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Last few years has seen a major change happening on the real estate radar of Faridabad city and city’s landscape is fast changing. What’s making it one of the hot destinations? What’s the current ground situation of residential real estate market?
Faridabad is the industrial town of Haryana and has seen growth on account of the industries in Faridabad (see inset)Â Focus on Infrastructure development, specially connectivity makes Faridabad a very interesting real estate destination, Faridabad is on broad gauge of railway line of New Delhi- Mumbai Line. The trains for big cities like Mumbai, Chennai, Hyderabad, etc are easily accessible from here. Delhi-Metro is likely to cover the city by 2012 as proposed by Government. Roadways services of Haryana and neighbouring states like Delhi, Uttar Pardesh and Madhya Pradesh, etc. are easily accessible. National Highway-2 (Delhi – Mathura Highway) passing through the city makes it well connected with Delhi. Faridabad, Noida Ghaziabad expressway (FNG) passing from Greater Noida will make easy connectivity to Noida, Greater Noida and Ghaziabad.
In the last 5 years, the city has experienced a big economic boom with skyscrapers, malls and architectural wonders filling the city beautifully. The malls offer a refreshing break with shopping and wholesome food and fun. Places like SRS Multiplex, Crown Plaza mall are just the beginning of an idea. 10 such malls by renowned builders like like Eldeco Station-1, Mall Manhattan by Parsavnath are in pipeline in and around Mathura Road (National Highway no.2).
AUGTICS carried out survey of residential projects that are developed by the private developers. Please note that not in distant past the real estate market was driven by re-sale of HUDA plots. But survey indicates that things are changing very fast.
Results of detailed survey
There are total 74 Residential Group Housing projects in Faridabad. Only 12 projects are completed where people are living. Other Projects are under construction and are supposed to be completed in the span of 2-3 years.
Population census – (2001- 10,54,981) projected current population 15 L
Faridabad, a part of  NCR, situated to the south of Delhi and located across the NH-2, Delhi-Madhura Highway. The city has been a hot tourist spot due to its nature filled environment. Badkal Lake and Suraj Kund are some splendid places to visit. Moreover, large Parks like Rose garden and Town Park also attract large visitors. Faridabad is an industrial town and famous for henna production on agriculture sector while tractors, motorcycles, switch gears, refrigerators, shoes and tyres are other famous industrial products of the city. The city also has a number of IT/ITes companies like Easy Infotech, Pixel India, Damco Solutions, Indiamart Intermesh Limited, NIIT centre, Telnet Technologies.
The city also has good options for education.
COLLEGES like : Niam Institute of Applied Management, , Aggarwal College, D.A.V. College, Govt. College, K.L.M Dayanand College for Women, Sarswati Mahila College etc. INSTITUTES like: YMCA Instt.of Engineering, Sudha Rustagi College Of Dental Sciences And Research, Career Institute of Tech., Echolon Institute of Engineering, Food Craft Institute, I.T.I., DAV Institute of Management, Govt. Ploytechnic, Govt. Polytechnic for Women,  Applied College Of Management & Engineering, Al-Falah School of Engg & Tech., Advanced Institute Of Tech. & Mgmt. and  Cement Research Institute, National Institute of Finance Management (M/o Finance), National Academy of Central Excise, Custom & Narcotics, Power Engineers Training Institute, Central Fertilizer Quality Control & Training Institute, Regional Directorate of Apprentice & Training(RDAT), Wireless Training Centre (Cabinet Secretarite), Oriental Insurance Staff Training College. SCHOOL:, Modern Vidya Niketan, Apeejay Sr. Sec. School,  Central School No. 1, Central School, DAV Public School, Delhi Public School, , Govt. Girl’s School, Gold field public school, Grand Columbus Public School, Manav Rachna International School, Ryan International School, St Albans School, St. John’s School, St. Anthony School, St. Joseph’s School,St. Thomas School Sh.S.D.Sr.Sec.School, Vidya Niketan
Conclusion
Amount of supply that is going to come in next few years is almost as much as what’s expected in Greater Noida. Once the planned connectivity with Gurgaon and Ghaziabad (via Grearter Noida) is done, once can expect major upward rise in the Faridabad real estate market. With adequate old and new infrastructure, education institutions and opportunities for jobs within Faridabad, will make it an attractive option for end users as well as prospective investors.
