Greater Faridabad: steady and affordable - Fighting stiff competition with other areas of the NCR (National Capital Region) in terms of affordability, Greater Faridabad also known as Neharpar, is emerging as a prime location for someone looking for affordable housing in proximity to Delhi. The area due to its favourable growth opportunities, improving infrastructure and fast connectivity with other parts of NCR, has managed to carve its identity as a real estate destination that offers good growth. What is ensuring the good growth? Starting from Sectors 75 to 89 of Faridabad, Greater Faridabad is well-connected to Delhi and suburbs such as Gurgaon, Noida and Ghaziabad. Currently, the area is about 30 km from Delhi and about 50 km from Gurgaon. “The underway infrastructure such as the KMP (Kundli-Manesar-Palwal) Expressway will connect Greater Faridabad with Delhi and Gurgaon. Also, the six-laning of the existing bypass road, that starts from Badarpur, and the flyover between Delhi and Faridabad, which will ease the traffic at Badarpur border, is about to be complete,” says Deepak Narang of Home Solutions. Apart from this, the metro construction is also underway. This will improve the connectivity from Faridabad border to South, East and Central Delhi. Stating another reason, Narang says, “Greater Faridabad offers multi-storey housing societies which the developed Faridabad does not offer. Majorly, the developed Faridabad has plotted development. Also, most of the projects in Greater Faridabad are ready for possession”. BPTP Ltd, Omaxe, RPS, SRS and Era Groups are few developers present in the area. Is it a good time to buy? Experts say, Greater Faridabad offers new amenities in the projects at affordable range. Prices here are affordable due to the drop in values witnessed in developed Faridabad in the last one year. Narang says, “This has held back the price appreciation of Greater Faridabad as well. You can buy property within Rs 2,500-4,000 per sq ft in the area”. Adding to his opinion, Kapil Vashist, an owner of the property in the area says that prices are steady in the area due to the upcoming General Elections. People are holding back their properties and not re-selling as they expect the price to go up after the elections. “Therefore, looking at the major infrastructure development, buying a new property right now can prove fruitful in the future,” Vashist adds. Source: M.B. / Sep 12, 2013
Posted on: Mon, 16 Sep 2013 05:13:29 +0000
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