Is Thane the Best Real Estate Investment Destination in Mumbai Metropolitan Region?
Thane is an emerging megapolis of the Mumbai Metropolitan Region and the best and most preferred real estate investment destination in Mumbai Metropolitan Region. Affordable living with life style amenities at value based pricing and Infrastructure development have been the key differentiators that sets Thane apart, from the other realty markets in adjoining areas. Its rise in the past few years has been simply phenomenal and has made it the undisputed hotbed of real estate development and the best investment destination the MMR. Proven data suggests that it has not only shed its image as an industrial town, but has emerged as a standalone real estate destination booming with exponential growth. Thane has accounted for almost 65% of the city’s overall housing supply between 2012-17.Real estate experts believe that property buyers here have enjoyed a 300% growth in the last five years. Economic advisors and analysts suggest an estimated 40% increase of employment opportunities in the Mumbai Metropolitan Region (MMR), including Thane. Such a predicted hike in jobs would entail a major increase in the demand for housing and subsequently could generate further capital appreciation for real estate investments in Thane.
Last year alone, Thane contributed as much as 18% of the entire supply of housing projects launched in MMR. Even more interestingly, of the 70,000 housing units that hit the Thane market in the last five years, 53% have already been sold. These figures are a mute testimony to the fact that Thane has succeeded in establishing itself as the most preferred choice of destination for real estate investment in MMR. Today, with its excellent physical and social infrastructure and the presence of major office complexes and shopping malls Thane is no longer considered a distant cousin of Mumbai. On the real estate investment rationale, Thane’s clear USP is the availability of sufficient land parcels for future development. The ability for spatial expansion gives Thane a competitive edge over the other severely space-constrained regions of Mumbai. Thane also enjoys superb connectivity to Navi Mumbai as well as to the Eastern and Western Suburbs of Mumbai via Ghodbunder Road, JVLR, SCLR, Eastern Freeway, NH 8, Mumbai-Nashik Highway and the Thane-Belapur Road. Besides, the Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways connect Thane to Mumbai’s railway network.
Future connectivity plans include the proposed metro rail that would run along the Ghodbunder Road with more than 10 halts within Thane itself. Furthermore MMRDA plans to construct a 32-km Wadala-Ghatkopar-Thane-Kasarvadavli Metro corridor, which will reduce travel time by 50%. Other infrastructural developments on the cards include construction of the Thane-Diva Road, the flyover at Bhiwandi bypass, metro-3 project to Kalyan and Mira – Bhayander areas and parallel roads from Thane to Kalyan along the metro line. This will give a further fillip to the exponential growth of Thane.
Thane has an optimum mix of residential and commercial real estate. It has many renowned schools and colleges. Besides, its holistic growth and cosmopolitan culture, presence of famous hospitals, easy accessibility of mega multiplexes and great weekend getaways for family. All these factors together make Thane the best real estate investment destination in Mumbai Metropolitan Region.