Virar, a Mumbai suburb located on the city’s outskirts, has rapidly transformed into a bustling commercial hub in the past few years. Though it is located in Maharashtra’s Palghar District, Virar is a suburb of Mumbai that is a part of the Mumbai Metropolitan Region (MMR). The Vasai-Virar area used to be a hotbed of second-house purchases. However, there has been a spike in both commercial and residential real estate development in recent years.
Virar offers convenient access to Thane via NH-48 and Mumbai via the Western Express Highway. Large-scale infrastructure projects like the much-discussed Mira Road-Virar Metro and the now-under-construction Virar-Alibaug Multimodal Corridor will increase housing and real estate investments in this region.
The influx of businesses has led to a significant rise in demand for office spaces, offering a variety of options from modern coworking spaces to larger corporate setups.
What Makes Virar a Thriving Commercial Hub?
Virar, a once-quiet neighborhood, is now a bustling business district. The neighborhood provides everything businesses need, including updated infrastructure, better roads and buildings, and an environment that fosters company growth. Virar is a major site for businesses and investors because it currently provides a wide range of commercial prospects and objectives. Let’s look at the elements that have helped Virar develop into a vibrant commercial center.
Excellent Location and Connectivity
The Western Express Highway and the Mumbai Suburban Railway conveniently link Virar to Mumbai. This makes daily commutes easy for residents and professionals. Moreover, a new project called the Virar-Alibaug Multimodal Corridor will make it even easier to get around, making trips faster and bringing more businesses to the area.
The Virar Railway Station, a major terminus on the Western Line, plays a crucial role in facilitating smooth and efficient travel for thousands of passengers daily. Virar’s proximity to the Mumbai Metropolitan Region (MMR) makes it an attractive option for companies looking to tap into a growing market. It offers a cost-effective alternative to being located in the expensive core of Mumbai.
Infrastructure and Developments
The infrastructure in Virar has experienced significant growth in recent years. This is highlighted by the emergence of residential complexes, shopping centers, and educational institutions. This progress has been bolstered by both private and government efforts, to transform Virar into a self-sustaining neighborhood.
The presence of large expanses of land has made it possible to build modern office spaces that meet the demands of various industries. Furthermore, the Virar-Vasai area is seeing the development of IT parks and business centers. Therefore, Virar has become a viable alternative to traditional commercial hubs in Mumbai.
High Rental Yields
Virar’s commercial real estate market is still in its early stages, providing higher rental yields compared to more established areas in Mumbai. Also, the affordability of office spaces, along with rising demand, makes Virar an appealing choice for investors looking for strong returns. As more businesses move to Virar, the rental market is anticipated to grow steadily, thereby, enhancing the area’s attractiveness as a commercial destination.
Virar is on the verge of becoming a major commercial hub, fueled by its strategic location, solid infrastructure, and appealing rental yields. For businesses and investors aiming to enter a developing market with long-term potential, Virar presents a promising opportunity.
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