The Current Virar Vasai Market
The Vasai Virar subregion is a part of the Palghar district having an area of 380 sq km amounting to 9.5%1 of the total MMR (Mumbai Metropolitan Region) area. The region initially observed a slow urbanization rate as the first regional plan for MMR (1970 - 1991) included most of its area under the green zone, restricting development in this region. However, development was later permitted within the dormitory townships prepared by the town planning department. As per the sanction DP 2007, ~22%1 of the total Vasai Virar sub region is proposed for urbanization ie, 8,324 Ha. About 60%1 of workers commute to Mumbai daily making it a prospective market for commercial development based on the captive demand. As per Sanjay Puria, Group CFO, WNS, “Mumbai, Thane and New Mumbai have played home to many industries including IT/ ITES. While it has been constantly evolving, the next emerging and lucrative destinations that have been far suburbs, but have the potential of mainstream, can be Vasai Virar. From a cost and ready talent pool stand point, these locations seem to have great potential. Talent in these areas can build great careers as companies that are early movers to these locations would be taking careers to their doorstep, instead of talent having to travel far and wide in search of something lucrative.” To enhance the intercity connectivity the government has undertaken several initiatives that are expected to boost the commercial and residential development in this region. The office landscape of Vasai Virar region is expected to transform in the next 20 years with strong infrastructure projects and access to talent pool driving development in this region. The upcoming infrastructure projects are expected to enhance not just the regional connectivity but also the connectivity within Vasai Virar regional.
Tags : Virar Vasai Market office landscape infrastructure projects