On the Metro track to development
high recovery and receipts of revenue, salaries paid to staff on time, adequate number of toilets in the city, online grievance facility and a mobile app to pay taxes online. “We are currently in the process of drawing up a city sanitation plan that will include augmentations of public toilets, waste management that will include door to door collection of waste and transportation of waste. Under the smart city plan we also hope to augment drainage systems, drinking water supply, create more footpaths and cycle tracks.”
Navdee p Chawla, president, Faridabad I ndustry Association ( FIA) says that once there is clear and clean connectivity by road after widening of the NH2, the city will be “able to procure better talent from Delhi due to improvement in connectivity.”
Adding to Faridabad’s attraction as a business hub, land was allotted in its Industrial Model Township (IMT) to Banaskantha District Co- operative Milk Producers for their expansion project to supply milk and prepare milk products marketed under the Amul brand. Another plot measuring two acres has been allotted to Balmer Lawrie and Co Ltd, a government of India enterprise under the ministry of petroleum and natural gas for setting up of multi-commodity temperature controlled warehouse. Haryana has also agreed to a proposal by Noida Authority to build two new bridges on the Yamuna river that will connect Noida and Faridabad to ease traffic as well as travel time.
Real estate experts are of the view that the market will start looking up once road connectivity and corporate activity improves. Right now, industrial plots on both sides of NH2 have been taken up by automobile showrooms and workshops such as Nissan, Toyota, Volkswagen, Toyota, Chevrolet etc. These road-facing properties, according to Anckur Srivasttava of GenReal Advisers, are equivalent to Grade A office spaces, and command t he highest rents. First and foremost, any delay in construction is on you, so make sure you do not agree on a full down payment offer in exchange for a discount in price. No amount of discount can justify the additional risk that you take on this account. It is always advisable to go for a construction-linked plan for a property so as to ensure that your exposure is proportionate to the stage of completion of the property. Secondly, for most interest subvention schemes in the market, the buyer does not pay any EMI during the construction stage of the property for the first two years of the loan period. The pre-EMI interest for the first two years will be paid by the builder/