Rising Demand And New Launches Fuel Thane's Real Estate

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Thane has emerged as a self-sustainable locality, providing good quality of life to its residents not only because of its rapidly evolving real estate market, but also due to the active participation of the citizens

The demand-side growth in the residential segment of Thane has been robust throughout 2022, despite the RBI increasing the benchmark lending rates consistently. Hence, if you are too slow to make your move, you might just miss the bus, believe experts. Furthermore, a recent report by Savills India also pointed out that Thane witnessed a significant increase of three-eight per cent YoY on account of consistent demand for completed as well as under-construction properties.

Vinod Mishra, an asset advisor feels that the stream of consistent launches in the last six months or so have been one of the key drivers for price rise in the market. “Areas like Kolshet Road, Pokhran, Majiwada, etc are seeing a lot of new launches in the Rs 50 lakh category, which has influenced a lot of buyers to opt for the new stock rather than the old one. Besides, the prices in various micro-markets of Thane are still affordable as compared to the rest of Mumbai, which makes Thane a more exciting and attractive market,” mentions Mishra. Thane also has a long tradition of civic participation, with citizens actively involved in shaping the city’s future, which had further contributed to the rise in popularity of the locality and impacted the prices of homes.

One of the ways in which Thane residents participate in the city’s affairs is through local governance. The Thane Municipal Corporation (TMC) has a robust system of citizen participation, with various committees and councils that allow residents to voice their opinions and concerns. These committees cover areas such as public health, education, urban planning, and social welfare, and they play a crucial role in shaping the city’s policies.

Thane’s citizens also participate in various community-driven initiatives. Many residents are actively involved in environmental campaigns, organising tree-planting drives and waste management programmes. Others volunteer for social causes such as supporting disadvantaged children, providing healthcare to the underprivileged, and helping the elderly. Many residents also actively participate in the city’s development, offering their expertise and resources to support new infrastructure projects. This includes everything from funding new public parks to building new roads and bridges.

Abhijit Bhangar, TMC commissioner is also elated to see the active participation of the citizens. He says, “Thane has a strong tradition of engaging with civic authorities and this ensures that issues are resolved faster and provides us [as planners] real-time feedback on what’s working and what’s not. There are a lot of projects that we are currently working on [from road-widening to building public toilets]and the constant push by the people ensures that we don’t miss our deadlines.”

Source: timesproperty.com

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