Top Fastest Growing Areas to Property Investment in Thane

The amount of debt a property is owed for depends on how developed the area is or whether any projects are in the works that would boost the housing market. Kolshet Road, Kalwa, Dhokali, and Owale are a few Thane neighbourhoods that are expanding quickly. These districts have emerged as the fastest-growing places to invest in property in Thane due to their expanding infrastructure and 5- 15% YoY price increases.

Thane has endured a dramatic makeover as a result of several infrastructure improvements and prospects for economic expansion. The important development drivers for Thane have been recognized as excellent connectivity and rising real estate. Thane has rapidly urbanised in recent years, according to RM Powar, Executive Director of Cube Ventures. The involved authorities are formulating connectivity, transport links, and substructure in light of the rising concentration. The Mumbai Metropolitan Region Development Authority's (MMRDA) proposed metro corridor to Thane will help unite numerous communities in the area and entice new investment.

Situated between the Eastern and Western Express Highways, Kolshet Road is a residential centre in Thane offering ample 2 BHK units. The unique feature of this mid-segment area is the plentiful supply of ready-to-move and under-construction housing cultures by Grade A builders like Godrej Properties, Kalpataru Limited and Lodha, giving several modern facilities. For instance, Godrej Ascend by Godrej properties advances over 40 sports and lifestyle facilities, grand clubhouses and justifiable living spaces in 1-3 BHKs starting at Rs 81 lakh + government charges.

Property charges in the area have coursed by around 13 per cent in the last three years to around Rs 13,300 per sq ft. Furthermore, proximity to various office hubs, including Ace Business Centre, Kuber Business Park and Thane One, and Kolshet Industrial Area, has made it a general rental hub. Monthly expenditures in Kolshet Road typically around Rs 30,000 for a 2 BHK flat.

Kalwa is a reasonable locality with a plentiful supply of ready-to-move 1 BHK and 2 BHK units. Home morals presently stand at Rs 9,800 per sq ft. Scheduled rentals here average around Rs 22,000 for a 2 BHK flat. The area has a devoted railway station on the Central Line of the Mumbai Suburban Railway. Furthermore, the Kalwa-Belapur Road and the Mumbai-Pune Highway also enhance to robust connectivity.

PN Aher, Proprietor, of Om Properties, Thane, shares, “Many investors appointed this locality during the lockdown as by then the strategies for an elevated railway strip to connect Kalwa Station on the Central Line to Airoli Station on Trans-Harbour Line and structure of metro lite in the area were stated.

Property values in this mid-segment neighbourhood have increased by around 4% YoY, with an average price of Rs 13,000 per square foot at the moment. Charges in the region begin at about Rs 18,000 per month. The future Manpada Metro Station on Line 4, which connects Kasarvadavali and Wadala, is not far from Dhokali. By improving communication between Dhokali and Mumbai, the projected Borivali-Thane road will increase the flow of both investors and homebuyers.

Dhokali is a famous locality among working professionals. It is situated just three km from Lodha think Park, while Kolshet and Wagle Industrial Estate are within a seven-km radius. The demand for rentals in this area is influenced by its proximity to job centres like Mulund West and Kolshet Industrial District. Moreover, Ghodbunder Road provides inhabitants of Dhokali with quick access to important employment centres in Mumbai and Navi Mumbai. The distance between the Chhatrapati Shivaji Maharaj International Airport and Thane Railway Station is approximately 25 km and 5 km, respectively.

Property values in this mid-segment neighbourhood have increased by around 4% YoY, with an average price of Rs 13,000 per square foot at the moment. Rents in the region start at about Rs 18,000 per month. The future Manpada Metro Station on Line 4, which connects Kasarvadavali and Wadala, is not far from Dhokali. By improving communication between Dhokali and Mumbai, the projected Borivali-Thane tunnel road will increase the flow of both investors and homebuyers.