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Real estate to reap dividends...
With the recent opening of the six-lane Faridabad Bridge constructed over Agra and Gurgaon canals, a spurt in property prices in is expected. A number of private developers such as Ansals BPTP, ERA and Omaxe are coming up with projects near the bridge in sectors 75 to 89. Moreover, the facility would connect the old city to the upcoming townships in the suburbs, spread in some 2,000 acre of land.
Infrastructure development in Faridabad traditionally has been neglected, as far as the core developmental work is concerned. W ith the development in economic, industrial and commercial activities, there has also been an increase in traffic plying on the roads. Also, due to lack of the bypass road, the National Highway serves to both local and regional traffic, and this is why the traffic situation in the city is quite under pressure.
But now, civic agencies like Haryana Urban Development Authority (HUDA) and Municipal Corporation of Faridabad (MCF) have set themselves up to improve the scenario. And once these projects take shape, real estate would get a push, experts say.
State of infrastructure in Faridabad
Faridabad has strong linkages with Delhi with the National Highway No. 2 (NH2) from Delhi-Mathura passing through the city acts as the central axis. The main arterial roads either start or end on the NH-2. This is also due to the fact that does not have any dedicated CBD and all the major commercial and institutional areas lie along the highway.
The District Town and Country Planning (DTCP) has issued several residential and commercial licenses to private real estate developers in Faridabad. This has initiated the need for a strong infrastructure.
Meanwhile, the Transport Plan 2021 for NCR has the following proposals involving Faridabad-Bhallabgarh, to be implemented in the first phase:
o Proposal to develop NH2 from Delhi to Ballabgarh to expressway standards.
o Proposal to connect peripheral expressways, of which the Kundli-Manesar-Palwal (KMP) western peripheral expressway and the Kundli-Ghaziabad-Palwal (KGP) eastern expressway are located closest to Faridabad-Ballabgarh.
o Metro Rail to be extended and further to have feeder and connect services with the Regional Rail Transit System to cater to increasing intra-city urban transport needs.
o Flyover at Badarpur; once the congestion at Badarpur border is removed many corporate will take up office space in Faridabad, given the high rates in Jasola.
o The Taj Expressway will touch it at Lalpur and go on to meet NH-2 at Shahpur. The completion of this stretch will improve Faridabad's connectivity with NOIDA.
o Another highway is planned which will begin from Kalindi Kunj, run parallel to Mathura Road, and bypass the city. This highway will contain all the new sectors, and will merge with Mathura Road on the other side of Faridabad, again acting as a catalyst to Property.
o Furthermore, three-laning of Faridabad-Gurgaon road, widening of the Surajkund road and repairs of all main and internal roads in the sectors will provide impetus to the realty growth.
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