Vile Parle is known for the classy and opulent lifestyle of its residents. The posh suburb is located in the western part of Mumbai and offers a perfect blend of traditional charm and modern living. From a cluster of a few villages to a bustling real estate hub, the real estate evolution of Vile Parle is truly inspiring.
Investing in property in Vile Parle is today considered a profitable option by both homebuyers and investors. The suburb is situated between Vasant Vihar and Sindhi Colony. It is one of the most well-developed neighborhoods of Mumbai, and hence the property rates in the area are relatively higher. However, before learning more about the real estate growth of the locality, let's gain a better understanding of its history.
Vile Parle is one of the oldest localities in Mumbai and dates back to ancient times. It was originally known as Parla, a name derived from the Sanskrit word Paralaya, which means the abode of snakes. later in the early 1800, a large community of Christians, known as Padale, lived in the area. However, when the construction of the Colaba-Virar railway line began in 1867, the area was divided into east and west zones. The area then came to be known as Vidlai-Padlai, which then became Vile Parle with time. Many people are also of the opinion that the name is derived from the temples Virleshwar and Parleshwar located in the area.
Having learned about the history of the neighborhood, it is time to look at the various factors that have boosted its real estate growth. The most important of these factors include the following.
Vile Parle offers excellent connectivity to other parts of Mumbai through rail, road, and metro. The neighborhood is located at a distance of only 0.5 km from Chhatrapati Shivaji Maharaj International Airport. In addition, the Vile Parle is a Railway Station that ensures hassle-free connectivity through the Western and Harbour Line of the Mumbai Suburban Railway network. The Western Express Highway station of Mumbai Metro Line 1 is located only 2.9 km away from the neighborhood. Moreover, the area also enjoys excellent bus connectivity to and from different routes in Mumbai city.
Vile Parle is emerging as a major education hub of Mumbai city. The suburb houses some of the most prestigious schools and colleges known for providing quality education to children. Schools like EuroKids, Air India Modern School, Rameshwaram English Medium School, St. Mary’s High School & Junior College are famous for the excellent academic performance of their students. In addition, the area is also home to renowned colleges, including Mithibai College, Narsee Monjee College of Commerce and Economics, Dwarkadas J. Sanghvi College of Engineering, and NMIMS University. The presence of these top educational avenues has also inspired people to invest in property in Vile Parle.
Vile Parle is located only at a short distance from major commercial and business hubs. This makes the locality quite appealing for working-class people keen on reducing their travel time. The commercial centres of Bandra, Vikroli, and Andheri East are all located within a distance of 16 km from Vile Parle. Moreover, the suburb itself houses various corporate offices, commercial complexes, and IT Parks. This has further enhanced the demand for residential properties of different sizes and types among homebuyers as well as investors.
People investing in property in Vile Parle are likely to enjoy a decent return on their investment. This is because the real estate growth in the area has been showing an upward trend for the past several years. The excellent social and civic infrastructure of the locality has further helped in attracting potential investors. Moreover, several new and under-construction projects from renowned real estate developers have created a great diversity of options for interested investors. All these factors have collectively helped in furthering the real estate boom in the area and assuring investors of a promising future with good returns.
Vile Parle has come a long way in terms of real estate growth and development. It is one of the best places to invest in property for both personal use and for profit making. Simply owning a property in the suburb can elevate the status of the investors considerably and open new avenues of growth.
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