Faridabad: Connect and boom

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Property Times (Times of India) 8-Aug-2009

Faridabad: Connect and boom

With a number of flyovers, expressways and of course, the Metro line, coming up in Faridabad, the city will have unrivalled connectivity in the NCR. No wonder that several realty majors are making a beeline for this happening place, says Krishna Kumar Mangalam


Faridabad is in news — the industrial town nestled in the Aravalli hills is on a growth highway much like Gurgaon and Noida. Faridabad has been chosen by the government under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for improvement of urban infrastructure and has been granted Rs 2,500 crore for the purpose. The grandiose plans of infrastructure development coupled with land crunch and skyrocketing prices in adjoining areas has given Faridabad a realty advantage.

Just 8 km from Ashram Chowk and well connected through Mathura Road, Faridabad enjoys a huge locational advantage, and with the Badarpur flyover project having finally taken off, Faridabad will become more accessible from South Delhi. The project will significantly ease the lives of people traversing Delhi-Faridabad border as the 3-4 km long project will cover five intersections, with two in Delhi and three in Haryana.

As connectivity increases and more industries start investing in the region, demand for quality real estate products will also be on the rise. A lot of development activities are going on in the new sectors of Faridabad (Naharpar) like Sectors 75, 76, 80, 81, 82, 83, 85, 86, 88 and 89.

A real estate major, BPTP Limited, is in the process of creating one of the largest integrated townships in Faridabad called BPTP Parklands. The 1,400-acre BPTP Parklands is spread across 11 established sectors of Faridabad. The township will see development of residential and commercial realty, including plotted development, group housing projects, independent villas, shopping malls, hotels, offices complex; SEZs, IT parks, hotels, schools, hospitals, mall and retail complexes will also be developed here.

The company has now launched 5-6 group housing projects in Parklands, Princess in Sector 86, Park Grandeura in Sector 82, The Resort in Sector 75, Park Floors 1 and II at Sectors 76 and 77, and villas at Sectors 88 and 75 apart from commercial complexes, The Next Door and Park Square, in Sector 76. Kabul Chawla, MD of BPTP Limited, says “The complex will have several residential and commercial complexes, retail spaces, healthcare facilities, educational institutions, entertainment and sporting options.”

The KLJ group has launched three group housing projects — La-Vista, Espana and KLJ Greens — in Sector 77. It is also constructing independent floor houses, where prices range between Rs 14 lakh and Rs 19 lakh.

Triveni Infrastructure, another realty major, is also implementing a number of projects in Faridabad. Besides an apartment project, Galaxy in Sector 78, it has also launched two projects of independent houses - Luxury Villas in Sector 78 and Garden Villa in Sector 89. The prices of independent houses range between Rs 34 lakh and Rs 90 lakh.

In Faridabad, one can buy houses for as little as Rs 18 lakh. This has made it an attractive destination for middle-income families. And the best part about Faridabad is the realty prices are still affordable and lower than those in Gurgaon or Noida. Land prices in Faridabad are stable primarily because Faridabad is just catching up with its neighbouring locations.

The state government has other ambitious infrastructure plans to improve Faridabad’s connectivity. A western peripheral expressway, KMP (Kundli-Manesar-Palwal), which will connect Palwal, Manesar and Sonepat, is set to see development of industrial units, special economic zones (SEZs) and IT parks along its 135 km route. Another bypass highway is being planned, which will take off from Kalindi Kunj and run parallel to Mathura Road.

Apart from Delhi-Badarpur flyover and KMP expressway, construction of the FNG (Faridabad-Noida-Ghaziabad) expressway will give Faridabad unrivalled connectivity to Noida and Ghaziabad. Delhi Metro, which changed the lifestyle of people in Delhi, will be extended to Faridabad by 2011, and touch Sector 12. Infrastructural developments like these are making Faridabad, the most sought after residential and industrial destination in the NCR. And, after Taj Expressway is built, connectivity between the new sectors of Faridabad, Noida and Greater Noida will improve significantly.

Faridabad always had the potential of being an important centre for real estate activity. Once the proposed and ongoing infrastructure projects underway are complete, real estate prices in the area will go up manifold.

Faridabad is well connected to the national capital and neighboring states and melds smoothly between Gurgaon and the Noida/Greater Noida region — and that is its USP.

[ddamitav]

rSince last three years we are hearing the same news ................. no ground level work. There is no proposal for metro connectivity for Faridabad as on date which has been cleared by Minister in The Parliament itself........

Amitav dash