Thane Real Estate profoundly known as the 'City of Lakes', Thane is the suburb of Mumbai, which is based towards the northeast of the city. The suburb has numerous lakes, draped with greenery and well-planned infrastructure to its regard. Since it's an affordable place, the city is an ideal location for residential and commercial properties. Proximity to Mumbai, the financial center of India has increased the demand for real estate in Thane.
Over the previous years, demand for real estate properties in Thane has risen moderately. While you look at the cost survey of residential properties conducted across 11 cities in the last five years, Thane and Navi Mumbai have seen the highest percentage of hike in residential realty market across the nation.
Infrastructural Development in Thane- With the growing population in Thane, the municipal corporation is committed to improve the overall infrastructure. Infrastructural facilities in Thane are marked by extended shopping complexes, various flyovers, blooming housing projects, healthcare centers, wide roads, etc. The living standard is growing in the city with the introduction of the Station Area Traffic Improvement Scheme (SATIS). Thane is linked to Navi Mumbai via roads and trains.
Commercial Real Estate in Thane- Thane is rapidly rising as one of the fastest expanding districts in Mumbai with a plethora of corporate houses and shopping centers. Because of the space limitation and high property costs in Mumbai, IT and ITes companies are progressively moving their base to Thane in search of new office space.
When it comes to the residential sector, one can find apartments in Thane East and West at an affordable price. Property of all kinds, such as 2/3/4 Bhk apartments, independent houses, etc. are available that can be purchased for investment or for residential purpose.
According to property advisors, large number of people is choosing to stay on rent instead of purchasing a flat. However, renting the same property is much more economical as the monthly rent inclusive of maintenance and society charges. This would result in huge savings per month.
Another reason why homebuyers prefer leasing in comparison of purchasing is due to 30-35% of Thane's population has transferable jobs, which means renting an apartment will continue to be the favored decision. Additionally, a large number of the houses in the city have been purchased by people who already own real estate in Mumbai or in the suburbs.
A vast majority of people living in Mumbai are relocating to Thane. This is particularly appropriate in the case of those who are working in areas along the central line. Renting an apartment in the city works out to be an effective decision as the Central Railway's suburban railway network makes commuting to the suburbs very easy.
