Thursday, 26 March 2015

Metro connectivity proposed in Haryana Budget may push realty

The Faridabad metro link is predicted to function from this year. With the Haryana government’s monetary push as declared in the state budget, the NCR residents have welcomed the announcement with rejoice.

Capt. Abhimanyu, the state finance minister presented the budget in the Assembly that gave the much needed impetus on employment generation and infrastructure development. In fact, not just the Faridabad metro but the Bahadurgarh link also got monetary allocation and is scheduled to be completed by April 2016.

Once completed, Faridabad would also be one of those nodes of NCR that can boast about metro connectivity. Initially, the metro is being extended to areas such as Sarai, NHPC Chowk, Mewala Maharajpur, Sector 28, Badkal Mor, Old Faridabad, Neelam Chowk Ajronda, Bata Chowk, amongst others.

Owing to the metro connectivity, realtors are expecting better days ahead as the real estate market is yet to pick up in these localities and connectivity could be a the booster.

“Once the Faridabad metro gets operational, areas such as Neharpar and Greater Faridabad will be closer to metro route which is otherwise a 17km drive to Badarpur,” says Animesh Bhargav, one of the local property dealers in Faridabad.

Bhargav also quoted, that this might be the right time to invest as the prices would rise further once the metro gets operational.

“Although metro connectivity would change the ground reality but the area would be fit for use only after 2-3 years when infrastructure gets established completely and all basic amenities are available in close proximity,” says Bhargav.

Another property consultant in Faridabad, Rahul Suresh, said that currently the market is within affordable range where the prices varies between of Rs 3,000-5,000 per sq ft, equivalent to what is prevailing in Greater Noida, hence those investing purely for investment purpose can look for options in the area.

As per the surveyed data, there are number of plots and apartments available for sale in the area. Property values start from Rs 4 lakh and can go up to crores, depending upon the amenities and location of the property.

If you are someone looking forward to invest in Faridabad, this is the right time. Look for properties within your budget and book them before property values become unaffordable.

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