Accommodation Times News Services
By Mehul Thakur – Director, Viva Homes
The fifth most populous city in the world and the business hub of India, Mumbai- the city of dreams is getting congested and costlier by the day. The unique topography of the city has ensured limited supply of land resulting in incessant price rise and higher concentration of premium projects. This has limited the purchasing ability of home buyers leading to the development of nearby areas like Vasai-Virar, Navi Mumbai, Thane, Bhiwandi and Kalyan.
Vasai – Virar’s close proximity and connectivity to Mumbai as compared to other nearby areas gives it access to the Metro’s existing resource and infrastructure base and provides the best solution to first time home owners/ buyers and the middle income group.
Vasai- Virar with a growing population of more than 1.2 million is one of the fastest growing cities in Maharashtra. As per census, the population in the region was 1.9 lakhs in 1971 and has seen an average growth of 95% since. Over the last 5-10 years, the increase in real estate prices in and around Mumbai has resulted in this shift of low and middle-income households to this sub-region. The population growth rate of Vasai- Virar region has been higher than Greater Mumbai and MMRDA region.
Vasai- Virar is strategically linked to Mumbai and other major centers in the Mumbai Metropolitan Region, such as, Navi Mumbai, Panvel, Thane, Bhiwandi and Kalyan, via high end rail and road connectivity. The Mumbai- Ahmedabad National Highway (NH- 8) passes through the eastern part of the region and the city is well connected by the western and central railway. Also, with the proposed elevated rail corridor between Churchgate-Virar and the Bandra-Virar coastal corridor, the road journey will be curtailed to an hour. No other city in the Mumbai Metropolitan Region or in the peripheral locations provides such connectivity. People can easily travel to Mumbai by local train – within 90 minutes to reach Churchgate Station (downtown Mumbai) or 30 minutes to reach the suburbs.
With good connectivity, the Vasai- Virar region now has facilities such as affordable housing, better infrastructure and better governance. The region has lot of infrastructure projects underway. The region is pollution free and away from the hustle bustle of Mumbai city life. Today, people want to live in areas where they can breathe fresh air and have a sound sleep. Vasai-Virar is one of such region and therefore a good place for living and leisure.
Since its inception in 2012, the Vasai- Virar Municipal Corporation (VVMC) has been instrumental in the rapid development of the Vasai- Virar Region. An annual budget of Rs. 1,266 crore towards infrastructural development has been presented in 2012. Even the ministry of Urban Development has taken Vasai- Virar under the Urban Infrastructure Development Scheme for Satellite Towns making it the only city from Maharashtra to be taken under this scheme. The entry of some of the country’s leading real estate players as JVs with the local players in the region, is also contributing tremendously to the growth of the region.
In the year 2000, Viva College was established with affiliation to the University of Mumbai. The sprawling campus has a junior college, degree college, post graduation and professional college offering all courses under Arts, Commerce, Science, Management, Engineering, Technology, Hotel & Tourism Management, Architecture, and Pharmacy. Started with 35 students, today Viva College is the largest college in Maharashtra empowering 28,000 plus students every year. The college also offers an exchange program to leading Universities like George Washington University, Washington D.C. USA. In July 2014, six students from GWU had come down to Virar to engage with the students of Viva College.
At a time when Mumbai based real estate developers are focusing on building luxury apartments, Vasai- Virar region promises value for money homes with all modern amenities along with connectivity to the main city, becoming the perfect destination for first time home owners and middle income groups.