Demand for properties in Vasai-Virar suburb increasing

01 Mar 2016

The Vasai-Virar suburb on the western line could now be counted among those suburbs, which boast of greenery, history and great places for family outings. Currently, properties can be found in the price range of Rs 20 lakh and onwards. Competitive pricing and bigger size apartments encourage buyers to choose Vasai. "A person living in a small 1BHK flat in Borivali, can afford a 2 or a 3-BHK at Vasai at the same cost and still be left with some capital," says Pankaj Sharma, a digital marketing professional staying in Vasai for the last 20 years.

"Talking about the affordability factor, this location is attractively priced for both, commercial as well as residential property. Due to the recent infrastructure development and strides in the connectivity domain, the ROI of this area has marked a 50 percent profit increase on the investment front too. The property that was bought five years ago at the price point of Rs 15 lakhs is available at the price of Rs 25 to 28 lakhs. The population growth and high property prices in Mumbai have accelerated the demand for property in these areas," says Chintan Sheth , director, Sheth Corp.

The municipal corporation of Vasai-Virar is making commendable efforts to improve the civic amenities for the residents; however, there are areas of improvement. "The ratio of the people moving into these areas over the last five years has improved drastically. Nalasopara has developed over the years; however, the east still lacks strong connectivity and has very minimal access to the railway station, which is in a state of dire improvement. Skywalks is another feature, which helps boost connectivity; however, in the case of Vasai, it does not serve the purpose," says, Amar Kansara, a resident of Vasai.

While Vasai Virar has always been well-connected with the main Mumbai city through the western line, population migration over the last 10 years has made daily commute very cumbersome for commuters. "Despite an increase in the number of trains and local services, commute during rush hours remains extremely tiring because of the sheer size of crowd. Road connectivity has also improved due to the increase in the number of over bridges and VVMC buses. However, daily commute via road remains the least preferred option due to the traffic and distance," says Dhwani Pandya, a media professional residing at Vasai. 

In the last five years, Vasai has become a railway junction too. Even the link roads, which are connecting Vasai, Nalasopara and Virar, have helped people travel by road. "Now, the only missing factor is the distance of these locations from the Western Express Highway. Each of these locations are almost 10-15 kms away from the highway. What we heard in-between was that there would be a parallel road off the railway track upto Bhayander-Borivali. If this works out, a lot of people will actually start travelling by road. Hence, the need of the hour is to extend the benefits of the western suburbs to the people residing in the Vasai-Virar region as well," adds Khansara. Vasai-Virar has many benefits associated with it, which make it a sought-after destination.