The crème de la crème of Mumbai, have, for decades purchased land in uber-rich areas of Mumbai like Cuffe Parade, Hill Road and Juhu. But in the last five years or so, the often under-rated area of Thane, has become a hot property. In fact, according to a report, Thane has become one of the top 20 cities in the world in which the affluent are investing their wealth. Real estate developers in Thane are being sought by investors who are convinced that Thane is the new face of Mumbai. So what has caused Thane to become a Mumbai hot-spot?
Thane as an IT hub: Most information technology companies in the urban areas of Mumbai have shifted base to Thane, giving it the reputation of an emerging technology and service industry hub. The reason for this is simple; the rents in Thane are lower and the properties, larger in size. Companies prefer to pay a rent for a bigger working space as opposed to smaller spaces in the posh areas of the city.
Superior quality infrastructure: Purchasing 1, 2 or 3 bhk flats in Thane areas like Ghorbunder Road, Manpada, Kasarvadavali and Majiwada give you access to good national and international schools. There are also good healthcare facilities available on demand, as well as premium malls. Besides these, travelling in and out of Thane has also become convenient, thanks to the local transport network and well-designed bus routes.
Industries and factories have closed down: Thane was once known for its industrial units and factories. It has now paved the way for premium real estate projects. With the closing of these industrial units and factories, the stench emitted from the factories and the air-pollution is no longer a nuisance. In fact, if you purchase a property for sale in Thane, you are looking at living in an area with wonderful lakes and gardens.
Lower prices make properties desirable: Unlike those posh areas of Bandra, Colaba, Nepean Sea Road or Juhu, purchasing flats in Thane, is so much more economic. The lower price factor, coupled with all the modern amenities in place, makes purchasing a flat in Thane, a worth-while investment. Purchasing a property here does not hamper your bank balance, as compared to the posh areas where you must pay excessive amounts. Thane is truly a great alternative for property investment.
The emergence of the real estate industry: With Thane emerging as one of the better areas in Mumbai to live in, several high-profile real estate developers in Thane and Mumbai, such as Hiranandani Constructions, Godrej Properties, T Bhimjyani Realty, Runwal Builders, Piramal Realty and Rustomjee builders have started projects in the city. In Manpada and Ghorbunder, Neelkanth Woods Thane by T Bhimjyani Realty has become a premier property to consider.