One of the Most lucrative spaces on the real estate map, Thane, has risen as a realty hostpot among buyers and developers alike over the years.
New projects in downtown Mumbai are close to saturation point and have been observing a space crunch, causing the growth in the mainland towards the northern and eastern directions, thus creating the 'up-town phenomenon'. The migration of aspiring job seekers into Mumbai, growing nuclear families, better lifestyle, connectivity, newer locations offering business op-portunities, an increased affordability and an availability of home loans are creating a huge demand for residential and commercial properties, thereby pushing the growth of areas like Thane and Dombivli-Karjat region.
Thane is hence, growing to be the uptown of Mumbai, In recent times, it has been an attractive destination in terms of infrastructure support and growth prospects. Rightly priced property prices, project facilities and a supporting infrastructure provide an advantage to the real estate here. Currently, Thane has a favourable social infrastructure and connectivity, thanks to the presence of some of the finest developers with a successful track record in this region. Proposed infrastructure plans and their timely execution will place Thane, as a case study, in real estate development of MMR.
As far as residential projects and their consumers are concerned in India, especially in Mumbai, they demand holistic products, which can cater to the ever growing demands of all family members. It is all about providing amenities such as a clubhouse to spend quality time; swimming pool to rejuvenate from the stressed and fast paced life of Mumbai; senior citizen - friendly areas so that they also have their much needed space; a play area for kids and crèches to make sure they are taken care of a well equipped gymnasium and multi- sports facilities to stay fit; hobby rooms to engage in personal passion, etc. Thane can provide all the above mentioned amenities within your residential projects as well as within a small radius of your home and that too, at a much acceptable price point. In Mumbai, where affordability of owning your dream home is getting dearer, it is of utmost importance to pick the right location and project.
Today, Thane is encompassing the luxury element of downtown Mumbai on one side and smart sized apartments on the other side; i.e. studio, compact 1 and 2 BHKs and smart 3 BHKs in Thane.
Neral is also being touted as the ‘next Badlapur’ owing to the infrastructure development. Vikram Gadekar, owner, Sree Vriddhi Properties says, “While much of the development in Badlapur happened because of Ambernath and proximity to Thane, Neral is a close beneficiary owing to its proximity to Badlapur. Despite the fact that Vangani and Shelu are closer to Badlapur, infrastructure development is hinting at Neral as the next beneficiary.”
The increase in office space demand in Thane and nearby locations has led to a walk-to-work concept and reduced travel time in a major way. Thane is also endowed with multiple renowned schools, multi-specialty hospitals, temples, shopping malls, avenues for recreation and entertainments, fine dining restaurants and eateries within the easy reach of the people.
The topography also provides for fresh and non-polluting air-quality, especially in the region like Ghodbunder Road, which is surrounded by natural greenery of Sanjay Gandhi National Park on one side and the flowing Vasai Creek and Ulhas River on the other. The planned infrastructure of the city keeps away the dumping grounds, pollution and thrash areas to ensure freshness in the air levels all the time. Moreover, Thane has over 33 lakes, which provides for additional items on your weekend places-to-visit list.
Speaking about connectivity; Thane enjoys superb connectivity to Navi Mumbai as well as to the eastern and western suburbs of Mumbai via the Ghodbunder Road. With the onset of various intersections like JVLR, SCLR, Eastern Freeway, NH-8, Mumbai-Nashik Highway and the Thane-Belapur Road, Thane forms the central hub to reach any where within 30-40 minutes. Besides the central harbour rail line, Thane-Panvel rail line and the central railways connect Thane to Mumbai's railway network very well. Future connectivity plans include the proposed Wadala-Kasarvadavli Metro rail that would run along the Ghodbunder Road with more than 10 halts within Thane itself. Other infrastructural developments on the cards include the construction of the Borivali- Tiku-ji-ni-wadi Tunnel, Ovala- Chena Freeway, Thane-Diva Road, the fly-over at Bhiwandi bypass, metro-3 project to Kalyan and also the waterfront development to connect Vasai and Gaimukh Creek.
To support the growth of this sector, the government is also giving tax rebates on housing loans, interest exemptions and fastening the process of approvals and sanctions. To sum it all, Thane the emerging uptown of Mumbai, is now catering to all demands from MIG housing to super luxury projects with major realty brands launching huge projects, thus making it a realty hub. Today, it is the most desirable, self-sustainable and environment friendly destination of the city.
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