The Delhi/National Capital Region (NCR) is considered to be one of the biggest residential hubs of India, with nearly half a million flats under-construction which will be available for occupation in the next 2 to 3 years. As home buyers scramble to pick affordable homes in the better connected micro-markets, we pick two hot spots in Haryana that may offer you the best value-for-money.
New Gurgaon (Sector 81-95, Pataudi Road)
With over 76 under-construction projects, New Gurgaon or Gurgaon Extension can become your new residence in the future. New Gurgaon is tipped as an affordable destination in comparison to the main Gurgaon region where the property prices have touched record highs. In contrast, New Gurgaon has flats at various ticket sizes with average property prices ranging around Rs. 5,000 per sq. feet. Other key features that you may want to look out for include:
– Lots of affordable housing stock as developers partner with the Haryana Development Authority to build affordable homes.
– Work on upgrading internal roads and improving connectivity is in progress
– Educational institutes like Basant Valley Public School, Royal Institutes of Science and Management are present, while small clinics and hospitals are also operational
– One major drawback could be the Toll Plaza which you will have to travel through before the New Gurgaon region starts
Greater Faridabad Or Neharpar (Sector 70-89)
An extension of Faridabad, Greater Faridabad has lots to offer on the housing front with over 35 projects containing 14,000 units under construction. The region is fast developing and has decent social and physical infrastructure in place for end-users. Average property prices in Greater Faridabad range around Rs 3,500 per sq. feet which is affordable and gives stiff competition to other micro-markets like Greater Noida West and Raj Nagar Extension. Key features that may help you make a decision to invest here include:
– The upcoming Faridabad-Noida-Ghaziabad (FNG) expressway, which will boost connectivity
– The 13.875 Kilometer long Metro link which connects Badarpur-Faridabad at YMCA Chowk is now operational, lying just 3 Kilometer away from Greater Faridabad
– The 14.6 Kilometer road being planned to connect Faridabad to Greater Noida via Jasana-Manjhawali, Atta Gujran at Yamuna Expressway service road
– Faridabad has also been included in the fast track list of 13 towns that will be developed into smart cities
– Reputed school like Shivnadar, the Delhi Public School and Modern Public school are operational here, while hospitals with 2000 beds will be operational in future
– The only drawback is that there are no malls or shopping arcades present in the locality
So if you are planning to buy a flat or a plot, New Gurgaon and Greater Faridabad could be a good choice. Experts that NDTV spoke to say that Greater Faridabad is an established micro-market for end-users and is also well connected to the capital. On the other hand, New Gurgaon region will evolve over the next 2 to 3 years, but it lacks basic amenities and social infrastructure at the moment.
Reporter : Chankya Bhatia, NDTV
Web Editor : Nikhil Narayan Sivadas, NDTV