Key infrastructure projects to change the realty game in Thane
A plethora of infrastructure projects amounting to almost Rs 50,000 crore once materialized would propel substantial real estate demand in Thane, Mumbai Metropolitan Region (MMR).
The livability quotient of the Thane is likely to go up soon as several mega infrastructure projects in the city would not only make commutation easier but would also reduce the burden on existing infrastructure projects and alleviate the transport woes. Besides, the present social-civic infrastructure has also led to the evolution of a progressive ecosystem that contributes to the lifestyle of its citizens.
Upcoming infrastructure projects –
Thane-Wadala Metro 4:
Spread over 32.32 km, the Thane-Wadala Metro 4 will be a fully elevated metro corridor that will operate between Kasarvadavali along the Ghodbunder Road, Thane and Wadala in Mumbai across 32 stations. Some of the popular areas that the metro will pass through include, Ghatkopar, Teen Hath Naka, Mulund, and Patlipada in Thane. The estimated development cost of the project is Rs 14,600 crores and will prove to be a game-changer for the twin city, Mumbai-Thane.
Mumbai Metro Line 4A
An extension of Metro Line 4 planned from Kasarvadavali to Gaimukh; Metro Line 4A will connect to Metro Line 10 in Mumbai and may prove essential for rail corridors in Thane. It will be developed at the cost of Rs 949 crore and will connect to two crucial stations Gowniwada and Gaimukh.
Mumbai Metro Line 5
Mumbai Metro Line 5 is a part of the metro system which will connect Thane to Bhiwandi and Kalyan. The 24.9 km-long metro corridor will cost around Rs 8,416 crore and cover around 17 stations. It will be an elevated corridor and significantly reduce road congestion.
Mumbai Coastal Road to be extended up to Ghodbunder Road, Thane:
The planned extension of the Bandra-Versova Sea Link (BVSL) to Ghodbunder Road, Thane, will be a 33-km extension of Mumbai Coastal Road. It will start from Versova, the end of the Sea Link and will head towards Marve linking Ghodbunder Road, Thane at NH-8 via Bhayandar. The development work on the stretch has already started, and once through, it will significantly improve connectivity between The and Mumbai.
Thane-Borivali underground tunnel:
With a development cost of Rs 8,900 crore, the Thane-Borivali underground tunnel would reduce the travel time by almost 2-3 hours at Godbunder Road. Once through, it would take around 15 minutes to commute between the 21 km stretch. The project will have a km long link-road with a 10.20 km long tunnel that will be developed under the Sanjay Gandhi National Park and will start from Tikuji Ni Wadi (Thane) to connect to Borivali at the Western Expressway.
Waterways:
People travelling between Thane and South Mumbai can also opt for water transport to avoid traffic snarls. The Thane-Mumbai waterways will be developed at Rs 661 crore, and Phase 1 of this project will connect Thane with Vasai and Kalyan, while the second phase would connect Thane with Mumbai and Navi Mumbai. As per estimates around 3000 commuters would benefit from this service and would save approximately one hour when travelling from Mumbai to Thane. In contrast, commuters of Navi Mumbai would save around 30 minutes when commuting to Thane.
The real estate growth
Thane caters to people from all walks of life. However; the improved standard of living has also made it a hotspot of spacious luxury homes for those who are willing to live an improved lifestyle with enhanced amenities in and around their homes.
Holistically, Thane has grown as a preferred destination among potential home buyers. However, the slew of mega infrastructure projects will further bode well for real estate development and will undoubtedly improve the living quotient in the city. Besides, the ongoing developments will also help the prospective end-user and investors to reap higher capital appreciation in future.