The rising costs of commercial real estate in Mumbai’s corporate hotspots such as Lower Parel and Bandra Kurla Complex, coupled with increasing traffic snarls and high commute costs (time and money), are compelling business owners to consider viable alternatives in other localities.
Thane – A Growing Commercial Destination
Thane, conveniently located on the fringes of Mumbai, has been rising to the fore as a top destination for commercial office space.
According to a recent report by Property Share, of the nearly 21 million sq. ft. of Grade A office space expected to be added in Mumbai by 2025, Thane will contribute an impressive 3.5 million sq. ft.
Factors contributing to Thane’s growing popularity include:
- Strategic location and excellent connectivity
- Recent economic growth
- Cost-effective commercial real estate
- Diverse commercial projects suitable for businesses across sectors and sizes
A Happier Workforce
A recent study by Kantar TNS states that nearly 50% of professionals seek homes closer to their place of work.
Thane offers:
- Premium yet affordable townships
- Ample green cover and open spaces
- Reputed schools
- Hospitals and healthcare facilities
- Malls and entertainment zones
- A balanced and elevated lifestyle for young families
Thane’s participation in the Smart Cities Mission has also encouraged initiatives focused on sustainability and technology, improving residents’ quality of life.
For businesses, investing in office spaces in Thane provides access to a vibrant pool of potential talent. A conveniently located workplace can improve employee morale and job satisfaction, while long commutes can negatively affect employee wellbeing.
Better Connectivity and Improved Infrastructure
Thane’s extensive road and railway network provides seamless connectivity to major business, residential, and entertainment hubs across Mumbai.
Key infrastructure advantages include:
- Thane railway station as a major transportation hub
- Proposed railway station between Thane and Mulund to improve access to Wagle Estate
- Eastern Express Highway connecting Thane to key Mumbai destinations
- Proposed 12.955 km Eastern Freeway extension to Thane
- Thane-Borivali Twin Tunnel project, expected to significantly reduce travel time
- Proximity to the upcoming Navi Mumbai International Airport
- Expanding Metro network
- Thane-Kalyan Waterway Project
- Eastern Motorway extension from Thane to Kalyan
These infrastructure developments are expected to further strengthen Thane’s position as a desirable destination for commercial office spaces.
A Lucrative Investment Proposition
Rising rental prices indicate that the average 8% returns offered by real estate could potentially increase to 15% or more.
The promising appreciation value makes commercial real estate an attractive investment option.
Additional benefits include government initiatives and incentives aimed at promoting business growth in Thane, including:
- Tax benefits
- Subsidies
- More efficient permit and licensing processes
Together, these factors can help significantly reduce the cost of doing business in Thane.
The rising costs of commercial real estate in Mumbai’s corporate hotspots such as Lower Parel and Bandra Kurla Complex, coupled with increasing traffic snarls and high commute costs (time and money), are compelling business owners to consider viable alternatives in other localities.
Thane – A Growing Commercial Destination
Thane, conveniently located on the fringes of Mumbai, has been rising to the fore as a top destination for commercial office space.
According to a recent report by Property Share, of the nearly 21 million sq. ft. of Grade A office space expected to be added in Mumbai by 2025, Thane will contribute an impressive 3.5 million sq. ft.
Factors contributing to Thane’s growing popularity include:
- Strategic location and excellent connectivity
- Recent economic growth
- Cost-effective commercial real estate
- Diverse commercial projects suitable for businesses across sectors and sizes
A Happier Workforce
A recent study by Kantar TNS states that nearly 50% of professionals seek homes closer to their place of work.
Thane offers:
- Premium yet affordable townships
- Ample green cover and open spaces
- Reputed schools
- Hospitals and healthcare facilities
- Malls and entertainment zones
- A balanced and elevated lifestyle for young families
Thane’s participation in the Smart Cities Mission has also encouraged initiatives focused on sustainability and technology, improving residents’ quality of life.
For businesses, investing in office spaces in Thane provides access to a vibrant pool of potential talent. A conveniently located workplace can improve employee morale and job satisfaction, while long commutes can negatively affect employee wellbeing.
Better Connectivity and Improved Infrastructure
Thane’s extensive road and railway network provides seamless connectivity to major business, residential, and entertainment hubs across Mumbai.
Key infrastructure advantages include:
- Thane railway station as a major transportation hub
- Proposed railway station between Thane and Mulund to improve access to Wagle Estate
- Eastern Express Highway connecting Thane to key Mumbai destinations
- Proposed 12.955 km Eastern Freeway extension to Thane
- Thane-Borivali Twin Tunnel project, expected to significantly reduce travel time
- Proximity to the upcoming Navi Mumbai International Airport
- Expanding Metro network
- Thane-Kalyan Waterway Project
- Eastern Motorway extension from Thane to Kalyan
These infrastructure developments are expected to further strengthen Thane’s position as a desirable destination for commercial office spaces.
A Lucrative Investment Proposition
Rising rental prices indicate that the average 8% returns offered by real estate could potentially increase to 15% or more.
The promising appreciation value makes commercial real estate an attractive investment option.
Additional benefits include government initiatives and incentives aimed at promoting business growth in Thane, including:
- Tax benefits
- Subsidies
- More efficient permit and licensing processes
Together, these factors can help significantly reduce the cost of doing business in Thane.
Source: ITP Media (India) Pvt. Ltd.
Copyright: © 2024 ITP Media (India) Pvt. Ltd. All Rights Reserved.Source: ITP Media (India) Pvt. Ltd.
Copyright: © 2024 ITP Media (India) Pvt. Ltd. All Rights Reserved.
