Boisar Realty To Get A Shot In The Arm By Bullet Train
Come year 2023-2024 and India will see bullet train running. The first such project, the Mumbai-Ahmedabad High Speed Metro Rail Project, was launched on September 14. The 508-km long network will cover 12 stations, Mumbai, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. Peripheral areas in India's financial capital, including Boisar, will greatly benefit from the arrival of the bullet train. For instance, travelling from Boisar to Mumbai costs you two hours at present. With the bullet train, it would be cut down to half an hour. Considering property in Boisar is quite affordable at present, it may be the right time for investors to consider this option.
Why Boisar?
There aren't many options in Mumbai if you want to invest a small amount of money. With per square foot values rolling into five figures, the peripheries are the only solution for anyone who is keen on having a Mumbai address. Boisar today is an affordable buy.
Here are the statistics.
According to data available with PropTiger.com, there are plotted developments for sale starting at Rs 2 lakh. Depending on the space, configuration, brand of the developer and proximity to strategic locations, prices may climb up to Rs 1. 30 crore. As of now, Boisar scores 5.8 on 10 on the livability score.
Vidyut Nainkar, broker at Hind Properties in the area, says, “The project offers hope to many. Small time investors from surrounding areas have starting hunting for plotted developments here. Rental values are slowly seeing a growth. In the long term, the yield would be better and so will the return on investment.”
Boisar is well-connected to different parts of Mumbai via road and rail. By road, Boisar can be reached easily via the national Highway-8. It is 22 km from Chilhar Phata. Buses run by BEST provide smooth connectivity to this region. In addition to this, private buses are also available from Boisar to Palghar, Thane and Bhiwandi. Using the services of shuttle trains from Virar, Churchgate-Dahanu, you could reach Boisar.
Can you afford?
There are over 60 projects on sale, both under-construction and ready to move in. The price trend is interesting. Property that cost Rs 3,300 per sqft in April 2013 touched Rs 2,900 per sqft by June 2017. Do note that these are average values only, and may vary with respect to differences in the make and build of the construction apart from various qualitative aspects.
On an average, plotted developments will cost you Rs 4 lakh while 1BHK units cost Rs 15.74 lakh. Two BHK units, more popular among investors on an average, will cost you Rs 24 lakh and 3 and 4BHK units will cost Rs 40 lakh and above. If you give your property on rent, you could earn Rs 2,000-5,000 per month as of now, data available with Makaan.com show.
Prices may have been falling in the past, but with the arrival of the bullet train, real estate in Boisar may become costlier in future.
Who should buy in Boisar?
Ideally, Boisar should be every young investor's small investment destination. But, even if you are working anywhere along Palghar-Boisar-Dahanu, it makes sense to invest your money here. However, if the bullet train is making its way here, there is no reason why those working in Andheri or Malad shouldn't consider Boisar. As rates are affordable now, putting your money in plots could be a wise investment option.