Thane is fast scoring over Mumbai and other parts of the Mumbai Metropolitan Region (MMR) by becoming the first choice for home buyers.
There are multiple factors that are helping Thane to score over Mumbai and other parts of MMR. Thane’s strategic location, realistic property prices, rapid infrastructure development and availability of land for housing, have helped Thane emerged as the ideal residential location that suits the new-age home buyers.
The top ranking of Thane among home buyers has been backed up by the recent study by Knight Frank India Limited. In its recent report, the well-known real estate consultancy firm stated that Thane has become popular among the rich 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 their wealth.
Real Estate experts believe 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, offer good amenities, more open spaces and greenery.
Compared to Mumbai, people can get bigger houses with all the modern amenities in place. As far as investors are concerned, they get far better returns compared to the Mumbai 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 that is turning the city into a service and tech hub.
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 Ghodbunder Road, 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, and factors such as rapid infrastructure development, seamless connectivity to Mumbai, emergence of new business hubs and opening up of new land parcels are encouraging home buyers and investors to buy property in Thane.