Vile Parle West, a well-established suburb in western Mumbai, is known for its balanced blend of residential and commercial areas. Divided into East and West by a railway line, it features strong Gujarati community influences, excellent connectivity, and numerous educational institutions. In June, Pratap Elegance led the real estate market with three deals, followed by Himanshu Mandar CHS, Shanti Kunj Apartment, and Nutan Jeevan CHS. Resale transactions dominated the market, contributing 57% of the deals. With a variety of apartment sizes and prices, Vile Parle West caters to diverse buyer preferences, maintaining its status as a sought-after location for homebuyers and investors.
Vile Parle West is a vibrant and well-established suburb located in western Mumbai, known for its balanced blend of residential and commercial areas. This locality is divided into Vile Parle West East and West, with the railway line serving as the dividing line. Vile Parle West is renowned for its strong Gujarati community influence, reflected in its numerous vegetarian restaurants and traditional sweet shops. The area boasts excellent connectivity, being close to the Mumbai airport and well-served by road and rail networks.
Vile Parle West 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.
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