MUMBAI: Thane was earlier considered as an extended suburb of Mumbai. Now, it has evolved into a self-sustained city in itself. The high levels of demand for housing in Thane have also necessitated vertical development, since Thane will be witnessing serious real estate growth in the coming years.
Thane is amongst the best places to invest, as it can offer significant appreciation in the coming years owing to its strategic location and growth potential. The local economy and business dynamics over the last five years have changed considerably. The city has undergone a complete makeover, from an industrial hub to a well-developed city in itself with good connectivity and great social and physical infrastructure facilities.
Today, Thane has emerged as a satellite town to Mumbai, similar to what Gurgaon and Noida are to Delhi. IT/ITES corporates are choosing Thane as the next destination to set up base after Pune. Moreover, with the emergence of new business districts in Powai, Vikhroli and Vashi, Thane has become a destination of choice for homebuyers.
According to Percy S Chowdhry, director, Rustomjee, cost advantage is the main cause of the rise in demand for Thane, which is coupled with good infrastructure and good connectivity by rail and road to other locations of Mumbai. “The price range starts from Rs 6,000 per sq ft and levels off at around Rs 18,000. Many luxury products are currently being offered in Thane and demand in both, the budget and luxury segments is robust,” informs Om Ahuja, CEO – residential services, Jones Lang LaSalle India.
In the centre of the Thane city on the eastern express highway, Rustomjee has created and developed Urbania, an integrated township which consists of residential, commercial, retail and entertainment in the same vicinity. Falling under the budget category of Rs 80 lakhs-1.5 crores, the township has amenities for all, from kids to senior citizens. “Additionally, the buildings have been designed and certified with IGBC Gold rating to meet energy efficient standards prescribed by IGBC Green Homes,” states Chowdhry.
On similar lines, falling under the budget category of Rs 80 lakhs-1.5 crores, ACME Group’s ACME Ozone – the oxy-fresh homes, is a residential development at Manpada in Thane. “It is an eco-friendly abode, which features top-of-the-line features and best-in-class conservation techniques. The project is a perfect blend of modern and well-designed homes and the location is easily accessible from Pokhran Road No 2 and Ghodbunder Road. The Thane railway station is at a convenient distance of only 5 kilometres. The area is well-connected with wide roads and has multiple transportation options with excellent social facilities in close proximity,” informs Roshan Wadhwani, marketing manager, ACME Group.
Unlike Mumbai, Thane as a city has been developed on the hub and spoke model. Every residential development in Thane is supported with the required social infrastructure. Today, the city boasts of numerous schools, hospitals, malls, multiplexes, etc., at par with international standards and well spread across the city. All the facilities are well-connected by road through multiple public transport system. The plans for the ring route and metro rail will further improve connectivity in this city. Along with options of luxurious housing and mid-budget housing, Thane offers a lot of open spaces, providing peace and tranquility to residents.