Thane – a city that was once considered a satellite of Mumbai, with a primarily Maharashtrian population – has grown over the decades to become one of the most sought after residential locations in the Mumbai Metropolitan Region (MMR). It has evolved into a cosmopolitan city with amazing residential projects that are not only perfect for end-users but also make for great real estate investment opportunities. In fact, Thane accounts for almost 20% of all new projects launched in the MMR.
It came as no surprise when FIRST Sm@rt Cities Council and Indicus Analytics listed Thane as one of India’s most promising cities. According them Thane met all the criteria of a ‘promising city’ – Apt location, better connectivity, infrastructure which includes transportation, water, electricity, sewage and greenery, pleasant environment, proximity of excursion spots, scope for employment and educational, medical and entertainment avenues.
In its research report of 2018, Knight-Frank identified Thane and its surrounding areas as a high-interest zone, due to its ‘superbly executed residential developments, commercial establishments and organized infrastructure complemented with the lush green surrounding.’
A City of Aspirations
Thane is not just a ‘city’ it is a place where reality meets aspirations and people who have elected to live here can vouch that selecting a property in Thane was probably one of the smartest decisions of their lives. With availability of large land parcels in, developers are able to plan projects in Thane that come with all the requisite amenities and conveniences that spell ‘aspirational living.’ Reputed developers like the Lodhas, Rustomjee, Hiranandani etc are crafting residential projects that are ‘gated communities’ or ‘self-sufficient townships’ that make them ideal for families. With locations like Majiwada, which also boast of a burgeoning commercial sector and growing demand for professionals, especially in the IT sector, the ‘walk to work’ concept is also coming into its own.
It’s Only Getting Better
Not only is Thane privy to excellent connectivity in the form of a dedicated railway station (access to both harbor and central local train services) and ease of access to every part of the MMR via a network of roads, there are several projects in the anvil which will only serve to greatly benefit commuters. These include the Sea Link connecting Bhayandar with Naigaon which will drastically reduce the time taken to travel from Bhayandar to Naigaon; Mumbai Trans Harbor Link which will stretch from Mumbai to Navi Mumbai, significantly reducing travel time; Construction of Elevated Road along NH 3 which will help decongest the massively populated Thane-Bhiwandi Bypass Road. Other projects that are planned to increase connectivity both within the city and to other parts of the state include the Metro project, Kopri Railway Station and the Mumbai-Nagpur Expressway.
The Thane Municipal Corporation is also dedicated in its plans to make Thane one of the model cities of the country. Towards this end they have devised the ‘Vision 2031 Thane’ which will craft world-class civil and social infrastructure that will greatly benefit the Thane-ites.
Spoilt for Choice
Prospective home buyers looking for flats in Thane will find several options to choose from. Indeed, developers are providing for every variation in home configuration and for every budget. Whether it is a single person, a nuclear family or a joint family, anyone can find their dream home in Thane. Investors can rest assured that property in Thane is a solid investment. For instance, in the case of Majiwada, there has been an appreciation of an average of 20% annually on real estate investment.