February 1, 2018

The past one year has been rather significant for the real estate sector of India with three major reforms - demonetisation, RERA and GST firmly setting their foot. While every city is grappling with its after-effect, Mumbai too has been fighting its own battles. However, for Maharashtra, amidst all this - Thane has acted as a ray of hope with prices not only being stable, but also witnessing a significant demand from buyers.

Hence, Times Property called upon the major stakeholders of the Thane realty market for a roundtable so that they could shed further light on the phenomenon: Thane - a growth story. Here, are the excerpts from the conversation.

VALUE FOR MONEY

‘ If you buy a house in Thane, you need not look beyond the city. From the RTO office to the court and from the passport office to other bureaucratic centres - everything is localised. Also, with a series of infrastructural projects lined up, which includes - the Metro, Khopri railway station, widening of the Pokhran Road 1 and 2 and the Nagpur-Mumbai Expressway - the city is headed only in the right direction. Hence, buyers shall not regret buying a home here.”

AJAY ASHAR,
president, CREDAI-MCHI Thane Unit

THANE: A SELFSUSTAINABLE CITY

‘ Till five years ago, Thane was considered a dormitory; however, that is no longer the case. In fact, the last three years have seen the city rise as an IT hub with approximately 3 lakh jobs being created. Besides, the municipal commissioner of Thane (Sanjeev Jaiswal) and his team have worked significantly to transform the landscape of the city. From world-renowned educational institutes and vibrant cultural hubs to expansive green cover, affordable price points, futuristic infrastructural developments, and gated complexes (equipped with all the modern amenities) - Thane has literally risen from the ashes and emerged as one of the most livable cities in the country.”

SACHIN MIRANI,
honourary secretary, CREDAIMCHI Thane Unit

SCORES OVER THE WESTERN SUBURBS

‘ Thane is centrally-located; hence, one can commute to the other parts of the city quite easily. Also, on one hand you can buy a 1-BHK apartment in a gated community, which has all the amenities within a five-km radius in Thane at a price range of Rs 30-60 lakh, whereas on the other hand the western suburbs lack the wholesomeness (w.r.t amenities and quality of life) that gives Thane its edge. And with traffic congestion on the rise, travelling internally within the western suburbs is proving to be an uphill task.”

JITENDRA MEHTA,
vice-president, CREDAI-MCHI Thane Unit

A STEP IN THE RIGHT DIRECTION

‘ Approximately six lakh trees have been planted by the TMC in the last couple of years out of which 95 per cent of them have survived. Also, with NGOs and governmental bodies working together, not only has the physical fabric of the city improved, but also the social fabric has undergone a sea change. With awareness drives, cultural programmes and other such activities, there is an attempt to create a sense of collective consciousness among people so that they can lead a wholesome life.”

RAJUL VORA,
committee member, CREDAI-MCHI Thane Unit

TMC HITS THE RIGHT NOTES

‘ According to a recent study, Thane is the third fastest growing city in the country and for that, credit is due to the TMC. It is not only working towards amending the current situation; but also working keeping the future in mind. From widening the internal roads to ensuring equal distribution of water to everybody in the city, the authorities have done things the right way. Also, with Thane being one of the few cities that do not have to bear the brunt of power cuts, it seems the bureaucratic will is aligned with the social will of the people.”

MUKESH SAVLA,
founder president, CREDAI-MCHI Thane Unit

IN FAVOUR OF THE BUYERS

‘ Home-buyers today are well-read, well-travelled and self-aware and therefore, they can see for themselves the transformation Thane has undergone in the last couple of years. Besides, with the prices getting stable, it is completely a buyer’s market. Therefore, I believe that since Thane offers potential buyers the perfect work-life balance, they should not shy away from investing here and calling it their home.”

MUNISH DOSHI,
vice-president, CREDAI-MCHI Thane Unit

A GREATER PUSH

‘ Thane is a user-based city and not an investor-based one; hence, that gives it a strong edge. However, there are certain bottlenecks, that ought to be addressed such as fastening of approvals; a centralised vision of ULBs, and of course a greater emphasis on completion of big infrastructural projects. Once these grievances are addressed, Thane would excel further.”

SHAILESH PURANIK,
past president, CREDAI-MCHI Thane Unit

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Source: epaper.timesgroup.com