While there are other projects in the vicinity, Vipul Lavanya is by the Vipul Group, who has to it's credit multiple good quality delivered projects. While the other new developers are struggling to create and establish credibility, Vipul already has a lead over the others in this respect.
It is important in today's times to make sure that your money is secure and the project comes up in time. That is where, one would prefer an established player in the market with a proven track record. So, looking at the prices being comparable, it does make sense to invest into this project.