With high paced infrastructure development and growing transportation facilities, Faridabad is slowly emerging as one of the best realty locations in the NCR.
Faridabad real estate booms along with widening of Highways.
Faridabad has already become a hot spot for the realty players. Many of the most noted real estate developers of the NCR region have their projects in the city now.
Though the city is facing hard-hearted competition from other neighboring cities like Gurgaon, Noida and Greater Noida, it still has achieved a place among the hot real estate locations in the NCR region.
Compared to other neighboring cities the city is more suitable and demanded by middle income class group. Viewing the increasing population level; in the city Haryana Urban Development Authority has launched a 20 year development plan for the city.
In experts’ opinion the city will be more demanded and the builders will have to develop more residential projects to meet the housing demand. Right now there are many developers like Assotech Ltd, BPTP, Gardenia Group, KLJ Town Planners and many others have ongoing residential projects in Faridabad.
Will Faridabad overtake Gurgaon and Noida? Possibility around the corner.
With the arrival of Delhi-Mumbai Industrial Corridor (DMIC) the city will be all the more developing and sought after. The city will witness more industrial model township projects in the future with the launch of DMIC which is an undertaking of the Central government. The union government will accomplish the project in collaboration with Japan.
Ballabgarh-Sohna Road and Gurgaon-Faridabad Road, etc. provide better connectivity to the city. Besides, the Authority has plans to widen the Yamuna E-way stretch of NH-2 (from Faridabad to Agra) at an estimated cost of Rs.2,945 Cr.
With all these, the residents of the city will experience better connectivity. This improved connectivity is another feature which fosters the real estate sector in the city.
Once the Union Government widens the Delhi-Agra Highway, Faridabad will be well-connected to many areas like Agra, Mathura, Ballabhgarh, Kosi Kalan, Palwal, and many other parts of New Delhi.
Besides the roads and highways, the city is expected to have metro rail. If the metro rail is extended to the city, Faridabad will be highly competent to the other cities like Gurgaon and Noida.