With housing needs peaking in Mumbai over the years, the city has been growing peripherally. Suburban locations like Thane and Navi Mumbai have gained prominence as real estate destinations. The prices in such locations are affordable compared to locations within the city limits. The continued focus on infrastructural projects in suburbs, and development of modern housing projects like Raunak Unnathi Woods, provides excellent opportunities for real estate investors to invest in these places and reap the benefits of growth in the future.
Both Navi Mumbai and Thane score high as property investment destinations. A comparison between the two locations will help you get a clear idea about which location is best for you:
Infrastructure & Connectivity
The infrastructure in Thane is quite good with wide roads and accessibility to urban conveniences. It is well-connected to all parts of Mumbai. The Eastern Express Highway connects Thane to South Mumbai. The connectivity of Thane will be further enhanced with the construction of Metro rail from Central Mumbai to Thane. Thane also boasts of some of the best malls in the city.
Navi Mumbai is a planned city with good infrastructure and connectivity to most parts of the city. The Sion-Panvel Highway connects Navi Mumbai to Mumbai city. The proposed Trans Harbour Link Road in Navi Mumbai will further improve its connectivity with the rest of Mumbai.
Properties in Navi Mumbai cost lesser than properties in Thane. If you have a preference for premium apartments, Thane has an array of them from where you can pick one. If you are price-conscious, you can choose apartments in certain pockets of Thane like Kalyan and Dombivli at lesser prices. The real estate prices in Navi Mumbai are gradually rising after the announcement of the Navi Mumbai International Airport.
Currently, there are about 3300 properties that are available for sale in Navi Mumbai while there are around 900 in Thane. There are 1BHK and studio apartments also on offer in both places. For instance, you can check out Unnathi Woods located off Ghodbunder road in Thane. The project is known for its green surroundings, top class infrastructure,and best-in-class amenities.
Many home buyers prefer to invest in Thane due to the excellent infrastructure and better social life that it offers. Real estate in Thane has recorded a rise of 6-8% during the last two years. There are many new residential projects in Thane that are luring the investors.
Infrastructure in Navi Mumbai is also expected to enhance rapidly with many infrastructural projects lined up to the completed. During the past two years, property prices in Navi Mumbai have increased by 8-12%. It is expected to appreciate further.
So, based on your preferences and financial capability, Thane and Navi Mumbai both offer ample opportunities for real estate investments. If case you require any financial assistance, you can opt for Home Loans by Bajaj Housing Finance Limited. With these home loans, you can raise funds up to Rs. 10 crores and use it to meet all your home financing needs.
Richa is a passionate financial blogger and financial adviser. She has been serving society as a financial adviser for the past 8 years. She has an amazing solution for every finance-related query. She shares her financial tips and tricks on Loantrivia.com