With the options of buying affordable housing and improving infrastructure, Thane has come up as one of the most profitable regions in the Mumbai Metropolitan Region (MMR) for real estate investors. The Jul-Sep quarter observed the maximum economical stock in Thane across MMR. Here are the top five emerging locations to invest in Thane which are expected to deliver high returns on investment in 2019.
The present real estate scenario in Thane is taking a paradigm shift. The Real Estate (Regulation and Development) Act (RERA), the Goods and Services Tax (GST), its application brought in transparency and accountability to the sector and increased homebuyers’ confidence. The real estate market of Thane is awaited to evolve with each passing quarter in the future.
The suburb has undergone a complete restoration on the back of a series of infrastructure development and economic growth opportunities. Strong connectivity and flourishing economy have been considered as the main growth drivers for Thane. RM Powar, Executive Director, Cube Ventures, shares that Thane had experienced rapid urbanisation in the last few years. Considering the increasing bulk, the concerned authorities are rising up in terms of connectivity, transport linkages, and infrastructure. The recent approval to a metro corridor to Thane by Mumbai Metropolitan Region Development Authority (MMRDA) will help in connecting several localities in the regions and, thus attract more investors.
Today, the emerging suburb Thane, fulfils the expectations of homebuyers looking for a home across budget categories. Integrated townships, including high –rises, have been on a rise in the region, adding to the numerous options that the buyers have. 99acres.com enlists the top five emerging locations in Thane investors can put their money to earn decent returns in 2019.
Top emerging locations in Thane in 2019 :-
Badlapur has position of one of the most economical residential hubs in Thane. With an average ‘ask’ rate of Rs 3,650 per sq ft, it has become a viable investment for homebuyers looking for good returns in future. Several planned infrastructure projects accompanied with competitive capital values are driving the housing demand in Badlapur. In the recent past, the MRVC has approved two more railway lines between Kalyan and Badlapur, estimated to cost Rs 1,387 crore.
The strong infrastructure and transport linkages have termed Manpada as a preferred residential destination among homebuyers. With the increasing base of commercial hubs and planned connectivity links, the locality has evolved into a major destination for affordable-to-mid range residential options.
Ghodbunder Road is one of the fastest growing areas in Thane. The area survives on the support of affordable housing options combined with reputed hypermarts, educational institutions, shopping malls, hospitals, bank branches and many entertainment options. Swift connectivity to Mumbai’s Eastern and Western Express Highways is another reason for people trying to make investments in this region. The area offers a mix of residential options ranging from mid-income to high-income segment. The locality is the most suitable for those who travel frequently to Mumbai.
Another promising residential hub, Majiwada serves the housing needs of homebuyers across budget segments and property configurations. Apartments configured as 1 BHK units have continued to top the popularity list of buyers in Majiwada. The region observed several new launches in the previous quarter ending September 2018. Majiwada is poised to witness overall growth with more builders entering the region with new residential projects in the quarters to come.
Ambernath, an arising residential place, became popular among investors due to price-competitive housing options in the recent quarters. The region is packed with pocket-friendly apartments, superior connectivity and nearness to other parts of MMR. Proposed infrastructure projects and commercial hubs in proximity are expected to fuel the real estate sentiment in the region. Reputed real estate developers are expanding their presence, targeting low and mid-income homebuyers in the region.
The residential projects in Kalyan are mostly situated near to Kalyan rail junction and commercial hub as well. A proposed branch of Mumbai University is set to be established, which will soon raise the demand for rental options in the area. Compared to Dombivli, transportation facilities here are excellent which make travelling easier, both by public and private modes of transport.
All these areas in Thane have gradually turned out as the primary choices of prospective homebuyers in terms of residential, commercial and retail spaces, together with the right combination of socio-civic infrastructure and plush amenities.