Faridabad - A rival to watch [HT Estates 30-Jan-2010]

[webmaster]

A rival to watch

With concrete plans in place for water supply and waste management, Faridabad could take some shine off neighbouring south Delhi.
Syed Amir Ali Hashmi reports

Hardeep Singh Arora searched for a suitable house in NCR, but no place clicked for him. His main concerns were law and order, water, commutation and electricity supply. Finally, he zeroed in on Naharpar in Faridabad. "This location suited me because in Haryana, availability of water and electricity is far better than other places. Gurgaon is also in Haryana, but then the prices were very high," says Arora, area sales manager, 3M India, a US-based multifaced company. "Here in Naharpar, there is an entry from the BPTP bridge at Sector 14 and 15, which is very good. Apart from that, as this place is new, I believe that development will be far quicker then in remote places of other NCR towns."
After almost all of Faridabad is exhausted, Naharpar is the area that developers are focusing on.

Realtors say that the reason behind Naharpar's development is the land crunch and the high property prices in other NCR areas. In most of the other places, infrastructure development has led to a price rise, but this is still uncharted territory in comparison.

As of now, there is hardly any infrastructure in Naharpar, but the examples of Indirapuram and Greater Noida -- a neglected areas a few years ago, but now attractive options -- tell us that good things are in store for Naharpar, too, thanks to the cost advantage it has at the moment.

A vast virgin tract has opened up for development here. BPTP has the major portion of land in this area, which is around 1,500 acres.
Other developers with a presence here include Omaxe, Puri, SRS and RPS.

Anyone who has visited the place seven months ago can easily see the construction coming up now. Amit Raj Jain, vice-president (marketing), BPTP Limited, says, "We are ready to give possession of four towers in Park Grandeura, and after a few months, we plan to give possessions in Princess Park.
Around 1,800 units will be handed over in these two projects."

Residential sectors in Naharpar are in Sector 75-78 and Sector 80-89. Though the infrastructure is not in place, industry experts forecast that once the facilities do come up, these will be good locations. "The price of plots, which are mostly available on resale, is Rs 9,000-12,000 per sq. yards. For flats, prices per sq. ft are about Rs 1,800," says Pradeep Mishra, real estate analyst, Sainik Estates. "One of the best options in this area is the independent floors. BPTP and Puri have already announced (developments with) the independent floors.
I believe more such options will come up here."

As for returns on investment, Anurag Marwah, property consultant, Beautiful Homes Private Limited, Faridabad, says, "The slowdown in the realty market had brought down prices by 35-40 per cent in Faridabad, but that is slowly picking up. There has been almost 100 per cent recovery in HUDA sectors. Recovery in the upcoming areas is slower."

One of the negative factors about Naharpar is the Badarpur border, infamous for its tiring traffic jams.
Anyone commuting to Faridabad has to cross this place. However, work will be completed this year on a flyover at Badarpur border, and the congestion is expected to ease then.

Other developments to take place in the vicinity include the Taj Expressway (near Sector 80) and a highway beginning from Kalindi Kunj and running parallel to Mathura Road that will bypass the city. This will be a kind of a peripheral road around Naharpar.

After the development of Gurgaon, HUDA is augmenting the capacity of the bypass at Sector 37, which includes the construction of a flyover over it. Sector 79 has been earmarked by the Municipal Corporation of Faridabad (MCF) as a commercial district.

One of the concerns for homebuyers will be the development of sector roads in the area. The government has imposed Section 17(4) of the Land Acquisition Act for compulsory acquiring of land falling under sector roads.
Therefore, the development of sector roads seems likely in the near future. However, it is yet to begin.

Officials claim that the greening of the place is also under way. "We've reserved Sector 52A in Gurgaon as a `green area' and are also taking take care of the greening of Faridabad," says a HUDA official.

He adds, "A freight corridor is also in the vicinity, the catchment area being Faridabad. Then a planned HSIIDC commercial hub near Faridabad will add to the importance of the place in realty terms. Several malls are under construction, and Faridabad is likely to have more than 40 such spots over the next few years."

A senior MCF official says, "We are investing Rs 500 crore on water alone for Naharpar. In this (scheme), we will built rain wells and high-capacity vertical tubewells. In Sector 74, near Badshahpur village, we are developing a 45 mld capacity STP plant. Then we will have 56 tubewells from village Budhena and beyond.

"If the township becomes fully operational, we hope to cater to the water needs of the people till 2020."

Realtors believe that corporate firms will move towards Faridabad, given the high rates at nearby Jasola in south Delhi. Market sentiments are so far low, but when the move happens, Naharpar will benefit greatly.

"A bypass will run parallel to the nahar (canal), going up to Ballabhgarh. On this, fourlaning will be done. Once that is through, the traffic problem will be solved," says the MCF official. "Another important thing coming up is a solid waste processing facility in Gurgaon, at a cost of Rs 75 crore. This will process around 1,000 tonnes of solid waste daily.
Faridabad produces 400 tonnes of waste per day and Gurgaon 200 tonnes per day.
This facility will cater to both the areas."

H clicked for h ardeep Singh Arora searched for a suitable house in NCR, but no place clicked for him. His main concerns were law and order, water, commutation and electricity supply. Finally, he zeroed in on Naharpar in Faridabad. "This location suited me because in Haryana, availability of water and electricity is far better than other places. Gurgaon is also in Haryana, but then the prices were very high," says Arora, area sales manager, 3M India, a US-based multifaced company. "Here in Naharpar, there is an entry from the BPTP bridge at Sector 14 and 15, which is very good. Apart from that, as this place is new, I believe that development will be far quicker then in remote places of other NCR towns."
After almost all of Faridabad is exhausted, Naharpar is the area that developers are focusing on.

Realtors say that the reason behind Naharpar's development is the land crunch and the high property prices in other NCR areas. In most of the other places, infrastructure development has led to a price rise, but this is still uncharted territory in comparison.

As of now, there is hardly any infrastructure in Naharpar, but the examples of Indirapuram and Greater Noida -- a neglected areas a few years ago, but now attractive options -- tell us that good things are in store for Naharpar, too, thanks to the cost advantage it has at the moment.

A vast virgin tract has opened up for development here. BPTP has the major portion of land in this area, which is around 1,500 acres.
Other developers with a presence here include Omaxe, Puri, SRS and RPS.

Anyone who has visited the place seven months ago can easily see the construction coming up now. Amit Raj Jain, vice-president (marketing), BPTP Limited, says, "We are ready to give possession of four towers in Park Grandeura, and after a few months, we plan to give possessions in Princess Park.
Around 1,800 units will be handed over in these two projects."

Residential sectors in Naharpar are in Sector 75-78 and Sector 80-89. Though the infrastructure is not in place, industry experts forecast that once the facilities do come up, these will be good locations. "The price of plots, which are mostly available on resale, is Rs 9,000-12,000 per sq. yards. For flats, prices per sq. ft are about Rs 1,800," says Pradeep Mishra, real estate analyst, Sainik Estates. "One of the best options in this area is the independent floors. BPTP and Puri have already announced (developments with) the independent floors.
I believe more such options will come up here."

As for returns on investment, Anurag Marwah, property consultant, Beautiful Homes Private Limited, Faridabad, says, "The slowdown in the realty market had brought down prices by 35-40 per cent in Faridabad, but that is slowly picking up. There has been almost 100 per cent recovery in HUDA sectors. Recovery in the upcoming areas is slower."

One of the negative factors about Naharpar is the Badarpur border, infamous for its tiring traffic jams.
Anyone commuting to Faridabad has to cross this place. However, work will be completed this year on a flyover at Badarpur border, and the congestion is expected to ease then.

Other developments to take place in the vicinity include the Taj Expressway (near Sector 80) and a highway beginning from Kalindi Kunj and running parallel to Mathura Road that will bypass the city. This will be a kind of a peripheral road around Naharpar.

After the development of Gurgaon, HUDA is augmenting the capacity of the bypass at Sector 37, which includes the construction of a flyover over it. Sector 79 has been earmarked by the Municipal Corporation of Faridabad (MCF) as a commercial district.

One of the concerns for homebuyers will be the development of sector roads in the area. The government has imposed Section 17(4) of the Land Acquisition Act for compulsory acquiring of land falling under sector roads.
Therefore, the development of sector roads seems likely in the near future. However, it is yet to begin.

Officials claim that the greening of the place is also under way. "We've reserved Sector 52A in Gurgaon as a `green area' and are also taking take care of the greening of Faridabad," says a HUDA official.

He adds, "A freight corridor is also in the vicinity, the catchment area being Faridabad. Then a planned HSIIDC commercial hub near Faridabad will add to the importance of the place in realty terms. Several malls are under construction, and Faridabad is likely to have more than 40 such spots over the next few years."

A senior MCF official says, "We are investing Rs 500 crore on water alone for Naharpar. In this (scheme), we will built rain wells and high-capacity vertical tubewells. In Sector 74, near Badshahpur village, we are developing a 45 mld capacity STP plant. Then we will have 56 tubewells from village Budhena and beyond.

"If the township becomes fully operational, we hope to cater to the water needs of the people till 2020."

Realtors believe that corporate firms will move towards Faridabad, given the high rates at nearby Jasola in south Delhi. Market sentiments are so far low, but when the move happens, Naharpar will benefit greatly.

"A bypass will run parallel to the nahar (canal), going up to Ballabhgarh. On this, fourlaning will be done. Once that is through, the traffic problem will be solved," says the MCF official. "Another important thing coming up is a solid waste processing facility in Gurgaon, at a cost of Rs 75 crore. This will process around 1,000 tonnes of solid waste daily.
Faridabad produces 400 tonnes of waste per day and Gurgaon 200 tonnes per day.
This facility will cater to both the areas."

[ddamitav]

It seems Hardip Sing booked his flat at 12 noon as we booked............... in 2005 same stories were told about faridabad.

Now things are cleared thanks to Puneet's RTI.

We must forward the RTI reply to the concern jounalist

[scorpio77]

Don't beleive in these type of stories as we all had seen neharpar area, there is no chance that neharpar will be operational b4 1-2 years from now. (if no mircale happens)

[ddamitav]

1 - 2 years!!!!! I bet 5 years still Nehar paar will be the same. Shameless govt.