After the realty boom witnessed by Noida and Gurgaon, it is now time for Faridabad to emerge as the new real estate hub. The National Capital Region of Faridabad is experiencing a change of image and is moving away from being just an industrial town to being a residential township also. Investors can find plots of land, villas, independent floors and flats in Faridabad. All types of residential property in Faridabad are expected to see high appreciation in the near future. The following article will discuss about reasons to invest in Faridabad.
There has been a perceptible progress in Faridabad’s real estate market over the past few years. The evolution can be credited mainly to the upcoming residential projects that have been established in the Neharpar area, which is also referred to as Greater Faridabad. And since the requirement for housing accommodation has increased, the capital values have also seen a moderate rise.
Faridabad’s development has been rather rapid. It will soon be linked with New Delhi by a metro and with all the commotion the property market may further see improvement. The area is being deemed as the ideal real estate location for investment as its realty market is yet to take a leap, so all potential investors with long-term investment plans can park their funds here. In the next five years, Faridabad would be a highly developed conurbation. There following are the factors which will together enhance the likeability of Faridabad.
The Metro rail line will be a boon for commuters and the biggest factor contributing to the growth of the area. It has already reached Badarpur and is likely to reach Faridabad by the closing of 2013. Once the project is finished, the Faridabad-Gurgaon toll road and the Faridabad-Noida-Ghaziabad or FNG expressway will enhance the prospects of real estate appreciation for investors.
New developments and modern facilities
Faridabad initially started out with only plotted projects, but today there are villas, condominiums, independent floors and residential flats for sale in Faridabad. Providing residential options to the different social strata, many real estate developers are coming up with housing projects that offer a plethora of modern facilities.
There are provisions for indoor and outdoor leisure activities and games, along with parking lots, swimming pools, gymnasiums, jogging tracks and health clubs. Such attractions are drawing many youngsters to invest in Faridabad.
Until last decade, the residents of Faridabad were forced to travel to Delhi, Gurgaon and Noida to shop for brands. However, with the recent boom of retail real estate, Faridabad is fast catching up fast with other NCR regions. Now there are nearly a dozen shopping malls on Delhi-Mathura road. There are several recreation spots, including Sohna Lake, Surajkund, Dabchik Lake and Badkhal Lake in the vicinity.
Young couples form a huge chunk of real estate investors today. With all sorts of conveniences and modern facilities being provided along with malls, well-connected markets, and other entertainment centers, Faridabad is gaining traction as a sought-after residential destination. It would be a wise decision for those who have invested to hold on to their properties for higher returns.
The steady and affordable Greater Faridabad
When it comes to affordable property, Greater Faridabad or Neharpar is the first name that comes to mind as a prime location in Faridabad. The area is closer to Delhi and has easy connectivity to nearby areas, offers favorable growth opportunities and has developing infrastructure, due to which it has managed to become a coveted real estate destination offering good growth. From sector 75 to 89, the region is well-linked with Delhi, Noida, Ghaziabad and Gurgaon.
Author bio: Devika Arora has been writing resourceful articles for the avid readers who wish to learn more about Indian real estate. The above article by Devika discusses about Faridabad and its real estate market. Ample research has been done in order to compile the given data and present an overview of the area.