FARIDABAD HAS ALL THE REQUISITES TO SURPASS GURGAON BUT IT NEEDS BETTER BRANDING – ANIL MITHAS
Can Faridabad become the next Gurgaon and fuel real estate growth? The question should have been asked other way round as Industrialization began much earlier in Faridabad. But situation changed in seventies when Maurti manufacturing plant was established in Gurgaon with Japanese giant Suzuki. Gurgaon got more prominence after liberalization in nineties when major corporate houses chose it as their headquarters. Of course aggressive marketing of real-estate companies like DLF played an important role in establishing Gurgaon on the world map.
It has been like a rabbit and tortoise race between these two towns of Haryana. While Gurgaon developed by leaps and bounds, Faridabad maintained its slow yet steady march towards development. Today when Gurgaon has reached near saturation, being the biggest city of Haryana, Faridabad still has a lot to offer.
Like Gurgaon, Faridabad has also gradually evolved as a major city of NCR. Like Gurgaon, it is also Delhi’s neighbor and very close to Noida and Greater Noida, other fast growing townships of NCR. It is not far away from Gurgaon or fast developing Dwarka Expressway either. Gurgaon has advantage of having national and international airports in its vicinity, but Faridabad is also adequately connected with road and rail routes. New Delhi and Hazrat Nizammudin Railway Stations are about 20 - 25 km away from Faridabad Station which falls on the broad gauge of Delhi-Mumbai route.
The Delhi Metro Rail Corporation (DMRC) is extending the metro rail service to the city as well, which will further boost the connectivity to the city. Famous Mathura Road that connects Delhi with Agra passes through Faridabad. World known places of pilgrimage namely Mathura and Vrindavan are two hour drive from Faridabad, similarly Agra, the city of Taj Mahal, is hardly three hour away. No doubt that the Metro rail-link and modernization of Mathura Road will enhance the prospects of Faridabad further. As it is Mathura Road has evolved as a major hub of commercial and recreational activities.
Though Gurgaon has reached saturation, Faridabad still has tremendous growth potential in industrial, commercial and residential areas. Even now Faridabad is home to hundreds of large-scale companies like L&T, Mahindra Defense, Imperial Auto Ltd., Birla VXL, Lafarge, Whirlpool, Havell’s, Yamaha, Talbros, Bharat Gears, Dee Development Engineers Limited, Shova, Star Wire India Limited, JCB, Escorts, Knorr Bremse, ACE, ABB, GoodYear, ACC, IndianOil (R&D), Frick India Ltd., Orient Fans, etc. Moreover, there are approximately 25,000 small scale industries in Faridabad which provide direct and indirect employment to nearly a million people.
Last decade can truly be called as the transformative decade for Faridabad when this sleepy industrial township witnessed major turnaround in real-estate business. Several reality majors realized the potential of Faridabad and invested heavily here. The real estate boom has transformed the skyline of Faridabad both in commercial and residential segment, as aggressive demand pushed the construction of premium properties. The demand comes from the growth and development in Faridabad's infrastructure as well as property value.
Looking at the enthusiasm of real estate majors and growth potential of this area, Haryana government has also prepared elaborate plans to upgrade its infrastructure and civic amenities. The government has strategically carried on ‘cluster development planning’. Government also has plans for an industrial model township (IMT) to boost the confidence of investors further.
Despite immense growth potential, real estate prices in Faridabad are still much less than Gurgaon. In areas like Greater Faridabad the prices are very reasonable as civic facilities are not yet fully developed unlike some of the other NCR areas.
Like Gurgaon, Faridabad also has best of educational facilities. It has good schools like Apeejay School, Eicher School, Modern School, Delhi Public School, St. Thomas School, Carmel Convent, Saint Joseph’s Convent School, Tagore Academy, DAV Public School,Gita Bal Niketan, Bhagwan Sri Ram’s Academy, Modern Vidya Niketan, St. John’s School, Modern D.P.S., K.L. Mehta Dayanand, Gita Convent, etc.
YMCA University of Science and Technology, Lingaya’s university, Manav Rachna International University are some of the well known institutes for higher studies.
So Faridabad has all the potential to surpass Gurgaon in the times to come. It has good infrastructure, connectivity, educational facilities, large industrial base, large reserves of land for future development and above all these things are available at more reasonable prices than Gurgaon.
Mr. Anil Mithas, Chairman & Managing Director, Unnati Fortune Group says that close comparison between Faridabad and Gurgaon makes it amply clear that Faridabad has all the potential to surpass Gurgaon but it will happen only with proper marketing and branding. He says that unlike Gurgaon, Faridabad doesn’t have international level recreational facilities, though Mathura Road has emerged as a major hub of malls and commercial showrooms but in spite of all the efforts a clear-cut direction is missing.
Like Gurgaon, Faridabad also suffers due to lack of basic facilities. Haryana government must step-up its efforts to provide world class civic amenities to Faridabad if they really want it to develop fast and in the right direction.
He also said that the Modi government has big plans to unleash a new round of economic boom in India. Gurgaon, reaped all the benefits in the last round and established itself on the world map as millennium city, if government pays proper attention, this round could well see Faridabad as the next rising star.
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