State Highway 42, often cited as Ghodbunder Road (or GB Road), is a major road leading out of Thane, a suburban district in Mumbai. It is 20km long, and runs along the entire stretch of Thane, linking two main arterial roads of Mumbai, the Eastern Express Highway that begins at Sion and ceases at Thane, and the Western Express Highway that goes on to become the National Highway providing a route to Gujarat.
The road passes through Salsette Island, painting a picturesque view of the Yeoor Hills and the Thane creek. The road also perforates a part of the Sanjay Gandhi National Park and hems past the Vasai creek. The GB road meanders through dense forests, and the views from this route are nothing short of pictorial and arresting. The scenic landscape along this circuit has contributed to the sharp rise in real estate in this area over the past few years.
The area encompassed within the 20km stretch of the GB road is peppered with a number of schools and colleges, including Hiranandani Foundation School (HFS), Sri Ma Vidyalaya, and Tatvagyan Vidyapeeth. Also, multispecialty hospitals and polyclinics, and large contemporary malls are scattered along this area.
Connectivity and Transit Points
Being a prime real estate destination in the Mumbai Metropolitan Region (MMR), the popularity of this area is further mobilised by means of a highly efficient transit system. This area takes pride in its dynamic and well-organised bus service, with a wide variety of buses like BEST (Mumbai City Bus) and TMT (Thane Municipal Transport) connecting the district of Thane to other focal points in the city.
Travelling within the area of Thane is hassle-free, thanks to the auto-rickshaws. With fares starting at Rs 15, autos are a feasible option for commuters who are familiar with the inner roads of the district.
Taxis (both AC and Non-AC) are also available in this locality, providing services to the Mumbai Airport, local train stations at Thane, Borivali, Bandra, Dadar, and the main railway stations such as Chhatrapati Shivaji Terminus and Mumbai Central.
● Sanjay Gandhi National Park
● Vasai Creek
● Ghodbunder Village
● Ghodbunder Fort
Factors for Growth in the Past
What used to be sprawling paddy fields and abandoned industrial plots have recently been converted into mass housing projects, with high-rise apartments being developed by the construction moghuls such as Lodha and Hiranandani.
The scenic Ghodbunder Road, in conjunction with growing residential, commercial, retail and infrastructural development has led to a massive population growth in this area, with the size of the district increasing tenfold in recent times.
Residential & Commercial Market
Residential Market Trends
The area encompassed within this road is currently ‘hot property destination’ in Mumbai, with a variety of options available. The current sale trends for individual houses and bungalows in this locality range from Rs 30 -95 lakh.
Also available in this area are condominium apartments for rent in Ghodbunder Road , with amenities such as swimming pools, gymnasiums and supermarkets within the compound itself. While a single room costs approximately Rs 9,000 per month, 2 and 3 BHKs can be rented at a price ranging from Rs 11,000-30,000 per month.
Commercial Market Trends
The commercial rates of Ghodbunder Road are on the steeper side, with capital values starting from Rs 9,000-13,000 per sq.ft. Commercial spaces on the main road (Manpada Ghodbunder Road) cost about Rs 1.5 crore, while the ones located within the residential areas would cost about Rs 30 lakh.
Rental prices of commercial outlets fall within the brackets of Rs 70,000 to Rs 3 lakh.
Ghodbunder Road consists of four simultaneously operating flyovers, which has led to a massive increase in traffic, posing a problem to residents. Apart from congested roads, heavy traffic has given rise to intensification in dust and noise pollution.
Fluctuations in electricity accompanied by long power cuts, irregular water supply due to choked pipes, improper garbage collection leading to unhygienic surroundings, and petty crimes, continue to vex the residents.
Factors for Growth in the Future
The Thane Municipal Corporation (TMC) has grand plans for the future of Ghodbunder Road. They plan on widening the service roads off GB, thus ensuring smoother movement of traffic. They also plan on implementing a Slum Redevelopment Scheme (SRD) to better the slums in the area.
To reduce the incidence of minor injuries and fatal accidents that occur frequently in this area due to the busy roads and incessant traffic, Maharashtra State Road Development Corporation (MSRDC) has approved the construction of ten foot-over-bridges (FoBs) with escalators, to ensure safety of walking commuters.