Long gone are the days when Thane was synonymous with little more than the MIDC. Today, it’s a thriving metropolis in the Mumbai Metropolitan Region (MMR) that appeals to everyone from home buyers to prominent real estate developers. Situated at the edge of the Thane creek, enveloped by the hills of Parsik and Yeoor, and defined by Sanjay Gandhi National Park on one side, Thane has become a major hotspot for residential and commercial expansion.
This is especially true for NRIs seeking real estate investment opportunities in the city, whether for financial or sentimental reasons. So. let’s take a look at the reasons why you should start looking for a flat in Thane at the earliest.
Once an industrial hub, Thane has been transformed into a haven of high-rises and uber-luxurious estates, courtesy of its strategic location, advancing infrastructure, and easy accessibility. Most of the key players, such as Piramal Realty, have either already established or are coming up with projects to elevate lifestyles and lead the way towards making Thane a vibrant megapolis. This is one of the biggest motivations behind NRIs flocking to purchase a new property in Thane.
In Tune with Nature
Nature lovers can breathe a literal sigh of relief because as developed as the region is, it’s not all concrete jungle and asphalt roads here. Instead, lush surroundings, wide-open spaces, and abundant natural endowments give the area a massive edge over the congestion of Mumbai, making it an excellent real estate destination for NRIs seeking a home away from home. Affordable Housing
Despite the impressive infrastructure and bustling townships, most property prices continue to fall within the range of ₹50 lakhs and 1.3 crores. If you are an NRI residing abroad, you may know that the rupee has taken a dive against the dollar over the last 2-3 years, implying a better buying capacity. Keen to reduce inventory levels and increase cash flows due to the pandemic, many developers in MMR are selling newly launched properties with attractive offers for the buyers. So, if there were ever a promising time to invest in a flat in Thane, it’s now!
New Job Opportunities
Thane is already a steady business hub with plenty of corporate parks and office spaces. With the rise of more corporate parks in Thane, newer and lucrative job opportunities will be on the rise too. This, in turn will attract young professionals from the surrounding areas, thereby contributing to the social diversity in Thane city and paving the way for more renowned brands and businesses to venture in.
Better Rental Income Returns
With a younger population moving towards cities for better work and lifestyle opportunities, having a home in Thane and renting it out can be quite profitable. Not everyone who migrates to a new city buys a new home; it is much more affordable and convenient for people to get a place on rent with ready to use amenities. And the presence of these amenities coupled with the convenience of accessibility and transport, the return on the rental income is set to grow.
In terms of topography, Thane has a lot of things going for it — brilliant connectivity to most of Mumbai, an ever-improving suburban rail network, and of course, the impending Mumbai Metro line that will link Thane with Wadala, Bhiwandi, and Kalyan to render intercity commute a breeze. What’s more, the Thane Municipal Corporation (TMC) has shared plans of building a Thane-Borivali tunnel, which will drastically cut down the transit time. The final flourish comes from the fact that the Navi Mumbai International Airport is under construction, allowing the city to carve a niche in domestic and international routes.
Explosion in Commercial Hubs
Whether you’re planning to invest in new property in Thane to lay down roots in your home country or create a passive source of income, proximity to bustling commercial and retail spaces is an indispensable part of every housing complex. With an abundance of malls, hotels, educational institutes, hospitals, parks and recreation facilities, lakes, markets, and other social centers, Thane has emerged as a holistic place to live.
This, by no means is an exhaustive round-up of reasons why Thane frequently features on the radar of home buyers and investors . With careful attention being paid to the city’s phenomenal growth, purchasing a flat in Thane is undoubtedly one of the wisest real estate investment decisions you can make, especially if you’re on a budget and looking for high yields.
If you are looking for a viable real estate investment in Thane, take an e-tour of the luxurious Piramal Vaikunth, a premium mixed-use property by Piramal Realty. Spread across ~32 acres, the property boasts of open green spaces, beautiful views of the lush Yeoor hills and state-of-the-art amenities.
For more information, get in touch with us today!