Most affordable rates in NCR in Faridabad

Poorna Bhattacharjee, The Indian Express

No other market near Delhi offers rates as affordable as those in Faridabad. Greater accessibility from Delhi via the Metro will make this area even more popular in the near future. Demand has been picking up ever so slightly and the buyer looking for bargain prices in the NCR region can get them in Faridabad.

Plots in Sectors 82, 83, 84, 85, 75 & 76 are priced at Rs 10 – 12, 000 per square yard, in the secondary market. Primary market rate for a 250 square yard plot is Rs 14, 0000 per square yard, Rs 13, 500 per square yard for a 350 square yard plot and Rs 12, 500 per square yard for a 500 square yard plot. Rates have reduced about Rs. 6000 from the previous year. Sectors under Haryana Urban Development Authority (HUDA) have seen a similar reduction of Rs 6000 per square yard over one year. The average plot rate in Sector 21 A, B, C, D is at Rs. 24 – 28, 000 per square yard. Rs. 35,000 per sq yard is the average rate for Sector 16 while it is Rs. 40,000 for Sector 15. Sectors 30 – 31 are priced between Rs 40,000 and Rs 42,000 per square yard. Apartment rates in Sector 21 range from Rs. 30 – 35 lakh for 2 BHK to Rs. 50 –60 lakh for a 3 BHK.

The Neher Paar area consists of the upcoming sectors 77, 78, 86, 88, 89, where the prices of apartments have reduced by about Rs 150 per square foot. The current primary market rate is between Rs. 1800 and Rs 2000 per square foot. The secondary market rate is between Rs. 1450 – Rs. 1650 per square foot.

Rental rates have remained stable. In Sector 21 C, a 2 BHK apartment spanning 1000-1200 square feet is being rented out at Rs. 8000 per month. A 3 BHK flat of around 14-1800 square feet is at the rate of Rs 130000 per month while a 4 BHK of 2000-2300 square feet is at the rate of Rs. 16000. In sector 16, a 2 BHK floor on a 108 square yard plot can be rented at the rate of Rs 9000 per month while a ¾ BHK floor on a 250 square yard plot is at the rate of Rs 18 – 20,000 per month.

“The market is beginning to ease solely in Faridabad. Other areas in the NCR region like Gurgaon are not offering many deals for the middle class customer,” said Pradeep Mishra, broker with Sainik Estates. A number of malls such as Crown Interior, Vardhman Star Shop and Mall Manhattan have come up in Faridabad. DPS, Faridabad is also centrally located near the Faridabad Chowk. Given its good location and ample facilities, Faridabad promises good deals for the cautious consumer.

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