Buying Property in Faridabad: Would You Go for It?

Faridabad Property at Makaan.com

Faridabad comes as a good option when it comes to buy house and residential properties in Delhi NCR. And why not? Being a sustainable city, it is preferred by the property seekers for whom budgetary constraint is the prime factor. To add to this, Faridabad real estate is also distinguished for having huge land parcels available for futuristic developments. At a time when Delhi and Gurgaon have reached the state of saturation in terms of residential constructions, Faridabad comes as a pleasant respite to many. But the picture is not as rosy as the developers portray. There are some pitfalls, certain dampening factors that indicate that the city has some serious issues to resolve first.

I have been searching real estate Faridabad property from past one year. During this time span, I came to know about this city better. The first and foremost thing of concern is its below par basic amenities: there are issues related to quality of its drinking water, scarcity of water, poor sewage disposal systems, and shortage of electricity. As I was reading somewhere, Greenfield Colony had some serious water problems a few months back. Though the issue has been resolved up to some extent, the residents are not satisfied with the state of affairs. Similarly, there are several other localities too that are facing water issue.

In some places, the residents are facing sewage disposal problems. There are no treatment plants where the garbage can be properly disposed. This makes the residents of property in Faridabad use bad practices that cause harm to environment. Another factor that goes against this city is high pollution level. Faridabad has a plenty of small scale manufacturing units that emit poisonous gases on daily basis. The residential localities in the nearby area are affected to a great extent.

Unless some concrete steps are taken to raise the quality of life here, there are only a dismal chance that this city would make something worthwhile out of its real estate.

Ghaziabad Property Market Poised to Become Next Hotshot of Realty

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Ghaziabad, a hitherto neglected town, is all set to become real estate stalwart in near future. The way it has seen tremendous infrastructural growth over years indicates that the city has already made an appreciable progress in realty market. It has emerged out as a good alternative market for property seekers who are finding it difficult to find dream house in the capital city Delhi. The market for Ghaziabad properties is flourishing on account of several factors  that are discussed below.

It was availability of cheap land that garnered attention of real estate builders and developers. Ghaziabad properties rates, though have appreciated over years, are still affordable if compared to Delhi NCR cities like Gurgaon and Noida. For buyers for whom affordability is the biggest factor in deciding upon a property, this city comes as a pleasant respite.

Another factor that goes in favor of property in Ghaziabad is their steadily improving connectivity to other Delhi NCR cities. With two most important road links, NH 24 and NH 58, in its kitty, the distances have shortened. Some very reputed builders like Amrapalli and Supertech have launched their prestigious residential and commercial projects across its localities. It is because of the improved connectivity that population density has gone all the way up in this city.
City's link to DMRC has further paved the way for commuters to travel to and from Delhi. The present link up to Vaishali made it possible the commutation at the very first place. And it also paved the way for constructions of residential and commercial property in Gurgaon. 

But all is not well. Ghaziabad Development Authority(GDA) has failed in solving the problems of water sewage and electricity supply. It was only recently that the residents raised their objection to the high water and electricity rates levied upon them in-spite of the poor supply of both.

Gurgaon Real Estate: The Dire State of Affairs

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What went wrong with Gurgaon real estate? A city that houses some of the glossiest skyscrapers and is a home to some of the best corporate companies seems to have failed in its very purpose for which it was developed. Today, its realty market is all down in dumps. Blame it on the way reckless manner it witnessed residential and commercial development, or the extortionate price rates can be held culpable for the same. Or a combination of both.

Though the residential projects for properties in Gurgaon are largely brought into being with planning, the larger picture does not say so. The developers and builders left no stone unturned to utilize every single piece of land available for construction. Their  devil-may-care attitude in bringing about their projects into reality played havoc with city's resources. Consonantly depleting water table and slacked earth surface due to excessive sand mining have already posed an alarming picture. For buyers intending to make a purchase in the city, such trends have turned the sentiments largely negative. For a city that won't be able to sustain itself in the coming years, it is very difficult to create new demand market.

As far as realty prices of realestate Gurgaon property are concerned, they have only treaded an upward graph. The way rates have appreciated over years has created a lull in the demand market. Most of them are far from being affordable by low and mid-income brackets. Even for  high income groups, the rates are beyond their purchasing capabilities. Cumulative effect of the skyrocketing rates can be seen in the low demand -supply ratio. Developers never let the prices to correct and this, in turn, has kept the purchasers at distance.

There are several other dampening factors responsible for the dire state of affairs for property in Gurgaon. Lack of any traffic-alleviating system, not enough traffic signals, and below mark basic amenities have further added to the woes of this Millennium City.

Ghaziabad Property Infographics @Makaan.com

Property in Chandigarh: All Geared Up to be the Next Retail Destination

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In spite of carrying the tag of a tier-II city, property Chandigarh  market performed well in 2013. Though the real estate prices fell by about 2.1% in the third quarter, the city exhibited good scope for retail market. As per a report by global property management firm Jones Lang LaSalle, the city, along with Surat and Ahmedabad, are all geared up to become the next best destinations for retail investors, after major metros. Chandigarh derives its potential from the presence of  unused infrastructure and availability of land for futuristic developments.

Commercial property in Chandigarh too carries scope for office market. Affordable land rates make it an attractive destination for realtors and investors across country. As per a survey, the city stands at ninth position in terms of Market Potential Index. While tier-I cites like Gurgaon and Delhi are constantly losing ground on account of their saturation, Chandigarh comes as a relief to several. For buyers who are too keen on keeping their budgetary constraints to minimum levels, city  comes as a good choice. Planned constructions, open spaces, and green cover are the factors that speak in favor of city.

Zirakpur, one of the prominent markets to Buy House Chandigarh properties, offers luxury residential spaces. The locality has developed at a good pace, and toady, one can see a plethora of high-end malls and hotels having sprung up all over. With the upcoming IT Park in city, the realty prices are expected to scale all the way up. In the near future, the demand for residential spaces is expected to see a boost.

Ambala-Chandigarh is another preferable area for buyers of Chandigarh property. Mohali is the commercial hub of city and under the Master Plan, it is going to see further expansion of residential spaces. Mohali has seen the foraying of some global giants, thus giving it leverage over other localities across city.

Faridabad property Infographic @Makaan.com

Faridabad Property Infographic

Noida Property Infographic @Makaan.com

Noida Property at Makaan.com