Faridabad is the largest city in the state of Haryana. The city shares its border with the National Capital and Union Territory of Delhi to its north, Gurgaon district to the west and Uttar Pradesh to its east and south. Faridabad enjoys a prime location both geographically and politically.
Located 25 km from Delhi, Faridabad real estate is emerging as the favored destination for investors because there are huge job opportunities and a prediction of economic boom in the air. The shortage of land in Delhi is one of the foremost factors for booming real estate in Faridabad.
Affordable prices and proximity to workplaces in Delhi, Greater Noida and Gurgaon is contributing towards increased residential projects in Faridabad. The proposed Metro rail-link and modernization of Mathura Road will increase the demand for property in Faridabad.
Here is a list of some of the preferred locations in Faridabad real estate:
A heap of land in the Nehrapur area is available for new infrastructure development. Neharpar in Faridabad is emerging as another Noida or Gurgaon. This is because of the Kundli-Manesar-Palwal
Expressway that will connect Neharpur with Delhi and Gurgaon.
Witnessing the realty prospects of this developing area, investors are already in the process of buying property here. The area falling under Nehrapur is divided into different sectors including Sectors 75, 76, 81, 82, 85 adjoining Neharpar and near posh Sectors 14 and 15.
The return on investment has witnessed an increase of 1 percent q-o-q. The highest locality price for flats for sale in Nehrapur is Rs. 3800 per square foot, lowest locality price is Rs. 3700 per square foot and the average price is Rs. 3700 per square foot.
The rent for flat in Nehrapur will cost around Rs. 9 per square foot. The residential plot for sale in Nehrapur is witnessing a hike of 11 percent q-o-q and is priced at Rs. 30000 per square yard.
Surajkund is primarily an industrial town. This green area of Faridabad has affordable flats and undoubted location advantage. Connectivity to south Delhi is the prime reason for the upswing in real estate in Surajkund.
This town can be easily accessed via the Gurgaon-Faridabad road and Mehrauli-Badarpur road. Surajkund also has some good hospitals, malls and attractive hotels in its vicinity. This location is famous for the Asola Bhatti Wild Life Sanctuary and Sun Temple.
The highest locality price for flats for sale in Surajkund is Rs. 7400 per square foot, the lowest locality price is Rs. 6900 per square foot and the average locality price is Rs. 7200 per square foot.
It is a posh locality of Faridabad with all basic amenities and facilities. This locality is very well-connected to South Delhi and is located walking distance from Mathura Road, M.G. Road, the metro station, Crown Mall and Big Bazaar.
This locality is definitely witnessing a good price hike and the return on investment is increasing in this area. The highest locality price for flats for sale in Green valley is Rs. 5800 per square foot, lowest locality price is Rs. 5600 per square foot and the average price is Rs. 5700 per square foot.
Dayal Basti is a developing area in Faridabad. Its close proximity to Old Faridabad, NIT and Ballabgarh is creating a demand for real estate in Dayal Basti. This locality is famous for National Museum and Tughlaqabad Fort Complex. One can find good schools, colleges and hospital in and around Dayal Basti.
A 2BHK flat for sale in Dayal Basti will approximately cost Rs. 30 lakhs to 35 lakhs and a 3BHK flat for sale is priced between lakhs and crores. There return on investment is witnessing a hike. An office space in Dayal Basti area is priced at Rs. 9000 per square foot.
NIT, or New Industrial Town in Faridabad, is gaining popularity in real estate sector due to its proximity to Ballabgarh, Old Faridabad, Delhi and Gurgaon.
People interested in budgeted homes in close proximity to NCR and Delhi are aiming this area. The basic amenities like water and electricity are provided by Municipal Corporation and Dakshin Haryana Bijli Vitran Nigam respectively.
The return on investment is witnessing a hike of 5 percent q-o-q in this locality. The highest locality price for flats for sale in NIT is Rs. 4800 per square foot, the lowest locality price is Rs. 3700 per square foot and the average price is Rs. 4300 per square foot.
Currently, the Faridabad real estate sector is appreciating in residential and commercial area. As of now, people who have set their sights on future gains are purchasing in this locality.