Hunting for the right location to purchase a flat/apartment in Mumbai can be a monumental task. While choosing the right house, it is not just about the area but also of the basic amenities, and world-class infrastructure at affordable rates. One can find all three options in the new residential projects in Thane.
What has attracted home buyers to Thane?
• From literally having nothing to now having almost everything, Thane has come a long way
• Thane has land parcels in abundance. One can own plots or build houses
• Most of the new projects are MHADA properties, which are expected to go under redevelopment
• The chawls will convert into towers shortly. This will upgrade the market price
These reasons can soon see Thane overpowering the Mumbai Metropolitan Region (MMR). If you are new to Thane and looking to purchase a flat here, watch out for the following localities:
1) Majiwada: It is one of the oldest locations in Thane. The biggest advantage of investing in properties in this area is its proximity to Eastern Express Highway that drives straight to South Mumbai. Majiwada is also 10 minutes away from the local station. It means, people can travel by local trains and reach the suburban parts of Mumbai easily. Investors will mostly find 2 BHK apartments offered by real estate companies like Rustomjee, Lodha, Sheth Builders, etc. However, the properties are slightly costly than other areas in Thane.
2) Ghodbunder Road: It is the road that connects a ‘Thanekar’ to the suburbs of Mumbai via the Western Express Highway. One can witness massive residential properties on this particular stretch owing to its strategic location. The new projects in Thane Ghodbunder road are affordable, and homebuyers can find 2 BHK to 3 BHK flats here. The rates for rent are anywhere between INR 13,000 to INR 19,000.
3) Vasai East: If Thane offers costlier options, investors can find reasonably priced properties at Vasai East. This semi-urban infrastructural area is also a hub for blue-collar jobs. The locality saw an upsurge when many real estate companies launched their residential projects here. The options that investors can find here are a builder-floor category or slum rehabilitation properties. The size of the flats is anywhere between 1 BHK to 2 BHK.
4) Thane West: It includes areas such as Manpada, Anand Nagar, Azad Nagar, Dhokali, Kasarvadavali, Kolshet, Hiranandani Estate, Kavesar, Waghbil, Kiranmil Colony and so on. These are all up-market neighbourhood that is thronged by world-class malls, hospitals and educational institutes. Most of the high-end real estate companies have new residential projects in Manpada. One such is T Bhimjyani’s Neelkanth Woods.
So, are you all set to invest in a property in Thane?