HS 1202

REAL ESTATE PLANNING

REAL ESTATE SCENARIO

IN FARIDABAD
By:
ABHAS SAGAR (212109208)
PRIYUSHI SINGH (212109209)
ABOUT FARIDABAD:
LOCATION:
Faridabad is the largest city in the north Indian
state of Haryana, in Faridabad district with the
population of 14,38,855 people, according to
census 2011. It is a leading industrial center and
situated in the National Capital Region near the
Indian capital New Delhi. It is located between
Delhi, Noida, Greater Noida and Gurgaon.
Faridabad enjoys a prime location both
geographically and politically. Faridabad-
Ballabgarh Complex is situated on Delhi-
Mathura road (NH-44) at a distance of 32 KM
from Delhi. It is one of the largest agglomerations
consisting of three towns, namely Faridabad
Old, Ballabgarh and N.I.T. Faridabad.
Faridabad is well connected with other parts of
the country by rail and road, expansion and
development has grown along the Delhi-
Mathura-Agra road, which makes the initial
growth pattern linear in nature.

ECONOMIC BASE OF THE TOWN/FUNCTIONAL STATUS:

Faridabad is home to one of the largest industrial estates of Asia, which houses a large number of
manufacturing industries. Economy of Faridabad is largely dependent on industry.
The total number of small, medium and large industries in district Faridabad is about 15,000 which provide
direct and indirect employment to nearly half a million people and ranks as the 9th largest industrial
estate in Asia. The place is home to many international/multinational companies.
INVESTOR’S MARKET IN FARIDABAD:

Faridabad, located on the Delhi-Mathura Road, is one of Haryana's leading industrial cities, accounting
for over 60 percent of the state's earnings.
EXPECTED RESIDENTIAL EXPANSION:
• The Development Plan 2031 focuses on increasing residential density from 113 to 271 people per
hectare. The state government’s focus is to accommodate 40 Lakh people in the city by 2031.
• Sectors along the industrial belt are proposed to have a density of 600 people per hectare and sector
25 will have eight high-density neighborhoods with a population density of 1,125 people per hectare.
Smaller residential units, primarily for the Low-Income Group (LIG) and Mid-Income Group (MIG), will be
possible as a result of this (MIG).
• Green construction provisions have been added, providing builders with additional Floor Area Ratio
(FAR) ranging from 3% to 15%. Only if the builder installs a solar photovoltaic plant and a solid waste
management plant for the management of electricity, water, and waste will the FAR be increased.
ANTICIPATED COMMERCIAL EXPANSION:
• Many of the industrial zones along the Delhi-Mathura Road (NH-44) have been converted to
commercial zones. Sectors 27A, 27B, 27C, and 27D are among them.
PROJECTED FUTURE EXPANSION:
• Near Sectors 121 and 132, two 75-meter-long road connectors are planned to connect the Eastern
Peripheral Expressway.
• Connectivity linkages have also been established near Sector 131 to allow easy access to the Haryana
State Industrial and Infrastructure Development Corporation's industrial areas (HSIIDC).
• For smooth passage to Noida and Greater Noida, two linkages from the outer periphery road near
Sectors 92 and 95 have been planned.
• The Metro rail was also introduced along the Delhi-Mathura route, up to Ballabhgarh, and is currently
operated by the Delhi Metro Rail Corporation (DMRC). A proposal to expand the link up to village Sikri
and along the Gurgaon-Agra canal has also been made.
MASTER PLAN AND MAJOR RESIDENTIAL ZONES:
MASTER PLAN 2031:
MASTER PLAN AND MAJOR RESIDENTIAL ZONES:
MASTER PLAN LAND USE:
The Draft Faridabad Master Plan 2031 has been proposed, keeping in view, the overall town density of
113 persons per hectare, to accommodate 38.86 lacs persons by 2031 A.D., within the urbanisable area
of 34368 hectares. The extent of various land uses is described as below:
MASTER PLAN AND MAJOR RESIDENTIAL ZONES:

MASTER PLAN RESIDENTIAL IMPLICATIONS:

An area of 14328 hectares has been proposed for residential purpose on the basis of average residential
density of 271 persons per hectare (PPH). The density for the proposed residential sectors has been kept
as 300 persons per hectare to accommodate the projected population.
Three sectors bearing nos. 119, 143 and 146, adjoining to the proposed industrial sectors have been
proposed with a density of 600 PPH, wherein only group housing projects will be permitted.
Eight pockets of 25 hectares each have also been reserved for high density development of 1125 PPH in 8
sectors of 99, 112, 119, 122, 139, 143, 146 and 156, paving the way for construction of smaller flats and for
providing housing to low and medium income group.

The Government decision regarding increase in the sector density has been incorporated in the plan with
the following provisions:
1. The additional area for infrastructure shall be provided in the already planned/developed residential
sectors to meet out the requirement of the additional population.
2. The minimum width of the roads in a residential colony/sector shall not be less than 12 meters.
3. The minimum area for parks/open spaces in a residential colony/sector shall be planned in such a
manner that it shall meet the minimum norm of 2.5 sq. meters per person.
MASTER PLAN AND MAJOR RESIDENTIAL ZONES:
MAJOR RESIDENTIAL ZONES:
REAL ESTATE SCENARIO (PAST AND PRESENT):
• Faridabad began as a pure industrial town, with the majority of employment opportunities emerging
from the industrial sector. There is now a gradual shift in trend, and the service sector is now picking up
in the area. Faridabad's improved connectivity with key cities in NCR, primarily Delhi and Noida, has
been favorable for its realty market.
• The average ticket size for apartments in Faridabad is around Rs. 3000-4000/sq. ft. In most of the group
housing projects, appreciation has been sluggish of late. The annualized appreciation over the last
couple of years for housing projects in this region stands at around 8-10%. The region mainly has
affordable housing in low ticket-size projects, with a few luxury projects.
• Faridabad is currently an end-user/buyer market. Still among the most affordable markets in the NCR
belt, unit prices and apartment sizes available in Faridabad suit the requirements of average
households.
• It can be said that developers have been somewhat over-enthusiastic when it comes to launching
projects in Faridabad. In fact, demand for housing in Faridabad has been on the slower side because
of the absence of an inherent ‘pull' factor. Faridabad has, for the longest time, been a small industrial
town.
• All these factors resulted in average traction of residential projects launched in the region. Besides this,
Faridabad has always been an end-user driven market, and therefore off the radars of investors. This
has resulted in limited activity in the real estate market of the region.
• In an instance that has caused some negativity in the Faridabad market, BPTP - the largest real estate
developer in the Faridabad region, with a land-bank of around 1500 acres - has started selling
constructed units as well as plots. There have been reported cases of consumers being allotted plots
different from the ones they were originally shown. This has impacted the credibility of the project,
despite the fact that there are no concerns when it comes to quality of construction and completion
timelines for the projects.
PROPERTY RATES IN FARIDABAD:

Average price: Rs. 4041/- per sqft

PRICE TRENDS: Apartment, Independent House and Villas

8000

7000 6676
6234 6435
6089
6000 5800
6163 6098 5912
5000

4000 3612 3612 3558 3457

3000

2000

1000

0
Oct'19 - Dec'19 Jan'20 - Mar'20 Apr'20 - Jun'20 Jul'20 - Sept'20
Apartments Independent Houses Villa
PROPERTY RATES IN FARIDABAD:

Average Sale Price (Rs/Sqft) of Faridabad Micromarkets

8000 7611

7000

6000
5428
5000 4605
4048
4000 3783
3474
3166
3000

2000

1000

0
Mathura Sector 39 Sector 70 Sector 80 Sector 81 Sector 85 Rest of
Road Faridabad
MAJOR DEVELOPERS IN FARIDABAD:

35000
31451
30000

25000

20000
These Top 5 Developers amount to 42%
of the units delivered in Faridabad
15000
11000
10000

5000 4400
3000 2500
1875
0
Puri OMAXE BPTP Limited KLJ RPS Rest of
Construction Developers Infrastructure Faridabad
Pvt. Ltd Pvt Ltd Limited
MAJOR DEVELOPERS IN FARIDABAD:

1. BPTP LIMITED:
• BPTP Ltd. operates as a Real Estate company in India. The company specializes from integrated
townships, to plotted developments, to group housing which includes high rise/ low rise apartments,
and villas.
• The company is also involved in district and convenience commercial complexes and retail centers, as
well as IT and cyber parks.
• The company is based in Delhi and mainly operates in NCR region.

2. OMAXE LIMITED:
• Omaxe is one of India's leading real estate development companies. It was started in 1987 by Mr.
Rohtas Goel. In 1989, the Omaxe Builders Private Ltd was founded to undertake construction and
contracting business.
• Over the years, Omaxe has made a mark with some landmark projects and engineering marvels in
metros. Seeing an opportunity in tier II and III cities, the company made a conscious decision to
venture into states such as Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Uttarakhand and
Rajasthan, among others.
• Presently, Omaxe has spread its footprints in nine states across 30 cities in India.The company has
already delivered more than 90 million sq ft and is currently executing 42 real estate projects, among
which are 16 integrated townships, two hi-tech townships, 14 group housing projects, 10 shopping malls
and commercial complexes and hotels.
MAJOR DEVELOPERS IN FARIDABAD:

3. PURI CONSTRUCTION:
• Construction business has been the core activity of Puri Constructions. Since 1971, Puri Constructions
has executed various projects from large scale steel plants and dams to luxury hotels, from state
owned institutions to new age commercial & residential projects.

4. RPS INFRASTRUCTURE LIMITED

• RPS Group is the fastest growing conglomerate in the field of Real Estate and Infrastructure. The Group
was established in 2005.
• It is classified as a public limited company and is located in New Delhi, Delhi. It’s authorized share
capital is INR 50.00 Cr and the total paid-up capital is INR 38.75 Cr.

5. KLJ DEVELOPERS PVT LTD

• KLJ Developers Private Limited operates as a real estate development company. The Company
develops, constructs, and manages residential apartments, office complexes, and shopping malls. KLJ
Developers serves customers in India.
• With a turnover of over Rs. 30,000 million and a leadership stature in the chemical and plastic industry,
they have taken the same teachings of nature and forayed into real estate.
TOP RESIDENTIAL PROJECTS:

1. BPTP LIMITED:
Project Name Pride Discovery Park Princess Park
Location Sector 77 Sector 80 Sector 86
Details 2 BHK, 3 BHK, 4 2 BHK, 3 BHK, 3 2 BHK, 3 BHK, 3
BHK Apartments, 3 BHK + SR BHK + SR
BHK Independent
Floor, 4BHK
Independent
Floor, Plotted
Development
Saleable Area 1,710 – 3,150 sq.ft. 1120 to 2440 sqft 1337 to 2194 sqft
(1103 - 1803 sq.m.) (104 to 226 sqm) (124 to 203 sqm)
TOP RESIDENTIAL PROJECTS:

2. PURI CONSTRUCTIONS:
Project Name Aanandvilas Pratham Pranayam
Location Sector 81 Sector 84 Sector 82-85
Details 3 BHK, 3 BHK + SR, 2 BHK, 3 BHK 2 BHK, 3 BHK, 4
4 BHK, 4 BHK + SR BHK
Saleable Area 1895 to 3890 sqft 1100 to 1400 sqft 1000 to 3080 sqft
(176 to 361 sqm) (102 to 130 sqm) (92 to 286 sqm)

3. OMAXE GROUP:
Project Name The Forest Spa Omaxe New Omaxe Hills
Heights
Location Surjakund Sector 78 Sector 43
Details 3 BHK, 3 BHK + SR, 2 BHK, 3 BHK, 4 2 BHK, 3 BHK
4 BHK, 4 BHK + SR BHK
Saleable Area 2900 to 4259 sqft 850 to 1495 sqft 1130 to 1922 sqft
(234 to 234 sqm) (79 to 138 sqm) (148 to 178 sqm)
DEMAND AND SUPPLY

BHK-Wise Demand and Supply

60% 57%

50%
44%

40%

30%
25%
22%
20%
16% 15%
11%
10% 9%

0%
1 BHK 2 BHK 3 BHK 4 BHK

Demand Supply
DEMAND AND SUPPLY

Budget-Wise Demand and Supply

70%
60%
60% 54%
50%

40%
30%
30% 26%
20% 14% 16%
10%

0%
Within Rs 40 Lakhs Rs 40 Lanks - Rs 1 Crore Above Rs 1 Crore

Demand Supply

• Population influx from Gurgaon is causing a shift in the residential real estate market of Faridabad.
• People from higher income groups are preferring to move to Faridabad.
COMPARISON OF TOP PROJECTS

PROJECT NAME PURI OMAXE THE BPTP PRIDE

AANANDVILAS FOREST SPA
YEAR OF BUILT 2018 2015 2015

LOCATION Sector 81 Surajkund Sector 77

TYPOLOGY 3 BHK, 3 BHK + SR, 4 3 BHK, 3 BHK + SR, 4 BHK, 2 BHK, 3 BHK, 4 BHK
BHK, 4 BHK + SR 4 BHK + SR Aparments, 3 BHK
OFFERED Independent Floor,
4BHK Independent
Floor, Plotted
Development
NO. OF UNITS 512 324 650

AREA (UNITS) 1895 to 3890 sqft 2900 to 4259 sqft 1,710 – 3,150 sq.ft.
(176 to 361 sqm) (234 to 234 sqm) (1103 - 1803 sq.m.)

AMENITIES Gym, private movie Swimming pool, salon, Club House, Meditation
theater, swimming fitness center, Center, Sports Facility,
pool, billiards and cards restaurant, personal Kids Play Area,
room, music and health club, banquet Swimming Pool, Gym,
dance studio, kids hall Open Space, Power
games room, sports Backup, Multipurpose
and tv lounge, yoga Hall
terrace

PER SQFT COST Rs 5600 per sqft Rs 8250 per sqft Rs 4677 per sqft
(Basic Sale Price)
COMPARISON OF TOP PROJECTS

Comparison of Supply and Absorption Rate of Top Project of

Top 3 Developers

700
650

600
512
500 465

400
350
324
300
229
200

100

0
Puri Aanadvilas Omaxe The Forest Spa BPTP Pride

Supply Absorption
INFERENCES

• As stated previously, people from higher income groups are preferring to move to Faridabad for a
better quality of life.

• As per recent articles (2021), only about 3% of the total vacant units (2.1 lakhs) are in Faridabad which
amounts to about 5100 units.

• Faridabad offers a good connectivity to major corporate and industrial hub in NCR via Delhi Metro.

• 3 BHKs and 4 BHKs are almost equal in demand due to this shift.

• The absorption rates generally for all developers is over 75% which means there is a high demand for
properties in Faridabad.

• Faridabad has a well established infrastructure system which is also the reason for attracting buyers to
the area.

• Faridabad provides an attractive opportunity to higher income group buyers to purchase property in
NCR.

• Prices are expected to rise because of the high demand and low supply.