Faridabad, the largest city of Haryana, seems to have everything working in its favor lately. The city caught the eye of real estate developers when the space for development in Delhi started to diminish to a larger extent. When growth started to take place around the outskirts of Delhi, Faridabad also got the much needed attention.
The main reason for the growth of Faridabad’s real estate industry is its excellent geographic and political setting. Located exactly in the middle of Greater Noida, Noida, Delhi and Gurgaon, the city offers hassle free connectivity to all popular parts of the National Capital Region. The city had immense potential to rise as a real estate hub but was not utilized properly. In order to capitalize on this potential, several builders like SRS, BPTP and Omaxe have come up with their housing projects in Faridabad. Sector 77, 80, 87, 88 and Surajkund are some popular realty destinations in Faridabad.
Click Here For Current Property Price Trends in Faridabad
In August 2014, the property prices in Faridabad were recorded at Rs 4,643 per sqft. However, the graph saw a steep fall and the rates came down to Rs 3,800 per sqft. in September. After that the prices remained quite stable till May 2015. It was only after that that the rates started to increase again. The current price in Faridabad, as reported by the price trends report of Investors Clinic, is Rs 4,162 per sqft. The prices in Nahar Par locality ranged between Rs 3,803 per sqft. and Rs 3,466 per sqft. and remained quite stable during this period. In Sector 80-89, the property rates saw good appreciation during December 2014.
Experts are of opinion that the coming time for Faridabad real estate industry is going to be a good one. If you invest your money now, it is extremely probable that you will get excellent returns in the future. The development of several mass transit systems and Delhi Metro connectivity is making the place even more popular with the real estate developers. Roads like the Gurgaon-Faridabad Expressway and the Faridabad-Noida-Ghaziabad Expressway further improve the connectivity. A number of MNCs are expressing interest in putting their offices in Faridabad. In the next 10-15 years, the city will transform into a bustling commercial hub surrounded by luxurious residential development.
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