/}} TILT FL, STF TITTLE LA Z Z. = a! E a a=] 3 as H a = S 5 o S oO 0 SPECIAL EDITIONReal Estate General Market Review - Thane i Ghodbunder Road Pokhran Road Wagle Estate Kolshet Road LBS Marg Majiwada & E.E.Highway iINTRODUCTION The Thane 5-6 years ago and that we see today is a stark contrast, We have cleaner and wider roads, better infrastructure, good and safe neighbourhoods, vastly improved by the permission for redevelopment of the industrial belt. Initially viewed as an “extended suburb of Mumbai”, today Thane has its own identity, the city has better infrastructure, lesser congestion, lower cost of living, more greenery and more water bodies than Mumbai. ‘The real estate markets in the country slowed down after the fall in the capital markets earlier this year. Most of the Tier I cities saw an almost immediate correction after the crash, while the developers of Mumbai stood their ground, The Mumbai Market has been a- typical of the Indian realty market, though some of the resemblance is experienced in certain pockets. We could consider the linearity of the city as a good luck or a tough luck for the island city Owing to space constraints in the city the land availability funneled upwards to the North. In the 70s the focus was on “an apartment in town” ie. south Mumbai (then Bombay) in the 80s it moved to an “apartment in Bandra” in the 90s “an apartment in Juhu with a second home in the outskirts or in Lonavala” and come the 2ist century “a first home in Mumbai, a second home in the outskirts and a third home as an investment.” Second homes and homes for investment opportunities in Thane were the talk of the town starting 2002. Blame it to the rains or the liquidity crunch; investors and genuine buyers both are now on the watch out for a “correction” or a better deal. This wait and watch has lead to a slow down in the transactions; however no correction has yet set in, Our motto through the first of its kind real estate review on the Thane market, is to reach out the information to the people curious about the city and to those who thought of Thane as a “poor cousin of Mumbai” vevonthemeresty.com [03 IGE