Thane is one of the older areas on the outskirts of Mumbai. Due to saturation in the property market in Mumbai, home buyers have shifted to Thane for affordable options. Thane is one of the few cities...
Thane is one of the older areas on the outskirts of Mumbai. Due to saturation in the property market in Mumbai, home buyers have shifted to Thane for affordable options. Thane is one of the few cities where prices of flats being resold are as high as those of new flats. The main reason behind such a phenomenon is that the flats being resold are also under construction and have not been lived in. Capital values in Thane have been appreciating at a rate of 6 to 7 percent every year, making it an affable investment destination.
The top three areas of Thane that attract investment are:
Asangaon
Located along the Nashik-Mumbai Expressway, Asangaon is a part of the Thane district. It is around 70 kilometres from Mumbai via the Expressway. The neighbourhood his still being developed and hence the prices of flats here are lesser than those of prices of flats for sale in Thane City. Currently the micro-market has 1 and 2BHK apartments for investment, priced from Rs 20 to 30 lakhs. These flats range from 450 to 1200 sq. ft. in terms of carpet area. A few 1BHK flats are available within Rs 10 to 15 lakhs even.
Asangaon is served by its own Railway Station and houses 400 manufacturing companies. The railway station is connected to the Central Line of Mumbai’s Suburban Railway Network. Investing the area would definitely prove to be beneficial, but only after 2 to 3 years.
Ghodbunder Road
Ghodbunder Road begins at Borivali in Mumbai and continues on to Thane City. It is around 20 kilometres long and links the Western and Eastern Express Highways. The road is accessible from several micro-markets in Mumbai such as Bhandup, Mira Road, Ghatkopar and Mulund. Ghodbunder Road has a lot of fresh inventory that includes unoccupied pre-owned flats for sale in Thane. The area will also be served by the metro railway that shall be extended to Kasarvadavali from Wadala. The high availability of land parcels has fuelled developers to start new housing projects along Ghodbunder Road. These projects cater to a wide budget range. Property prices along Ghodbunder Road are around Rs 50 to 75 lakhs.
Kalyan
Kalyan is a town located in Thane district. Kalyan has its own municipal corporation- the Kalyan Dombivali Municipal Corporation which takes care of day to day welfare of the area. The area has its own railway station, connected to the Mumbai Suburban Railway Network. The KDMT operates buses within the city for easy commutes. There are several areas in Kalyan where one can consider investing such as:
Capital values in Kalyan are roughly Rs 5800 per sq. ft. and the annual rate of capital appreciation is 1.7 percent. Flats for sale in Thane Kalyan are priced usually less than Rs 50 lakhs for a 2BHK unit. These apartments are mostly in gated communities whose development has been spearheaded by reputed companies.
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