Navi Mumbai and Thane have become the top options for those on the lookout to buy an affordable home. It is obvious that one compares both of them in order to come up with the preferred area for investment.
Starting with the infrastructure development and maintenance in both areas, there are many differences. While Thane is a part of the Mumbai Metropolitan Region and has its own municipal body since 1982, Navi Mumbai is taken care by the City and Industrial Development Corporation (CIDCO).
Thane was originally a rural area that witnessed urbanization in the past two decades. At present, it is listed as one of the upcoming smart cities of India for which the town is already undergoing multiple changes.
Thus, it is safe to say that while Navi Mumbai is just picking up on the progress chart, Thane already has a well-woven fabric of malls, shopping complexes, entertainment setups and so on.
Looking at the connectivity aspect, both destinations are well connected through Mumbai's local train network. However, while Navi Mumbai’s local train connectivity is limited to Panvel, areas like Kalyan, Ambernath, and Dombivli have excellent connectivity to the main city. Even the road network from Thane to the Eastern Express Highway is getting better due to various flyovers and underpasses that are being constructed.
The commute has got better at both destinations with the arrival of app-based cab services. The Thane Municipal Transport Bus service currently has a fleet of 506 buses while Navi Mumbai Municipal Transport has 450 buses to ply within the region as well as into Mumbai.
Since Navi Mumbai is a newly developed area, most of the living spaces there are new as compared to Thane. Thane offers cheaper prices for homes in areas like Dombivli, Kalyan, and Ambernath. Out of 2500 projects, 2300 projects in Navi Mumbai are ready to move in. Out of the 1000 projects in Thane, 600 are ready for move in.
The real estate sector in Navi Mumbai has risen consistently due to new infrastructure projects which are in advance stages of completion. Navi Mumbai International Airport, the Trans Harbour Link Road, the Navi Mumbai Metro Rail, and flyovers are some of them. The commercial development here is also pushing property prices as the demand for rental property is picking up.
As for Thane, the property price appreciation has been gradual due to the rising preference of end-users for an urbanized town with city-like amenities. According to data, the real estate values have jumped 7 percent across localities in the last 4 years. There is a high demand in developed areas like Thane West and across affordable areas beyond Thane. The proposed Metro line no. 5 that is set to run from Thane to Bhiwandi and Kalyan would further boost property values in the area being intersected by the route.