Faridabad (FDB): The Metro Rail appears to be ready to start its operation on the Faridabad route with the completion of trail run on the 13.87-km track. It will link Badarpur border with the Escorts Mujesar Chowk near YMCA here. The operation is reported to be delayed by around a month.Revealing that the trial run, which started on April 12, was over, Deputy Commissioner Amit Kumar Aggarwal said it was only the clearance from the office of the Commissioner, Railway Safety, that was awaited.
As many as nine stations — Sarai, NHPC Chowk, Mewla Maharajpur, Sector 28, Badkhal, Old Faridabad, Ajronda, Bata (Sector 12) and Escorts Mujesar, fall on the 13.87 km route. Some work is pending at Ajronda, Bata and Escorts Mujesar stations, a DMRC employee said. DMRC spokesperson Himanshu Sharma said the final date of operation could be known only after the inspection by the Commissioner, Railway Safety, which was still awaited. Deputy Commissioner Amit Aggarwal said a meeting would be held with DMRC officials in this connection.
Rents climbing, sleepy town is hot property
With the Metro coming to Faridabad shortly, there’s a scramble to find rental space. Rents in commercial buildings along the Metro alignment have already shot up.
Lybrate, a healthcare technology platform, started operations from Mindspace Towers near the Badar pur border on Mathura Road in January this year. When they asked for space in the same building some months ago, they were told that rentals were set to rise. “We are expanding and wanted offices on another floor. The rates, we were told, would rise once the Metro started. We’re hoping to get space before that,” said Kanchan Dass, who works for the start-up.
Aman Pandhi, a realtor, said rates for commercial space would go up by 25%-30%. “The IT towers are already showing the effects of Metro’s coming. Rentals in SSR Towers and RPS Infinia have gone north.Others are following suit.” He cited the example of Crown Interiorz, a mall in Sector 35 where rates have increased from Rs 2,500 per square yard in 2004 to Rs 40,000 now.
Rohtas Gandhi, another broker, said rates would increase the most in Sector 31 and areas surrounding it. “Sectors 14, 15 and 17 are already considered upmarket. But now, rates in Sector 31 will also go up because one of the stations is located next to it. Prices in other sectors along the alignment, like Sector 28, are also set to go up.”
Add other developments like arterial roads and upcoming expressways and Faridabad does look like a promising destination.
Pankaj Bansal, market ing manager at S R S Group, which has several projects in Faridabad, said, “Only genuine buyers are shifting to Faridabad.
In another few months, when the Metro is completely ready, rates will in crease by at least 20%.”
Shveta Jain, Executive Eirector (Residential) at Cushman and Wakefield, said, “The infrastructure is definitely improving.
Because of the Metro, Faridabad has become a more desirable location.”
Improved connectivity with Delhi, Noida and Gurgaon is likely to boost property values in Faridabad by 25%-35%, especially in these areas
Sectors 6-13, 14, 15, 15-A, 19, 21-C, 27-A, 27-C, 28, 29, 30, 32, 34, 35, 38, 46, 52, Gurukul, Dayal Basti, Greenfield Colony, Subhash Nagar, parts of Shyam Park, Rajeev Nagar, Sanjay Mal Colony, Indraprastha Colony, Mawai, SOS, HBH, Mewala Maharajpur, Kapil Vihar, New Bihoor & Basilra Colony, Old Faridabad, Sanjay Gandhi Memorial Nagar, Krishan Nagar, Bata Colony and Faridabad New Town.