thane-workbook_portal_final

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