THANE MICR
M A R K E T
S T U D Y
X E D
IN Sr.No.
Content
Page No.
1
The crown Jewel of Mumbai Metropolitan region
1-2
2
Growth Story
3-4
3
Residential Hot Spots of Thane
5-6
4
Key Location Distances
7-8
5
Ghodbunder Road – Basic Infrastructure and Connectivity
9-10
6
Ghodbunder Road – Social & Commercial Infrastructure
11-12
7
Ghodbunder Road – Residential real estate, Leading developers &
13-14
Price trends 8
Price appreciation in residential market
15
9
Price notes
16
Other Imminent Realty Markets Around Thane Ghodbunder Road
17-18
10
THANE MICRO MARKET
THE CROWN JEWEL OF MUMBAI METROPOLITAN REGION Mumbai, is the financial, commercial and entertainment capital of the state of Maharashtra. Being located at the western coastline, Mumbai also houses two of the busiest ports in India, which mostly ship container cargo. The city enjoys excellent rail as well as road connectivity to many important cities across India, and it also has a huge network of local trains, metros, buses and taxis which seamlessly link different areas within the city. Mumbai city has now expanded into suburbs which have developed into metropolises themselves. Thane is one of the extended suburban area which has become a selfsustainable city. Thane micro market is a central location and has drawn excellent connectivity to entire Mumbai and suburbs by rail and road. Thane has effortless connectivity to the two main arterial roads of Mumbai - Eastern Express Highway ( Starting at Sion and terminates at Thane) and Western Express Highways ( Starts at Bandra (East) and becomes National Highway leading to Gujarat). Well connected to the neighboring suburbs via Central Railway's suburban railway network. In addition, the road provides quick accessibility to Mira Road from Thane, and to other micro-markets such as Mulund, Bhandup and Ghatkopar. Connected to Navi Mumbai via Thane-Vashi rail service and Thane - Belapur road link. Major business centers - Vikhroli, Andheri, BKC, Nariman point are within approachable distance. Thane - Belapur road connects to Navi Mumbai – Airoli, Vashi, and Belapur. Comfortable access to international and domestic airports including the upcoming international airport in Navi Mumbai. Proposed 32-km long metro corridor will connect Thane (Teen hath naka) to Wadala via Ghatkopar. Two mono railway lines are also proposed which will connect Thane with Dahisar and Kalyan respectively.
1
THANE MICRO MARKET
THE CROWN JEWEL OF MUMBAI METROPOLITAN REGION
International Airport
Airoli Gh
odb
55 mins (via JVLR) 30 mins (Vile Parle and Andheri West Station)
15 mins (via Thane Belapur Rd) 10 mins (Airoli Station)
and
ar R
oad
Majiwada
Thane Andheri West
Vikholi East
Mulund
Tulsi Lake y
Western Ex press Hig hway
60 mins (via JVLR) 40 mins (Andheri Station)
pre
ss
Hig hw a
Airoli
25 mins (LBS Marg) 10 mins (Vikholi Station)
Ea
ste
rn
Ex
Vihar Lake
Powai Lake
BKC Eastern Express Highway
40 mins (via LBS Marg) 15 mins (Kurla Station) Bandra
Central Suburbs
International Airport
20 mins (via LBS Marg) 15 mins (Ghatkopar and Chembur Station)
Santacruz Ghatkopar
Santacruz Chembur Link Road
BKC
ay
hw
ress
tern
Hig
Chembur
Exp
Ea
Bandra
ste
rn
Ex
pr
es
sH
igh
wa
Worli Sea Li nk
y
Eas
Dadar Vadala
y
Proposed New International Airport
Fre tern
Mahalaxmi
Eas
52 mins (via Eastern Freeway) 35 mins (CST Station)
ewa
Lower Parel
CBDNariman Point
Kharghar
ARABIAN SEA
50 mins (via Thane Belapur Road) 30 mins (Kharghar Station)
Malabar Hill Marine Drive CST Fort
Nariman Point
Cuffe Parade
LEGEND
Colaba
Thane-Belapur Road
Existing Roads
Western Express Freeway
Ghodbunder Road
Eastern Freeway
Proposed Metro (Wadala-Ghatkopat-Teen Hath Naka (Thane)-Kasarvadavali)
Eastern Express Highway Central Railway Santacruz Chembur Link Road
2
Western Railway
THANE MICRO MARKET
GROWTH STORY Thane city has witnessed several changes in recent years, both on the commercial and residential front. Being one of the important suburbs on the central side, the growth story of Thane city can be credited to its growing residential, commercial, retail and infrastructure development. The small town of Thane has experienced a make-over with huge complexes and new areas open for development like the Ghodbunder Road and Pokhran Road amongst others. The single greatest reason for Thane's residential growth has been the availability of large tracts of land vacated by large industries which would ordinarily have been a matter for concern, except that the transition has been fairly gentle and extended over a long period of time. Traditional industries are in the process of being replaced by IT/ITES, retail and logistics companies for whom Thane is a rich source of cost-effective and qualified human resources. The phenomenal growth of high-end residential accommodation, multiplexes, shopping malls, auditoriums, art galleries, entertainment complexes, international schools, supermarkets and healthcare services have created a supportive environment to which the Thane Municipal Corporation has contributed substantially in terms of infrastructure in the first decade of the 21st Century.
3
THANE MICRO MARKET
GROWTH STORY
Plans to Develop Mass Rapid Transit System submitted
Trans Harbour Line Connecting Thane and Vashi opened for Public
SATIS-Station Area Trafď€ c Improvement Scheme opened for public transport vehicles
1982
Thane Municipal Corporation commenced (TMC)
2000
Clean City Award by Government of India
2004 2008 2009 2010
Development Plans to make Thane a Solar City
Work on seven yovers commenced
2011 2013 2014
Panvel and Nerul get connected to Thane via Rail route
Metro and Mono Rail got Civic Nod
Metro Project gets state assembly nod Proposal to be sent to central departments for approvals
2018 2025 4
Proposed completion of Metro
THANE MICRO MARKET
RESIDENTIAL HOT SPOTS OF THANE Thane as a city enjoys prime position in terms of real estate pricing. In terms of its realty mix, this locale has a dominance of old residential buildings, industrial estates, commercial complexes, high-street retail and hotels, and is spread over various location like Kopri Colony, Panchpakhadi, Khopat, Eastern Express Highway. Pokhran I & II: This is the equivalent of Thane's Green Zone, due to its proximity to Yeoor Hills and its abundant greenery as also Upvan Lake. In terms of residential, this locale commands a premium. Pokhran I & II are situated 3.4 and 4.8 kms from Thane railway station and were known as the 'base' for reputed companies like Raymond, Glaxo, Cadbury's etc. Projects in Pokhran have a good demand, especially for premium residential. Kolshet: If Thane has been the location where industrial usage gave way to residential, Kolshet Road is the 'poster boy' of this major shift: from industries to residential complexes. Kolshet is a serene green location, far away from noise and air pollution. Located 5 kms from Thane station, it enjoys proximity to schools, hospitals, retail and shopping malls and entertainment. Balkum: Perpendicular to Ghodbunder Road on the Thane end and extending towards the Nashik By-pass, Balkum is located 4 kms from Thane railway station. This stretch is expected to be the next residential hub after Ghodbunder Road. It has the presence of high-end residential and township projects by big developers. Ghodbunder Road: Also known as GB road, it is one of the major roads leading out of Thane, a suburb of Mumbai in the Mumbai Metropolitan area. The realty market in Thane's Ghodbunder Road has developed very systematically and has evolved as one of the most attractive realty destinations for end-users and investors, with good roads and infrastructure development.
5
THANE MICRO MARKET
RESIDENTIAL HOT SPOTS OF THANE
Ghodbunder Road
Kolshet
Pokhran II
Pokhran I
Waghle Estaste
6
Thane City
Balkum
THANE MICRO MARKET
KEY LOCATION DISTANCES Thane (East) City Thane east is adjacent to Thane railway station. It's very calm and peaceful residential area. Thane east is walking distance from station. Hari Om Nagar Mulund (East) is also adjacent and walking distance from Thane (East) station. Thane (West) City Thane (west) City is broadly classified into sub locality as follows: Ram Maruti Rd- walking distance from Thane west station 1 km. Brahman society-walking distance from Thane west station 1 km. Khopat- walking distance from Thane west station 2 1/2 km. Panchpakhadi- walking distance from Thane west station 11/2 km. Teen Hath Naka- walking distance from Thane west station 11/2 km. Majiwade- distance from Thane west station 3 km. Wagle Estate - walking distance from Thane west station 21/2 km.
Thane Pokhran Rd.No.1 Thane Pokhran Rd.No.1 is a good and peaceful residential area to stay and has various school, malls and hospitals in the locality. The Pokhran Rd. No. 1 is classified in Sub locality as: Samta Nagar- distance from Thane west station 3 km. Vartak Nagar- distance from Thane west station 3 1/2 km. Veer savarkar nagar- distance from Thane west station 4 km. Shivai Nagar- distance from Thane west station 4 1/2 km. Thane Pokharan Rd. No.2 Thane Pokhran Rd.no.2 stretches up to four km, starting from Thane station, the area is full of big to large scale development projects. The sub localities of Pokhran road no 2 can be classified as: Vasant Vihar- distance from Thane west station 4.50 km. Upwan Lake- distance from Thane west station 4.50 km. Manpada- distance from Thane west station 6 km. Hiranandani Meadows- distance from Thane west station 4.50 km.
7
THANE MICRO MARKET
KEY LOCATION DISTANCES Thane Ghodbunder Road Thane Ghodbunder Road: Once just a small highway connecting Borivali to Thane with various villages has now turned into full fledge new Thane city suburb within Thane Mahanagar Palika having developed a very good infrastructure and connectivity to Thane station. Thane Ghodbunder Road can be classified to sub localities as: Cine wonder Tulsidham- distance from Thane west station 5 km. Manpada- distance from Thane west station 6 1/2 km. Vijay Nagar (Waghbill) - distance from Thane west station 7.50 km. Hiranandani Estate- distance from Thane west station 7.50 km. Kasarwadwali- distance from Thane west station 8 km. Thane Kolshet Road Thane Kolshet Road, is an industrial belt in close proximity to Thane station, Eastern Express Highway and Nasik Bhiwandi Bypass. This area can be classified into sub locality as: Big Bazaar- distance from Thane km west station 4 km. Dhokali Gaon- distance from Thane km west station 5 km. Everest and Siddhachal- distance from Thane km west station 6 km. Brahmand- distance from Thane km west station 7 km.
8
THANE MICRO MARKET
GHODBUNDER ROAD : BASIC INFRASTRUCTURE AND CONNECTIVITY Ghodbunder Road is State Highway 42 which runs through the district of Thane for approximately 20 km. It connects to the Eastern Express Highway, becoming National Highway 3 and to Western Express Highway which becomes National Highway 8 at Ghodbunder leading to Gujarat. With the help of the mentioned two major highways of Mumbai, G.B. road provides easy connectivity to Mumbai and suburbs.
G.B. road is called the satellite town of Thane as it networks the major residential areas of Thane like Kolshet, Pokhran, Tikuji ni wadi, Waghbil and also connects to Pune & Nashik highways to Thane. There are 3 subways, 18 bridges and flyovers for uninterrupted traffic flow. Proposed metro rail would run along the Ghodbunder Road with more than 10 halts within Thane itself. The development authorities have planned a monorail network in this region to serve as a feeder system to a Metro project planned in Thane. The MMRDA has finalized a Metro corridor extending from Wadala to Kasarvadavali on Ghodbunder Road in Thane.
9
THANE MICRO MARKET
GHODBUNDER ROAD : BASIC INFRASTRUCTURE AND CONNECTIVITY
Towards
Arabian S
ea
Thane
Ulh
To Surat
as
Riv
er
rR
e nd bu od Gh
Bhyander Pada
d
d oa
oa
li R
a av
To Borivali
ad
rv
sa
d
W ag hb i
lR oa d
Ka
Hi
ra
na
nd
an
iR
oa
Towards Haware City
d
Ro
ad
Ulha
Br
ah
s Riv
m
an
Brahmand
Yeoor Hills
Patlipada
er Kolshet
Kapurbawdi Flyover
Tikuji N i
d lsh
Overhead Tank
va
ar
kPho rkah nraR
To w
Po
noR
k Po
d
ra Roa
aod
Old Ag
aN d
oN.o 2. 2
an
hr
Military Ground
Dhokali Naka
ds
Up
Ko
n
Rd
et
e
k La
Wadi R oa
Ro
Majiwada Junction
ad .1
No yay
wa gwh
i ghh
Eastern
Towards
Express
Highway
Nashik
ssi
eH psr eexs
r rpn tex asE rEn
Cadbury Junction
te
s Ea
Proposed Metro Line
To w
ar
d
Pu
ne
rn E
Easte y
hwa
s Hig
s xpre Teen Hath Naka
Flyover Express Highway Proposed Metro Line
10
THANE MICRO MARKET
GHODBUNDER ROAD : SOCIAL & COMMERCIAL INFRASTRUCTURE Lifestyle quotient of the city has increased with ample retail, multiplexes and bigger brands present. Malls like Wondermall, Hypercity, Viviana and Korum are among those catering to residents, with some high-end brands and a four-screen multiplex. Thane has a number of schools and colleges such as St John High school, St. Xavier High school, Smt Sulochanadevi Singhania High School and many others. Lodha World School also has a center in Thane. Jupiter and Bethany, both private multispecialty hospitals, are present in close vicinity. Hiranandani Estate and Hiranandani Meadows have become two full-fledged township projects on G.B. road having their own school, hospital and shopping complexes. Thane is the third most industrialized district in the State having major industries like Bayer crop science ltd. & Raymond's factory. The medium and large industries manufacturing chemicals and chemical products are Pfizer, Lubrizol India Ltd., Polyolefins Industries Ltd., NOCIL, Herdillia Chemicals Ltd., BASF (India) Ltd., Star Chemicals and Phoenix Chemical Works. The chemical industries are also found in other parts of the district like Wagle Industrial Estate and Pokhran Road. There has been a tremendous growth in IT sector that has resulted in the development of TCS & Wagle Estate IT Park in Thane.
11
THANE MICRO MARKET
GHODBUNDER ROAD : SOCIAL & COMMERCIAL INFRASTRUCTURE
Towards
Arabian S
ea
Thane
Ulh
To Surat
as
Riv
er
e nd bu od Gh
Bhyander Pada
d
oa
rR
li R
a av
d oa
ad
rv
sa
Ka
To Borivali
lR oa d
Hyper City
W ag hb i
G Corp
d
D Mart
Hi
bu
ra
na
od
nd
an
Gh
Suraj Water Park
iR
oa
Towards Haware City
ad Ro d an m Br
ah
s Riv
ad
Ro
Ulha
er
nd
Yeoor Hills
Brahmand
Patlipada
er
St. Xaviers School
Kolshet
Kapurbawdi Flyover
Tikuji N i
d et lsh Wonder Mall
Bethany Hospital
Po
kPho rkah nraR
noR
Old Ag
aN d
kh
oN.o 2. 2
TCS
n
ra
Big Bazar
ad
Ro Jupiter Hospital
.1
No
yay hwa igw ghh i s s
Singhania School
Wagle Estate t asE
rEn
Cadbury Junction
e st
Ea
Korum Mall
IT Park
H sre
To w
ar
d
St. John School
Pu
ne
ay ighw way ss H ss High xpre rn E rn Expre Easte Easte
Proposed Metro Line
School
Eastern Express Hig Eastern Express hway Highway Towards Nashik
xsp
ree
n exrp
Mall
Lodha World School
Majiwada Junction
Viviana Mall
Industry
d
ra Roa
aod
Po Raymonds Factory
Dhokali Naka
Ko
Up
Military Ground
Bayer Cropscience Ltd.
Overhead Tank
ds
va
Wadi R oa
ar
n
La
Rd
To w
ke
Teen Hath Naka
Flyover Express Highway Proposed Metro Line
12
THANE MICRO MARKET
GHODBUNDER ROAD : RESIDENTIAL REAL ESTATE, LEADING DEVELOPERS & PRICE TRENDS Ghodbunder Road has witnessed a rapid pace of real estate development. Due to its connectivity and accessibility, the road has grabbed the attention of many well-known developers. The major reputed developers having a presence in this location are listed below. o o o o o o o o o o o
Cosmos Group Lodha Group Hiranandani Group of Companies Kalpataru Group Raheja Developers Dosti Group Runwal Group, Puraniks Builders Harmony Lifestyles Group Vijay Group Rustomjee
These developers are offering residential projects built on 5-10 acres of land. These projects are gated communities that offer amenities such as swimming pool, sports complex, clubhouses and gymnasiums. The high end developments in the area has resulted in reduction of price gap between Thane and Western Suburbs of Mumbai. The average property prices of this region range between Rs. 8000-10000/sq.ft., and annual appreciation has been to the tune of 7-10% depending on the specifications of the project and amenities offered.
SELLER
BUYER
LAND PARCEL DEAL VALUE (Crores) (Acres)
YEAR
Color Chem
Kalpataru
25 acres
50 crores
2004
Clariant Chemicals
Kalpataru
35 acres
240 crores
2010
Gammon India
135 acres
726 crores
2011
Unknown Builder
9.5 acres
140 crores
2012
Kalpataru
104 acres
1,250 crores
2012
PAL - Peugeot Raymonds Bayers KEC International, RPG Group
TATA Housing
7 acres
214 crores
2014
Clariant Chemicals
Lodha Group
87 acres
1,150 crores
2014
13
CURRENT STATUS
THANE MICRO MARKET
GHODBUNDER ROAD : RESIDENTIAL REAL ESTATE, LEADING DEVELOPERS & PRICE TRENDS Towards
Arabian S
ea
Thane
Ulh
To Surat
as
Riv
er
d aoda Rr oR edre nudn bdub ohdo GhG
Bhyander Pada
Lodha Splendora d
oa
li R
Puranik City
To Borivali
a av
ad
rv
sa
W ag hb i
lR oa d
Ka
d
Hiranandani Estate
nd
an
iR
oa
Haware City Towards Haware City
Hi
ra
na
Vijay Galaxy
ad Ro d an m ah Br
Yeoor Hills
Patlipada
Lodha Clarient
Kalpataru Hills
Kapurbawdi Flyover
pv
U
Runwal Estate
Acme Ozone
k Po
kPho Hiranandani rkah Meadows nraR noR aod aN d oN .o2.
Dosti Landmark
To w
Po
an
hr
Military Ground
Dhokali Naka
lsh
Dosti Imperia Wadhva Courtyard
Ko
Overhead Tank
ds
an
Rd
d
ar
ke
2
Lodha Luxuria
Ro ad
JunctionHighland Haven
.1
No yay
wa gwh
i ghh ssi reH s p xs
Dosti Vihar
Lodha Grandezza
ee nr exrp sEt a En
r
te
s Ea
Proposed Metro Line
d
ra Roa
Old Ag
Majiwada
Cadbury Junction
Kolshet
Wadi R oa
et
Tikuji N i La
er
Lodha Clarient
s Riv
Ulha
Brahmand
Eastern
Towards
Express
Rustomjee
Highway
Nashik
To w
Rustomjee Urbania
ar
d
Pu
ne
Cosmos Prime
way
h waHyig ss igh pre xH resEs prn EaEsxte rn
Easte Teen Hath Naka
Flyover Express Highway Proposed Metro Line
14
THANE MICRO MARKET
PRICE APPRECIATION IN RESIDENTIAL MARKET
15
THANE MICRO MARKET
PRICE NOTES
Towards
Thane
Arabian Se
a
Ulh
To Surat
as
Riv
er
d aoda Rr oR edre nudn bdub ohdo GhG
Bhyander Pada
Lodha Splendora ad
ali
Puranik City
To Borivali
Ro
av
ad
v ar
s
W ag hb il
Ro ad
Ka
d
Hiranandani Estate
od
nd
an
Gh
iR
oa
Haware City Towards Haware City
Hi
bu
ra
na
Vijay Galaxy
ad d
Ro
er Br
ah
m
an
Brahmand
Patlipada
Lodha Clarient
Kalpataru Hills
Kapurbawdi Flyover
Tikuji N
Dosti Imperia
et
ar
Dosti Landmark
ra Road
Old Ag
Lodha Luxuria
n
ra
kh
Po
kPho Hiranandani rkah Meadows nraR noR aod aN d oN .o2. 2
To w
Po
Military Ground
Dhokali Naka
ds
v Up
oad Runwal Estate
Overhead Tank
Ko
an
Kolshet
i Wadi R
Rd
k La
lsh
e
er
Lodha Clarient
s Riv
ad
Ro
Ulha
nd
Yeoor Hills
Ro
Majiwada Junction
ad .1
No ay way gwh hhi
Dosti Vihar
st
sE
Ena
er
Cadbury Junction
ig Hss sre xsp ree rpn x e t
Ea Lodha Grandezza
Proposed Metro Line
Towards
Rustomjee Ea Easte stern rn Ex Expr pres esss Hi High ghwa wayy
Nashik
To w
Rustomjee Urbania
ar
d
Pu
ne
Cosmos Prime
ay hway ighw HHig ssay ss rehw ig xp Hre EExp rnss re tern te as Exp EEas rn
Easte Teen Hath Naka
Flyover Express Highway Proposed Metro Line
Blank spaces provided for ď€ lling location, developer and price information like primary market, secondary market, price movement etc.
16
THANE MICRO MARKET
OTHER IMMINENT REALTY MARKETS AROUND THANE GHODBUNDER ROAD
Airoli is a developing micro market in Navi Mumbai. It is situated little off from the main Navi Mumbai suburbs and is closer to Mulund and Thane. Developed by CIDCO (City Industrial Development Corporation), Airoli is now managed and administered by NMMC (Navi Mumbai Municipal Corporation). It is known for its good road connectivity with Mumbai main land via Airoli Bridge. The Thane and Belapur road connects it to both Thane and Vashi. The Eastern Expressway is also in close proximity. Airoli is a good investment as well as end use destination as it is close to the job creation centers like the IT SEZ - Raheja Mindspace, MIDC Tech Park, Patni Knowledge Park and industrial belt at Ghansoli.
Dombivli and Kalyan, the 2 micro markets, are the downtown central suburbs which account for 11% of the total planned residential supply in Mumbai Metropolitan Region. Dombivli-Kalyan is a twin city which comes under the KalyanDombivli Municipal Corporation, and is a part of Thane district. This micro market is connected to other parts of the city via rail (Central Railways) and road (BhiwandiKalyan-Shilphata Road). There are planned infrastructure initiatives such as the Kalyan-Ulhasnagar-Dombivli monorail line to boost the daily commute. Decent land cost in this corridor strengthen the feasibility to launch a project at affordable rates, and in recent past it has been observed that residential projects with affordable rates have higher absorption rate.
Bhiwandi is a town only 20 km away from Thane which is now rapidly growing as a destination for home-buyers looking for budget homes. The area has good connectivity with NH-3. Also, being an industrial hub, the area has good infrastructure, with 24-hrs power and water connection. New real estate projects arriving in Bhiwandi is making it the 'next affordable' destination for home buyers. With western suburbs feeling the pinch of being overcrowded and the central suburbs already tapped into for quality housing, Bhiwandi becomes an alternative choice for buyers as well as developers.
Mulund is a well-planned suburb of Mumbai. Located close to the boundary of Navi Mumbai and Thane, this suburb has seen synchronized growth in both residential as well as commercial sectors. Mulund once catered mainly to buyers from mid-income segment, but now offers various prime residential options as well. Mulund is very well connected to other suburbs and even other cities with a good network of trains, best buses and roads - including a national highway. Additionally, Mulund has good recreational and entertainment facilities and quality social and civic infrastructures such as educational institutes and hospitals. As compared to the more affluent property destinations of Mumbai, Mulund's residential market is still quite reasonable and is therefore seeing considerable demand.
17
THANE MICRO MARKET
OTHER IMMINENT REALTY MARKETS AROUND THANE GHODBUNDER ROAD
Ul
ha
s
Ri
ve
r r
ve
Bhivandi
s ha
Ri
Ul
as R
Ulh
Kalyan
iver r
ve
as
Ri
h
Ul
Ul
Thane West
r
ive
sR
ha
Dombivali
Mulund
18
Airoli