Property sites in India have till now never given a favorable opinion about property in Faridabad however this all has changed as these sites are now urging people to invest in this satellite city of Delhi. Flats in Faridabad have given a good price appreciation in the last few years as the city is one the few affordable cities in India. Unlike Gurgaon and Delhi the city is not prone to speculation due to investor interference. The property prices of Faridabad are very much stable. Infact in the last 24 months when most of the cities faced stagnancy due to high property prices this city gave a good price appreciation.
Property sites in India shows that when Delhi Metro expended its operations to Faridabad the prices of the properties of the city got a huge boost. The property in Faridabad that was served by Delhi metro saw a huge price appreciation in 2015 after the operations began. Real estate experts feel that the same trend will happen once the line will be extended. Currently Sarai, NHPC Chowk, Mewla Maharajpur, Sector 28, Badkhal Mor, Faridabad Old, Neelam Chowk Ajronda, Bata Chowk and Escorts Mujesar. In 2017 the metro will also connect two other locations NCB Colony and Ballabhgarh.
Metro has improved the connectivity of the city. The city can now seamlessly travel to Delhi and other satellite cities of Delhi. Faridabad was the last satellite city to be connected by Metro. The prices of property in Faridabad have increased phenomenally as the city’s connectivity has improved. The prices of flats in Faridabad in NCB Colony and Ballabhgarh will also go up in 2017 when the metro starts serving these areas also. The city has also seen several other infra development which has also led to price appreciation of property in Faridabad. Connectivity to Gurgaon has also improved massively over the years after the construction of Gurgaon Faridabad road. People working in Gurgaon who cannot afford to buy a flat in the city are looking to buy a property in Faridabad. The rental rates in Faridabad are also very low as compared to Gurgaon.
Lowering of EMIs due to reduction in repo rate has also accelerated the sales movement of property in Faridabad. Several end-users are looking to buy a property post reduction of lending rate. Property sites in India predicts good times ahead for the buyers and investors of flats in Faridabad.