|Dr. Niranjan Hiranandani|
The story of Thane’s real estate as also real estate development across the Mumbai Metropolitan Region (MMR) is a success story co-scripted with infrastructure projects which enhance linkage – and their timely completion. The state government has taken up several big-ticket, vital transport and civic infrastructure projects, keeping in mind the need for better and improved infrastructure in Thane considering its growth in the future. “This is a welcome step, and augurs well for making thane’s development and growth story ‘future perfect’, said Dr. Niranjan Hiranandani, MD, Hiranandani Group and President, NAREDCO (National).
Infrastructure projects in Thane have received a big push from the state government, with speedier completion of the Coastal road, the Mulund Ghodbunder foothills road the Thane city ring metro as also the tunnel linking Thane with Borivali via the National Park. This will enhance the complete makeover of Thane city, and this will be conducive to growth of commercial real estate as also warehousing and logistics, which in turn, will attract growth in residential real estate.
The past few years have seen Thane develope into an emerging global city, and as infrastructure growth scripts the success story of Thane, micro-markets in locations like Ghodbunder Road are evolving into ‘walk to work and walk back home’ hubs. Going beyond this, it has also become a hub for jobs - the TCS Olympus Centre’s first phase in Hiranandani Estate has ramped up the existing work space, while the second phase in the near future promises further addition to Thane’s work spaces. To deal with this large numbers of Human Resources which will travel to Thane from across the MMR, enhanced transport linkages are a must.
Elucidating on this aspect, Dr. Niranjan Hiranandani enumerated projects such as flyovers and road linkage projects as being necessary for real estate development in Thane and the MMR. To these, he added the aspect of Metro connectivity, which he said, had the potential to be the largest paradigm change in terms of transport linkages and connectivity within Thane as also to successfully handle increased commuter traffic to Thane from across the MMR.
“In the context of real estate development in Thane, development of Metro lines is necessary to deal with enhanced number of commuters as also support the growth of Thane’s real estate,” he said, adding that the Metro 4 will link Wadala through Ghatkopar with Thane, Metro 5 will link Thane with Bhiwandi and Kalyan, while Metro 11 will connect Taloja in Navi Mumbai to Kalyan and through to Thane. “These three Metro Lines will not just enhance connectivity, but also enable better access to Thane as a job hub as also create affordable housing hubs,” he said.
The township at Hiranandani Estate on Ghodbunder Road, Thane offers multiple mix of real estate products for discerning home buyers as also aspirational home buyers. The homes on offer include ready to move in homes for the home buyer as also dream homes for the new age home buyers. Home seekers prefer the Hiranandani Estate township as it offers some of he best civic infrastructure including Sewage Treatment Plant, Rainwater Harvesting, water recycling plant – all these set amidst a green ecosystem and connected with wide, paved roads. The unparalleled infra set-up offers not just a good quality of life, the social amenities and world class features offer global standards of living.
“The relocation and consolidation of corporate offices and work spaces spread over different locations in Mumbai city and suburbs to Thane’s Ghodbunder Road reflect the increasing attractiveness of Thane’s commercial real estate. To successfully handle the increase in commuter traffic in the future, enhanced connectivity through these Metro rail corridors will make Thane ideal for corporates to follow the TCS lead, to relocate and grow in Thane. While Real Estate growth in Thane will be a result of time-bound Infrastructure development, the Metro linkage will play an important role,” he concluded.
Dr. Niranjan Hiranandani - Co-founder & MD - Hiranandani Group and National President - NAREDCO