Thane is situated to the north-east of Mumbai and is well connected to the prime business hubs of Mumbai and Navi Mumbai via rail and road. Erstwhile an industrial town with affordable residential housing options, Thane has now become a relatively upmarket residential destination, owing to the various infrastructural initiatives by the Government executed under Thane Municipal Corporation (TMC). Most of the residential properties in Thane were low rise developments, however, with a gradual infrastructure development, prominent developers have come up with major projects in this region.
Initial residential development was concentrated on Pokhran Road and around Majiwada junction in West Thane. However, residential development has now spread to newer pockets such as Manpada, Balkum and Kolshet Road areas. These locations offer residences at attractive price points and have an easy accessibility. Ghodbunder Road also continues to attract developer and consumer interest due to its ready connectivity to Western part of Mumbai, Eastern Express Highway and the industrial hub of Bhiwandi. Fast developing commercial projects by reputed developers on Ghodbunder Road, Wagle Estate and in the vicinity of Cadbury Junction on Eastern Express Highway have also driven the interest of end-users in Thane.
Some of the prime developers now having a prominent footprint in Thane include Dosti Realty, Harmony, Hiranandani, Kalpataru, Lodha, Puranik, Runwal, Rustomjee, Vijay, among others. Recently, Piramal Realty, TATA and Wadhwa Group and have also announced their projects in Thane.
- Residential projects with good amenities and easy accessibility at attractive price points as well as premium projects offering excellent views of Yeoor Hills and Upvan Lake are likely to maintain the end – user interest in Thane.
- Development of commercial spaces on Ghodbunder Road and IT Zone in Wagle Estate has increased employment in these areas, thus; increasing the demand for housing in nearby areas.
- Infrastructure development along the Ghodbunder Road and proposed Metro corridor along this stretch is further expected to add to the demand for housing in nearby areas of Manpada, Tikuji Wadi, Patlipada. (MMRDA has proposed the alignment of the metro rail corridor including staions at Teen Haath Naka, Wagle Estate, Cadbury Junction, Golden Dyes, Kapurbawdi, Manpada, Tikujini Wadi, Patlipada, Waghbil, Kasarvadavli)
- Infrastructure development is also planned to connect Thane to Bhiwandi via several flyovers. Balkum, which connects Majiwada junction in Thane to Kasheli and Kaleli in Bhiwandi via an internal road is also likely to see tremendous demand due to the proposed new infrastructure, upcoming residential projects and townships.
- Apart from excellent connectivity to rest of Mumbai, Thane has good leisure and entertainment options with operational malls such as Korum Mall, Viva City (Viviana) Mall, Decathalon and R Mall.
- Thane boasts of good social infrastructure as it has some of the key hospitals such as Jupiter, Bethany and Hiranandani; educational institutes such as the famous Sulochanadevi Singhania School, Holy Cross Convent School, St. Xaviers School; and star hotels such as The Fortune Park and United 21.
- The above social infrastructure continues to drive consumer interest in the adjoining areas of Pokhran Road and Manpada.
Source : ICICIHomeSearch.com
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