Authored by: Siddharth Katyal, CEO, Bhumika Group
Once considered an industrial offbeat locality overshadowed by its affluent neighbors Gurugram and Noida, Faridabad has transformed into a thriving real estate hub.
With developments in connectivity, affordability, and infrastructure, it has become an attractive residential and investment option for middle-income families seeking quality living at reasonable prices.
This article explores Faridabad’s remarkable journey from an overlooked industrial town to a desirable real estate destination.
Strategic Connectivity & Location Advantage
Faridabad’s proximity to Delhi has always been a key asset, and recent infrastructure projects have transformed it into a well-connected city, bringing NCR’s major hubs within easy reach. The extension of the Delhi Metro’s Violet Line from Kashmere Gate to Raja Nahar Singh (Ballabgarh) has been a game-changer for Faridabad’s accessibility.
According to recent reports, metro ridership in Faridabad saw a 22% surge in 2023 alone, with approximately 38,000 people commuting daily to Delhi. Complementing this is the Delhi-Faridabad Skyway—a six-lane expressway that has cut travel time to Delhi by nearly 30%.
Faridabad is also strategically positioned along the Kundli-Manesar-Palwal (KMP) Expressway, a vital link within NCR’s expanding road network that connects the city with Noida, Gurugram, and beyond. Additionally, the anticipated Faridabad-Noida-Ghaziabad (FNG) Expressway promises to reduce travel time to Noida from 1.5 hours to just 40 minutes, making Faridabad even more desirable for commuters. These connectivity upgrades, paired with projects like the Delhi-Mumbai Industrial Corridor (DMIC), which will stimulate economic activity and job creation, are elevating Faridabad’s desirability among homebuyers and investors.
Affordability: A Competitive Advantage
Compared to Gurugram, where residential prices have escalated steeply, Faridabad stands out as a highly affordable alternative in NCR. As of 2024, average property prices in Gurugram range from Rs 8,000 to Rs 12,000 per square foot, while in Faridabad, they range between Rs 4,000 and Rs 6,500 per square foot—offering nearly 40-50% cost savings.
Rent differences are also significant; a two-bedroom apartment in Gurugram costs between Rs 18,000 and Rs 25,000 monthly, whereas a comparable apartment in Faridabad averages Rs 12,000 to Rs 18,000. With rising living costs in Gurugram, many middle-income families and working professionals are opting for Faridabad, a shift confirmed by a 2023 survey by Knight Frank India, which highlighted Faridabad’s growing appeal for middle-income homebuyers.
Proliferation of Middle-Income Housing Projects
One of the primary drivers of Faridabad’s real estate growth has been the proliferation of housing projects targeted at the middle-income segment. Recognizing the demand from families priced out of Gurugram, developers have increasingly focused on launching affordable, quality housing options in Faridabad.
According to data from JLL India, 70% of new residential launches in Faridabad over the past five years cater specifically to middle-income groups, with price ranges between Rs 40-70 lakh.
This trend has been particularly noticeable in areas like Neharpar (Greater Faridabad), which has seen rapid development to accommodate this demand, offering affordable housing alongside robust amenities. The city’s affordable housing stock has not only allowed more families to buy homes but has also attracted investors seeking properties with high growth potential.
According to recent market trends, property values in areas like Greater Faridabad have appreciated by an average of 10% annually since 2018, making these middle-income housing projects not just affordable but also smart investments.
Development Under the Smart Cities Mission
Faridabad’s designation under the Smart Cities Mission has been instrumental in its transformation. This initiative brought Rs 2,300 crore in funding aimed at enhancing urban infrastructure, including public transportation, road networks, and waste management.
Among the key developments is the establishment of the Integrated Command and Control Centre (ICCC), which improves public safety and traffic management—a testament to Faridabad’s growth into a smart, connected city.
Investors are taking note of these improvements. In a recent survey by Colliers India, Faridabad was ranked as the third most attractive investment option in NCR after Gurugram and Noida. The region’s rising potential is underscored by its growing demand among buyers, with sites like 99acres reporting a 15% year-on-year increase in housing inquiries, largely from middle-income families.
Commercial Expansion and Lifestyle Amenities
The commercial real estate sector in Faridabad has also gained traction, creating a balanced mix of employment opportunities and lifestyle amenities that enhances its appeal. Multinational companies and domestic firms alike are finding Faridabad an attractive alternative to Gurugram, where operational costs are higher. Today, more than 1,000 MSMEs and numerous global firms are based in the city, according to local industry data, diversifying Faridabad’s economy and boosting employment opportunities.
Meanwhile, the retail landscape is expanding, with popular shopping destinations like metro malls and high streests enhancing the area’s social infrastructure. This retail boom adds convenience and recreation to Faridabad’s lifestyle offerings, complementing the residential growth and adding to its appeal for families and professionals alike.
Conclusion: Faridabad’s Continued Ascent
Faridabad’s transformation from an industrial hub to a residential and commercial hotspot is a testament to the power of strategic connectivity and targeted development. With its combination of affordability, prime location, and government-backed infrastructure projects, the city is set to continue its upward trajectory, providing middle-income families and investors alike with a compelling choice within NCR.
As projects like the FNG Expressway and DMIC corridor near completion, Faridabad’s position in the NCR real estate market is bound to strengthen further. With ongoing enhancements in public infrastructure and increasing job opportunities, Faridabad has firmly established itself as a prime real estate destination. For middle-income families, this city offers affordability without compromise, making it one of NCR’s most promising real estate choices.