Thane is becoming the first choice

With ample availability of land, excellent connectivity and stable prices, Thane is becoming the first choice for end users.

With high property prices plaguing the Mumbai realty market, Thane have always been the relatively affordable alternatives. End users seem to have become positive about Thane. Not just buyers, sentiments seem to be soaring among all stakeholders involved in the realty market as far as Thane is considered.

Boost to infrastructure and government initiatives, that would enhance development in the city, are the prime reasons for the positive sentiments. These factors are luring more buyers towards Thane, even though prices are higher than Navi Mumbai.

1. Social and Physical Infrastructure

    Renowned developers have launched their respective projects in Thane in the last three months. Ample availability of land and ease of connectivity to three main highways, Viz., Mumbai-Agra highway, Mumbai- Ahmedabad and Mumbai- Bangalore highway has attracted residential development here. With the advent of time lifestyle quotient of the city has also improved. The city houses several multiplexes, malls and showrooms for the shopping enthusiasts apart from basic facilities such as hospitals and schools.
    Connectivity of the region is set to get a further impetus with the proposed metro corridor. As per MMRDA the Line 4 of the Mumbai Metro-Wadala-Ghatkopar-Teen Hath Naka (Thane)-Kasarwadavli- will directly connect Thane to Mumbai. It is speculated that after the commencement the line would benefit 12 lakh passengers by 2031. The distance between Wadala & Kasarwadavli will be covered within 64 minutes. This will lead to a comfortable, speedy and air-conditioned journey for daily commuters. As per the inputs from Jha, almost 80 per cent of the construction of the first phase of the corridor has been completed.

2. Government Measures

Several measures by the government and municipal authorities have also added to the positivity among the stakeholders. Sentiments have surged on the back of expectations of a more a developed city.

Cluster Development: To begin with, a cluster development initiative has been proposed after a 20-year-old building in Kalwa collapsed. The plan is to repair and refurbish over 2,500 old and dilapidated buildings in the city.

The Thane Municipal Corporation (TMC) City Development Plan: The plan is to scrap the 20-year-old existing plan. This will entail demarcation of roads, thus, lending more clarity with regard to additional space for development within the city. “A new development plan is the need of the hour because Thane is already very populated and traffic snarls are a major issue here. If implemented, the new development plan would certainly give a much-needed facelift to the city.

    
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