Thane- Kalyan and Dombivli most preferred due to low prices and good connectivity
Affordable housing units, excellent connectivity to various employment hubs, along with planned infrastructure enhancements drive the demand for residential homes in Thane. Areas including Dombivli, Kalyan, Ghodbunder Road, Ambernath, Badlapur, Western Thane (Near Teen Hath Naka), Majiwada, Kolshet, Vartak Nagar, and Bhiwandi have been rated as the most popular localities in Jan-Mar 2020 quarter by PropIndex, an apartment index recently released by Magicbricks.
Dombivli is a suburb north of Thane city, known for affordable housing developments, offering a mix of residential, industrial, as well as commercial properties. Dombivli locality has emerged as a major choice of middle- income and budget home buyers in Thane, owing to an excellent social and retail infrastructure comprising of schools and colleges, banks, hotels and restaurant, hospitals, and malls and shopping centres. Further, Dombivli enjoys close proximity and good connectivity to employment hubs within industrial and commercial areas of Dombivli, Navi Mumbai, Kalyan, Bhiwandi, and Mumbai. The capital values in Dombivli range from Rs 4,200- 8,550 per sq. ft.
Kalyan is predominantly a residential suburb adjoining Dombivli, known for low cost housing projects favoured by the low- to- medium- income, as well as budget home buyers. Kalyan has a great social and retail infrastructure consisting of schools and colleges, banks, hotels, hospitals, and malls; along with good public transport infrastructure through Kalyan Dombivli Municipal Transport (KDMT) buses and an upcoming Metro Rail planned between Thane, Bhiwandi and Kalyan. Further, Kalyan enjoys close proximity and good connectivity to industrial and commercial areas of Dombivli, Thane, Bhiwandi, Ambernath, and Ulhasnagar, thus attracting employees in these employment hubs. The capital values in Kalyan range from Rs 3,150- 8,100 per sq. ft.
Ghodbunder Road is 20 km long road offering excellent connectivity with Mumbai, and adjoining suburbs of Mira- Bhayandar through the Eastern Express Highway and Western Express Highway. Ghodbunder Road locality has emerged as a hotspot attracting home buyers in Thane, ascribed to the adequate social and retail infrastructure comprising of schools, hospitals, banks, hotels, restaurants, malls and shopping centres; along with easy access to employment hubs within Mumbai, Navi Mumbai and Thane. The capital values in Ghodbunder Road range from Rs 7,200- 12,750 per sq. ft.
Ambernath is a suburb in Thane, offering affordable housing developments targeting the mid-housing home buyers. Housing an MIDC industrial area; and proximity to other industrial areas in Thane and Navi Mumbai, Ambernath attracts a large group of home buyers employed in these areas. Further, a good social and retail infrastructure, coupled with a good connectivity through Badlapur- Katai Road, Kalyan-Badlapur-Road, and Kalyan- Shil Road. MSTRC buses, along with a good frequency of auto rickshaws plying in these areas, offer greater connectivity to nearby employment hubs. The capital values in Ambernath range from Rs 3,450- 4,900 per sq. ft.
Badlapur is a suburb in Thane, offering affordable housing developments targeting the low- to mid-income home buyers. The presence of Badlapur MIDC industrial area, and proximity to other industrial areas in Thane and Navi Mumbai, drives the demand for homes in this area. Further, Badlapur boasts of adequate civic amenities, and good connectivity through central line, Badlapur- Katai Road, Kalyan-Badlapur-Road, and Kalyan- Shil Road. MSTRC buses, along with a good frequency of auto rickshaws plying in these areas, offer greater connectivity to nearby employment hubs. The capital values in Badlapur range from Rs 3,150- 4,550 per sq. ft.
Western Thane (Near Teen Hath Naka)
The Western Thane area near Teen Hath Naka is a premium residential and commercial locality, comprising of low, mid and high-rise apartments in the upper mid- segment, majorly driven by a close proximity to Thane’s social and retail infrastructure including schools, hospitals, and malls. This area has emerged as a prime location in Thane owing to its excellent connectivity to the Eastern Suburbs of Mumbai, as well as the employment clusters in Thane such as Wagle Estate, and Olympus Centre (TCS), among other locations, through the Eastern Express Highway and LBS Marg. The capital values in Teen Hath Naka range from Rs 9,150- 19,100 per sq. ft.
Majiwada is an upmarket area in Thane comprising of mid- to high-end residential developments in the recent years. It is favoured by many home buyers ascribed to its excellent connectivity to Mumbai, and industrial areas in Thane district, through the Mumbai Agra Highway (NH3). Further, BEST and TMT (Thane Municipal Transport) buses also ply for enhanced last mile connectivity within Majiwada. Additionally, employment hubs incorporating various companies including IT/ITeS, trading, chemical, industrial manufacturing, and others operating offices in proximity to Majiwada, make it an ideal choice of employees for home buying. The capital values in Majiwada range from Rs 8,400- 13,600 per sq. ft.
Kolshet is centrally located between Thane East and Thane West, offering connectivity to Mumbai, Bhiwandi, and Western Suburbs such as Mira- Bhayandar and beyond, through the Eastern Express Highway, Western Highway, and Ghodbunder Road. Over the years, Kolshet has evolved from an affordable housing area to a high- end locality, owing to a growing preference of professionals towards gated communities. Being a predominantly residential locality, it boasts of a great social and retail infrastructure, along with public transport with good frequency. The capital values in Kolshet range from Rs 8,850 -14,250 per sq. ft.
Vartak Nagar is centrally located between Wagle Estate, JK Gram, and Kapurbawdi. It offers connectivity to Mumbai, Bhiwandi, and Western Suburbs such as Mira- Bhayandar and beyond, through the Eastern Express Highway, Western Express Highway, and Ghodbunder Road. Vartak Nagar comprises a wide range of residential developments from affordable housing schemes to high- end apartments; ascribed to proximity and good connectivity to employment hubs. Being a predominantly residential locality, it boasts of a great social and retail infrastructure, along with public transport with good frequency. The capital values in Vartak Nagar range from Rs 9,100 - 15,150 per sq. ft.
Bhiwandi is known as an industrious town near Mumbai, incorporating various textile industries and having the largest number of power looms in the country, along with being a logistics hub housing warehouses of various e-commerce, retail and other companies alike. During the last few years, Bhiwandi has emerged as a secular town with proper civic administration and basic social and retail infrastructure in place, essential for a residential habitat; thus attracting a large number of budget home buyers, as well as employees in the transport, textile, and logistics sectors. It’s close proximity to commercial areas of Thane, Mumbai, Navi Mumbai, Kalyan- Dombivli, and Vasai- Virar, coupled with good connectivity to these places through railways, and MSTRC buses, has driven the real estate market in Bhiwandi. The capital values in Bhiwandi range from Rs 3,400- 5,850 per sq. ft.
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