Faridabad Ncr’s Hot Realty Destination

There are three major suburban township in NCR namely Gurgaon, NOIDA and Faridabad. While Gurgaon and NOIDA have shown some correction trends in prices, Faridabad property rates have jumped up by 20% to 25% during last few months. This development assumes weightage due to the proximity to Delhi and well connectivity by rail, road and planned access by metro in the near future.

As per the statement of Mr. Kabul Chawla, MD, BPTP, „During the past, scenario, of real estate market in Faridabad had been somewhat dull but has shown good potential in last one year. This could be possible due to entry of big builders in Faridabad and government’s interest in building a strong infrastructure. In fact urban and social infrastructure clubbed with well habitation have been the driving factors in increasing real estate prices in Faridabad.

The above views have also been endorsed by Mr. Anuj Puri, Chairman and country head of global real estate consultancy firm Jone Lang LaSalle Meghraj (JLLM). Faridabad has now become an ideal locality for long term investors and that is why big builders like Oman, BPTP, Ansals, Uppal, DLF, Realtech & API are fastly coming up with residential and commercial projects. The main reason behind this fast development is that Faridabad is quite near to Delhi as also flanked by Gurgaon & Noida but rate of properties are comparatively cheaper than Gurgaon & Noida and people who are serving in Gurgaon & Noida may make Faridabad their ideal residences.

BPTP’s mega integrated township in Faridabad spread over 1500 acre of land is the biggest township in NCR and is within easy reach of masses and therefore is in great demand.

Rakesh Garg, director business development & sales, Uppal Housing (who have recently launched their premium group housing project in Sector-86) is of the opinion, „Porperty rates in Faridabad have increased by 15-20% and even then one can easily buy 3 BHK flat upto Rs. 30 lac as against the sky rocketing prices in Gurgaon, Noida & Greater Noida“.

Morever, Faridabad is an industrial hub of Haryana which consists around 400 large scale units and 10000 small scale units where in commercial and retail activities are on the increase day by day. Nevertheless infrastructure needs to be further developed on priority if Faridabad wants to maintain its attractiveness.

But as per the views of Mr. S.K Sayal CEO Alpha G Corp. „Infrastructure such as airport, roads, public amenities including water etc can seriously thwart economic growth as a whole including Faridabad if the timely measures are not taken to rectify the situation before cropping up such problems which may ultimately impede real estate development and economic growth.

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Source by rehan