Why Is There A High Demand For Residential Property in Thane?

Why Is There A High Demand For Residential Property in Thane?

Thane is now considered to be the most preferred location for real estate investment for homebuyers as it is offering more developments and providing a world-class living experience for its residents. Thane is a well-developed and fastest-growing region of greater Mumbai with many factors driving the demand for residential properties in this region. Thane offers a wide range of options for residential properties fulfilling the expectations of homebuyers in various categories like luxury apartments to budgeted homes. Investors are looking up to this region because of the boom in the real estate marketplace to get healthy returns. In the course of the most recent decade, Thane has developed from a small rural town on the edges of Mumbai to a continuously developing city. Beforehand a town with narrow streets and low-rise residential properties, it is today a city with sprawling flyovers, continuous highways, and wide streets. The Thane suburb currently has incorporated townships and tall structure towers, and its commercial real estate sector has advanced to another level. With the property value flooded in all areas in and around Mumbai somewhere in the range of 2010 and 2012, Ghodbunder Road in Thane stood its ground as a favored residential destination for price-sensitive home buyers due to the moderately lower rates when seen against center Thane city. Today, Ghodbunder Road is witnessing huge appreciation, also.

Ghodbunder Road plays a major role in increasing the growth potential of the residential property sector in Thane. Development of shopping malls, renowned schools, and hospitals, entertainment complexes has further influenced the demand of residential properties in Thane. With the overall Thane residential property market in 2011-12 around Rs. 5000 cr, it is additionally being seen that the district is turning out to be increasing ’premium’ with a distinct move being seen away from under Rs. 50 lakh portion to the superior fragment which is as of now around 70% of the market. The exceptional section has multiplied over the most recent two years. The new rising destination in Thane is Ghodbunder Road 2 which holds practically half of new project launches. Over the most recent two years, this region has seen enormous development with a 40% expansion in the number of units sold, which is more than any other area in Thane.

Affordability is another factor that has highlighted the residential property sector in Thane. The demand for premium housing has also witnessed an upsurge in the past few years. Homebuyers who are in search of spacious homes in the affordable budget have found an alternative destination that is Thane.

Ghodbunder Road in Thane is the most preferred destination in this region for both budget homes as well as luxurious properties. Before few years, Thane was nothing but a dense forest with only basic amenities around the city, which is now completely transformed into a realty hotspot for investors as well as homebuyers with great infrastructure.

There are many reasons for why there is a high demand for residential property in Thane.

Connectivity - Thane is centrally located and residents of Thane can enjoy connectivity to Navi Mumbai, suburbs of Mumbai via Ghodbunder Road, Jogeshwari Vikhroli Link Road, Eastern Freeway, Mumbai-Nashik Highway and Thane-Belapur Road. Thane is connected to areas in Gujarat via the Mumbai-Ahmedabad Highway.

Upcoming Infra Projects - From flyover to a cable suspension bridge to arterial roads, a series of Government approved infrastructure projects are lined up for Thane city. These upcoming infrastructure projects will help improve Thane’s connectivity and will make this city an attractive and lively place to live in.

Social Infrastructure - Thane is considered to be a network of many renowned educational institutes, recreational zones, hospitals, gardens that cater to the current residential developments attracting more homebuyers to invest in residential properties in this city. The upcoming Thane-Ghodbunder Freeway, metro rail, and well known multinational companies in Thane are increasing the demand for real estate investment.

Earlier, the narrow roads and hilly regions made it a place for a holiday home. However, townships, flyovers, and highways dominate the place. Ghodbunder Road is developing swiftly with IT parks, company places of work, business institutions, and so forth. It’s far already better developed than Navi Mumbai and improvement is yet to strike through some untouched parcels of land. Homebuyers are advised to invest in a residence in Ghodbunder Road at the earliest as the imminent metro will escalate the realty rates furthermore. Additionally, there are many upcoming new initiatives in the nascent degree in Thane, which promise superlative improvement in the subsequent 5 years.

Property investment is an important decision in everyone’s life. It is all about everyone’s different perspective ensuring that nothing goes wrong while buying a residential property in Thane. It is all about the right time, the right place, getting higher returns, paying the right amount, and so on. Thane has in recent years proved to be the right real estate hub to invest in. Over the years, residential as well as commercial properties in Thane have gained in many terms like capital appreciation and rental income. Thane is the perfect place to buy residential properties where you will get options from economical 1 BHK flats to luxury apartments to duplexes and penthouses. Be rest assured nobody will return disappointed when it comes to this city.