Opportunities Galore in Faridabad Property Markets

By: George Gonigal

Known for its industrial base, Faridabad is among a hot property destination in the national capital region, as well. With a number of real estate developers launching group housing projects in the Nahar Paar area, it has also emerged as a residential hub. A major reason why those looking to invest in property in Faridabad should consider these new sectors is that prices here are among the lowest in the whole NCR.

While its connectivity improves with the other NCR locations, Faridabad will be a preferred and an affordable destination for property buyers, moving toward same direction Delhi Metro Rail Corporation (DMRC) has approved the extension of metro linkage from Badarpur to Faridabad and when the Taj Expressway is built, connectivity between the new sectors of Faridabad, Noida and Greater Noida will improve.

Another highway is planned which will begin from Kalindi Kunj, run parallel to Mathura Road, and bypass the city. This highway will girdle all the new sectors, and will merge with Mathura Road on the other side of Faridabad. By reducing travel time to South Delhi, this highway is also expected to provide a fillip to property prices in Faridabad's new sectors. This will also have a salutary effect on the prices of real estate.

There are various projects lined up for infrastructure boom such as BPTP SEZ come up in 54 acres at Faridabad, DLF is in talks with Escorts to acquire its surplus 200 acres land assets. The key players in the development movement of Faridabad are BPTP (the largest player which owns about 1,500 acres spread over 11 sectors), Omaxe, RPS, Realtech, Triveni, Shiv Sai Infrastructure, California City, KST and SRS, among others.

BPTP will be introducing residential projects in Faridabad which will have a price tag of Rs 40-50 lakh. BPTP has a 1,400 acre land bank in Faridabad and says volumes can be created according to the price. Mumbai-based multiplex chain Inox Leisure will launch its four-screen multiplex in Faridabad.

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