LOOKING FOR A 2-BHK? THANE MAY FIT THE BILL

LOOKING FOR A 2-BHK? THANE MAY FIT THE BILL

This area is a practical option for many buyers looking for 2-BHK homes and offers quite a few choices

    As saturation in residential and commercial development in Mumbai resulted in demand shifting towards the city's suburbs, Thane developed. Since its inception, Thane has come a long way and today, it boasts of homes that suit the needs of all sections of society.
    Several factors have come together to make Thane one of the most preferred residential locations near Mumbai today. Firstly, the suburb offers exceptional connectivity to Mumbai via three major highways, namely, NH3, NH4 and the Eastern Express Highway. "Further, Thane has large layouts and open spaces and is one of the fastest growing areas in the Mumbai Metropolitan Region (MMR)," explains Abhishek Kapoor, vice-president, Rustomjee. According to him, most people nowadays prefer to live in large integrated townships, with everything - from work to school, located a stone’s throw away.
    As Thane is considered largely a middle-class destination, 2-BHK units have emerged as the most supplied unit size in the suburb. As per MagicBricks.com data, more than 45 per cent of the total supply in Thane was for 2-BHK apartments in the April-June 2013 quarter. The price range of these units of course, varies in different localities.
    In the last three months, some of the localities that have recorded high supply of 2-BHK units are Ghodbunder road, Majiwada and Manpada. While Ghodbunder road and Majiwada have become comparatively expensive to fit the affordable tag, Dombivli still offers properties that are reasonably priced. Among these areas, the most highly priced localities to own a 2-BHK would be Majiwada. It contributes largely to the fact that Thane has no longer remained in the affordable range. As per the data with MagicBricks.com, one has to shell out anywhere between Rs 1-1.4 crores to own a 2-BHK in Majiwada. A 2-BHK unit worth less than Rs 1 crore may also be available; however, it forms a small chunk of the total supply.
    If you have a budget of just up to Rs 1 crore, Manpada may also be considered. However, if Rs 1 crore is still a distant dream for you, don't panic. Ghodbunder road can still fulfil your wish to own a 2-BHK home within a budget of Rs 60-80 lakhs. "Four-five years ago, Ghodbunder road was categorised as a green forest area. However, today most of the area has been cleared and deployed as a residential and commercial zone," says Sanjay Nagaonkar, owner, Ranuja Properties.
    One of the localities beyond Thane that still justifies the affordable tag is Dombivli. One can purchase a 2-BHK apartment within the price band of Rs 40-60 lakhs here. Within this budget, one can enjoy a riverside promenade, a riverside café, walkways and plazas, meditation areas, fragrant gardens, etc. As the lower prices are due to the lower land values, developers generally do not shy away from offering world-class amenities. Reinforcing this fact, Devang Trivedi, director, Progressive Group, opines, "Most projects that offer facilities like lift, power backup and security, are towards the periphery of Kalyan and Dombivli."
    For the mid-range home buyer, a 2-BHK is the most ideal configuration. For them Thane presents the best bet around Mumbai. Om Ahuja, CEO-residential services, Jones Lang LaSalle India, informs, "For the mid-range home buyers, there aren't many affordable options within the city limits. Though rates of residential property in Thane have gone up in the last year by 10-15 per cent, it is still within the reach of a common man."
    Apart from enhanced connectivity to Mumbai, the residential and commercial development that has encompassed Thane, makes it an ideal location to reside in. "Thane is riding the wave of residential and commercial success. New development has been planned and the existing development has been absorbed," adds Ahuja. He concludes, "Living in Thane makes a lot of practical sense. The four railway stations in the vicinity - Thane, Kalwa, Mumbra and Diva, handle a large number of commuters who travel to work every day."
    MagicBricks.com Bureau 

 
QUICK BYTE THANE HAS LARGE LAYOUTS AND OPEN SPACES AND IT IS ONE OF THE FASTEST GROWING AREAS IN THE MMR. LIVING IN THANE MAKES A LOT OF PRACTICAL SENSE. THE FOUR RAILWAY STATIONS IN THE VICINITY - THANE, KALWA, MUMBRA AND DIVA - HANDLE A LARGE NUMBER OF COMMUTERS WHO TRAVEL TO WORK EVERY DAY. 

MAJIWADA, GHODBUNDER AND POKHRAN ROAD TOP SUPPLY IN RS 1-1.6 CRORE RANGE

This stretch offers homes for buyers who live not only in Thane but also in far-off suburbs of Borivali, Kandivali and Malad

    If statistics with MagicBricks.com are any indications of the supply available in the market, then be assured that Rs 1-1.6 crores is what you require to make your home search in Thane, an easy one. This is due to the fact that this category is the most supplied in the city and hence, easiest to find. Data with MagicBricks.com indicated that 21 per cent of the total supply in Thane, was priced between Rs 1-1.6 crores.
    If you are fortunate enough to have a budget of Rs 1-1.6 crores, there are certain localities you may target for your home search. The data indicates that Ghodbunder Road, Majiwada and Pokhran Road 2, have the highest supply of properties worth between Rs 1-1.6 crores.
    Even though all three localities are at different stages of development with respect to their realty markets, they are not very far from each other and the supply scenario in these markets depict a common thread. Ghodbunder Road gives way to Pokhran Road on its right, just before it merges with the Eastern Express Highway. Majiwada is located at the junction of these two roads. 

GHODBUNDER ROAD
    Ghodbunder Road, one of the major roads cutting through Thane, is witnessing rapid real estate development. This stretch, measuring roughly 20 kms, is dotted with residential, retail, commercial as well as institutional projects. Several renowned developers have set base in this highly dynamic real estate stretch. These include Lodha Group, Harmony Lifestyle Group, Dosti Realty Limited and Vijay Group, among others. Within the above mentioned budget range of Rs 1-1.6 crores, if you are looking to purchase a 3-BHK home, then Ghodbunder Road is the ideal option. As per data with MagicBricks.com, there is maximum availability of 3-BHK units within a budget of Rs 1-1.6 crores. This is closely followed by 2-BHK units. Developers who are offering these configurations within the said budget include Haware Engineers & Builders Private Limited and Lodha Group. 

MAJIWADA AND POKHRAN ROAD 2 Majiwada is increasingly becoming a preferred residential location for those working in locations such as Borivali, Kandivali and Malad. If you do not wish to go too far from these areas, you can opt for Majiwada over Ghodbunder Road. However, within a budget of Rs 1-1.6 crores, the most supplied unit size in Majiwada is a 2-BHK. In fact, 2-BHK units are the most supplied category in Majiwada, with more than 60 per cent of the total supply concentrated in this category. Several developers such as Sheth Developers, Mahakali Developers and Rustomjee Developers, have their presence in Majiwada. Another option for those looking for housing near localities such as Borivali and Kandivali within the budget of Rs 1-1.6 crores, can be Pokhran Road 2. Similar to Majiwada, supply in Pokhran Road 2 is also largely limited to 2-BHK units with nearly 60 per cent availability.
    MagicBricks.com Bureau