Connectivity is a prime aspect for the growth of real estate at any location. Localities with exclusive connectivity always top the chart for home buyers as well as investors for investing in real estate.
The MMRDA (Mumbai Metropolitan Region Development Authority) has approved two major metro rail corridor projects the 40-km Dahisar-Charkop Bandra-Mankhurd line and the 32-km Wadala-Ghatkopar-Thane-Kasarvadavli corridor.
The 2 designated metro routes, once operational, will transform the infrastructural landscape of the benefitting areas and the city as a whole and real estate destinations along its route.
A boost in transportation and infrastructures have proven to have a positive impact on the real estate values. The development of these infrastructures tend to give a significant boost to the residential and commercial segment located closely to the developments. The first phase of the Metro between Ghatkopar and Andheri gave the areas the required boost where they can command a premium rate as it significantly reduced the travel time to a mere 21 minutes. Since this development people eventually looked at Saki Naka, Marol and other areas for residing or investment purposes.
Transit systems play a significant role in social and physical functioning of the locality across the country. It reduces the distance and time for travelling between two points and is an important part for inhabitants living in a locality as everything is dependent on it.
Locality’s connectivity is directly proportional to the life standards. Also expenses of transport system affect the monthly expenses of the commuters i.e. the residents living in well-connected area has to spend comparatively low as compared to the people residing in locality with less connectivity who have to spend a lot on transportation.
In today’s fast-paced standards of life, Metro is known for its quick quality service and unprecedented efficiency.
Metro is a lifeline for many significant cities of India that includes, Chennai, Gurgaon, Bengaluru, Mumbai, Kolkata and Delhi. And now it’s turn for Thane city to get crowned with this modern transit channel and upgrade the lifestyle of the residents. Thane, a part of Mumbai city is the speedily growing suburb with affordable and luxurious real estate properties at lesser rates than many peripheral areas in Mumbai.
Let’s watch out the plan, benefits and impact of the upcoming Metro Rail at Ghodbunder Road.
Previously the proposed metro was limited from Wadala to Ghatkopar. But according to new proposal it will be extended up to Teen Hath Naka at Kasarvadavali on Ghodbunder Road. Now it is called as Wadala-Ghatkopar-Teen Hath Naka and the plan is now under the eye of MMRDA (Mumbai Metropolitan Regional Development Authority).
As per the preliminary report, the proposed Metro rail project will link Mumbai to Thane and is a part of Metro Line-3. This metro project will be stretched up to the length of 32 km with 29 junctions in between and Rs. 22,000 crore is the total cost estimated for the project. The project is expected to cover up to 70 percent area of Thane. The existing accesibilities of Ghodbunder Road can be checked here.
- Benefits and Impacts on Residential Real estate
The proposal of Metro in thane is positive indication for an elevation in the demand of real estate market of Thane. The project is also going to benefit many leading areas of Thane, and Ghodbunder Road is one of them. Ghodbunder Road one of most talked about areas in Thane has undergone a surreal landscape transformation over the passing years. The property rates have seen a multi fold jump making it one of the choicest locations in Thane. For in detailed property rates click here
This locality has already witnessed a boost because of the other infrastructural developments. A flyover at Manpada, Patilpada, Waghbil and Kapurbawadi also helps the locals for easy movement. An elevated fly over is planned to deprecate the traffic issues faced on the road.
Inclusive of all these immaculate connectivity Metro Rail Project on Kasarvadavali, will add a value to the rising demand of residential properties on Ghodbunder Road.
Once the Metro Rail Project becomes functional the properties will receive a noticeable and good price appreciation in future.
Here are some residential properties on Ghodbunder Road Thane that will experience the benefits of Metro Rail Project.
A residential property Neelkanth Woods on Ghodbunder road, by T Bhimjyani Realty comprises of 2.5 and 3 BHK flats for sale in thane with price rate starting from INR 1.85 Cr and INR 2.07 Cr respectively. The property has amazing interiors with top notch amenities and accessibilities.
Kalpataru Hills defining skylines in Thane is developed by Kalpataru Group and is in proximity to Ghodbunder Road. Kalpataru hills offer affordable 1 BHK, 2 BHK and 3 BHK flats for sale with price rate starting from INR 74 Lakhs. Inhabitants of Kalpataru Hills enjoy a glorious view of Yeoor Hills.
Prescon Realtor’s Prescon Prestige Phase 2 on Ghodbunder Road is a multistoreyed residential project having 6 towers in the area. Prestige comprises of 1 BHK, 2 BHK and 3 BHK spacious flats in Thane.
Hyde park by Kabra Group and located off Ghodbunder Road consists of stylish 2 BHK and 3 BHK affordable flats in Thane west. It offers lot of choices for modern amenities to the home buyers. The price rate starts from INR 87.7Lakhs.
Located on Kasarvadavali, on Ghodbunder road Ace Avania by Ace constructions offers luxurious 2 BHK and 3 BHK flats for sale in Thane with price rate starting from INR 72.96 Lakhs and INR 1.05 Cr respectively. It comprises of all basic and modern amenities to provide residents a standard lifestyle.
Godrej Emerald is a luxurious residential project located on ghodbunder road is by Godrej Properties. Multistoreyed Godrej Emerald is spread across 6.5 acres of area and comprises of 1.5 BHK, 2 BHK and 3 BHK flats in Thane. The Residency is facilitated with best of amenities and offers a beautiful picturesque view of Yeoor Hill to the residents.
Lodha Group’s residential property i.e. Lodha Splendora is a multi storeyed property with 14 sky scrapers and is spread over 40 acres of land. It offers 2 BHK and 3 BHK flat configurations with starting rate of INR 77 Lakhs and top notch amenities that the residents of Lodha Splendora enjoy living with.
Cosmos Orchid on Kasarvadavali, Ghodbunder road by Cosmos Group developers, offers 1 BHK and 2 BHK flats in Thane with price rate starting from INR 57.6 Lakhs and INR 69.12 Lakhs respectively. Flats of Cosmos Orchid have all the amenities that are required for a good lifestyle.
Rumabali a residential property by Puranik Group’s consists of spacious 1 BHK, 2 BHK and 3 BHK flats on Ghodbunder road thane, with price rate starting from INR 49.02 Lakhs and provides modern amenities that is required for leaving a comfortable and peaceful life
Some other properties that also come in the above list are Dosti Imperia, Fenkin Belleza, Twin Tower, Sky Suites, Vijay Orion, Cosmos Jewels etc.
3) Impact on Commercial Real Estate
The proposed metro connectivity is definitely going to boost the commercial sector as there are many land parcels available in and around Thane. With their superior push to the connectivity more and more companies will set up their base here which will in turn push the residential sector.
The already developed Monorail and Metro Line Phase 1 have been instrumental in pushing the prices in these areas. With the proposed metro development in Thane it is estimated to boost the price by 30-40%.
The Wadala-Thane Metro project’s estimated completion by 2021 will make Thane a giant in the Central Suburbs with surreal transformations in the real estate segment.