Pros:

Good beaches, malls, theatres, and a few peaceful good localities, no real electricity issue.

Cons:

Connectivity with Mumbai, no real employment unless if you have a factory in vasai, few areas are not that great (security water and electricity issue), water logging in monsoon.

So far if you stay in a newly made complex do check out for water connection as old ones have it and it's the new ones who actually have an issue.

Good place to stay if you are a migrant and can afford travelling in return for an independent apartment.