Thane, a city located in the Mumbai Metropolitan Region, has emerged as a lucrative real estate market in recent years. The city offers a perfect blend of modern infrastructure and natural beauty, making it an ideal destination for homebuyers and real estate investors alike. Thane's real estate market is driven by various factors such as affordable pricing, ample open spaces, excellent connectivity, and the presence of prominent industries, among others.
Here are a few reasons why investing in property in thane east a lucrative and viable decision.
Affordability and Open Spaces
Thane's real estate market is highly attractive to homebuyers who seek affordability without compromising on quality living. Thane offers more open spaces and greenery than the densely populated Mumbai, making it a preferred location for those who seek a peaceful and tranquil environment. Homebuyers can choose from a variety of options, such as apartments, villas, and townhouses, all at comparatively affordable prices.
Employment Opportunities
Thane has emerged as a commercial hub, with several IT parks, manufacturing units, and business centres located in the city. Companies like TCS, Voltas, Blue Star, and Bayer have their offices in Thane, creating job opportunities for the local population.
The presence of these companies has not only created job opportunities but also boosted the demand for real estate in the city. Many professionals prefer to live close to their workplace to avoid long commutes, and Thane offers an ideal location for them to invest in.
Industrial Areas in Thane
Thane's strategic location, just 20 km from industrial areas in Bhiwandi and Thane-Belapur Road, makes it a highly desirable location for people working in these areas. The proximity to prominent industrial hubs such as Wagle Industrial Estate, Kolshet Industrial Area, and TTC Industrial Area has fueled housing demand in Thane. This has led to the development of several commercial and residential projects in areas such as Ghodbunder Road, Manpada, and Kapurbawadi. These areas have attracted a large number of industries, including pharmaceuticals, engineering, and chemicals.
Emerging Micro-markets
Thane is divided into several micro-markets, each with its own unique characteristics. Some of the emerging micro-markets in Thane include Ghodbunder Road, Kolshet Road, and Majiwada.
- Ghodbunder Road is one of the most popular micro-markets in Thane, with several high-end residential projects and commercial spaces located here. The area is well-connected to the rest of the city, making it an ideal destination for real estate investment.
- Kolshet Road is an upcoming micro-market in Thane, with several real estate projects being developed here. The area is known for its greenery and is ideal for those who prefer a serene and peaceful environment.
- Majiwada is another emerging micro-market in Thane, with several affordable housing options and commercial spaces located here. The area offers excellent connectivity to other parts of the city, making it an ideal location for those who prefer to live close to their workplace.
These emerging micro-markets offer excellent investment opportunities, with several developers launching new projects in these areas. With the increasing demand for residential and commercial spaces in Thane, these micro-markets are expected to witness significant growth in the coming years.
Excellent Connectivity
Thane is well-connected to other parts of Mumbai and Maharashtra through a robust network of roads, railways, and airways. The city is served by several major roads, such as the External Bypass Road, Thane-Bhiwandi Road, Ghodbunder Road, and Pokharan Road Number-2, among others. The city is well-connected to Mumbai and other major cities through the Eastern Express Highway and NH-3, which makes it easily accessible to commuters. Thane boasts of a well-developed transport system, with both the Central and Western railway lines passing through it.
Thane is also served by the Central Railways, connecting it to Mumbai via the Lokmanya Tilak Terminus (LTT). The city's railway station is within a 7 km radius from prime localities of Majiwada, Kapurbawadi, and Kalwa.
Government Initiatives
The government has launched several initiatives to promote real estate investment in Thane. The Maharashtra government has announced a series of measures to boost the affordable housing segment, including tax exemptions and subsidies for developers.
The government has also proposed the development of several infrastructure projects, including the MTHL and the proposed metro line, which will enhance the connectivity between Thane and Mumbai. These initiatives have contributed to the overall growth of the real estate market in Thane and have made it an attractive destination for investors.
Prominent IT Parks
Thane is home to several prominent IT Parks, including the iThink Techno Campus and the G Corp Tech Park. These IT Parks have attracted several multinational companies, leading to an influx of highly skilled professionals seeking quality housing options nearby.
Recreational Facilities
Thane offers several recreational facilities, including parks, malls, and tourist attractions. The well-established malls in Thane, including the Viviana Mall and the Korum Mall, offer a range of shopping and entertainment options. Thane Grand Central Park and the Hiranandani Joggers Park are two of the major recreational parks in the city, offering ample space for outdoor activities such as jogging, walking, and cycling.
Thane Creek Flamingo Sanctuary (TCFS) is a protected area covering mangrove forests and a water body. It is a popular destination for bird watchers and nature enthusiasts. Some other popular tourist places in Thane include Upwan and Masunda Lakes and Ovalekar Wadi Butterfly Garden.
Educational and Healthcare Facilities
Thane is home to several prominent educational institutes, such as the CP Goenka International School, Radcliffe School, and Hiranandani Foundation School. The city also offers quality healthcare facilities, including the Currae Specialty Hospital, Infinity Medisurge Centre Specialty Hospital, and Thane Noble Hospital.
Transportation and security
Thane Municipal Transport, the transport wing of TMC, operates around 504 buses on 117 routes, every day. This provides an affordable and convenient mode of transportation for the residents. Additionally, the flyovers at Almeida-Chandanwadi Junction and Sant Namdev (Telephone Exchange) Junction have eased traffic congestion, making travel hassle-free for commuters.
As for security, around 400 CCTV cameras have been installed across 10 wards of Thane City, making it a safe and secure place to live. Around 415 routers have been installed across Thane City to provide WiFi services. 'Tejaswini' buses, meant for use only by women, have been started in the city.
Conclusion
Thane is one of the fastest-growing cities in Maharashtra and has emerged as a hub for industries, IT parks, and education. The city's strategic location, connectivity, and infrastructure development have become a popular destination for homebuyers and investors. Thane's real estate market is expected to grow in the coming years, making it a promising investment option. With its growing economy, excellent amenities, and recreational options, Thane is an excellent place to live and work.
