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Buying a property in a place will include deciding on a lot of parameters, which include the property price trend of that place, its infrastructure growth, its connectivity, real estate projects, and the return on investment.
Let’s check each of the parameters in detail to decide where you should buy a home, in Thane or Navi Mumbai.
Property rates in Navi Mumbai are cheaper compared to Thane because Navi Mumbai is still in a developing stage, and Thane already consists of infrastructure developments.
Thane
Thane East
In Thane East, the average price per sq ft of apartments has increased every quarter since 2023. Currently, the average price per sq ft of an apartment is Rs 17,500 per sq ft.
Thane West
In Thane West, the average price per sq ft of apartments has increased since March 2023. However, since then the price has been more or less constant in the market. Currently, the average price per sq ft of an apartment is Rs 18,250 per sq ft.
Navi Mumbai
On the other hand, the average price per sq ft of apartments in Navi Mumbai decreased till March 2022 and after that, it increased to Rs 8,000- 12,000 till Dec 2023.
These property price trends state that currently, the rate of apartments in Navi Mumbai per sq ft is lesser than in Thane.
Thane
Thane has been developing constantly for the past two decades. Real estate developers began relocating to the area in order to construct a business and industrial facilities.
Thane is now one of India’s emerging smart cities, and the town is already experiencing several changes.
Thane offers reliability because it serves as a centre for several MNCs and well-known businesses.
Thane is maintained as a prominent commercial centre by Syntel, Clariant Chemicals, Wool Research Center, Navnit Motors, and many more businesses.
Navi Mumbai
In Navi Mumbai, the City and Industrial Development Corporation (CIDCO) is responsible for the development of this place.
The most developed neighbourhood for communication between Thane, Panvel, and Mumbai is Vashi. There are several government offices in Belapur, including CIDCO, the Maharashtra Public Service Commission Office, and the CBD Belapur Consumer Court.
Numerous SME offices in Navi Mumbai provide job prospects. Kharghar is another area that is rapidly growing.
There are retail centres, banks, gyms, restaurants, schools and colleges, parks and clubs, multispecialty hospitals, etc. in Vashi and Kharghar.
The social infrastructures like malls, entertainment setups, etc are already developed in Thane, however, in Navi Mumbai the infrastructure is still at the developing stage.
Thane
In Thane, the Green Line metro is under construction which will provide connectivity with several other metro stations like Gaimukh, Andheri, Knajurmarg, etc.
The two airports T1 and T2 are approximately an hour away from Thane. You can also have great connectivity to Eastern Express Highway from Thane.
Navi Mumbai
Navi Mumbai is 1 hrs and 15 minutes drive from both T1 and T2 of the Mumbai International Airport.
Navi Mumbai on the other hand is developing to become the integrated connectivity infrastructure.
Hence, the connectivity in Navi Mumbai is more seamless compared to Thane due to its connectivity to major places.
The Sion-Panvel Highway is currently in use for the people of Navi Mumbai, while the projected Trans Harbour Link Road would improve the connection from Ulwe to South Mumbai.
The real estate condition of Thane and Navi Mumbai are similar due to the presence of so many well-known projects.
Thane
In Thane, the average rate per sq ft ranges between Rs 8000 to Rs 25000
A few popular developers who have developed their masterpieces in Thane are Lodha, Dosti, Piramal, Hiranandani, and Puraniks. The projects which are always in demand like Lodha Amara, Piramal Vaikunth, Dosti West, Puraniks Unicorn, etc.
Navi Mumbai
In Navi Mumbai, there are many developers like Arihant Superstructures, Sai Developers, IndiaBulls, etc who have invested due to the higher demand for residential apartments. In Navi Mumbai apartments range between Rs 12000 to Rs 30000
A few residential projects which are developed by these developers are L&T Seawoods, Marathon Nexzone, Arihant Aspire, Adhiraj Mainland, etc.
Thane
Due to end customers’ increasing choice for an urbanised town with city-like services, Thane’s real estate price growth has been more steady.
According to data, local real estate values have increased by up to 7% during the last four years. Property prices in Thane where the projected Metro line intersects will increase significantly as a result.
Navi Mumbai
In the previous 50 months, property prices in the region have increased by 11%.
Some of the most desirable areas in Navi Mumbai have average property prices between Rs 6,000 and 9,000 per square foot, including Kharghar, Ulwe, Kamothe, Panvel, and Airoli.
FAQs
| Q1: Which place is better to live Thane or Navi Mumbai?
Ans: Thane and Navi Mumbai, both are preferred for different parameters. However, from the perspectives of connectivity and liveliness, Thane is preferred, whereas Navi Mumbai is suitable in terms of infrastructure and living standards. |
| Q2: Which is the best place to live in Navi Mumbai?
Ans: Few of the best places to live in Navi Mumbai are Panvel, Kharghar, Ulwe, Taloja, and Seawoods. |
| Q3: Is it worth investing in an apartment in Navi Mumbai?
Ans: Yes, it is worth investing in Navi Mumbai because it is expected that the property prices will appreciate by 30-40% after the infrastructure projects like the International Airport, the Metro, and the Trans-harbour Link is finished. |
| Q4: Is Thane a good place to invest?
Ans: Yes, the property rates have already increased by 7% and they will further increase after the completion of the metro line intersection. |
| Q5: Will Thane property rates increase?
Ans: Yes, the Thane property rates will increase and it is expected to increase by 8.25%. |
