Thane, popularly slated as “City of Lakes” is fast climbing the ladder of realty hot spot in Mumbai. In the past few years, many developers like Lodha Group and Godrej Group have launched residential project in Thane and even home-buyers are showing keen interest in parking their money in the city. Now, the question arises why the city is gaining popularity on the realty map of Mumbai? What actually has worked in its favor? Let’s unveil the fact which makes it a popular destination for purchasing a residential property.
An Emerging IT Hub – Many premium IT companies have shifted their base from Mumbai to Thane. Reasons are quite simple to guess: affordable rental prices and availability of larger land parcels. Now, IT companies like Wipro, Infosys, HCL, TCS, etc., are eagerly looking for bigger workspaces. The rental prices in posh city like Mumbai are sky rocketing. Thus, they prefer shifting base to Thane making it as an emerging service and technology industry hub. It goes without saying people prefer living near to their workplaces as it reduces commuting time.
Superior Infrastructure – Some of the reputed infrastructural projects have completed in the city in the past few years. Wide internal roads, flyovers connecting Thane to main city, betterment of existing railway station, equal distribution of water etc., are few measures taken to boost the connectivity of the area and its livability quotient. Looking from living perspective, many reputed schools and colleges are setting up base in the city. Multi-specialty hospitals, multiplexes, museums, parks, food chains etc., have increased manifold in the couple of years. Easy access to all these facilities compels home-buyers to invest money in 2 BHK and 3 BHK apartments in Thane.
Interest by Reputed Real Estate Builders – Superior infrastructure, availability of huge parcels of land and affordable land prices are few factors luring the attention of high-profile developers in Thane. Hiranandani Constructions, Godrej group, Lodha group to name a few are few builders who have started construction of residential projects in the city. Most of the projects are gated communities with civic and social amenities are easily available in the 5 KM radius. Modern amenities like club house, gymnasium, swimming pool, meditation deck, skating ring, musical classes to name a few are available within the gated community. Moreover, real estate players are coming up with all kinds of residential projects catering the needs of both MIG buyers as well as HNI buyers. Godrej Alive in Mulund Thane, Lodha Sterling, Lodha Splendora, etc., are few projects worth to invest.
Previously, Thane dotted with certain loopholes like poor connectivity, less availability of green cover and absence of civic amenities. But with time, Thane has scored well on these parameters and now the future of the city looks quite promising. So, it is easy to conclude that shortage of land with high land prices are two factors worked magically in the growing popularity of Thane as the most sought-after real estate destination to buy residential properties.