Vile Parle West: A Hub of Real Estate Activity in Mumbai
In June, Pratap Elegance led the real estate market in Vile Parle West, followed by Himanshu Mandar CHS, Shanti Kunj Apartment, and Nutan Jeevan CHS.
Real EstateVile Parle WestMumbaiProperty MarketResidential AreaReal Estate NewsJul 28, 2024
With its excellent connectivity, proximity to the Mumbai airport, and well-served road and rail networks, Vile Parle West has emerged as a popular choice for families. The area boasts several educational institutions, making it an attractive destination for those looking to settle down. While maintaining its traditional charm, the locality has witnessed modern development with the rise of high-rise apartments and shopping complexes.
In June, the real estate market in Vile Parle West saw significant activity, with Pratap Elegance emerging as the leader by closing three deals. Himanshu Mandar CHS, Shanti Kunj Apartment, and Nutan Jeevan CHS followed closely, with two deals each. Resale transactions dominated the market, accounting for 57% of the deals, while developer sale transactions made up 21% of the deals.
The apartments sold in Vile Parle West varied greatly in size, ranging from 255 square feet in Labh Shrivalli to 1,582 square feet in Parinee Elenora. This versatility ensures that the locality caters to a wide range of buyer preferences. Prices per square foot in Vile Parle West ranged from INR 8,046 to as high as INR 41,667, with an average of around INR 28,841.
Most apartments sold were in the coveted 500 - 1,000 square feet range, contributing 71% of the total sales. Fourteen percent of the apartments sold were within 500 square feet, while there were two single apartment sales in the 1,000 - 1,500 and 1,500 - 2,000 square feet ranges.
Vile Parle West continues to thrive as a desirable residential area in Mumbai, blending traditional charm with modern amenities. The active real estate market in June reflects the locality's wide appeal and diverse housing options, making it an attractive destination for both homebuyers and investors.
Frequently Asked Questions
What is the average price per square foot in Vile Parle West?
The average price per square foot in Vile Parle West is around INR 28,841.
What is the size range of apartments sold in Vile Parle West?
The size range of apartments sold in Vile Parle West varies from 255 square feet to 1,582 square feet.
What is the most popular apartment size range in Vile Parle West?
The most popular apartment size range in Vile Parle West is 500 - 1,000 square feet, contributing 71% of the total sales.
What is the percentage of resale transactions in Vile Parle West?
Resale transactions account for 57% of the deals in Vile Parle West.
What is the highest price range of apartments sold in Vile Parle West?
The highest price range of apartments sold in Vile Parle West is between INR 4 - 6 crores, accounting for 7% of the total sales.
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