Faridabad is a viable opportunity in the NCR for people who find the rates of property in Delhi and some towns like Gurgaon and Noida beyond their reach. Industry specialists say that today Faridabad is an attractive investment destination owing to its affordable real estate market, developed infrastructure and better prospects for price appreciation.
Developers are trying to give profitable offers to buyers such as price cut,0% preferred location charges, flexible payment options, and pre-approved subvention schemes.
The implementation of the H-RERA (Haryana Real Estate Act) in Faridabad gives positive impacts on buyers and investors. This act is designed to remove grey areas from the real estate market to protect buyers and investors.GST is not applicable on ready to move property in Faridabad.
Faridabad has a double advantage of being close to Delhi as well as being relatively less expensive than the markets like Delhi, Gurgaon, and Noida. Connectivity to Faridabad has also been progressing. The Badarpur border has already been connected via the Metro. Faridabad has become a hot destination for property investment. Construction of luxurious business centres, shopping complexes, flyovers, and expressways have raised the status of the business in Faridabad.
It is the right time to invest in the area as the realty market is falling and prices are relatively affordable. Secondly, most of the properties in prime areas in Faridabad are near to completion, delivering even the ready-to-move options in the range of Rs 40 lakh to Rs 55 lakh. Thirdly, capital appreciation in Faridabad is expected to be about 15-20% annually.
