February 3, 2018

Thane is a proving to be a realty hotspot due to its strong connectivity, buzzing residential scene and a growing commercial market. Read on…

Thane, popularly known as the ‘City of Lakes’, has climbed up the popularity ladder and risen on the realty map of Mumbai in the last decade. So, what has worked in favour of this city? Why are home-buyers looking to park their money here? Let’s understand…

The satellite town has witnessed some of the biggest infrastructural projects taken up and completed in the recent past, which has indeed made it a growth story worth writing about. “From widening the internal roads to building flyovers connecting Thane to the main city - there have been some concrete steps taken to boost the connectivity of the area,” mentions Ajay Ashar, president, CREDAI-MCHI Thane Unit.

There has been a lot of emphasis on beautification of the existing roads; betterment of the existing railway station; preparing a channel for equal distribution of water and upgradation of sewage and waste management as well, which have increased the liveability quotient of the area. “All the projects are designed and planned keeping the future in mind. Therefore, it is this futuristic attitude, which is giving TMC the edge. Also, once Metro-4 (Wadala-Thane-Kasarvadavali) project becomes functional, it will not only boost connectivity, but also give a fillip to the realty sector,” adds Ashar.

Source : epaper.timesgroup.com

Besides working towards a strong physical infrastructural framework, the stakeholders are also working towards providing a wholesome living experience to the existing home-owners and potential buyers. “Thane has seen some of the most renowned schools and colleges setting up their base here. Also, multi-speciality hospitals, vibrant cultural centres (theatres, multiplexes, parks, museums, etc), famous food chains among others have risen in number, thereby giving an easy access to existing home-owners,” says Lata Jain, a home-owner.

A REALTY VIEWPOINT :

Nationally, the real estate sector is undergoing a lot of changes due to the major reforms, which kicked in last year. However, Thane has held its ground and withstood the winds of change. Earlier, people were apprehensive about investing in under-construction projects; however, post RERA, the inventory is slowly starting to clear out. Besides, there is no inventory in the ready-to-move-in segment, which is one of the key achievements of the city, believe experts.

The projects in Thane are mostly gated communities with all the basic amenities available within a five km radius of the projects. “Due to availability of land, the projects are built with the best of the amenities (such as a club house, gym, jogging track, mediation centre, yoga centre, park, music classes, skating ring, and swimming pool among others). Besides, buildings are developed for all kinds of buyers - a MIG buyer or a High Net Worth Individual (HNWI) - you would not be disappointed if you invest in Thane,” mentions Shailesh Puranik, past president, CREDAI-MCHI Thane Unit.

WHAT GIVES THANE AN EDGE?

A shortage of land and exorbitant prices have driven home-buyers away from the main city and here is where, Thane has woven its magic and attracted all the potential buyers. Earlier, people had to travel to the main city for work purposes; hence, they did not wish to buy a house at the peripheral areas of the city. However, Thane has emerged as an IT hub and opened up employment avenues, thereby giving the city the much needed boost.

There were certain gaps, which had to be addressed so that Thane could emerge out of Mumbai’s shadow and to a large extent, the city has successfully managed to achieve just that. “Besides a focus on boosting connectivity and building quality residential projects, the authorities have also worked towards improving the green cover and quality of air. And since everybody is working towards improving the standard of the living for the people of Thane, the future only looks bright and promising,” explains Kundan Mehta, a home-owner.

In conclusion, experts believe that Thane is surely scoring over its counterparts on all grounds - whether we talk about residential projects, connectivity quotient or even the appreciation potential and therefore, it would surely be a wise call if a potential buyer is looking to make Thane their home this year.

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Source: epaper.timesgroup.com