Falling under the Konkan region and in the Thane district, Majiwada has gained a lot of prominence in the real estate industry over the years due to its growing infrastructure. Also known as old Thane, the mid-segment locality has a population of over 18 lakhs spread across 147 sq km. Nonetheless, this MMR region district enjoys some connectivity benefits due to the Eastern Express Highway, Ghodbunder Road, and Thane Biwandi Road.
Though not talked about as much, the Thane district has gained a lot of significance off-late, with investments pouring in for residential, commercial, and social infrastructure. Majiwada also has much to offer for those seeking spirituality and nature lovers, with the following being some landmarks.
Its proximity to Nashik, Bhivandi, and Western suburbs helps attract attention towards itself. Serving as the entry point to Thane, many in the corporate, especially the IT sector, prefer Majiwada as one of the top destinations for housing. Whether buying or renting, the locality offers spacious and luxurious flats at affordable prices.
Another facet favouring those considering buying a property in Majiwada is availability. Top realtors such as Rustomjee, Lodha, and Kalpataru have exciting projects in the pipeline, offering 1 BHK, 2 BHK flats, and so on, starting from ₹47+ lakhs onwards, with the average price per sq ft being an estimated ₹12,000+.
Most working-class buyers in Majiwada are high-profile professionals working in multinational companies such as ICICI Bank, HDFC Bank, Citibank, Barclays Bank, KPMG, and Pidilite. With growing cities like Kalyan, Bhivandi, and Vasai-Virar in close vicinity, Majiwada’s real estate would benefit from the employment generation in the surrounding areas.
The commercial capital Mumbai continues to be one of the most expensive cities to find a roof, with the average monthly rent of 1 BHK being approx ₹25,000. However, the development around neighbouring cities and towns like Thane and Navi Mumbai has forced many to uproot themselves, given the real estate benefits, offering maximum space and luxury at better prices, with the monthly rent of a 1 BHK being as low as ₹8,000.
According to reports, Thane metro line 4 will significantly serve the city and its localities, connecting 22 stations along a 29km stretch. Other projects like the Thane-Borivali Tunnel Road and Inland Water Transport System will only help increase the inflow of people, helping the economy.
The presence of educational institutions like TMC school, Ambedkar Institute, and St. Joseph high-school, along with growing medical healthcare with hospitals like Mauli Hospital Bharti, Akruti Fertility Centre, and Currae Healthcare, make Majiwada the perfect destination for families looking to buy properties.
As real estate agents continue to park their money in MMR regions, courtesy of the availability of land and less congestion, investing in a property in Majiwada could be a wise decision in the coming years, with the growing infrastructure in terms of commercial and social.
With corporations planning to set up their operations and warehouses in the Thane district, a boom in employment generation can be expected, ultimately benefiting the real estate sector and improving the overall economy. Hence, this is the best time to invest in a property and reap the benefits later. Though Mumbai continues to dominate the realty market, the past couple of years has shown the potential of its surrounding cities following under the MMR bracket.
As top developers navigate through locations like Majiwada, given the availability of land, families looking for space and comfort, coupled with the growing needs of their children, the above list of properties could serve to be a worthwhile investment.
Vastu is an ancient Indian system of architecture and design that aims to create harmony between humans and nature by balancing the five elements - earth, water, fire, air and space.
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