Greater Faridabad - Challenges Ahead
Newly developed or Under Development Sector 70-90 in Faridabad is often referred to as Neher Par (there are actually two adjacent canals i.e. Gurgaon Canal and Agra Canal. A modern terminology for the area is GREATER FARIDABAD.
Following are some of the Challenges -
1. Delay in possession of projects by almost every builder (projects launched as early as 2005)
2. Lack of Development of External Infrastructure by Govt Authorities (expected not earlier than 2013-14)
3. Farmers continue to protest over acquistions and this may cause further delays (if nothing else)
4. Govt has increased EDC/IDC in the region and it is costing almost double to investors (than the original one).
5. Developers are increasing super area in most cases at the time of possession thereby increase in cost.
6. Over Booking and Non allotment by some developers.
7. Some Developers compelling investors to cancel unit, or take reallotment.
8. Burdened the customer with service tax on payments after july 2010 (Delayed Possession)
9. Developers also silent on Delay Penalty and finding excuses to avoid them. Resale Units worst affected.
10. Consumer groups are fighting for the issues but their negative propaganda hampering commercial values