Proposed Infrastructure Projects That Will Re-define The Dynamics Of Real Estate In Thane & Propel Its Growth Momentum Higher.
The Maharashtra government recently passed Rs. 12,157 crores worth MMRDA projects to boost infrastructure in the state. Out of these, Rs 50,000 crores have been earmarked for Thane district for projects such as metro corridors, Mumbai Trans Harbour Link, development of flyovers, creek bridges and improving its overall infrastructure and connectivity. This will surely boost the real estate market of thane and give it a further upward momentum in terms of its growth and investments.
The Chief Minister recently performed the bhoomi pujan for the Elevated Road and Tunnel connecting Thane-Belapur road and National Highway (NH-4). The construction of this 3.5 km stretch has been promised to be completed in 40 months.
The work on Mumbai Trans Harbour Link, Metro Railway, Coastal Road, Water Transport, Ro-Ro services are also in various phases of progress and the various government organizations are determined to complete these projects at the earliest.
The biggest metro projects are in Thane and would be completed within next two to three years.
Thane is thus gearing up for its mega infrastructure deals. The flyovers at Kalyan Phata, Shil Phata, Almera Chowk, Meenatai Thackeray Chowk and Post Naka Chowk are in various stages of planning.
There has been a very long standing demand of the widening of the Kopri Bridge. Rs.90 crores has been sanctioned and Kopri bridge project will be started soon by the MMRDA.
The TMC has already proposed to have one underground tunnel from Ghodbunder to Borivali to cut travel time between thane and the city.
Besides Thane has been selected in the 98 list of the Smart City's planned. Thane Municipal Corporation is the only civic body to have completed the Impact Assessment Study of this project.
The plan for the biggest IT campus to come up in Thane with an area of 3 million sq ft has already been sanctioned. This will have an employment potential for around 25,000 people.
All these infrastructure projects will certainly redefine the dynamics of Real Estate in Thane and propel its growth exponentially.
Today Thane, especially Ghodbunder Road tops the chart for end users as well as investors as it boasts of widespread roads and highways providing seamless connectivity. Investing in any property is about investing in the right property at the right location for the correct price. Keeping these parameters in mind investing in Ghodbunder Road Thane is most ideal real estate market as it has shown a significant growth not only in infrastructural developments but also in terms of ROI for investors.
Real estate experts believe that property buyers here have enjoyed a 300% growth in the last five years! Economic advisors and analysts suggest an estimated 40% increase of employment opportunities in the Mumbai Metropolitan Region (MMR), including Thane. Such a predicted hike in jobs would entail a major increase in the demand for housing and subsequently could generate further capital appreciation for real estate investments in Thane.
Consequently the residential, commercial and the retail sector here has seen a good appreciation in terms of principal appreciation as well as rental income. Thus today Thane tops the chart for home buyers and investors in the affordable as well as luxurious segment which has resulted in various eminent developers shaping its landscape by creating iconic landmarks in par with global standards.