Thane, located in the north eastern part of Mumbai, has emerged as a lucrative alternative for the property buyers from different locations, making the locality an easy and affordable real estate investment.
Joining the successful transformation of the real estate landscape of Thane, Ghodbunder Road has played a crucial role in bringing up the demand of the city, with its unpredictable growth and robust developments in all spheres.
Location is the prime factor and plays a major role in the context of real estate for making an investment or purchasing a property to reside. A Location that meets to all the day to day needs of the residents is one that is chosen first by the property investors as well as the buyers. Also location contributes to term ‘price appreciation’.
A Location that is capable of generating good employment opportunities, provides hassle free commute and all social infrastructures i.e. malls, hospitals, schools at a close proximity, visiting spots to get relief from daily stress etc. tends to increase the demand of area, which in turn increases the commercial as well as residential property rates.
Ghodbunder Road (GB Road) combines the best of properties with all requisite social needs and undoubtedly satisfies all the basic needs of its inhabitants in every sector, whether it is connectivity or famous spots or accessibilities or employment sector. And it is still stepping forward in these infrastructures that are leading to the gradual increase in the property rates of Thane’s GB Road.
Investors always look for a property in such a locality that shows the sign of good price appreciation in future. And location wise GB road is the best.
Some of property investors invest to get good cash after they sell their property while some give their flats on rent and by accumulating that rental income they further invest in other property to increase the count of owning a home.
Talking about the Price appreciations of Ghodbunder Road, it has caught the sight of many investors. Year by year the locality, without falling back has experienced a consistent growth in its property rates.
The property rates in the locality have never disappointed the investors as well the residents whether we talk about its past or present. And in future also it is going to maintain its status of always moving ahead in case of property rates. Let’s have a look on, what were the average property rates from 2008 to 2012, then how much it appreciated from 2013 to 2016 and what are the future expectations.
From 2008 to 2012
With little bit ups and downs the rise in property rates at Ghodbunder Road Thane, from 2008 to 2012 was satisfactory.
In 2008, from January to March the average property rate was Rs. 3800 per sqft. After which it was around the same price throughout the year.
In 2009, it rise up to Rs. 4000 per sqft from January to March which continued to be same till June and then suddenly decreased to Rs. 3900 per sqft from July to September, after which it again increased to Rs. 4100 per sqft from October to December.
2010 was the year of sudden increment in average rate of properties in the locality. From January to June it was around Rs. 4000 per sqft i.e. Rs. 4200 per sqft from January to March and Rs. 4600 from April to June. After which it drastically elevated to Rs. 6000 per sqft from July to September.
In 2011, the average property rate was Rs. 5900 per sqft from the month of January to March which further increased to Rs. 5800 per sqft from April to June, Rs. 6300 per sqft from July to December.
Average property price elevated in 2012, from January to March it was Rs. 6400 per sqft, Rs. 6700 per sqft from April to June, Rs.7000 per sqft from July to September and Rs. 7400 per sqft from October to December.
From 2013 to 2016
The property rates at GB road Thane have undoubtedly increased from year 2013 to 2016. How much? It is mentioned below.
In 2013, the price appreciated from average property rate of Rs. 7300 per sqft to Rs. 7700 per sqft from January to March, and kept on increasing further with Rs. 7500 per sqft in the month span of April to June, Rs. 8300 per Sqft from July to September and Rs. 8600 per sqft from October to December.
2014 experienced a better hike in average property rate i.e. Rs. 8600 per sqft from January to March, Rs. 8650 per sqft from April to June, Rs. 8700 from July to September and Rs. 9000 per sqft from October to December.
The average property rate increased to Rs. 9000 per sqft from January to march in 2015, which slowly reached to Rs. 9100 per sqft from April to June, Rs. 9200 from July to December.
In 2016 till the month of September, the property rate was around Rs. 9000 per sqft i.e. it was Rs. 9600 per sqft from January to July and Rs. 9700 per sqft from July to September.
The current rate of property at Ghobunder road is around Rs. 10,000 per sqft
Summary of price trends:
Expected future hike in the property rates at Ghodbunder Road Thane.
Seeing the great developing potential of the locality the property rates are expected to hike up to 15 to 20 percent in future. And looking at this expected appreciation in property prices, more and more end users as well as the investors are migrating to this area.
The area has many residential properties with affordable, luxurious and ultra-luxurious flats, built up most famous and reputed developers in thane who offer ample of choice to its customers, regarding amenities. They also offer choice of different configurations like 1, 1.5, 2, 2.5, 3, 4 and 5 BHK spacious affordable and luxury flats for sale in Thane West, which are serving to innumerable families and are the reason for their happiness.
Some of these properties include Lodha Splendora by Lodha Group, Cosmos Empress Park By Cosmos Group, Rumahbali by Puraniks Group, Dosti Imperia by Dosti Realty, Sky Suites by Harmony Lifestyle’s Group, Ace Square by Squrefeet Group, Rodas Enclave by Hiranandani, Acme Ozone by Acme Group and many more.
Impact of Future Developments on Property Rates of GB Road
There are number of infrastructural projects planned for GB Road, which is listed below.
As the locality already enjoys four fly overs at Manpada, Patilpada, Kapur bawdi and Waghbil, three more flyovers are proposed on Ghodbunder Road, which will connect Thane city with the western suburbs of Mumbai. These flyovers will also reduce the traffic problems that are currently faced by the existing roads and flyovers.
Driving time from Thane to South Bombay will be considerably reduced, once the flyovers’ gets ready.
Metro Rail Project
Metro is one of the connectivity that significantly increases the demand of the location, wherever it is implemented. And also it is known for its quick and effective efficiency, as it drastically reduces the travelling time of the commuters. The same can be inferred upon by Metro Phase 1 which runs between Andheri to Ghatkopar. The development of the metro has reduced time travelling time between these 2 places to 21 minutes and the areas in proximity of the metro command a premium price today due to its seamless connectivity.
Metro rail Project namely, Wadala-Ghatkopar-Teen Hath Naka metro line 3 at GB road is planned to run from Kasarvadavli to Wadala. And it is under the supervision of MMRDA (Mumbai Metropolitan Regional Development Authority).
The Metro Line 3 will halt at 29 junctions and covers up to 70 percent of total area of Thane. The total cost estimated for the project is Rs. 22,000 Crore. The emergence of metro in the locality will raise the lifestyle standards of the commuters in the area and will also help the residents to enjoy a modern connectivity channel. This will in turn hike the prices of the residential properties in the vicinity.
Upcoming IT hubs
MGM IT Part is an upcoming Commercial center in the area that is going to provide ample of job opportunities for the technically skilled youth. And Apart from this, many other corporate offices, commercial centers like showrooms, malls, banks, retail and industrial outlets are booming in the locality and thus attracting the leading and reputed developers to build more and more township projects for the price sensitive home seekers.
Ghodbunder Road remains amongst one of the most affordable location to stay connected with the most admirable city like Mumbai. New age of Thane will be marked by the emergence of the advanced infrastructural development which will change the perspective towards the city. These infrastructures will change the distance from Thane to other parts of Mumbai thus making Thane in its true essence a part of Mumbai.