Are you confused between buying a property in Thane and Navi Mumbai? Which area is better concerning investing in property? Would a locality give you the better rental income?
If you are bothered by these questions while zeroing in on a property in Thane and Navi Mumbai, you don’t ‘need to worry anymore! It is because we are here to provide you with some inputs that will clear your thoughts.
If you talk about the connectivity, both Thane and Navi Mumbai enjoy good access via the local suburban train network. What’s more, even the Eastern Highway connects Thane to South Mumbai. The Navi Mumbai residents are also well connected by Sion-Panvel Highway with the rest of the city.
Thus, connectivity-wise, a property in Thane and Navi Mumbai both looks a promising investment such as Dosti West County and more.
The real estate developers were looking beyond Mumbai for industrial and commercial development. Hence, Thane then made the most of it and joined the industrial revolution.
Soon, the area’s commercial and industrial development paved the way even for residential development. The city has not looked back since then. As you read this, Thane is India’s one of the Smart Cities.
On the other hand, Navi Mumbai came into the spotlight only after the declaration of Maharashtra IT/ITes policy. The subsidies and incentives for companies led investors to Navi Mumbai. And the city grew into one of the earlier planned cities in India.
Thane is a part of the Mumbai Metropolitan Region, and its own municipal body came into being in 1982. On the other hand, Navi Mumbai was developed and is maintained by the City and Industrial Development Corporation.
The cost factor
As compared to any property in Thane, the Navi Mumbai property rates are relatively lower. Example – you may get a 2BHK in Navi Mumbai for Rs.50 lakh. The same property in Thane would cost you Rs.60 lakh at least.
Nonetheless, if you try to search for a property in Thane areas such as Dombivli and Kalyan, you may bump over a lower priced property.
Navi Mumbai is on the edge of development due to many emerging large-scale infrastructure projects. It comprises of the Navi Mumbai Airport, Trans Harbour Link Road, Navi Mumbai Metro Rail and more.
Once these projects are ready to roll, the property prices here will surely soar. Hence, if you can invest in Navi Mumbai, you can surely get a huge ROI later. Even the rental income will be nice if you let out the properties.
Areas in Thane, on the other hand, have also seen a rise of 5-8% over the last 2-3 years. Overall, home buyers prefer a property in Thane because of its strong civic and social infrastructure. Navi Mumbai, still, has a lot to conquer compared to Thane.