FARIDABAD GOOD FOR MIDDLE-CLASS BUYERS
Faridabad has emerged as a playground for some of the most distinguished and prominent real estate developers. TEAM TIMES PROPERTY writes
Despite stiff competition from emerging industrial and residential hubs in the NCR, Faridabad continues to attract several large and medium-scale real estate developers and promoters.An official of Huda says that they have plans to make Faridabad the best city of Haryana and have put in place a complete city development programme (CDP), which will assure top-class infrastructure in this emerging city.
Realty players like BPTP, Puri Construction, KLJ Town Planners, RPS, SRS, Omaxe, etc, have already launched housing projects here with several of them nearing completion. Looking at the realty market and the improving infrastructure in Faridabad, other top realty players like Assotech Ltd, Gardenia Group, and TDI are also planning integrated township projects here.
According to the NCR Regional Plan 2021 for Faridabad, the population of this emerging city is likely to touch 21.3 lakh by 2021. The growth rate has been very rapid during the last three decade. Keeping this in mind, the Town and Country Planning Department of Haryana has prepared a 20 year development plan for Faridabad. Huda is acquiring land and developing new sectors in Faridabad. Given the rapid pace of development, the CDP observed that there is a need for a revised development plan incorporating all the proposals in the NCR Regional Plan.
The CDP has proposed the acquisition of about 465 acres for various sector development proposals by the Huda and the Municipal Corporation of Faridabad (MCF) and also for various NCR transport proposals.
The CDP further suggested that there be common building regulations and bylaws for all development-plan implementing agencies like the Huda and the MCF. The bylaws should also incorporate decongestion proposals like accommodation reservation, introduction of parking norms, and zonal regulation, etc, the CDP said. Faridabad gets a huge floating population from Delhi.
The CDP has proposed to convert the city into 'a city without slums' by providing safe living environment for urban poor with provision of services (part of overall services programme) and housing. In line with this, 15,000 low-cost houses are to be built in the next six years at Rs 1.45 lakh per unit. It is hoped that half of the existing slum population will be relocated into these units.
Also, the CDP has suggested 10% beneficiary contribution from all slum households proposed to be shifted into the new houses to promote ownership. Decent infrastructure would be developed and amenities provided for the remaining slum population, at the very place they are living now.
An old industrial township, Faridabad continues to attract investors, developers, industries, and service sector setups. Faridabad has a number of things going for it: the 1,483km-long Delhi-Mumbai Industrial Corridor (DMIC) in the vicinity, an industrial model township (IMT) over 1,750 acres, and the rapidly developing Neharpar area of Faridabad will lift the profile of this emerging city and foster a new wave of industrial, commercial, and residential development.
The CDP envisions rapid infrastructural development to boost the local economy which found support with the stakeholders, who want Faridabad to be made a model town with matching urban services and efficient governance.
On the connectivity front, Reliance Infrastructure has a 66km road project on high density traffic zone involving the four-laning of Gurgaon-Faridabad Road and improvement of Ballabgarh-Sohna Road on a build-operate-transfer
basis. The 180km stretch of
NH-2 (Faridabad to Agra) is going to be widened.
The project is to be executed
under by Reliance Infrastructure on a DBFOT (Design, Build, Operate, Finance, and Transfer) basis; it will widen the stretch from four to six lanes under NHDP Phase V at a cost of Rs 2,945 crore. This stretch is a part of the golden quadrilateral and the historic Grand Truck Road. It connects major cities like Delhi, Faridabad, Ballabhgarh, Palwal, Kosi Kalan, Mathura, and Agra. NH-2 is well connected with west, north and south Delhi, and with states like Haryana, Punjab, Chandigarh, Himachal Pradesh, and J& K. The Delhi Agra Toll Road Pvt Ltd (DATRL) road starts from Badarpur Border and ends before Yamuna Bridge, Agra city.
The 180km-long stretch covers Haryana and Uttar Pradesh. Commuters travelling between the IGI airport, Delhi, and Agra can now take a new and convenient route through the 25km-long Gurgaon-Faridabad Road. This route to Agra via Gurgaon will be cost effective as the total toll for a car would be Rs 196, compared to Rs 347 to be paid if travelling via Noida toll bridge and the accesscontrolled Yamuna Expressway.
NH-2 is considered as the most convenient route for international tourists travelling to Delhi, Mathura, and Agra. It touches major cities and towns like Delhi, Gurgaon, Faridabad, Ballabhgarh, Palwal, Hodal, Kosi, Vrindavan, Mathura, and Agra. The stretch also covers tourist destinations like Surajkund, Badkhal Lake, Jagmohan Temple, Shivling Temple at Hodal, Banke Bihari Temple, Radha Krishna Temple, Radha Kund, Kokilvalam Dham, Shani Temple, and ISKON temple.
Metro line: Work on the 13.8km-long Metro line from Badarpur to Faridabad's YMCA Chowk is in progress. The Metro is slated to stop at NHPC, Maharajganj, Sector 27A, Badkhal Chowk, Old Faridabad, Ajronda, Sector 12, and YMCA.
The NHAI (National Highway Authority of India) has cleared the DMRC's proposal for change of alignment from the middle of NH-2 to the left side of the national highway from the Badarpur side. The Haryana government has already approved a budgetary allocation of Rs 1,588.6 crore for the extension of the Delhi Metro to Faridabad.
Local connectivity: The 4.4km-long elevated six-lane road, the Badarpur Flyover, which connects Delhi to Sector 37 in Faridabad has come as a huge relief to thousands of commuters who use this road daily. Nearly 70,000-80,000 vehicles use this road every day.
Realty scenario: Neharpar area is developing as a new realty hub of Faridabad. The area is spread in different sectors of the city, including Sectors 75, 76, 81, 82, 85 and near posh Sectors 14 & 15. It is expected to be the preferred site for people coming from different pockets of Faridabad and Delhi.
A number of developers like BPTP, Omaxe, SRS, Puri Construction, Universal Group, ORS Infrastructures, Iris Abode Pvt Ltd, RPS, etc, have big projects in the area. BPTP has a major land bank of 2,000 acres here and has several projects here, like Park Floors, Park Grandeura, Princess Park, The Resort, and Park Elite Floors.
Puri Construction's Puri Pranayam in Sector 82-85, KLJ Town Planners' KLJ Espana, KLJ Greens, and La Vista in Sector 77, Era's Redwood Residency in Sector 78, SRS Group's SRS Residency in Sector 88 and SRS Royal Hills in Sector 87, RPS Group's Savana in Sector 88, Omaxe Group's Omaxe Spa Village and Omaxe New Heights in Sector 86, SPR Buildtech Ltd's Imperial Estate in Sector 82,Umang Realtech's Summer Palm in Sector 86, Universal Group's Universal Greens and Iris Abode Pvt Ltd's Golden Tulip in Sector 63, etc, offer premium homes, villas and independent floors with all the lifestyle facilities.
AN OFFICIAL OF HUDA SAYS THAT THEY HAVE PLANS TO MAKE FARIDABAD THE BEST CITY OF HARYANA AND HAVE PUT IN PLACE A COMPLETE CITY DEVELOPMENT PROGRAMME (CDP), WHICH WILL ASSURE TOP-CLASS INFRASTRUCTURE IN THIS EMERGING CITY