Thane is fast scoring over other parts of the Mumbai Metropolitan Region (MMR), by becoming a sought-after region among home buyers. In its recent report, real estate consultancy firm Knight Frank India, stated that Thane has become popular among the rich, who are looking to buy a property.
In its Wealth Report, Thane is one of the 20 cities across the world, where the rich are currently looking forward to invest.
Advantages that Thane offers, for property buyers
There are multiple factors that are helping Thane.
Thane’s strategic location, realistic property prices, rapid infrastructure development and availability of land for housing, have helped it to emerge as a residential location that suits the new-age home buyers. Real estate experts point out that Thane has evolved phenomenally over the last few years, as a residential market. This has prompted people from Mumbai to shift to Thane, in search of homes that are competitively priced and offer good amenities, open spaces and greenery.
Compared to Mumbai, people can get bigger houses, with all the modern amenities. Investors too, can earn far better returns, as compared to the Mumbai’s realty market. The proposed metro to Thane, has also pushed up demand for the place.
Thane had several factories and industrial units, which subsequently closed down, to make way for real estate projects. Many information technology (IT) companies, have also shifted their offices to Thane and this is turning the city into a service and tech hub.
Prominent developers and prime areas in Thane
In recent times, various well-known developers such as Godrej Properties, Hiranandani Constructions, Kalpataru Group, Runwal Builders, Rustomjee, Piramal Realty and Puranik Builders, have all started projects in this city. Areas like Pokhran Road, Ghodbunder Road, Kolshet, Majiwada and Kasarvadavali, which boast of good schools, premium malls and good healthcare facilities, are in demand.
Thane is well-connected to the central and western suburbs via Ghodbunder Road and to Gujarat via the Mumbai-Ahmedabad Highway through Dahisar Check Naka. It is also connected to Bhiwandi, Kalyan and Navi Mumbai via the Thane-Belapur Road and to Mumbai city via the Eastern Express Highway and the Eastern Freeway.
Thane has become an affordable and preferred realty market, owing to the continuous improvement in infrastructure, seamless connectivity to Mumbai, emergence of new business hubs and the opening up of new land parcels, which are encouraging home buyers and investors to buy property in Thane.