Major Realty Boost in Faridabad

If you are on the lookout for profitable Real Estate, Faridabad is the place to be!?

As a result of significant infrastructure and connectivity improvements, the National Capital Region (NCR) is experiencing unprecedented?growth?in?its?Real Estate Market.?Faridabad is drawing heavy attention?in this regard. In this edition of PropWeekly, we’ll decode the ‘why’ behind this.?

We’ll also look at some?recommended reads?that will help you with?Real Estate Taxes in India.?

Let’s get started!

Key developments spurring growth in Faridabad and beyond:?

?? Greater Noida-Faridabad Transit Bridge for better connectivity with NCR

• Once functional, The GNF Bridge will lower transit between Greater Noida & Faridabad to 20 minutes. Also, commuters can by-pass the Delhi route and directly reach Greater Noida.
• Additionally, it will smoothen the transportation between Jewar International Airport and Gurgaon, Noida, and Greater Noida.
• In the future, it may connect Faridabad to the Yamuna Motorway, allowing for interstate travel between Gurgaon, Faridabad, Agra, Palwal, and Mathura. It will also connect Faridabad to National Highway 19.

?? Delhi-Mumbai Expressway will connect industrial zones

• It is will link industrial zones in the Faridabad-Sohna stretch with Mumbai.

?? FNG Expressway will enhance transportation across cities

• Once functional in 2026, it will connect to the Faridabad Bypass Motorway at Shahpur, and it will provide simple access throughout the NCR.
• A connection between the FNG Expressway & DDA (Delhi-Dehradun Expressway) is being planned by the NHAI (National Highways Authority of India).
• Further, the DDA Expressway will also connect to the National Highway 9 and the Northern Peripheral Expressway. It will lower travel time from Faridabad to Noida to a whopping 15 minutes.

?? Other Factors Pushing Real Estate Growth in Faridabad

• Faridabad recently inaugurated the New Amrita Hospital with 2400 beds (India’s biggest private hospital).
• It has witnessed sizeable growth of MNCs, medium and small-scale manufacturing entities, and other large-scale entities.
• The Faridabad Master Plan 2031 will also boost the Real Estate Market.
• Other significant developments include the renovation of Mathura Road, the Eastern Peripheral Motorway, and the extension of the Delhi Metro to Raja Nahar Singh in Faridabad.

???Our take:

• The oldest satellite town of Delhi, Faridabad, previously had little connectivity with other satellite cities, but this has changed. Thanks to several transport linkages.
• Owing to the better connectivity, the housing & commercial property market will see a major boost in Faridabad.
• The industrial zone connectivity due to Delhi-Mumbai Expressway will boost the commercial Real Estate market in the region.
• Faridabad also offers diverse Real Estate options, including townships, gated communities, apartments, plotted developments, and independent floors, which is another reason for the higher number of buyers in the city.

Recommended Reads-

1. Property Tax in India: What is it and how is it calculated??
2. TDS on Sale of Property: What You Must Know
3. All You Need to Know About Capital Gains and Taxes on Sale of Property in India

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