Though Faridabad has been facing stiff competition from the other emerging residential hubs in the National Capital Region (NCR), it still attracts several real estate developers and buyers. Due to a number of affordable housing options, Greater Faridabad, also known as Neharpar, is fast emerging as the choicest destination for middle-class home buyers.
The fast-developing Neharpar area of Faridabad is lifting the profile of the old industrial town of Faridabad. Neharpar area offers favourable growth opportunities, better infrastructure and swift connectivity with other parts of NCR.
Several infrastructure projects are nearing completion and these will give a makeover to the Greater Faridabad area. Good residential growth can easily be expected in a year or so in the region.
What are the factors that ensure good growth?
Greater Faridabad, from Sectors 75 to 89, is well-connected to Delhi and the other suburbs in the NCR, such as Noida, Gurgaon and Ghaziabad. However, the investors cannot expect immediate returns as the area is under development and may take time to start generating returns. Neharpar is the location of future so you have to wait for 4 to 5 years in order to see some good appreciation.
Neharpar, was incorporated in the city’s master plan in 2004. It is connected to Ghaziabad, Noida, Faridabad and Palwal through the Eastern Periphery Expressway that makes this area a part of the industrial corridor. With several efficient infrastructure projects in the pipeline, it is considered to be the next Noida.
Sector 75 is set to be connected to Sector 79, which is designated as the commercial district by the Municipal Corporation of Faridabad, so your investment is safe and will reap handsome returns. These returns could be in the range of 20 to 35 per cent depending on the execution of the proposed infrastructure.
The other infrastructure initiatives for Greater Faridabad that are currently underway are the KMP (Kundli-Manesar-Palwal) Expressway that will connect the area with Delhi and Gurgaon. Also, the extension of lanes on the existing bypass road starting from Badarpur, which will help in easing the traffic at Badarpur border, is about to be complete.
Greater Faridabad seems to be the right place to invest or buy home as not only the area is affordable but also has good connectivity with Delhi NCR.
Alok Kumar Upadhayay