Metro Rail Connectivity Boost Faridabad Property Market

Metro Rail Connectivity Boost Faridabad Property Market

Metro Rail Connectivity Boost Faridabad Property Market

Published on: Sep 8, 2015 @ 13:06

NEW DELHI: The  extension  of  the  Central  Secretariat-Badarpur  Metro  Rail  corridor  till Faridabad  was inaugurated  by  Prime  Minister  Narendra  Modi  on  September  6, 2015. With the  launch  of  the  long-awaited Badarpur  Extension  of  Violet  Line, the  Delhi  Metro  has now infused  life  into  the  urban  expansion  of Faridabad,  where  residents  had  to  brave potholed roads  and  rickety  public  transport.

According  to  metro  officials,  the  project  has  been  completed  within  the  sanctioned  cost  of Rs 2,494  crores and  the  line  covers  a  length  of  13.875 kms.  The  Metro  Line  on  this  route would  largely  reduce  the  traffic volume  and  hassle-free  travel  for  around  two  lakh  daily passengers  from  Delhi  and  Faridabad,  the industrial hub  in  Haryana.

The  Metro  rail  will  cover  a  large  part  of  the  satellite  city  and  connects  Faridabad  to  the NCR  for  the  first time  in  the  Metro  network.  It  passes  over  the  National  Highway  02.  It has  nine  stations  from  Sarai  to Escorts  Mujesar.  The  other  stations  are  Sarai,  NHPC Chowk, Mewala  Maharajpur,  Sector  28,  Badkal  Mor, Old  Faridabad,  Neelam  Chowk Arjonda and  Bata Chowk.  Two  more  stations,  NCB  Colony  and  Ballabgarh, will  be  added by  2017, Metro officials  said.

As  per  the  industry  experts,  the  property  market  in  Faridabad  is  set  to  undergo  a  significant uplift  after  the launch  of  the  metro  rail.  The  areas  covered  by  the  Metro  include  almost every  prime  location  of  the  city such  as  Ashoka  Enclave,  IP  Colony,  Greenfield  and Springfield,  thereby  connecting  almost  the  entire Faridabad  region.

Due  to  its  proximity  to  Delhi,  Gurgaon,  Ghaziabad  and  Noida,  Faridabad  is  an  important part  of  the  NCR (National  Capital  Region).  But  the  property  market  in  Faridabad  has  not kept  pace  with  the  real  estate market  of  the  other  NCR  cities.  Faridabad  has  basically suffered,  on  account  of  poor  infrastructure  and  bad connectivity,  and  has  failed  to  mark  the kind  of  growth  witnessed  in  neighbouring  Gurgaon  and  Noida.

The  biggest  issue  with  Faridabad  in  the  past  has  been  the  poor  connectivity.  The  new metro link  will encourage  the  developers  to  come  up  with  their  projects  in  the  city. According  to  a property  consultant ,   the  improved  connectivity  by  metro  and  lower property prices,  the Faridabad  property  market  will  now   attract  buyers  for  long  term investment  as well  as  for purchasing  a  house. The  advent  of  metro  in  Faridabad has presented  the  real estate  sector with an  opportunity  to  fully  explore  its  potential  in  the  city.

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