Mumbai has been forced to build vertically due to a lack of horizontal expansion space. Furthermore, land is becoming limited as most suburbs are inundated with slum rehabilitation and redevelopment projects. As a result, places like Navi Mumbai and Thane have developed properties. Furthermore, Thane`s growth has been aided by the Eastern Express Freeway, which has improved real estate options in the area.
Thane, Mumbai`s neighbouring city, is attracting the interest of wealthy investors. According to a recent assessment by one of the world`s major real estate consultants, Thane is one of the top 20 places in the world where the wealthy are looking to invest. The main reason why investors prefer Thane over Mumbai is that builders raised prices to astronomical levels last year. As a result, Thane became a more cost-effective and value-for-money alternative.
Thane`s real estate market is increasing at the expense of Mumbai`s. The key reason why investors prefer Thane to Mumbai is that capital values in Mumbai have always been rising. Even when it isn`t rising, it is costly due to a lack of available land. The situation deteriorated when banks raised interest rates on house loans and tightened lending standards. This slowed the sale of new units, resulting in fewer new launches. The real estate business in Mumbai has been stalled even more by consents and clearances.
Along with residential properties in Thane, malls have also home to a number of well-known businesses that lease retail space. Another demand driver is the opening of new offices in and around Thane. Overall, Thane is a self-contained area that is well connected to the rest of the city. It offers home buyers the best of both worlds in terms of inexpensive homes and a high-end lifestyle. Thane is a successful real estate market because of its connectivity, infrastructure, lifestyle, influx of office spaces, amenities, and affordable housing.
One of the key elements driving Thane`s real estate sector`s expansion is the abundance of land. The developers have turned massive swaths of land once occupied by abandoned factories and industrial estates into large residential complexes with contemporary facilities.
The city is a Maharashtra free district that caters to manufacturing, small and medium businesses, the information technology industry, the chemical zone, and port-related activities. Residents will have the perfect work life balance with properties in Thane.
Thane used to be considered a major commute, however that is no longer the case. It now offers excellent connections to the Eastern, Western, and Navi Mumbai suburbs. Ghodbunder Road, JVLR, SCLR, Eastern Freeway, NH 8, Mumbai-Nashik Highway, and Thane-Belapur Road are among the highways that connect Thane.
This connectivity is expected to increase in the future, since the metro service will reduce travel time between Thane and Wadala by half. Other planned infrastructure projects include the Thane-Diva Road, the Bhiwandi bypass flyover, the metro-3 project to Kalyan and Mira-Bhayander, and parallel highways from Thane to Kalyan along the metro line.
The issue of providing their children with a good education is a major concern for most families. There are some well-known schools and institutions in Thane that are on par with those in any metropolis. Vasant Vihar School and Smt. Sulochanadevi Singhania School are two among them.
There are hospitals in Thane that have state-of-the-art technology to deal with any medical difficulties, such as Jupiter Hospital and Horizon Hospital.
Thane gives everything and more for all of its citizens in terms of leisure and shopping. Thane has it all, from shopping malls to nightclubs. Eternity, Korum, R-Mall, and the Viviana Mall are among the malls. Clubs like as the Blue Roof Club, Ovala on Ghodbunder Road, The Golden Swan Club in Yeoor, Pokhran, and United-21 offer 4 and 5 star recreational amenities. Furthermore, the majority of Thane`s new complexes provide amenities for inhabitants` entertainment and recreation.
Thane is fittingly dubbed the `city of lakes,` and the city`s well-planned infrastructure includes numerous gardens and green spaces. In reality, the TMC Garden, which is surrounded by Yeoor Hills, as well as the Ovalekar Wadi Butterfly Garden, are both a nature lover`s dream. Many developers recognize the significance of a pollution-free environment and strive to build projects with plenty of open green space and environmentally responsible construction methods.
Thane is the only location where the return on investment has been excellent. Almost all of Thane`s neighbourhoods have seen a 30 percent growth in real estate prices in the last two years. The demand for homes in Thane will only increase as infrastructure improves, connection improves, and job prospects expand, pushing prices even higher.
The project`s prices also had a significant impact on the local real estate market. Thane offers prices that a middle-income section can readily pay when compared to other established locations. Owning a home in Thane is a realistic goal for someone in a management position. In contrast to the major city, where, despite price corrections, purchasing a dream home for a salaried person is nearly impossible.
Land availability, solid connectivity, attractive employment opportunities, and an upcoming metro all assure that investors profit from growth potential. The prices of property in Thane have increased by 6.7 percent in the last 46 months. Schools, stores, and health care services abound in areas like Ghodbunder Road, Majiwada, and Kasarvadavali. Many well-known real estate developers have recently built residences in Thane.
Thane may be a favourite choice among home purchasers if you`re looking to make a purchase. It offers cheap housing options to prospective investors and purchasers, in addition to seamless access to business districts of suburban Mumbai and South Mumbai.
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