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Swiftly growing

Saturday 21 February 2009 - The Times of India

Owing to its affordability, the Vasai-Virar belt is witnessing continuous developments on various fronts, says Suchita Patil.

Located in Thane District, Vasai-Virar is an agglomeration of several formerly separate towns, including Vasai, Virar, and the ancient city of Sopara having four stations Naigaon, Vasai Road, Nalla Sopara, and Virar on the western railway line.

An agricultural area until the mid 70's it was mainly populated by low cost housing groups. Only seven per cent of the area had proper roads. The infrastructure was insufficient to cater to the growing population. However, with the entry of many renowned developers the area has witnessed substantial growth. There has been a major growth of hospitals, schools, colleges, banks, ATMs, commercial and retail complexes in this area resulting in rapid development of the area.

According to Ashutosh Limaye, National Director - Land & Consulting Services, Jones Lang LaSalle Meghraj, "The Vasai-Virar belt has significantly changed due to the large influx of people, attracted by the availability of more affordable housing as compared to other places in Mumbai. The belt has witnessed considerable appreciation in real estate rates because of improvement in infrastructure, recreation facilities, and good residential and commercial projects. This is changing the region’s market status from being a 'distant suburb' to a 'growth area'. However, Vasai still needs upgrades on the adequacy and quality of its existing infrastructure."

The current USP of the area is availability of land, affordable homes and easy accessibility. There is a definite growth driver in the fact that the government is providing a lot of impetus by focusing on special township schemes in extended suburbs like Navi Mumbai, Vasai, Virar and Thane. Also with offices shifting from Churchgate-Nariman Point to Bandra-Kurla Complex and now to Goregaon, it becomes a convenient and affordable option for people to settle here.

Reputed developers are making available, budget homes in well-planned residential complexes with added premium amenities and recreational features. Mayfair Virar Gardens a township project by Mayfair Housing is located in Virar. "The Vasai-Virar region has changed tremendously since the past few years. In years to come Virar will develop like Thane and Navi Mumbai due to rapid growth in infrastructure, connectivity, and industrialisation. In addition, with schools, colleges, hospitals developing here a good social infrastructure has emerged," says Nayan Shah, CEO, Mayfair Housing.

Bharti Mistri, a resident of Vasai, says, "I have noticed several changes in the past six years when we shifted here. The place has undergone a lot of development. Facilities like schools, hospitals, banks are accessible within minutes. Property rates have doubled. Transport has also improved; there are share autos, regular bus services, but the train frequency needs to improve.”

Ashok Kumar, MD, Cresa Partners, says, "The Vasai-Virar belt is an extension of the western suburbs, becoming an important segment for the lower income group. Builders are coming up with affordable housing projects with rates around Rs 2000 per sq.ft to attract buyers. Rustomjee, Mayfair, Evershine have major projects here. Affordable homes, improving infrastructure, increased frequency of trains and buses has attracted people to settle in these locations"

Suburban local trains connect Vasai with Churchgate. The frequency of suburban local trains is every 10-15 minutes during the day. In addition, with the quadrupling of railway tracks nearing completion, travelling time will be reduced.

Local estate agent, Vinod Jain of Milan estate agency, says, "With the new trains from Dahanu-Panvel, Vasai Bhiwandi already in operation, the area has become more accessible." After Bandra-Kurla Complex, the government is planning to develop the Kanjurmarg and Vasai-Virar regions as the next business districts. This will be the secondlargest SEZ around Mumbai after Mukesh Ambani's 25,000-acre development, which spreads from Navi Mumbai to Alibaug. Mumbai-based Housing Development and Infrastructure Ltd (HDIL) is also planning to set up a 5,547-acre special economic zone (SEZ) in this area. HDIL plans to set up a 2,500-acre multi-product SEZ in the first phase. Agrees Mr. Kaizad Hateria, G.M - Sales, Keystone Group (Rustomjee ), "Our Rustomjee Estates is one of the biggest township projects in Vasai-Virar, spread over 217 acres which includes residential complexes with schools, parks, shops, entertainment spaces along with commercial and retail offices and IT centres."

In addition, some of the proposed developments here include construction of a skywalk from Virar station (West) to Shivaji statue petrol pump on Agashi road, infrastructure for sewage, public toilets, fire stations along with revival of an abandoned railway bridge between Naigaon and Bhayandar, which will give a major impetus to the area.

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