Robust Development Assures Stable Growth
Ghodbunder Road is offering a wide choice in residential development to home-buyers across various spectrum, says C&W
Now, most industrial buildings have made way for high-rises in Thane. It has become well-developed, and represents a city in itself with its own distinct character and economic drivers, including large businesses that have given a leg-up to the demand for residential properties. The area has emerged as a preferred residential location with various residential developments along the Ghodbunder Road stretch.
The rapid growth in the residential development is a result of easy connectivity to Mumbai, which is a global commercial hub.
Thane is one of the fastest developing areas and offers all the incentives that a Mumbai citizen could dream of. Over the years, development in infrastructure, retail, business and much more has led to the growth of the city. With shortage of space in the Mumbai Metropolitan Region (MMR), Thane is developing at a quite fast pace.
Thane, on an overall basis, has grown to be more than an extended suburb of Mumbai due to proximity to job centres catering to both manufacturing and service sector jobs, growth of social and retail infrastructure given the increased concentration of housing projects in the specific residential
pockets and evolution of an residential community for the households where it has become a sought-after destination to dwell.
Infrastructure facilities have improved in the past few years with the construction of SATIS (Station Area Traffic Improvement Scheme) and multiple flyovers being constructed on Ghodbunder Road. The three flyovers and another one coming up along Thane will help ease the overall vehicular traffic.
Thane is well connected to the eastern suburbs by the Eastern Express Highway (EEH) and to the western suburbs. The city also has connectivity to Navi Mumbai by both trains and roads. With the huge growth in population in the city, the Thane Municipal Corporation (TMC) has also taken steps to improve the overall infrastructure giving a boost to the quality of living in the city.
Being a central hub between Mumbai, Navi Mumbai and Kalyan-Dombivali; Thane is connected by three major highways, including NH3, NH4 and Eastern and Western Express Highway (WEH). It is being equipped with superior infrastructure such as subways, flyovers that will boost the infrastructure of Thane.
The metro project undertaken by the planning body Mumbai Metropolitan Region Developing Authority (MMRDA) aims to connect Ghatkopar to Ghodbunder Road and then Dahisar, will also improve connectivity between Thane and the western suburbs. The MMRDA's ambitious monorail project, which will connect Thane Bhiwandi-Kalyan, had been given the green signal.
With the recent development seen in the area and advantageous connectivity to Mumbai and other parts, Thane has become an ideal residential destination.
The infrastructure of Thane is encouraging commercial and residential development.
Commercial Development Butttresses Residential Growth
Significanlty, quite a few experts also believe that it is also the manufacturing sector and commercial in general, especially along Godhbunder Road, which is playing a major role in keeping the residential property sector lively.
Many state-of-the-art commercial complexes, especially IT companies, are also coming up here. Industrial areas like Wagle Estate where some of the biggest national and international BPOsKPOs moving their operations into newly-launched ITITeS parks.
Considering the city's potential, many entrepreneurs are shifting to Thane that is creating more employment opportunities within the city, so that people don't need to commute other places, promoting the `walkto-work' culture.
Not Just Another Option
Proximity to commercial districts and availability of land has led to many developers launching modern residential complexes. Overall from being a mid-income market, Thane has now moved to the mid to high income market with prices in some areas being comparable some of the high growth areas in Mumbai.
The luxurious lifestyle, the connectivity, the infrastructure and its affordability are the various factors due to which homebuyers across the spectrum have chosen Thane as their favoured residential destination. With the growing real estate and infrastructure development in Thane, the city always has something to offer to all the segments of the homebuyer's right from budget homes to midrange homes to high-end luxury homes to suit the needs of the varied segments.
Developers responded quickly to the increasing demand by launching more and more projects in the city. Today, the developer representation in Thane is quite impressive, point out realty experts.
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