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Investing in Real Estate? Versova can be a lucrative choice.

Investing in Real Estate? Versova can be a lucrative choice.

The real estate market in Mumbai has been witnessing exponential growth in the last couple of years. Developers have been rapidly building societies or complexes to leverage areas/suburbs that are social and commercial hubs, as well as those with great potential for the same.

One of these suburbs is Andheri West, which has emerged as one of the favourite residential areas of the city in the recent past. With great infrastructure, connectivity, social engagement (parks, shopping malls, theatres), robust key medical services, and its gradual emergence as an IT and commercial hub, Andheri West, is today, a top residential destination, not only for the denizens of the city, but also migrants from other cities.

With the increase in disposable income of the people of Mumbai, property prices have also risen across the city, including in Andheri West. However, the suburb has consistently received much appreciation for almost all of its areas being lucrative for investments, by real estate developers as well as buyers.

Among these areas is Versova – an ‘upmarket’ neighbourhood of Andheri West. Also commonly known amongst native speaking people as “Vesawe”, it has emerged as a favourite locality amongst residents of the city. The residential crowd has been on a rise too, with big players in the sector developing upscale properties in and around the area.

Following are a few reasons why Versova is considered to be a viable investment hub:

Outlook and Infrastructure
In the last ten years, Versova has become an extremely popular neighbourhood, owing to its physical and social infrastructure, which has made it a very comfortable area to reside in. Moreover, it offers accessibility to some of the most renowned educational institutions of the city, including Rajiv Gandhi Institute of Technology, Mithibai College, Jamnabai Narsee School, Jankidevi Public School, Kamla Mehta College, and several others. With respect to medical centres, the famed Kokilaben Dhirubhai Ambani Hospital and Nanavati Hospital, among others, are extremely convenient to commute to. It also boasts of a number of plush residential complexes and societies with the best of amenities and facilities available in the area, with most of them being sea-facing.

Additionally, it has emerged as an employment and commercial hub with an array of job opportunities available from neighbouring localities like Bandra Kurla Complex (BKC), as well as Veera Desai Industrial area, and Lakshmi Industrial Estate, among others. These have augmented Versova’s appeal amongst the employed populace.

The highly talked about upcoming coastal road, known as the “Bandra Versova Sealink “BVSL) which will be constructed by the government to connect the bustling suburbs of Bandra and Andheri, and as part of the government’s broader vision, link Marine Lines and Kandivali, thereby bringing the south and north closer, along Mumbai’s coast.

Connectivity
Versova is already a well-connected neighbourhood with regard to banks, hospitals, schools, hotels, and more, via a robust network of roadways and railways. It has several bus depots with the efficient BEST system, as well as the Western Express Highway and link road, making the domestic and international airports easily accessible. Furthermore, on the western railway route Andheri railway station is quite nearby, and so is Jogeshwari. However, the most convenient form of easy transportation by rail is the Versova Metro Station, wherein metro trains go all the way to Ghatkopar, via the airport road.

Centre of Social Network
Versova is known for its bustling social environment and amenities, primarily due to the fact that in many ways, it connects the urbane and populous neighbourhoods of Lokhandwala and Juhu. The best of malls and shopping arcades like Infiniti Mall, Jewel Shopping Centre, and DB Mall, are easily accessible, as are popular multiplexes like PVR and Cinepolis, and parks like Nana Nani Park and Jogger’s Park. It also has a myriad of cafés, bars, casual eateries, and fine dining restaurants that are frequently visited, especially by millennials and the working segment.

Having emerged as an upscale, convenient, and comfortable neighbourhood, Versova has become lucrative for investments, despite fluctuating property prices. As part of the holistic suburb of Andheri West, Versova has truly grown to be a preferred residential, commercial, and social destination of Mumbai.

It looks like Versova is all set to become VersoWOW.

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Rahul Grover

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