Chembur, Mumbai
Govandi East, Mumbai
Total Projects: 237
The Mumbai Metropolitan Region (MMR) is expanded over an area of 4,355 sq. km, which covers 458 sq. km of the Mumbai City district and the rest including regions in the Thane, Palghar and Raigad districts. Property in Beyond Thane is certainly an attractive proposition for home buyers at present which is a far cry from what it was even a few years earlier. The entire region has witnessed skyrocketing growth over the years. The micro-markets of Beyond Thane such as Dombivli, Neral, Kalyan, Bhiwandi and Karjat have emerged as the top performing localities on the basis of total absorption.
During the last few years, Thane has grown rapidly and emerged as a key destination for residential and commercial development. This region has a blend of under-construction as well as ready-to-move projects. The region beyond Thane is going to be the next growth corridor of MMR real estate because of the availability of considerable land parcels in areas like Badlapur and Kalyan. Its improved connectivity to the city center and affordability, most of the top category developers have launched the large-scale residential project in the vicinity. This region is good for mid to long-term investment due to its excellent connectivity with other parts of the Mumbai Metropolitan Region (MMR) also the affordable property options to the residents. There are several mid-range and affordable projects spread across this zone. TCS has set up its largest office in Thane with a capacity of 30,000 employees in the area of 3million sqft.
Improved social and physical infrastructure in the vicinity have boosted the real estate development in the region and has attracted several developers including Nisarg Group, Bhagwati Space Conventure, Ajmera Group, and TATA Housing Development Co Ltd. and many others for their portfolio expansion. The property rates in these areas have seen the upward movement over the last years. As per the wealth report published by Knight Frank India Limited, Thane has become popular among the rich looking to buy a property.
Connectivity:
The Eastern Express Highway is a major connectivity lifeline for areas beyond Thane along with the railway network. The development of the Karjat-Kalyan Highway will also boost connectivity. The widening of Bhiwandi–Kalyan-Shil Phata Road is also expected to boost the local economy and it also connects the Mumbai Pune Highway (NH 4) at Shil Phata and the Mumbai-Nashik Highway (NH 3) at Bhiwandi.
Moreover, various infra projects including the elevated road between Bhiwandi and Kalyan along with Mumbai-Nashik Highway has sparked the real estate boom in this market.
