Its official now Thane will be connected to Mumbai through a metro service and people couldn’t be happier. The Metro 4 corridor will connect Thane and Mumbai with a modern public transport system and will have a huge impact on the development of the areas around the alignment and will cover 32 stations and be completed by 2020.
The rise of Thane
Thane is witnessing sizable demand for 1 BHK and 2 BHK apartments and even studio apartments in the luxury and premium segments along with mid-range categories. Affordable housing ventures may also gain some momentum this year on the outskirts as per experts.
Owing to planned development an efficient Municipality administration, Thane has seen a spurt in real estate development in the last decade. Once seen as forested land, even far flung areas on Thane are now bustling neighbourhoods. One has be here to experience it. Major developers like Lodha, Rustomjee, Hiranandani have chosen Thane for expand their development activities resulting to which Thane is home to some of the finest townships. Due to this growth in population the governments have actively developed the infrastructure in the region.
With the advent some major infra developments like Metro 4 Corridor, Thane-Borivali Tunnel and some well-planned gardens and waterfronts, real estate in Thane is set to rise further. According to some major real estate analysts, Thane is on the verge of experiencing a spurt in real estate prices. And with the fall in home loan interest rates, the environment is completely ripe to take advantage and invest in the region.
Impact on Real Estate
The Thane Metro network will revolutionize connectivity in the city upon its completion and will certainly boost commercial and residential development alike here. Ever since the announcement of the metro, Thane’s real estate market has been buzzing. Several prime projects have been announced by leading builders such as Lodha Amara, Rustomjee Urbania Azziano L Wing and Piramal Vaikunth Vairat among others.
The metro project will transform connectivity, lower traveling time and increase real estate values along the entire route and near it as per expectations of industry watchers. The Thane Municipal Corporation’s (TMC) proposal to develop Kharbao as the New Thane was approved on November 19. The planned city of New Thane once constructed will be a direct competition to one of the most flourishing suburbs of Mumbai, Thane. This locality has been the hub for affordable housing with over 1,100 projects here – 769 are ready to move in while 304 are under construction.
Once the metro is in place and the new developments of Thane take shape then the property investments will also reach maturity. So if you are looking to invest into a property in Thane, now is the right time.