Why Are Real Estate Properties in Thane Booming?
June 2024
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Those who live in Mumbai or who travel to the city can vouch for the constant evolution, the state of flux, and the phenomenal development that has taken place over the years. Nothing, however, comes close to the growth of Thane. From a quaint suburb that attracted industries and offered residential space for employees, Thane has grown into a dynamic and vibrant part of the Mumbai Metropolitan Region and one of the most sought-after residential markets in the state. Thane is all set to be the smart city that changes the way people in MMR live, and supporting this change is the Thane Municipal Corporation, with a host of digital and infrastructural programs. So it is no wonder young Mumbaikars are looking to buy into the real estate scenario here, and seasoned investors are keener than ever to be a part of the Thane growth story.
- Connectivity Matters
The one cardinal rule of living in Mumbai is connectivity, which is the secret of Thane's phenomenal growth. Apart from the extensive bus and train network that connects Thane to the rest of Mumbai, the expansion of the metro circuit comes as good news to those who commute through the Wadala-Ghodbunder Road and Thane - Bhiwandi stretch. NH-8, Ghodbunder Road, and Mumbai-Nashik Highway are some arterial roads connecting Thane with other Mumbai localities. The excellent connectivity of Thane to the upcoming Navi Mumbai airport and to the heart of Mumbai itself makes for convenient and quick intra-city movement. - Suburbanisation Factor
Thane has always had a high concentration of industries, but the recent trend of suburbanisation has tipped the scales firmly in favour of Thane. With major IT companies like TCS and Capgemini relocating to this micro market in favour of larger spaces and better facilities, Thane's residential market, too, has received a boost. The Wagle Industrial Area, Odyssey IT Park, and a number of IT parks and business centres have opened up in Thane attracting more satellite offices of corporations. - Choosing a Lifestyle
Mumbai is hip and happening, but so is Thane without the congestion and pollution. The large waterbodies, parks, and the proximity to the Sanjay Gandhi National Park make for better air quality, a cleaner, greener environment, and certainly a better lifestyle. With property prices being more affordable than SoBo, homeowners can look at owning larger homes in projects that offer health and fitness facilities and smart homes. - Social Equity
Swanky restaurants and entertainment centres, upscale malls, cafes, and clubs – you name it, and Thane has it. Fortis, Jupiter Hospital, SRV Mamta Hospital, Vedanta Hospital, and Apollo have all set up expansive campuses in Thane, offering the best medical facilities. The spurt of world-class colleges and schools has made this micro market very attractive for home buyers. - Focus Developers
Despite the boost in demand, industry experts believe that the Thane real estate story is still at a very nascent stage. The greatest advantage for investors comes from the fact that the projects in Thane are made to suit every budget. You can take your pick from simple 2BHK real estate property in Thane to luxury apartments. The asset appreciation in both cases is expected to be very attractive.
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Source: blox.xyz
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