For a couple of years, Thane has witnessed a slew of infrastructure projects that is bridging gaps between the city and many other key locations of Mumbai, thus enhancing connectivity

“Today, Thane has emerged as one of the best real estate markets for all who want to enjoy the intimacy of a city lifestyle without facing the chaotic daily commute. This could be elucidated from the demand-supply ratio, which shows that housing sales outstripped launch- es by 18 per cent over the last four years for Thane city. However, what separates Thane from all other markets is the appreciation value that it brings to the buyers. The city witnessed an average price rise of 5.1 per cent in CY19-CY22 YTD when the whole nation was under the shadow of the pandemic,” says Ajay Ashar, immediate past president, CREDAI-MCHI Thane.

So, which are the ongoing and proposed projects that will boost Thane’s real estate? Let’s have a look.

THANE-WADALA METRO AND THANE-BHIWANDI-KALYAN METRO LINES

“The Metro Line 4 from Wadala to Kasarvadavli in Thane is a 32.32 km long elevated corridor with 32 stations. It will provide interconnectivity to existing infrastructure links such as Eastern Expressway, Central Railway, Monorail, ongoing Metro Line 2B (DN Nagar to Mandale), proposed Metro Line 5 (Thane to Kalyan), Metro Line 6 (Swami Samarth Nagar to Vikhroli) and Metro Line 8 (Wadala to General Post Office). This complete line will provide rail-based access to fast-growing micro-markets such as Wadala and Thane. By reducing the current travel time by more than half, the Metro will make these markets more accessible and attractive to prospective homebuyers,” explains Rajkumar Singh, head of residential services (West), Anarock Group.

Further explaining, Singh says, “Metro Line 5 will connect the rapidly growing corridor spanning Thane-Bhiwandi-Kalyan through an efficient mass transport system.

This elevated stretch will be 24.9 km long and will have a total of 17 stations.

It is targeting a daily rider- ship of 3.25 lakhs by 2031. The upcoming Metro line will have an interchange facil- ity at Kapurbawdi junction that connects Wadala to Kasarvadavli via Ghatkopar and Mulund. Once operational, the Metro line will be a boon for commuters from Mumbai and Thane regions. Along with Line 6, this project will help create a circular Metro route in Thane city and integrate it with the Mumbai Metro network. The Metro link will also support the emergence of growth centres such Nilje, Bhiwandi and Kalyan resulting in a rise in demand for housing in these pe- ripheral suburbs.”So, when are these Metro lines expected to be operational? Vivek Rathi, research head, Knight Frank India says, “Metro Line 4 (Kasarvadavli to Wada- la), Metro Line 4A (Kasarvadavli to Gaimukh) and Metro Line 5 (Thane-Bhiwandi-Kalyan) are all expected to be completed by 2025.”

THANE-BORIVALI TUNNEL ROAD

“Twin tunnels linking Borivali with Thane by road are estimated to take up to five years from the present date. These tunnels will connect Thane’s Tiku- ji-ni-Wadi with Borivali at the Western Expressway,” says Jitendra Mehta, president, CREDAI-MCHI Thane. These tunnels are expected to boost the real estate market of Borivali, Ghod- bunder Road, Thane city and Dahisar as the travel time between Thane and Borivali will be reduced to just 15 min- utes from the current commute time of nearly one-and-half hours.

OTHER MAJOR PROJECTS

“Inland Water Transport System, will link Vasai-Virar and Kalyan through Thane to Mumbai city and suburbs. There are also projects like Alibaug-Virar Multimodal Corridor, which will divert heavy truck traffic away from Thane while the Balkum-Ghodbunder Coastal Road and bridges spanning the Ulhas River will help Thane grow through de- velopments in locations, which are presently being viewed as future expansion areas- the ‘New Thane’. The impact of all these projects on Thane’s housing will be positive. From the details shared by authorities, we expect the earliest completion of the Inland Water Transport System, which is within a year or thereabouts. The Inland Water Transport System will ensure smooth and faster connectivity between Vasai-Virar and Kalyan through Thane, so business and job opportunities will get enhanced because of the quicker access created,” adds Mehta.

The connectors to the road parallel to Ghodbunder Road shall connect Gaimukh to Paygaon and Kasarvadavli to Kharbao. These projects will take a few years as they’re in the planning stage. Station Area Traffic Improvement Scheme (SATIS)–2 is also being imple- mented and is expected to be completed this year. These projects are spread across a long corridor and accordingly, the benefit of the same will be spread over a large influence area. The connectors to the road parallel to Ghodbunder Road will benefit markets on the Vasai– Bhiwandi Road, which shall have better connectivity with Thane and Mumbai. These include locations like Paygaon and Kharbao. Thane East SATIS–2 projects will primarily benefit the commuters travelling from Eastern Express High- way, Ghodbunder Road and beyond who use public transport including buses and local trains,” mentions Rathi.

“Affordable housing options in what are today’s peripheral areas will become easily accessible, making owned homes a reality for many home-seekers and, within their budget. The construction of flyovers at Mumbra Bypass Junction, Shil Kalyan Phata, Shil Phata and Kalyan Phata Junction and the widening of the highway and construction of an underpass at Kalyan Phata, which are related to projects such as the Coastal Road in Thane, for instance, will enable home-seekers to opt for afford- able homes in such locations, which are in Thane city’s periphery. Also, enhanced connectivity will help ease traffic congestion. It will also create new jobs and ensure all-round development around the region,” concludes Mehta.