Rising Thane Property Rates

Due to spiralling property values in Mumbai, people are gradually shifting to the suburbs to find affordable accommodation. This has given a boost to Thane’s real estate market. Localities, such as Ghodbunder Road, Manpada and Pokhran Road, have recorded 30-40 per cent rise in the values, in the last two years.

So, what is the reason? “Today, the ticket price of Mumbai has become very high. Therefore, developers are focusing on localities in Thane,” Say's a Local Dealer Let’s find out, what each of these areas has in store for the property buyers.

Ghodbunder Road

From a vast stretch of forest area to a realty hotspot – this is how the Ghodbunder Road has metamorphosed. Due to fast-paced development, the area has recorded appreciating trends, in the last two years. As per Statistics, property rates for multi-storeyed apartments have climbed from Rs 5,900 per sq ft in 2011 to Rs 8,200 per sq ft in 2013, depicting a clear rise of 40 per cent.

With a well-built social infrastructure and the proposed monorail, Ghodbunder Road has grabbed the eyeballs of many renowned developers. This has led to a surge in the launch of affordable and premium projects. Thus, a buyer can get a 1-BHK apartment starting at Rs 30 lakhs to a 4-BHK apartment priced at Rs 1 crore and above. On an average, capital values of the newly launched apartments vary between Rs 30 lakhs to Rs 1 crore, depending upon the BHK configuration and the amenities offered.

Manpada

Manpada is another area that is witnessing fast-paced development and thus, offers a healthy scope of return on investment. Explaining the appreciating trends in the locality, says Another Dealer, “Manpada is one of the prime locations in Thane