Faridabad Properties

Faridabad has an area of around 178.39 sq. km. and is considered to be the next upcoming industrial hub in Haryana. The city is located at the north-west of the National capital Delhi and has a total population of around 26 lakh. Within NCR, Faridabad real estate sector has been within rapid development, so much so that it can very well be considered as one of the most organized realty markets with a great future prospect. Along with the requirement of commercial buildings, the demand for residential buildings is also soaring up in the city of Faridabad.

Recently, over 10 shopping complex projects have been initiated that are expected to be complete within the next 2-3 years. These malls will have gigantic parking lots, just like the ones we see in bigger cities, and will host some of the biggest brands in the world. Then, you may expect to see a dedicated rail link especially for travelling from Delhi to Faridabad and back. Such modern development in and around the city has further fuelled the rates of Faridabad properties like anything.

Due to its closeness to major cities Delhi and Gurgaon, there is a huge demand for all kinds of residential establishments like apartments, duplexes, flats, villas and bungalows. People are willing to buy properties here for sake of investment as well as residing for longer term. They earn well, and, hence, possess the potential to spend well too. Looking at the sudden surge in demand, over the last few years, we’ve seen big real estate players like Ferrous Group, BPTP, Omaxe and SRS Group investing extensively in Faridabad real estate.

Residential Property Prices in Faridabad

Let us see what the pricing trends are like in this quickly developing city. Places like Sector 80 and Sector 37 are on the costlier side with 3BHK apartments of 1800 sq. ft. - 2000 sq. ft., falling in the range of Rs. 70 Lakhs to Rs. 85 Lakhs.

A bigger 4 BHK apartment measuring around 3000 sq. ft. can cost even more than Rs. 1 crore. A modest investment option would be an area like Sector 86, where even a 4 BHK apartment of around 2400 sq. ft. should not cost more than Rs. 45- 47 lakhs.

Not blessed with a broad range? If your budget is somewhere near Rs 20 Lakhs, the most viable options would be localities like Sector 77 and Sector 85 where there are 2-3 BHK apartments of around 1300 sq. ft. on the offer within Rs. 20 lakhs. Then there are high-end housing solutions like penthouses available in Sector 82, but they can cost as high as Rs. 1.5 Crores, sending shudders through the buyer’s spine. They may not be on the cards from an average investor’s perspective.

Office Space and Industrial Plots Prices

In places like Sector 16, office spaces can be bought at the rate of Rs. 8,500/sq ft which can make a 1500 sq. ft. area of around Rs. 1.27 crore. For renting office spaces, once again, Sector 16 seems a good option since the per square foot rent lies within Rs. 45 to Rs. 50 per sq. ft. Most of the other localities are very costly for buying or renting office spaces, so you may want to invest in Sector 16 and reap great returns.

If you are an industrialist, and are on the prowl for a big industrial plot, Faridabad, with its vast disposes of land, can be the ideal place. We’ve already seen many industrialists jump into the city; after all, it is the new upcoming industrial capital of the NCR region, after Noida. A massive 14,500 sq. ft. industrial plot would cost around Rs. 7 Crores.

Greenfield is another potentially good locality for both commercial and residential establishments. A commercial plot of around 200 square yards can cost around Rs. 1.8 Crores.

The rising rates of Faridabad properties are a clear indication of where the Faridabad real estate is heading to. The future of the city looks brighter than ever before. Big players like Omaxe and few others are investing heavily in constructing luxury and affordable housing solutions along with commercial establishments.

What is developing today will surely be developed very soon. The question is- Would you be a little patient and grow with the growth of the city?