Hi my budget is 30 lacs , the purpose is of investment I have been seeing flats for 1 Bhk in Virar west in global city i

Q: Hi my budget is 30 lacs , the purpose is of investment I have been seeing flats for 1 Bhk in Virar west in global city in all reputed builders however the rate have gone really high around 34 lacs , I need advice which is the better option for investment am considering Naigaon as an option , can you suggest some good option to buy property

purvi,

16th January 2017

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investment advice in naigaon east

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Replies (4)

Yes, Naigaon is developing at a fast pace. After formally coming into fold of VVMC in 2015, the development has picked at a good pace with wide new roads, street lights, different types of shops getting opened etc.. Roads leading upto highway and upto Vasai East have also been redone and transport is quite smooth now.
About the infra development, yes there is a highway proposed that will connect directly to Vasai. However, that is a 10 year process just like how Miraroad has developed.

Ramesk Polekar, Mumbai

16th January 2017

Comment

Yes, property in Naigaon is available at attractive rates 4200-4500/sq-ft compared to rates in Virar 4600-5000/sq-ft. So, scope of appreciation looks more in Naigaon. I expect entire belt from Naigaon to Virar to be priced in same band over time, once whole area develops.

Kishore Pathak, Mumbai

16th January 2017

Comment

Yes, Naigaon has good potential to grow. Appreciation in future will be good but only if the east-west flyover bridge is completed, property prices may double in quick time. Long term investment will bring in assured returns.

Ramesk Polekar, Mumbai

16th January 2017

Comment

In my opinion, Naigaon East looks quite promising given the below facts:-
1). Area is under rapid development and shaping up like a new mini city, with proper planning by MMRDA, govt agencies, etc.
2) Proximity to Mumbai. Infact distance from Mumbai limits to Naigaon East is quite shorter even when compared to Ghodbunder Road, etc. Virar East is good, 40 kms from Mumbai limits. Going to Virar West is going to take at least 10-12 Kms more, since the projects are in the interiors.
3) If you study the property trends along the Western Line, East has always given more appreciation compared to West, mainly because of proximity to highway, etc.
4) The current challenge that I feel with Virar is oversupply. Too many projects being launched, under construction, etc by different builders. I would be cautious when investing at these price levels.

Deepankar Godbole, Mumbai

16th January 2017

Hi Purvi,
Naigaon is one of the best places for investment . The Location is excellent in the region with almost all important proposed public infrastructure projects in vicinity. Locality is just 10 min away from Naigaon station and Ju Chandra station from where trains to Navi Mumbai could be accessed. Proposed Asian Heart Institute right adjacent to this locality. Transport facility is also good in the locality. Don Bosco School and other ICSE International Private school is about 5 min away. Naigaon is a part of the proposed Western Railway Elevated Corridor connecting Churchgate and Virar. Overall, locality is good for investment as well as for end use.

Ashish Bhoite, Mumbai

16th January 2017

Comment

Yes, i am agree with Ashish.....
If you see the entire stretch from Mira Road to Virar, all the places are nearly occupied by new construction. Moreover in Naigaon the construction happening is near the railway station, which is not available in the entire stretch, even global city of Virar is so far away that you cannot reach walking as you can in Naigaon. Once all the constructions are completed the returns will definitely be twice what you have invested. The better example is Mira Road. which has become a boom for the investor as well as for the end users.

Kishore Pathak, Mumbai

16th January 2017