Why Invest in Real Estate in Thane?
Mumbai is one of the costliest places to invest in real estate, and therefore its residents are now moving towards other destinations to make lucrative investments in real estate. Since last three years, the property rates in Mumbai have increased by 49.87%. Today ,Thane being cheaper than Mumbai, is not only a lucrative option for buying property, but also tops the real estate chart in giving higher returns for home buyers who have invested in Thane. Thane City, located in the north-eastern part of Mumbai, is the headquarters of Thane District with Navi Mumbai, Kalyan, Ulhasnagar and Ambernath being some of the other cities in the district. It is the third most industrialized district in the state of Maharashtra. As a consequence, real estate is an important industry here. It is the city of lakes with more than 30 + lakes and the famous Parsik and Yeoor hills ranges. But why is it that Thane has gained popularity for investment in real estate in the past few years. Some of the most important factors include:
Transport & Connectivity:
It has a very good rail and road transport for easy mobility. It is only 36 km from the Chhatrapati Shivaji International Airport Mumbai. Thane has very good rail connectivity, not only to Mumbai city but to other parts of the state through the Central and Trans Harbour Line Suburban railway network. It is one of the busiest suburban rail stations in the state of Maharashtra.
Thane also enjoys immaculate connectivity to Navi Mumbai, Eastern and Western Suburbs of Mumbai via Ghodbunder Road, Jogeshwari Vikhroli Link Road (JVLR), SantaCruz Chembur Link Road, 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.
Thane also has a good network of inter and intra-city buses operating to various parts of the city and the country. All major transport corporations like BEST, TMT, KDMT, NMMT, and MSRTC all operate buses to and from Thane.
Also, the Proposed Wadala – Ghatkopar – Teen Hath Naka (Thane) – Kasarwadavli, Mumbai Metro Line 4 project will connect Mumbai city with Thane and has a passageway of 32km. With the metro, the travel time between Thane and Wadala is expected to reduce by half. In a bid to decongest the busy Thane-Belapur road, the Mumbai Metropolitan Regional Development Authority (MMRDA) is constructing three flyovers on this stretch and a subway at Mahape.
Healthcare facilities are of utmost importance in any area and Thane has a horde of high class Hospitals like Hiranandani, Jupiter, Kaushalya Medical Foundation Trust, Bethany and Aayush that offer multi-specialty health care facilities. There are also many reputed private clinics and labs to cater to the medical requirements of the people here.
Infrastructure Projects approved and proposed:
The driving force for the growth in the city has been robust infrastructural growth along with developments on the residential and commercial front. The growth of flyovers, highways and wide roads have changed the image of Thane as an urban agglomeration. Besides, a proposed 32-kilemetre Metro link from Wadala to Kasarvadavali will further ease the commuting experience for the residents in Thane. Arterial roads like the Pokhran Road and the Ghodbunder Road offer road access to neighbouring localities.
A Sprouting Real Estate and Commercial Hub!
Thane is also considered to be the emerging commercial real estate hub, offering enormous employment chances, due to forthcoming IT & Business parks. With very reasonable rentals, Thane is all set to be the emerging central business district of Mumbai.
With a varied mix of opulent choices and rapid development of social infrastructures and higher ROI (Return on Investment), Thane today is among the top investment destinations in the country. Today residential and commercial properties in Thane are par with International standards and the presence of the industrial belt is also the driving force of the growth in Thane.
Another important factor influencing the investment decision is Education. Both Thane East and West has many engineering, medical and professional colleges. Reputed schools include Hiranandani Foundation School, Billabong International, Euro School, DG International, DAV Public School, New Horizon Scholars School, Arya Cambridge International School, St. John the Baptist and St. Xavier’s to name just a few. These schools offer State, CBSE, ICSE and IGSCE syllabi. There are also many Junior and Degree colleges here like the ICFAI University, B N Bandodkar College of Science, NKT College, Thane ITI, etc.
Shopping & Entertainment
Any place without shopping and entertainment areas is not worth investing in. Thane has several popular hang outs, malls, eateries and cinema halls. The Ghodbunder Road area is a hot spot for malls and entertainment. Korum mall is a popular hangout with an INOX theatre. Viviana Mall in Majiwada is another popular one with a multiplex. These malls and other exclusive shopping areas also feature food courts offering a multi-cuisine eating experience. There are many fine dining and gourmet restaurants in Thane.
With all the future developments that are being planned by the government, in terms of connectivity and employment, and with the migration of people to cities like Thane, great stress will be put on the civic authorities to provide better civic services and social amenities. As per property pundits, the prospective homebuyers have incurred a gain of 300 percent in the past five years Thane real estate.
Whether it is for own use or as an investment, now is a good time to buy flats in Thane.