Buying a property in Mumbai is still a dream for many homebuyers, but a thriving part of the Mumbai Metropolitan Region (MMR) i.e. Virar has emerged as an affordable real estate hub in recent times. Due to this, many people have shifted their base to this region and have started living here.
According to the latest reports, Virar offers housing units mostly in the affordable housing segment whether ready-to-move or under-construction projects. There are many affordable projects available in the developed localities of Virar namely Manvelpada, Phulpada, Chandansar Road and Veer Savarkar Road.
Apart from this many well-developed, planned and proposed developments like extended metro connectivity of the Line-9 of the Mumbai Metro between Mira-Bhayander and Dahisar to Virar, unique sky-walks and Virar-Alibaug Corridor is further attracting many homebuyers towards Virar.
Virar also boasts many renowned educational institutions such as Shastri Vidyalaya High School, Expert International High School, Utkarsha Vidyalaya, Virar, College of Arts, Science and Commerce, English High School, MGM Academy High School, and Little Fairy Monastery.
Real estate experts suggest that with the rate at which Virar is seeing development, property prices here are much affordable as compared to other parts of the Mumbai. For instance, one can find apartments between Rs. 25-60 lakhs on an average with a unit size between 363 sq. ft. to 2,070 sq. ft.
The average price of apartments in Virar east is Rs. 4305 per sq. ft. and Virar (west) is Rs 4,677 per sq. ft. While the minimum price is Rs 4,091 per sq. ft., the maximum price goes till Rs 5,654 per sq. ft.
Some of the prominent developers present in the region are Shpoorji Pallonji, Rustomjee, and Mayfair Housing etc. Kumawat Builders’ Manish Apartments, Ritu Dreams, Shubh Vastu Relcon Kalawati Nagar and Reliable Homemakers Township are key projects in the affordable segment. Major projects which are worth investing in the region are RN Realty Rainbow Heights, Arham Realtors Shubham Regency, Rashmi Smart Homes, and Shantee Group Spanish Residency.
While Shapoorji Pallonji Joyville, Rustomjee Avenue I, Mayfair Housing Primrose and Bhoomi Acropolis are some of the best residential projects which offer good ROI too.