Located 50 km north of Mumbai and part of the Vasai-Virar twin cities, Vasai, often dubbed “Mini Goa”, has emerged as a promising investment opportunity for home buyers and real estate developers.
A suburban town in the Palghar district of Maharashtra and situated in Mumbai’s green zone, Vasai is a pollution-free sanctuary on the outskirts of Mumbai.
In recent years, its peaceful environment, affordable property rates, and rapid infrastructural developments have propelled the town into the real estate limelight.
The Vasai Creek divides the town into two locales, Vasai West and East, which begs the question, which area is better to invest in?
Here is an analysis of both areas that would help you make an informed decision:
Vasai East:
While relatively underdeveloped, Vasai East offers a more laidback lifestyle in the countryside, with natural attractions like the Tungareshwar Wildlife Sanctuary and the Chinchoti Waterfalls within reach.
Vasai East is well connected by road and rail, with easier access to the Mumbai-Nashik Highway (NH-160) and the Eastern Express Highway. It is, however, farther from the Vasai Road railway station than Vasai West.
Vasai East boasts better economic production due to the many heavy industrial units in the area, with higher job opportunities for its residents. The eastern town is more affordable than the West, with the average carpet area rates being around ₹9000 per sq. ft.
Vasai East also has better investment returns than the West, with the area seeing a higher price appreciation in property rates of 24% in the past five years, with a 6.5% increase in the last year.
Vasai West:
The western town has better social infrastructure like roads, drainage, sanitation, reputed educational and healthcare institutions, and recreational facilities like cinemas, restaurants, etc.
It boasts many tourist attractions like the ruins of the Portuguese Fort Bassein, St. Gonsalo Garcia Church, and Vasai Beach, and has a more cosmopolitan lifestyle than the East.
Vasai West is also well connected to Mumbai, with better access to the Mumbai-Ahmedabad Highway (NH-48) and the Western Express Highway. It is also closer to the Vasai Road railway station.
Vasai West has a more peaceful neighbourhood due to the absence of industrial areas and abundant residential projects.
Rapid infrastructural development and increasing demands have contributed to the higher property rates in this part of town.
The average carpet area rate in Vasai West is around ₹9950 per sq. ft, with a price appreciation of 9.3% over the past five years, and an 11.3% increase in the last year.
While the western town has a slower price appreciation rate, it has more greenfield projects in development.
Which is best?
Thus each locale of the Vasai-Virar town has its virtues and limitations, depending on the wishes and priorities of the buyer.
While the East offers a laidback and peaceful environment with better investment returns, the West promises a well-established cosmopolitan lifestyle with future infrastructure that will only add to its value.
What can be said for certain is that Vasai-Virar offers an attractive investment opportunity with promising returns.
Transport infrastructure projects like the Alibaug-Virar Corridor, Virar-Panvel Corridor, and Virar-Dahanu Project will only ease connectivity and increase real estate demands in the region.
So make the most of this opportunity with Joyville Homes! Their 1 and 2-BHK flats in Virar West at Joyville Virar offer breathtaking views of lush greenery, bringing the joys of resort living to your daily life.
Spread over 7 acres, this sprawling property boasts 7 towers with over 25 unique amenities, with their Goan-themed architecture and interiors celebrating the very essence of Vasai.
To learn more about their 1 and 2 BHK offerings, click here — https://www.joyvillehomes.com/joyville-virar/
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