Vile Parle West: A Vibrant Mumbai Suburb with a Thriving Real Estate Market
Explore the latest real estate trends in Vile Parle West, a sought-after Mumbai suburb with a blend of traditional charm and modern amenities.
Real EstateMumbaiVile Parle WestMaharashtraIndian Property MarketReal Estate MaharashtraJul 28, 2024
The locality is home to several educational institutions, making it a popular choice for families. While maintaining its traditional charm, the locality has seen modern development with the rise of high-rise apartments and shopping complexes. Its mix of old-world character and urban amenities makes Vile Parle West a sought-after residential area in Mumbai.
In June, Pratap Elegance emerged as the leader by closing three deals, the highest this month in Vile Parle West. This was followed by Himanshu Mandar CHS, Shanti Kunj Apartment, and Nutan Jeevan CHS, which registered two deals each, whereas the other five buildings closed a single deal each. Resale transactions led the way by closing 57% of the deals compared to developer sale transactions, which managed to close 21% of the deals. On the high end, an apartment in Parinee Elenora was sold for INR 5.08 crores. Conversely, a value-friendly option in Himanshu Mandar CHS was available for close to INR 42 lakhs, providing an excellent opportunity for price-conscious buyers.
The apartment sizes varied greatly, with the largest unit spanning 1,582 square feet in Parinee Elenora and the smallest being 255 square feet in Labh Shrivalli. This versatility ensures that Vile Parle West caters to a wide range of buyer preferences, from families seeking spacious homes to individuals preferring compact living spaces. 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. There were two single apartment sales in the 1,000 - 1,500 and 1,500 - 2,000 square feet ranges. In Vile Parle West, 57% of the apartments sold were within INR 2 crore, while 36% of the flats sold were between INR 2 - 4 crores. Seven percent of the apartments sold were between INR 4 - 6 crores.
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, led by Pratap Elegance, 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 Vile Parle West known for?
Vile Parle West is known for its strong Gujarati community influence, excellent connectivity, and mix of old-world character and urban amenities.
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 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.
Which building led the real estate market in Vile Parle West in June?
Pratap Elegance led the real estate market in Vile Parle West in June, closing three deals.
What is the range of prices for apartments sold in Vile Parle West?
The prices of apartments sold in Vile Parle West range from INR 42 lakhs to INR 5.08 crores.
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