It could be the teeming population ora marked degree of urbanisation or increasing living expenses – whatever the reason, the older residential localities of Mumbai are certainly not great destinations for property investment any more. Not only are the property prices in these neighbourhoods are exceptionally steep, lately the return on investment is also not very great, thus making them saturated. Prospective home owners in and around Mumbai are now looking at high-growth sub-markets as lucrative destinations to buy their homes and apartments, to make a wise property investment. Thane is the one suburb that emerges at the top of this list of newly preferred property destinations.
The transformation of Thane from a nondescript suburbia to one of Maharashtra’s fastest growing cities is a phenomenal one. Traditionally, Mumbai’s growth and employment opportunities have been at the very centre of Thane’s development. Lack of affordable housing and steep realty prices in Mumbai have made Thane the best choice for people to live in and commute to Mumbai. The highly developed rail connectivitymake for developments that could bring in both connectivity and convenience. Add to this, the fact that work on Line 4 Mumbai Metro (Wadala – Mumbai to Kasarvadavali – Ghodbunder Road, Thane) is already on. This by itself makes Thane a very attractive option for homebuyers.
The spate of infrastructural development in Thane has led more and more corporates and commercial establishments to shift into Thane. What this means is that if you own a 2 BHK flat in Thane West, you will find access to schools, hospitals, malls, and convenience stores within minutes.
Thane for real estate investors
Such phenomenal growth and development have made Thane the hotspot for real estate investment. Reputed developers have launched great projects in this city. These offer world-class facilities and eco-friendly homes. The appreciation in value of properties in Thane is quick and makes for great ROI. In the last one year, Thane alone accounted for about 18 percent of the newly launched housing projects in the MMR.
Top property investment destinations in Thane
Wagle Estate – The Wagle Estate industrial area of Thane was established back in the 1960s. What was back then primarily a neighbourhood full of factories is now a sprawling residential area with a number of upcoming housing projects. Its proximity to parks, restaurants, and facilities makes it a rather attractive option.
Kapurbawadi–If you are looking to own luxury flats in Thane, Kapurbawadi is the place to be. The spectacular housing facilities that have come up over the past few years have made great use of Thane’s natural bounty and most of the properties here are smart, eco-friendly homes.
Ghodbunder Road – Ghodbunder Road or GB Road is the main arterial road that runs through Thane. It is the main road link between Thane and West Mumbai and is undoubtedly the best place to live in the city. The entire stretch of the road is now peppered with skyrises, malls, entertainment centres and shopping facilities.
Majiwada – Majiwada in Thane West is the next destination you must consider if you’re looking to buy property in Thane. It is a calm and peaceful residential locality with a number of restaurants, shops, banks, and facilities.