Why Invest in Thane Residential Projects
Mar 14, 2024Mumbai Real Estate

Why Invest in Thane Residential Projects

by Godrej Properties Limited

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The city of Mumbai, bursting at the seams, has only two options – to build vertically or expand horizontally towards New Mumbai and the region of Thane. Thane real estate was created to relieve strain on South Bombay, and it has since grown to become one of the most significant areas of the Mumbai Metropolitan Region (MMR). Today, we are going to discuss the various reasons why one should consider investing in residential projects in Thane. 

Top 10 Reasons to Invest in Thane

 1. Natural Beauty

Thane, the city of lakes, possesses an impressive background of rich cultural heritage and strategic location. Surrounded by Yeour Hills and Parsik Hills, this 128 sq. km. area is bordered by Sanjay Gandhi National Park on one side and encapsulates 40 hectares of land area. So, coming across the best property in Thane would be quite easy. 

 2. Emerging Realty Hotspot

Through the last few years, Thane has rapidly grown and emerged as a coveted hotspot for real estate developments. Homeowners actively seek homes here owing to their strategic location, excellent infrastructure, easy accessibility, relatively lower real estate rates and the city’s ongoing initiatives to upgrade their residents’ lifestyles. 

3. Physical Infrastructure Development 

Thane real estate is becoming increasingly sought after by homeowners because the area’s well-developed infrastructure and strategic location connect the city to multiple parts of Mumbai. 

 4. Excellent Connectivity

Thane is an important element of the MMR, with multiple arterial highways, flyovers, and strong access to local harbours and the central line. It provides easy access to Navi Mumbai by Eastern and Western Suburban Railways, communication via Ghodbunder Road, Thane-Belapur Road, NH-8, and the Mumbai-Nashik Highway and Thane-Belapur Road. The upcoming metro project will also encourage people to invest in real estate investing in Thane. 

 5. Social Infrastructure Snapshot 

Thane has excellent social infrastructure because of the presence of several educational institutions, amusement parks, malls, clubs, fine dining restaurants, and hospitals. Thane has quickly transformed into a self-sustaining real estate destination. And homeowners in this area also know that Thane is a great spot for property investment. 

 6. Commercial Growth Centre 

As the focal point of the MMR region and enjoying excellent connectivity, there has been a growing demand for commercial real estate in parallel to the demand for houses in Thane. Thane has thriving jobs and business prospects and is emerging as the next work destination, leading to significant demand for office space. 

7. Upcoming Smart City 

As part of Thane’s smart city vision, TCS set up its largest office in this area, spanning 3 million sq. feet with a capacity of 30,000 employees. A swelling number of businesses, especially media, IT, and other knowledge-led businesses, are setting up bases in Thane. 

 8. The Exponential Growth of Residential Property in Thane 

Grade A developers have partaken in the development of Thane and added an abundant supply of new projects in Thane. The key reason for Thane’s real estate market appreciation is the cost-effectiveness of capital value compared to Mumbai.

 9. Self-Sufficient City 

Also, Thane is a self-contained locality that is well connected to other areas and offers an influx of social and commercial infrastructure, making properties for sale here more attractive for buyers. 

 10. Upcoming Education Hub

113 hectares of land have been proposed to be allotted to reputed institutes to set up campuses imparting higher education to promote Thane as an education hub

Why invest in Bhiwandi Thane residential projects?

Bhiwandi is strategically located on the outskirts of Mumbai. Nestled along NH-848 (Thane-Bhiwandi Road) and NH-160 (Mumbai-Nashik Highway), it is perfectly positioned for growth and accessibility. This makes it a great hotspot for house properties among both investors and homebuyers. 

 

Frequently Asked Questions

1. What is the market value of property in Thane?

Answer: As of 2024, the average Thane property rate in the city's western region is Rs 13,751 per sq ft. In Thane West, flat prices range from Rs 12,000 to 17,150 per sq ft. 

2. What are the stamp duty and registration charges in Thane?

Answer: In Thane, stamp duty for males is 7% (5% stamp duty + 1% LBT + 1% metro cess), while females enjoy a reduced rate of 6% (4% stamp duty + 1% LBT + 1% metro cess) on Thane property transactions.