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Naharpar - A greater potential (Hindustan Times)

Postby webmaster » Sat May 02, 2009 11:57 am

A greater potential
Hindustan Times, 2nd May 2009

The Naharpar area of Faridabad, also known as Greater Faridabad, is going to be a premium zone for Haryana once the infrastructure is put in place.
SYED AMIR ALI HASHMI goes exploring

One area that has been in the news of late is the Naharpar area or Greater Faridabad — much like New Gurgaon or Greater Noida. The one reason, according to brokers, that’s leading to the development of the area is the land crunch and high property prices in other NCR areas. Also — though a number of infrastructure plans have been chalked out but not implemented — the Naharpar area still offers very affordable prices.

As of now when one drives to this place, a big hurdle on the way is the Badarpur border area because of traffic jams. With Hindustan Constructions Co. Ltd (HCC) beginning construction work for the development of flyover at Badarpur border, this problem should hopefully be over soon.

The other infrastructure development to take place in the area include the Taj Expressway (near sector 80), and a highway beginning from Kalindi Kunj and running parallel to Mathura Road that will bypass the city — meant to be a kind of a peripheral road around the Naharpar area.

It should be noted that after the development of Gurgaon, HUDA is now focusing on the development of Faridabad, the forgotten industrial town.
HUDA is also widening the existing bypass at Sector 37, and constructing a flyover over it. Sector 79 in the area has been earmarked by the government — as per the notifi cation by the Municipal Corporation of Faridabad (MCF) — as the commercial district.

When it comes to the buyers interested in purchasing property in Faridabad and worrying about the condition of the roads here, the good news is that the government has imposed Section 17(4) of the Land Acquisition Act for compulsory acquiring of land earmarked for sector roads. The roads, therefore, are going to be developed once the plans are implemented.

Another concern voiced by buyers is the increase in External Development Charge (EDC). It has been increased in Gurgaon, but in Faridabad, since no external development has taken place in the new sectors, the decision of revision of EDC has been kept pending.

If officials are to be believed then the greening of areas is also being take care of. “We have reserved Sector 52 A in Gurgaon as the green area and are also taking care of the green belt of Faridabad,” says a senior HUDA official.

Residential areas in the Naharpar area come under Sectors 75-78 and 80-89. Though infrastructure is not in place, this area will become a premium location once the proposed infrastructure comes up.
“Prices of plots, mostly available on re-sale, in the Naharpar sectors, hover between Rs. 9,000-Rs 12,000 per sq yd. For flats the prices are in the range of Rs 1800 per sq ft. Independent floors are a good option too. BPTP and Puri Constructions have already announced the sale of independent floors — with Puri Constructions offering a 300 sq yard area for around Rs 27 lakh. I believe more such options will come up in the future in this area,” says realty consultant Pradeep Mishra of Sainik Estates.

“Once the Badarpur flyover comes through, access will be more comfortable and with the Metro reaching here in Phase III, there is likely to be a property boom. The freight corridor is also in the vicinity — the catchment area being Faridabad. Then a planned HSIIDC commercial hub near Faridabad is going to add value to the area. With several shopping malls under construction, Faridabad is likely to have more than 40 such spots over the next few years.” Though one might complain that hardly any infrastructure is in place at the moment, one can look at Indirapuram and Greater Noida, which used to be neglected areas a few years back. It has been unfortunate that Faridabad, despite being an industrial city with about 300 large and 10,000 small-scale industries, has always been undervalued when it comes to the facilities it requires. Hopefully the sit , uation will change in the future.

When you visit the area, you will notice that Naharpar is a vast virgin tract that has opened up for development in recent times. BPTP has the major portion of land in this area, measuring about 1500 acre.

Other developers present in the area are Omaxe, Puri Constructions, SRS, and RPS among others. Realtors believe that as the area is decongested, corporates will move towards Faridabad, given the high rates at Jasola. “One can get good returns on investments in the long term. For end users, the going is good as prices are in the affordable range and once the development in and around the area takes place, prices will definitely go up,” ¦ adds Mishra.

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