Realty hot spot series: Average price of 3 BHK in this Mumbai suburb is Rs 67 lakh

This week ET Wealth's realty hot spot series takes a look at an emerging property market in suburb of Mumbai - Vasai-Virar. The area offers both ready-to-move and under-construction homes. The locality is well-connected with key areas of MMR through NH-48, Ghodbunder Road and Western Railway Line.

The area is 47KM away from the airport, 6KM from the railway station and 8KM from NH-48. The price range of apartments in Vasai-Virar is between Rs 3,500 and 7,656 per square feet. The average price of 1 BHK, 2 BHK and 3 BHK is Rs 29 lakh, Rs 45 lakh and Rs 67 lakh respectively.

Locality snapshot: Vasai-Virar, Mumbai

• Emerging real estate market with ready-to-move and under-construction residential projects
• Prominent schools are Ryan International, Don Bosco, St Mary’s English and St Aloysius, among others
• Hospitals include Riddhi Vinayak Multispeciality Hospital, Alliance Hospital, IASIS Hospital, etc.
• Retail avenues are Dattani Square Mall, Dubey Estate Shopping Centre and Laxmi Shopping Centre
• Well-connected with key areas of MMR through NH-48, Ghodbunder Road and Western Railway Line

Supply by BHK

Consumer preference by budget segment (Rs)

Consumer preference by covered area (sq ft)

• Schools 10+
• Hospitals 5+
• Restaurants 20+
• Banks 20+
• Grocery Stores 20+
• Petrol Pumps 5+

Source: Magicbricks