Why Should You Buy Property in Thane?

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Published: 06th February 2017
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Micro-markets in Mumbai are completely saturated which is why property prices are constantly escalating upwards. Property in Mumbai is mostly unaffordable for the middle class, who have to look for options towards the outskirts. Apart from Navi Mumbai, Thane appears to be a good satellite city to live in.

The area enjoys good connectivity to Navi Mumbai and the Western and Eastern suburbs of Mumbai through the Santa Cruz Chembur Link Road, Ghodbunder Road, NH8, Eastern Freeway, Nashik Mumbai Highway and Belapur Thane Road. The Panvel Thane Rail Line, Central Railways, Central Harbour Rail Line are some of the railway routes serving connectivity between Mumbai and Thane.

Thane real estate is mostly concentrated in Thane west and Ghodbunder Road, which sees high appreciation on a year on year basis. Plans to improve connectivity between Thane and Mumbai have been made, in the form of the Metro Railway. It shall ply along the Ghodbunder Road and have ten halts within Thane. The travel time between Wadala and Thane is expected to be halved once the metro route commences. Other infrastructural improvements proposed include flyovers at Bhiwandi bypass, Diva Thane Road, Metro 3 to Mira Road-Bhayandar areas and Kalyan and parallel roads from Kalyan to Thane by the metro line.

Owners of property in Thane vouch that they wanted a break from the congested life that Mumbai had to offer. Commutes to CBD Mumbai such as Nariman Point and Worli from suburbs like Borivali and Dahisar take almost 2-3 hours by road, while trains are overcrowded. Availability of good schools and holistic environment for good upbringing of children is lacking in the city. This made a lot of buyers switch to Thane properties. The suburb has witnessed high growth in terms of availability of colleges, schools and hospitals. Retail and entertainment zones are also coming up in Thane, making its realty destination case stronger.

Ghodbunder Road, in particular, has attracted many commercial organizations because of the development of business parks and presence of well-developed civic and social infrastructure. Besides, the natural beauty of Thane is incomparable to that of Mumbai. The Thane Creek is of special attraction. There are several botanical gardens, amusement parks, riverside promenades and picnic spots in Thane to which residents can retire when they want to spend quality time with their families. To surmise, Thane's availability of public transport, roads with multiple lanes and central location have made its real estate a hit among end use buyers.

Even though most areas in Thane are doing well, none seem to be able to touch the success that Ghodbunder Road has witnessed. Not only is it replete in natural beauty, but is also a commercial hub. The government has formulated several plans for enhancing its connectivity. Those who have bought property in this area have witnessed a hike of almost 300 percent in the past five years. Analysts have computed that MMR (Mumbai Metropolitan Region) experiences an increase in employment opportunities by almost 40 percent annually, including Thane.

The estimated job hike would certain entail an increase in housing demand and would further lead to capital appreciation for Thane real estate.

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