[ecis2016.org] The proposed Faridabad-Noida-Ghaziabad (FNG) Expressway is set to change the urban landscape of the region, especially in terms of the real estate market and improved connectivity
The Faridabad-Noida-Ghaziabad (FNG) Expressway is proposed to be 56 kms long, with the distribution of the total area as follows: 19.9 kms in Noida-Greater Noida, 8 kms in Ghaziabad and the remaining 28.1 kms in Faridabad. If the Expressway is extended to a length of 75 kms, the properties around Sohna Road will also get a major boost.
You are reading: Faridabad-Noida-Ghaziabad Expressway property market: An overview
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Sensing big opportunities of this developing area prior to the completion of construction of the Expressway, property developers and builders are becoming increasingly active in the hope of making profits, by investing in building various luxurious projects at affordable prices.
Leading developers and builders in FNG Expressway such as Ansal Housing and Construction Ltd, Omex Builders and Developers Pvt Ltd and Puri Constructions are, therefore, coming up with several projects in the area.
Connectivity with nearby Faridabad-Noida-Ghaziabad Expressway localities
- Noida, Ghaziabad and Greater Noida are connected to Faridabad through the densely-populated areas of NH-24 and NH-2.
- New Delhi and Hazrat Nizamuddin railway stations are the nearest stations that connect the area to other parts of the country.
Reputed schools in FNG Expressway include Apeejay School and Modern School. Leading colleges in FNG Expressway include YMCA University of Science and Technology and Lingaya’s University.
Employment hubs near Faridabad-Noida-Ghaziabad Expressway
- There is significant prospects for an economic boom in Faridabad in the near future, which has attracted investors to the area.
- There is a possibility of increasing industrialisation and growth in the services delivery sector.
- Faridabad is home to many large-scale companies like Dee Development Engineers Pvt Ltd, Lafarge and Yamaha Motor Company Ltd.
- Moreover, there are approximately 25,000 small-scale industries in Faridabad. Apart from attracting large and medium-scale industries, the future emphasis will be on IT.
Physical infrastructure in Faridabad-Noida-Ghaziabad Expressway
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The National Highway project is expected benefit more than 2.2 lakh vehicles. Moreover, it will provide an alternative route for people who wish to go to Faridabad and Agra, from Meerut, Ghaziabad, Noida, Greater Noida, Gurgaon and Hapur. It will also cut travel time to 40 minutes, from the present two hours and ease traffic pressure in the areas along NH-58, NH-24 and NH-2 that fall in the Delhi region.
Price trends in Faridabad-Noida-Ghaziabad Expressway
- Current property rates – Rs 5,000 to 6,000 per sq ft.
- Current plot rates – Rs 2,971 to 3,709 per sq yard.
Reasons to invest in Faridabad-Noida-Ghaziabad Expressway
Considering the tremendous development of the area and price trends in FNG Expressway, the area is likely to be a major investment site. Traffic congestion in roads connecting Delhi with Gurgaon, Faridabad, Noida and Ghaziabad, is the major drawback of the region. However, the working population of the area can travel from Ghaziabad to Faridabad in about half an hour, without entering Delhi, once the Expressway comes into operation. This is a key factor for areas such as Ghaziabad, Noida, Faridabad and Gurgaon emerging as major residential zones.
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
