Farid­abad En route To Suc­cess

Some­where, be­tween the two Delhi - Ncr realty hubs of gu­ru­gram and Noida, the me­trop­o­lis of Farid­abad ap­pears rather in­signif­i­cant. shubhra saini finds out how this mi­cro mar­ket city is get­ting ready to bounce back on the map of Ncr.

Realty Plus - - Table of Content -

The ori­gin of Na­tional Cap­i­tal Re­gion (NCR) is traced to the rec­om­men­da­tion of the first ever Mas­ter Plan of Delhi in the year 1962. The prime aim was to re­duce the burden of in­creas­ing pop­u­la­tion in Delhi and the grow­ing de­mand for more com­mer­cial and res­i­den­tial space. The NCR en­com­passes the en­tire Na­tional Cap­i­tal Ter­ri­tory of Delhi as well as ur­ban ar­eas sur­round­ing it, in neigh­bour­ing states of Haryana, Ut­tar Pradesh and Ra­jasthan. Few cities, which shared bor­ders with Delhi (Noida and Ghazi­abad in UP and Farid­abad and Gu­ru­gram in Haryana) were marked out and their devel­op­ment plans were linked to Delhi. The city, which shone bright­est out of all these, in 1980s and 90s was Farid­abad/haryana. Noida in Ut­tar Pradesh was rel­a­tively un­known and Gur­gaon was merely a town across the Aravalis on the way to Jaipur. Farid­abad, be­ing on the main rail­way line, was the epi­cen­tre of in­dus­trial growth in North­ern In­dia. In 1990 with the dawn of the IT era, it started los­ing its sheen. The IT com­pa­nies needed air­ports and acres of land for its plush of­fice cam­puses. Farid­abad till then had cre­ated the im­age of a dust rid­den in­dus­trial town. Gur­gaon mean­while caught up on the BPO (Busi­ness Process Out­sourc­ing) trend and sped up its devel­op­ment to at­tract IT & ITES con­glom­er­ates. In fact, most of the credit for Gu­ru­gram’s emer­gence as an IT des­ti­na­tion goes to DLF which

cre­ated the ba­sic in­fra­struc­ture for these IT com­pa­nies. Ex­pan­sion of In­dira Gandhi In­ter­na­tional Air­port T2 Ter­mi­nal added to its glory. Noida [New Okhla In­dus­trial Devel­op­ment Author­ity] scored over other cities due to its prox­im­ity to Delhi. The rel­a­tively well con­nected in­fra­struc­ture at­tracted busi­ness of­fices and ed­u­ca­tional cam­puses. Many busi­ness units moved to Noida in lieu of tax ben­e­fits ac­corded to them. The progress for Farid­abad was al­most neg­a­tive in 90’s as all the ex­ist­ing in­dus­tries also moved away from Farid­abad be­cause of mul­ti­ple fac­tors like poor in­fra­struc­ture, bad power sup­ply, and en­vi­ron­men­tal is­sues. At present, Gur­gaon has be­come the epi­cen­tre of pre­mium and luxury res­i­den­tial real es­tate mar­ket, Noida has emerged as a safe haven for mid­dle and af­ford­able hous­ing projects while, Farid­abad with the Smart City tag and bet­ter con­nec­tiv­ity via metro and road to Delhi and other NCRS, Farid­abad is on the right track to re­gain its lost glory.

Prob­lems fac­ing farid­abad

Farid­abad at a dis­tance of 32 km. From Delhi is sit­u­ated on the Delhi – Mathura Na­tional High­way No. 2 that passes through the length of the city and is the cen­tral axis of the city of Farid­abad. Fur­ther, NH 3 and NH 4 also pass through the city. It is con­nected with Gur­gaon by the Gur­gaon-farid­abad road. As part of NCR pro­pos­als, con­nec­tiv­ity is pro­posed for im­prove­ment through the western pe­riph­eral ex­press­way (Kundli-mane­sar-pal­wal - KMP) and eastern pe­riph­eral ex­press­way (Kundli-ghazi­abad-pal­wal - KGP). The econ­omy of Farid­abad is more or less de­pen­dent on man­u­fac­tur­ing in­dus­tries com­pris­ing medium, small and mi­cro en­ter­prises. The city is dot­ted with sev­eral in­dus­trial units, set up in non-con­firm­ing lan­duse cat­e­gories, pri­mar­ily res­i­den­tial ar­eas. Such hap­haz­ard devel­op­ment has cre­ated civic, en­vi­ron­men­tal and health prob­lems for the in­hab­i­tants of Farid­abad. Trans­port de­mand in the city too has in­creased sub­stan­tially, due to in­creases in pop­u­la­tion as a re­sult of high lev­els of mi­gra­tion from ad­ja­cent ru­ral ar­eas and smaller towns. The city hardly has any road in­fra­struc­ture like ring road or by­pass road which add up to the traf­fic prob­lems. To con­trol the devel­op­ment of var­i­ous in­dus­tries in a sys­tem­atic way and dis­cour­age the un­planned growth, the re­gion re­quires an ef­fi­cient im­ple­men­ta­tion of

The Na­tional Cap­i­tal Re­gion (NCR) in In­dia is the coun­try’s largest and one of the world’s largest ag­glom­er­a­tions, with a pop­u­la­tion of over 47,000,000.

devel­op­ment strat­egy to give a per­spec­tive pic­ture of a fully de­vel­oped plan.

the NEW sce­nario

Farid­abad is the largest city and largest cor­po­ra­tion in Haryana. As an in­di­ca­tion of good times ahead, the ris­ing prop­erty prices in Gu­ru­gram, the other prom­i­nent city of Haryana state and planned devel­op­ment by HUDA (Haryana Ur­ban Devel­op­ment Author­ity) with clearly de­mar­cated sec­tors un­der res­i­den­tial, in­dus­trial, com­mer­cial and recre­ational are mak­ing Farid­abad a lu­cra­tive real es­tate. Farid­abad now has a Metro con­nec­tiv­ity - the Vi­o­let Line of the Delhi Metro con­nects Delhi to Farid­abad, and it will be ex­tended to Bal­lab­garh. Af­ter this, it will be ex­tended to Greater Farid­abad. The Haryana govern­ment is also plan­ning to link Gur­gaon and Farid­abad by a Metro for bet­ter con­nec­tiv­ity. For boost­ing road con­nec­tiv­ity, there are two bridges pro­posed over the Ya­muna which will con­nect Greater Farid­abad to Noida and Greater Noida. One of these will link Noida’s Sec­tor 168 with Farid­abad’s Badoli vil­lage (Near the By­pass Road). Fur­ther­more, the real es­tate ex­perts are hop­ing 2018 to be bet­ter for Farid­abad real es­tate be­cause of the devel­op­ment and ex­ten­sion of the Na­tional High­way-2 (the Del­hi­mathura Road). While, Noida and Gu­ru­gram lack the po­ten­tial to in­crease the prices and value of the in­vest­ment and are fac­ing ris­ing pres­sure over ex­ist­ing in­fra­struc­ture due to sud­den growth, Farid­abad’s in­fra­struc­ture is still con­trolled to a great ex­tent and it of­fers bet­ter chances for price ap­pre­ci­a­tion be­cause of lower price points.

af­ford­able hous­ing as usp

Farid­abad has be­come the af­ford­able hous­ing haven and is at­tract­ing end home buy­ers and in­vestors alike. As it is close to the in­dus­trial belt of Farid­abad, the de­mand for af­ford­able hous­ing is con­sis­tently in­creas­ing. Prop­erty rates in the re­gion are cur­rently in the range of Rs 3000 4000 per square feet and an­a­lysts are bullish over this prop­erty mar­ket as it has no in­ven­tory over­hang terming it a sta­ble mar­ket. As a mat­ter of fact, with fast track in­fra­struc­ture de­vel­op­ments and con­nec­tiv­ity all across the Delhi-ncr, Farid­abad is touted as one of the best among the af­ford­able des­ti­na­tions across the coun­try. Farid­abad is cur­rently an end-user/ buyer mar­ket and among the most af­ford­able seg­ments in the NCR belt. The unit prices and apart­ment sizes avail­able in Farid­abad suit the re­quire­ments of av­er­age house­holds. Go­ing for­ward, this re­gion’s real es­tate mar­ket is go­ing to wit­ness ad­di­tional im­pe­tus on ac­count of the im­proved con­nec­tiv­ity.

im­por­tant in­vest­ment lo­ca­tions

• Greater Farid­abad: Ne­harpar Area was rechris­tened as Greater

Some of the rea­sons for a slow­down in Farid­abad’s realty mar­ket are short­age of power and wa­ter sup­ply, in­com­pat­i­ble land use, pol­lu­tion, lim­ited en­ter­tain­ment and leisure op­tions, and poor im­ple­men­ta­tion of longterm strate­gic pro­pos­als. The whole na­tion faced the cas­cad­ing im­pact of the triple whammy of De­mon­eti­sa­tion, RERA and GST and Delhi NCR was the most im­pacted mar­ket, where un­sold in­ven­tory was the high­est. But, out of all the NCR cities, Farid­abad was the only mar­ket to show a trend of quick re­cov­ery.

Farid­abad in 2004-05 un­der the city’s Mas­ter Plan. The lo­ca­tion’s trac­tion point is its shar­ing bound­aries with Eastern Pe­riph­ery Ex­press­way, which con­nects with Ghazi­abad, Noida, Farid­abad and Pal­wal, mak­ing it an in­dus­trial cor­ri­dor. Greater Farid­abad may not be at par with Greater Noida or Greater Gur­gaon, but is fast emerg­ing as an af­ford­able hous­ing des­ti­na­tion. HUDA (Haryana Ur­ban Devel­op­ment Author­ity) is mak­ing all ef­forts to project the mar­ket as an in­vest­ment des­ti­na­tion and once op­er­a­tional the KMP (Kundli­mane­sar-pal­wal) Ex­press­way will con­nect the Ne­harpar area with Delhi and Gur­gaon. A three-km fly­over be­tween Delhi and Farid­abad which will ease traf­fic bot­tle­necks at the Badarpur bor­der has al­ready cleared the traf­fic bot­tle­necks in the area. Six-lan­ing of the ex­ist­ing by­pass road start­ing from Badarpur, par­al­lel to the Agra and Gur­gaon canals is fur­ther adding to its con­nec­tiv­ity.

• Su­ra­jkund: What works for Su­ra­jkund is its abun­dant green cover and prox­im­ity to south Delhi. Also, it is well con­nected with Gur­gaon via the Gur­gaon­farid­abad road and the Mehraulibadarpur road fur­ther en­hances its con­nec­tiv­ity with other NCR re­gions. Su­ra­jkund also has some good hos­pi­tals, malls and at­trac­tive ho­tels. The area also has many af­ford­able op­tions that drive mid­dle class end-users and in­vestors seek­ing prop­er­ties near Delhi.

• Green Val­ley: It is a posh lo­cal­ity of Farid­abad with all ba­sic ameni­ties and fa­cil­i­ties. This lo­cal­ity is very well-con­nected to South Delhi and is lo­cated within walk­ing dis­tance from Mathura Road, M.G. Road, the metro sta­tion, Crown Mall and Big Bazaar. The area’s prop­erty mar­ket is def­i­nitely wit­ness­ing a good price hike and the re­turn on in­vest­ment is in­creas­ing in this area. • Dayal Basti: Dayal Basti is a newer de­vel­op­ing area in Farid­abad lo­cated in close prox­im­ity to Old Farid­abad, NIT and Bal­lab­garh. There is a great de­mand for af­ford­able hous­ing projects in Dayal Basti. This lo­cal­ity is fa­mous for Na­tional Mu­seum and Tugh­laqabad Fort Com­plex. An­other at­trac­tion for this lo­ca­tion is the avail­abil­ity of good schools, col­leges and hospi­tal in and around Dayal Basti.

• NIT: NIT, or New In­dus­trial Town in Farid­abad, is gain­ing pop­u­lar­ity in real es­tate sec­tor due to its prox­im­ity to Bal­lab­garh, Old Farid­abad, Delhi and Gur­gaon. Peo­ple in­ter­ested in bud­get homes in close prox­im­ity to NCR and Delhi are aim­ing for this area. The ba­sic ameni­ties like wa­ter and elec­tric­ity are pro­vided by Mu­nic­i­pal Cor­po­ra­tion and Dak­shin Haryana Bi­jli Vi­tran Nigam re­spec­tively.

to­wards smart Devel­op­ment

Farid­abad Smart City Lim­ited (FSCL) has ini­ti­ated sev­eral mea­sures to im­ple­ment the smart city pro­posal in a planned and phased - man­ner. FSCL en­vis­ages in­vest­ing Rs 648 crores by end 2018 in al­most 10 sub-pro­grammes. Some of the ma­jor devel­op­ment projects that will be im­ple­mented in­clude smart road, smart e-toi­let, open air gym, rain­wa­ter har­vest­ing, gen­er­at­ing 15 KW power from so­lar en­ergy, in­te­grated com­mand and con­trol cen­tre etc. It has also adopted some long term mea­sures that in­clude re­ju­ve­na­tion of Bad­khal Lake and Lake­front Devel­op­ment, Barhai Talab etc. At pan-city level, it is pro­posed to de­velop smart traf­fic and tran­sit man­age­ment sys­tem with an ef­fec­tive IT sys­tem, us­ing lat­est tech­nol­ogy such as SCADA sys­tem for leak man­age­ment of wa­ter sup­ply, au­to­mated on­line wa­ter qual­ity mon­i­tor­ing sys­tem, pro­vi­sion of smart toi­lets and smart solid waste man­age­ment, Wi-fi, un­der­ground ca­bling, so­lar rooftops and LED street light­ing etc.

As per FSCL, they have started on­line pay­ment of taxes, set­ting up of ward level of­fices and a toll­free num­ber for a proper cit­i­zen griev­ance re­dres­sal sys­tem. A Mem­o­ran­dum of Un­der­stand­ing with the Na­tional In­sti­tute of Ur­ban Af­fairs has been signed for set­ting up in­no­va­tion Hub for ‘Ur­ban WASH’ so­lu­tions in Farid­abad. FSCL is also start­ing a mo­bile ap­pli­ca­tion that in­te­grates all the city ser­vices, pro­vid­ing more avail­abil­ity to cit­i­zens.

the Pos­i­tive trends

Farid­abad has, for the long­est time, been a small in­dus­trial town and could not cre­ate a strong de­mand for of­fice spa­ces for cor­po­rates. With Farid­abad’s con­nec­tiv­ity with other key ar­eas such as Delhi, Gur­gaon and Noida im­prov­ing in re­cent years, the sit­u­a­tion is likely to change driv­ing the res­i­den­tial de­mand. The new ini­tia­tives like Farid­abad con­nec­tion to Delhi Metro, smart city list­ing and green sig­nal for Farid­abad Mas­ter Plan 2031 has given a new ray of hope to the real es­tate sec­tor of Farid­abad. The main mo­tive be­hind these steps is to de­velop the so­cial and res­i­den­tial in­fra­struc­ture of the city apart from the co­he­sive in­dus­trial devel­op­ment. Ad­di­tion­ally, the state govern­ment is en­cour­ag­ing small & big in­dus­tries, ed­u­ca­tional in­sti­tutes and IT com­pa­nies to set up base here. IMT Farid­abad is a flag­ship in­dus­trial town­ship of HSIIDC. It is po­si­tioned on the Mathura Road over an area of 1,800 acres. In­dian Oil Cor­po­ra­tion Lim­ited (IOCL) is con­struct­ing their re­search and devel­op­ment cen­tre over there. All these de­vel­op­ments ease the way for ex­cel­lent in­fra­struc­ture de­vel­op­ments in Farid­abad, which ac­cord­ing to real es­tate de­vel­op­ers and ex­perts will also ben­e­fit in­vestors and end users in the city. Along with swanky res­i­den­tial projects like Charm­wood Vil­lage (Royal Re­treat I, Royal Re­treat II) by Eros Group, Park­lands by BPTP, Piyush Heights by Piyush Group, there are com­mer­cial projects like EF3 Mall and sev­eral oth­ers un­der con­struc­tion. A num­ber of malls like Crown Plaza Mall, Good Store and Life­style, have al­ready come up in the area. Ed­u­ca­tional in­sti­tu­tions, such as Apee­jay School Farid­abad, Ech­e­lon In­sti­tute of Tech­nol­ogy, Modern Delhi Pub­lic School, Palm Beach School for Autism and the In­sti­tute of Avi­a­tion Man­age­ment, have also come up. Health­care fa­cil­i­ties in­clude Apex Di­ag­nos­tics and Poly­clinic, Kilkari Pae­di­atrics Clinic, Di­agno Aide Pathol­ogy Lab and Kalra Child Care Cen­tre. All this in­fras­truc­tural devel­op­ment is now at­tract­ing realty ma­jors to plan big and bring in projects that are of in­ter­na­tional style and stan­dards. A num­ber of real es­tate ma­jors have planned big to tap the emerg­ing de­mand for projects with state-of-the-art in­fra­struc­ture and equipped with the lat­est life­style fa­cil­i­ties. there were around 24 lo­cal­i­ties in Farid­abad that had re­ported a bet­ter price list­ing and the an­nu­al­ized rental yield in Farid­abad has wit­nessed a growth rate of 3.69%. Though the growth in­dex is not that strong, it is ex­pected to grow in the com­ing days, mak­ing Farid­abad one of the best res­i­den­tial mar­kets in the com­ing time for both end users and in­vestors.

farid­abad City

greater farid­abad

metro line, farid­abad

mas­ter plan, farid­abad

sites in farid­abad

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.