Faridabad Property: An Economical Option for Buyers

Given a choice to buy property anywhere in Delhi/NCR, what would be your preferred location? Most votes would come for Gurgaon or Noida, Isn't it? What about Faridabad? You may seem skeptical about this city, given that only little is known about its prospect as an investment option and the other two cities take all the limelight. If you are keen on buying a property in Faridabad, there are so many factors that back the city as brining good returns.

The presence of good infrastructure has been the cornerstone for Faridabad real estate. The city houses several of central government offices, renowned manufacturing industries, and IT companies. The connectivity to the surrounding cities via NH-2 and the upcoming Yamuna Expressway that is built to relieve NH-2 of the congestion make the accessibility far too easier and less time-consuming.  So, commuting won't be an issue on day-to-day basis, if  that is an issue with you.

With some of the renowned developers like BPTP, Omaxe, Anjara, and Ansals getting a strong foothold here, the availability of flats with top-class amenities make buying apartments in Faridabad a good option. With the availability of land to develop and thinly populated localities attracting more investors, the city would soon be seeing more skyscrapers dotting the skyline.

The one thing that gives the Faridabad property an edge over other cities of NCR is the low price rates. So, affordability is the biggest factor why an average buyer can hope to buy a house here. Unlike Gurgaon and Noida where the rates are always sky-high, this city offers economical options. As more people are now seeing as one of the options, the price rates have started escalating here too. An increase of about 24% was recorded in the price rates/sq. ft in the past one year. And the price stood at Rs. 3862/sq. ft. in July, 2013, with the rest of Delhi /NCR standing at Rs. 5169. The upcoming electrification projects are going to boost the status of the city in terms of real estate. These  power plants are expected to generate1500 MW of electricity after becoming operational.

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