Emerging areas around Mumbai and the MMR like Thane, Navi Mumbai, Kanjurmarg, Mira Road etc. have seen a phenomenal growth in the recent past. With the government’s focus on building a robust infrastructure, these emerging destinations are well set for a robust growth.
Mumbai is one of the most costliest places for procuring or investing in a home. Hence the peripheral areas are the new micro-markets in focus. The areas of Thane and Navi Mumbai provide state of art amenities and cater to people looking for homes in affordable and luxury segment. Thane and Navi Mumbai are emerging as the new hotspots in the residential as well as commercial sector. With constantly striving to meet the desired needs and sifting according to societal trends, Thane and Navi Mumbai are playing a major role in transforming the real estate landscape of the city
As an investor or a home buyer it is very important analyze your financial aspects before proceeding towards your purchase. There are galore options today to invest in, however it’s essential you understand the location, the proximity it offers and the current trends in the area. This will help you underatnd the ROI and the other aspects.
Investing in any property, always leads to a good profit regardless of whether you dwell in or use it for renting. Today Thane and Navi Mumbai top the investment destinations for numerous reasons:
Below are some handy facts about Thane and Navi Mumbai that will help you to choose best location for your procurements:
Thane city also called as the sister of Mumbai city comes under Mumbai Metropolitan region (MMR). Thane known as the city of Lakes has 30 + lakes inside its precincts. The Mansunda Talao, also known as the Talao Pali is amidst the most stunning lakes in Thane.
Located centrally, the pulsating hub of Thane is well connected via railways and roadways. Thane has witnessed a phenomenal growth in the past few years. The driving force for the growth in the city has been stable infrastructural growth along with developments on the residential and commercial front. But now, it has shown a lot of development and growth since last three years. Thane has attracted many home buyers to become a top and most preferred destination for their investment.
Below are a few characteristics of Thane than can help you fasten your decision making process.
Emerging Residential and Commercial Hub
Residential: Thane has made a rapid growth in both residential and commercial sector of real estate. Thane is suitable for both moderate and high class buyers as compared to Navi Mumbai. There are many upcoming elegant residential projects by reputed developers, facilitated with all basic and top class amenities for a good lifestyle. Thane also offers flats at affordable rates for the home seekers who are low at their budgets and hence helping them to meet their needs.
Some of the best flats in thane are listed below,
2 and 3 BHK flats with price starting from 1.30cr, is offered by Lodha Luxuria Priva a residential project, at Majiwada Thane and provides amenities such as landscaped gardens, amphitheatre etc.
Raj Tattva by Rajesh Lifespaces developers is a property next to Wonder Mall, located at Kapurbawdi Junction Road, Thane west has 3 and 4 BHK flats with price rates from 2.17 Cr. Raj Tattva is offers exquisite amenities such as fitness zone, swimming pool, the jogging & cycling tracks
2 and 3 BHK flats offered by Kalpataru Sunrise Grande, is located at Kolshet Road Thane. Sunrise Grande is designed to optimize natural lighting and cross-ventilation. It provides all top class amenities viz. lush landscaped gardens, swimming pool etc.
Spread over 32 acres of land Piramal Vaikunth 2 a residential property with all modern amenities, located at Balkum Thane offers 2 and 3 BHK flats with starting price of 1.76 crore.
Wadhwa Courtyard by Wadhwa Group, at Pokhran Road, Thane is another project that offers flats with price starting from 1.50crore. The project also offers you the amenities that will give a luxurious touch which includes gardens, swimming pools, cafeteria, gymnasium and much more.
A 25 Storeyed residential project Viraj Tower by Raunak Groups located at Pokhran road is Thane’s uber- luxurious project. It offers 5HK flats with amenities such as swimming pool, jogging track and gymnasium.
Commercial: Thane is also considered to be the emerging commercial real estate hub, offering enormous employment chances, due to forthcoming IT & Business centers like Orion, Hiranandani Business Park etc. With very reasonable rentals, Thane is all set to be emerging central business district of Mumbai.
Thane City located in the north-eastern part of Mumbai in the state of Maharashtra, comes under MMR (Mumbai Metropolitan Region).
The city also has many lakes, amongst which, Talao Pali, a tourist attraction point, is the famous one. Parsik and Yeoor hills are also one of famous attractions. Various tourist spots and landmarks Sanjay Gandhi National Park, Upvan Lake, Kelwa Beach are at a short driving distance from Ghodbunder Road.
Thane has number of schools and colleges like, Hiranandani Foundation School (HFS), Sri Ma Vidyalaya, Little Angels High School, Arya Cambridge School, Tatvagyan Vidyapeeth etc.
Bethany Hospital, Hiranandani Foundation Hospital, Dr. Maheshwari Hospital, Dhanwantri Multispecialty Hospital etc. are some of the hospitals in Thane.
Other conveniences that form a part of Thane are Viviana Mall, Korum Mall, Hypercity, D Mart, Mega Mall and Big Mall.
An Exclusive Transit system!
Thane located centrally enjoys immaculate connectivity to Navi Mumbai, Eastern and Western Suburbs of Mumbai via Ghodbunder Road, Jogeshwari Vikhroli Link Road (JVLR), SantaCruz Chembur Link Road, Eastern Freeway, NH 8, Mumbai-Nashik Highway and the Thane-Belapur Road. Besides, the Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways connect Thane to Mumbai’s railway network.
Also, the Proposed Wadala – Ghatkopar – Teen Hath Naka (Thane) – Kasarwadavli, Mumbai Metro Line 4 project will connect Mumbai city with Thane and has a passageway of 32km. With the metro, the travel time between Thane and Wadala is expected to reduce by half. In a bid to decongest the busy Thane-Belapur road, the Mumbai Metropolitan Regional Development Authority (MMRDA) is constructing three flyovers on this stretch and a subway at Mahape. According to officials constructing these flyovers and underpass will ease congestion for more than 30,000 vehicles at each junction i.e. Savita Chemicals, Talavali Naka, Ghansoli Naka and the Mahape vehicular subway.
Of the three flyovers being constructed by the TMC, the Y-shaped flyover at Meenatai Thackeray chowk, located at thane will be the longest spanning 1,250m. It will connect the ends of the traffic jammed LBS road. The Naupada flyover connecting the stretch along MG road from the police station and Saraswati high school will be nearly 500m, while the Almeida junction bridge, at Almeida Main road Chandiwadi, Thane will be the shortest at just 420m.
With superlative connectivity Thane definitely tops chart for the most preferred investment destination over porwering various other hotspots in Mumbai.
Earlier Navi Mumbai was a city, hidden from the eye of realtors. Real estate sector was least developed and therefore, investors were not at all interested for buying a property in such a city.
Over the passing years, Navi Mumbai has gained fame in both real estate sectors i.e. residential and commercial, and became an investment point for many investors who either want to buy a property or rent one.
The main motive behind the emergence of this city was to decrease the population density from the main city like Mumbai. And the personalities who worked hard and gave their time for development of such a beautiful city are IAS Anil Lakhina and his colleagues. There have been many other reasons behind the real estate development of Navi Mumbai. Some of them are mentioned below,
- Residential and commercial status
Residential: CIDCO is one who is responsible for the development of Navi Mumbai realty. There are no slums left in Navi Mumbai. About 45 sectors in this city are well-developed from the infrastructural point of view. Many projects are present here with all basic amenities approved by CIDCO. The property price trend in some of it areas like kharghar are very cheap i.e. it starts from Rs.5000sqft. Hence, navi Mumbai offers property that middle class buyer can afford.
Assurance from CIDCO is must, before developers sell their properties to the buyers. CIDCO assurance prevents the property investors from investing into an illegal property. kharghar and panvel are the best places to live in Navi Mumbai, where one can buy a best property.
Some property trends in Navi Mumbai, by well-known top developers are listed below,
Hex DownTown, a residential project, located at kharghar navi Mumbai offers 1-BHK, 2-BHK, and 3-BHk flats with price rate starting from 47lacs. It provides all the basic amenities like swimming pool, joggers park etc.
Landmark Riverside located at panvel provides flat with 1-BHK, 2-BHK, and 3-BHk configurations.
2 BHK flats with price rate starting from 1.52 crore is offered by Bhagwati Group Greens located at kharghar in Navi Mumbai. The amenities provided by this project are suited to all modern lifestyles.
Marathon Next zone, located at panvel, Navi Mumbai offers flats with 2 BHK and 3BHK configurations, with all basic amenities needed by a person.
India Bull Greens is a project located at Panvel, Navi Mumbai that offers 1-BHK, 2-BHK, and 3-BHk flats.
Sai Icon a residential property provides 3-BHK and above flats with price rate starting from 1.32crore.
1-BHK, 2-BHK, and 3-BHk flats are offered by Sai Provisio Landscape, located at Panvel.
Green Woods, located at kharghar, offers 2-BHK and 3-Bhk homes with exquisite amenities and with starting rate of 96.8lacs.
Residential project, Lakhani La Riveria in panvel, provides 1-BHK, 2-BHK, and 3-BHk apartments.
Kalpatru Waterfront is a residency with top class amenties, located at Panvel and offers 2 BHK and 3 BHK homes.
Commercial: It is a fact that commercial development is wholly responsible for development of an area. Navi Mumbai is a commercial hub with huge purchasing strength. Navi Mumbai realty has risen up many employment opportunities for the unemployed people. Many whole sale markets from south Mumbai have migrated to Navi Mumbai. Whole region of this city is commercialized including CBD area, Dhirubhai Ambani Knowledge City and Special Economic Zone (SEZ) which is spread across an area of 13000 hectares that has given opportunities for the people who want to set up their own business or are in need of a job. Well-developed infrastructure is also one of the reasons that have given boost to this city.
A city with good connectivity, always grab investors interest. Navi Mumbai provides a better connectivity to all other points and localities within it and outside it. Kharghar being closely located to pune and nashik has attracted many investors from these localities. Bus Transport facilities are made available in this city where buses often run between different points and within sectors. The main reason why the travellers of Navi Mumbai easily travel across and to the nodes is the city bus which is the major transport medium.
The Sion- Panvel Highway in kharghar ends up to Mumbai and various other areas in Navi Mumbai. Several shopping malls and big complexes have surrounded Panvel, where the residents enjoy visiting, during their weekends. Distance of Navi Mumbai airport from Kharghar is 39km, which a person can cover by a car.
Panvel also has many educational centers like Paills College, CKT College etc. and health care facilities nearby. Some of them are, Metro hospital, Mahatma Gandhi Mission hospital etc.
A good Connectivity is provided to other localities of Navi Mumbai by big highways like Sion-Panvel Expressway and Mumbai-Pune Expressway, which emerges from Panvel.
Future plans of developing projects have been undertaken by CIDCO (City and Industrial Development Corporation). Some of themn are Panvel-Karjat railway line, Navi Mumbai Airport and Panvel railway station.
A place with beautiful attraction spots brings more investment for its locality. Navi Mumbai has many attractions in its several areas, like kharghar and panvel.
Panvel is a tourist place with many attractive spots having magnificent nature view around such as Haji malang, kamala Bird Scantuary, Elephanta caves, Prabal Gad, Raigad Fort etc. Because of these attractions, the rental rate in Panvel has increased tremendously. Investors are also not escaped from this beauty.
Kharghar Hills located between the Kharghar and belapur suburbs is densely forested and very huge, that gives an awesome view of nature and greenery. In kharghar, it is mainly attracted by people having great attachment with nature’s beauty. Monsoon adds to the beauty of these hills by making it more and more green, dense, bushy. Kharghar hills also serves as a hub for many different bird species.
Krantiveer Phadke Garden, a large park in Kharghar adds to its beauty.
There are many upcoming shopping malls in Kharghar such as Adhiraj mall, Shah Mall, Prime mall and Glomax mall which has proximity to Kharghar Station.
Since, all the factors mentioned above is influencing for the real estate investors, some markets in Navi Mumbai are still developing and there are some values which are still needed to be explored.
- Looking at all the facts mentioned about Thane and Navi Mumbai, we conclude that unlike Navi Mumbai, Thane has plethora of options in both luxury apartments for highly financed buyers to enjoy modern lifestyles and reasonable flats for moderate investors.
- Thane offers close proximity to suburbs like Bandra and Borivali and thus travel becomes seamless. Travelling from Navi Mumbai to Mumbai is much difficult and train and Vashi bridge are the only ways.
- The Reputed developers have projects in Thane which are offering good value for the investment as compared to Navi Mumbai. Keeping Panvel and Vashi in exception , not many reputed developers have shown interest in developing projects in Navi Mumbai.
Its united townships and economical establishments in all the sectors like residential, commercial, educational, industrial, connectivity, attractions and many more has led many investors to opt thane rather than Navi Mumbai for their future investments, to gain high returns in terms of Returns on Investment and live a peaceful life.