Affordability Encourages Real Rstate Investment In Boisar, Maharashtra
Investment In Boisar : Boisar in Palghar, located about 85 kilometres from Mira Road in Mumbai, is an upcoming micro-market of the Mumbai Metropolitan Region (MMR). Boisar attracts residential demand from tenants and homebuyers alike, thanks to the industries here. Buyers can invest in Boisar for significant returns with several affordable options. Let’s take a look at the local housing options and price trends.
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Inventory is currently available in Boisar, Maharashtra.
Boisar is primarily a mid-segment neighbourhood, with residential apartments accounting for nearly 80% of the inventory. While 1 BHK units account for roughly 60% of the total, the remaining flats are mostly 2 BHK units. Property prices in the area have risen by nearly 5% in the last three years, with prices now hovering around Rs 3,200 per sq ft.
Apart from Om Developers Palghar, Shree Ostwal Builders, and BR Housing, the area has also piqued the interest of well-known names such as Tata Housing Development Company, Mahindra Lifespaces, and Cosmos Group, to name a few.
Boisar has emerged as a major rental destination, with connectivity throughout the suburb bode well for the tenant community. More than 75% of the apartments have monthly rents of less than Rs 10,000. With the highest demand concentrated in 1 BHK flats, the neighbourhood generates a respectable 4% annual rental yield for investors.
Investment In Boisar: Consistent connectivity
Needless to state, Boisar’s industrial status benefits the locals because they have access to arterial roads such as the Boisar-Palghar Road, Boisar Road, and Navapur Road, to name a few. The area is also served by a dedicated railway station on the Mumbai Suburban Rail Network’s Western Line, as well as Brihanmumbai Electricity Supply and Transport Undertaking (BEST) buses.
Unfortunately, the Mumbai International Airport is over 100 kilometres away. Which can be inconvenient for those who travel frequently by plane; however, the proposal to build a third airport in the region at Palghar may provide convenience to residents and help boost home values even further.
As an industrial zone with a constant need for seamless connectivity, efforts to improve connectivity have been underway. Boisar will have a station on the Mumbai-Ahmedabad high-speed rail corridor. As well as increased inter-state road connectivity due to the passage of the Delhi-Mumbai Expressway through the district.
Investment In Boisar : Developed social infrastructure
Boisar has all of the necessities for a comfortable lifestyle. With over 1500 industrial units producing steel, plastic, and Polyvinyl Chloride (PVC) products, among other things, the area facilitates employment. It also houses the Tarapur Atomic Power Station, the country’s first nuclear power station (TAPS).
Within a three-kilometer radius of the micro-market, there are medical facilities, educational institutions, and shopping areas. The area has several parks and tourist attractions, including Asava Fort, Nandgaon Beach, and Kaldurg Fort, to name a few.
While Boisar is a self-sufficient ecosystem within Palghar. Residents frequently complain about poor air quality, poor road conditions, and inadequate water supply. However, the Mumbai Metropolitan Region Development Authority’s plan to develop Boisar as an economic growth centre may significantly improve the locality’s civic infrastructure, inducing demand in the area’s real estate market.
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