The city of Thane is the headquarters of Thane District with Navi Mumbai, Kalyan, Ulhasnagar and Ambernath being some of the other cities in the district, and it is the third most industrialized district in the state of Maharashtra. As a consequence, real estate is an important industry here.
In real estate terms, residential properties in Thane East are more expensive than Thane West.
So why is Thane a good proposition for real estate investment? Let us look at some important parameters.
Transport & Connectivity
This is one of the important parameters influencing a decision for real estate investment in any area. Thane fits the bill admirably in this. It has good rail and road transport, good roads and highways for easy mobility and it is only 36 km from the Chhatrapati Shivaji International Airport Mumbai. Thane has very good rail connectivity, not only to Mumbai city but to other parts of the state through the Central and Trans Harbour Line Suburban railway network. The first ever passenger rail terminus in Asia was in Thane. More than a thousand trains pass through the station daily both local and long distance. Every few minutes there is a fast train arriving or leaving Thane; it is one of the busiest suburban rail stations in the state of Maharashtra.
There is a good network of buses operating from Thane to various parts of the city and the country. The various transport corporations like BEST, TMT, KDMT, NMMT, and MSRTC all operate in Thane and therefore cover most places, inter and intra-city.
Another important factor influencing the investment decision is Education. Both Thane East and West have many reputed schools like Hiranandani Foundation School, Billabong International, Euro School, DG International, DAV Public School, New Horizon Scholars School, Arya Cambridge International School, St. John the Baptist and St. Xavier’s to name just a few. These schools offer State, CBSE, ICSE and IGSCE syllabi. There are also many Junior and Degree colleges here like the ICFAI University, B N Bandodkar College of Science, NKT College, Thane ITI, etc.
Shopping & Entertainment
Any place without shopping and entertainment areas is not worth investing in. Thane has several popular hang outs, malls, eateries and cinema halls. The Ghodbunder Road area is a hot spot for malls and entertainment. Korum mall is a popular hangout with an INOX theatre. Viviana Mall in Majiwada is another popular one with a multiplex. These malls and other exclusive shopping areas also feature food courts offering a multi-cuisine eating experience. There are many fine dining and gourmet restaurants in Thane.
Some of the star hotels in Thane are the Fortune Park Lake City (4star), Ratna Palace Residency (3star), Alka Residency (2star), besides the Ginger Group (a Taj hotels brand)
Hospitals like Hiranandani, Jupiter, Kaushalya Medical Foundation Trust, Bethany and Aayush Multi-specialty offer good health care. There are many private clinics and labs also to cater to the medical requirements of the people here.
Thane being the third most industrialised districts, has excellent employment opportunities. There are industries across many verticals: Engineering, Pharmaceuticals, Electronics, Chemicals, Rubber, Iron & Steel, etc. INDOFIL Industries Ltd., Pfizer, Lubrizol, Herdillia Chemicals, NOCIL, Glaxo, Hindustan Petroleum Corporation Ltd, BASF, Cadbury Fry (India) Ltd., and the Tarapur Atomic Power Station are some of the big names here. The Thane – Belapur – Kalyan industrial belt houses many modern and sophisticated industries. The neighbouring areas of Ambernath, Pokhran Road and Dombivli are also very industrialized.
Due to the industrialization in Thane, demand for residential and commercial space increased and many builders and developers entered the fray.
The present climate after demonetization does not seem to be conducive to making big ticket investments but this may be a temporary state and has to rebound into the growth phase. According to real estate analysts, if you have legitimate financial means you should invest now as the rates are down.
With all the future developments that are being planned by the government, in terms of connectivity and employment, and with the migration of people to cities like Thane, great stress will be put on the civic authorities to provide better civic services and social amenities.
Whether it is for own use or as an investment, now is a good time to invest in Thane, if you can.
Stanley Varghese for IndiaProperty.com
Image: By Mandar Dewalkar (Mandar Dewalkar Photography) [CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons