A property’s price growth is influenced by the area’s level of development or by whether any projects are in the works that will aid the housing market. Some of the areas in Thane that are expanding quickly are Kalwa, Dhokali, and Owale. These locations have emerged as the fastest-growing places to invest in Thane due to their developing infrastructure and 5-8 percent YoY price growth.

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Due to numerous infrastructure improvements and chances for economic expansion, Thane has undergone a thorough makeover. The main growth drivers for Thane have been identified as excellent connectivity and rising real estate. Thane has rapidly urbanized in recent years, according to, Executive Director of Cube Ventures. The involved authorities are preparing connectivity, transport links, and infrastructure in light of the rising density. The Mumbai Metropolitan Region Development Authority’s (MMRDA) proposed metro corridor to Thane will help connect the area’s various communities and entice additional investment. These are a few of the Thane neighborhoods that are currently growing the quickest.

Kalwa, Thane

Kalwa, Thane Kalwa is a reasonably priced neighbourhood with a good selection of 1 BHK and 2 BHK homes that are ready to move into. Home values in the area increased by almost 12 percent YoY and are now at Rs 10,000 per square foot. For a 2 BHK apartment, monthly rent here typically ranges about Rs 22,000. The Mumbai Suburban Railway’s Central Line features a specific station for the area. The Mumbai-Pune Highway and the Kalwa-Belapur Road also contribute to the strong connection.

“Many investors tapped this locality during the lockdown as by then the plans for an elevated railway corridor to connect Kalwa Station on the Central Line to Airoli Station on the Trans-Harbour Line and construction of metro lite in the locality were announced,”  Om Properties, Thane. In the past year, this has already caused a rise in Kalwa property values of more than 10%.

Thane, Owale

Owale, a rapidly growing neighbourhood along Ghodbunder Road, serves the inexpensive and middle-income housing markets. Excellent public transportation is provided throughout the city by the Mumbai State Road Transport Corporation (MSRTC). With the proposed Line 4 of the Mumbai Metro expected to become operational by 2024, connectivity is likely to considerably improve. It is planned to build the closest metro station at Kasarvadavali, just four kilometres away from Owale.

After a 4.3 percent YoY price increase, the average property price is now around Rs 9,500 per square foot. Rent for a two-bedroom unit starts at Rs 17,000 per month, making it moderately cheap.

Thane, Dhokali

Among working professionals, Dhokali is a well-known neighbourhood. It is only three kilometres from Lodha iThink Park, and seven kilometres separate it from Kolshet and Wagle Industrial Estate. The demand for rentals in this area is driven by proximity to job centres like Mulund West and Kolshet Industrial Area. Furthermore, Ghodbunder Road offers inhabitants of Dhokali quick access to important employment centres in Mumbai & Navi Mumbai. The Chhatrapati Shivaji Maharaj International Airport is roughly 25 kilometres from Thane Railway Station.

Property values in this mid-segment neighbourhood have increased by about 4% YoY, currently average at Rs 12,350 per sq ft. Rents in the region begin at about Rs 18,000 per month. On Line 4, which runs between Kasarvadavali and Wadala, Dhokali is close to the planned Manpada Metro Station. The planned Borivali-Thane tunnel road will improve communication between Dhokali and Mumbai, which will increase the flow of both investors and homebuyers.

Social infrastructure around fast-developing localities in Thane

Thane, Waghbil

Waghbil, which is next to Hiranandani Estate, offers pre-built flats for about Rs 8,500 per square foot. The Ghodbunder Road provides seamless access for Waghbil residents to neighbouring Thane neighborhoods. Furthermore, Kolshet Road, a developing commercial district less than six kilometres from Waghbil, is nearby. A 2 BHK can be rented for roughly Rs 21,000 per month.

While Saki Naka Metro Station on Line 1 of the Mumbai Metro is now far away (27 km), Waghbil residents will soon be able to enjoy a metro journey via Kasarvadavali Metro Station (1.9 km), which is planned on Line 4 of the Mumbai Metro. Additionally, it is anticipated that the proposed tunnel connecting Tikuji-Ni-Wadi and Borivali (5.7 km from Waghbil) will enhance connection. These elements will further increase investors’ interest in the area.

Thane, Karjat

Karjat, which offers plots, farmhouses, villas, and resorts, has become a popular vacation home choice among high net worth individuals due to its advantageous location halfway between Mumbai and Pune. Additionally, the neighbourhood offers a wide selection of 1 and 2 bedroom ready-to-move homes in the Rs 30-35 lakh price range. The close proximity to Chauk-Katraj-Murbad Road (NH-8) and Katraj-Neral Road (SH-79) guarantees connectivity to Navi Mumbai and Pune.

The projected Panvel-Karjat Suburban Rail Corridor will increase connectivity with the distant reaches of the Raigad District, even though the removal of Karjat off the list of halt stations for the Mumbai-Pune Intercity Express will provide difficulties for frequent travelers.

In Karjat, where current property prices are around Rs 3,600 per sq ft after having increased by seven percent YoY, proximity to the future Navi Mumbai International Airport is anticipated to stimulate real estate expansion.

Kalyan West, Thane

One- and two-bedroom apartments in gated communities make up the majority of Kalyan West’s premium housing stock. The Central Line of the Mumbai Suburban Railway Corridor’s Kalyan Junction Railway Station provides excellent service to the area. It is the location of important developers’ projects, including those from Godrej Properties, Mahindra Lifespace Developers Limited, and Tata Housing, among others. Although it is a well-known area now, a number of future developments will boost its appeal as a residential hub.

Kalyan’s connection will improve thanks to the currently under construction Mumbai Metro Line 5 (Thane-Bhiwandi-Kalyan) (West). Under Mumbai Urban Transport Project (MUTP) 3A, there are also proposals to build a railroad line that will connect Kalyan and Asangaon.

Markets are close by, and there are decent schools and hospitals nearby, according to a person, a former resident of the area. Residents complain about “traffic bottlenecks,” but they are content to see that the “region is developing swiftly.” Following a nearly 6% price increase in the previous year, the average home value in Kalyan West is currently around Rs 7,300 per square foot.

Badlapur, Thane

Badlapur is well-known as an affordable property hub in the outside Thane region, with prices average approximately Rs 4,100 per sq ft. To Kalyan, Dombivali, and Thane, it offers smooth connectivity. Travel time between Mumbai & Badlapur would be slashed by 30 minutes thanks to the planned elevated road. Additionally, additional buses and cars have been planned to enhance connectivity to other MMR regions. Along with improving road accessibility, the forthcoming Badlapur metro station on Line 14 (Magenta Line) would make getting about easier for locals. In addition, 15-car fast local trains will be introduced by Central Railways between Kalyan and Badlapur. Home values have already increased by 3% YoY as a result of these statements.

Thane has become a popular place for housing as Mumbai’s real estate prices increase as a result of the city’s expanding population. Real estate investors have become interested in numerous Thane suburban locales as a result of this and a substantial infrastructure development.

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