Over the last decade, Thane has witnessed remarkable growth in infrastructural developments, Corporate Set-ups, City Administration, and city planning. There is no doubt that Thane has turned out to be one of the most sought-after destinations to own a house for the central line commuters in Mumbai.
Commercial and industrial developments in Thane have made it a go-to option for investments in real estate in and across Mumbai City. Property in Thane is of top quality as many famous and prominent real estate giants have their ongoing projects in Thane.
Some of the highlights of Thane that you cannot overlook are;
The Mumbai Metro Line 4, starting from Wadala to Kasarvadavli in Thane, is set to connect Thane to other parts of the city. If you own a flat in Thane, then you are connected to the whole of Mumbai.
Thane has multiple wards, which helps manage the city in a better way.
The roads in Thane are broad, and there is less congestion in the city. In addition, they are maintained well and hence are clean.
Thane has been a top city for many real estate developers in Mumbai. Big names in the real estate market, such as Indiabulls, have their projects in Thane.
Flats in Thane are more in demand now that there is commercial development. Areas such as Wagle Estate, Kapurbawadi, Godhbunder Road, etc., are seeing a rise in commercial properties.
This is why Thane has the potential to become one of the most sought-after real estate markets in western India, making it a natural favorite for households looking for a calm & serene lifestyle.
After the Work from Home culture came into mainstream post-pandemic, Thane’s real estate demand will be on an upswing, growing by leaps and bounds. The region is dotted with enormous township projects, presenting a host of property options in the affordable range of Starting from 50 lacs* – 1.3 Crores*. Most of the major developers in the MMR, such as Lodha, Rustomjee, Godrej, and Shapoorji & Pallonji, are coming up with mega projects in the region. As WFH is gaining popularity, many first-time homebuyers in Mumbai will now prefer Thane, as it can offer large living spaces at affordable rates.
The Thane Municipal Corporation (TMC) has systematically invested in the city’s infrastructure development. The suburb enjoys seamless connectivity with the Mumbai and Navi Mumbai region through the Thane-Panvel line, Central Harbour line, and the central railways. TMC is further making investments to systematically reduce travel time between Thane and other vital parts of MMR.
The Katai-Aeiroli freeway is expected to be operational soon, cohesively linking Thane with the Navi Mumbai region. The metro will quickly enter Thane, which will further give a facelift to the mass commute facilities in the area. Line 4 of the Mumbai Metro will link Thane with the Wadala region. Line 5 of the metro will connect Thane-Bhiwandi- Kalyan, thereby rendering convenient commute facilities to the residents. Thane is also part of the 500-km-long bullet train corridor, which is expected to be operational by 2027. TMC has recently also announced the Thane-Borivali tunnel, which will reduce travel time between the two nodes in MMR to just ~ 15 minutes.
As work has begun in the Navi Mumbai international airport, Thane is now situated close to the Major international airport. It will help the city make a mark on the domestic and international air routes.
A bustling commercial center
Thane is also a bustling commercial and retail center, consolidating its position as a housing stronghold. Compared to Navi Mumbai, it is a party to better retail facilities and social life.
It has helped Thane’s property market stay ahead of competitive rising estate markets like Navi Mumbai. Retail facilities, social amenities, and commercial real estate is poised to grow further in the Thane region. Recently, the Hiranandani group has invested INR 1000 crores in developing 2.6 million sq. ft of commercial space in the Thane region.
Upcycle in real estate demand
While many major markets in India will continue to grapple with dampened demand, upcycle will continue to unfold in the Thane region. The upturn in the market will be rooted in numerous factors, including a thrust to infrastructure, plenty of affordable property options, and overall higher living standards.
Besides first-time home buyers, Thane will also be a goldmine for the investor community. As new infrastructure development such as metro networks and roadways are taking full steam, strategic investment in the Thane region can offer a high yield to discerning investors. As growth is rooted in fundamental factors rather than cyclic curves, the investment will be primarily risk-averse in the coming times. Given these characteristics, Thane is a property goldmine that one should not miss.
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