Faridabad, nestled amidst Noida, Gurgaon and Delhi, has been the epicentre of real estate development over the last few years. More availability of residential and commercial plots and affordable housing compared to neighbouring cities in the National Capital Region has played a vital role in attracting more real estate investment in Faridabad. This, coupled with the upcoming Delhi-Mumbai Expressway, new metro lines between Faridabad and Gurgaon and Faridabad-Noida-Ghaziabad Expressway, have been fuelling growth and property prices. However, many localities are still in the budget segment, garnering price-sensitive buyers. Here is a list of the top three affordable housing localities in Faridabad.
Know your neighbourhood well
About 10 km from Sant Surdas Metro Station and nearly 13 km from New Industrial Township, Sector-72 in Faridabad is a developing housing hub. Easy access to major roads, such as Faridabad Bypass Road, Faridabad-Gurgaon Road and the upcoming Faridabad-Noida-Ghaziabad (FNG) Expressway, strengthen the area’s connectivity to major employment hubs in the National Capital Region (NCR).
The sector offers a mixed inventory of plots, builder floor units and society apartments by home-grown developers. The property prices here witnessed about a four percent YoY hike, averaging around Rs 2,800 per sq ft. The average 'ask' for a 3 BHK apartment in the sector hovers between Rs 40 lakh and 65 lakh.
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Sector 64, nestled along Faridabad Bypass Road, is about four km from Ballabh Garh Railway Station and Raja Nahar Singh Metro Station. The proximity to Ballabhgarh Industrial Area and several educational institutions make the sector a prominent homebuying and rental destination in the city. Additionally, easy access to the upcoming FNG Expressway is expected to provide better connectivity to both Noida and Ghaziabad.
The sector houses ample residential lands and apartments, with property prices averaging at about Rs 3,500 per sq ft. Several home-grown builders, including Adore Realtech, offer most of the residential properties in the sector. An average year-on-year property price appraisal in Sector-64, Faridabad, stands at around three percent.
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Known for its self-sufficient social infrastructure and ample residential properties available for sale, Sainik Colony is among the most preferred localities in Faridabad. About six km from Bata Chowk Metro Station and five km from NH-19, the locality provides robust inter-city connectivity. Proximity to major shopping hubs, such as Parsvnath Manhattan, Bengali Market, Crown Plaza and SRS Shopping Mall, makes daily grocery shopping easier for the residents. Additionally, the proposed solar plant in the locality would help improve the power supply, adding to the popularity of the Sainik Colony.
Sainik Colony offers ample 2 BHK and 3 BHK builder floor units by city-based builders, including JSV Real Estate, Bansal Buildwell and VP Builders. A residential property in the locality comes with a price tag of around Rs 3,600 per sq ft. The colony also witnessed a rental yield of around three percent YoY, which keeps it on the investors' radar.
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The localities mentioned above are shortlisted on the basis of the average property prices per sq ft in Faridabad. The prices may increase basis the demand; hence, do proper market research before making a transaction. You may also seek counsel from an area-based property agent to avoid incongruities.