Faridabad located in the Northern Indian state of Haryana is becoming the preferred destination for investment as the experts predict an economic boom in the air and also there are massive employment opportunities. Shortage of land in Delhi, closeness to work places in Delhi, Gurgaon and Greater Noida, proposed metro rail –link and urbanization of Mathura road are some of the factors contributing towards the boom of residential projects in Faridabad.
Due to its strategic location and proximity to Delhi, the city is like a gold mine for Faridabad real estate developers, who make sure that the economic progress of the city keeps on attracting investor interest. Being the industrial hub, the demand for land and property keeps on increasing. Also as Delhi does not have enough space to adjust anyone and everyone who knocks at the door, people are having a keen eye towards the adjoining cities and towns like Faridabad.
The top areas for Residential projects in Faridabad are Neharpar area in Greater Faridabad, which promises an affordable option for buying property as compared to other areas like Noida or Gurgaon, Surajkund which is mainly an industrial town but has affordable flats and enjoys location advantage due to its connectivity to South Delhi.
Talking about the future trends, going ahead, Faridabad will be mainly an end user market. The coming months will witness stock compilation as demand for property is expected to pick up. Another emerging trend is that people living in smaller accommodations in Delhi, moving out to Faridabad in order to buy/ rent bigger units provided the connectivity is supported by their workplaces.
