Vikhroli property market: An overview

[ecis2016.org] Vikhroli is suburb that lies in the heart of the city of Mumbai. This locality is a residential area mainly that is located in the eastern part of Mumbai. The Godrej group has a very strong connection with this locality. The group started their projects in this locality as this area as excellent connectivity with other areas and also a very strong social infrastructure. There are several big residential complexes in this area and has today turned out to be a very demanding residential area among the people.

Vikhroli is a very important residential locality in Mumbai. It is surrounded by important localities

You are reading: Vikhroli property market: An overview

like Powai, Haryali etc. Vikhroli is often divided into Vikhroli East and West, though both lie close to

each other. The Godrej group before independence first started constructing their projects in this

area. According to them this area was perfect for their residential projects and over the years they

built several projects in this locality. The three top residential projects in Vikhroli by this group is

Godrej Platinum, Godrej Trees, Godrej Interio. There are several other builders in Vikhroli who have

constructed residential projects. There are popular residential colonies in this locality like Parksite

colony, Raj Legacy. There are several upcoming flats and apartments in Vikhroli to meet the desires

of the people.

Connectivity with nearby Vikhroli localities

 The Chatrapati Shivaji International Airport is 19.1 km away

 The Central Railway Station of Mumbai is 23.4 km away

 The main roads that connect to Vikhroli are Agra Road, Lal Bahadur Shastri Road and Eastern

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Express Highway etc.

 There are several bus stops also in the area

Schools in Vikhroli and other social amenities

The social infrastructure is well developed. There are several schools, colleges and hospitals,

amusement parks etc in this locality. There are several banks and ATMs, petrol pumps and other

civic and commercial establishments are close by. The schools in Vikhroli are St. Joseph’s High

School, Agarwal Institute of Management and Technology. The hospitals in Vikhroli are Godrej

Memorial Hospital, Laxmi Health Care Centre and ICCU. The shopping malls in Vikhroli are Reliance

Energy Store, Anand Commercial Complex etc. There are amusement parks in Vikhroli like Palm

Garden – Godrej, Priyadarshini Garden etc.

Employment hubs near Vikhroli

 The distance from Bandra to Vikhroli is 19.4 km via Chembur Road

 The distance from Navi Mumbai to Vikhroli is 21.8km

 The distance from Powai to Vikhroli is 10.6 km via Eastern Express Highway and JVLR

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 The distance from Lower Parel to Vikhroli is 17.6 km

Price trends in Vikhroli

The price trends in Vikhroli from October 2016 to December 2016 for multi storey apartments are:

The highest locality price is Rs 23,627 per square feet, the average price is 18,632 per square feet

and the lowest rate is 13,636 per square feet.

Reasons to invest in Vikhroli

Vikhroli is such a locality where most renowned real estate developers are interested in constructing

residential project. The area lies in the heart of the city yet is covered with lush mangroves. The

scenic beauty is beautiful yet all the civic, commercial and business hubs are close by. Day by day the

price rate of this area is increasing. The average value of per square feet was 9,936 in the year 2013

and by the year 2016 the average rate has jumped up to Rs 18,632. This shows that within a span of

3 years only the price rate has almost doubled. This implies that there is high demand of the people

for living in this area and thus the real estate builders can take the confidence of constructing

buildings here without having much worries of sale.

Source: https://ecis2016.org/.
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Category: Lifestyle