5 Reasons Why Thane West Is A Booming Real Estate Hub
Thane West is an uptown locality situated in the Mumbai suburbs. Though this suburb has witnessed a slow and steady rise of 6.2 per cent in residential property prices in past 40 months, the city has managed to entice homebuyers by offering an excellent liveable environment. It has also witnessed new launches while a few are in the pipeline. PropGuide lists reasons why Thane West is a flourishing real estate region.
Robust social infrastructure
Thane West possesses the finest educational institutions, shopping malls, restaurants, hospitals and entertainment centres which are the chief factor responsible for the growing housing sector. Prominent schools in the locality are D.A.V Public School Merry Angels International School while Lake City Mall, Viviana Mall and Eternity Mall are some major shopping malls in Thane West.
The locality has a well-developed social and civic infrastructure. Being centrally located, smooth connectivity to major parts of Mumbai is guaranteed. NH-3 and NH-4 are the two important national highways that link Thane West to the rest of Mumbai. Besides, efficient road transportation network within the locality allows easy commuting for the residents. The central and trans-harbour line suburban railway network provide efficient rail service to this region. Moreover, Mumbai's international airport is around 27 kilometres away.
Recognised as the City of Lakes, there are a number of attractive tourist locations in Thane West which add value to its real estate market. Sanjay Gandhi Park, Kanheri Caves, Masunda Lake, Upwan Lake and Kelwa Beach are some of the well-known places in and around Thane West.
A favourite among developers
Thane West is a coveted target market for a number of renowned real estate developers. Rustomjee Group, Lodha Group, Hiranandani Group and Hubtown are some of the popular names that have their projects in Thane West. Most of these projects offer contemporary housing both in the affordable as well as the luxury segment that strikes the right chord with the needs of a modern homebuyer.
The prices of residential properties in Thane West have been fluctuating. Though the overall market rates have been on a rise, the prevalent average price is around Rs 9450 per sq ft.