Boom times for Faridabad real estate | INRnews

New Delhi, November 17, 2006 : Faridabad real estate has seen a sharp increase with a 70% increase in land prices in the last year and a half. The industrial town, home to many small-scale industries, is benefiting from the boom in the Delhi & NCR region, and with sky-high prices elsewhere, developers are now eyeing Faridabad as it is still lower priced than other areas.

Faridabad is now no longer an indutrial town but a city that promises malls, offices and modern townships, including a 1,500 acre township that has seen prices move from Rs. 6,000 per square yard for its first phase to Rs.9,900 per square yard now. While it does not have a star hotel at the moment, the Eros Group is developing a 180 room, four-star hotel in Faridabad and has tied up with the Radisson hotels group.

The Haryana government has also been making concerted efforts to get Faridabad connected with Delhi Metro Rail services by the year 2010 after getting it extended till Gurgaon. The Haryana Urban Development Authority(HUDA) recently demarcated new sectors between 67 and 90 as residential zones in its 2021 master plan.


By INRnews Correspondent

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