Top Reasons for Investing in Luxury Properties in Virar

When compared to other suburbs in Mumbai, Virar is one of the most affordable locations for property investment. It is like a township in Thane which has undergone significant infrastructure growth in recent times.

Real estate companies are launching various residential projects in Virar as they are seeing a strong possibility of the Vasai-Virar belt emerging as the hottest property investment destination in Mumbai. Some developers are luring buyers by offering them assured rental income for 36 months on their 1, 2 or 3BHK flat. As the housing sector in this belt is growing in demand, more and more buyers are flocking to this part of Mumbai for buying a property, especially luxury properties in Virar. 

If you are staying in this location you will be in close proximity to important places such as Tarapore MIDC, Mumbai Corporation, Dombivli, Navi Mumbai Corporation, Thane Corporation. Even the domestic as well as international airport is in close proximity to this area. 

Vasai-Virar is one of the fastest growing cities in Maharashtra, also identified as one of the eight satellite cities by the central government. In 2012, an annual budget of 1,266 Crore was presented for the infrastructural development of this belt. This city has been taken under the Urban Infrastructure development Scheme by the Ministry of Urban Development. 

It has become the only city from Maharashtra to be selected under this scheme. Various infrastructure projects planned for the region will be transforming this area into a metropolitan city in the coming years. Due to increase in property rates in Mumbai, low and middle-income household have started shifting to this area. 

This part of Mumbai is strategically located to other important areas of the MMR (Mumbai Metropolitan Region) such as Kalyan, Thane, Bhiwandi and Panvel. Road and rail connectivity of this region with other parts of the city is quite good. Mumbai-Ahmedabad National Highway (NH-8) passes through Virar’s eastern part. It is also well-connected with western and central railway.

Along with a steady influx of population, the Vasai-Virar belt has been seeing a rapid growth in infrastructure. It is emerging has a preferred destination for buying properties with office premises shifting from south Mumbai to the western suburbs of the city. 

Property experts have estimated that by 2021 incremental demand in Vasai-Virar region will increase to 472,574. Capital value of properties in Virar falls in the range of 4000 to 6000 INR per square feet. Capital values have doubled in the last few years and therefore, it might be the right time to invest in this area. 

Besides connectivity and infrastructure development, this region also has various entertainment options such as Yazoo Park. With the Alibaug-Virar corridor, it has become easy to travel from Virar to the new airport. Various small scale industries are also being set up in this region due to which many people are getting employment. Virar also has various colleges, hospitals and schools.

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