Mira Road is a bustling township in the district of Thane, just north of Mumbai. It is separated from the main city by a marshy creek. Situated on the island of Salsette, it is surrounded by vast salt pans to the west, Vasai Creek to the north, and Sanjay Gandhi National Park to the east, and boasts of unparalleled landscapes and natural beauty.
Mira Road is gradually becoming an excellent residential locality, thanks to affordable property prices and great connectivity, and is soaring in demand among home-seekers. It is governed by Mira-Bhayandar Municipal Corporation (MBMC), who emphasise on residential development rather than commercial. This has led to the establishment of excellent civic and social infrastructure, unlike the congested localities in the heart of Mumbai, and has attracted builders, realtors, and homebuyers alike.
Although it doesn’t officially come under the jurisdiction of Mumbai Metropolitan Region (MMR), it enjoys all the facilities available within the city. Electricity is provided by Bombay Suburban Electric Supply (BSES) & Reliance Energy; MTNL provides telecom services; and the local BEST bus services, which are normally provided intra-city, operate in this region. This has been instrumental in the increase of its population, unlike its suburban counterparts, Vasai and Virar.
Parents have a pick of schools like St Xaviers' School, Vallabhbhai Patel School, and Abhinav School, in both Marathi and English mediums. Although for higher education, Royal College is the only institution around. Along with a municipal hospital, there are many private practitioners who provide healthcare services. While the concept of a shopping mall has just been introduced in Mira Road, many developers have expressed the desire to set up more.
Connectivity and Transit Points
Mira Road’s great connectivity to the mainland of Mumbai and the suburb of Thane by road and rail allows for stress-free commuting.
Mira Road is one of the stations on the Western Line of Mumbai’s intricate railway network, and comes immediately after the rail-head of Borivali. This line connects Mira Road to important and popular areas in Mumbai, such as Andheri, Bandra, Dadar, Mumbai Central, and Churchgate.
With regard to road connectivity, Mumbai’s BEST buses operate in this locality, connecting it to most parts of the sprawling city. The Mira Road-Bhayander Link Road is located close by, and this supports east-west connectivity, easing traffic snarls and promoting greater movement.
Vardhman Fantasy Park
Sanjay Gandhi National Park
Factors for Growth in the Past
Mira Road was once a self-sustaining rural locality with massive tracts of agricultural land. The presence of Gram Panchayat did not spur builders to consider large-scale development in the area and as a result, no one moved into Mira Road initially. Within a few years, however, Mira-Bhayandar Municipal Corporation (MBMC) was established, and townships began to develop, which acted as a catalyst to its progress.
By the 1980s, builders began to purchase the agricultural land and develop residential complexes on it. With the support of the MBMC, civic authorities were able to create basic social and civic infrastructure, leading to an influx of home-seekers.
Needless to say, what was once an erstwhile agricultural village, with no water or electricity supply, became a thriving economic entity, boasting of great expansion and growth.
Residential & Commercial Market
Having only recently tapped into its residential potential, Mira Road houses a large number of multi-storey residential complexes, and builder floor apartments, with bungalows and individual houses being sparse.
The current sales trends for multi-storey apartments in Mira Road fall within the range of Rs 7,200 per sq. ft. to Rs 8,400 per sq. ft. Monthly rental rates vary from approximately Rs 7,500 to Rs 15,000 for a 1 BHK, and Rs 11,000 to Rs 30,000 for 2 and 3 BHKs. Most sought-after areas in this locality include Shanti Nagar, Naya Nagar, and Lodha Complex.
Mira Road is more of a residential area than a centre for commercial activity. However, a few shops and offices have sprung up in this area. Current sales trends for commercial space falls within the bracket of Rs 9,300 per sq. ft. to Rs 14,300 per sq. ft.
A well-designed and well-maintained locality in the otherwise harsh and polluted city of Mumbai, Mira Road doesn’t have many civic challenges.
Power cuts are rare, and water is supplied in abundance. The only point of concern that is worth being raised is the damage inflicted upon the roads by the Maharashtrian monsoons.
Factors for Growth in the Future
Improvements in the social and civic infrastructure on Mira Road will provide the necessary impetus to the housing market growth.
MMRDA has proposed four-lane roads connecting the locales of Gorai and Bhayandar, along with the widening of existing roads. Mahim-Mira Road is an important Fast Track Bus corridor in the much-awaited Bus Rapid Transit System (BRTS). This system, once operational, will lift some pressure from the congested roads and the overflowing local trains considerably. The MMRDA are also considering developing a skywalk near Mira Road railway station, allowing for safer pedestrian crossing.
The biggest mall in Mira road, Orchid Zone, is slated for completion early next year, and this is expected to create a tremendous property boom in the area.