3 Reasons That Have Contributed to the Growth of Real Estate on Vasai Road
Mar 2, 2023
Mumbai has always been an Indian metropolis, and people all over the nation aspire to buy a house in this thriving city. In the past, immense restrictions and development constraints prevented people from investing in their dream homes.
But in the modern era, Mumbai is imposing more emphasis on buyer-friendly compliance and regulations. Therefore, residential investments are now at their peak for major hubs of Mumbai. Among the various residential hotspots in the city, Vasai is one of the prime micro real estate markets worth considering.
New real estate developments are peaking in this locality. And with excellent social infrastructure, more and more people are keen to invest in properties at this place, one option being exploring some affordable range of flats in Vasai West.
To help you better understand the potential of real estate, let’s shed light on a few of the reasons that helped Vasai West grow in this arena.
1. A Completely Seamless Connectivity
The atmosphere at Vasai West is pretty calm for people to live peacefully. The locality offers close accessibility to most major job centers in MMR (Mumbai Metropolitan Area).
The best part of the locality is that you are well-linked from Vasai West to significant locations of MMR. And this is possible through the NH-48 and Western Express Highway connectivity. Some selected projects, such as DMIC, MMR ring road, metro, and bullet train, are primarily under planning, approval, or development stages.
Thus, these upcoming developments will boost both connectivities as well as the infrastructure of Vasai West. These proposed plans are evident contributors to real estate growth in this locality.
Vasai West has excellent connectivity to the southern part of Mumbai, including Lower Parel, Andheri, Goregaon, Dadar, and Malad. People living in Vasai West are in close proximity to several industrial estates and office buildings in & around the locality through the train network.
2. The Mind-Boggling Retail & Social Infrastructure
There are great schools, hospitals, transportation hubs, hotels, and shopping centers in Vasai West. As more and more developers and home buyers are showing their interest in investing in the real estate of Vasai West, there has been a consistent improvement in the retail & social infrastructure of the area.
Some of the top facilities you can avail in Vasai West are:
- St. Francis High School
- Sheth Vidya Mandir High School
- Trinity High School & Junior College
- Junior College of Commerce and Science
- Sunrise English High School & Junior College
- Platinum Hospital
- Alliance Hospital
- Cardinal Gracias Memorial Hospital
- Astha Hospital
- Hotel Imperial Mumbai
- Treebo Trend de Grandeur Hotel & Banquets
- Hotel Royal Hills
Shopping Malls and Recreational Centres:
- Carnival Cinemas
- Dubey Estate Shopping Centre
- Railway Mall
- Viva Swastik Mall
- Magnet Mall
All of these developments, and more in line, are fruitful contributors to the real estate market of Vasai West. Some of the upcoming developments that will probably nourish the overall infrastructure in Vasai West at an even more proficient level are:
- Proposed water transportation facilities that will connect Vasai to Thane and Kalyan. It will reduce the overall transport time and cost.
- A business hub will be built between Vasai and Virar by converting the salt pans spread across 1500 acres of land.
- The proposed bullet train line to pass through the Vasai West.
- The drinking water supply is to be enhanced by the civic body with the laying of pipelines across Vasai West.
- Development of Vasai-Bhayander Bridge for enhancing the connectivity of Vasai West to Bhayander West and other parts of Mumbai.
- A 38-km Ring Road is in pursuit to further streamline the connectivity of this locality to other parts of Mumbai.
- MMRDA has plans to expand the metro network in Vasai.
- The industrial corridor between Delhi and Mumbai will pass through the Vasai Road.
3. Expect a healthy ROI
Vasai West is a hub for affordable homes, one of the significant attractive factors for all home buyers in Mumbai and other parts of India. But even with the affordability factors in check, real estate pricing has increased throughout the past few years.
The current average price per sq. ft. for flats in Vasai West is around Rs. 7000 or slightly more. And this average figure is around 10 to 12% higher than that of the previous year’s average. So, you can conclude that the investment returns for properties in Vasai West are exceptional.
Considering this constant uprise in real estate pricing, more and more people were keen on investing their money. Thus, Vasai West became one of the residential hotspots of Mumbai!
These reasons clearly explain how real estate in Vasai West peaked in the past few years. The focus of authorities on improving the infrastructure and facilities of the demanding regions of Mumbai has helped the city grow.
With this development pace, even the best developers are now eyeing Vasai West and other parts of Mumbai to offer affordable, premium, and luxurious real estate properties within the city.
If you are looking for flats in Vasai West or any other part of Mumbai, then Blox is the perfect platform to find your dream home within minutes. You just have to access Blox, enter your preferred location, pick your developer, select your budget, and choose the property type.