Ghodbunder road realty zone-present and future
Ghodbunder a realty zone
Ghodbunder road is the most lucrative and well-established zone in Thane. It has maximum office supply absorption and maximum potential for capital appreciation and growth for investors with a 5-7 years investment horizon.
Today, this prime residential and commercial area is offering the likes of Mulund, Ghatkopar and even Andheri stiff competition for attracting office space investments. The stabilized residential and commercial environment in the area has instilled the confidence that is needed to revive Thane’s real estate fortunes. With the real estate picking up pace in Thane, Ghodbunder road are has emerged as destinations for IT and ITES players. Ghodbunder’s superior infrastructure, affordability and cosmopolitan ethos could have helped it score over many other areas which lack these attributes. However, the builders feel that the city is still caught in a slump caused by the slow official machinery. The bureaucratic machinery is still trying to sort out various issues, and proactive decision-making is visibly lacking.
Given the prolonged uncertainty over the last few years, it is hoped that with the installation of a new state government the official machinery would move faster and would usher a stable policy regime. It is evident that the kind of clarity that is needed to fully revive sentiments is still to come. However, it is not practical to expect overnight results -the revision of administrative machinery takes time. It makes no sense to harbour unrealistic expectations and come to any premature conclusions at this point.
On the plus side, the there are some serious officials who are very conversant and involved with the ground realities. Even the MMRDA and TMC are determined to make Ghodbunder road a crown jewel for Thane in terms of new initiatives and developments. This involves building confidence, providing stability – and, obviously, attracting investments. If this determination is followed through upon, it is not unlikely that Ghodbunder will once again offer direct competition to other key IT destinations in early 2015. The Thane Municipal Corporation’s budget is expected to provide more clarity on new initiatives and the status of many infrastructure related developments. Corporates currently invested in the real estate in the area are looking forward to this clarity, which will help them take decisions on their expansion plans and investments into the city over the coming months.
