Surprisingly, you will not be able to find even a trace of Shaikh Farid, the founder of Faridabad, in the bustling city at a shouting distance from South Delhi. Shaikh Farid, who was a chieftain of the Mughal emperor Jahangir, built this place in the 16th century. Since then, Faridabad has seen many high and lows. After the Partition of the country, it was allotted to refugees from Bannu now Pakistan. And then due to a visionary ICS officer, Sudhir Bose, and young entrepreneurs like S P Puri of Thomson Press, H P Nanda of Escorts, M L Manchanda, and others, Faridabad grew in to a very promising industrial hub. Of course, while the salad days of Faridabad as an industrial hub have long since ceased, it has emerged as the most sought-after cities in NCR over the years.
Currently, it is witnessing a flurry of activity in the real estate sector. A developing city in Haryana on Aravali hill range, it has immense prospects for growth. It is witnessing the same growth as witnessed in Gurgaon and Noida in the recent past. The location of the city is also convenient as it is just 25km from the Connaught Place. This factor is working well for the city and consequently, Faridabad has seen a number of real estate developers swarming round it.
According to Sanjay Singh of Century 21, Naharpar area or the Greater Faridabad is an ideal place to invest. Sector 86 in Faridabad is commonly known as Naharpar area. Though infrastructure is still not very great here, talks are that once the proposed infrastructure is put in place this is going to be one of the best locations in the NCR. Price of land in Naharpar sectors is around Rs 15,000 per sq yd, in Sector 21C it is around Rs 23,000 per sq yd and in Sector 46 the range is between Rs 21,000 and Rs 22, 0000 per sq yd. Among the sectors that have greater potential are Sectors 88 and 89, which are in demand as they will be close to two highways to be built soon.
Meanwhile, experts also say that people should beware of the jargons like 'super built up area' and 'carpet area'. Do a thorough research before investing your hardearned money.
The infrastructures that will help in development of Faridabad include the Taj Expressway (which will be near Sector 80), and a highway starting from Kalindi Kunj and running parallel to Mathura Road, which will bypass the city. An official of HUDA says: "We are now focusing on the development of Faridabad. We are planning one new bypass for which we are acquiring land. People going towards Agra can now use this bypass to go through Surajkund and directly reach national highway across Sectors 58, 59. We are also widening the existing bypass at Sector 37 at a cost of Rs 118 crore, which includes the construction of one flyover over it."
Sameer Jasuja, MD of PropEquity, says that Sector 75 near Agra canal is going to be the next commercial hub of Faridabad. The good thing is that local administration is taking care of greenery.
An official of Ansal API says that when the Badarpur flyover will be completed, the access will be more comfortable and the plan for a Metro line there will lend wings to the realty sector. The freight corridor is also in the vicinity, with the catchments area being Faridabad and a planned HSIIDC's commercial hub is near here. All this is going to add up to the importance of the place in realty terms. While several shopping malls are under construction, Faridabad is likely to have more than 40 such spots over the next few years.
"These changes can be seen in terms of floating of new sectors with a public and private sector partnership; setting up new institutional sectors; witnessing changes in the skyline by developing a new urban development policy, adding new high-tech electronic and communication units and IT parks; and better road and transport facilities," says Avneesh Sood, director of Eros group.
Sameer Jasuja adds: "There is not much infrastructure here but we can look at the example of an area like Indirapuram, which used to be a neglected region a few years ago. The industrial city with about 300 large and 10,000 small-scale industries under its belt has always been underpriced. But now the situation is changing. It has swanky residential and commercial projects and they are in various stages of development."
The area will come into prominence once the planned flyover at Badarpur border is complete. As the area will be decongested more and more important companies will move towards Faridabad given the high rates at Jasola.
Surinder Gambhir, a realty expert, feels: "Initiatives from the Haryana government is also one of the prime factors behind spatial economic developmental changes here. The real estate boom is also transforming the skyline of Faridabad."
Notwithstanding the fact that there are some doubts about the delivery time, there can be no two opinions that a property in Greater Faridabad will be a prized possession after four-five years.
Courtesy by : Times Property Dtd : August 21st , 2010
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