HINDUSTAN TIMES, , 02 htestates SATURDAY AUGUST 23, 2014

INFRASTRUCTURE PROPERTY RATES IN MUMBAI CHANGING CITYSCAPES NALASOPARA In the past five years, there has CENTRAL SUBURBS been a lot of development in Nalasopara in terms of Location Rate (per sq ft*) Location Rate (per sq ft*) Location Rate (per sq ft*) excellent infrastructure and 33000 to 48000 West 26000 to 47000 13000 to 22000 both rail and road transport, says Raphael D’Souza, CEO of 35000 to 71000 Bandra East 18000 to 27000 13500 to 18500 Pocket-friendly Ruvins Estates. Situated 58000 to 92000 Khar East 16000 to 21000 20000 to 32000 beyond and near , the locality is an 32000 to 50000 Khar West 23000 to 40000 King’s Circle 14000 to 22000 alternative option for residents who cannot afford to buy a Virar Marine Drive 45000 to 70000 Santacruz East 13000 to 23500 Sion 14500 to 22000 Virar Dam house in Mira Road where 60000 to 76000 Santacruz West 22000 to 32000 9000 to 14000 Bolinj ongoing values range between `5,000 and `6,000 per sq ft. housing Vijay Nagar 38000 to 70000 East 19000 to 23500 10500 to 18000 Rajodi Waliv Developed by CIDCO, the Nalasopara western region of Nalasopara NapeanSea Road 47000 to 75000 Vile Parle West 22000 to 26000 East 9500 to 18000 Gokhivare Kalamb has better infrastructure than Peddar Road 32000 to 56000 West 16000 to 19500 Ghatkopar West 8500 to 13000 STEP UP Owing to its proximity to Virar, Nalasopara Gass that of its eastern counterpart. Niraj Agrawal, proprietor of 38000 to 58000 Andheri East 13000 to 16500 8500 to 12000 Bhuigaon Niraj Estates, points out that is attracting immigrants and mid-level businessmen Manickpur Warden Road 35000 to 60000 East 11500 to 13000 9900 to 17000 overcrowding is a problem in Mumbai Metropolitan Region 45000 to 72000 Goregaon West 12500 to 15500 8500 to 10500 (MMR). Therefore, suburbs such as Bhayander, Nalasopara Bombay Central 20500 to 32000 West 12000 to 15000 9750 to 13000 and Naigaon are the next Mahalaxmi 22000 to 42000 Malad East 11000 to 13000 11500 to 14800 alternative locations for easing concentration. 27000 to 49000 West 11000 to 14000 6800 to 14800 Lower 21500 to 38000 Kandivali East 10000 to 13500 Dombivali 5000 to 6000 26000 to 44000 West 11600 to 13500 4500 to 5500 alasopara is an NEW PROJECTS upcoming resi- Source: Knight Frank (Please note that the quoted rates are the approximate asking rates and may dential destina- vary depending on the market conditions)* Nalasopara mainly houses tion located in residential projects by NThane district, developers focussed on low-cost lying next to the Virar local houses ranging from `3,000 to htestates train junction. Currently `4,000 per sq ft. Major CLASSIFIEDS restricted to low-income developers in the locality group residents, a big change include Shree Ganesh Builders, in the demographics and Swastik Group, Viva Group and infrastructure development Anchor Realty. Experts believe of this locality is expected that with improvement in PROPERTY in the next five years. Close infrastructure, other reputed proximity to Mumbai, afford- SANJAY SOLANKI/HT PHOTOS builders might join the bandwagon. Government is able housing options and The locality has seen a marked development in road and rail infrastructure over the last fi ve years. strong transport network are focusing on improvement of the main reasons behind the connectivity to and from this growth of Nalasopara. locality. Even in the neighbouring suburbs of The primary inhabitants and , a rise in the number in the locality are the Jain residential and commercial community and immigrants projects is expected. COMMERCIAL PREMISES from Northern states such as UP and Bihar. Small and FULLYFurnished Office on medium-scale businessmen Sale behind Sahara Hotel, with Airport Runway View Vile - and people in administrative Parle (E), Suitable for HNI jobs are the main residents RENTAL RATE 1830 sq ft. 2Car Parks 4.25 Cr. Shyam - 09076788888. of Nalasopara. Most of Nalasopara For renting, the locality is one falls under the Virar-Vasai of the most affordable FOR Municipal Corporation’s destinations in Thane. A 1-BHK purview. Star city fund from starts at `5,000 per month A few multiplexes and malls have sprung up here. Vasai and Virar offer nearby entertainment options. the central government is onwards and a 2-BHK starts at ADVERTISEMENT boosting the development nects it to `6,500 per month onwards. of this region. The western and Central Mumbai via the Rent for a 3-BHK can be around Call side of Nalasopara is more Central line railway. `8,000 per month. developed, planned and In terms of roadways, enjoys improved connectivity Nalasopara is directly Roopesh compared to the eastern side. connected to Mira Road Some of the popular residen- and Mumbai through ` CAPITAL RATE tial complexes in Nalasopara the Mumbai-Ahmedabad 9819660035 West include Patankar Park, National Highway or The ongoing capital values here Sri Prastha Complex Western Express Highway. range between `3,000 and and Virar Link From the area, the Mumbai- `4,000 per sq ft. The values are road. Meanwhile, Ahmedabad highway is a expected to reach `5,000 per sq Nalasopara East has 10-minute drive away. ft in two years from now. In the developing areas The arterial roads in current scenario, a 1-BHK such as Radha Nagar, Nalasopara are not very well apartment costs `27 lakh Central Park, Vasai- developed while the outer upwards and a 2-BHK costs Nallasopara Link connectivity is smooth due to Nalasopara is a popular choice for lower-income home-seekers. upwards of `37lakh. Road Area and Shri the Highway. Ram Nagar. The last decade has wit- Social amenities PROJECT TRACKER nessed tremendous Nalasopara boasts of sev- construction activ- eral schools, colleges and CURRENT RESIDENTIAL PROJECTS IN NALASOPARA ity in the locality by hospitals. There has been developers such as an increase in the number Name Developer Type (BHK)Avg. Size (Sq.ft.) Price (`)Date of possession Swastik group, Viva as well, primarily because Group and Rajhans being a well-known suburb, Shree Ganesh Shree Ganesh Builders 1/2 BHK 615-770 35 Lakh Ready-to-move Developers. it is home to many families Apartments who face a lack of affordable Future Valmiki Connectivity options in Mumbai. Future Build Realtors 1/2 BHK 470-965 NA March 2015 Owing to its proxim- Some of the reputed Heights ity to Virar on one schools here include Holy side and Vasai on Cross High School, Little Swastik DurvasSwastik Group 1/2 BHK 535-815 NA Ready-to-move the other, Nalasopara Flower’s English High is a hub of activity School and St Anthony’s Anchor Park Anchor Realty 1/2 BHK 564-864NAReady-to-move in the far suburbs. High School. There are The quadrupling of plenty of hospitals in both the railway tracks east and west part of this Nursing home, among others. easily travel to neighbouring propreitor of Niraj Estates. has increased the locality. Some of them are areas such as Vasai and Virar There are several eateries frequency of trains. Sushrut Hospital, Riddhi Entertainment that are home to Woodland in the locality but for better Vasai, which is Vinayak Multispeciality For entertainment, residents multiplex, KT Vision and restaurants, residents visit 15 to 18 kms from Hospital, Manorama Hospital do not have many options Yazoo Entertainment Park, either Ghodbunder Road or Nalasopara con- Ambewadi and Ashirwad within the locality, but they according to Niraj Agrawal, Navi Mumbai localities.

CAPITAL VALUE-TRENDS INR PER SQUARE FEET FOR NALASOPARA

5,000 4,500

4,000 3,500

3,000 2,500 2,000 1,500

2010 2011 2012 20132014 Upper Range Average Range Lower Range

CAPITAL VALUE -TRENDS INR PER SQUARE FEET FOR NALASOPARA 4500 4000 3500 3000 2500 2000 1500 1000 500 0 Jan-Mar Apr-Jun Jul-Sept Oct-Dec Jan-Mar Apr-Jun 2013 2013 2013 2013 2014 2014 brokerspeak

“Over the last five years, there has been a lot of development in Nalasopara in infrastructure and transport. In neighbouring areas, such as Mira Road and , ongoing capital values range between `5,000 and `6,000 per sq ft. In contrast, Nalasopara, with a lower capital and rental rate offers a viable alternative for lower-income residents.” RAPHAEL D’SOUZA, CEO of Ruvins Estates, a real estate management company based in Borivali (West)