subject: Comparative Locational Advantage Of Greater Faridabad Residential Projects [print this page] It is quite surprising to find the way the price escalation has happened at the Greater Faridabad region. The basic sale prices of the residential units have almost doubled in the last three or four years depending on the high demand factor by this region. The analysts at housing societies like Piyush Heights believe that it is the cost and locational advantage which is leading to people to enquire more about the residential units. It is true that the due to late development of this region as compared to other areas of the NCR, the prices are the lowest in this part as compared to the ones in Delhi, Gurgaon, Noida and even Faridabad.
Noida, Gurgaon and Delhi have become the hot-bed for employment generation with a number of people commuting daily from different parts of these cities to the other cities. Take the case of Gurgaon as an example. This city attracts skilled people from far off places in Delhi and beyond on daily basis. Quite naturally, the people coming from far flung areas find it more conducive to shift to the nearby areas of Gurgaon which can reduce the daily commutation time. For them the best location could have been the Gurgaon city but for its very high cost of living which makes it hard for average person to live there. Even the newly developing areas of Gurgaon are quite pricier and are far off from the main working and institutional hubs. So, the next best option is provided by the residential societies of the Greater Faridabad region for meeting the residential needs of the people as compared to the developed or developing regions close to Gurgaon. Similar is the case with the working areas of Noida and Delhi where the prices prohibit average person to live.
In Greater Faridabad, the similar types of apartments, as compared with the Gurgaon ones, can be had in less than half of the prices. Even the rentals of the societies such as Piyush Heights are very low since the supply is more than the demand. Along with the ease of affordability comes the ease of commutation. The drive from Faridabad to Gurgaon is approximately 1 hour duration which means that the people coming from far away place in Delhi and even beyond can find this region far more nearer to Gurgaon.
Similarly, people coming from cities in the direction of Mathura and Agra to live and work in Delhi or Noida are much better putting up at Greater Faridabad since it lies close to these cities. Even for the people coming from Rajasthan, along the NH 8, Greater Faridabad is a good option due to lower prices of the accommodation. Many people who find the residential apartments expensive along the NH 8 and take same commutation time to their work places find Faridabad a far more residence-prominent city.
