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Overview of Farrukhabad

Farrukhabad, located in Uttar Pradesh, India, is a city making its mark as a residential and real estate investment hotspot. Let’s dive into some major points we should keep in mind:

Connectivity & Transport

• Farrukhabad’s connectivity has improved due to its inclusion in the Ganga Expressway Project—this makes getting around Uttar Pradesh and other parts of India easier.
• Multiple bus services run through the Uttar Pradesh State Road Transport System.
• Rail connectivity is solid with the Farrukhabad Junction railway station as the closest major station. For flights, Kanpur Airport at Mohammadabad[1’ is the nearest point.

Industrial Developments

• Farrukhabad is famous for its textile industries, especially zardozi embroidery and zari weaving.
• The city also houses industries tied to agriculture and clothing, including ready-made garments and embroidered products.

Local Facilities

• The city offers numerous educational institutions, including Modern Public School, Jaipuria School, City Public Group Of College, and more.
• Healthcare facilities include Jograj Singh Memorial Hospital and RK Hospital.
• There are also prominent marketplaces like the Yadav Market.

Residential Areas

• Fatehgarh: This cantonment town has decent transport options, including Fatehgarh Railway Station. Properties here start from around ₹ 40 lakhs for a 3 BHK apartment.
• Shyam Nagar: Known for good transportation through Shrimad Dwarkapuri Railway Station. A 2 BHK apartment starts at around ₹ 12 lakhs.
• Amethi Kohna: This area offers independent houses beginning at about ₹ 80 lakhs. It’s linked via Fatehgarh Railway Station and has nearby educational and healthcare facilities.
• Bholepur: This place has great transport connectivity through Fatehgarh railway station. There are nearby educational institutes like St. Anthony’s Senior Secondary School. Independent houses start from ₹ 80 lakhs.

Property Rates

• The average property rate in Farrukhabad stands at around ₹ 4,690 per sqft. Prices vary between ₹ 2,156 to ₹ 5,714 per sqft in different localities.
• In Fatehgarh specifically, property rates have seen a 16.77% increase in the last year, with current rates around ₹ 2,666 per sqft.

Investment Opportunities and Growth

• The real estate sector in Farrukhabad is expanding rapidly, growing by 23% since 2022 with 215 new projects registered under RERA.
• The city’s involvement in the Ganga Expressway Project and growth as an industrial hub make it an appealing spot for real estate investment.

Things to Consider Before Investing

• Environmental Issues: Some places may struggle with poor drainage and road conditions. Carefully inspect the area.
• Safety Problems: Make sure the property has safety measures like security staff, locking systems, and CCTV surveillance.
• RERA Registration: Check that the property has proper RERA registration to confirm its legitimacy.
• Stamp Duty and Registration Charges:
  • Stamp duty ranges from 6% to 7% based on gender and type of ownership.
  • Registration charges are set at 1% across all types of ownership.

PropertyWala's Conclusion

Farrukhabad offers a promising chance in real estate, especially for residential areas. With enhanced connectivity, industrial growth, and affordable property rates, it’s a smart choice for both residents and investors. However, closely assess the area’s environmental and safety conditions, confirm RERA registration, and understand stamp duty and registration charges before purchasing. As the city continues to grow and develop, investing in Farrukhabad’s real estate sector may bring big returns.