Small Cities Getting More Attention

Published: September 8, 2009

The ever rising property prices have created the need to look for newer realty destinations  and most of the people these days are showing interest for small cities. The upcoming land of dreams for buyers as well as developers is Neharpar in Faridabad. It is emerging as the new realty investment destination. It is supposed to become the big realty junction of NCR in near future. The development work is going on its best in this city and the most attracting point is that prices are much affordable.

The annoying part on the way driving down from Delhi is the mammoth traffic near Badarpur Border. However, connectivity will no longer be a problem once the construction of the flyover at Badarpur by Hindustan Constructions Co Ltd (HCC) is complete. The work has already been started. And to lure the real estate developers even more, there are other developments too. The development of Taj Expressway (near Sector 80), and a highway starting from Kalindi Kunj and running parallel to Mathura Road that will bypass the city - will only add up to the valuation of the area.

HUDA is also widening the existing bypass at Sector 37, which includes the construction of a flyover over it. Municipal Corporation of Faridabad (MCF) has notified Sector 79 in the area as a commercial district.

The government has imposed Section 17(4) of Land Acquisition Act for compulsory acquisition of the land falling under sector roads, ensuring the development of sector roads in the area adding much to the relief of the buyers. All the sector roads will be 30-45 meters wide Sector 79 being 60 meters wide, internal roads in Neharpar will be 24 meters wide. Another reason to make the area more sought after by the buyers is that there is no plan for an increment in the External Development Charges (EDC) for Faridabad by the government.

The government is also offering maintenance of greenery in the area. “The greening of Faridabad shall be taken care of, in the same manner as we have reserved a whole area, Sector 52A in Gurgaon as the green area,” says a HUDA official.

The residential sectors in Neharpar will be Sectors 75-78 and Sectors 80-89. As of now, the area can’t boast of a very good infrastructure, but once taken care of, the location is going to be very good. The examples of Indirapuram and Greater Noida must be kept in mind, which used to be neglected areas a few years ago.

“Prices of plots, which are mostly available in resale in Neharpar sectors range between Rs 9,000 and Rs 12,000 per sq yd. For flats, the rate is approximately Rs 1,800 per sq ft. The rate of an independent floor of 300 sq yd is around Rs 27 lakh,” as quoted by P Mishra, real estate consultant at Sainik Estates. Opening of Badarpur flyover and the plan to get Metro in Phase III will obviously ensure the area bustling with activity.

Faridabad boasts of being an industrial city with nearly 300 large and 10,000 small scale industries. However, the area has always been under priced. But it seems that the situation is about to change with all the developments taking place and the presence of some big developers like Omaxe, Puri, SRS, RPS etc.. BPTP has a major portion of land in this area, about 1,500 acres. Sector 81 has a notified SEZ by BPTP. They are awaiting clearances for it BPTP has got a power station of 30MW sanctioned for Sectors 75-76. They have applied for a 50MW substation for Sectors 82-89.

The area will surely visit corporates moving towards it as rates at Jasola are a bit high. It is a good long term investment option, as the rates are affordable and once the development in and around the area takes place, prices will definitely go up.

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1 Comment so far

  1. Dinesh September 21, 2009 1:34 pm

    When all this development work will start in Naharpar area. It has already despressed lots of cutomers.

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