Thane, home to over 12 million residents, today has emerged as a city with its own distinct character and economic drivers, including large businesses that have created demand for quality residential developments. With the emergence of planned developments fast becoming a rarity in the congested metropolitan blueprint, Thane has emerged as a preferred residential location in recent years.
Easy connectivity, infrastructural promise and spatial bandwidth with the emergence of mini-commercial districts; retail hubs; medical, school and entertainment hubs have made this micro-market a planned and quality option for home-seekers.
Thane is divided into 10 sectors in its development plan. Geographically at the center, Sector 5 comprising of Kolshet and Balkum, is now at the forefront of Thane's meteoric rise due to its centrality, enviable access to a great social infrastructure and superb connectivity. Located between east and west Thane, this belt is aptly called `Prime Central Thane' and is synonymous with great malls, large multiplexes, multispecialty hospitals, schools and branded residential neighbourhoods.
Prime Central Thane is also home to acres of greens, thus resulting in superior air quality (lower Air Quality Index). The region has one of the best AQI figures when compared to other parts of Mumbai. An urban oasis in its true sense, Prime Central Thane has become the driving force behind Thane's realty market. Not surprisingly, Thane is rated as the No. 1 investment hotspot by CII-JLL and Prime Central Thane is slated to earn 60 per cent appreciation by 2020, according to Knight Frank Report 2015, riding on the phenomenal infrastructure growth and commercial and employment expansion.
IMPROVING INFRASTRUCTURE CONNECTING THANE TO ALL PARTS OF MUMBAI
Infrastructure facilities have improved in the past few years with the construction of SATIS (Station Area Traffic Improvement Scheme) and multiple new flyovers on Ghodbunder Road. The three flyovers and one upcoming flyover in Thane, will help ease the overall vehicular traffic. Thane is well-connected to the eastern suburbs by the Eastern Express Highway and to the western suburbs. The city also has connectivity to Navi Mumbai by both, trains and roads. Connected via three major highways, including NH3, NH4 and Eastern and Western Express Highways, the city is being equipped with superior infrastructure such as subways, flyovers that will boost the infrastructure of Thane. The metro project (by the MMRDA) that aims to connect Ghatkopar to Ghodbunder Road and then Dahisar, will also improve connectivity between Thane and the western suburbs.
A few salient points:
- Wadala Ghatkopar Metro line to be ex tended to Teen Haath Naka and Kasarwadavali near GB Road.
- Thane-Borivali tunnel, scheduled to com plete by 2019, will revolutionise connectivity and bring down this distance to less than ten minutes.
- Thane-Bhiwandi-Kalyan Corridor.
- Elevated High Capacity Mass Transit Route (HCMTR), thus leading to equi table distribution of road traffic through Thane.
- A large proposed infrastructure development including tourism and water projects in Prime Central Thane.
EXISTING HIGH-CLASS SOCIAL INFRASTRUCTURE
Thane has the presence of six malls, a number of schools and colleges such as St John High School, Smt Sulochanadevi Singhania High School and many others. Lodha World School also has a centre in Thane. Jupiter and Bethany, both private multi-specialty hospitals, address the medical needs of the city.
COMMERCIAL SUPPORTS RESIDENTIAL GROWTH
Many state-of-the-art commercial complexes, especially IT companies, have also set base here. Industrial areas such as Wagle Estate, where some of the biggest national and international BPOsKPOs have moved their operations into newly launched ITITeS parks, are promising as well.
Considering the city's potential, many entrepreneurs are shifting to Thane, choos ing relatively more affordable commercial and residential real estate, which in turn is generating more employment opportunities within the city people in effect, don't need to commute painstakingly, to other places a resounding example of the `walkto-work' culture.
Interestingly, TCS has recently concluded a deal to lease 2 mn sq ft of office space which will bring over 30,000 jobs to Thane.Developers responded quickly to the increasing demand by launching more and more projects in the city. Today, the developer representation in Thane is impressive. The leading real estate developer in the country, understood the great potential of key catchments like Majiwada, Kolshet and Ghodbunder Road early on and now, the Group's towering presence in this region is unchallenged, with its projects consistently outperforming the market in terms of capital appreciation as well as rental yields.
CONCLUSION
With so much going for it, it's no surprise that Thane is considered to be the No.1 investment hotspot by Jones Lang Lasalle (JLL) and Confederati ion of Indian Industry (CII). All the economic indicators too show that the capital appreciation seen by Thane over the last few years, is only the tip of the iceberg, with its current potential being multi-fold. To top it off, it has the highest projected rental appreciation as well.(Source: Jones Lang Lasalle) The long-term future for property in Thane is excellent. While this area remains among the more affordable ones around Mumbai, there will be a steady rise in rates as development catches up with the planning and existing supply is absorbed by buyers.
Check out various projects by Squarefeet Group like Ace Square Residential Project in Kasarwadavali Thane and Imperial Square Residential Project at Ghodbunder Road, Thane.
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Email us at - sales@squarefeetgroup.in
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