Thane is one of the emerging cities in the country due to its development and infrastructure facilities, along thane is among the cities that fall under the list of the smart city so the government of India is also providing attention towards Thane’s real estate market as they are experiencing high potential in the city
Thane is the third-largest city of Maharashtra after Mumbai and Pune and is also the fastest-growing city in the country. Situated in the neighborhood of Mumbai Thane has become enchanting and inspiring for home buyers as well as the commercial sector. The city has become a corporate hub due to its infrastructure and availability of all facilities at cheap rates as compared to Mumbai city.
Gone are those day when thane was called as satellite city.In 2021 Thane city is blessed with one of the countries blessed road connectivity to nearby city and specially to mumbai. Here’s looking at some of the top connectivity advantages in Thane:
- National highways 3 and 4 connect West Thane to other parts of Mumbai.
- The future of Thane City looks bright with the introduction of metro services in the pipeline and it will cut traveling time between Wadala and Thane by almost half.
- Thane-Dive Road and Bhiwandi Bypass flyover will be major infrastructural game-changers for Thane.
- The metro-3 projects to Kalyan and Mira-Bhayander areas will boost connectivity for residents as well.
- There will be parallel roads built near metro corridors between Kalyan and Thane.
Thane’s Gamechanger Metro line 4
Thane is one of the fastest-growing real estate markets in Mumbai and the property market here may get a huge impetus with a major connectivity announcement. The Maharashtra State Cabinet has officially cleared the proposal for setting up a metro line of 29 kilometers for Thane.
This will be executed by Maha Metro on the behalf of the Thane Municipal Corporation according to reports. The Chief Minister’s Office has reportedly issued its statement that this project will require four years to be finished while the entire cost is expected to be roughly around Rs. 13,095 crore as per reports.
Details of Thane metro
The Thane Metro network will revolutionize connectivity in the city upon its completion and will certainly boost commercial and residential development alike here.
The real estate market is expected to witness greater demand for residential and commercial units located near or along the metro route that has been finalized for development. This announcement should also bring in more real estate developers to this belt for premium project development.
Thane’s real estate market after metro announcement.
Of course, with the announcement of metro projects in thane. Thane’s real estate market will be benefited greatly. Thane is coming up as a great blessing for real estate investors and property finders as they get a good product with great prices with great locality and connectivity.
Due to metro line 4 demand for commercial property in thane has also rises rapidly.
Thane’s real estate market- should you invest?
Of course, with the announcement of this major metro project, the Thane real estate market is poised to benefit greatly. Already, Thane is coming up as a key market for real estate investments with several prime projects being developed in the city. There are premium projects in Thane West which is one of the hottest realty hubs in the city at the moment.
Some of these include the likes of Lodha Amara, Rustomjee Urbania Azziano L Wing and Piramal Vaikunth Virat among others. There are several residential projects that are coming up along stretches like the Ghodbunder Road which is a major connectivity lifeline and other parts of Thane in recent times.
The metro project will transform connectivity, lower traveling time, and increase real estate values along the entire route and near it as per expectations of industry watchers. This could be a shot in the arm for the real estate market in Thane, considering the fact that GST rates have just been cut by the Government on affordable housing units and under-construction properties alike while the Union Budget 2019-20 has proposed a slew of measures designed to boost the housing sector in the country.
Thane is witnessing sizable demand for 1 BHK and 2 BHK apartments and even studio apartments in the luxury and premium segments along with mid-range categories. Affordable housing ventures may also gain some momentum this year on the outskirts as per experts.
Thane is already becoming the preferred location for several leading banking and financial services companies and IT and ITeS biggies who are making the shift here from Mumbai along with several other corporates and MNCs.
This will naturally lead to commercial real estate growth in leaps and bounds over the next few years while it will rub off positively on the residential housing segment as well. Thane is comparatively affordable as compared to Mumbai which is one of the costliest housing markets in the country and is well linked to the eastern and western suburbs of Mumbai and also Navi Mumbai.