Faridabad, Delhi’s oldest and one of major satellite towns, is poised for a 360-degree makeover, which will boost the real estate sector’s prospects in the region in a big way.

An ambitious master plan, recently unveiled by Haryana Chief Minister Manohar Lal Khattar, will comprehensively redefine Faridabad’s urban landscape and elevate its stature as a pre-eminent residential and commercial hub. The plan, being prepared by IIT Delhi and IIT Roorkee, will completely transform the city’s future.

A Holistic Vision for Faridabad’s Development

“The new master plan is a testament to the state government’s commitment to bolster Faridabad’s real estate potential. It envisions a holistic development strategy, addressing infrastructure and public services in the Faridabad Metropolitan Region. Faridabad has a population of 1.5 million and is expected to rise further by 2031. In this regard, the master plan will also be a key enabler to accommodate the incremental growth in population and pave the way for sustainable development,” says Sanjeev Arora, Director, 360 Realtors.

The master plan will emphasize on new roadways, community centers, sewage systems, power generation, etc. Likewise, “it will also incorporate developing new healthcare centers, schools, and entertainment hubs, thereby giving a facelift to the overall livability index and managing the requirements of the local population. Another important aspect is systematically investing in multiple industries including electronics, automobiles, IT, start-ups, textiles, etc. This will further augment the process of economic prosperity and growth and also drive realty demand,” adds Arora.

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“This master plan isn’t solely a development blueprint; rather, it signifies a dedicated effort to metamorphose Faridabad into a bustling urban hub, presenting top-tier residential and business prospects. It aims to furnish the city’s inhabitants with superior amenities and infrastructure, catalyzing the growth of real estate, both residential and commercial. This growth is further propelled by recent connectivity enhancements, such as the link to Jewar Airport via FNG Expressway, Delhi-Mumbai Expressway and various other infrastructure advancements,” says Rohit Mohan, Senior Vice-President, BPTP Group.

Faridabad’s Evolving Real Estate Landscape

Historically known as an industrial suburb, Faridabad has witnessed a massive transformation in recent years. Situated strategically on the Delhi-Mathura Road, it has become one of the most sought-after residential destinations in the National Capital Region (NCR). With real estate development expanding its regional footprint, Faridabad has emerged as a frontrunner among NCR’s satellite towns.

“Faridabad’s growth trajectory has been impressive. Its strategic location and ongoing infrastructure projects make it an attractive proposition for investors and homebuyers alike. Several key infrastructure projects have played a pivotal role in propelling Faridabad’s real estate potential, boosting the region’s real estate prospects. But the recent plan announced by the State Chief Minister will take Faridabad at another level, enhancing the realty’s value proposition manifold,” says Mohit Goel, MD, Omaxe Ltd.

The construction of the Faridabad-Noida-Ghaziabad (FNG) Expressway and the Eastern Peripheral Expressway (EPE) has significantly enhanced connectivity. Additionally, the KGP Expressway and the Manjhawali Bridge have shortened travel distances and improved accessibility.

Furthermore, the upcoming Delhi Mumbai Expressway, with a spur to Jewar Airport, will open up new opportunities for real estate development. The proximity of Neharpar Faridabad to Sector 75, Greater Noida, and the Yamuna Expressway enhances its appeal as a real estate hub.

Assessing the Urban Landscape for Strategic Redesign

One of the cornerstones of this ambitious plan is a detailed survey conducted in collaboration with IIT Delhi and IIT Roorkee. This survey aims to meticulously assess Faridabad’s urban landscape, identifying areas that require improvement and redesign to align with the city’s development schemes. This data-driven approach ensures that resources are allocated efficiently to address the city’s most pressing needs.

A Bright Future Beckons

Faridabad, Delhi’s oldest satellite town, has long been in the shadow of its neighbouring cities. However, recent government initiatives and strategic infrastructure development have changed the narrative. Faridabad is now well-connected to other satellite cities, fuelling optimism about its real estate prospects.

As the city undergoes a transformation under the comprehensive master plan, developers, investors, and residents alike eagerly anticipate a bright and prosperous future. According to industry experts, Faridabad is poised to reclaim its position as Delhi’s most preferred satellite town, surpassing the competition and emerging as a beacon of urban development in the NCR.