Reasons Why Property Prices Are Booming in Thane

Reasons Why Property Prices Are Booming in Thane

Property prices in major metropolitan cities are rising and have seen much appreciation in the past few years. With the real estate market turning out to be in the positive end with new housing projects development and capping on the supply side, prices are expected to increase in the future. The ever increasing prices of flats in Mumbai which has become a major issue nowadays as Mumbai being the financial capital and the only city which offers opportunities to billions of people for many decades. According to the reports, if you see the recent housing market slowdown where homebuyers are not ready to buy new properties in Mumbai due to skyrocketing prices, homebuyers are now looking out for properties around cities in Mumbai like Thane.

Thane, the uptown suburb area of Mumbai has been witnessing wide-scale land improvement in the course of recent years. Because of the effectively clogged Mumbai city, individuals are compelled to move to cities around Mumbai for affordable homes. It’s an obvious fact that rental in proper Mumbai is the highest in India. As a characteristic result, numerous workplaces have relocated to suburbia also to get a good deal on the lease. Because of its amazing connectivity to Navi Mumbai, western and eastern rural areas of Mumbai, Thane has known to be a kind of a satellite city to Mumbai outfitted with everything that is required to make the life of an individual simple. Prior imagined as a poorer sibling of Mumbai, Thane has made considerable progress and has set up itself as an appealing town facilitating private structures, office spaces, shopping centers, multiplexes, schools, medical clinics and everything that you have to carry on with an agreeable life.

Major businesses have shifted their offices in Thane due to a shortage of space in Mumbai and high rental prices. This is giving rise to investments in commercial properties in Thane. Residential projects in Thane are also on the rise in areas such as Ghodbunder Road, Ambernath, and Kalyan as more buyers are preferring Thane as their next real estate investment destination which is in close proximity to their workplace. Thane brags of a cosmopolitan culture. It has great quality educational institutions, medical clinics, cafés and shopping centers which is leading to the real estate boom in the city. It isn’t all solid. There are many amusement parks, gardens, and riverside promenades. Thane is popularly known as the city of lakes. Some of the well-known recreational places around Thane West incorporate Sanjay Gandhi Park, Upvan Lake, Kanheri Caves, Masunda Lake, Kelwa seashore, and so on. Thane east has various attractions too like the Upvan Lake, Talao Pali, and the popular Kapileshwar Temple.

Infrastructure wise, Thane is incredibly very much developed these days. It has sufficient public transport options and wide multi-path roadways for easy connectivity with Mumbai. NH3 and NH4 highway, Ghodbunder Road, Eastern Freeway, NH 8, Mumbai Nashik Highway, SCLR, JVLR, and the Thane Belapur street add to the fantastic network of Thane. The closeness to Mumbai-Pune road represents an extraordinary alternative for the end of the week excursions. The Central Line, the Trans-Harbor line and the Thane-Panvel rail line associate Thane to the celebrated Mumbai railway network. The airport is around 27 kilometers away. The real estate market in Thane is going through a trend of affordable housing. There are many luxury residential projects being launched at affordable rates.

One of the most popular areas in Thane is Ghodbunder Road where the property prices are increasing day by day. Homebuyers are preferring to invest in Ghodbunder Road due to its proximity to nature. There are various infrastructure plans proposed by the Government in this region. Another biggest reason as to why people are migrating to this region is the employment opportunities. This is the reason why rental rates are also increasing in this region. Many investors are buying their second home here and then they put their property on rent. This helps them with tax relief in the form of interest on home loans as well as give them some additional returns.

The future looks amazingly brilliant for Thane. The Government has extraordinary designs to build up the township further. There are plans to build up a metro line with in excess of 10 ends inside the town itself. This will lessen the travel time among Thane and Mumbai as it were. There are a few different designs to expand the network of Thane like another metro venture from Kalyan and Mira to Bhayandar, a flyover at Bhiwandi sidestep, equal streets from Thane and Kalyan and a Thane-Diva Road. The Government has many plans for the betterment of the town.