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With limited space for expansion, Mumbai has very few property locations that have evolved to meet the requirements of modern home buyers. Thane, on the other hand, is one location that perfectly suits the new-age home buyers.
Property prices in Thane are realistic, as the region has developed recently. Moreover, Thane caters to all segments of property buyers, points out Manju Yagnik, vice-chairperson of the Nahar Group. “Thane already has a good social infrastructure in place, while more infrastructure developments are being planned or are ongoing. Coupled with its strategic location and good connectivity, Thane is an ideal location for new-age home buyers,” Yagnik maintains.
Meeting buyers’ expectations
Nowadays, home buyers consider the surrounding environment, while purchasing a home.
Experts believe that Thane has evolved phenomenally over the last few years, as a residential market. This has prompted people from the city to shift to Thane, in search of homes that are competitively priced, coupled with good amenities, more open spaces and greenery.
“Today’s home buyers are well-educated, travel across the globe and have more disposable incomes. Hence, they look for homes that match their standards and provide a better quality life. As a result, Thane, a self-sustaining metropolis, is attracting home buyers across segments. The region has mid-range projects, as well as luxurious residential projects that cater to the HNIs, businessmen, corporate heads and top management executives,” explains Mohit Malhotra, executive director, Godrej Properties Ltd.
Infrastructure in Thane
Thane has become an affordable and preferred realty market, owing to the continuous improvement in infrastructure, feels Maulik Sheth, director of Sheth Corp. According to Sheth, “The factors that encourage home buyers and investors to buy property in Thane are:
- Construction of new roads and flyovers.
- Excellent connectivity by rail and road to other locations of Mumbai.
- The emergence of new business hubs.
- Proactive government policies that focus on the growth of the city.
- The opening up of new land banks.”
Thane has large tracts of land for residential and infrastructure development and this has boosted the city’s growth. Healthy economy drivers, ample space and greenery, have also attracted large businesses and branded real estate developers, thereby, fuelling the demand for residential and commercial properties.
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 regular water and electricity supply. It has one of the largest malls in the region, and is also witnessing a boom in the commercial segment. This is the best time to buy a property in Thane, as everything that a buyer wants is in place,” concludes Kaizad Hateria, brand custodian and chief customer delight officer, Rustomjee Group.
What attracts home buyers to Thane?
- Presence of big malls and multiplexes like Viviana, Korum, Cinemax and Lake City Mall.
- Prominent schools and colleges available in the area.
- Amusement parks, good clubs, restaurants and resorts for entertainment and leisure.
- Thane is shortlisted under the smart city mission.