 2012, 12:27 AM   #4
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when will the work of sector roads in neharpar start?
On the day sun will rise from the west.
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Old January 14 2012, 12:35 AM   #5
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5 yrs and most of the development for Faridabad is in place

rohit

Looks like you love faridabad more than your GF.
 
Old January 14 2012, 01:12 AM   #6
 
 
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Hi
Greetings

Well for now the new DC did promise Tenders by mid Dec11 and NIT already out. This is again like being blinded due too a bright spark while the light is supposed to pave the path forward. This is again to be blamed on builders like BPTP and lax attitude of the administration..

BPTP has been ranked as the worst builder in NCR on the dwarka expressway projects survey, based on real life inputs by aggrieved customers. https://docs.google.com/spreadsheet/...5hVEE&hl=en_GB

Hopefully, connectivity issue with announcement of tenders for bridges would see some news. This would bring true value to the area.

Finally, metro is not known to have serious goofups like delays etc and all the lines till date have been delivered on or before time.. The metro extention into Faridabad would provide a convenient alternative to the EMU and would give another shot to RE in Faridabad, possibly by 2014.

Major acquisition and development work for the Industrial area would add shine and bring in migration if some serious industry crops up here.

The Nuclear Power plant would provide employment to 10s of 1000s directly and indirectly once things go on stream..

All in all, citizens need to continuously take grasp of situation by getting official information through RTIs to find any inconsistencies favouring builders (licenced and illegal) as well to keep a check on the official machinery which has till date caused 100s of crores worth of loss to homeseekers due to delays and non possession. All unauthorised colonies should not be allowed to be authorised and those which are at initial stages, serious actions be taken against such unlicensed colonies which find customers because well planned and authorised colonies are not being developed.


Cheers
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Old January 14 2012, 02:29 AM   #7
 
 
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Hi
Greetings

Suruchi... tum bahut achi ho.. bahut achi bhawna rakhti no.. aapme suruchi hai faridabad ko grow karwane ki.... but unfortunately.. infact I dont wanted to say this but Faridabad has gone to dogs actually.. there are some rubbish builders like BPTP who have not let this area grow.

I am so sorry but the dreams that you have been showing cannot come true because of them.

Cheers
 
Old January 14 2012, 06:32 AM   #8
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Hi
Greetings

Suruchi... tum bahut achi ho.. bahut achi bhawna rakhti no.. aapme suruchi hai faridabad ko grow karwane ki.... but unfortunately.. infact I dont wanted to say this but Faridabad has gone to dogs actually.. there are some rubbish builders like BPTP who have not let this area grow.

I am so sorry but the dreams that you have been showing cannot come true because of them.

Cheers
arre bhai ye 5 saal old thread hai just pulled up to show that things are on track - there are too much expectations and thus comes the frustration - the day when I wrote my first check for Gr Faridabad I knew that it would be 2013 before that area would be livable -
check that customer complaint site

its been a welcome surprise that few projects have gone for delivery and people have started living there - I still maintain that My System shows that 32 lakhs paid for 300 sq yd elite floor woould be valued at 96 lakhs by end of 2013 - 3 times in 4 years odd is not a bad return -

rest all is just perception like "RIL is best stock" for last 3 years it has eroded investors money even when markets did make new highs in oct - nov of 2010 -

rohit
 
Old January 14 2012, 04:42 PM   #9
 
 
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Originally Posted by rohit_warren View Post
arre bhai ye 5 saal old thread hai just pulled up to show that things are on track - there are too much expectations and thus comes the frustration - the day when I wrote my first check for Gr Faridabad I knew that it would be 2013 before that area would be livable -
check that customer complaint site

its been a welcome surprise that few projects have gone for delivery and people have started living there - I still maintain that My System shows that 32 lakhs paid for 300 sq yd elite floor woould be valued at 96 lakhs by end of 2013 - 3 times in 4 years odd is not a bad return -

rest all is just perception like "RIL is best stock" for last 3 years it has eroded investors money even when markets did make new highs in oct - nov of 2010 -

rohit
Hi
Greetings

Returns of elite floors are fantastic and those on plots also are not bad..

Issue is if possession would have been offered on time by BPTP the valuation of entire land bank of BPTP would have been at least "double" the current valuation.

I do not have anything favourable about BPTP as a company, its professionalism, its customer service and definitely a lot negative about the management thought process and unnecessary -ve goodwill earned by the management.

Not only they have lost face but are also struggling to get finances at reasonable rates. Kotak is the worst bank in terms of lending money and only an option of last resort..

Abhi bhi kuch nahin bigda.. if the projects at advance stage are delivered without any STUPID charges and in an ethical manner and good finishing.. a lot of growth potential awaits..

Internal sector roads are manageable only liveable conditions, in terms of sewerage, water supply, electricity needs to be arranged which indeed is a standard part of any township.. Where from out of the blues have they thought of charging for STP and Substations?? That too after 6yrs of launch.

Jub township launch ke thi tab nahin pata tha ke sewereage treatment or Substations ki zaroorat hoti hai?? Bewakoof bana raha he din dhade.

.. At least 50 NRIs/Endusers in my knowledge, who have withdrawn from their investment in projects being launched/under launch by BPTP due to their own very very bad and unethical image and extremely poor customer service..

Cheers
 
Old January 14 2012, 05:36 PM   #10
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Not only they have lost face but are also struggling to get finances at reasonable rates

get your facts right they are in the process of buying back the stake of morgan stan for 180 crores - they got a proceeds of lease rent of 270 crores from their corporate office building.

They are flush with cash and don't worry with markets stablising IPO would be offered and they would overflow with money.

I have worst reputation on IREF but everyone in their heart knows about the facts which came true and were posted by me much before they have happened.

bptp is working right - in 2008 everyone got thrashed as no one was prepared - princess park is worst of the projects because of its highest loading - its angular design creates problem - otherwise I am yet to see any real negative feedback on their underconstruction or delivered projects.

they have outsourced the construction to bl kashyap one of the best contractors - I ask everyone who has a doubt to go and check -

every project is motorable even today - yes the big picture is yet to come but think once that happen then people working in gurgaon would prefer that because of 28 km of smooth drive virtually traffic jams free.

anyways my stakes are now limited there but I don't like thrashing anyone without reason.

rohit
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