A thriving economy and excellent connectivity have become the growth drivers for the real estate market in Thane. Thane fulfills the expectations of a wide range of customers when it comes to residential properties. Investors are particularly keen about this area due to healthy returns.
Thane offers smaller but affordable homes to an array of buyers. It has become popular for its affordable segment of homes which cost less than Rs 50 lakhs. According to a survey between January and March this year, 11,980 apartments were sold, compared to 10,997 in the last three months of 2017. The sales and new launches in Mumbai, however, have dipped.
Affordability may be the theme for Thane but lately, the demand for premium residential properties have also picked up in Thane.
It is not only the residential market but also the commercial market which is witnessing the boom. Many leading IT companies have shifted their base to this city and thus resulting in an alternative spacious home destination for homebuyers looking for homes in Mumbai.
Thane has excellent connectivity. It is linked to Mumbai via the Eastern Express Highway and the Eastern Freeway; to Navi Mumbai via the Thane-Belapur Road; to central and western suburbs via Ghodbunder Road and to areas in Gujarat via the Mumbai-Ahmedabad Highway. A proposed 32-kilometre Metro link from Wadala to Kasarvadavali will further ease the commuting experience for the Thane residents. Excellent connectivity is provided by the Central and the Trans-Harbour Line Suburban railway network.
Thane has many scenic lakes, temples and the Sanjay Gandhi National Park. It has good social infrastructure like reputed schools, hypermarkets, hospitals, shopping malls, bank branches and ATMs, ample entertainment options.
Thane is listed in the Smart Cities mission and has many planned developments underway. The Thane Municipal Corporation (TMC) has launched a mobile application, "Digi Thane", through which citizens can easily access the services of the TMC. Tel Aviv is providing technical assistance for Thane as an emerging smart city. The city’s future is bright as a sun and it is sure to provide a world-class living experience to its residents.