Let's Find Your Property

Overview of Firozabad

Firozabad, celebrated as the "glass city of India" and the "city of bangles," stands as a noteworthy urban location in Uttar Pradesh. Here are some important considerations from a real estate standpoint:

Location and Connectivity

• Firozabad resides 40 km from Agra and about 240 km from Delhi.
• It boasts superb connectivity via roads, railways, and airports. National Highway 2 (NH2) links Firozabad to New Delhi, and interstate connections exist with states like Rajasthan and Madhya Pradesh.
• Firozabad Railway Station and the nearby Tundla Junction grant access to various parts of the nation.

Economic and Industrial Perspective

• Firozabad thrives on its glass industry, featuring around 500 small-scale glass factories. About half of its glass production heads overseas.
• Beyond glassmaking, the city hosts handicrafts, packaging, chemicals, and assorted service industries.

Employment Opportunities

• The city offers diverse employment prospects mainly within the glass and other small-scale industries. This draws a workforce and drives the demand for residential spaces.

Tourist Attractions

• Firozabad boasts several holy sites including Balaji Temple, Firuz Shah Tughlaq Tomb, Karoli Devi and Hanumanji Ka Mandir, and Shanti Temple.
• Its closeness to Agra and other historical landmarks like the Taj Mahal boosts its tourist allure. This increases the demand for spaces serving tourists.

Educational Institutions

• The city hosts several esteemed educational institutions like Amar Deep College, GS College of Education, and Mahatma Gandhi College of Education. These help to foster a literate, stable community.

Property Rates and Trends

Average Property Prices

• Properties in Firozabad average at around ₹5,194 per square foot, showing a year-over-year rise of 34.42%.

Price Range

• Property prices fluctuate from ₹3,333 to ₹8,888 per square foot, contingent on local area and type.

Localities

• Tundla: Property costs range from ₹3,333 to ₹5,277 per square foot. Tundla is close to NH2 with a vital railway junction.
• Nai Basti: Prices range from ₹20 lakh to ₹40 lakh. This sits in the Agra division with the Makkhanpur Railway Station nearby.
• Dholpura: Dholpura is the most upscale locality with prices reaching ₹8,888 per square foot.

Things to Consider Before Purchasing

Utility Services

• Make sure there are accessible essential services such as ATMs, banks, police stations, railway stations, restaurants, and hospitals in the area.

Builder’s Reputation

• Confirm the builder’s reputation and the legitimacy of the real estate project via the RERA portal to steer clear of scams.

RERA Registration

• Make certain that all properties are registered on the RERA portal in Uttar Pradesh for transparency and accountability.

Stamp Duty and Registration Charges

• Stamp duties range between 6% to 7% depending on the buyer’s gender. Registration fees remain a flat 1% for all categories.

Investing in Residential Real Estate: Steps

1. Budget Planning: Set a practical budget aligned with your financial goals.
2. Property Selection: Pick residential properties matching your budget and wanted amenities.
3. Site Inspection: Perform an on-site evaluation with a real estate agent or broker.
4. Verification: Confirm the property and builder’s legitimacy via the RERA portal.
5. Documentation: Prepare all necessary papers and involve legal help for documentation.
6. Payment: Settle the agreed-upon amount and any applicable fees.
7. Insurance: Secure the property with insurance to mitigate potential risks.

PropertyWala's Conclusion

Firozabad shines for those looking at residential real estate thanks to its dynamic industries, rich culture, and robust connectivity. With ongoing economic activities, strong educational institutions, and tourist attractions, demand for residential properties grows stable and strong. Investigating property prices, areas, and builder reputations carefully on the RERA portal is critical. With a sound strategy, investing in Firozabad can promise big returns and steady passive income via rents.