Thane May Be The Best Place for 2 BHK Properties
If you are planning to buy a 2 BHK property in Mumbai, Thane may be currently the best choice. Thane not only offers a wide variety of choice for various sections of the society, but also caters to buyers who may have a limited budget.
Emergence of Thane as preferred locality
As Mumbai started becoming more populated over time and started reaching a saturation point in residential and commercial development, demand started shifting towards its suburbs and the Mumbai Metropolitan Region (MMR). Hence, Thane was developed. Thane has come a long way since then and has today become one of the most preferred residential areas in Mumbai.
There are several other reasons why Thane became a popular destination for prospective home buyers. The suburb offers excellent connectivity to Mumbai via three highways viz. NH-3, NH-4 and the Eastern Express Highway. It also has open spaces and large layouts. This is very popular among people as most of them prefer to live in integrated townships where all social amenities are within reach.
Thane: A middle class destination
Thane is considered popular among the middle class. The most supplied units here are 2 BHK units. According to data, the second quarter of 2013 (April-June) showed that more than 45% of units supplied in Thane were 2 BHK multistorey apartments. The localities with highest supply were Manpada, Majiwada and Ghodbunder road. The cost of the properties however vary with the locality.
In recent years, Thane has slowly started moving out of the range of affordability, though there is a good supply of 2 BHK units. Majiwada is currently the highest priced locality among the three key localities. A 2 BHK apartment may cost anywhere between Rs. 1 – 1.4 crore here. If one’s budget is a bit less than Rs. 1 crore, they can also look at Manpada to buy a property. However, if the budget is considerably less than that, Ghodbunder Road may be the best option where the price range is between Rs. 60 – 80 lakhs.
Localities beyond Thane
While Thane has started moving out of the affordability range, there are still a few areas in Navi Mumbai that have a good supply of 2 BHK units and can be called affordable. Some of them are Kharghar, Kamothe and Ulwe. 2 BHK units are available in these areas within the range of Rs. 36 – 85 lakhs. However, if one is looking for a property within the proximity of Mumbai, Thane may be the best bet.
