Thane: The best real estate market in the Mumbai Metropolitan Region?


The real estate market in Thane, may prove to be a better investment option, compared to its adjoining areas. We look at what’s on offer and the future prospects in Thane

Thane, on the outskirts of Mumbai, is a real estate market that has a plethora of options for property buyers. Infrastructure development has been the key differentiator that sets Thane apart, from the other realty markets in adjoining areas. Sushil Raheja, CEO of Raheja Homes Builders and Developers, maintains that there are several factors that attracts home buyers to Thane.

  • “Thane has witnessed rapid infrastructure development. From having nothing to now, having almost everything, Thane city has come a long way.
  • Thane also has ample land parcels. There is an abundance of land that is owned as plots or built up into the houses.
  • A significant amount of real estate is MHADA property, which is expected to go under redevelopment.
  • It also has many chawls, which shall soon be converted into towers. This will upgrade the market price and lifestyle that the region offers,” he says.

Check out price trends in Thane

Owing to these reasons, Thane shall soon score over the Mumbai Metropolitan Region (MMR), feels Raheja.

See also: HC vacates previous order, allows Thane, Pune civic bodies to issue OC for new constructions

 

Thane real estate market’s USPs

Experts point out that Thane’s connectivity, will play the main role in its development. “It is accessible from a network of roadways, such as Ghodbunder Road, JVLR, SCLR, Eastern Freeway, NH-8, Mumbai-Nashik Highway and the Thane-Belapur Road. This makes it easy to commute to neighbouring areas and the main city,” explains Dharmesh Jain, chairman and managing director, Nirmal. “A wide variety of choices and upcoming constructions, have increased Thane’s popularity as a residential and commercial hub. Contradictory to land-starved main city areas, which are plagued by congestion and traffic issues, Thane has green areas, well planned infrastructure and open spaces, offering a more enriched living,” adds Jain.

The municipal corporation has also come up with the ‘Vision 2031 Thane’, which focuses on infrastructure, financial accounting procedures and overall building capacity. Thane also has a strong presence of commercial realty, businesses and offices, which is only expanding and has been vital for increasing the overall potential of the area. Consequently, Thane was one of the few destinations that continued to remain stable even after demonetisation and the various reforms that were introduced.

 

What type of home should you buy in Thane?

Experts suggest that home seekers who can afford to wait for a few years, should buy an under-construction property, as they come at lower price points and the payment can be spread over a period of time.

Nevertheless, Thane also has a good supply of ready-to-move-in homes, for those who want to move in immediately. Amenities like parking spaces, play areas for children and recreation centres, are now available in many projects and must be considered, before purchasing.

Check out properties for sale in Thane

 

Top 5 reasons, why home buyers should consider investing in Thane

  • Excellent connectivity.
  • Healthy growth in the residential and commercial real estate segments.
  • Upcoming new projects in the area offer options for various buyer segments.
  • The Thane Municipal Corporation has adopted the Vision 2031, to boost growth of the region.
  • Continuous infrastructure development in the area.

 

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