Real Estate Trends in Nalasopara, Thane

Nalasopara is a suburb in Mumbai and a town within Mumbai conurbation. Nalasopara is a very old city and is located near Sopara which was a chief and important port in ancient times. Sopara or modern day Nalasopara has been there since the days of emperor Ashoka. Modern day Nalasopara is divided into East and West, the western part being more developed and connected due to planning.

Access and Connectivity

Nalasopara can be accessed either by rail or road. It is very close to the National Highway 8 (NH 8). One can take the Western railway from Mumbai or Thane towards Virar to reach the Nalasopara railway station. If traveling by road, one can take the Western Express Highway from Mumbai or Ghodbunder road from Thane and connect to Delhi-Mumbai highway (NH 8). Nalasopara is about 1 hour and 15 minutes from Mumbai and about an hour from Thane.

The Chhatrapati Shivaji International Airport is the nearest airport from Nalasopara and it takes a bit more than an hour to reach the airport. There is currently no metro station in or around Nalasopara.

Amenities

Nalasopara is divided into East and West. Nalasopara has good amenities such as schools and colleges. It also has a few regular hospitals and a multispeciality hospital. Other amenities include movie theaters, parks, restaurants, a cricket ground, lakes, housing societies and various places of worship. There is also a Sanghmitra Gandhkuti Budh Vihar in Nalasopara which has a park and an ancient Buddha Stupa.

Real Estate

The area saw a steep rise in population since 1998 due to cheap property rates. With rising population, the property rates too have risen over years. However, the property rates are much lower compared to many other Mumbai suburbs. As the area is being more developed, there are several 1 and 2-BHK apartments, builder floor apartments and independent houses springing up in the area and available for purchase. There are not many 3 and 4-BHK properties in this locality yet.

The area of 1-BHK property ranges from 350 – 600 sq-ft. A 2-BHK property may have a coverage area of 530 – 775 sq-ft.

Property Trends

The rent for a 1-BHK property in Nalasopara is between Rs. 2,200 – 5,000. Rent for premium properties can even go up to Rs. 10,000 per month. A 2-BHK property is available for rent of Rs. 6,000 – 8,000. A 1-BHK property can be bought at a price range of Rs. 6 lac – 30 lac. Some premium properties may cost up to Rs. 2.7 crores. A 2-BHK property can be bought for a price of Rs. 23 lacs – 40 lacs. Some 3 and 4-BHK properties are available for purchase and can be purchased for a price of Rs. 53 lacs – 72.75 lacs.

The prices of properties in Nalasopara are constantly on the rise for the last three years. While the price per sq-ft for a multistorey apartment went up from Rs. 2,250 – 4,160, the price for a builder floor apartment went up from Rs. 3,400 – 3,570 per sq-ft. The price for a residential house went up from Rs. 2,400 – 4,240 per sq-ft.