Greenfield Colony: Is it a Good Option to Buy a Property in Faridabad?

Faridabad Property at Makaan.com

I told you sometime back that I am on a house hunt. This isn't over yet. Since then, I have gone to many places, got reviews of so many people, noted down the pros & cons of every locality...And Greenfield Colony in Faridabad is one of these localities that I have done some research work for. Let me tell you what I have got to know about it.

Greenfield Colony carries the affordability tag; this was the prime reason why I went for it at the every first pace. If your budget to buy property in Faridabad lies in 25-75 lakh segment, for a 2 BHK flat, Greenfield Colony can be an ideal one. The average per square feet rate here is mostly concentrated around 3200-3600/-. For those who are keen to buy property for future investment, the colony stands a fair chance of price appreciation. As far as its connectivity is concerned, it is conveniently located at about 8 km from Delhi.

Now come the pitfalls...The prospective buyers of residential properties in Faridabad must know that the colony suffers from acute water and electricity shortage problems. Voltage fluctuation is very common. For new buyer, it is very difficult to get new electricity meters as authorities have denied many of them on account of registry closure. The locality becomes worse in monsoons with most of its gets deluged in water, with no adequate provisions from local bodies. Another major concern is a number of illegal constructions that property developers have resorted to. The builders are flouting any restrictions that have been imposed in terms of minimum area of construction.     

But this is not all... Being an old colony, it has no good parks, clubs, pools, and other amenities. The roads have not been worked since a very long time and are in bad shape. There are several unused plots that are used by residents as the sewage dumping ground; these ultimately become the breeding ground for diseases. To tell the truth, Greenfield needs the immediate attention of government authorities. The locality badly needs a revamp.  Only after these real estate issues are addressed, real estate Faridabad shall find any potential buyers