Indian Property

Faridabad Project

As a city, Faridabad has immense potential for development. A lot of it has already been done while its future prospects are massive. Those looking forward for a long term investment should definitely go for this city. However, as things stands today, many of the investors make this city as their third or fourth option for investment. Reason being: Development in this city started even before Noida but eventually, Noida emerged first. The problem associated with Faridabad was that infrastructure wise, there was no development and it never expanded. Due to poor connectivity, it faced a major challenge as the NH-2 never came under the lens of expansion. It has become too old and is choked with traffic, making it a nightmare to travel across the stretch on Ashram (in Delhi) to Faridabad. Proposed solution: Kalindi Kunj flyover The Kalindi Kunj flyover is nearing its completion that is being done in two phases. The 11 km stretch shall start from Maharani Bagh till Kalindi Kunj in the first phase and shall see its completion till Faridabad in the second phase. With its completion, those heading towards Faridabad from east Delhi, south Delhi and Noida shall be able to use this stretch, thus, avoiding the Ashram chowk, leaving it for the local users. This will be seven kilometers elevation running parallel to the NH-2 till Faridabad. Is Faridabad being under-weighed? The future potential of the city is being undermined by the investors who are also true in a sense that the city has not seen any new development since a long time. In real estate, it is the location and connectivity that spurs the prices of the property and Faridabad had nothing to offer to them on this term. Due to this factor, there was nothing that could change or increase the returns of the investors here. But this does not mean that the city holds no future. In fact, this is the city that has a lot of scope for mid to long term real estate ventures. There has been a price movement with the Badarpur stretch seen improvement along with the metro connectivity that has spurred the sentiments of the buyers. The city is close to Delhi, Noida and Gurgaon and thus its chances automatically stand in good stead. All it requires is the focus of the Haryana government to speed up things which are on paper to road. The positive trend about this area is that here, the developer moves in first and then the development takes place by the government unlike in Noida or Greater Noida wherein it is vice-versa. Which is why, the appreciation model of this city cannot be compared to other cities because at the end of it, appreciation does take place which has boosted the sentiments of the market. As the smart city project of the government nears, Faridabad is the most probable city to gain the tag even beating Gurgaon. Its Neharpur area also called Greater Faridabad holds the major advantage in terms of returns for investors. The expected KMP- expressway connects the city from Neharpur to Delhi and Gurgaon. The area boasts of world class amenities and invites investors with a low entry in the investment cycle to go only up from here, keeping in mind the long term investment scenario. Another area in the city is Surajkund that enjoys similar prospects and has seen appreciation of about 8 to 10 per cent in two years.

Project in Faridabad