Meenakshi Taheem
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6 mins read
Last updated on 29th February 2024
Faridabad, a significant part of the National Capital Region (NCR), has been witnessing rapid development in terms of infrastructure and residential projects. The city offers a plethora of housing options catering to various segments, including affordable housing which is a boon for students, bachelors, and families looking for budget-friendly living spaces. Let's delve into some of the affordable housing localities in Faridabad, highlighting their key features and what makes them stand out.
Top 10 Affordable Housing Localities in Faridabad
- Sector 11
- Sector 21C
- Sector 46
- Sector 55
- Sector 78
- Neharpar (Greater Faridabad)
- New Industrial Town (NIT) 5
- Sector 72
- Sector 45
1. Sector 11, Faridabad
Sector 11 is renowned for its affordable flats in Faridabad on rent, making it an ideal choice for students and bachelors. The locality is well-connected to educational institutions and offers basic amenities, ensuring a comfortable living experience without burning a hole in your pocket.
- 2 BHK starting at 65 lakhs
- Landmarks: IBS Ashwani Multi Specialty Hospital, Escorts Mujesar Metro Station, Adani Gas CNG Station, Agarwal Sewa Sadan
2. Sector 21C
Known for its organized layout and green spaces, Sector 21C offers a tranquil environment for its residents. The area boasts well-maintained parks, and recreational zones, and is closely located to essential services, making it a preferred choice for families.
- 2 BHK starting at 57 lakhs
- Landmarks: Park Plaza Hotel, Manav Rachna International School, Badkhal Mor metro station, Asian Institute of Medical Sciences
Suggested read: Affordable Housing in Mumbai
3. Greenfield Colony
Greenfield Colony is popular among homebuyers for its well-designed infrastructure and strategic location - being close to the famous Surajkund. The area provides a range of affordable housing options in its Dayal Basti locality, with ample greenery and modern amenities, ensuring a balanced lifestyle.
- 2 BHK starting at 40 lakhs
- Landmarks: NHPC Chowk metro station, Mall Road, Omaxe Hills, SOS Children's Village
4. Sector 46
Sector 46 is emerging as a vibrant locality with a well-knit community. It offers affordable housing in Faridabad along with good connectivity to other parts of the city, making it an attractive option for many.
- 2 BHK starting at 41 lakhs
- Landmarks: Kashvi Public School, Sector 28 Metro Station
5. Sector 55
Known for its premium yet affordable residential spaces, Sector 55 embodies modern living. The locality boasts of premium amenities and is well-connected, offering a comfortable lifestyle to its residents.
- 2 BHK starting at 38 lakhs
- Landmarks: HUDA Market, Government Model Sanskriti Senior Secondary School, Mauria Udyog Limited
6. Sector 78 Faridabad
Sector 78 is rapidly developing as a residential hub, offering affordable homes in Faridabad with promising future growth prospects, making it an attractive investment.
- 2 BHK starting at 35 lakhs
- Landmarks: Omaxe New Heights, Habitat 78, Satlok Ashram, North Star Sports Academy
Suggested read: Affordable Housing Projects in Gurgaon
7. Neharpar (Greater Faridabad)
Neharpar or Greater Faridabad is known for its affordable housing projects, catering to the middle-income group with modern amenities and a cleaner environment. Popular sub-localities in the area are Human Nagar, Vikas Nagar, Padam Nagar and Bharat Colony.
- 2 BHK starting at 45 lakhs
- Landmarks: Baba Mohan Ram Mandir, Modern Delhi International School, Saroj Medicare & Hospital, Post Office, Maharaja Hospital, Hira Masjid
8. New Industrial Town (NIT) 5
NIT 5 is one of the oldest areas, offering affordable residential and commercial properties. Its robust infrastructure and connectivity make it a desirable locality.
- 2 BHK starting at 45 lakhs
- Landmarks: Shree Banke Bihari Mandir, Govt Girls SENIOR SECONDARY SCHOOL, St Joseph's Playground, Lakhani Armaan - Neelam Chowk metro station
9. Sector-72, Faridabad
These sectors are gaining attention for their affordable housing projects, coupled with good infrastructure and connectivity, promising a comfortable living experience.
- 2 BHK starting at 40 lakhs
- Landmarks: Mata Mandir, Devashraya Animal Hospital, Rackonnect Ace Badminton Arena
10. Sector 45, Faridabad
Offering a range of affordable housing options, Sector 45 is well-connected and provides a comfortable lifestyle with all necessary amenities nearby.
- 2 BHK starting at 45 lakhs
- Landmarks: Rail Vihar, Divine Spirituality Mission, Tughlakabad Cabin train station, Mewala Maharajpur metro station
Faridabad's growth trajectory in affordable housing is commendable, offering a variety of options for every budget. These localities not only provide economical living solutions but also ensure a quality lifestyle, making Faridabad a sought-after destination for homebuyers.
FAQs About Affordable Housing in Faridabad
Typically, eligibility for affordable housing in Faridabad, as in many parts of India, is determined based on income, existing debt, and the credit score of the applicant. Applicants often need to fall within certain income brackets to qualify.
Generally, a husband and wife can both apply for affordable housing, but if both are selected, they may be required to choose a single unit. Rules can vary, and some schemes might allow only one application per household.
The payment plan for affordable housing in Faridabad typically includes an initial booking amount or application fee, followed by installments linked to construction milestones. The exact structure can vary based on the developer or the specific government scheme under which the project is being offered.
Buying two affordable housing units in Faridabad is usually restricted. Most schemes are designed to provide housing opportunities to those who do not already own a home, aiming to maximize the distribution of affordable housing. Rules often stipulate that an individual or family can apply for or own only one affordable housing unit.
As of April 2023, affordable housing in India benefits from a reduced GST rate. The Government of India had reduced the GST rate on affordable housing to 1% without input tax credit (ITC) for buyers. However, it's important to verify the updated tax rates when buying a house.
Published on 29th February 2024
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