Where to Find Good Rental Areas in Thane
Thane is an important part of Mumbai Metropolitan Region (MMR). It has several business centres of its own. With growing connectivity to Mumbai, more people working in Mumbai as well as Thane are looking for rental accommodation. Few of the fast growing areas in Thane are now proving to be good areas for rental properties in Thane. Here are a few of them.
Ghodbunder Road
Ghodbunder road is currently one of the most sought-after property markets in Thane and Mumbai Metropolitan Region (MMR). There are several factors supporting this demand. For starters, it has very good connectivity to both the eastern and western suburbs of Mumbai, as well as Navi Mumbai and other areas of Thane. There are several flyovers that improve the accessibility to different areas. The area has several BEST and NMMT buses plying regularly along the route. The area has easy accessibility to the Mumbai International Airport. Thane Railway, which is the nearest railway station, is just about 17 km away from the area. Apart from a good civic infrastructure, the area has a good social infrastructure including malls, schools, commercial centres and hospitals.
Secondly, the area commands lower capital values compared to the western suburbs of Mumbai. All these have made not only buying an apartment attractive in the area, but also renting apartments. Commonly available apartment configurations are 1 and 2BHK apartments, while there are a few 3BHK apartments too available. The approximate monthly rentals for a 1BHK is between Rs 4,500-15,000 while that of a 2BHK is between Rs 6,500-20,000. The approximate monthly rental of a 3BHK apartment is between Rs 20,000-25,000 depending on the locality and amenities.
Manpada
Manpada is another area in Thane that is proving to be a good location for rental housing. One of the factors supporting the popularity of Manpada is its affordability and its connectivity to the eastern suburbs of Mumbai. The locality is situated in Thane West near the Western Express Highway (WEH) and about half an hour from the Kensington SEZ in Powai as well as Andheri SEEPZ. WEH connects Manpada to Ghodbunder Road. The area is close to several business centres in Thane as well. A Light Rail Transit (LRT) is also planned for Manpada. Since the area is close to Ghodbunder road, several social amenities are within its reach.
One can find 2BHK apartments predominantly for rent, while there are a few 1BHK apartments too available. The approximate monthly rental of a 1BHK apartment is about Rs 4,000-14,000 while that of a 2BHK apartment is between Rs 15,000-25,000.
Majiwada
Majiwada is another fast growing area in Thane. It is surrounded by three important roads viz., Easter Express Highway (EEH), Ghodbunder Road and Thane-Bhiwandi Road. All these roads provide excellent connectivity to important business centres in Mumbai such as Powai and Chembur, and Bhiwandi in Thane. The proposed extension of the current metro line up to Kasarwadavali and Teen Hath Naka are expected to reduce the commute time from the area to the eastern suburbs significantly. The area has also witnessed a good growth in social amenities with multiplexes, malls, retailers and restaurants entering the area.
Big builders such as Rastomji and Lodha Builders have entered the realty sector here. The most common apartment configurations in Majiwada are 1, 2 and a few 3BHK apartments. The approximate monthly rental of a 1BHK apartment is between Rs 7,500-15,000 while that of a 2BHK apartment is Rs 18,000-25,000. The approximate monthly rental of a 3BHK apartment is about Rs 25,000-35,000.
With the improving connectivity and accessibility to Mumbai suburbs from areas of Thane, more people working in Mumbai and Thane are looking for rental accommodation. As a result, one may expect the rentals to appreciate in coming times.
