Last Updated:
The rise of Greater Faridabad has been a game-changer, with improved infrastructure and ambitious development projects fueling the city’s evolution, says industry players.
A recent report by ANAROCK revealed that in the first half of 2024 alone, 6,205 housing units were sold in Faridabad. (Representative image)
Faridabad, once known as an industrial town, has transformed into a hub for real estate investment over the years. The sector is experiencing an upward growth trajectory amid the growing demand for high-end projects with luxury amenities, coupled with its excellent connectivity within the Delhi-NCR region. Further, metro connectivity, combined with the upcoming Delhi-Mathura Road expressway, makes Faridabad more accessible, enhancing its appeal for homebuyers and investors.
Besides, the rise of Greater Faridabad has been a game-changer, with improved infrastructure and ambitious development projects fueling the city’s evolution. The expansion of Neharpar (Greater Faridabad) has unlocked new construction zones, offering a mix of affordable homes, premium housing, and luxury projects. This diversity ensures options for every buyer segment, creating a dynamic real estate landscape.
A recent report by ANAROCK revealed that in the first half of 2024 alone, 6,205 housing units were sold in Faridabad. These included 715 units in the luxury segment, 1,920 in affordable housing, and 3,570 in mid-to-premium categories. Such numbers highlight Faridabad’s rising prominence in NCR’s property market, which is driven by infrastructure improvements and an influx of professionals seeking modern lifestyles. In addition, the completion of the Faridabad-Jewar Expressway is expected to boost property prices by up to 40 per cent, opening doors for new luxury residential projects and positioning Greater Faridabad as a prime investment destination.
Mohit Goel, managing director of Omaxe Group, said, “Luxury homes have gained significant traction across NCR. As per JLL’s report, the segment has also seen a 96% year-on-year increase in sales in the first nine months of 2024, with new launches already surpassing last year’s total by 8%. This surge in demand reflects a broader trend toward aspirational living, driven by buyers seeking improved lifestyles and premium amenities. Cities like Faridabad, with its competitive pricing and abundant land banks, are emerging as key urban centres for luxury real estate development.”
Its strategic location and improving infrastructure and connectivity attract an influx of affluent buyers seeking their dream homes here. Infrastructure projects like the FNG Expressway and Delhi-Mumbai Expressway have further strengthened its appeal. Further, the launch of Asia’s largest private hospital in 2022, a 130-acre facility, drives medical tourism. Hence, we anticipate that Faridabad will continue to rise as an ideal destination for luxury properties, providing unparalleled opportunities for both real estate brands and investors to tap into this growing market, he added.
R C Gupta, vice-president of CREDAI NCR, said, “Faridabad has evolved into a prominent urban hub with significant potential for real estate growth. Enhanced infrastructure and improved connectivity have positioned it as one of the key cities in the Delhi-NCR region. The rising demand for mid-segment and luxury projects makes it an attractive destination for investment, with developers eyeing long-term prospects in the area. Faridabad’s growth trajectory is set to gain further momentum in the near future.”
Faridabad has evolved into a prominent urban hub with significant potential for real estate growth. Enhanced infrastructure and improved connectivity have positioned it as one of the key cities in the Delhi-NCR region. The rising demand for mid-segment and luxury projects makes it an attractive destination for investment, with developers eyeing long-term prospects in the area. Faridabad’s growth trajectory is set to gain further momentum in the near future.
Kushagr Ansal, director of Ansal Housing, said, “Over the years, buyers’ interest in luxury properties has risen significantly. With a growing trend toward an improved lifestyle in Faridabad, people are now seeking their dream homes here. Hence, we foresee a growing presence of major brands and business opportunities in the region, further strengthening the city’s identity as an aspirational destination for luxury properties.”
Beyond its allure for residential properties, Faridabad is also emerging as a major commercial hub. Economically, the city is performing well, with an annual growth rate of 8% in the retail sector. Over the next five years, it is expected to attract 30,000 new professionals, solidifying its position as an economic hub. Educational institutions, malls, and quality healthcare services are enhancing Faridabad’s urban environment, providing more opportunities for residents. The region boasts iconic projects known for their unique architecture and world-class shopping experience, attracting both buyers and investors.
Uddhav Poddar, chairman and managing director of Bhumika Group, said, “Faridabad’s evolution from an industrial hub to a thriving urban center has been driven by its strategic location, robust infrastructure development, and enhanced connectivity. These factors, coupled with the government’s focus on sustainable urban planning, have positioned Faridabad as an attractive destination for luxury real estate. The city’s rising property values and growing commercial investments further underscore its potential as a lucrative market for both residents seeking a premium lifestyle and investors eyeing significant returns.”
Thus, with major infrastructure projects nearing completion and property values consistently rising, the city offers immense potential for investors and homeowners. It has shed its industrial past to become a modern urban hub, blending economic growth, world-class infrastructure, and unmatched lifestyle opportunities. As the city continues to grow, it is setting new benchmarks for urban development and real estate success in the region.