Infra boost gives a leg-up to housing
Editor | February 22, 2017 @ 04:50 PM
Mumbai
Infrastructure development and new commercial establishments have created an ideal scenario for building affordable homes in Thane. Fuelled by a rise in demand for homes, besides limited supply of land and rising cost of property prices, most homebuyers have been forced to look for options beyond Mumbai.
In this regard, the nearby city of Thane, which has ample land supply and offers better connectivity, has been providing an alternative option. In a short span, the city has been providing some exquisite home-buying options, which includes affordable as well as luxurious properties.
As per the realty experts, apart from being an affordable destination, the city has turned out to be a luxury hotspot among the buyers and investors alike. The residential development has been further intensified by infrastructural growth.
Thane has witnessed massive residential and commercial development in the past few years. The construction of Navi Mumbai International Airport would prove to another game-changer, point out realty experts. Infrastructure growth has also been taking place at a rapid pace, a prime reason for the development of the city. Along with better roads, emergence of metro and monorail will further improve the connectivity.
There are many new infrastructure developments proposed for the city to enhance connectivity. These projects will make Thane one of the most desirable location in Mumbai Metropolitan Region (MMR). It is expected that these developments to continue at a faster rate in the next five years. Along with basic infrastructure, social infrastructure has and will continue to grow.International schools, medical facility at par with global standards, stadium, shopping malls and theme parks have added a new appeal to the city.
Thane is well connected with the Andheri and Borivali via road and rail. The Eastern Express Highway and LBS Marg connect it with eastern suburbs while the Western Express Highway and ThaneBelapur Road connect it to western suburbs and Navi Mumbai respectively. Two mono railway lines are also proposed which will connect Thane with Dahisar and Kalyan respectively.Currently, work is in progress for seven flyovers connecting Thane with Dahisar, Ghodbunder and Bhiwandi.Internal transportation system is quite good and with government initiative like SATIS (Station Area Traffic Improvement Scheme), commuting has improved. Social infrastructure is also in place with existence of hospitals, education institutes and hotels.
Unlike Mumbai, Thane has vast expanse of land available for development.
This coupled with infrastructure development and commercial development has created an ideal scenario for building affordable homes.
A number of projects offering affordable homes with an array of facilities and amenities have come up in this city. This is an ideal location for investment for new home-buyers who wish to own a decent residential space with all the amenities and facilities without missing on the basic and social infrastructure.
After the shortfall of land and the rising prices of property in Mumbai, the demand for homes have shifted to neighbouring cities. But in the last 10 years, rapid development has taken place in terms of infrastructure in these cities, which has resulted in a spike in the realty scenario of Thane.Though affordable housing concept still exists, but Thane is also gradually turning to be a luxury home destination for buyers. For instance, 10 years ago, the stretch of Ghodbunder road was not at all.
But now if one sees, concretised roads, number of flyovers, shopping malls and huge residential complexes have come up. Despite Ghodbunder Road being located far from the station, it has become an easily accessible destination for residents.
Source: Times Property, The Times of India, Mumbai
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