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Palghar developing as an affordable residential location

1 Comment Sub Category:Cities,Mumbai,Realty News,Residential Real Estate Posted On: Dec 10, 2012

Affordable housingLocations like Vasai, Dombivali, Virar are witnessing a slow increase in demand as the demand for affordable housing is shifting to nearby areas like Palghar, Thane.

In Palghar, the price of the residential properties ranges from Rs 2,000 to Rs 3,500 per sq ft whereas in Varar, Dombivali and Vasai the price ranges from Rs 4,000 to Rs 5,500.

There is a huge demand for affordable housing in Palghar. The maximum demand is for 1bhk and 2bhk flats as most of the people are working in industrial areas and their budget is limited. However, Palghar has seen almost 60-70 percent demand from investors who are mostly from Mumbai.

With the existing demand, most of the builders are coming up with projects which offers 1bhk and 2bhk apartments. Some of the projects are VIVA Swarangan by the VIVA Group, Castle by HAWARE, Paradise City by HDIL and Prithvi Complex by Oswal Realty.

Palghar locality is well connected and is easily accessible from the Mumbai-Ahmedabad National Highway (NH8). The local railway line from Virar is expected to extend to Dahanu by March 2013 which will raise the demand for real estate. The locality also enjoys good bus services and basic amenities.

By next one year the locality is expected to appreciate by 20-25 percent. Palghar is the next budget destination in Thane that offers a good option for both investments as well as end uses.

Commonfloor’s take: Haware Nakshatra and Siddharth Avenue are the ongoing projects in Palghar with apartments prices from as low as Rs 12 lakh compared to other areas.

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One Response to “Palghar developing as an affordable residential location”

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