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Ways How Vasai is Fixing Its Connectivity Issues for Home Buyers

Blox Social
Posted on
Apr 21, 2023

The Maharashtra Housing and Area Development Authority (MHADA) has identified some land parcels, creating affordable housing projects throughout the Mumbai Metropolitan Region (MMR). And the Vasai-Virar belt is expected to benefit significantly from it. As a result, experts predict that the region's affordability will become a significant driving force in attracting both homebuyers and investors.

Virar has emerged as the most significant residential areas in Mumbai. The government and regulatory bodies actively promote infrastructure projects in the Vasai-Virar region, backed by a massive investment of Rs. 10 lakh crores. The successful completion of these projects is expected to revolutionise Mumbai's landscape and establish Virar as one of the most desirable residential locations in the city. Let us have a look at these projects:

Virar-Versova Sea Link

The Virar-Versova Sea Link project aims to establish a direct connection between Virar and Nariman Point, reducing the travel time to one hour. This ambitious initiative is an extension of the ongoing Bandra-Versova Sea Link project and covers a distance of 43 km. The sea link will comprise a 4+4 lane main bridge, with 3+3 connectors at Uttan, Vasai, Charkop, and Virar. The government has allocated Rs. 50,000 crores to this project, which is anticipated to be completed this year.

Virar-Alibaug Multimodal Corridor

The Virar-Alibaug Multimodal Corridor is a 126 km-long project that promises to unlock economic opportunities and facilitate regional residential growth. It will connect several major routes, including NH-3, Bhiwandi bypass, NH-4, NH-4B, NH-8, Mumbai-Pune Expressway, and NH-17. This corridor is a crucial step towards strengthening and developing the seven growth centres in the Mumbai Metropolitan Region (MMR), including Bhiwandi, Virar, Dombivali, Kalyan, Taloja, Panvel, and Uran, with significant job opportunities. The project is expected to be completed by 2026, reducing travel time from Virar to Alibaug by 50%.

Mumbai-Ahmedabad High-Speed Rail

The Mumbai-Ahmedabad High-Speed Rail (MAHSR) project, also known as the Ahmedabad-Mumbai Bullet Train, is currently underway and spans a distance of 508.17 km. This project aims to reduce travel time between Mumbai and Ahmedabad to just 1 hour and is projected to cost around US$15 billion. Japan has offered a loan of US$12 billion at an unprecedented interest rate of 0.1% to fund the project. The project's expected completion date is 2026, and Virar is one of the twelve stations proposed along the route, which is expected to accelerate infrastructure development in the region.

Virar-Vasai-Panvel line

Approved by NITI Aayog in 2016, the Virar-Vasai-Panvel line is a significant project expected to improve connectivity in the surrounding areas and boost real estate in the adjacent corridors. The massive project requires almost 85 percent of the budget for Mumbai Urban Transport. The line will pass through Bhiwandi, Vasai, Kalamboli, Kharbao, and Diva, connecting these suburbs to the city.

Delhi-Mumbai Industrial Corridor

The Delhi-Mumbai Industrial Corridor is a unique 1504 km route connecting two major cities, Delhi and Mumbai, passing through several states such as U.P., Haryana, Delhi NCR, Gujarat, Rajasthan,  and Maharashtra. The terminals of the corridor are set to be located at Dadri in Delhi NCR and Jawaharlal Nehru Port (JNPT) near Mumbai. This ambitious project, expected to be completed in 2023, will create crucial trade corridors and industries, bringing significant opportunities to Virar.

According to experts, the project has the potential to create a new urban cluster between Virar and Panvel, making areas such as Kharbao, Bhiwandi, Diva, Kalamboli, and Panvel potential hotspots that could witness appreciation in property prices once the railway line becomes operational and connected.

Metro Line 13

The proposed Metro Line 13 will be a 23 km-long stretch connecting Mira Road to Virar, with 20 stations planned along the way and links to other adjoining metro lines. Upon completion of the project in 2026, it will significantly improve Virar's connectivity to the entire Mumbai Metropolitan Region (MMR).

Impact on Virar’s Real Estate Market

The presence of mass transport systems, including airports, buses, and local suburban train networks, can significantly impact the real estate market in a region. Virar has greatly benefited from seamless connectivity through the suburban rail network. And while the demand for flats in Vasai West for sale has increased in the area, the price of the properties has also surged. In the Apr-23 quarter, the estimated average price for a multistory apartment in Virar is ₹ 5,497, which reflects a 2.20% increase from the previous quarter (Jan-23).

Virar's natural beauty and expansive greenery already promote a healthy lifestyle, but these infrastructure projects in Mumbai will establish new benchmarks for modern living and opportunities in the region.

Final words

In conclusion, Vasai is taking proactive steps to address its connectivity issues for home buyers. With these developments, Vasai is set to become one of the most sought-after residential destinations in the Mumbai Metropolitan Region.

Real Estate