Faridabad is the
largest city in Haryana. It enjoys a good strategic and geographical location
owing to its close proximity to the major cities in NCR – Gurgaon, South Delhi
and Noida that has helped enhance its economic possibilities as well as the
city’s real estate market. There is no denying the fact that Faridabad has been gaining the
attention of a lot of real estate investments, well thanks to land shortage in
Delhi.
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| Courtesy: Net |
Real
estate trends in Faridabad
Due to the
construction of numerous properties, the realty market in Faridabad will be a
significant one. The shortage of saleable land in Delhi and its neighbouring
cities as well as the exorbitant land and housing prices in Gurgaon and Delhi
has made Faridabad the major attraction for investors now. With the industrial
and commercial real estate markets in Gurgaon already reached the skies,
Faridabad is now under the scrutiny of the real estate developer.
Ideal
localities for investment in Faridabad
A lot of
investors are eyeing Greater Faridabad or Nehrapur. Nehrapur boasts of world
class amenities and facilities with the Kundli-Manesar-Palwal Expressway
connecting the city with Gurgaon and Delhi and with the ROI touching one
percent every quarter and the sale of residential units increasing by 11% every
quarter. Vast acres of green spaces in Nehrapur are another persuading factor
to invest here. Those who want to buy residential apartments in Faridabad are considering Nehrapur.
Surajkund also enjoys similar prospects. The commercial real estate of
this place is booming. Besides Surajkund, another area that is developing is
Dayal Basti. This locality is experiencing a fine price appreciation of 5 %
quarter-on-quarter. It is in close proximity to Ballabgarh and NIT and houses
good hospitals, schools and colleges.
Most residential properties for sale in Faridabad tend to be small and medium sized projects. Several
luxury projects are also available. Faridabad is easily one of the most
affordable realty markets in NCR. In fact, there are more end users compared to
investors; however, this may change in the future owing to upcoming projects by
Mahindra and BPTP. The real estate market in Faridabad is dominated by middle
class people and the construction quality also remains mid-grade. There are a
few above average constructions as well. Hence, Faridabad is an ideal location,
wherein the middle income users can invest their savings.