Thane has witnessed a thriving expansion in the past few years, with rapid infrastructure development around the district. Earlier, Thane was marketed to people as a district far away from the city. But today, it is one of the lucrative home-buying options for people.
Thane has seen some necessary improvements in connectivity, physical infrastructure, residential property developments, and much more.
Following that, let’s dive deeper into some practical reasons why investors are placing bigger bets on the real estate sector of Thane.
1. Strategic Location and Connectivity
Thane is situated in a very strategically connected location, where people can easily travel to Navi Mumbai and Mumbai. Following that, the transportation facilities are also enhanced to help the daily commuters or job-goers for easy travelling between cities.
The connectivity infrastructure is also excellent, with the proximity of the district to the Eastern Express Highway and Mumbai-Nashik Expressway. People from other parts of the MMR (Mumbai Metropolitan Region) can easily access these roads to Thane and vice versa.
2. Consistent Price Appreciation and Increased Rental Yields
Thane’s real estate market has seen consistent appreciation over the course of ten years. Investors are betting on it because this appreciating rate ensures a great ROI in the long run.
For your better understanding, the current average property price in Thane West and East is Rs 13,500 and Rs. 13,700 per sq. ft. This average has been appreciated by around 20% and 10%, respectively, for Thane West and East, in the past five years. And this growth rate isn’t expected to slow down anytime soon.
Thus, as far as ROI is concerned, investors cannot afford to miss out on buying a new property in Thane. Investing a budgeted amount today, and reaping high profits in the long run, is something very attractive!
So, irrespective of whether you are looking for a property in Thane East Mumbai for sale or are investing in properties in Thane West, the investment amount will nearly be the same for a similar-sized property. But, considering the appreciation rate, most investors are inclined towards Thane West.
3. Upcoming Developments in Thane
Another big reason for investors to believe that Thane will soon be a popular abode for most homebuyers is the upcoming physical and social infrastructure developments. Such developments will further contribute to the price appreciation of the real estate market in the Thane localities. Some of the projected developments you can expect in the near future are:
- Traffic improvement initiatives are to be implemented around the Thane railway station. It will eventually benefit the locales by reducing their travel time.
- The Kapurbawadi Station is under construction, which will be on Metro Line 5, connecting Kapurbawadi to Kalyan.
- The authorities are working towards improving the drainage system all across Thane.
- Kopri railway station in Thane has been proposed with a vision that it will decongest the crowd of Thane station.
- Residents will also have access to the bullet train connecting Mumbai to Ahmedabad, which will pass through Thane.
- Metro Lines 4 & 5 are under construction and are expected to improve the connectivity of Thane to Wadala and Kalyan.
- An underground tunnel is to be constructed, connecting Manpada and Borivali. Furthermore, it will also enhance the connectivity between Mumbai and Thane.
- The internal ring road metro is proposed for connecting Shivaji Nagar, Balkum, Manpada, and other such areas across Thane West.
Conclusion
These are the three reasons investors are going gaga over putting their bets on Thane’s real estate. Property developers have also realized the potential of the localities in Thane, and there’s always a new property in Thane that you will see under construction. The urge of developers to provide luxury housing within budgeted pricing is also attracting potential homebuyers and investors.
So, if you have made up your mind to invest in real estate in Thane, come check out the best options over Blox. At Blox, you get a comprehensive list of properties from various top developers of Mumbai and Thane based on your selected parameters. Whether you are buying a property as an investment or for a better living experience, you have an abundance of options to consider!