One of the well-developed nodes of Navi Mumbai, Vashi is also quite a popular residential suburb. Planned by the City and Industrial Development Corporation (CIDCO), the locality offers state-of-the-art residential and commercial complexes along with a well-maintained infrastructure. Here are some of the prominent reasons to invest in Vashi.
Catering to a plethora of consumer demands through a whole range of offerings in different price brackets, Vashi in Navi Mumbai is definitely on a long-term investor’s list. Having a well-maintained mode of transportation and adequate social infrastructure, which includes well-equipped health centres and multiple shopping complexes, the locality leaves no stone unturned to lure the prospective homebuyers. Owing to the presence of a large number of IT companies and immense job opportunities therein, Vashi is also an ideal destination for the working populace and a lucrative rental hub, too.
Why invest in Vashi?
Adequate social infrastructure:
Vashi is known to have one of the most planned and developed social infrastructures. The locality brims with several international schools, having an affiliation with different boards and colleges. Some of the famed schools and colleges in this locality are St. Lawrence, IES Navi Mumbai High School, and Avalon Heights International School. Not only this, but Vashi also houses some of the best general, super-speciality and multi-speciality hospitals which includes Fortis Hiranandani, Apollo, and MGM New Bombay among the others. The locality also has a well-developed market comprising of several malls, shopping complexes along with retail and grocery outlets. Inorbit and Raghuleela are some of the finest malls in Vashi.
Having a developed network of roadways and railways, Vashi is directly connected to Mumbai via all the major arterial roads of Navi Mumbai such as Palm Beach Road, Sion-Panvel Highway, and Thane-Belapur Road. All these roads are well-served by a number of buses that connect Vashi to prime locales in Mumbai, Navi Mumbai, Kalyan, and Panvel. Other than this, the Harbour Line Railway Network connects Vashi to areas such as Andheri and Nerul. The locality is also connected to the Central suburbs such as Ghatkopar and Vikhroli via the Sion-Panvel Express Highway and is additionally preferred owing to its proximity to the International Airport via the Santacruz-Chembur Link Road and the Mumbai Highway. Vashi also has a dedicated railway station, located merely at a distance of two km via Juhu Road.
Industrial and commercial hub:
Located in the heart of the city, Vashi has developed into an industrial and commercial hub housing several famed companies in IT Parks such as Mahape IT Park, Dhirubhai Ambani Knowledge City (DAKC), and MIDC Industrial Area. Due to the lower cost of operations, a large number of IT companies have shifted their base to Vashi. Vishwaroop IT Park is yet another known commercial space in this locality, having notable occupants such as Orange and Huawei, IBM, ICICI Bank and Eon Services.
Ample housing and pricing options:
Housing options in Vashi include apartments, builder floors, residential houses and villas. Suresh Gupta, Owner, Shiv Shakti Real Estate Agency, Mumbai, avers, “Vashi has steadily emerged as one of the most sought-after locales in Navi Mumbai. There are multiple housing options in this locality. Sector 12, 14, 16, 17, 28, and 59A are some of the residential sectors in Vashi. Normally a 1 BHK unit here would cost between Rs 85 lakh and Rs 1.15 crore. However, you can also get a 1 BHK unit up to Rs 50 lakh in areas such as Sector 9 and 10. As far as the rental rates are concerned, a 1 BHK flat in Vashi is available for Rs 18,000-Rs 25,000 per month.”
According to the data available with 99acres.com, residential units in Vashi are priced around Rs 11,000- 15,000 per sq ft. Neelsidhi Tower in Sector 12, Raheja Residency in Sector 14 and Arihant Sparsh in Sector 26 are some of the acclaimed projects in Vashi.
Prospects for growth:
The demand for residential and commercial units in Vashi is expected to escalate further owing to the upcoming Navi Mumbai International Airport. It is also speculated that property prices in the locality will skyrocket post the development of the airport. Besides this, construction of an integrated bus terminus cum commercial complex in Vashi will also drive the realty growth in the locality in the coming years.
Considering all the factors above, investment in Vashi indeed seems to be a good idea. However, it is always advised to take help from an expert prior to making any notable real estate investments.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.