Properties in Faridabad Rising and Shining

The odds that Faridabad shall come at par with Gurgaon as far as the interest of the investors and end-users in the property are concerned are not very high. Still then, the chances are not very bleak. In fact, lately, the properties in Faridabad are catching the attention of middle-class buyers, a segment that are not able to put in stake an exorbitant sum into purchasing. Most of the upcoming projects in the city target below 7000/sq. ft range and come within the affordable range. If you too are looking for the residences that are easy on the pocketbook, the city can be a good option.

To look out for the affordable Faridabad property, the areas like Greater Faridabad, Nahar Par, Sectors 70, 75, 76, 86, and 89 are among the most sought after. The other options are Spring Field, Ajronda Chowk, and Palwal. The general bent is towards Greater Faridabad. The authorities are investing a huge sum for its infrastructural development and amenities. For fulfilling the needs of electricity alone, a sum of 20 crores has been set aside to electrify the entire area with street lights, head lights, and transformers. The developments going on over Master Road are expected to garner interest of the property buyers, in the years to come.

Surajkund, another locality in the city, is observing an upsurge in demand for properties in Faridabad. It is climbing the ladder of inflation, and can no longer be termed as an affordable option to purchasers. The average psf (per sq, ft) rate here is Rs. 7208/-, which is higher than the rates in Nahar Par, sectors 70, 75, 76, and 89. The proximity of Surajkund to South Delhi, good connectivity to Gurgaon, and the proposed extension of Central Secretariat to Badarpur Road are some of the factors that are expected to work in favor of the real estate scenario in Surajkund. But the locality still lags in terms of local transportation and airport connectivity. As of late, only a few High Net Worth Individuals (HNIs) have shown interest in investment here.

Areas like BPTP, Sector 21, Sainik colony, and Charmswood Village have higher psf values. For instance, a 2-BHK flat in Sector 21 could cost you in crores. On the same lines, in Charmswood, it is available between the range 80 to 90k. Seeing the way the upscale cities like Delhi and Gurgaon are succumbing to the shortage of land and the soaring prices, the Faridabad real estate can be one of the alternatives for property buyers.

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