Living in the largest city of the north Indian state of Haryana, is becoming a preferred choice by lot of people from across states of the country. Though the foundation of this place may go back to the Mughal reign in the 16th century, there is no doubt that Faridabad has witnessed its ups and downs. In this post we will have an insight in the real estate scenario of Faridabad.
Sharing its boundaries with the National Capital region of Delhi, Gurgaon and Uttar Pradesh at its south, this city attracts migrants from multiple cultures. Not only geographically, but Faridabad enjoys its benefits of being a prime location even politically. Recently, the city has seen some major developments in terms of industrialization and commercialization. Almost every leading industry is stepping in their establishments in Faridabad. A well connected city and the destination for some important cultural events such as the Suraj Kund Mela, which attracts visitors from across the world, Faridabad is a constantly evolving city which has made it the most sought after city in the past few years for industrial development. Being the industrial capital of the country, it is home to several large scale companies.
Faridabad is witnessing an outburst of developments in the real estate. Plots in Faridabad are mostly the agricultural lands that have been taken over by the property dealers. Not only the industrial but even the presence of colleges and educational institutes is drawing a lot of attention of the students from across cities. Let us have a look why the city of Faridabad is considered to be an attractive option for real estate development:
The famous Delhi-Agra National Highway which is also known as the Sher Shah Suri Marg passes along the Faridabad district.
North Central Railway’s several railway stations including the Old Faridabad exist on the Delhi-Mathura line.
Faridabad is also expecting construction of several shopping malls which make the city equip with over 40 facilities in coming few years.
Other constructions such as the Taj Expressway, highway running along Kalindi Kunj will all bypass the city. Faridabad has been the major target for real estate development by the government authorities after the strong development of Gurgaon.
The city is also a major industrial hub of Haryana. Along with Gurgaon, Faridabad is contributing around 50% of the income tax collection of Haryana. Other than henna being the major production of the agricultural sector, the other primary industrial products include motorcycles, tractors, refrigerators, switch gears, tyres and shoes.
Location wise also, Faridabad is very close to prime locations of the national territory. Being just 25 kms from Connaught Place, it adds a lot of advantage to the real estate developers to sell properties and plots in Faridabad.
The metro line which is further extending in the region has enhanced its accessibility giving property a boom in the area.
Gurgaon Faridabad Road which stretches to around 25 kms is eventually becoming a favourite low density location for the real estate developers because of its nearness to Aravalli Hills. This location is liked because of its close vicinity to developed cities such as Gurgaon and Faridabad; and still be away from the loud hustles of the city.
Known as one of the satellite cities, Faridabad along with Noida and Gurgaon which is surrounding the capital region of Delhi is highly impacted by the robust developments happening in Delhi. The eminent presence of strong employee base makes this city a promising land for real estate development. With developing industries, the demand for both commercial as well as residential infrastructure will remain prevalent.
Alice is an experienced real estate blogger. Here she discuss about new strategy and share information of real estate as well as home improvement.
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