Real Estate Market In Thane

What are the reasons or factors that provide Thane an attractive destination for the potential home buyers? Here are the reasons

The real estate consumers are shifting their focus to the real estate market in Thane. Apart from the important rates rise in both the ready possession and under-construction units, Thane has witnessed some of the infrastructure development which prompted the investors and buyers to take look at the market.

The housing realty landscape

As per reports, 60% of listed localities saw the rates increase averaging at over 2.3%. the balance localities witnessed an average rate decline of 1.8%. In comparison to the under construction projects, ready for possession properties, there are expensive by over 15%.

Both ready-to-move-in and under-construction properties saw the jump in average rates when compared to the July-September 2016 quarter. Rates of the former segment saw significant 1.3% increase while latter increased by the marginal 0.4%.

The prime locality in terms of the rate increase was properties in Thane west where both RM and UC rates increased significantly. The upcoming projects in Thane west are rated at Rs 49 lakh onwards. Apartments are available property type as well as configurations being offered are 1, 2, 3 and 4 BHK units. Thane east caters to the buyers in mid-segment and lower-mid and accounts for more than third of the total residential supply in the city. Only, east is the region in Thane where the properties are available in Rs 3,000 per square feet budget range.

Thane east is a geographically distributed region of all as well as includes major areas such as Kalyan, Dombivli, and Badlapur which falls within the district in Thane. Rates climbed by 0.3% in a range in October-December 2016 quarter.

The graphs above show the rates in varied budget segment across Thane. It is the costliest part of the city as well as close vicinity to Mumbai. All properties are available here are rates above Rs 11,000 per square feet. The region accounts for lesser than 5% of supply in city and rates here have risen by marginal 0.5%

Thane’s rental market

Amongst localities in Thane that have shown the higher growth in the rental yield in the past nine months, Kalwa tops this list with 13.7% growth which is followed by kolshet Road having 12.6% growth. Patlipada have 112.4% growth, Badlapur east having 10.8% growth as well as Kavesar having 10.6% growth.

The pros

Thane promises convenient commute to the residents. The region s connected well to central Mumbai, the western suburbs as well as Navi Mumbai. In comparison to the western, eastern part has better as well as established livability quotient.

Entertainment hubs, hospitals, schools, supermarket, etc., can be found easily in Thane as making the living standard easy. In addition, the seamless train connectivity to Mumbai Metropolitan Region and Navi Mumbai as the potential homebuyers has begun looking Thane as the ideal dream home destination.

At present, Thane is a reservoir of the housing options which comes at the affordable rates. As the buyer, choices are ample as well as property rates, when compared to the Mumbai, are less.