Mr Bhavik Bhandari, CSMO, Ashwin Sheth Group
Thane distinguishes itself as a growing residential hub amidst the vast real estate landscape of the Mumbai Metropolitan Region (MMR). Renowned for its notable evolution and impressive advancements, Thane has emerged as a compelling choice for homebuyers. Additionally, it presents an attractive option for investors, given its potential to redefine the real estate landscape. Situated in the northeast part of Mumbai, Thane is more than just an extension of the city’s suburbs; it has evolved into a dynamic urban hub. The remarkable transformation of Thane from a distant suburb to a flourishing urban center is noteworthy.
A strategic location, a plethora of amenities and services, and excellent connectivity are among the many factors that have transformed the industrial town into a phenomenal real estate success story. Let us delve further into some of the key factors that have fuelled Thane’s ascent.
1 Strategic Location and Easy Connectivity
Thane’s strategic location within the Mumbai Metropolitan Region is a significant asset. Well-connected through an extensive network of roads and railways, it offers seamless connectivity to all parts of Mumbai and Navi Mumbai. By road, one may enjoy a hassle-free commute through the Eastern Express Highway, JVLR, SCLR, Ghodbunder Road and Thane Belapur Highway. Central and Harbour railway lines enable one to travel swiftly to most suburbs in Mumbai. Moreover, Thane’s accessibility has contributed to the appreciation of property values, further increasing its attractiveness to investors
2 Infrastructure Developments
The real estate landscape of Thane continues to evolve, with a large number of planned and ongoing infrastructure projects further elevating convenience and quality of life for the city’s residents. Significant projects include the Thane-Wadala Metro Line (expected to halve travel time), the Thane-Borivali underground tunnel, the flyover at Bhiwandi bypass, Thane-Diva Road, and the Metro-3 project extending to Mira-Bhayandar areas
3 A Healthy mix of residential and commercial properties
Developments in residential and commercial real estate have given a strong impetus to Thane’s growth, attracting numerous professionals, and their families, to the city. A wide range of high-rises, luxury residences, gated communities, and villas, are complemented by a burgeoning commercial landscape of business parks, IT hubs, and shopping complexes making Thane an ideal location to live, work, and settle families. Lucrative employment opportunities, fine residences, premium retail and entertainment options, renowned educational institutions, and top-notch healthcare facilities are all within easy reach
4 Availability of green spaces
Thane boasts of abundant green spaces, offering residents the opportunity to immerse themselves in nature amidst picturesque hills, scenic lakes, and lush greenery. The city, often referred to as the ‘City of Lakes,’ is adorned with around 35 water bodies, including the renowned Upvan Lake. Additionally, Thane features the tranquil nature trails of Sanjay Gandhi National Park and the lofty Yeoor Hills within its vicinity. The city enhances residents’ quality of life with various parks and promenades
5 Property Value Appreciation
Thane has proved to be an investor’s delight in recent years, with a significant price appreciation of around 30% over the past two years, according to some estimates. Good connectivity and social infrastructure have contributed considerably to this upward swing. Appreciation of property values not only delivers a strong ROI to existing residential and commercial property owners, but spurs a virtuous cycle resulting in further investment, and value-creation, in the city.
The growth of Thane’s real estate development is a testament to the exceptional development that Thane has experienced over the last two decades, with an ever-increasing number of people seeking the open spaces and world-class infrastructure and amenities of Thane as an alternative to the congestion that is prevalent in many parts of Mumbai. In the years ahead, the aforementioned factors will no doubt continue to drive the Thane growth story, reinforcing its status as a dream investment destination, as well as a great place to live and work.