Ghodbunder Road – upcoming destination for affordable premium homes
Ghodbunder Road – upcoming destination
From a small suburban town on the outskirts of Mumbai to a self-sustaining metropolis, Thane has progressed leaps and bounds over the last decade. It is a modern city with expansive flyovers, seamless highways and broad roads that contribute to its burgeoning social infrastructure.
With a property price boom that was seen in areas in and around Mumbai between 2010 and 2012, Ghodbunder Road segment in Thane emerged as an ideal residential destination for price-sensitive home buyers owing to the relatively lower rates in comparison to the central Thane city. Today, Ghodbunder Road is witnessing rapid appreciation in terms of real estate.
Ghodbunder Road is approximately 20 km long and links the two main arterial roads of Mumbai, the Eastern Express Highway which starts at Sion and terminates at Thane and the Western Express Highway, that starts at Bandra (East) which becomes the National Highway leading to Gujarat. Many rail and road infrastructural projects on the Ghodbunder Road are in the pipeline giving the area an upper edge.
The MMRDA has given a nod to a monorail network which will serve as a feeder system to the Metro corridor extending from Wadala to Kasarvadavali on Ghodbunder Road. Besides, the road also provides quick accessibility to Mira Road from Thane, and to other micro-markets like Mulund, Bhandup and Ghatkopar.
From affordable apartments to premium properties, the area offers an extensive mixture of housing options. Capital values of newly launched multi-storey apartments vary between Rs 40 lakh to Rs 2.5 crore and the average prices of this region range between Rs 8,000 and Rs 10,000 per sq ft with annual appreciation of nearly 7-10 per cent, based on the project specifications and amenities.
Ghodbunder Road is attractive to developers primarily due to the easy availability of large land parcels. Some of the reputed developers present on this stretch are Runwal Group, Puraniks Builder, Harmony Lifestyles Group, Vijay Group, Rosa Group and DS Group.
