Viable Investment Options in Thane West
Mumbai is increasingly getting saturated in areas that earlier provided good return on investment. However, as you move away from Mumbai, there are areas in Thane that promise good ROI. This is specifically true for areas in Thane West due to the proximity and connectivity to Mumbai. Here are some areas in Thane West that are good options for real estate investments.
Majiwada
Majiwada is a strategically located area in Thane West. It lies at the point where Ghodbunder Road, Lal Bahadur Shastri Marg (earlier Old Agra Road) and Eastern Express Highway (EEH) intersect. These roads provide excellent connectivity to Mumbai, Navi Mumbai and other cities in Maharashtra as well as India. There are Thane Municipal Transport (TMT) buses that run at regular intervals. The area has a good social infrastructure as well. There are several schools and colleges as well as temples. There are also retail stores such as Big Bazaar and McDonalds as well as malls such as Lake City Mall. There is another mall coming up near EEH.
Prominent developers such as Lodha Group and Rustomjee have their projects in this locality. The present property prices in Majiwada are approximately Rs. 10,700-11,600 per sq.ft. The area has seen a continuous price appreciation over a year. Due to the already present facilities and a growing infrastructure, Majiwada promises future appreciation and a good return on investment.
Patlipada
Patlipada, in Thane West, lies between Ghodbunder Road and Sanjay Gandhi National Park. Ghodbunder Road is a very important road that connects this locality to different parts of Thane, Navi Mumbai and Mumbai. The locality, once a small village, has rapidly transformed into a residential town. There are BEST, TMT, MBMT and MSRTC buses that run regularly within the area as well as between this locality and different parts of Thane and Mumbai. The locality is also about 6-7 kms from the Thane railway station.
The locality has a good social infrastructure with schools and colleges that offer ICSE syllabus. There are hospitals, banks and ATMs, retail stores, restaurants and an amusement park. There are also malls and multiplexes at walkable distances.
All these facilities have given a boost to the real estate market here. There are already residential projects such as Hiranandani Estate, Nisarg Tapovan, Rutu Towers and Prakruti Park. The current property prices are in the range of Rs. 10,600-11,900 per sq.ft. The property prices saw an appreciation of 6% in the last quarter and will continue to see a healthy appreciation in near future.
Pokhran Road
Pokhran Road is again strategically located along EEH and Ghodbunder Road. It is a fast developing area and is witnessing a healthy price appreciation. EEH connects the locality to the eastern suburbs and South Mumbai while Ghodbunder Road connects the locality to western suburbs of Mumbai as well as other parts of Maharashtra. In fact, one can reach business centres such as Powai SEZ and SEEPZ through EEH and other arterial roads such as JVLR. Pokhran Road is also in proximity to Ambarnath and Dombivali, which are important business centres in Thane.
The locality has basic amenities and is seeing rapid infrastructure development. Pokhran Road 2 is greener and has better infrastructure than Pokhran Road 1. This has attracted more customers and has resulted in more demand in that locality.
Pokhran Road has seen a good number of project launches from developers such as Kalpataru, Hubtown Group and Dosti Group. The average property prices in the area is approximately Rs. 10,900-11,200 per sq.ft. The last quarter saw a hike of 20% in property prices over the last year. One can buy a property here from the perspective of long-term investment.
Hence, if you are planning to invest in a property outside Mumbai, these areas in Thane West are good options.
