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Apartment in Thane


Thane has undergone a makeover from being an industrial town with affordable residential housing. Today it has become popular as an IT hub and relatively up market residential destination. Various infrastructural initiatives by the government executed under the nodal development authority, Thane Municipal Corporation (TMC), have greatly enhanced the connectivity of Thane to the prime business hubs of Mumbai and Navi Mumbai.

Thane has been known for offering housing to both high income and mid income groups. One of the major reasons for the interest of both investors and home dwellers has been great connectivity Thane offers and the underlying infrastructure. Places like Old Thane and Pokhran Road has seen a rise in number of apartments recently. Ghodbunder Road has seen a large number of buyers due to access to the Eastern and Western Express Highway. The apartments and flat prices in Thane have escalated where Thane West property range between Rs. 10,150 – Rs.11, 120 per sqft. On the other hand, the east Thane property rates stand at Rs.8000 to Rs. 9350 per sqft. 2BHK flats continue to remain the most sold in both Thane East and West. With the latest judgment by the High Court with respect to allowing the barren forest land to be used for residential and commercial purposes in and around Mulund area, the chances for the appreciation of the prices of the flats for sale near Thane Railway Station is mostly expected.

Apartments in thane are lucrative investment options as Thane is emerging as the latest real estate investment hotspot. The property needs of people living have been growing since the last decade. Developers and builders have offered a variety of options to customers in terms of configuration, facilities and amenities. This has made Thane an inspiration for other residential project companies. Of late the flats in Thane has witnessed a phenomenal development in terms of the infrastructure and the property launches earning a good level of appreciation of 10-15% and even more every year. In fact the property trends in Thane and nearby areas has witnessed 4-6% rise in the average capital values of new residential projects launched. Apartments in Thane have been known for two attributes; Lifestyle properties and eco friendly surroundings and offer configuration options like 2BHK, 3BHK and villas.

Thane now offers good leisure and entertainment options with operational malls such as Korum Mall, Eternity Mall and R Mall. These malls house large national retailers like Star Bazaar, Westside, Shoppers Stop, Pantaloons, Reliance Trends and Globus along with various international brands. With the opening of Viva City Mall by Sheth Developers, which will be the largest mall in Thane, resident’s will have more options to choose from for both shopping and entertainment.

Sumit Kapoor is an experienced author with keen interest on flats in Thane, apartments in thane topic having a number of articles to his credit based.