Booming MMR Real Estate Market: Thane vs Navi Mumbai

The Mumbai Metropolitan Region (MMR) is one of the most sought-after real estate hotspots in India. Thanks to its strategic location, premium way of living, and amazing infrastructure projects, the region is a much-preferred choice for homeowners and investors. As the area is bound to witness some remarkable developments in the coming time, there is also expected a boost in its real estate market. And with the kind of lucrative returns the area promises to offer, we are sure everyone would like to know which would be the ideal to invest in.

Today, we are going to talk about two of the most flourishing cities in the MMR – Thane and Navi Mumbai, to help you pick the best:

Infrastructure

One of the most important aspects of a real estate market is the infrastructural facilities offered. So, let us compare Thane vs Navi Mumbai based on their infrastructure.

Over the last two decades, Thane has been constantly developing, and this has helped the city achieve a position amongst India’s emerging smart cities. The city is home to several MNCs and well-known businesses, TCS, ICICI Bank, Kotak Mahindra Bank, Eureka Outsourcing Solutions, Raymond, and many more.

Coming to Navi Mumbai, which also has a plethora of SME offices, offering great job prospects to its residents. The city is dotted with retail outlets, banks, restaurants, schools, colleges, parks, clubs, and multispecialty hospitals.

Connectivity

The Green Line metro is under construction in Thane. This is a 57.18 km elevated and underground metro line that will ease connectivity in the city. The line will provide smooth and quick connectivity to several metro stations such as Andheri, Gaimukh, Kanjurmarg, and more. Other than this, the airport is located approximately an hour away from the city. Talking about roadways, residents can benefit from great connectivity to neighbouring cities through the Eastern Express Highway.

Navi Mumbai, on the other hand, is on its way to developing an integrated connectivity infrastructure for its residents that will simplify their daily commute. However, Navi Mumbai is also located near to the Mumbai International Airport – 18 kilometres away. Another noteworthy aspect is that Navi Mumbai is better connected to nearby cities as compared to Thane. Also, with The Sion-Panvel Highway, the connectivity for the people in Navi Mumbai has improved. The ongoing Trans Harbour Link Road will improve connectivity from Ulwe to South Mumbai.

Developers

If the dilemma of Thane vs Navi Mumbai is still on, you should consider having a look at the developers in each city.

Thane has a bunch of highly reputed developers who have come up with some of the most aesthetic and functional places. These include Lodha, Hiranandani, Piramal, and Puraniks. Some of the projects that are worth having a look at are Piramal Vaikunth, Lodha Amara, Puraniks Unicorn, and Dosti West.

Talking about Navi Mumbai, the city is also blessed with some amazing developers like Sai Developers, Arihant Superstructures, Indiabulls, and more. Some residential projects that you can consider in Navi Mumbai are Marathon Nexzone, L&T Seawoods, Adhiraj Mainland, and Arihant Aspire.

Return on Investment

While homebuyers would focus more on all the aforementioned factors, for an investor, it is all about how well the property performs in the long run. And whether you are a buyer or an investor, return on investment is something that you should not overlook.

Luckily, Thane’s real estate price growth has been quite steady over the last few years. Moreover, data suggests that local real estate values in Thane have gone up by 7 per cent in the last few years. Even Navi Mumbai has shown impressive figures recently. According to data, the property prices here have increased by 11 per cent.  

So overall, both the cities have seen a significant rise in property prices and are expected to be steady in the coming years as well.

Conclusion

Both Thane and Navi Mumbai are two amazing cities in the Mumbai Metropolitan Region that are expected to thrive in the near future. While the debate of Thane vs Navi Mumbai is long-running, we hope that all the information and statistical figures will help you evaluate the real estate market of both cities, which will help you make a prudent decision for your next purchase.