Faridabad has seen many high and lows

Realty boom in Faridabad Surprisingly, you would not able to find even an iota of trace of Shaikh Farid, the founder of Faridabad, the bustling city at a shouting distance from South Delhi. Shaikh Farid, who was a chieftain of Mughal king Jahangir, built this place way back in the 16th century. Since then Faridabad has seen many high and lows. Post partition of the country, it was allotted to refugees from Bannu now Pakistan. And then due to visionary ICS officer Sudhir Bose and the young entrepreneurs like SP Puri of Thomson Pres, HP Nanda of Escorts,ML Manchanda and others Faridabad grew in to a very-very promising industrial hub. Well, the salad days of Faridabad as an industrial hub is no more there, it has emerged as among the most sought after cities in NCR over the years. Currently, it is witnessing flurry of activities in terms of real-state. A developing city in Haryana on Aravali hills range has huge prospects of boom. It is witnessing the same growth as were witnessed in Gurgaon and Noida in recent past. Location of the city is also great as it is just 25 km from the Connaught Place.  This driving factor is working well for the city and thus Faridabad has seen a number of real estate developers swarming its precincts. According to Anu Gupta of Century 21, Naharpar area or the Greater Faridabad is an ideal place to invest. Sector-86 in Faridabad is commonly known as Naharpaar Area. Though infrastructure is still not very great here, the talks are on that once the proposed infrastructure comes up this is going to be one of the good locations. Price of land in Nahar Paar sectors is around Rs. 15,000 per sq. yd., in Sector 21C it is around Rs. 23,000 per sq. yd. and in Sector 46 the range is between Rs. 21,000 and Rs. 22, 0000 per sq. yd. Among the sectors that have greater potential Sectors 88 and 89 are in demand as they will be close to two upcoming highways.Meanwhile, experts also say that people should beware of the jargons like super built up area and carpet area. Do a thorough research before investing your hard earned money. So choose your options, and hope you make a good decision!The infrastructures that will help in development of Faridabad include the Taj Expressway (which will be near sector 80), and a highway beginning from Kalindi Kunj and running parallel to Mathura Road that will bypass the city. Says an official of HUDA, “With Gurgaon we are now focusing on the development of Faridabad. We are planning one new bypass for which we are acquiring land. People going towards Agra can now use this bypass to go through SurajKund and directly reach National Highway across sector 58, 59. We are also widening the existing bypass at Sector 37 with a cost of Rs. 118 crore which include the construction of one flyover over it.”Sameer Jasuja,MD of Propequity,says that sector 75 near Agra canal is going to be the next commercial hub for Faridabad. The good thing is that local administration is taking care of greenery. An official of Ansal API says whenBadarpur flyover will be through, the access will be more comfortable and also the plan of Metro reaching there in the future  shall put property to boom. As freight corridor is also in the vicinity with the catchments area being Faridabad, and then a planned HSIIDC’s commercial hub near Faridabad is further going to add up to the importance of the place in realty terms. While several shopping malls are under construction, Faridabad is likely to have more than 40 such spots over the next few years.”These changes can be seen in terms of floating of new sectors with a public and private sector partnership; setting up new institutional sectors; witnessing changes in the skyline by developing a new urban development policy, adding new high-tech electronic and communication units and IT Parks; and better road and transport facilities, says Avneesh Sood,Director,Eros group.Says Sameer Jasuja,” There is not much infrastructure here but we can look at the example of area like Indirapuram, which used to be a neglected area few years back. The industrial city with about 300 large and 10,000 small-scale industries under its belt has always been under-priced. But now the situation is changing. It not only has swanky residential but a lot of commercial projects have developed or are in various stages of progress.” The area will come in prominence once the planned flyover at Badarpur border is complete. As the area will be decongested more and more important companies will move towards Faridabad given the high rates at Jasola.Realty expert Surinder Gambhir feels, “Initiatives from the Haryana Government is also one of the prime factors behind spatial economic developmental changes here. This industrial city has reaped the prospects of its economic growth, but the real estate boom is transforming the skyline of Faridabad.”Notwithstanding the fact that there are some doubts about the delivery time, there can not be two opinions that a property in Greater Faridabad will be a priced possession post four-five years.Added By : OR