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Boisar, an industrial town near Mumbai, was not considered an upmarket real estate destination till now. But a slew of infrastructure and real estate projects planned in Boisar will change the profile of the town.
There is a significant level of economic activity in Boisar, which has created more than 100,000 jobs over the past decade, creating strong demand for housing. There had not been adequate supply of residential units, leading to a huge demand-supply mismatch. Workers in the industrial units had to commute for more than an hour each day to reach their workplaces.
Boisar is currently governed by a gram panchayat, to soon be converted into a nagar palika (a municipality). At present, the basic infrastructure of road, water supply, etc., is provided by Maharashtra Industrial Development Corporation.
The level of infrastructure is acceptable, considering the size and scale of the town. A Big Bazaar, a standalone multiplex, and shopping arcades add to the location's value and potential as an upcoming residential hub. Health care and educational facilities also exist.
Boisar offers a much cleaner and greener environment than most of the other congested townships in and around Mumbai. Also, it will feature residential properties at prices which would otherwise be unavailable in most other parts of the Mumbai Metropolitan Region. It makes great sense to buy a house in Boisar if one is working in the Palghar-Boisar-Dahanu region. With the increased connectivity, it will also be easier to stay at Boisar and work at Malad or Andheri.
In the near future, Vasai Road will emerge as a hub for economic activities and will be easily accessible from Boisar. These factors will work symbiotically to enhance the value of property in Boisar many times in the next few years.
The author is head- strategic consulting (West) JLL India
