Faridabad Stand Still on all residential projects

faridabadBy Accommodation Times News Services

Faridabad, one of the city in NCR have lost its position in NCR as best investment destination. Consumer Courts are flooded with delay possession complaints and almost all projects are either going slow or there is no activity at all. The rates have fallen to 2004 level and likely to further slid down.

JLL have issued a report which claimed that there is already 30% reduction in rates in Delhi and NCR. But in Faridabad, the investors are selling stocks and bookings in distress feeling that these projects will never come up or buyers will be hard to buy.

Faridabad most cheap destination in NCR have majority of people travel to Delhi for employment now have further detoriated its market share in NCR. Major projects including DLF and big reputed names have slow down the construction for want of sale and buy back commitments which includes returns on investment. Majority or investors from London or Canada are looping in dark as the investment remains in paper and there seems to be no progress of work.

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