An imminent destination

Commonly known as Greater Faridabad,Naharpar in Faridabad is an upcoming real estate destination in the National Capital Region.

Written by Himani Chandna | Published: July 11, 2009 12:46:03 am

Commonly known as Greater Faridabad,Naharpar in Faridabad is an upcoming real estate destination in the National Capital Region. It is called Nahar-Par because it is the Agra canal which bisects the Faridabad city and the other part.

Initially a barren land,the area of Naharpar became an area to reckon with in the year 2005,with its first project by BPTP. Since then,the area is seeing an immense development not only by the realtors but also from the state government. The locality has more than 25 developers trying to build this area for the residential townships. Seeing the potential in this area,Haryana Urban Development Authority (HUDA) is helping the developers aggressively in building the infrastructure of the area and it has been a successful effort of the Government. Some other major developers engaged in construction are KLJ,Puri Constructions,SRS and Omaxe Ltd.

Residential sectors in Naharpar are from Sector 75-78 and from sector 80-89. Though infrastructure is not fully developed,the talks are on that once the proposed infrastructure comes up this is going to be one of the good locations. Price of plots,which are mostly available in re-sale is between Rs 9,000 to 12,000 per sq yd. For flats,the price starts from Rs 1,600 per sq ft. One can find a 2-BHK within Rs 22 to 23 Lakh and a 3-BHK for Rs 30 to 32 Lakh including additional charges.

The pace of development is in the full swing and both government as well as private sector is working simultaneously on several projects. Municipal Corporation of Faridabad (MCF) is spending Rs 493 crore for water supply and treatment. Other upcoming projects include Sewage Treatment Plant (STP) in sector 74 and power stations of 30 MW sanctioned for sectors75-76. To make Faridabad stray cattle free area,Municipal Corporation of Faridabad is looking into this matter as well,which will involve an investment of around Rs 2 crore.

Only hurdle to reach Naharpar is the long and tiring traffic jams on Badarpur border. However,the work has been started by Hindustan Constructions Company (HCC) for the development of flyover at Badarpur border which is expected to improve the connectivity problem. The area will also get connectivity through FNG Expressway from Noida and Kalindi Kunj expressway from Delhi. Various measures have been taken to improve the connectivity such as broadening of NH2 and construction of metro station at Badarpur. The Metro rail is also proposed to be extended and further to have feeder and connect services with the Regional Rail Transit System to cater to increasing intra-city urban transport needs.

From residential point of view,the colony will have all required facilities from schooling to medical infrastructure. Escorts and Fortis,two big names in medical field are already in the locality.

From investment point of view,according to Arjun Puri,Director,Puri Constructions: “The area is located at a driving distance of just 30 minutes from New Friends Colony and GK-II where apartment prices have touched an astronomical Rs 20,000 per sq ft,whereas the average apartment prices still hover around a very affordable Rs 2200 per sq ft. This,when compared to Noida or Gurgaon where prevailing prices are still around Rs 5000 per sq ft or even Greater Noida where prices are around Rs 3000 per sq ft is very attractive.” Therefore,the place could be looked upon as an alluring investment option because of its nearness to South Delhi.

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