Nalasopara in the Mumbai Metropolitan Region (MMR) is a developing locale governed by the Vasai-Virar Municipal Corporation (VVMC). The area boasts of excellent connectivity, developing social infrastructure, and competitive property prices. As per 99acres price trends, average home values in Nalasopara hover at Rs 4,100 per sq ft.

Nalasopara has been part of Mumbai since long; however, it is only in the last 4-5 years that the micro-market has witnessed increased real estate expansion and homebuyer demand. The main attraction for this area is its seamless connectivity via road and rail infrastructure and the improved supply of residential properties.

According to Mohammad Yusuf, Director, Shapoorji Pallonji, Mumbai, “Nalasopara has become the choice of buyers for the want of connectivity. It is the first and the last station on the Western Railway Line, offering seamless ride to different parts of MMR. Besides, a range of futuristic projects are also planned in Nalasopara, with the Bullet Train station underway, being the most prominent one.” The presence of expressways, amazing eateries, supermarkets and specialised hospitals, all within three km, make this destination a suitable option for homebuyers.

"Nalasopara has become one of the most lucrative and desirable housing and commercial hotspots in the western belt of Mumbai. Being one of the first locations to witness infrastructure development in the region, the realty growth here is taking place at a lightning rate. The area is well-planned and offers robust connectivity to employment hubs in Mumbai,” says Rohit Poddar, Managing Director, Poddar Housing and Development Ltd.

Factors fuelling residential growth in Nalasopara

Competitive property prices

According to 99acres listings, most of the residential units available for sale in Nalasopara are in the budget of Rs 30-60 lakh. While the properties in Nalasopara West are relatively affordable, i.e. Rs 3,700-4,500 per sq ft, they are pegged slightly higher in Nalasopara East, ranging between Rs 3,900 per sq ft and Rs 4,600 per sq ft.

With respect to rentals, a 1 BHK configuration in Nalasopara West is available at Rs 4,800-5,200 per month, while a 2 BHK property is available for Rs 7,500-9,700 per month. In Nalasopara East, a 1 BHK housing unit is available at Rs 4,700-6,000 per month.

“Since the renting cost of properties in Nalasopara is considerably low, most young professionals working in places like Borivali, prefer living here. Borivali is an affluent area about 35 km from Nalasopara; however, the optimal railway connectivity make the commute hassle-free for tenants,” adds Yusuf.

RERA-registered residential projects in Nalasopara, Mumbai

Project

Builder

Configurations

Price

Status

Ramesh Heights

Nilemore

1,2 BHK

Rs 25 lakh onwards

Possession 2023

MAAD Nakoda Heights

Maad Group and Shreenath Enterprise

1 BHK

Rs 23 lakh onwards

Ready to move

Om Sai Heights 2

Sai Shakti Group

1 BHK

Rs 27 lakh onwards

Ready to move

Shree Adeshwar Anand Heights

Shree Adeshwar Corporation

1,2,3 BHK

Rs 22 lakh onwards

Ready to move

Shree Manibhadra Heights

Shree Construction

1 BHK

Rs 22 lakh onwards

Ready to move

Source: 99acres

Investment potential

“Over the past decades, Mumbai has brimmed up and overflowing to the suburbs and beyond. However, with suburban pockets like Nalasopara, price-sensitive buyers have the option of residential investment. Lower-property rates and the reduced home loan interest rates offered by financial institutions lately, also provide homebuyers with lucrative options like never before. Moreover, as the area is still in its developing stages, there is immense scope for price growth and higher capital returns,” adds Poddar.

Connectivity

Once a place falling on the suburbs of the city, Nalasopara now offers many conveyance options. For instance, Nalasopara Railway Station on Mumbai's Western Railway Line links it to several prominent areas of the city, such as Goregaon, Malad, Andheri, Vile Parle and Santacruz, among others. Nalasopara Railway station is one of the busiest stations in Mumbai. Trains departing from this station run between Churchgate in the South and Dahanu Road in the North.

Nalasopara-Virar Link Road also adds to the connectivity quotient of the region. To connect Nalasopara with the Mumbai Metro network, the State government has proposed a 23 km-long metro corridor (Purple Line 13 of Mumbai Metro) to link Mira Road with Virar, nearby areas.

Commercial hubs

The eastern part of Nalasopara is heavily industrialised, with multiple small and medium-scale manufacturing units of Pharmaceuticals, Steel and Polymer. A few companies situated in Nalasopara are Alpine Software Solutions, Blossom Publication India Limited, and Coherent Technology Solutions.

Social amenities

One of the main tourist attractions of the area is the Chakreshwar Mandir, which is an old Lord Shiva shrine. Furthermore, the area has over 50+ schools, including Sheth Vidya Mandir High School, St Peters School and the Ryan International School. It also has several hospitals, restaurants and financial institutions nearby, making it one of the most suitable residential destinations for price-sensitive homebuyers.

Nalasopara would continue to remain a preferred choice for mid-income investors in Mumbai. While the COVID outburst distressed the market dynamics temporarily, the area has witnessed a resurgence in demand, with average property prices growing by around four percent in Jul-Sep 2021 QoQ (Source: 99acres Price Trends). However, before undertaking a residential investment, check if the project is RERA-registered. Besides, you may also consult a property agent for an informed decision.