Faridabad—the largest city in Haryana by population—has long ridden the coattails of Gurgaon’s growth, yet it’s only recently that developers have begun to look at the city itself as a standalone investment destination. With improved connectivity, especially under Delhi Metro’s extension and the upcoming Regional Rapid Transit System (RRTS), transit-oriented development (TOD) policies are unlocking premium land parcels near stations. Capitalizing on this wave, Bhumika Group has announced a landmark ₹1,000-crore investment to develop an 8-lakh-sq-ft mixed-use project under the TOD framework in Faridabad.
Bhumika Group: From Mall Specialist to Mixed-Use Visionary
Founded two decades ago and best known for Urban Square Mall—the largest retail asset in Rajasthan—Bhumika Group has built a reputation on quality malls and entertainment-led developments. Under the leadership of CMD Uddhav Poddar, the firm has steadily diversified:
- Retail: Urban Square Mall (Udaipur); highway mall ventures
- Hospitality: Hotels adjacent to its retail assets
- Metro-Mall Segment: Projects at NHPC Metro Station in Faridabad
The new Faridabad project marks the Group’s foray into residential development, signalling a strategic pivot from pure-play retail to fully integrated communities.
Project Snapshot: 800,000 sq ft Under TOD
Approved under Faridabad’s TOD policy, which incentivizes dense, mixed-use projects within walking distance of metro/RRTS hubs, the development will span:
- Retail Zone: High-street shops, F&B outlets and entertainment areas
- Hotel Component: A 4- or 5-star hotel catering to business and leisure travelers
- Residential Wing: Horizontally-styled townhomes and low-rise villas—Bhumika’s first residential offering
By clustering these uses, the project is designed for seamless “live-work-play” experiences, reducing vehicle dependence and enhancing footfall synergy across all components.
Embracing Horizontal Development
Unlike typical Gurgaon towers, Bhumika plans horizontal development—sprawling low-rise structures and townhomes rather than high-rise blocks. As Uddhav Poddar explains, “This will be our first residential project, but we want to focus on horizontal development rather than the vertical one. For this, we are in active discussion to acquire large land parcel. We are also looking at Sonepat and Panipat for future projects” The Economic Times.
Why horizontal?
- Community feel: Villas and townhomes foster neighbourly bonds.
- Better land utilization: Large footprints allow green spaces, internal roads and amenities like clubhouses and parks.
- Market differentiation: Most NCR developments crowd skyward; horizontal formats stand out.
Strategic Landbank Expansion
Alongside this TOD project, Bhumika is in advanced talks to acquire sizable land parcels in Faridabad and Gurgaon for both residential and retail schemes. Their goal: a gross revenue of ₹2,000 crore in FY 2025 across multiple launches, including:
- Faridabad TOD mixed-use (₹1,000 crore capex)
- 1 lakh sq ft commercial asset on MG Road, Gurugram
- Two residential projects in Gurugram & Faridabad nearing final approvals
By building a balanced portfolio—commercial, retail and residential—Bhumika aims to smoothen cyclical demand swings and capture high-growth micro-markets.
Catalyzing Local Economy and Infrastructure
This ₹1,000-crore inflection point goes beyond brick and mortar:
- Job creation: Thousands of construction, hospitality and retail roles over the next 3–4 years.
- Ancillary growth: New schools, healthcare centres and F&B clusters springing up around prime TOD nodes.
- Last-mile connectivity: Developers often partner on internal shuttle services and pedestrian pathways, catalyzing further metro/RRTS usage.
For Faridabad residents, this means higher real estate values and improved urban services—fueling a virtuous cycle of private investment and civic upgrades.
What Buyers and Investors Should Watch
- Phasing and Pre-Sales: Monitor whether Bhumika offers early-bird pricing and payment plans to gauge end-user interest.
- RERA Registration and Approvals: Key milestones to ensure timelines and reduce regulatory risk.
- Hospitality Partner: The choice of hotel operator (e.g., Marriott vs. local chain) will affect both footfall and yield.
- Horizontal Layout Plans: Check unit sizes, clubhouse offerings and gated-community features before booking.
Early movers in TOD projects often realise stronger capital appreciation as surrounding infrastructure matures.
A Roadmap for Regional Growth
Bhumika’s Faridabad initiative exemplifies the next phase of NCR expansion: moving beyond high-rise sprawl to integrated, transit-anchored communities. As Sonepat and Panipat come into focus, expect:
- RRTS-led corridors to emerge as premium investment corridors.
- Horizontal-format townships to gain traction among families seeking space, greenery and walkable layouts.
- Retail-led mixed-use as the formula for resilient revenue streams across market cycles.
For both homebuyers seeking lifestyle-led townships and investors chasing stable lease incomes, Bhumika Group’s ₹1,000-crore bet on Faridabad is a bellwether for the region’s evolving real estate playbook.
