Located in the southern part of Haryana, Faridabad is the largest city in the National Capital Region (NCR) after Delhi. Over the years, the city has seen a significant transformation in terms of infrastructure, real estate, and overall development. The emergence of New Faridabad as a major residential and commercial hub has further propelled the city’s growth trajectory.
In this article, we will take a closer look at the various factors that have contributed to the rise of New Faridabad and what it means for the future of the city.
Location and Connectivity
One of the key factors that have contributed to the growth of New Faridabad is its strategic location and connectivity. The area is well-connected to Delhi, Gurgaon, and other parts of NCR through a network of highways and expressways. The Kundli-Manesar-Palwal (KMP) Expressway and the Delhi-Faridabad Skyway are two major infrastructure projects that have significantly improved the connectivity of the area.
In addition, the upcoming Faridabad-Noida-Ghaziabad (FNG) Expressway and the extension of the Delhi Metro to Faridabad are expected to further enhance the connectivity of the area.
Real Estate Development
The growth of New Faridabad can largely be attributed to the rapid real estate development in the area. The region offers a mix of residential, commercial, and industrial spaces, making it an attractive destination for both investors and end-users.
Some of the major real estate players in the region include Omaxe, BPTP, SRS Group, and Puri Constructions, among others. These developers have launched a number of projects in the area, ranging from affordable housing to high-end luxury apartments and villas.
Affordability
Another factor that has contributed to the rise of New Faridabad is its affordability. Compared to other areas in NCR such as Gurgaon and Noida, the region offers relatively lower property prices, making it an attractive option for middle-income groups.
In addition, the Haryana government has launched several schemes to promote affordable housing in the state, which has further incentivized developers to launch affordable projects in the region.
Infrastructure Development
Apart from connectivity, the region has also seen significant infrastructure development over the years. The area has several educational institutions, hospitals, shopping malls, and entertainment centers, making it a self-sufficient hub.
In addition, the Haryana government has launched several initiatives to improve the overall infrastructure of the state. The Smart City project, which aims to develop Faridabad as a smart city, is one such initiative that is expected to bring about significant changes in the region.
Employment Opportunities
The growth of New Faridabad has also led to the creation of several employment opportunities in the region. The area has several industrial zones, including the Faridabad Industrial Area, which is one of the largest industrial areas in Haryana. The region also has several IT and software development companies, which have contributed to the growth of the service sector in the area.
In addition, the upcoming Jewar Airport, which is located about 40 km from Faridabad, is expected to create several employment opportunities in the region.
Future Prospects
The future prospects of New Faridabad look promising. The region is expected to witness further real estate development in the coming years, with several large-scale projects in the pipeline. The extension of the Delhi Metro to Faridabad is also expected to significantly improve the connectivity of the region.
In addition, the Jewar Airport, which is expected to be operational by 2024, is expected to have a multiplier effect on the economy of the region. The airport is expected to create several employment opportunities and attract investments