Know Why Boisar’s Property Market is Welcoming Affordable Housing Segment

The lush green area with sprawling open land and industrial growth make Boisar one of the hubspot for affordable housing segment in Maharashtra’s real estate sector. The smart and convenient connectivity with Virar and other areas of Mumbai city via Western railway line make both working as well as living affordable in this region.

Property Boisar

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How Economic & Industrial Development Boost Affordable Housing Segment here:

Earlier, the people working in the industries of the Boisar area had to travel for more than one and a half hour to reach home and the workplace. This was difficult and the small number of companies here was another reason that not many professionals showcased an interest in Boisar. The commutation problem and limited work area were the primary reasons why people find it confusing to invest in the Boisar area. But, the growing business opportunities bought a change by manifolds. The area received various industrial plants in a past decade’s time and this happened because of the close proximity of the Boisar area with the Mumbai city. The increase in industrial projects here increased employment and thus this city is being the hubspot for affordable residential properties now.

This city has a healthy economic background and this is added to the increasing job opportunities up to 1 lakh over the past ten years. The better employment scope directly impacts the rising demand for affordable homes but the scenario before the launch of affordable housing scheme was way different from what it is now as there was a huge gap between the housing demand and supply. This led to the travel issues but now with the proposed infrastructural development and the launch of affordable housing is offering a magnificent boost to the Boisar’s property market particularly to the affordable housing segment.

Strategic Location of Boisar Plays a Pivotal Role:

Located in the North of Mumbai’s Virar city, Boisar is home to some reputed industrial units like the Bhabha Atomic Research Center [BARC] in Tarapur and Maharashtra Industrial Development Corporation [MIDC] which comprises of more than 1,500 industrial units, including reputed brands like TATA Steel, JSW Steel and Raymond. The area not only shares proximity with Mumbai but the area is also near to Gujarat’s business cities like Ahmedabad and Surat. The Boisar city falls under the Palghar district and is an incredible business joint as this city has Maharashtra’s largest fishing ports like Satpati, Dahanu, Arnala, Vasai and Datiware.

Improved Transportation Plays a Pivotal Role:

The improved transportation has played a crucial role as the connectivity of Boisar area improved commutation with Mumbai at large. The frequent running of local trains between the Churchgate station in Mumbai and Dahanu in Boisar made travelling easy. The proposed transportation plan by the Mumbai Railway Vikas Corporation includes seven projects and eight new stations between Virar and Dahanu in the Mumbai Urban Transport Project [MUTP] Phase-3and also includes the quadrupling of lines between the same.

The proposed bullet train between Ahmedabad and BKC [Bandra Kurla Complex] will have a station at Boisar and the Delhi-Mumbai Industrial Corridor [DMIC] is also planned to pass via the Boisar city.

Infrastructural Development Boost Affordable Housing Here:

Boisar will get an escalation in infrastructural growth as the city will have a Nagar Palika soon as is currently governed by a Gram Panchayat. The availability of basic amenities like road, water and sewage are of a good quality and the measures are taken to improve then by manifolds. MIDC [Maharashtra Industrial Development Corporation] is responsible for providing the basic amenities and the availability of supermarkets like D-Mart and Big Bazaar are opened here to meet the daily shopping needs of the residents. Also, the opening of healthcare, educational institutions, two and four-wheeler showrooms of multiple brands have set the layout for residential hubspot. All these developments are said to boost the affordable housing as the people in Boisar are demanding for residential units due to the rapid development that is taking place here.

Property Rates in Boisar

This city offers residential apartment in unit sizes of 1RK, 1BHK and 2BHK and the starting price for 1BHK apartment starts at Rs.16.41 lakhs. The average price per Sq.ft here is 7,854.41 and the continuous development also plays an important role in the property prices.