Ghodbunder road joins the realty destination club
Realty developments near Ghodbunder Road, Thane, Mumbai, soar high as more and more developers flood in to construct comforting residential apartments in the area. Shortage of adequate land for a real estate development in Mumbai have created a sharp spurt among the developers, resulting in the emergence of retail, commercial and institutional projects in Ghodbunder road. Previously marked as a Green Forest Zone, the road displays immense potential for real estatew developments in the coming years.
Due to its excellent connectivity with the western and eastern express highway, the road has gained much prominence among the developers, who are making their presence felt in this location. Excellent accessibility offered by the road to other suburbs of Mumbai such as Bhandup, Mulund, Ghatkopar etc. and from Mira Road to Thane, serves as an icing on the cake. Easy connectivity with the International airport also stands out as one of the prime reasons for the rise in Ghodbunder road real estate value.
NMMT and BEST services makes travelling convenient from Ghodbunder road to Dhokali, Vashi sector-6 and Divannagar. The closest railway station from Ghodbunder road is Thane railway station, located at a distance of 17 kms. To add to its credit, Ghodbunder, the 20 km long road, includes four bridges( and two upcoming flyovers) to resolve the traffic issue. With the completion of the Monorail by 2016-17, commuting to Borivali and Mira Road will be trouble-free. Hypercity mall, R-Mall and Korum mall are some of the nearby highlights of the road. Some of the major schools like Euro School and Arunodaya Public School adds to the overall essence of the road. The nearby hospitals may include Hiranandani Hospital and Nirmiti Fertility & IVF Centre.
With around 5 million sq ft area in construction, Ghodbunder road increases the overall anticipation of the people looking for a reasonable dwelling in Mumbai. For a residential abode, the present price/sq ft ranges in between Rs 6000 to Rs 8500. A house near such a road could cost in between Rs 30 lakh to Rs 90 lakh. Generally, tenant-owned apartment houses that includes club houses, swimming pools, gym etc. are offered to the buyers in this area. Typically, the condominium apartments of 2BHK and 3BHK homes are offered to buyers looking for a space near Ghodbunder road. Some of the upcoming residential projects in this area may include residential projects by Hiranandani Group, DB Realty, Runwal Housing, Seth Developers, Neelkanth Group, Lalani Builders
In the last two years, there has been a 20 percent hike in the values of the Ghodbunder road property rates. According to property consultants and real estate experts, the price/sq ft for multistory apartments may rise up to Rs 9000/ sq ft in coming years. At present, a 250 sq ft shop in such an area can be availed at Rs 30 lakh. The rental value for corporate spaces ranges from Rs110 to Rs120/ sq ft while a single room for residential purpose can be rented at Rs9000/month and 2 BHK for Rs11000.
With rapid infrastructural growth and potential for real estate development, Ghodbunder road is soon to become one of the upcoming destinations for profitable returns on investment. Connectivity to National Highway that enables people to commute to their offices easily and increasing number of commercial growths such as corporate offices, MGM IT parks, banks etc. stands out as the foremost reasons for future real estate developments in this area.
