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Thane is India's principal real estate gateway for selling and buying prime properties. There are different kinds of properties available in the Thane real estate market ranging from investment plots, small apartments down to luxurious bungalows, and almost all of them have come up good.
Before choosing an apartment in Thane, for your purpose, it is pretty important that you pick the profitable locations and rely on experienced builders, so that you get the most out of your investment in short as well as long run.
Property Prices in Thane
Most of the apartments in Thane area are 2 and 3 BHK houses intended for occupation by a family or a group. They are available in a wide range of prices, starting from as low as 20 to 25 lakhs and going up to prices as high as several crores.
Prices of rented apartments for business class executives and the service apartments are far higher than the regular apartments. In case you want to invest in a Thane property and letting it out, you may consider investing in a serviced apartment too.
There are various investors and big construction companies operating in Thane real estate market. They have built countless properties to date, and relying upon an experienced builder, rather than blindly investing in a fairly new real estate project, always ensures better chances of higher returns on your investment.
Real Estate Developers in Thane
Hiranandani Developers Pvt. Ltd is the most prominent developer in Thane property market. They have done 15 quality projects to date, and we assume, everyone must have seen the class of their buildings in the Bollywood blockbuster “Ghazini”. (Where Aamir Khan supposedly lives!)
They have been around for years and are well known for high quality work. Currently, the acclaimed builders are expanding even in Bangalore with three new projects featuring luxurious villas, row houses, as well as apartments and commercial spaces.
Cosmos group is another popular real estate developer in Thane that has a really solid portfolio.Other renowned designers, builders, and construction companies in this area include Runwal Group, Rustomjee, Haware engineers and builders, Vakratunda Group, Abrol Builders, Dynamix Balwas Group, Kalpataru Properties Pvt. Ltd, and Kanakia Spaces.
You can also spot construction by many other local builders like Puranik and Vijay developers that have established a decent rapport in the Thane property market. Each of these companies is specialized in constructing different apartments; so, it is a good idea to inspect each company's work for finest apartments in the city. Who knows you may lay your hands on just the best!
Recent Market Trends
When you look at the Dombivli East region, the pricing has marked a steep increase, and at the end of Jan-Mar 2011 quarter, the average cost of residential properties was in the bracket of Rs. 3500-4000/ sq.ft. marking roughly 15% increase from Rs. 3300-3850 in the previous quarter.
Thane property rates in the western side have shot up from Rs. 6850 per sq. ft. to Rs. almost 7400 per sq. ft., marking another significant increase of more than 10% within a quarter. The uptrend is sustaining well at the moment, despite all the economic slowdown, IT market crash rumours, and steep depreciation of Rupees against Dollars and Euros.
Approximate Residential Prices:
Kolshet Road – INR. 4000-4500/sq.feet
Godhbunder Road – INR. 3000-6000/sq.feet
Kopri (Thane East) – INR. 5500-6000/sq.feet.
Thane (W) – INR. 4500-5000/sq.feet.
The above mentioned rates are expected to inflate by another 10-15% soon. You may, therefore, consider investing such prime properties before the market gets totally saturated.
Looking at a long-term perspective, Thane property market is really promising, and at this point of time, this area still touts firm as an affordable choice in Mumbai.You can expect a steady rise in Thane real estate property rates over the next two to five years on account on the ever-increasing demand. Thane still ranks good in terms of popularity amongst the home purchasers, especially those who are looking for somewhat reasonably-priced housing solutions in Mumbai’s Eastern borders.
Another major advantage you are blessed with is the luxury of serene environment and the relatively low traffic congestion and pollution with respect to the bustling Mumbai rush!
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