According to Report, Thane has come forth as one of the most attractive regions for investment in Mumbai owing to its exceptional connectivity, excellent infrastructure support and flourishing commercial as well as residential markets.
Thane was known as an industrial hub, but now due to several factors it is favouring as an upcoming realty destination. If we look at the real estate growth in Mumbai for last three to four quarters, it is clear that Thane has emerged as the face of real estate growth in Mumbai when compared to Navi Mumbai and MMR (Mumbai Metropolitan Region). As per data, average capital values in the zone have recorded an average growth of 1 - 2 per cent in the last one year. This can be attributed to its growing commercial, residential, retail and infrastructure development.
Realty in Thane is witnessing a healthy growth for the last few years owing to improved infrastructure, excellent connectivity and thriving commercial and residential activity. Various highways, proposed mono railway project, affordable housing market and good connectivity to Mumbai make Thane an attractive destination for investment. Not just new but many reputed developers are also moving towards the fringes of Thane for building there projects.
Thane was known to be an alternative destination for those who could not afford to purchase a house in Mumbai. However, it has turned out to be not just an attractive destination but also a case study in urban development. With respect to appreciation potential, physical and social infrastructure, rental market, total liveability index and launch to sales ratio of the housing projects Thane fares better than Navi Mumbai and MMR (Mumbai Metropolitan Region).
Thane has been selected as one of the smart cities to be developed in the country. This has further given a boost to the real estate sector here. The area provides for all segments of housing be it luxury, affordable or mid segment. Also people from the city are shifting towards Thane in search of homes that are competitively priced but do not compromise on amenities and open space.
Growth Drivers
1. Relative affordability
Thane has emerged as the preferred choice for real estate investment due to the relative affordability it offers as compared to Navi Mumbai and MMR (Mumbai Metropolitan Region). Since prices have sky rocketed in Navi Mumbai too, which was earlier considered as the affordable cousin of Mumbai, buyers have now started moving towards Thane. One can find affordable housing projects on the fringes of the city which offer compact 1 - 2BHK units with amenities like piped gas, gym, club house, swimming pool, security, rain water harvesting, intercom facility, etc.
For instance, capital values in major residential pockets in Navi Mumbai like Belapur, Kharghar, Panvel and Ulwe range from Rs 6000 - 9000 per sq ft while emerging locations in Thane such as Ambernath, Badlapur, Kalyan and Khapoli offer properties at Rs 3500 - 6000 per sq ft approximately. These localities are also potential investment destinations as these have witnessed a healthy appreciation in the last few years.
2. More budget housing Launches
While Mumbai is reeling under the pressure of low sales and unsold inventory, residential sales in Thane are on the rise. Established developers like Squarefeet Group, Lodha Group, Rustom Developers and Aura Group. Have launched their affordable housing projects on the peripheries of Thane.
3. Infrastructure and Connectivity
What has worked out for Thane as an affordable and preferred realty market is the continuous improvement in infrastructure with the addition of new roads and flyovers, providing better connectivity by rail and road to other locations of Mumbai. Some of the important projects include Santacruz - Chembur Link Road, proposed fourth phase of the metro, underground tunnel from Manpada to Borivali, two proposed monorail lines that will connect Thane with Dahisar and Kalyan respectively. At present there are seven flyovers for which work is in progress which will connect Thane with Dahisar and Ghodbunder with Bhiwandi.
With the proposed smart city project the realty landscape in Thane is set to improve further. Thus, thus seems to be a good time to invest here as property prices will only upwards from here.
Check out Properties in Thane, Bhiwandi, Mumbra, Ambarnath by Squarefeet Group
You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in
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