Thane’s locational advantage, good infrastructure, and lower real estate prices than Mumbai make it an attractive option for homebuyers as well as investors.
Mumbai, the financial capital of India, is known for its tall buildings, malls and beaches, but suburbs like Thane have their own charm.
Thane has emerged as a bustling metropolis of skyscrapers, offering world-class living options with superior social infrastructure, good physical infrastructure, and smooth connectivity in the Mumbai Metropolitan Region (MMR).
Thane boasts of rich cultural heritage and historical importance dating back more than 2,000 years.
The Sanjay Gandhi National Park and about three dozen lakes spread over 40 hectares make this micro-market a hotspot not only for homebuyers but also for investors.
This micro-market is also becoming a favourite locality for professionals. Once known as an industrial centre in MMR, Thane is now becoming the city of high-rises.
Spread over roughly 128 sq. km, this city of lakes, is a lucrative destination for homebuyers and investors also because of its locational advantage, good infrastructure, and lower real estate prices than Mumbai. Property experts claim the rentals to be good in the area.
On the other hand, what attracts builders to Thane is large land parcels. Many of them have or are in the process of developing mixed-use townships promising holistic living.
Thane is situated between the industrial zones in the Kalyan-Dombivali-Bhivandi belt and the commercial and business hubs in Mumbai and Navi Mumbai. A large number of businesses, including in the IT and media sectors, are setting up operations in the area, thus creating job opportunities.
Existing and upcoming real estate projects are well connected with major transport facilities. For instance, Thane Railway Station is about 5.8 km or 22 minutes’ drive from Kalpataru Park City. The international airport is about 50 km from Lodha Splendora, Thane.
Market experts are of the view that Thane is fast becoming a self-sustaining, modern, and livable locality in the Mumbai region.
Thane is well connected with rest of the Mumbai through a series of flyovers, central and harbor lines of the suburban rail, and excellent roads. Thane has excellent connectivity to the Central Railway (Thane) and the Western Railway (Mira Road) as well as to the Eastern and Western Express Highways.
Multiple new metro rail lines, two more lines on Central Railway between Thane and Diva, the new waterway from Kalyan to Western Suburbs via Thane, proposed stoppage of Mumbai Ahmedabad High-Speed Railway, and proposed Personal Rapid Transport System (PRTS) using small pod cars, are some of the new means of connectivity to and from Thane.
As per reports, the under-construction 32 km Wadala–Ghatkopar-Mulund–Teen Hath Naka- Kasarvadavali (Line 4 of Mumbai Metro) is expected to start operations from March 2022. This line will further boost the connectivity of the area with the MMR.
Kolshet Road, Balkum, and Ghodbuner Road are good from an infrastructure, connectivity, and future development point of view. Kolshet is at the centre of Thane’s hyper-connected future, with multiple metro lines, a water transport jetty, and Thane’s first multi-mobility transportation hub. It aims to seamlessly integrate metro, road, rail, and water transport.
Mixed-Use Township developments combining residential, lifestyle, and commercial facilities in Kolshet Road and Balkum by prominent developers are enabling walk-to-work and holistic world-class living.
Educational institutes of repute, good healthcare facilities, shopping centres, malls, entertainment hubs, and all other facilities, one wishes for before buying an apartment are present here already.
Thane’s green cover and open spaces comprising parks, gardens, lakes, creeks, and forest zones, are the biggest advantage this micro-market offers to the residents. The Sanjay Gandhi National Park, spread over 103 sq.km., in the neighbourhood is a blessing.
There are ample sports facilities as well as amusement parks in close proximity to this micro-market.
Thane is also part of the ambitious ‘Smart City Mission’.
top builders and property prices
Hiranandani, Kalpataru, SHK Developers LLP, Ashar Group, GPS Group, Crystal Builders, Shreeyash Construction, Rajhans Group of Constructions, Relation Realty, Lodha Group, and Sambhav Group are some of the top developers active in the area
The realtors are offering different types of units, ranging from 1BHK to luxury properties. Prices are as per the property and location.
Just to give an idea, Lodha Group is offering 1,2,3 BHK units at Amara, Kolshet Road. Prices start from Rs73.5 lakh. The group has also launched 3-bed residences with grand balconies; prices start at Rs 1.7 crore. The developer has several projects, like Lodha Sterling (2,3,4 BHK; price: Rs 1.49 crore-plus), Lodha Splendora (2,3 BHK; price: Rs 1 crore-plus), and Casa Aurora (3 BHK; price: Rs 87 lakh-plus).
Kalpataru is developing a 100-plus acre integrated township, Kalpataru Park City on Kolshet Road in the city. The township features residential projects, commercial establishments, a high street with premium retail outlets, multiple dining and entertainment options, themed landscaped areas, and world-class amenities. It is also developing a luxury residential complex, Kalpataru Paramount, over 6 acres on the arterial Balkum Road.
1, 2, 2.5, 3 BHK, and a host of other units, like Studio apartments, can be bought at projects by Hiranandani in Thane. A ready studio apartment is available for around Rs 53 lakh at Solitaire – C, Hiranandani Estate, Thane. Lake view homes, too, are available. (Prices have been sourced from the websites of the developers.)
Total sales of housing units in the Thane district (primary + secondary) stood at 76,715 during January-August 2021, as per a joint report by CREDAI-MCHI and CRE Matrix. The Covid-19 pandemic hit sales; in 2020, 69,434 units were sold, compared with 94,157 units in 2019.
The total area of housing units sold in the Thane district stood at 407 lakh sq. ft during January-August 2021. This compares with 366 lakh sq. ft in 2020 and 482 lakh sq. ft in 2019, according to the report.
The report further said that Thane district has witnessed an upward trend in housing prices over the last five years. The area is also witnessing sales of higher ticket size units compared with sales in the last five years.
According to the report, units under Rs 45 lakh comprised the lion’s share, sales were fairly evenly distributed between other the budgets of Rs 45-70 lakh, Rs 70-100 lakh, and Rs 1-2 crore.
As per a report by a leading property consultant, rental values in Thane in the third quarter of 2021 were Rs 14,000-Rs 28,000 per month. The rental values remained unchanged on a yearly as well as a sequential basis (quarter-on-quarter).
In a nutshell, Thane promises to meet the requirements of a modern lifestyle for all segments—middle-class, high-salary earning professionals, business people, NRIs, and HNIs. The ball is in your court. If Thane suits you and your pocket allows, go for it.