virar property advice required

Q: IHi, I have invested in virar west HDIL layout 2 years back @4400 sq.ft , Intially there were multiple projects from govt planned in this area like elevated corrider , BKC type commercial hub , coastal rd , metro/Mono rail, viara alibaug corrider everthing got cancelled & Moved to navi mumbai , except alibaug corrider but that too without metro & brts lane as planned earlier , the rates have gone down crashing , is there any hope of recovery or rate appreciation , thousands of unsold flats , whats the prospect and horizon ? Request answer in more details if possible plz .

Yuvraj ,

15th August 2015

Locality Review in Mumbai

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Right Khushisha,
Actually, Yuvraj is seeing the loicality from his points of view but if you look from the buyers and developers points of view the locality is in high demand due to easy connectivity and affordable rates. Almost every real estate company i Mumbai is exploring Virar for launching residential projects. Located in the Thane Districts, it is one of the most affordable suburbs. According to the industry experts, housing sector in this belt might become more attractive in the years to come. It is within an hour's distance from Tarapore MIDC, Mumbai Corporation, Thane Corporation, Navi Mumbai Corporation and Dombivli.

Miraniyatin, Mumbai

17th August 2015

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Hi Yuvraj,
You are right. But, once the proposed Virar-Alibaug corridor project is completed, this locality will connect to four major highways such as NH-8 (Mumbai-Ahmedabad), NH-3 (Mumbai-Agra-Delhi), NH-4 (Mumbai-Chennai) and NH-17 (Goa-Mangalore-Kerala). Virar is divided in two parts, Virar East and Virar West.

The locality has some reputed educational institutions, hospitals, markets/malls in its vicinity as a basic necessities.

The current property rate in the locality is Rs. 2700-4800/sq-ft in Virar East and Rs. 3500-4800/sq-ft in Virar West.

I will suggest you to wait for the next master plan for the locality which will come after 6-7 months, then take any decision.

khushisha, Mumbai

17th August 2015

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