Ghodbunder Road – The Hot-Spot of Mumbai & Thane’s Realty Development
Today, with the rapid urbanization of Thane and its surrounding precincts like Ghodbunder Road, Kolshet Road and Majiwade the entire region has witnessed a significant upgrade in terms of all round connectivity, as well as both civic and social infrastructure. This has completely revamped the market profiling of this region and has turned it into a hot-spot real estate destination in the Mumbai Metropolitan Region (MMR). Hence every prominent builder from Mumbai has been investing heavily in Thane as it still has abundant supply of land parcels available at competitive prices.
Between years 2012 and 2017, Ghodbunder Road, Kolshet Road and Majiwada have emerged as prime residential areas, accounting for 74% of the total supply added to the Thane real estate market. The data collated by RERA in 2017, highlights that Ghodbunder Road alone constituted for 32% of the total new units furnished in Thane, emphasizing this region’s bona fides as a rapidly emerging real estate investment hotspot with tremendous future growth potential. Moreover almost 70% of these launches fell in the mid-segment price bracket (INR 60 lakh – INR 1.2 crore), which is undeniably the “sweet spot” budget range for mid-income homebuyers in the MMR. Real estate experts believe that property buyers here have enjoyed a 300% growth in the last five years!
This fast paced development of Thane has mainly been due to its proximity to nature coupled with the Government’s Smart City mission, its proposed plans to enhance connectivity and the consequent continuous infrastructure upgrades.
Future connectivity and infrastructural developments plans for Thane include:
1. The proposed metro rail that would run along the Ghodbunder Road with more than 10 halts within Thane itself. With the metro, the travel time between Thane and Wadala is expected to reduce by half
2. Construction of the Thane-Diva Road
3. The flyover at Bhiwandi bypass
4. The Metro-3 project to Kalyan and Mira – Bhayander areas
5. Parallel roads from Thane to Kalyan along the metro line
All these have undoubtedly made Thane and its surrounding precincts a viable choice for both, home and office buyers. Thus converting it as Mumbai Metropolitan Region’s (MMR) most rapidly emerging real estate investment hotspot with tremendous future growth potential that could generate attractive capital appreciation.