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property in thane

Property in Thane

If you are looking for property in Thane? Visit Prithvi Land Project a very reputed player providing property in Thane within your budget.

A few decades back when Mumbai was still Bombay, it was beginning to become saturated in terms of space and public infrastructure, that’s when the city began expanding towards Thane and the upcoming region of Navi Mumbai. Thane was always a close competition to Mumbai when it came to budget accommodation, but with increased demand for living space, the real estate market of Thane began growing. Property in Thane progressed from budget accommodation to premium housing solutions. Thane began getting preference by people who wanted a better and bigger house in a budget that would ideally fetch them a smaller space and compromised lifestyle in the mainland Mumbai. Plus there were good construction projects coming up in Thane. At that time most of the commercial offices were centred around the old commercial hubs of Mumbai, i.e. Churchgate, Nariman Point, Marine Lines, Charni Road, Grant Road, Bombay Central, Worli, Fort, Ballard Estate etc. The people who were choosing Thane as their new living space were either single income families or DINKS (Double Income, No Kids) or they had parental support to take care of their children. Despite, the burgeoning demand, the rate of property in Thane remained stable for a few years.

But by late 1990’s and 2000, the traditional commercial centres of south Mumbai became over-crowded and incapacitated to fulfill the commercial real estate demand. Offices began moving northwards to new commercial hubs like Lower Parel, Bandra-Kurla Complex, Andheri (East), Andheri (West), Malad etc. Besides better rental or bigger owned spaces at lower price, reducing the travel time for employees was also taken into consideration. With good connectivity through railways and road transit, the travel time reduced. This attracted the attention of big real estate brands to Thane, which began constructing big township complexes comprising of world-class buildings and bungalows. As a result property in Thane started coming at par with Mumbai and other major cities of India.

Thane also has a big number of industrial complexes. Unfortunately many of the small, mid-level and big factories became defunct in the wake of labour issues. Over a period of time, the legal matters got resolved in the court or through out of court settlements, and the plots occupied by such companies became available for commercial or residential redevelopment. The high prices of Mumbai’s commercial real estate pushed some companies towards Thane. Once this began happening in larger numbers, the residents began considering better lifestyle by living in a bigger space which is closer to their new workplace in Thane. They began demanding and buying bungalow plots, which is why we now see beautiful and spacious bungalows in Thane. Buying bungalow property in Thane has become a status symbol and a sign of having arrived in life. Prithvi Land Projects offers bungalow plots in Thane Shahpur if you wish to buy a property in Thane.

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