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Why Should You Buy a Property in Majiwada

Author
Blox Social
Posted on
Feb 19, 2023
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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.

  • St. John Baptist Church
  • Kalibari Temple
  • Upvan Lake
  • Ovalekar Wadi Butterfly Garden
  • Vasai Fort

We have listed below factors that would accelerate your decision to buy a property in Majiwada. 

1. Growing demand

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. 

2. Housing options available

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+.  

3. Demography of Buyers

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.

4. Renting benefit

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. 

5. Growing connectivity and future projects

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.

6. Evolving social infrastructure

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.

For those looking to buy a property in Majiwada, here is a list of projects worth your money.

1. Piramal Vaikunth

  • Offering 1,2,3,4 BHK apartments
  • Price range:  ₹ 89 L- ₹ 2.7 Cr
  • Estimated completion date: December 2024

2. Rustomjee Urbania

  • Offering 2,3 BHK apartments 
  • Price range:  ₹1.05 Cr- 2.1 Cr
  • Estimated completion date: March 2024

3. Ashar Pulse

  • Offering 1,2 BHK
  • Price range:  ₹65 L- ₹1.36 Cr
  • Estimated completion date: December 2028

4. Sheth Vasant Lawns

  • Offering 2,3 BHK
  • Price range:  ₹1.8 - ₹2.65 Cr
  • Estimated completion date: December 2023

5. Crown Thane Lodha Quality Homes

  • Offering 1,2 BHK
  • Price range:  ₹51 L - ₹1.03 Cr
  • Estimated completion date: March 2024

6. Cosmos Habitat

  • Offering 1,2 BHK
  • Price range: ₹70.66 L - ₹1.28 Cr
  • Ready to launch

7. Sheth Avalon

  • Offering 3,4, and 5 BHKs
  • Price range: ₹3.62 Cr - ₹7.43 Cr
  • Estimated completion date: December 2025

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. 

Real Estate