Highlights
- Greater Faridabad’s real estate is booming due to crucial infrastructure developments.
- The Greater Noida Faridabad Transit Bridge will reduce travel time, linking Faridabad to critical areas.
- The Delhi-Mumbai Expressway will enhance connectivity, attracting investments in various industries.
- Amrita Hospital and the upcoming Noida International Airport contribute to the region’s appeal.
- Faridabad’s lower cost of living makes it preferable to Noida, Gurgaon, and Delhi.
- Affordable housing options include apartments, independent villas, builder floors, and plots.
- Commercial opportunities exist in shops, offices, and industrial spaces, driven by growing connectivity.
- Faridabad emerges as a promising investment destination with diverse property choices.
Introduction
The real estate industry in the National Capital Region (NCR) is seeing unparalleled expansion and resurgence, primarily due to significant improvements in infrastructure and connectivity. One of the most prominent real estate hotspots for investors and end users is gradually emerging in Faridabad.
Why is Greater Faridabad Real estate booming?
Greater Faridabad is quickly becoming one of the biggest real estate hubs, and there are many reasons for it. Let’s find out the top reasons for the boom in real estate in Greater Faridabad.
- Greater Noida Faridabad Transit Bridge
Faridabad is the oldest satellite town of Delhi but was ignored due to the lack of connectivity. The transit bridge, developing over the river Yamuna for Rs. 315 crore, will be the primary connectivity between Faridabad and Greater Noida. This transit bridge will help lower the time between Greater Noida and Faridabad by 20 minutes. The transit bridge will also link Greater Faridabad to National Highway 19 and extend to the Yamuna Expressway. - Delhi Mumbai Expressway
The government has taken the responsibility of building the Delhi Mumbai Expressway for Rs 98,000 crore. This expressway will link the Faridabad-Sohna stretch of industrial zones with Mumbai. This expressway contributes to the booming real estate market in greater Faridabad, as it is also a significant investment in several industries. - Amrita Hospital
Another reason that contributes to the rising demand for properties in greater Faridabad is the establishment of Amrita Hospital. It is known as the most significant private sector hospital in India which is built on 133 acres of land in Faridabad. Moreover, the hospital was inaugurated by PM Narendra Modi and had 2,400 beds at the time of inauguration. - Jewar Airport
Asia’s biggest airport, the Noida International Airport, is scheduled to be operational next year, which is 2024. This airport will bring more development opportunities to the industrial towns of Haryana, such as Faridabad. Due to the connectivity of the Delhi-Mumbai Expressway, both international airports will be a 30-40 minute drive away.
Are people preferring Faridabad over Noida/Gurgaon/Delhi due to the cost of living?
Yes, you heard it right. People prefer Faridabad over Noida/Gurgaon and Delhi due to the lower cost of living. Faridabad stands as the 26th state of India out of 220 on the list of the least expensive cities in India. It ranks 8937th on the global list and 3rd on the list for Haryana.
The cost of living in Faridabad can vary based on individual lifestyle and preferences. When considering necessities, the average cost of living in Faridabad is around Rs.30,000. Let us break it down so you can get a clear understanding of the average expenses you might face after residing in Faridabad.
- Dining out or having lunch in Faridabad is affordable and can cost you around Rs.150 – Rs.200 for a single person and Rs.500 for two.
- If you are a Saturday night person and enjoy clubbing and drinks, it can cost you Rs.1000 and more.
- Now, if we talk about housing expenses like the rent of a 1-bedroom apartment in the centre of Faridabad, then it will cost you around Rs.8,000 or even less if you live a little away from the market.
- Whereas a three bedroom apartment will cost you around Rs.15,000 to Rs.20,000 in the clean society of Faridabad.
- Talking about the utility bills for one person can range from Rs.3000 to Rs.5000 for a family of 4.
- Transport in Faridabad is more affordable than in Delhi. You can book your cabs using an online cab booking app at an affordable price.
What types of properties are available in Faridabad?
Numerous upcoming developments in Faridabad will meet the requirements of every person looking for real estate. In the upcoming years, Faridabad will have a variety of housing alternatives. It still has a variety of residential and commercial property types. There are many different kinds of properties available, from duplexes and land to reasonably priced flats and apartments. Let’s check them out.
- Apartments
Faridabad is home to many apartments ranging from cozy 1 BHK to luxurious penthouses. Popular localities in Faridabad, which include reasonably priced lavish apartments, include Sector 88, Sector 86, Sector 75, and Bhupani. The price of residential apartments in Faridabad starts from Rs.25 Lakh for 1BHK and Rs.70 Lakh for 3BHK. - Independent Villas
Are you looking for more independent and spacious living in Faridabad? Here are a few popular areas in Faridabad that you can check out, namely Gr Avenue, Standalone Building, and Frontier Ridgewood. The price range for a 2500 sq. ft. independent villa starts from Rs.80 Lakh and can range up to 18 crore for 9000 sq. ft. - Builder Floors
Builder floors are a blend of convenient apartments and spacious individual houses. These are multi-story buildings that offer independent floors to each family with modern furniture at the most affordable prices in Faridabad. The price range for builder floors starts with Rs.30 Lakh for 1 BHK and can go up to Rs.70 Lakh or more for a 3 BHK floor. - Plots
Are you dreaming of building your dream house in Faridabad? Look no more, as Faridabad offers residential plots in the popular sectors 89 and Tajpur. You can get plots in Faridabad starting at a reasonable price of Rs.5 Lakh. - Commercial Shops
Faridabad has many commercial markets, which makes rental shops a significant investment in real estate in Faridabad. A few of the areas of commercial shops in which you can invest are Old Faridabad, NIT, and Sector 17. Commercial shops in Faridabad start with a price range of Rs.20 Lakh for 30 sq. yd. and can go up to Rs.10 Crore for 1000 sq. yd. - Offices
Faridabad is on its way to becoming the next office hub due to its connectivity. The growing industrial and commercial areas of Faridabad offer a wide range of offices and spaces for rent. You can check out a few commercial hubs in Faridabad, such as Sector 70 and BPTP Parklands. An under-construction office space can cost you Rs.50 Lakh for 650 sq. ft., while a 6,000 sq. ft. space will cost you Rs.4.5 Crore. - Industrial Spaces
Faridabad provides a variety of industrial plots and sheds for sale or rent, catering to the city’s industrial industry. These areas are appealing to companies looking to expand in the area because they are perfect for activities related to manufacturing, storage, and logistics. The average cost of industrial spaces in Faridabad is Rs.53.24 Crore for 9680 sq. yd., while if you are looking for a 630 sq. yd. area, then the starting price is Rs.70 Lakh.
Conclusion
In conclusion, Faridabad is not just a city; it’s an investment opportunity waiting to be seized. With strategic infrastructure developments, lower cost of living, and diverse property options, Greater Faridabad is carving its place as the next real estate hub in the NCR. As the city unfolds its potential, now is the time for investors and home seekers to make their move and be part of Faridabad’s transformative journey.
References
- https://www.financialexpress.com/money/faridabad-to-be-the-biggest-beneficiary-of-noida-international-airport-2380612/
- https://www.financialexpress.com/money/faridabad-the-emerging-real-estate-hub-for-investors-and-end-users-3055171/
- https://www.news18.com/business/faridabads-amenities-the-positive-for-upgrading-regions-real-estate-7048219.html
- https://www.financialexpress.com/money/key-developments-which-will-make-faridabad-a-realty-hotspot-2691102/
- https://costoflive.com/cost-of-living/in/faridabad
- https://livingcost.org/cost/india/hr/faridabad
- https://www.99acres.com/property-in-faridabad-ffid
- https://www.magicbricks.com/property-for-sale-rent-in-Faridabad/residential-real-estate-Faridabad
- https://www.squareyards.com/sale/property-for-sale-in-faridabad
