catchnitin

Guys,

Why is the thane property market so low compared to the western suburbs ? I see that even hiranandani is below 5000 psf. I have stayed in western suburbs all my life but now considering buying in thane from cost perspective.
My questions are
1) Advantages\Disadvantages of staying in thane.
2) Good areas to stay in thane without going broke buying the flat.

Replies really appreciated.

mumbai2010

I am neither from Thane nor am I aware of the localities over there but recently I have checked out resale flats in Thane (close to the station) and found out the rates to be quite similar to Mumbai. But once you go further from the station, the flats are quite cheap. The major construction which is happening in Thane in on Ghodbunder Road and these projects of Hiranandani and the like are situated approx 0.5-1km off the Ghodbunder Road. Considering that the prices quoted are definitely on the higher side.

sagi7

Guys, sorry but the rates in Hiranandani either Estate are meadows are way upwards of Rs.5,000/- though properties of Vijay group could be had from 3500 - 4500/-. Ghodbunder looks like a good neighbourhood provided u need not come to the city daily, though i know a few who do that n are quite happy

sreekys

Hi..it is a misnomer that rates are reasonable in thane. Now the rates are pretty high there as well. Take Vasant Lawns and Lodha Luxuria for example the cost easily works out to more than a crore for a decent house. Car Parking ranges between 5 to 7 lakhs. One advise though like one of the members have advised ghodbunder is a good option provided you don't have to catch the train to come to work to town everyday. As a township you will certainly find thane more green than most western suburbs and certainly less crowded and congested. I would suggest look for something in Pokhran No.1 so you are not too far from anything.

wealthcreator

Rates in Thane depends on who the builder is. If you will look at rates Hiranandani , Kalpataru and Sheth. They are far more than other common / local builders but backed by predictable quality.

Dosti Group launched new project at Ghodbunder Road , Manpada last week started with 5900 PSF on gardern facing and 5750 PSF Road facing.

AJ2008oo

Good flats in Thane are way to expensive considering its location and surprisingly even amenities. The big builders tout the swimming pools, tennis courts etc. If you look at the ratio of amenities to the flats it is very low e.g. one Swimming pool for over 1000 flats is not going to be very useful since everyone wants to swim only during certain hours of the day. Eventually at many places, these amenities become white elephants that people don't see the value in and stop maintaining.

e.g. Meadows a 999 sq.ft (super built up) flat costs about 75 L (conservative) plus 5 lakhs per parking spot, plus Rs. 2-3 lakhs for society charges, if its an investor flat there are 'transfer charges' etc. It all comes to about 90 Lakhs for a flat of carpet area of 750 sq.ft. You are paying over Rs 12000 per sq.ft. for a tiny apartment in a location that takes 1 hour to reach from central Mumbai and about 2 from south mumbai or western suburbs. The cost of traveling by car is very high.

Do you think this is low or worth it?

You may not have much of an option but don't be fooled in thinking rates are low in THane or that it is some kind of oasis. It is greener than many areas in MUmbai but that's about it.