Faridabad fast emerging as a realty hotspot in NCR

The presence of multinational companies, manufacturing hubs, economic zones, and industrial corridors have strengthened Faridabad’s position in the realty market.

The residential market of Delhi-NCR has shown promising results in July-September 2021, which is a great sign for Faridabad’s housing market.

One of the biggest revenue generators of Haryana and the industrial town of NCR, Faridabad is taking giant leaps forwards in terms of development with infra boost and economic growth. The city is surrounded by Delhi, Gurgaon, Greater Noida, and Noida, and is easily accessible from popular business centers of the National Capital Region (NCR). The presence of multinational companies, manufacturing hubs, economic zones, and industrial corridors have strengthened Faridabad’s position in the realty market.

According to the sales data accumulated by PropTiger, Faridabad has recorded a sharp jump in housing sales at the beginning of this year which strengthened the market sentiments further. An industry analysis done by Anarock shows an increased demand for plotted developments in Faridabad due to several factors leading to the change in buyers’ preferences.

Additionally, the coming of global brands like the World Trade Center and DMart have propelled the commercial value of Faridabad to great heights. DMart stores will surely meet the requirements of the residents who were waiting for the latest amenities and good products at a great value in the vicinity. Owing to the global network, the presence of the World Trade Center in the city is likely to amplify its investment potential. Besides, an iconic commercial-cum-shopping space, Omaxe World Street, draws the attention of many investors and end-users in Faridabad. A hub of luxurious amenities, inspired by the high-street shopping concept, Omaxe World Street is a lifestyle-rich integrated development. Omaxe World Street is credited with infusing a new life in Faridabad’s real estate sector post the first wave of COVID-19 pandemic when not just sales but also footfall at this iconic retail destination witnessed a surge and gave a fillip to real estate in the city.

“Faridabad holds the rare distinction of being the only city in NCR through which India’s longest Expressway – the Delhi-Mumbai Expressway – passes. This and other infrastructure development to boost connectivity to Delhi, Gurgaon, Noida/Greater Noida, and Delhi & Noida International airports have brought the focus of home buyers and investors to Faridabad. The state government is also undertaking an integrated infrastructure & urban amenity-led development to provide to the people of Faridabad new-age living, working, and entertainment facilities. This along with the city’s affordability factor have opened new avenues for residential and commercial real estate,” said Mohit Goel, Managing Director, Omaxe Ltd.

The residential market of Delhi-NCR has shown promising results in July-September 2021, which is a great sign for Faridabad’s housing market. As Faridabad offers an array of these products along with affordability and sustainability elements, the homebuyers – majorly corporate professionals, millennials, and first-time buyers – are stepping ahead to invest in this region for a secured future. If the positive trends continue to favor the realty growth in the region, then Faridabad will soon emerge as the destination-next of the NCR region.

“The future of real estate development in NCR lies in Faridabad. The city has immensely bolstered its position with rapid commercial and residential development that has caught the eye of global and domestic investors. With infrastructure boost, growth in job opportunities, and upcoming large-scale projects, the demand for commercial spaces like grade-A offices, co-working offices, high-end shopping and business centers, warehouses, etc. is on a rise. The demand is mainly driven by the IT sector, manufacturing, BFSI, startups, and small businesses. Furthermore, affordability is the key driver leading the realty growth in Faridabad and the city is fast emerging as an investor’s favorite,” said Abhishek Pandey, Vice President-Customer Engagement & Distribution, Viridian RED.

The city boasts a presence of 30,000+ MSME units and many global companies have set their bases here, leading to the growth of employment opportunities, revenue, and demand for both commercial and residential spaces. India’s longest Delhi-Mumbai Expressway will pass through Faridabad providing easy access to the city. Gurgaon-Faridabad Expressway, expansion of metro rail, six-lane Mathura Road, etc. are also set to become a catalyst for the realty market of Faridabad.

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