Virar, named after the Goddess Eka-viraa, is a part of the Mumbai Metropolitan Region. Real Estate in Virar has been booming. The area has excellent connectivity, more open space and social infrastructure is no less compared to the other suburbs. Another added advantage of buying property here is its easy accessibility to Mumbai via the Western Express Highway, which is just 5 kms from the area and the Metro is only in 3 kms. The roads are also constructed well and are in good shape.
People get the benefit of travelling through local trains as Virar being the first station on the western railway’s suburban line, It is the only station, which isolates Mumbai from other locations like Vaitarna, Safale, Kelwe, Palghar and Boisar. “What we have seen over the last few years, is that Virar has grown manifold. There is very good railway connectivity to and from Mumbai. Since 2007, the railway line has quadrupled in Virar. Travelling is just about one hour from the Bandra Terminus.” shares Ashok Mohanani, Chairman and Managing Director, Ekta World.
Also, there are various housing and road transport development projects initiated by the corporation with the help of the Mumbai Metropolitan Region Development Authority (MMRDA). The skywalk in Virar west was one of the first amongst the many skywalks that were built. The Virar east skywalk is uniquely built, as it goes right over the Totale lake, situated in the backdrop of the VVMC Corporation building.
Another important advantage of the area is that it is a major source of water. The three rivers – Tansa, Vaitarna and Surya, flow via Virar. Surya and Vaitarna’s catchment receives more than 100 inches of rainfall every monsoon. That is why, in the near future, the whole of Mumbai will get its water from the Thane district. The big Pinjal Dam Project, which is vital for Mumbai, is in close proximity to Virar. The second stage of the Surya River project is under implementation and will solve the water problem of the area.
“There is a project happening on the sub river Susri, which will provide 400-500 mld (million litres a day) of water within three-four years. The requirement for our 15 lakhs population, according to new rules, is approximately 200 mld. We get 130 mld currently and some have their own sources.” informed by Narayan Mankar, mayor, Vasai Virar Municipal Corporation (VVMC).
Also, many small-scale industries are being set up here leading to lot of employment opportunities. Currently, many people in Virar seek employment at Tarapore MIDC. Mankar states, “Our education facilities are good. We have seven senior colleges and 20 junior colleges.”
Despite the development process is still undergoing, the area is furnished with all the basic infrastructure facilities like schools, hospitals, supermarkets and banks. The city’s public school system is managed by the education ministry of the Government of Maharashtra. The city has Marathi as well as Hindi medium schools. There are also other private schools, which are offering syllabus under the Central Board of Secondary Education (CBSE), like Matrix Academy Schools at Kharodi. There are few schools which are providing Indian Certificate of Secondary Education (ICSE) curriculum. The Rustomjee Cambridge International School and Junior college have also come up near Global City, Virar. The late Shri Vishnu Waman Thakur Charitable Trust and the Agashi-Virar-Arnala Education Society are the two most prominent bodies, which have opened many institutes offering education, ranging from kindergarten to higher education in Virar.
“The area offers multi-dimensional benefits for middle-income and lower-middle-income groups. The infrastructure development projects are on takeoff mode in Virar. The property market here, is investor-cum-end-user driven and both these segments are benefiting well with the prevailing property trends.” explains Boman R Irani, president, the Vasai-Virar MCHI units.
Real estate has been booming because of players like Rustomjee, Ekta World, Bhoomi Group, Poonam Group, which have many good projects in the area. Virar is being considered as a major development city in the next two-three years. As per experts belief, one who is looking out for affordable housing projects, low- and high-yield investment near Mumbai, Virar is a good option. One room kitchen, one-BHK and two-BHK flats in Virar are coming at a reasonable price bracket of Rs 15-30 lakhs, while the prevailing rates are Rs 3,250-5,500 per sq ft. The built-up area of a one room kitchen is about 350 to 450 sq ft and a one-BHK unit here is about 520 sq ft and two-BHK is 760 sq ft.
The Virar-Alibaug Corridor Project, an ambitious project undertaken by the MMRDA, has given the area another push as it is looked upon as a major developmental milestone in the history of Virar. The Rs 10,000 crore project is expected to provide seamless connectivity by the Metro as well as by road from Alibaug to Virar. The corridor will bypass the western and eastern suburbs and also the routes, which will witness growth in the future.
Virar east has developing locations like Manvelpada, Phulpada, Chandansar Road, Veer Savarkar Road with property rates around Rs 1,800-2,200 (approximate figures). The development between Virar and Nalasopara is picking up pace. Property rates are lower in that location because of the distance from station.
The west is more developed between Bhayander and Virar. Property rates are comparatively less at locations like, Gokul Township, Virar Gardens, Yashwant Nagar, even though they are just 10 minutes from the station by auto. Some upcoming locations are Gokul Township (Agarwal Group, Mehta, Vinay Unique, etc.), Virar Gardens (May Fair), Yashwant Nagar and Tirupati Nagar located on the developing Viva College Road connecting the highway.
Also, MHADA authorities of its Konkan Board would be coming up with a lottery for over 5,000 affordable housing units in Virar (east) in 2014. The important feature of this project is that all the units are being constructed on a 43-hectare plot. This will be for the first time in the history of MHADA that houses released will be constructed at one place.”
“The only issue this area had was that there were cases of illegal construction, which mushroomed in the area. So, we advise buyers to check property papers properly before purchasing property in this area.” informed by Property consultants.
Source: The Times of India, Mumbai
Courtesy :Real Estate News and Trends in India
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