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Affordable Housing in Faridabad |
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Early 2007 saw a sudden upsurge in the property prices in entire NCR but the only place providing Affordable Housing was Faridabad. The scene changed in 2008 when builders like BPTP, Omaxe, SRS, Puri, Uppals, KLJ etc. launched luxury projects extensively, specially in the Neharpar Region of the city. Today these projects are hanging in mid-air with exorbitant pricing at par with the promise of a luxury lifestyle.
The real estate property markets in India displayed a shift of administration from the sellers to a buyers market. This has urged the builders in upcoming cities like those in the NCR to focus on low-budget affordable quality homes. In Faridabad itself, the projected prices of the on floor apartment housing projects for the year 2009 are said to be around Rs. 20-35 Lakhs that were nearly double barely a year ago.
The upcoming housing projects advertisements carrying the word luxury apartments in 2008 are now emphasizing on low cost affordable homes in Faridabad. For this the real estate developers have reduced down the floor area of the apartments. In general, a 3 BHK flat of 1800 sq. ft. available at Rs. 50 lakhs onwards is now being sold at Rs. 35 Lakhs for 1500 sq. ft. area.
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The various low-budget housing options in Faridabad include:
- KLJ Greens, Sector – 77 - Apartments start at Rs. 24 lakh onwards.
- Panache Homes, Omaxe Spa Village, Sec-78 - On offer are Studio Apartments – 650 sq. ft. (Rs.14 lakh), 2 BHK – 800 sq. ft. (Rs. 18 lakh)
- Uppal's Jade, Sec – 86 – Prices Start at Rs. 12.5 Lakhs onwards.
The city is on the verge of massive infrastructure development with special emphasis being laid on betterment of roads and metro connectivity of the remote areas as well. The capital values are favoring affordable housing in Faridabad and would certainly shoot once the projects on-floor are completed. Until then, if your are looking for low cost affordable home in NCR, Faridabad is the place to watch out for.
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