Guys,
Some News on Faridabad in ET, dont know real news or fabricated news!!
http://articles.economictimes.indiatime ... industriesEXREACT BELOW ( SOURCE ECONOMIC TIMES)
Futuristic developments
Located 25km from Delhi (ISBT), Faridabad is now emerging as the preferred destination for investors as there are huge prospects of economic boom in the air. The land crunch in Delhi is one of the primary factors for rocketing prices in the NCR, riding on the back of an insatiable demand.
Faridabad fits in as a panacea for such problem. The industrial city enjoys geographical and infrastructural advantages and there is a wider scope for real estate development here. The city has the merit of proximity to Delhi, as well as the NCR cities of Greater Noida and Gurgaon. These factors are driving end users, investors and corporates to choose Faridabad as a potential booming real estate destination.
The administration is focused on a comprehensive and multi-dimensional development of the environment, infrastructure and economy. The stakeholders here are unanimous that Faridabad must be transformed into be a model town, whose ascending economic prowess is matched by modern, efficiently managed urban services.
The stakeholders perceive an immense growth in industrialization and expect the service delivery mechanism to be responsive to this demand. They hope to carry forward to the next step in globalization by adopting policies supportive of rapid industrialization and ward off competition from other emerging industrial hubs in the NCR. Apart from attracting many more large and medium-scale industries, the focus will also be on attracting IT and IT-enabled service industries.
Industrial set-up
Faridabad has several MNCs, ISO-based industries, medium- and small-scale manufacturing units. On the whole, the total number of small, medium and large industries in the Faridabad-Ballabgarh Complex is around 15,000. The complex provides direct and indirect employment to nearly half a million people. The place is home to many MNCs in the manufacturing sectors like Whirlpool, Goodyear, Larsen and Toubro, Asea Brown Boveri, GKN Invel, Woodward Governor, and Castrol , apart from a clutch of Indian majors like Escorts, Eicher, Cutler-Hammer , Hyderabad Asbestos, and Nuchem, which are operating in this belt.
Real estate development
The real estate boom has transformed the skyline of Faridabad in the last few years, both in commercial and residential segment, as aggressive demand pushed the construction of premium properties. The demand comes from the growth and development in Faridabad's infrastructure as well as property value.
Surender Gupta, the chairman of Gold Souk Group, says: "We have plans to invest Rs 500 crore in residential sector in the NCR. We are embarking upon an aggressive expansion strategy to strengthen our presence in the NCR cities like Gurgaon , Noida, and the developing city of Faridabad, in the next three years."
Ravinder Taneja, the vice-chairman of TDI Group, says: "Faridabad has always been underpriced in spite of the geographical advantages it offers, being equidistant from Delhi, Gurgaon, and Noida and having fairly good connectivity with all, by road and rail route.
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www.HUDforeclosed.com The situation has been changing for the better with the entry of private players. The proposed Metro rail-link and modernization of Mathura Road will enhance the prospects of Faridabad further. Good connectivity and proximity to Delhi along with initiatives from the Haryana government may be considered as the prime factors for the economic development we see all round the town."
"The infrastructure of Faridabad is being overhauled with the state government pumping in crores of rupees for 'cluster development planning' . The government has also boosted the confidence of investors in the area by announcing a plan for an industrial model township (IMT) on the lines of Manesar," Surender Gupta of Gold Souk said.
Realty players
All this infrastructural development is now attracting realty majors to plan big and bring in projects that are truly of international style and standards. A number of real estate majors like BPTP, EROS group, Omaxe, Vipul, Piyush Group, Gold Souk, SRS Group, etc, have planned big to tap the emerging demand for projects with state-of-the-art infrastructure and equipped with the latest lifestyle facilities.
Along with swanky residential projects like Charmwood Village (Royal Retreat I, Royal Retreat II) by Eros Group, Parklands by BPTP, Piyush Heights by Piyush Group, there are commercial projects like EF3 Mall and several others under construction. Many shopping arcades and malls are functional with many more in the pipeline.