In Faridabad Buying property has become to much costly. The district government has hiked the circle rates up to 25 percent. The new rates have come into force from April 1.“We could not hike ring rates in the downturn period and now as the bazaar has stabilised, we thought disk rates should be revised upwards,” Praveen Kumar,  Faridabad deputy commissioner said.

He added, “Each and every effort has been made to make sure that the hike should not pinch the common man.”

The new ring rates in commercial areas in Eros, Omaxe, DLF, Parsvnath, IREO,Charmwood, Greenfield Colony, Inderprastha Colony, Springfield Colony, Itmadpur, Kant Enclave, Ashoka Enclave have been fixed. There has been a huge rise in ring rates in R-Zone area, which mostly falls across Nehar, popularly called Neharpar. Circle rates have gone up from Rs 48 to 50 lakh per acre to Rs 55 lakh per acre.

In the industrial section, Mathura road area is more costlier. Rs 4 crore per acre has been fixed as new circle rate in Sector 30-31, close to Mathura road. In other places on Mathura road, over Rs 3 crore per acre has been fixed as new circle rate.

After a couple of days Tata Housing launched a low-cost realty project which offers houses at below Rs 4 lakh, BPTP Ltd, the New Delhi-based developer has launched independent floors called Park Elite Floors at very competitive rates of between Rs 16.08-25.56 lakh. The floors will be located within BPTP’s 1500 acre township, BPTP Parklands in Faridabad near Delhi.The company has launched 500 flats in the first phase of the project. BPTP is also offering its buyers an upfront discount of 5 per cent on the installments of the basic sale price if paid on or before the due date.

In the past couple of years Faridabad has seen a lot of growth and development in its infrastructure as well as property value. To present a unique concept in Real Estate, Faridabad is the place and where so many real estate builders & developers are launching their projects. Being an industrial city, it has reap the forecast of the profitable growth. The real estate boom in the city has transformed the skyline of Faridabad over the last few years. Both the commercial and residential situation in Faridabad has developed at a rapid pace and a number of real estate projects are coming up here as developers are keen on tapping the probable of an rising goal.

As Faridabad enjoys geographical and infrastructural benefits, the region has emerged as an industrial hub with about 600 heavy, medium- and small-scale industries. The state is targeting a growth rate of 11% in the 11th Five-Year Plan. The vision is to convert the existing $30-billion economy into a $130-billion one in the next decade. Development of cyber cities with IT-ITES parks and SEZs are in the offing, too.

Good connectivity to the national capital is considered one of the most promising factors for business opportunities to prosper in Faridabad. Located just 25 km from Delhi, the city has the merit of proximity to Delhi as well as the NCR cities of Greater Noida and Gurgaon. These are some of the factors driving investors like corporate houses and developers to choose the city as one of their favourite real estate destinations.