Why should you invest in Thane ?
  •  Nov 29, 2019
  •  Shweta Yadav

Thane is an emerging megapolis and one of the major cities in the Mumbai Metropolitan Region (MMR). The real estate market in Thane witnessed paradigm shift in the past two decades owing to infrastructural development and establishment of many MNCs, IT/ITes and Tech giants. With the excellent connectivity quotient, recent infrastructural developments, relatively low property rates and establishment of some major business hubs, Thane managed to shed the identity of Mumbai's cousin and has gained a well profound name of its own. It has evolved into the most promising real estate market in MMR.

Certain core areas in Thane have been key determinants in its emergence as a realty hotspot. Majiwada is one of them. It is one of the top real estate destinations in Thane primarily due to its well-laid-out infrastructure, seamless connectivity to key micro-markets of central suburbs via Eastern Express highway, Excellent accessibility to commercial development of Thane-Belapur Road, Waghle estate and Ghodbunder Road and proposed metro line 4 (Wadala-Kasarvadvali) which has a station planned at Majiwada. When it comes to the residential property market, it has been observed that 2 BHK in Thane, Majiwada has been the most predominant unit constituting 56% of overall supply.

Thane has not just been bestowed with good infrastructure and social amenities but its strategic location has also provided it with picturesque natural views and destinations which provide a good escape from the hustle and bustle of city life. It is surrounded by Parsik hills and Yeour hills which have always been the most sought after destination by the hikers and rock climbers. Circumscribed by the Sanjay Gandhi National Park on one side, Thane boasts of the presence of around 35 lakes covering approx. 40 hectares of land parcel. With this unique blend of nature and modern comforts of city life which make Thane stand apart from other areas in MMR, any residential property in Thane is capable of garnering interests of both investors and end-users.

Thane has been shortlisted under Smart City Mission, a flagship scheme launched by the Government of India in 2015. The cities shortlisted will be upgraded based on an area redevelopment plan by Union ministry of urban development in collaboration with the state government. Various iconic projects have been announced under this flagship scheme.

  • Metro rail from Teen Haath Naka to Kasarvadavali sanctioned under phase II of Mumbai metro
  • TCS has set up its largest office in Thane with a capacity of 30,000 employees spanning an area of 3 million sq.ft (completed project)
  • 113 Ha plot to be allotted to reputed educational institutes for setting up campuses that impart higher education.
  • land being allotted to two renowned medical institutions- Tata Cancer Hospital & Shankar Netralaya
  • Proposed Central Park (35 acres) & Northern park (22 acres)

Apart from the Smart City Mission, Thane will be receiving funds to establish the infrastructure that could ensure adequate robust sewage networks and water supply for urban transformation by implementing urban revival projects under AMRUT Scheme (Atal Mission for Rejuvenation and Urban Transformation). Also, TMC is planning to decongest Thane by implementing Cluster Redevelopment Plan by redeveloping the old city and improving physical and social infrastructure on a massive scale which will transform the socio-economic fabric of the people in Thane.
All these developmental plans and iconic projects in the pipeline are going to provide a fillip to the Real Estate Market ensuring strong capital appreciation, high rentals, and lucrative ROIs. Keeping all these things in perspective, Thane seems to be a promising location if you want to buy a property in Thane.