Thane was previously identified as a suburban outskirt of Mumbai. The unprecedented upsurge in land prices in Mumbai, made Thane a coveted property market. The city now boasts of a well-developed labyrinth of flyovers, highways and roadways. The improved infrastructure boosted residential and commercial real estate development in Thane and vice versa. The city offers an array of premium and budget development options. The Knight Frank half yearly report states that the demand in real estate market of Thane grew by 47 per cent. Various micro markets in Thane have been targeted by developers, the most popular among them being Ghodbunder Road.
Location and Connectivity
The 20 km long stretch of Ghodbunder Road, also known as State Highway 42, runs through Thane district and links the Eastern and Western Express Highways of Mumbai. It connects Thane district to western suburbs of Mumbai like Mira Road and Borivali. City buses like BEST (Mumbai City Bus), TMT (Thane Municipal Transport), NMMT (Navi Mumbai Municipal Transport), MBMT (Mira Bhayander Municipal Transport) and VVMT (Vasai Virar City Bus) are a part of the transport system here. There are four flyovers present on the arterial road i.e. at Waghbil, Patilpada, Manpada and Kapurbawdi, which have eased the vehicular traffic situation.
Ghodbunder Road provides easy accessibility to social amenities like schools and hospitals. Hospitals such as Titan Hospital, Orthonava Hospital, Jijai Women’s Hospital, Shree Ramkrishna Netralaya Hospital, Dhanwantri Multispeciality Hospital and Hiranandani Hospital are present in this area.
It also comprises of educational institutes such as A. P Shah Institue of Technology, Hiranandani Foundation School, Shubhamraje Junior College, Veer Mata Hiraben P Shah College of Pharmacy, Kidzee Preschool, Dnyan-Ganga Education trusts, Euro School, D.G international School (ICSE), Sri Maa Vidyalaya and St. Xavier’s High School and Junior College.
Leisure and recreational amenities like Suraj Water Park, The Blue Roof Club, R- Mall and Hypercity Mall are also present in the vicinity.
Ghodbunder Road: Future Development
The future of Ghodbunder has a lot of infrastructural development in the pipeline. There is an upcoming Metro corridor which has been finalized by MMRDA that will run between Wadala and Kasarvadavali on Ghodbunder Road. Along with this, there is also an awaited monorail project, the Thane-Bhiwandi- Kalyan MRTS. An elevated freeway, which will be 4.4 km long and will be built between Ovala and Chenna creek, has also been planned. This has been proposed mainly for the hilly regions and will help de-congest traffic on Ghodbunder Road. The MSDRC (Maharashtra State Road Development Corporation) also plans to build 10 foot-over-bridges with escalators, which will be a safe diversion the pedestrian traffic. The commercial development in Ghodbunder Road has also seen an upsurge. There are upcoming corporate offices, IT parks, malls and retail outlets in the area.
Ghodbunder Road: Upcoming Projects
The developments at Ghodbunder road cater to the affordable as well as high segment buyers. The availability of land parcels has attracted reputed builders like the Lodha Group, Puraniks and Runwal Group to develop projects here.
Raunak Heights by Raunak Group offers affordable 1 BHK flats with areas of 645 sq. ft. and 651 sq. ft., with price ranging from INR 47 lakhs to 51 lakhs.
Unnathi Woods by Raunak Group is a 40 acre township and is being developed in 7 phases.
Vijay Orovia by Vijay Group offers apartments are from 1BHK to 4BHK with saleable area from 636 sq. ft. to 2,465 sq. ft., with price ranging from Rs. 51 Lakhs to Rs. 2.5 Cr.
Hiranandani’s township at Thane is a mixed-used integrated township in the works, spread across 250 acres of land.
Raj Torres by Rajesh Lifespaces have 2, 3 and 4 BHK apartments ranging from741 sq. ft. to 1448 sq. ft. The apartments cost anywhere from Rs.1.14 crore to Rs. 2.25 crore.
Raj Tattva by Rajesh Lifespaces is a premium project offering 3, 4 and 5 BHK apartments. 3 BHKs start at 1131 sq. ft. with the price of Rupees 2.23 Crore, 4 BHKs start at 1977 sq. ft. with the price of Rupees 3.87 Crore.
Other Projects on Ghodbunder Road are Lodha Splendora by Lodha Group, The Walk, Rodas Enclave and Hiranandani One by Hiranandani Group, Rutu City by Rutu Group, Puranik Rumah Bali, Puranik Tokyo Bay and Puranik City by Puranik Group.
As of June 2017, the average price per square feet area at Ghodbunder Road is INR 9000. Ghodbunder Road has an edge over other locations owing to the relatively lower prices when compared to the heart of Thane city. It offers a range of projects, from the affordable segment to premium segment. As the city grows, this area is seeing rapid appreciation in the property market. All of these factors contribute to making Ghodbunder Road a good option for end-users and investors alike.