Investors say cheers to infrastructure development

Real estate infrastructure at Ghodbunder

Real estate market along the stretch from Thane to the Central Business District of Belapur is on the boil. Price appreciation is the order of the day and hence those who had prudence to invest in the nick of time have every reason to cheer.

Development of physical infrastructure in Ghodbunder Road, Kolshet Road, Airoli, Majiwada, Ghansoli, Vasant Vihar or Vashi to an expanding job market, and from the metro rail to better connectivity to the upcoming commercial markets, the real estate market expects a positive impact in times to come.

This impact is clearly visible in the capital values of the residential areas of Thane, Kalyan, Badlapur, Vashi and other suburbs, indicates data over the last two years, all these areas have reported a rise in capital values in the range of Rs 650-3500 per sq ft, depending upon the location.

Investors have been banking on the numerous upcoming infrastructure projects, one of them being the metro rail network. Deepak M, consultant at Shri Sai Property Consultants, says, “Of late, Thane has been a fast-moving market. Buyers have the benefit of sound living standards and almost half the price it would take to live in Mumbai. Most buyers also foresee property prices going up.” Initially, while it would have taken close to 50 minutes to commute to Mumbai, with the metro, the time taken would be down to 20 minutes. This positively impacts the property markets of Vasant Vihar, Majiwada, Pokhran Road 1 and 2 as well as Ghodbunder Road and Hiranandani Estate.

Shiva Patil, a local realtor in Thane, informs, “Majiwada Junction Flyover cuts across the busiest routes of Thane. Strategically planned, commuters from Mumbai would have easy access to Kalyan. This flyover, already half operational, facilitates to and fro connectivity to Mumbai, Nashik and other areas where most of the economic drivers are.” So, whether you are working in Borivali, Malad or Mulund, the three flyovers planned here, are getting developed in phases and will facilitate travel. By easing connectivity, Majiwada also opens investment options in the region. With capital values slowly picking up, most residential pockets in Thane would see more number of takers.