Tag Archives: Faridabad property market

Greater potential of Greater Faridabad

Posted on by Track2Realty
Track2Realty Exclusive

Bottom Line: Greater is not just in the name but having even greater potential when it comes to the property markets of Delhi-NCR. Be it Greater Noida, Greater Gurgaon or now the new jewel in the crown that is Greater Faridabad.

Greater Faridabad, Neharpar, Faridabad real estate, Faridabad property market, Delhi NCR property market, Investment in Faridabad, India real estate news, Indian realty news, Real estate news India, Indian property market, Track2Realty, Track2Media ResearchThe low profile Greater Faridabad has the greartest of possibilities among the Greater extended zones of Delhi-NCR and the reasons are very many.

At a time when the stretching of city limits in the NCR were having issues ranging from land acquisition to administrative and infrastructure bottlenecks, this relatively silent zone of Faridabad, Neharpar area in popular parlance, has been taking giant strides in terms of investors’ choice as the future destination with huge appreciation potential.

Greater Faridabad is not as glorified on the property landscape of Delhi-NCR as Greater Noida or Greater Gurgaon, but still property analysts are bullish over this property market.

Neharpar Area was rechristened as Greater Faridabad in 2004-05 under the city’s Master Plan. The location’s traction point is its sharing boundaries with Eastern Periphery Expressway, which connects with Ghaziabad, Noida, Faridabad and Palwal, making it an industrial corridor.

Though there are infrastructure issues with the region and bottlenecks are a deterrent for big ticket investments, still the proposed developments are poised to make Grater Faridabad grow great in the medium to long term from both the investment and habitation point of view. Today, it is one of the most affordable locations of NCR with unlimited potential of appreciation.

HUDA (Haryana Urban Development Auhtority) is making all efforts to project the market as investment destination and once operational the KMP (Kindly-Manesar-Palwal) Expressway will connect the Neharpar area with Delhi and Gurgaon. A three-km flyover between Delhi and Faridabad which will ease traffic bottlenecks at the Badarpur border has already cleared the traffic bottlenecks in the area. Six-laning of the existing bypass road starting from Badarpur, parallel to the Agra and Gurgaon canals is further adding to its connectivity.

Metro connectivity from Faridabad border to South, East and Central Delhi and various industrial & commercial centres like Badarpur, Tughlakabad, Mohan Estate, Sarita Vihar, Jasola, Okhla Industrial Area, Nehru Place, Mool Chand, Lajpat Nagar Areas, Lodhi Colony, and Central Secretariat will make many of the key locations of Central and South Delhi accessible.

Given all these infrastructure developments and projected developments over the next 2-3 years, Greater Faridabad can be vouchsafed as a promising mid to long term property investment bet. What is all the more interesting is the fact that the area has been witness to a boom from January 2012 when the property market was by and large sluggish in the rest of Delhi-NCR region.

Jagpravesh Khurana, a local broker feels the boom has rather slowed down now due to the sharp and sudden upward movement of property prices, and hence rates are still reasonable and therefore expected to hold. According to him, investors with a horizon of at least five years can expect to see a significant rate of return on investment. In fact, nearly 90 percent of investors into Neharpar are looking for long-term gains and the property market is by and large averse to speculators.

“Property rates in the region are around Rs. 3500 per sq feet and ready to possession property can fetch up to Rs. 4200 per sq feet. Since there is no inventory overhang in the area, analysts feel ROI of 30-40 per cent is quite realistic in this market,” says Khurana.

Nikhil Hawelia, Managing Director of Hawelia Group believes in terms of affordable housing Greater Faridabad has more potential than any other affordable markets of Delhi-NCR. The reason being that it is close to the indistrial belt of Faridabad.

“Greater Faridabad is a case study in how affordable housing markets should be developed closer to economic centres. Over a period of time there might be upscale projects in the vicinity but the very character of Greater Faridabad will not change since premium housing projects are there in the main city of Faridabad,” says Hawelia.

Any property market which has no inventory overhang or resale units can be termed as a very realistic market. Greater Faridabad scores high over this given parameter and if the projected infrastructure developments can be put on the fast track, this location can emerge as the best of the affordable destinations not only in Delhi-NCR but across the country.

Social & physical infrastructure sync in Faridabad

Posted on by Track2Realty
Track2Realty Exclusive

Bottom Line: The USP of Faridabad is its growing social infrastructure that is in sync with physical infrastructure.

Faridabad, Faridabad Property market, Track2Realty, Delhi-NCR property marketWhen Aditi Mishra shifted to Faridabad in 2009, she did not like the place in absence of entertainment and leisure options in the neighbourhood. After having spent good number of years in Gurgaon she was exposed to the lifestyle choices in the Millenium City where social infrastructure is among the best in North India. Faridabad, in contrast, was a sleeping city with only USP of affordable habitation.

However, within a span of seven years she hardly finds any difference and, as a matter of fact, she has started liking Faridabad more than any other part of Delhi-NCR.

“I am living closer to Neharpar area and initially there was nothing in the name of entertainment options. But now I have everything closer to home, be it malls, multiplexes, sports facilities, educational institutes or hospitals. What I like the most about Faridabad is the fact that physical infrastructure is as good as the social infrastructure which makes Faridabad the best city in NCR,” says Aditi.

This fashion designer is not alone in appreciating what till recently was only a sleepy residential zone called Faridabad. As a matter of fact, there are very few property markets across India where the growth of the physical infrastructure has been in sync with the social infrastructure. More importantly, the trend has traditionally been noticed only in the matured property markets which has seen the cyclic highs and lows before getting stability and habitation.

However, Faridabad which has till only recently not been on the top of the mind recall of the developers and the policy makers have now woken up to fast track developments where the social infrastructure is matching the physical infrastructure and together that promises to be taking the Faridabad property on a high growth curve.

Facts speak for themselves. While the District and Town Country Planning has rated Faridabad as high growth potential area with major thrust on infrastructure development, it is not just the real estate developers who have grabbed the opportunity to get the best out of the destination that has to offer. Rather, some of the best educational institutions, medical chains and retail outlets have already found a promising haven in the region.

Today, a number of malls like Crown Plaza Mall, Good Store and Lifestyle being among the major ones have already come up in the area. Added to this, the area now is moving towards holistic development as educational institutions such Echelon Institute of Technology, Apeejay School Faridabad, Palm Beach School for Autism, Modern Delhi Public School and the Institute of Aviation Management have come up over there. Healthcare facilities include Apex Diagnostics and Polyclinic, Kilkari Paediatrics Clinic, Diagno Aide Pathology Lab and Kalra Child Care Centre.

Some of the first movers in the Faridabad market like Omaxe and BPTP have already been benefitted in this city where the price appreciation, though relatively low key in media space, has been phenomenal.

Mohit Goel, CEO, Omaxe agrees to it when he says Faridabad has been witnessing a steady rise in realty prices. Homebuyers have found a liking to the city owing to its affordability vis-à-vis its NCR peers and day-by-day improving connectivity- be it to Delhi or to adjoining cities like Ghaziabad, Noida, Gurgaon, Palwal etc. The two regions that are on the wish list of both investors and buyers are Surajkund Road and Neharpar.

“The development of Neharpar as an affordable destination will help accommodate millions of population in the coming times and provide them access to cheap housing. The Master Plan has laid a lot of emphasis on the infrastructure development of Neharpar. Besides, projects on Surajkund Road, due to its advantageous location (hardly 5 min drive to Delhi), continues to draw premium,” says Goel.

The proposed Delhi Mumbai Industrial Corridor (DMIC) also promises to change the Faridabad landscape opening floodgates of opportunity. The DMIC stretch that touches Faridabad-Palwal is poised to open floodgates of economic opportunities with world class infrastructure at the doorsteps of Faridabad.

Well, there is no denying that Faridabad has scaled up fast on the given parameters of property appreciation and social infrastructure. Moving forward, some big ticket infrastructure projects are in the pieline and to supplement that there is growing social infrastructure. Collectively that makes Faridabad one of the best bet for investment.