QUARTER REVIEW: THANE GAINS POPULARITY

Thane should be credited for relieving pressure from Mumbai’s residential market. Not just Thane, other satellite towns such as Bhiwandi and Navi Mumbai also share the responsibility. The city is gaining popularity due to new planning and availability of open areas.

One of the new plans got approved by Mumbai Metropolitan Region Development Authority (MMRDA) the Metro IV project connecting Thane to Wadala via the LBS Road and the Eastern Express Highway.

The 32-km stretch will cost Rs 14,549 crore. This project will further help in increasing the demand for housing units. At present, Thane caters largely to spill over demand from the middle income working population of Mumbai, and has price points much lower than the micro-markets of Mumbai. Almost three fourth of its residential supply is under Rs 11,000 per sq ft.

What makes Thane different from other Tier 1 cities of the country? The micro-markets are widely distributed across the city limits because of various forest and hilly areas in between the clusters. Also, prices decline concentrically as one moves away from the city. Thane’s premium developments are located on the periphery it shares with Mumbai, instead of its centre.

The city has become a preferred area for premium investments. This quarter, many reputed developers chose Thane for their construction. The amenities being offered along with these properties are lavish which fit perfectly in their high-budget segment.

Some of them include lush open air sky gardens at terrace level, which double up as fitness zones, and open air ‘sky communities’ – large double height community congregation areas - at intermediate levels, etc.

Other luxurious amenities like swimming pools, multi-purpose courts and yoga decks seem to have fascinated investors. Since property prices are comparably lower, the demand remains consistent, although 2 BHK & 3BHK APARTMENTS PRICES IN THANE have risen marginally this quarter.

There are other reasons behind the increased interest - walk-to-work concept as it has been attracting many conglomerates and manufacturing companies to set their base here. Consumers prefer living close to office hubs for a healthy work-life balance. Good connectivity and improving infrastructure have attracted investors and influenced their buying decision.

All in all, the future of the realty market of Thane looks promising.

BUY SPACIOUS 2BHK AND 3 BHK FLAT IN THANE, Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in

INDIA'S REAL ESTATE SECTOR CAN BE 3RD LARGEST GLOBALLY BY 2030

The real estate and construction sector in India is expected to be the third largest globally by 2030, contributing over 15% to Indian GDP and emerging as the largest employer in India providing employment opportunities to over 75 million people.

A recent background paper by KPMG in India and the National Real Estate Development Council (NAREDCO) provides an overview of the key programmes launched by the central government in the recent past to address the key challenges in urbanisation and the REAL ESTATE SECTOR, and throws light on the policy reforms undertaken by government to address these concerns.

The paper highlights that India's urban population is forecast to increase by about 40% from 420 million in 2015 to over 580 million by 2030. The government has launched several large programmes (such as Smart Cities, Housing for All, AMRUT, HRIDAY etc.) along with policy support (Real Estate Act, REITs, GST etc.) to accommodate such a vast population. According to the paper, nearly 110 million houses would be required by 2022 alone in urban as well as rural India to provide housing to all citizens. This includes the current shortage of over 60 million houses, out of which around 20 million exist in urban areas.

As per the paper, there are a number of solid infrastructure projects in the pipeline. These include 432 projects worth Rs 6.5 trillion for roads, more than 400 projects worth Rs 6 trillion in railways, 70 projects worth Rs 670 billion for the development of airports and 75 projects worth Rs 551 billion for ports.

BUY SPACIOUS 2BHK AND 3 BHK FLAT IN THANE, Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in

STATE PLANS 4-KM COASTAL ROAD TO EASE THANE-BHAYANDER CONNECTIVITY

Work Likely To Start By March Next Year After Feasibility Report

The state government is planning to construct a 4km-long coastal road connecting Thane and Bhayander.

The Mumbai Metropolitan Region Development Authority (MMRDA) is working on conducting a feasibility report following which the work is likely to start by March 2017.

According to initial plans, a six-lane road along Thane creek is likely to be proposed connecting the Ghodbunder entrance at Kashimira and Jesal park at Bhayander east. The near 4km-long road will run perpendicular to the existing highway and is proposed to bypass the interstate traffic. There is an existing road at both ends which will be connected by an elevated stretch of nearly 2km over the mangrove belt. The decision was taken at a MMRDA meeting held recently .

There has been a considerable increase in the volume of traffic between the two adjoining cities of late. Commuters are forced to spend a gruelling two to three hours at the stretch to cover the 12km-long distance.

The perennial traffic movement along the national highways that is presently the only fastest and shortest way to connect both these cities, is often plagued with interstate freight and tourist traf fic slowing down the intercity passenger flow. “Small passenger cars or city buses often get trapped in traffic snarls on the Ahmedabad highway or Ghodbunder Road. An alternate road is required for faster disposal of passengers between the two cities,“ said a traffic official.

The road will considerably cut down travel time between the cities, said an officer as a few other initiatives like Kolshet bypass and the elevated corridor between Fountain Hotel and Gaimukh will also lead to faster movement of intercity traffic.

“There is an increase in vehicular traffic between these cities and an alternative has to be found.We have surveyed the area and are hoping the road would materialise soon,“ said local MLA Pratap Sarnaik.

“The road has been approved and the chief minister has allocated Rs 80 crore for the same. We will study the feasibility and come up with a revised budget for the same following which tenders will be called by the year end,“ said a MMRDA official.

Meanwhile, the planning agency has decided to rope in a consultant to study the feasibility of having a seamless elevated road running over Wadavli, Anand Nagar and Ovala junctions on Ghodbunder Road. There was a plan to construct three flyovers at these junctions but the planning agency is mulling having a continued bridge to segregate outbound and city traffic.

“We are in the process of studying the feasibility of the elevated road at the stretch. We will prepare a project report and the same should be ready within three months,“ said a MMRDA official.

BUY SPACIOUS 2BHK AND 3 BHK FLAT IN THANE, Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in

THANE'S REAL ESTATE SECTOR TO SWING INTO ACTION

Driven by infrastructure, Thane's real estate sector is expected to swing into action. The building blocks enhanced connectivity and city development initiatives, are key to the generation of buyer demand although, you cannot dismiss the probability of its inclusion within the municipal corporation limits and residential affordability as also impertinent.

We have summed up Thane's positives in the first quarter of the year 2016.

Connectivity

The Panvel-Bhimashankar-Chakan Highway connecting Mumbai to Karjat; Neral-Badlapur Highway connecting Karjat to Khopoli or Pune; Majiwada Junction Flyover giving smooth connectivity to commuters to Mumbai, Nashik, and other areas are some drivers. Various PROPERTIES ARE AVAILABLE IN THANE GHODBUNDER ROAD catering to both commercial and residential development and ensuring connectivity to Eastern and Western Express Highways in Mumbai has also been a determinant.

Infrastructure

The city's development drive includes upping its social infrastructure; upgrading water treatment plants; supply of potable water and underground drainage network. All these factors resultantly lead to impacting the real estate sector positively.

Other factors

Other influencing aspects of Thane such as home loan affordability; availability of modern and good quality building projects; well-designed and efficiently planned spaces in the offering cumulatively compel everyone to expect a growth-oriented 2016.

PROPERTY PRICES IN THANE are slowly on the rise than its near peers but going forward due to rapid development, prices may rise. A growing interest from the local workforce and investors in properties here might also push prices.

The affordable housing segment of Thane can expect a facelift this year. Two developers' associations have signed a MoU to build 5.69 lakh affordable dwelling units across MMR. Despite the six percent increase in the ready reckoner rate, Thane's real estate experts are of the opinion that infrastructure will be a driving factor of the city's realty.

BUY SPACIOUS 2BHK AND 3 BHK FLAT IN THANE, Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in

SAMPLE FLATS: A Myth or Reality?

Sample flats have become a popular tool used by developers worldwide to showcase their residential developments. However, should you make a purchase decision simply on the basis of that? We help you decide better.

Time conscious home-buyers are looking to secure a profitable deal with the ease of investing safely. There are various avenues that offer a secure investment of property from a real estate developer. One of the means is to know the builder first-hand while looking for under- construction Property. Developers who wish to show under-construction flats usually have the option of sample flats that are put up for representational purposes only.

A potential buyer has the option of seeing the final layout of the flat near the sales office of the real estate builder. This reduces the risk and hassle of properties under-construction and generates high investments from investors. However, a potential buyer has to be very cautious when looking at investing in a flat and this decision shouldn't be based on seeing only the sample flat. In fact, even when there are other factors like location, costs, area, etc, sometimes more weightage is given to the appearance alone. Many a times, builders do the interiors of the sample flats in a way to make it look more 'spacious' and give the feeling of it being a 'premium space'. 

"Buyers who take the decision solely on the basis of the sample flat need to be careful and question the builder's salesperson about 'what items of the sample flat will be provided by the builder in the actual flat - paints, flooring, sanitary ware, wallpaper, modular kitchen, etc,"

Sample flats are made to look attractive, spacious and give a premium feel to the potential buyers. Developers generally use very high quality decorative materials and glass to attract the attention of the potential buyers. Often these flats have small size furniture to appear more spacious. 

In the current real estate market scenario, people are willing to gain full knowledge about investment options and builders, thereby eliminating the situation of incurring monetary losses. "Probable customers can conduct a thorough inspection after 60-70 per cent of the building is constructed in order to ensure that the purchased flat fits the features of the sample flat. You will get to see all variants of flats like 1, 2 BHK Sample Flats. Prefer watching the Sample Flats which are available inside the building not that is constructed outside.

Factors Tie Home-Buyers Should Keep In Mind While Visiting a Sample Flat :-

1. Use of rich furnishings, upholstery, high-end furniture and fitting colour schemes give the room a grand, wide and bigger look;
2. Absence of doors between rooms makes the space look bigger, use of gypsum walls, mirrors in the room and placement of small furniture make the rooms look big;
3. Placement of artificial lighting confuses the end buyer on the amount of natural light the apartment will get;
4. Also, the sample flat might include false ceilings made of PoP mouldings, which may or may not be included in the buyer's apartment.
5. Sample flats are mostly furnished with modular kitchen, geyser attachments and ACs and wood work here and there, of which what is included in the buyer flat is ambiguous. Thus, a potential buyer has to be careful of these elements and then should make the home-buying decision accordingly.

 

Buy Spacious 2BHK and 3 BHK Flat in Thane, Contact Prestige Residency sales office to Know More @ 022 25985951 - 55 

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in