Lifestyle

Vasai East property market: An overview

[ecis2016.org] Vasai East (a part of Vasai ) is an area in Palghar district of the city Mumbai. Vasai is more popularly known as Vasai-Virar town. It is not only one of the renowned coveted residential areas in Mumbai today but also an important commercial area for its excellent connectivity with the other areas.

Today’s Vasai which is located around 40 kilometres away from the heart of Mumbai has a long

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history which goes back to the Puranic ages. The area Vasai has been renamed several times and the

name Vasai initially came from the Sanskrit word ‘Waas’ meaning residence. After the name ‘Waas’

came the name ‘Basai’ given by the Muslim conquerors, then the name ‘Bacaim’ given by the

Portuguese, then the name ‘Bajipur’ by the Marathas and the Britishers named it as ‘Bassein’. The

most important conquest in Vasai’s history has been the Portuguese one which has influenced to a

great extent to form today’s Vasai.

Vasai East is today a part of Vasai Virar. This locality is surrounded by different other localities. The

nearby localities are Navyug Nagar, Anand Nagar, Panchal Nagar and D.G. Nagar. The Vasai East real

estate is developing at a fast rate. Several reputed builders are constructing residential and

commercial complexes. There are several landmarks in Vasai like Fort Bassein, Suruchi beach, Our

Lady of Grace Cathedral, Infant Jesus Church etc. A few years back this place was more of like a

picnic destination with no residential and commercial complexes. Today there are around 1.2 million

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residents in this Vasai area and the number of population is much more compared to the Greater

Mumbai. There are 1BHK to 4BHK flats in Vasai East. Apart from flats there are independent houses

in Vasai East too. Several reputed builders in Vasai East like Rajlaxmi Developers, J.B. Parikh and

Company, Jain and Jain Estate Agent and many more have constructed several residential complexes

independant houses etc.

Connectivity with nearby Vasai East localities

 The distance from Mumbai Central Local Station to Vasai East is 47.3km.

 The distance from Chatrapati Shivaji International Airport to Vasai East is 50.6 km

Schools in Vasai East and other social amenities

The social infrastructure of the area is well developed. There are schools in Vasai East like Tree

House, Vidya Mandir High School etc. There are hospitals in Vasai East like Platinum Hospital, Shri

Krishna General and Medical Stores etc. There are banks in Vasai East like State Bank of Hyderabad

and ATMs like Vijaya Bank etc. There are shopping malls in Vasai East like Anita Shopping centre,

Vinayak shopping centre. There are restaurants in Vasai East like Golden Chariot, Balle Balle Desi

Restaurant etc. There are a number of amusement parks in Vasai East like Sardar Vallabhai Patel

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Garden, Galaxy Garden.

Price trends in Vasai East

The price trends in Vasai East from October 2016 to December 2016 has been like – The highest rate

for multi-storey building is Rs 5570 per square feet, the average rate is Rs 4736 per square feet and

lowest rate is Rs 3903 per square feet. The highest rate for builder floor apartment is Rs 5813 per

square feet, the average rate is Rs 4775 per square feet and lowest rate is Rs 3738 per square feet.

The highest rate for residential house is Rs 5992 per square yard, the average rate is Rs 5198 per

square yard and lowest rate is Rs 4404 per square yard.

Reasons to invest in Vasai East

There has been rapid development in Vasai East. The connectivity with other areas, transport

facilities and for its expanding social infrastructure the locality is growing at a fast rate. The price

trends are increasing but the demand is also high because of the high rate of population. The real

estate developers are also investing for projects in this locality. Thus Vasai East is one of the places

which have been recently well developed and a home for a large number of people.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

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

Debora Berti

Università degli Studi di Firenze, IT

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