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Faridabad – Property Market

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By : amar yadav    99 or more times read
Do you want to have your own property in a prime location of India and which must be away from the hassles of metropolitan cities? If yes, then you are most welcome to purchase or rent properties in Faridabad that is a NCR city.

Faridabad is most commonly known for its base of industries, but it is emerging out to be one of the hottest property destinations in the NCR as well. It is one of the emerging cities of India that is why properties are selling at a quick speed. Last year has also seen it emerges as the favorite destination of property investors.

Due to affordable property in Faridabad and easy availability, the real estate of the region is booming. Proximity to Delhi and Gurgaon has also raised the value of properties in Faridabad among working professionals, and the corporate world has also shown interest in Faridabad real estate.
As the research reveals, Faridabad is going to be a most happening city in NCR region so, the asset’s prices and rents of property are gradually on the rise. It is a suitable time to invest in properties of Faridabad because; the prices are constantly rising.

Residential properties, rental properties in Faridabad; real estate or commercial properties in Faridabad are the perfect place to invest. Asides these, the construction quality of real estates in Faridabad are also very good. Residential Projects like 'The Forest' by Omaxe Real Estate Developers is a prime example of posh residential development in Faridabad.

If you are keen to invest in properties in Faridabad, then you can search through Internet for finding world class builders, constructors, promoters, real estate agents and brokers for availing you the ultimate real estate solution and best property deals at affordable rate. According to a report, because of affordable housing projects one can witness huge absorption of the same.

Also With the approval of metro linkage to Faridabad from Badarpur and the building up of Taj Expressway, the connectivity of the area will definitely improve and it is going to be one of the most affordable and preferable destinations in near future. Another highway is planned which will begin from Kalindi Kunj, run parallel to Mathura Road, and bypass the city.

Residential real estate values have increased in the posh sectors of Faridabad especially Sectors 14, 15, 16, and 17, in the range of 20-40 per cent in the last ten months, according to reports. For instance, the residential plot capital values in Sector 14 have increased from Rs 25,000 per sq. ft, in May 2007 to Rs 35,000/sq yard in February 2008.

Brokers attribute the increase in these values to the fact that the occupancy levels are high at 70-80 per cent and these sectors are buoyant with many transactions in real estate happening, and the values increasing at regular intervals. Plus these areas are better provided with infrastructure facilities like water, electricity, drainage, sewerage etc as compared to other sectors.

Co-operative Group Housing Society (CGHS) values have been more or less stable in Faridabad from August 2007 to February 2008 with the average apartment capital values being in the range of Rs 2600 – Rs 3600/ sq ft. These CGHS allotted apartments and are under various phases of construction. Values are expected to rise after completion of construction, once these are ready for possession within a year.

Property values have been stable at Sector 55, 64 and 65 with the average plot capital values being in the range of Rs 15,000 – Rs 20,000/ sq yard. These all are HUDA sectors where development is very high.

Rental values have increased marginally in the last ten months but there has been no significant transformation. Rental values are more or less same in the previous months and fall in the range of Rs 7,000- 12,000. This is because most of the people are renting residential apartments and plots rather then taking home.

The city has been targeted by some well-known developers like Omaxe, BPTP, Ansal, Uppal, API, and DLF Group, who are coming up with commercial office space in Faridabad. Ansal ‘Crown Plaza Mall’ located in Sector 15 is a popular shopping mall. It houses PVR Cinemas and has multiple-brand showrooms.

The capital prices of residential and commercial properties in prime areas have reportedly gone up by 25 per cent in the past 18 months, although the same have been stabilizing for quite some time now. Owing to incredible growth in Indian economy; economic development, infrastructure, foreign investments and related business opportunities concerning real estate in India is experiencing the roar.

This boom in real estate is further built up by the relaxation of FDI in various sectors that include real estate, construction sector and also retail which has unlocked the doors for the commercial real estate sector in Faridabad.

Apart from manufacturing industries, BPO and ITes companies have found a niche in Faridabad. Property in Faridabad offers manifold business opportunities. There are about 15000 small, medium and large industries in this complex providing direct and indirect employment to nearly half a million people. The combined turnover is estimated to Rs1500 billions in Faridabad itself.

Nothing could be better than renting commercial property in Faridabad. Not only one of the main and highly established cities of Haryana, Faridabad is also one of the most developed cities in the NCR of Delhi. Commercial scenario in Faridabad has developed at an unbelievable rate and is still on the moving ahead.

There are a lot of Commercial projects that are under progress in Faridabad. Local as well as national realtors are investing in the commercial property in Faridabad. These commercial projects are as huge and as elegant as the residential projects that are coming in the city. There are many shopping arcades and malls, which are functional now and many are in the pipeline. All this makes Faridabad, a city with unbeatable style of living and also a very favorable destination for buying a property.

Faridabad always had the potential of being an important centre for real estate activity and with so many attractive residential and commercial projects coming up; it is soon going to be one of the most promising investment destinations of India.

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