Top 8 Fastest-Developing Areas to Invest in Thane

The price appreciation of a property depends on how developed the area is, or if there is any upcoming project that will help boost the housing market. In Thane, Kolshet Road, Kalwa, Dhokali, and Owale are some rapidly growing areas. With evolving infrastructure and price appreciation of 5-15 percent YoY, these vicinities have surfaced as the fastest growing areas to invest in Thane.

Thane has undergone a complete overhaul on the back of a series of infrastructure developments and economic growth opportunities. Strong connectivity and expanding real estate have been considered as the primary growth drivers for Thane. RM Powar, Executive Director, Cube Ventures, shares, "Thane has experienced rapid urbanisation in the last few years. Considering the increasing density, the concerned authorities are gearing up in terms of connectivity, transport linkages, and infrastructure. The planned metro corridor to Thane by the Mumbai Metropolitan Region Development Authority (MMRDA) will aid in linking several localities in the region and thus, allure more investors.”

Areas to invest in Thane

Here are some of the fastest-developing areas that buyers may consider investing in Thane:

Kolshet Road, Thane

Located between the Eastern and Western Express Highways, Kolshet Road is a residential hub in Thane offering ample 2 BHK units. The distinguishing feature of this mid-segment area is the abundant supply of ready-to-move and under-construction housing societies by Grade A builders like Godrej Properties, Kalpataru Limited and Lodha, offering several modern amenities. For instance, Godrej Ascend by Godrej properties provides over 40 sports and lifestyle amenities, grand clubhouses and sustainable living spaces in 1-3 BHKs starting at Rs 81 lakh + government charges.

Property prices in the area have surged by around 13 percent in the last three years to around Rs 13,300 per sq ft. Moreover, proximity to various office hubs, including Ace Business Center, Kuber Business Park and ThaneOne, and Kolshet Industrial Area, has made it a popular rental hub. Monthly rentals in Kolshet Road average around Rs 30,000 for a 2 BHK apartment.

The upcoming infrastructure developments will also benefit the area and catalyse realty growth. For instance, the planned 24 km Borivali tunnel road passing through Kolshet Road will reduce the travel time to Mumbai, which is otherwise 25 km. The upcoming Mumbai Metro Line 4 linking Wadala-Kasarvadavali and the Mumbai Metro Line 5 linking Thane-Bhiwandi-Kalyan are also some mega projects on the cards, which will lift the realty sentiment in the region. Kasarvadavali is about five km from Kolshet Road, Bhiwandi is about 11 km, and the upcoming Kapurbawdi Metro Station is nearly three km away.

Conveniences along Kolshet Road include various educational institutes, hospitals and malls. Chirma Devi Waterfall, Tikuji-ni-Wadi, Grand Central Park and Masunda Lake are a few popular tourist spots near the area, catering to the recreational needs of the residents.

Kalwa, Thane

Kalwa is an affordable locality with an ample supply of ready-to-move 1 BHK and 2 BHK units. Home values currently stand at Rs 9,800 per sq ft. Monthly rentals here average around Rs 22,000 for a 2 BHK flat. The suburb has a dedicated railway station on the Central Line of the Mumbai Suburban Railway. Moreover, the Kalwa-Belapur Road and the Mumbai-Pune Highway also add to the robust connectivity.

PN Aher, Proprietor, Om Properties, Thane, shares, “Many investors tapped this locality during the lockdown as by then the plans for an elevated railway corridor to connect Kalwa Station on the Central Line to Airoli Station on Trans-Harbour Line and construction of metro lite in the locality were announced. This has already led to a substantial hike in property values in Kalwa in the last one year”.

Owale, Thane

A fast-developing area, Owale lies along the Ghodbunder Road, catering to the affordable and mid-income housing segments. Mumbai State Road Transport Corporation (MSRTC) offers excellent transportation to the rest of the city. Connectivity is set to improve further with the proposed Line 4 of the Mumbai Metro expected to get operational by 2024. The nearest metro station is proposed to be constructed at Kasarvadavali, just within four km from Owale.

The property prices average at approximately Rs 9,500 per sq ft, post a two percent YoY price hike. Rentals are slightly affordable, starting from Rs 17,000 per month for a 2 BHK unit.

Dhokali, Thane

Dhokali is a well-known locality among working professionals. It is located just three km from Lodha iThink Park, while Kolshet and Wagle Industrial Estate are within a seven-km radius. Proximity to employment hubs, such as Kolshet Industrial Area and Mulund West, drives the rental demand here. Additionally, Ghodbunder Road provides Dhokali residents with easy access to major employment hubs in Mumbai and Navi Mumbai. Thane Railway Station is about five km away, and the Chhatrapati Shivaji Maharaj International Airport is at around 25 km.

This mid-segment locality has shown approximately four percent YoY growth in property values, currently averaging around Rs 13,000 per sq ft. Monthly rentals in the area start from around Rs 18,000. Dhokali is located near the upcoming Manpada Metro Station on Line 4, connecting Kasarvadavali and Wadala. Proposed Borivali-Thane tunnel road will boost connectivity between Dhokali and Mumbai, further adding to the influx of homebuyers and investors alike.

Social infrastructure around fast-developing localities in Thane

Locality	Educational institutions	Healthcare facilities	Shopping complexes
Kolshet Road	Rainbow Pre School, New Horizon School, Singhania School	Global Hospital, Currae Speciality Hospital, Titan Hospital	DMart, Inox at R Mall, Lake City Mall
Kalwa	Orchids The International School, PG Garodia School, Blossom English School	Sapphire Hospitals, Pramila Hospital, Parsik Hospital	Lodha Boulevard, Regal Plaza, Wonder Mall
Owale	Kidzee Pre-school, Trimurti English High School, Municipal School	Shree Ram Hospital, Basupur Hospital, Dhanwantri Multispecialty Hospital	Hypercity, Big Mall, Manik Smruti
Dhokali	Daffodils Pre-school, Universal High School, Amber International School	Phoenix Hospital, Global Hospital, Highland Hospital	Super Mall, Crazy Fashion, New Super Mall
Waghbil	TMC School No. 66, Municipality School, Ashram Vidyalaya	Satabhisha Hospital, Thane Noble Hospital, Currae Gynaec Hospital	Flora Shopping Complex, R Mall, Hypercity
Karjat	Good Shepherd Convent School, KES English Medium School, Sunder English Medium School	Sub District Hospital, Mayur Hospital, Sukham Hospital	Korum Mall, Viviana Mall, R Mall
Kalyan (West)	Bhartiya English School, Shri Mahavir Jain English School, Sharda Mandir School	Phadke Hospital, Fortis Hospital, Apex Hospital	Ganesha Galaxy, My Mall, Metro Junction Mall
Badlapur	Fatima High School, Don Bosco English High School, Blossom Convent School	Spandan Hospital, Mamta Hospital, Swanand Children Hospital	Patil Arcade, Mrunal Plaza, K Sanabhai Patel Shopping Centre

Waghbil, Thane

Located close to Hiranandani Estate, Waghbil offers ready flats costing around Rs 10,700 per sq ft. The residents of Waghbil enjoy seamless connectivity to other Thane localities via the Ghodbunder Road. Moreover, Kolshet Road is an upcoming commercial area close to Waghbil at a distance of less than six km. Rentals values for a 2 BHK are approximately Rs 21,000 per month.

Jagdish Digambar, Proprietor, KN Realtors, avers, “While the current metro station is far at Saki Naka on Line 1 of the Mumbai Metro (27 km), Waghbil residents will soon be able to enjoy metro ride via Kasarvadavali Metro Station (1.9 km away) planned on Line 4 of the Mumbai Metro. Additionally, the planned tunnel between Tikuji-Ni-Wadi (5.7 km from Waghbil) and Borivali is expected to improve connectivity. These factors will bolster investors’ interest in the locale furthermore”.

Karjat, Thane

Strategically located in the middle of Mumbai and Pune, Karjat has emerged as a preferred holiday home destination among the High Net-worth Individuals, offering plots, farmhouses, villas and resorts. Moreover, the locality boasts ample ready-to-move 1 BHK and 2 BHK homes in an affordable price range of Rs 30-35 lakh. Proximity to Katraj-Neral Road (SH-79) and Chauk-Katraj-Murbad Road (NH-8) ensures connectivity with Navi Mumbai and Pune.

While the removal of Karjat from the halt station list of Mumbai-Pune Intercity Express will pose challenges for frequent commuters, the proposed Panvel-Karjat Suburban Rail Corridor will improve connectivity with far ends of the Raigad District.

Proximity to the upcoming Navi Mumbai International Airport is expected to spur realty growth in Karjat, where current property prices hover around Rs 3,900 per sq ft.

Kalyan West, Thane

Kalyan West is a premium residential locality dominated by 1 BHK and 2 BHK flats in gated societies. The area is well-served by Kalyan Junction Railway Station on the Central Line of Mumbai Suburban Railway Corridor. It is home to projects by key developers, such as Tata Housing, Mahindra Lifespaces Developers Limited and Godrej Properties, among others. While it is an already established locality, numerous upcoming developments will further add to its popularity as a residential hub.

The ongoing Mumbai Metro Line 5 (Thane-Bhiwandi-Kalyan) will enhance the connectivity quotient of Kalyan (West). There are also plans to establish a railway line connecting Kalyan to Asangaon under Mumbai Urban Transport Project (MUTP) 3A.

Satyansh Verma, a former resident of the locality, shares that “markets are at a walkable distance” and “good schools and hospitals are nearby”. While, “traffic jams” is the problems residents face, they are happy to witness that the “area is developing quickly”. The current home values in Kalyan West average around Rs 7,500 per sq ft, post an almost 12 percent price hike in the last three year.

Badlapur, Thane

With prices averaging around Rs 4,200 per sq ft, Badlapur is well-known affordable housing hub in beyond Thane region. It provides seamless connectivity to Kalyan, Dombivali and Thane. The upcoming elevated road between Mumbai and Badlapur will help reduce travel time by 30 minutes. Moreover, more buses and autos have been planned to improve connectivity to other parts of MMR. Apart from road connectivity, the upcoming metro station in Badlapur on Line 14 (Magenta Line) will provide ease of travel for residents. Additionally, Central Railways is set to introduce 15-car fast local trains running from Kalyan to Badlapur. These announcements have already led to a three percent YoY hike in home values. As they develop and add to the locality’s infrastructure, the prices will go further north, all the more piquing investors’ interest.

With real estate getting dearer in Mumbai owing to the ever-rising population, Thane has emerged as a residential hotspot. This, coupled with a massive scope of infrastructural development, has sparked the interest of real estate investors in many of Thane’s suburban locations

Also read: Smart Tips To Find The Ideal Home In Kasarvadavali, Thane

Source - www.99acres.com

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