How Beneficial is it to Invest in the properties in Virar?

Mumbai is a city of dreams where everyone wants to come and stay forever. Those who want to live here forever have no choice but to lookout for affordable housing options. This is one of the primary reasons for Virar being emerging as one of the hottest property investment destinations near Mumbai. Situated in the nearby Palghar district, it’s renowned to be one of the most affordable suburbs. Since last one and half decade people have been flocking to this area, particularly the Vasai – Virar belt. Industry experts also opine that the housing sector in this area might become more attractive in the years to come.

Given below are some of the reasons due to which buying properties in Virar West and nearby areas is considered to be fruitful.

Rates of Property

These days many people are getting attracted towards Virar due to the Good infrastructure and decent housing options. If an estimate is to be taken out the rates for property for sale in Virar West go between INR 5,000 to 6,000. The properties in Mumbai have become stagnant due to very high prices which is undoubtedly beyond the reach of lower and middle income group people due to which there is a huge surge in the demand for properties here.

Connectivity

Connectivity with a major city also plays an important role for any area to be developed, which is why the belt of Vasai-Virar garners huge public response. The suburb is well connected with Mumbai through the Western Express Highway and the Western line of Mumbai’s suburban railways. Easy connectivity through local trains has made this location quite popular among buyers.

Real Estate Projects

Several real estate companies in the region are taking advantage of the rising demand. They are providing luxury as well as affordable property options to potential buyers. Several prominent market players have launched their residential as well as commercial projects in Virar. Some investors are expecting a 100% appreciation in capital values of their residential units in coming years.

In 2010, the rates that stood for per square feet were around INR 2000 to 2200 which have now increased to anywhere between INR 4000 to 6000. In the next three years the above figures are estimated to go up at INR 8000 to 9000 per square feet. So, experts opine that now it’s the suitable time to make an informed decision and invest in some good property. Today, with new projects in Virar West coming up this suburb has expanded like anything. Besides great connectivity to Mumbai and good infrastructure the suburb now also has several entertainment options. From entertainment zones and shopping complexes to temples, churches and beaches, this suburb has everything one can ask for a relaxed and affordable living. Also, the state of education has enhanced here with major colleges being encouraged to get maximum number of courses from the government.

Today, many residents from Vasai and Virar belt have invested in this region moving to better apartments with improved standard of living.

Aakash has an in depth knowledge about the Real Estate Industry in India.He has a passion for writing articles on property in Virar and gives an in depth insight on Virar properties.