Mumbai's Eastern Suburbs: Vikhroli West Emerges as a Real Estate Hotspot
Vikhroli West is transforming into a vibrant residential and commercial hub, offering diverse housing options and robust real estate activity.
Vikhroli WestReal EstateMumbaiEastern SuburbsPropertyReal EstateJun 26, 2024
In May, real estate activity in Vikhroli West was particularly vibrant, led by Lodha Vikhroli ASPI Project 1, which closed the highest number of deals in the month with seven transactions. Following closely was Lodha Vikhroli Tower C1 with four deals, while Raj Legacy I registered two transactions. Metro Crown and Lodha Vikhroli ASPI Project 2 each closed one deal. Developer sales dominated over resale transactions, accounting for five out of the total six deals. Notably, a premium apartment in Lodha Vikhroli ASPI Project 1 fetched INR 9.74 crores, while Metro Crown offered budget-friendly options starting from approximately INR 79.9 lakhs, catering to diverse buyer preferences.
Property sizes varied significantly, ranging from 372 square feet in Metro Crown to 3,544 square feet in Lodha Vikhroli ASPI Project 1, ensuring Vikhroli West caters to a broad spectrum of buyers. Prices per square foot ranged from INR 21,480 to INR 30,795, averaging around INR 26,750. The most popular segment was apartments sized between 500 to 1,000 square feet, comprising 47% of total sales, followed by units between 1,000 to 1,500 square feet. Transactions also included units under 500 square feet, and larger properties ranging from 2,000 to 4,000 square feet. Nearly half of the transactions were within the INR 2 crore range, with a significant portion falling between INR 2 to 4 crores. Notably, transactions exceeding INR 6 crores were recorded, with one apartment fetching close to INR 9.75 crores.
In summary, Vikhroli West continues to solidify its position as a premier residential and commercial hub in Mumbai, buoyed by robust real estate activity and a diverse range of housing options. The strong sales performance in May, particularly highlighted by developments like Lodha Vikhroli ASPI Project 1, underscores its growing allure. With its excellent connectivity, abundant amenities, and a blend of urban convenience and natural surroundings, Vikhroli West presents an increasingly attractive proposition for both discerning families and professionals alike.
Frequently Asked Questions
What is the price range of apartments in Vikhroli West?
The prices per square foot ranged from INR 21,480 to INR 30,795, averaging around INR 26,750.
What is the most popular apartment size in Vikhroli West?
The most popular segment was apartments sized between 500 to 1,000 square feet, comprising 47% of total sales.
Which development led the sales in May in Vikhroli West?
Lodha Vikhroli ASPI Project 1 led the sales in May with seven transactions.
What is the average transaction value in Vikhroli West?
Nearly half of the transactions were within the INR 2 crore range, with a significant portion falling between INR 2 to 4 crores.
What makes Vikhroli West an attractive destination for homebuyers?
Vikhroli West presents an increasingly attractive proposition for both discerning families and professionals alike, with its excellent connectivity, abundant amenities, and a blend of urban convenience and natural surroundings.
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