Real estate boom in New Faridabad.
The builders feel this place has a bright future
Couple of years back, anyone would have thought of investing in a residential property in a place 10 km from Delhi in the interiors of Faridabad, people would have laughed at it. At that time nobody would have even thought that the mood would change so fast and people would be maing a beeline to buy property in New Faridabad, across Agra Canal. The pace of development and the keen interest shown by the investors in residential property here are pointers to the fact that New Faridabad is going to be the next destination in the National Capital Region.
Developers like Omaxe and BPTP have housing projects worth over Rs 10,000 crore in the area. Other builders like SPR Buildtech Limited, RPS Group, Piyush Group and California Country are also taking baby steps in the direction.
While BPTP and Omaxe are building housing projects catering to the middle class, SPR and California are into high-end skycrapers with luxury apartments and pent houses.
California Country director Anil Aggarawal said that New Faridabad has a very bright future. "Gurgaon is somehow unaffordable. Being a part of Uttar Pradesh Noida does not attract high-end clients for various reasons. Faridabad is the best option due to its affordability and proximity. With metro rail connectivity with Faridabad not too far, things go in our favour", he said.
SPR Buildtech Ltd. director Rajesh Nagar has other reasons to support the view. "The reasons are its connectivity with Delhi and the cost of flats with international standard construction and fixtures that is much cheaper than in neighbouring Gurgaon and Noida. New Faridabad has a direct link with Kalindi Kunj in Delhi along with Agra Canal. There are some rough streches on the road that are under repair. We are providing 24-hour pwoer and water supply which is unheard of in Faridabad," he said.
Nagar said his buyers are not only investors but end users as well. "A lot of people from Faridabad have booked flats as they find New Faridabad approachable and the civic amenities that we are promising are attractive. Buyers residing in Delhi and Gurgaon are finding it a cheaper and better option," he said.
Developers like Omaxe and BPTP have housing projects worth over Rs 10,000 crore in the area. Other builders like SPR Buildtech Limited, RPS Group, Piyush Group and California Country are also taking baby steps in the direction.
While BPTP and Omaxe are building housing projects catering to the middle class, SPR and California are into high-end skycrapers with luxury apartments and pent houses.
California Country director Anil Aggarawal said that New Faridabad has a very bright future. "Gurgaon is somehow unaffordable. Being a part of Uttar Pradesh Noida does not attract high-end clients for various reasons. Faridabad is the best option due to its affordability and proximity. With metro rail connectivity with Faridabad not too far, things go in our favour", he said.
SPR Buildtech Ltd. director Rajesh Nagar has other reasons to support the view. "The reasons are its connectivity with Delhi and the cost of flats with international standard construction and fixtures that is much cheaper than in neighbouring Gurgaon and Noida. New Faridabad has a direct link with Kalindi Kunj in Delhi along with Agra Canal. There are some rough streches on the road that are under repair. We are providing 24-hour pwoer and water supply which is unheard of in Faridabad," he said.
Nagar said his buyers are not only investors but end users as well. "A lot of people from Faridabad have booked flats as they find New Faridabad approachable and the civic amenities that we are promising are attractive. Buyers residing in Delhi and Gurgaon are finding it a cheaper and better option," he said.