The Changing Face of Faridabad

May 14, 2007	(2 votes, average: 1.5 out of 5)  Loading ...
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A new boomtown of Haryana where the demand for real estate is ever increasing is none other than Faridabad. Since almost more than two years now this industrial city has been the numero uno destination for all property seekers.

The strategic location of Faridabad also furnishes it with enormous advantages. Being in vicinity to the Capital City, it attracts attention of people looking towards shifting in fast flourishing and attractive place.

“I narrow down on Faridabad as it is just 30 minutes from my office at Nehru Place,” says a marketing executive Kamal Krishna., who is all set to move in his new Faridabad flat in Green Field Valley.

Faridabad, closer to the Capital, offered the same in about half the price. The place is no more a smoky industrial town which is famous for hosting the annual Surajkund crafts fair. It is fast transforming into a green suburb which offers economical solutions to home seekers looking to stay around Delhi.

Driven by intense demand in both commercial and residential property sector, real estate in Faridabad is ostensibly flourishing. In addition, the city is on its way to make it big and would soon give a stiffer competition to cyber cities such as Noida and Gurgaon.

With property developers eyeing the trans-capital land acquired from villages along the Yamuna and soon to come up Taj Expressway Corridor, Faridabad is likely to sell out 20,000 houses in the next two years.

Property in Faridabad has been witnessing significant appreciation for the past few years. People can purchase a flat and a 1,000-square-foot bungalow plot for Rs 3,000-Rs 4,000 per square foot.  The prices for the same piece of property in cities like Noida and Gurgaon are at least double, if not more, says a Faridabad based real estate agent.

With the proper initiation of government, Faridabad can be the next best city of Haryana particularly in context with residential properties with glitzy shopping malls, improved connectivity, and conducive environ strengthening  its prospects further.

News Published Under:   Faridabad |