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Faridabad: Emerging Property Investment Hub of NCR

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Faridabad: Emerging Property Investment Hub of NCR

The city of Faridabad stands different from the other neighbouring cities in the NCR regions, by having a perfect blend of social and physical infrastructure for a long time now.

Faridabad-Smart-Ciity-Project

 

To give an example, a person named Adit Mishra, a fashion designer, moved into Faridabad way back in 2009. At first she had the shock of life. The city was never even a bit close to Gurgaon, where she had lived earlier, in terms of infrastructure. She felt like having gone for the wrong choice. But, surprisingly, after seven years, she is literally feeling quite happy that her shift was a "blessing in disguise". She hardly finds any difference between the two cities.

Aditi lives in proximity of Neharpar area. Previously, there were no entertainment outlets or options available. Now, the city has grown by leaps and bounds in every possible angle. There are malls, shopping centres, sports arenas, hospitals, educational institutions etc. The physical and social infrastructures play a vital part in developing this city to make it the best in the NCR region.

Social infrastructure

Very rarely would you see a city in India where there is an unblemished blend of physical and social infrastructures. Such improvements can be noticed only in mature property markets and these markets would go through several difficulties before getting stabilised.

According to the Department of Town & Country Planning, Faridabad is one city that has a massive amount of potential for growth. The government is making emphasis on the infrastructural development often. Many shopping complexes such as Crown Plaza, Lifestyle etc, have stemmed up in this area. Likewise, educational institutions such as Apeejay School Faridabad, Echelon Institute of Technology, Modern Delhi Public School, Palm Beach School for Autism and the Institute of Aviation Management are present here which clearly defines the quality of this city. Health care facilities such as Apex Diagnostics and Polyclinic, Kilkari Paediatrics Clinic, Diagno Aide Pathology Lab and Kalra Child Care Centre are very much in place.

See also: Greater Faridabad: A case study on affordable housing destinations. The attention of real estate developers has slowly shifted to this city because of developments happening in a full swing. To give examples, Omaxe and BPTP have moved into this area and gotten properties appreciated very substantially.

Affordable price points

Mohit Goel, CEO of Omaxe, explicitly says that Faridabad has had a steady increase in property price in the recent past. There are growing numbers of buyers wanting to settle in here because of the likelihood of many developments in the near future. Moreover, the city is close to Delhi and other cities such as Gurgaon, Palwal, Noida etc. There are plans to develop the city of Neharpar in a very significant manner. Along with it, there will develop an opportunity for the city to provide affordable housing units to people. This will invite a huge number of people to the city in a short span of time. Goel’s project on the Surajkund road will definitely have a very good appreciation in the future.

The proposed Delhi Mumbai Industrial Corridor (DMIC) that is proximate to Faridabad-Palwal, will bring a lot of opportunities for business and improve the standard of living of people. On top of that, there will be a lot of industries coming up in the near future to improve the economic condition of the city and provide employment opportunities to a huge number of people.

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