From being a poorer cousin of Delhi to becoming a prominent region in the NCR witnessing large scale real estate development, Faridabad has come a long way in the past five years or so. Without doubt, it being a part of the NCR has had a significant role to play in the current property boom in Faridabad. The city's proximity to the national capital Delhi has contributed greatly in the fast paced real estate development in Faridabad.
Faridabad Real Estate - On the Road To Rapid Growth
After Gurgaon & Noida, Faridabad shows the most potential for high real estate growth in the NCR. Faridabad is already an industrial hub & there are many big and small industrial units clustered around here which serve as the source of livelihood to the denizens In the past few years, many big and small realty developers have shown interest in Faridabad Real Estate which is quite evident by the increasing number of residential and commercial projects which are on the verge of completion or have already in the possession stage. These Real estate projects include Residential Property In Faridabad, shopping malls, hotels, etc.
Factors That Have Boosted The Growth In Faridabad Real Estate
- Apart from the major reason i.e. proximity to Delhi & the seamless connectivity to the national capital & other important regions like Noida & Gurgaon, there are several other factors that have contributed to real estate development in the city.
- The government has initiated many projects to better the connectivity; some of the major ones include the planned Eastern Peripheral Expressway, Kundali-Manesar-Palwal Expressway and Ghaziabad-Kundali corridor.
- The Six-laned NH-2 highway is yet another factor which has boosted Real Estate Development in Faridabad.
- Some of the locations enjoying high demand among buyers include Sector 75, Sector 80, Greater Faridabad, Sector 28 and sector 82. Greater Faridabad is very popular among residential investors because of the affordable housing options available here.
- The metro rail connectivity is yet another factor that has contributed to the property boom in Faridabad. The Third Phase will connect Badarpur to YMCA Chowk while the next phase will link YMCA to Ballabhgarh and Noida.
It is a great time for investors looking to Buy Property In Faridabad as the property rates are only going to witness an upward shift in the next few years to come.