Read More About Thane & it's Real Estate Property Market
With approx 23 lakes in the region, Thane is also known as the ‘City of Lakes’.
It is a popular satellite city in the north-east of Mumbai and within the Mumbai Metropolitan region.
The city is located approx 7 meters above sea level and is surrounded by the Yeoor Hills and Parsik hill.
It is divided into two parts by a stream known as Thane Creek, which runs from the Ulhas river to the Arabian Sea.
Two road bridges and one rail-bridge connect the two parts of the city.
Thane is also one of the oldest cities in India with a history that can be traced back to approx 2,000 years.
The Thane Municipal Corporation City limits includes areas like Kopri (in the south), Wagle Estate, Naupada, Pachpakadi and Lokmanya Nagar (in the west), Mumbra, Diva and Kalwa (in the east), and Bramand, Manpada, Dhokali, Kolshet, Owala, Gaimukh and Kapurbawadi in the north.
The Thane region has a tropical monsoon climate. However the overall climate is quite equable with days of high rainfall during the monsoons and few days of extreme temperatures.
Temperatures here vary from about 22c to 36c, with the mercury known to fall to about 12c during winter nights and rise to a humid 40c during peak summers.
About 80 percent of the region rainfall happens between June and October, averaging approx 2,000-2,500mm p.a, with humidity levels at around 60-80 percent.
The driest days here are during the winter while its wettest days are usually during peak monsoons in July.
Masunda Talao: One of the biggest lakes here offering water scooters and boating facilities, making it a popular tourist attraction among locals and tourists alike.
Yeoor Hills: Also known as – Mama Bhanja Hills – Yeoor hills is a pollution free zone known for its green and peaceful environs.
Essel World: A popular amusement located at Gorai, it offers about 34 rides for kids and adults as well. Water Kingdom, located right next to it claims to have Asia’s largest wave pool.
Bassein (Vasai): Located on the western coast approx 48kms north of Mumbai, the ancient Portuguese ruins surrounded by swaying palm trees and a pristine beach are worth a visit.
Jawhar Palace: Also called the Mahableshwar of Thane district due to its cool climes and scenic beauty, the majestic Dadara Kopra falls, Sunset Point and Shirpamal are the places to visit here.
Matheran: Located at an altitude of approx 800m, Matheran is a charming hill-station in Thane’s Alibaug district. Perched atop a hill and surrounded by shady trees, it’s also famous for its walking tracks and horse riding.
It is the northern-most district in the Konkan region, adjoining the Arabian Sea in the north-west of Maharashtra state.
It lies between 18-42 and 20-20 north latitude and 75-45 and 73-45 east longitude.
The regions’ northern limits adjoin the Union territories of Dadra, Nagar Haveli and the state of Gujarat. The districts of Nasik and Ahmednagar are to its east, Pune to its south-east, Colaba to its south and the Greater Mumbai region to its south-west.
Geographically, it comprises the wide basin of the Ulhas River and the hilly Vaitama Valley region, encompassing an area of approx 9,553 sq kms.
Although it covers only about 3 percent of the surface area of the state of Maharashtra, Thane accounts for about 4.52 percent of the state’s population.
The population of the region is distributed among 24 towns and 1,588 inhabited villages.
Marathi and Hindi are the two main languages that are spoken here.
The largely cosmopolitan population also speaks English and Gujarati, among other Indian languages.
Thane city has a very good transport system with excellent connectivity to cities like Mumbai and Pune by road and rail.
The city also features several hotels for varying budgets ranging from luxury properties for business travelers to moderately priced motels and inns.
JOBS & EMPLOYMENT OPPORTUNITIES:
In recent years, Thane has undergone a major transformation from an industrial town to a now favoured IT destination.
Post the mid-nineties, with the conversion of Wagle Industrial Estate into an IT hub, it has gained traction as a preferred destination among IT and ITES companies.
Presently, IT and ITes companies form the major chunk of clients for commercial office space here at projects like G Corp Tech Park, Kalpataru Prime, Dosti Pinnacle and Neptune Element.
Thane district has seen a rise of 162 per cent in its per capita income in since 2007-08.
According to the economic survey tabled in the state legislature, the per capita income of the district in 2014-15 was recorded at INR 1.73 lakh. In 2007-08, this figure stood at INR 66,174.
The rise in the per capita income is due to rapid growth in construction activities, growing number of corporate offices and small-scale industries in the region.
On the employment front, over 35 percent medium and small scale enterprises (MSME) jobs are in Mumbai-Thane area, according to recent surveys.
There are five SEZs in the Mumbai-Thane belt, generating employment for about 46,000 people.
TRANSPORT & CONNECTIVITY:
Thane was chosen as the terminus for the first ever passenger train in India on 16 April 1853.
Thane is well-connected with its neighboring suburbs through Central and a Trans-harbour line suburban rail network.
It is also a railway junction for the Thane-Vashi Harbour Line and Central Line.
Thane is a major halt for many outstation trains commencing from Mumbai and also a major station on the Mumbai suburban rail network, handling an estimated 6.54 lakh passengers daily.
Various state transport corporation including the Thane Municipal Transport (TMT), Brihanmumbai Electric Supply and Transport (BEST), Navi Mumbai Municipal Transport (NMMT) and Mira-Bhayander Municipal Transport (MBMT), provide reliable, public bus transport services in the region.
Other popular travel options for inter-city travel include autorickshaws and taxi cabs.
The Eastern Express Highway and LBS Marg connect it with eastern suburbs while the Western Express Highway and arterial Thane-Belapur Road connect it to the western suburbs and Navi Mumbai respectively.
Two mono rail lines have also been proposed connecting Thane with Dahisar and Kalyan.
Work is in progress for seven flyovers connecting Thane with Dahisar, Ghodbunder and Bhiwandi.
Internal transportation system is excellent with government initiatives like SATIS (Station Area Traffic Improvement Scheme), commuting has improved.
Social infrastructure is also in place with existence of hospitals, shopping malls, education institutes and hotels.
Jupiter Hospital, Bethany Hospital and Hiranandani Hospital are some of the prominent hospitals here.
The Dr VN Bedekar Institute of Management Studies and KC College of Engineering are some of the reputed education institutions in Thane.
Fortune Park and United 21 are the two leading star hotels located at Thane.
Thane also offers good leisure and entertainment options with popular malls like Korum Mall, Eternity Mall and R Mall which are situated here.
REALTY MARKET OVERVIEW:
According to a recent JLL-CII report on emerging realty investment hotspots, Thane has witnessed strong development in the past two decades.
Government initiatives to improve the infrastructure in the region, has attracted a host of leading developers to Thane.
Prominent developers active in the Thane region include Sheth Developers, Dosti Group, Rustomjee, Hiranandani and Kalpataru who are focusing on large-scale development with high-rise structures.
Some of their popular projects here include Sheth Vasant Lawns, Dosti Vihar, Rustomjee Urbania, Hiranandani Estates and Kalpataru Siddhachal.
These projects have resulted in a reduction of the price gap between Thane and the sought-after western suburbs of Mumbai.
Thane offers quality housing options for all income categories ranging from higher-income to middle-income groups.
It is witnessing increased interest from investors due to its good infrastructure and connectivity to cities like Mumbai and Pune.
Thane’s arterial Ghodbunder Road has witnessed high residential sales on the back of availability of land parcels and connectivity via the Eastern and Western Express Highway to Mumbai.
Other areas witnessing hectic residential development include; Old Thane, Pokhran Road and areas surrounding Pune highway.
Thane has about 4.5 million sq ft of Grade A office space which constitutes about 5.3 percent of the total stock of the city.
REALTY MARKET HIGHLIGHTS:
With improved connectivity to western and eastern suburbs and Navi Mumbai, Thane is fast becoming a sought-after residential and commercial destination.
Given the growing demand from end users and investors alike, Thane looks set to emerge as one of the prime business districts of Mumbai.
In such a scenario, rental and capital values are expected to increase by almost 50 percent in the next five years from the last trough in 2009.
While the residential property prices have surged in the past few years, prices are largely expected to continue going north on the back of healthy demand.
Going forward, Thane is expected to witness strong residential demand due to increasing workforce in the submarket.