Reasons You Should Invest in New Projects In Thane
The last decade has seen a significant interest in homebuyers who are gravitating towards investing in new projects in Thane. It is no longer the final choice for purchasers on a tight budget looking for a home. Thane’s expansion in the real estate market has resulted from the enhancement of its infrastructure and facilities.
Here are some reasons why Thane is emerging as the new real estate hub:
Availability of vast lands
Gone are the days when Thane was only considered a place for factories and industries. In the past, many investors ignored the possibilities of this place, thinking that they wouldn’t receive a good return on investment. However, now the scenario in Thane has changed to a great extent. Factories are gradually closing while industries are shutting down their operations too.
Therefore, developer companies like Lodha Group, Piramal Realty, and T Bhimjyani Realty are purchasing land to begin the construction of new projects in Thane.
Amazing connectivity
Thane has adequate connectivity to Navi Mumbai and the western and eastern Mumbai suburbs through Ghodbunder Road, Eastern Freeway, NH 8, Mumbai-Nashik Highway, and the Thane-Belapur Road. Thane also links to Mumbai’s railway network via the Central Railways, Central Harbour Rail Line, and Thane-Panvel Rail Line.
Forthcoming new projects in Thane include the Thane Metro, which is a light rail transit project. It will have 22 stations in the 29 Km route and link to lines 4 and 5 of the Mumbai Metro. The introduction of this metro line is expected to reduce the travel time between Thane and Wadala by half. Other future real estate plans include the construction of the Bhiwandi Bypass flyover, Thane-Diva Road, and parallel roads between Thane and Kalyan along the metro line.
Better employment opportunities
Thane is emerging as one of the prime locations in Mumbai that is seeing an upsurge in the number of new offices. Thane seems like an attractive place for conducting business operations for most companies due to the significantly low rents for relatively bigger spaces. That, in turn, has led to a rise in employment opportunities in Thane, particularly for local job seekers.
The multinational giant, Tata consultancy services, has leased two million square feet in Thane, which will result in more employment for qualified and skilled people. Many other IT companies are expected to build their offices in Thane in the future.
Active commercial hub
With the development of many IT parks, business zones, and shopping complexes, new projects in Thane are capitalizing on commercial growth and increased employment opportunities. Besides these factors, the ongoing infrastructure improvements like widening roads, cluster policy, TDR policy, and other Government policies have spurred the development of new real estate projects.
Top business parks in Thane include Lotus Park, Thane One Corporate Business Park, Sunrise Business Park, and Reliable Tech Park. One of the most sought-after residential cum commercial hubs in Thane is the Thane-Ghodbunder road area. Investors eye the Kolshet Road area as well.
Health and education facilities
Thane offers superior healthcare and is home to renowned educational institutions like Rustomjee Cambridge International School, Vasant Vihar School, Bedekar Institute of Management, etc.
Famous hospitals in Thane include the Hiranandani Hospital, Horizon Hospital, and Jupiter Hospital.
Recreational amenities
Thane offers abundant amenities for fun and entertainment for its residents. This place has some of the best malls, namely R Mall, Korum Mall, Cosmos Mall, and Infinity Shopping Arcade. For people who want to explore the Thane nightlife, spots like The Irish House, Rude Lounge, and Barworks are exciting options. This place has diverse restaurants like China Bistro, Greek Gyros, and Burrito Factory Mexican Cafe for the ultimate food lovers.
Beautiful landscape
Thane has lush greenery that offers a scenic landscape. Also known as the city of lakes, it has about 33 lakes. Some places worthy of mention around Thane are Upvan Lake, Yeoor Hills, Sanjay Gandhi Park, Kanheri Caves, and Gaimukh Creek front.
Comparatively lower rates
Notwithstanding the amazing commercial growth and superior infrastructure, Thane remains significantly more affordable than other posh localities in Mumbai like Colaba, Juhu, or Bandra. In other words, Thane is simply one of the rare places in Mumbai where people can get superb amenities at surprisingly affordable rates. A crucial factor that has resulted in the development of new projects in Thane.
Few of the new projects in Thane
According to real estate experts, Thane has recorded a 300% growth in property purchases over the last five years. Considering this, economic analysts have predicted a 40% hike in employment opportunities in the Mumbai Metropolitan Region that includes Thane. Such an increase in job vacancies would eventually lead to a steady increase in the demand for housing. That would consequently result in the construction of new projects in Thane.
However, some new projects by big developers are already underway in Thane. They are listed as follows:
- Rustomjee Urbania by Rustomjee Group
- Wadhwa Courtyard by Narang Realty
- Raymond TenX by Raymond
- Kalpataru Park City by Kalpataru Developers
- One Hiranandani Park by Hiranandani Developer
- Northern Light by Shapoorji Pallonji Group
- Acme Ozone by Acme Group
- Sheth Avalon & Sheth Zuri by Ashwin Sheth Group
- Lodha Amara, Sterling & Lodha Splendora by Lodha Developers
- Piramal Vaikunth by Piramal Realty
Therefore, keeping in mind all the mentioned factors above, Thane is not only emerging as a gold mine for homebuyers but one for investors as well. The situation might improve further in the future with more advanced infrastructural developments and better connectivity.
