MUMBAI: Thane, also known as the lake city, is one of the major urban conglomerations of the Mumbai Metropolitan Region (MMR) and is well connected to all parts of the country by rail and road.
Thane’s proximity to the commercial capital, Mumbai and its location at the geographical center of the MMR, has given tremendous impetus to the growth of industries in and around Thane. This district is surrounded by scenic hills. Thane is connected by three major highways, namely, NH3, NH4 and the Eastern Express Highway. It is 45 minutes away from the Bandra Kurla Complex, 50 minutes from the international airport and 30 minutes away from Powai. The developed infrastructure makes it an attractive location for both, residential and commercial development.
“Thane has large layouts and open spaces and is the fastest growing city in the MMR”, says Abhishek Kapoor, Vice President, Rustomjee Group. According to him, most people nowadays, prefer to live in large integrated townships, with everything from work to school at a stone’s throw distance. Thane has emerged as a hot property destination for investors and end users, with upcoming locations like Ghodbunder Road, Badlapur, Kalwa, Dombivali, Dombivali east, Kalyan and Kalyan west.
Vasant Vihar and Thane west lead in capital values, at an average of Rs 10,525 and Rs 9,475 per sq ft respectively. They are followed by Ghodbunder Road (Rs 7,770 per sq ft), Kalwa (Rs 6,850 per sq ft) and Dombivali east (Rs 5,175 per sq ft). Thane west also tops in yield at 2.79 per cent, followed by Vasant Vihar (2.45 per cent), Ghodbunder Road (2.34 per cent), Dombivali east (2.32 per cent) and Kalyan (2.27 per cent). In the demand segment, one-BHK tops the chart at 55 per cent, followed by two-BHK at 35 per cent and three-BHK at nine per cent. However, supply of one-BHK trails demand at 39 per cent. Supply for both, two and three-BHK exceeds demand at 44 per cent and 15 per cent, respectively.
Joy Sanyal, Head (Development Initiatives) at JLL says, “It is both safe and profitable to buy property in Mumbai’s suburban locations, particularly Thane and Navi Mumbai.”