The impact of COVID-19 Positive on Real Estate – Negative or Positive?

The impact of COVID-19 Positive on Real Estate – Negative or Positive?

Covid-19 came as a humanitarian challenge that changed the way people live, work, and play, maybe forever. It took away people’s lives and source of livelihood. The global economy saw one of the biggest downturns. There was a point in time when people were more scared of the pandemic-led lockdown than the pandemic itself, due to its devastating impact on the economy.

Real-estate, retail, finance, aviation and automobiles are the 5 sectors that are worst hit by COVID-19. Speaking of realty, last year when the nation went into a complete lockdown between March and May 2020, many new constructions stopped, sales took a hit, and new launches were postponed.

The pandemic brought in a domino effect on the realty sector. At first, the lockdown brought the construction activities to halt, then the fear of health & financial crises caused a mass exodus of migrant workers, the demand for social distancing & the sudden realisation of the importance of saving overspending led to negligible homebuyer enquiries and site visits.
Beginning June 2020, just when the realty sector started taking baby steps on the road to recovery through digital business strategies; and seeing a ray of hope through increased demand of virtual site visits, the country was struck by 2nd wave of COVID-19, this time, deadly than previous.

The cities where real estate activities have most suffered are Mumbai, Delhi, and Bengaluru amongst others. For instance, the Mumbai Metropolitan Region (MMR) in Maharashtra has witnessed a drop in property registrations. Experts say the recovery of the realty market in India could now prolong until 2022, and that it will be highly dependent on the way India deals with the second wave of Coronavirus.

THE OVERALL DAMAGE DONE – What reports say?

Going by a KPMG report, the real estate sector has incurred a loss of over Rs 1 lakh Crore since COVID-19 broke out, resulting in a serious liquidity crunch for real estate developers. The credit shortage brought down the residential sales from 4 lakh units in 2019-20 to 2.8 lakh units in 2020-21 across the top seven cities of India.

The overall residential demand declined by over 40 per cent in H1 of FY21, says the India Ratings and Research Private Limited (Ind-Ra) report. The agency believes that the sales will continue to decline until the pandemic is brought under control.

According to a report by Liases Foras, the pandemic-led lockdown cascaded the volume of unsold inventory from 15+ quarters at the end of FY-20, to 19+ quarters towards the end of H1 FY21. The volume of the unsold stock increased by an extreme dip in sales in Q1 and dampened recovery in Q2 2020.

IT WAS NOT WORKING ANYMORE FOR COMMERCIAL AND RETAIL REAL ESTATE

What simply existed as a concept in an organisation’s HR policies, now become a new way of life – Work from Home (WFH). The rise of the WFH concept led to the fall of the need & demand for office spaces.
According to a report by Cushman and Wakefield, the net leasing of office spaces declined from approximately 70 lakh sq. ft. in 2020 to around 35 lakh sq. ft. in Jan-Mar 2021.

In Q4, the immunisation drive by the Government picked up the pace, so did the Coronavirus cases. Thus delaying leasing & impacting leasing rates. The net leasing rates dipped by 33 per cent in 2020, and average commercial property prices declined by 7-10 per cent.

The demand for flexible workspaces such as WeWork & Awfis which had resurged in the last few months has declined since the second COVID-19 wave emerged. If the pandemic is brought under control soon, experts anticipate leasing 38 MN sq. ft. flexible workspaces in the coming year.

Speaking of retail real estate – data compiled by Statista says that retail mobility has declined by 55-60 per cent across India owing to the partial lockdowns and curfews across cities. Another factor contributing to this downfall is that people are no longer keen on visiting retail spaces – they can get everything, from food & clothes to entertainment delivered home, in just a click. Thanks to e-commerce and OTT platforms.

Looking at the other side of the grass, with WFH becoming a norm, residential real estate underwent a dramatic architectural change. Along with the routine bedroom, living room, washroom, kitchen & balcony, providing a dedicated WFH space has become a need of the hour in the upcoming projects.

DID THE LAW OF SUPPLY AND DEMAND AFFECT REALTY PRICES?

There are many points to be considered while discussing realty prices.

  1. While on one hand, during the 1st wave, some developers went all out to woo buyers by offering major discounts. We came across news such as:

    A 559 sq. ft. property of Hiranandani has been closed for Rs 86 lakh this month. A similar unit was transacted at over a Crore in MarchIn January, ready-to-move-in residential units – one in Ashoka Towers in Parel and the other in Omkar 1973 in Worli – were both available for around Rs 8.5 Crore. Then coronavirus struck & the same units were available in May for Rs 7.5 Crore and Rs 6.5 Crore.

    On the other hand, some developers continued to withhold prices due to limited profit margins. Unlike the first wave, the second wave of the pandemic has, so far, not impacted the prices of the residential market.

  2. Meanwhile, the pandemic-induced spike in prices of essential raw materials, like steel bars, cement, plastic, man-made polymers and resins, etc., are pressurising developers to hike the prices of new projects. The supply shortage is only making matters worse. There are chances that once the lockdown is lifted, we may witness minor hikes in property prices by the end of the next quarter, whereas we may see more significant corrections in prices by the end of 2021.

  3. During the 1st wave of the pandemic, people realised the value of owning a home for themselves and lucrative deals added fuel to the fire.In areas such as Maharashtra, where the stamp duty charges were reduced from 5% to 2% until 31 December 2020 and 3% from January 1 to 31 March 2021.

    Furthermore, RBI kept the repo rate unchanged at 4%, making home buying affordable by availing home loans for as low as 6.65% annual interest, which was in contrast with the average home loan interest rate of 8% in January 2020.

    While this is one side of the coin, COIVD-19 related constraints such as stay-at-home & social distancing, and delayed delivery of other support facilities, such as processing papers for applying for home loans, having the agreement for sale or flats registered, or reaching out to sales and marketing personnel to garner more information about the project are either discouraging buyers or coaxing them to postpone their home-buying plans for later. All of which is leading to a dip in sales.

    Although the vaccination drive seems like a silver lining in the dark cloud of COVID-19, the year 2021 is expected to remain challenging for the real estate sector.

THE DOMINO EFFECT

Iron & steel, cement, machinery are amongst the many industries that are dependent on the real estate sector. The pandemic inflicted heavy losses on them all during the year 2020. Approximately 250 SMEs reported losses that were accompanied by increased costs in 2020.

This was the condition during the 1st wave of the pandemic. The developers and manufacturers were more prepared and cautious during the 2nd wave. They made preparations such as installing labour camps, putting a shift-wise duty in place, and ensured adherence to COVID-19 protocols such as regular temperature checks, once-in-a-moth COVID-19 testing of labourers and installing sanitising stations on construction sites.

The government’s move of initiating a vaccination drive for those above 18 years of age will boost the construction activities as it will help the labourers to get vaccinated at the earliest. It will also make labourers feel safe & eventually reduce migration.

THE ROAD AHEAD

Post-phase-4 of lockdown, the realty sector slowly began its operations, and there came 2021, which seemed to be the year of recovery as COVID-19 vaccines were developed. But the happiness was short-lived as the pandemic’s 2nd wave gushed in, putting the developers and financial institutions in cautious mode. The resurgence of the pandemic has compelled financial institutions to avoid risky investments, adding to the woes of the real estate sector already suffering from a liquidity crisis. But it’s not all dark and gloomy for the realty sector like it’s said, “A smooth sea never made a skilled sailor” – Franklin D. Roosevelt. The realisation of the importance of owning a home in the consumers’ mind during COVID-19 can play an important role in increased residential property sales. Once the government accomplishes its goal to vaccinate its over 1.3 billion population and the fear of COVID-19 diminishes, there are high chances for the realty sector to experience market equilibrium. Points supporting this stamen are

  1. People may return to work, thus increasing the demand for commercial spaces;
  2. Increased e-commerce may lead to increased demand for industrial units to store inventory;
  3. Pandemic has turned many employed professionals into entrepreneurs, this may lead to a rise in demand for retail spaces;
  4. Virtual site visits have lured and made it possible for NRIs to invest back home;
  5. Low-interest rates (home loan interest rates are at below 7% now) and high tax exemption (rebate against home loan interest payment is as high as Rs 3.50 lakhs per annum) can make the option of owning a home attractive over renting;
  6. Many people, especially professionals who have permanently decided to return to their hometowns, who were earlier living on rent in Tier-1 metro cities like Mumbai, Bengaluru, Delhi etc. will look to buy homes, and finding employment in their hometown. Thus, increasing the demand for commercial, residential and retail spaces in Tier-2 cities.
Having mentioned that, here we are seeing the glass half full, but if we look at the half-empty glass, the pandemic has led to job losses and pay cuts, and the entire population is yet to be vaccinated. So we will be able to see a clear picture once the pandemic is tamed and the infection rate declines. Till then, it’s all about the wait-and-watch approach.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

Why is real estate a better long-term investment option?

Real estate is the most preferred investment option across the world. As per a Gallup poll in 2016, real estate investment was rated as the best among long-term investments – much ahead of bonds, stocks, saving accounts, mutual funds, and gold.

In India, the emotional joy of owning a property is inherently much stronger than ever. The cherry on the cake: The recovery phase of the real estate market of India may have begun already since hitting rock bottom in the previous few quarters.

Did you know?
In India, real estate is the second biggest employer after agriculture and is expected to grow by nearly 30% in the coming decade. Hence, no matter what the temporary impediments, it remains the safest investment option to date, and is set to grow much shortly.

Why is real estate a better long-term investment option?

It does not need much expertise

Investing in real estate is not rocket science. Even first-time investors can get it right with the help of some online research or real estate consultants/agents.

In comparison, investing in stock markets or mutual funds demand constant time & attention, in-depth knowledge of the market, the business & the financial world.

Generate rental income

By investing in real estate, one is almost 100% guaranteed a regular stream of rental income. In comparison to stocks, you are not subject to the mercy of volatile market forces that can dilute your net worth overnight. By owning a home, you are assured of regular and stable monthly income, which will increase with time while your home’s capital value also appreciates.

Good appreciation over the long term

You must have come across these sayings: “Ninety per cent of all millionaires become so through owning real estate” – Andrew Carnegie. “Landlords grow rich in their sleep” – John Stuart Mill.

Real estate is a long-term investment, it’s a place to park cash in an appreciating asset that has the potential to provide passive income.
Over the last two centuries, about 90 per cent of the world’s millionaires have been created by investing in real estate. For the average investor, real estate offers the best way to develop significant wealth.
In addition, it’s a fact that the human population is booming while the supply of habitable land is fixed. Hence, it is highly likely that the demand for real estate will only rise in the future, and eventually, the returns from real estate will only increase in the long-term future.

Comparison to stock investments

In comparison to real estate, investments in stocks are a cocktail of uncertainty. It is a risky game to trade in derivatives and stocks. Since investing in the stock market is a highly specialised field, it needs superlative skills to make money out of equities and exploit trade cycles. Also, misleading market trends often result in investors making impulsive decisions to sell and buy.

Comparison to mutual funds

By principle, investment in mutual funds results in minimising risk by investing in several different portfolios. However, the investment is subject to many risks because of market volatility. In comparison, investing in real estate is not a very risky option as it promises many long-term returns – because demand outstrips supply.

Going by the facts stated above, it’s a wise decision to invest in real estate over stock market or mutual funds. So if investment running all over your mind, real estate is the right option and, now is the time to begin. History says – real estate can be more rewarding for those who start at a young age.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

How to choose your dream apartment

FIND THE HOUSE OF YOUR DREAMS

How to know if a house is right for you?

You’ve long been dreaming to own a house, saving up to turn it into a reality. But finding a dream property in the city of dreams is no easy task. There are many points to consider: location, amenities, safety, value for money, appreciation rate, size & layout of the apartment, and the list goes on… If luck permits, you’ll get them all, but if not, you might have to compromise on a few factors, but which factors are worth compromising? Aargh! This might get annoying.

Once you’ve found a close match, how to be sure that this is the one? Well, fear not, we are here. Here are some valuable tips and ideas on how to choose the property that best fits your needs.

Define your budget

Before your house-hunting spree, determine your budget. To estimate your budget, you need to know: 1) your earnings 2) savings/collateral.

Map Your Location

Location is by far the most critical considerations you can make before signing your purchase papers. If you have children, you should ideally select a property that is located nearby an educational institute. Additionally, your future home should be well connected to roads and public transport, it should be closer to hospitals & shopping malls, etc., and be safe. Last but not least, the residential complex should have all the necessary amenities and facilities.

Choose the Proper Layout

What type of building do you prefer? One where you can walk up to your home, or a high-rise elevator building? Do you own a vehicle to park?

Determine an apartment size that’ll work for you, a 3, 2 or 1 BHK? If you dream of spending your mornings on a balcony, check if the building offers one. Are you looking for an apartment with a master bedroom, a separate dining area; or for that matter, with the work from home culture slowly becoming a norm post-COVID, does the apartment offer a separate workspace?

Own a pet and want to bring them, add that to your must-haves.

Evaluate the space

While house hunting, carry a notebook. Jot down the pros and cons of the flat and evaluate the reasons behind this. If the walls need some fresh paint or servicing, note down the areas requiring proper scrutiny. Are there any visible damages? If yes, take pictures of them. Also, check for essentials such as a gas pipeline, water & electricity supply etc.+

Take Care of Amenities

Along with the essentials, you should check for the amenities provided by the developer. If you are a fitness freak, a well-equipped gym in the vicinity might be of interest. Kids might be keen on a clubhouse or a garden for their recreational purposes. Also, with elders in the house, you might want to consider having worship places inside/nearby the society.

A home needs maintenance too. So, check how accessible are the plumbers and electricians etc.

Moreover, it’s important to check if these amenities come for free, or you’ll have to shell an additional amount for it.

Run a background check on the builder

Check the credibility of the builder based on parameters such as record and performance, quality accreditation and certification, recognition in real estate, etc.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

Kitchen trends in your apartment

What’s cooking?

Chic and contemporary decor ideas to turn your kitchen into a drool-worthy one.

It is not easy to find the right dwelling space in the city of dreams – Mumbai. It requires an investment of time, energy and money. Once you find the right fit, the next challenge is to convert the house into your cocoon, your home sweet home. What better way to do so than through a décor?

The kitchen is the heart of the home, it is a place that fuels our bodies, minds & souls, brings people together,  traditions are made, cemented and passed on in our lives, and A place where memories are homemade and seasoned with love. For a place as important as this, decorating it should be of utmost importance.

Here are some stunning kitchen décor ideas you’ll be tempted to try:

Metallic colours and accents

Let your kitchen embrace the beauty of metallic hues and textures. Add geometric décor in modern metallic finishes and simplified oversized shapes to your kitchen cabinets and shelves. You can also add some accessories on the periphery of the cabinets – go for some gold and silver metallic combinations for a uber-chic kitchen.

Statement-Making Taps

Ask your interior designer to arm your kitchen with some smart taps. Opt for slender, metallic finish smart taps, not only will they add some real oomph to your kitchen, but also help you save on water bills. These attention-grabbing smart taps automatically sense the motion of hands and stop the water flow once you put your hands or other objects away from it. Indeed a must-have!

Intelligent Gadgets

Why just smart taps when you can turn your entire kitchen into a smart kitchen? An empowering tool, smart devices such as Amazon’s Alexa voice assistant. From maintaining a grocery list to keeping multiple timers, making coffee, controlling smart cookers & large appliances such as ovens and refrigerators and listening to music or the news while cooking. Alexa is your genie and your wish is her command.

You can also accessorise your kitchen with motion sensor-enabled lights. So that when you are in a kitchen, nothing except the recipe for a gastronomic meal runs in your mind. More so, they help you save both: money and energy.

Optimum Storage

Make the maximum utilisation of your storage space in the kitchen – go for open shelves with eye-catchy textured background wallpapers, you can fold them after your meal is ready!

Some More Space

You can make your kitchen look spacious with the help of larders. The larders are the single cupboards that symbolise a food wardrobe. You can store all your tableware and groceries in them.

Black and White

Accessorise your kitchen walls with black and white textures, they are bold & versatile and will impart a seductive allure to your kitchen that says sleekness and sophistication at the same time. If you choose a matte black wall texture and tone, complement it with glossy surfaces, to create a kitchen that’s difficult to take your eyes off.

Get Ready to Brighten Up

To add a visual depth to your kitchen and create a welcoming ambience, embellish your kitchen with unique kitchen pendant lights.

Minimalism

For a kitchen to run smoothly, you can’t suffer through chock-full cabinets or overflowing drawers. For a clean kitchen that will effortlessly allow you to get what you need without having to dig, reach, or unstack, you will need to practise minimalism. This means you will have to declutter your kitchen very inexpensively with only a little time and thoughtful consideration.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

Tips for first time home buyers

Turn your dream home into a reality

There are many aspects involved in home-buying which may seem challenging for first-timers. Usually, first-time homebuyers are extra cautious to avoid committing mistakes during the home-buying process & are very keen on getting the best deal.

To decode the home-buying process & ensure a successful first-time home shopping experience – we have put together a checklist. This checklist will help them understand what to expect as they make their way from house-hunt to moving day. 

Tips to keep in mind for first time home buyers

Must-haves

As first time home buyers, you should make sure that your new home offers you all of the below-mentioned essential amenities.

  1. 24×7 water supply
  2. 24×7 power supply
  3. Lifts
  4. Security services
  5. Recreational facilities
  6. Waste disposal
  7. Good drainage system
  8. Fire safety & security systems at the disposal
  9. Parking areas & garage

Locations

As first time home buyers, you should make sure that your new home offers you all of the below-mentioned essential amenities.

  • Look for essential services such as educational institutions, recreational facilities, place of worship, medical facilities, and shopping malls, etc. nearby
  • Find out ways to commute with or without your vehicle. Ensure that your building complex offers good connectivity to highways, railways & roadways
  • Find out the cultural orientation of your building complex, see if it matches yours
  • Do you like peaceful, quiet and serene surroundings or love the hustle-bustle of city life? Check if the location matches your preferences: lakes & hills or highways & skyscrapers?

Developers’ background study

If you don’t want to risk your time, money & efforts by purchasing a home built by an inexperienced developer or one with a bad reputation & track record, you should crosscheck the below-mentioned points:

  • The builder/developer has earned the goodwill and trust of customers
  • Promises on delivery, quality, amenities, etc. are kept
  • Offers made are credible
  • The project is fully funded or backed by a reputed financier
  • Has the builder ever defaulted on loan commitments?
  • Are they entangled in any legal case?

Return on Investment (ROI)

Any type of financial step requires to be made with keeping the investment return value in mind. Whether you are intending to rent out or living in your home, it’s important to pre-determine the ROI it offers.

Acquiring a property is a lasting endeavour, so choose your home wisely. Choose an area that offers tremendous growth in terms of infrastructure and blooming residential societies. Also, check into the scalability element of your residential property.

Type of property

Factors such as family size and the age of children should be some initial factors to consider while choosing a home. While teenagers and adults usually prefer separate rooms, joint families prefer bigger 3-4 BHK apartments. If you plan to expand your family, it’s advisable to opt for a bigger home right away. Also if you have frequent guests staying over, you might want to buy a home that offers a guest room.

Do you want to move-in immediately? Ready-to-move-in apartments are the right choice. If you are looking to buy a home for investment purposes or are in no hurry to move-in soon than under-construction properties can be a good choice.

Some other factors can influence your first-home buying decision. Some being choosing between a fully or semi-furnished flat, a high-rise apartment with modern amenities or old construction, a used or unused property etc.

Work on Financial plan

  • Find out how much money you are left with each month after taxes using an online income calculator
  • Make a list of all monthly household expenses
  • Look out for areas that you can cut back so that you can put as much money as possible into savings and paying off outstanding debts
  • Pay off any outstanding debts, will improve your credit score, an important determinant factor when purchasing a home
  • You may or may not get a full loan, also many builders demand a 20% deposit (down payment), so it’s wise to save for a deposit/down payment in advance. This will also help in reducing the total loan amount
  • You should ideally buy a house that is around 2.5 times your annual salary if you don’t take a realistic decision while buying your first-home the loan amount will eventually catch up with you
  • It is advised to get pre-approved from a lender before you start house hunting
  • Get your prospective home inspected to find any potential problems you may need to deal with in the future
  • Check similar homes in the area to make sure you are paying a fair price in the local market
  • Consider extra costs such as stamp responsibility, registration expenses, VAT, broker agent compensation, loan processing cost, etc.

Legal documentation

Property investments are highly capital intensive, and any mistakes made during the process can cause a great deal of trouble to the buyer. Here is a list of crucial documents that must be verified while purchasing a property:
  • Fire NOC
  • RERA Certificate
  • Commencement Certificate
  • Occupancy Certificate (OC)
  • Copy of Building Plan
  • Bank NOC, if for mortgage
  • Allotment Letter
  • Sale Agreement
  • Possession Letter
  • Payment Receipts
  • Property Tax Receipts
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

6 reasons that make Thane a Realty Hotspot

6 reasons that make Thane a Realty Hotspot

If you are looking forward to investing in residential or commercial real estate, then Thane is the place, here’s why:

EASY CONNECTIVITY

Road:

Thane is well connected to Navi Mumbai as well as to the Eastern and Western Suburbs of Mumbai via Ghodbunder Road, Jogeshwari – Vikhroli Link Road (JVLR), Santa Cruz–Chembur Link Road (SCLR), Eastern Freeway, NH 8, Mumbai-Nashik Highway and the Thane-Belapur Road.

Construction of the Thane-Diva Road, Bhiwandi bypass flyover, and parallel roads from Thane to Kalyan along the metro line are on the cards.

Rail:

The Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways connect Thane to Mumbai’s railway network.

Metro:

A proposed metro rail is said to run along the Ghodbunder Road with more than 10 halts within Thane itself. With the metro, the travel time between Thane and Wadala is expected to reduce by half. Additionally, the Metro-3 project will run between Thane to Kalyan and Mira – Bhayander.

AFFORDABILITY

Thane’s real estate market is serving homebuyers with various residential and commercial properties that offer luxurious living at affordable prices. One can buy a home from anywhere between 40 Lakhs to 15 Crores.

If you are looking for apartments with world-class amenities within your planned budget, your search ends in Thane. Ashar Group offers many ready-to-move-in & under-construction properties in different locations of Thane. Not only do these residnetial projetcs in Thane offer exclusive amenities such as a rooftop lounge 300ft above ground, exclusive podium for luxury indulgences and impeccable views of Yeoor Hills & Upvan Lake, but are also available at affordable prices and are among one of the most sought after upcoming new projects in Thane.

CAPITAL APPRECIATION

The advantage of buying a property in Thane is that you get them lower rates and within a short period, you can see the value of your property appreciating quickly.

If you’re looking at buying property as an investment, expect higher returns in a shorter period.

To give you an example: Apartments at Ghodbunder Road are moving upwards at a 33% rate, 13% higher than the average price in Thane west*.

A BOOMING COMMERCIAL HUB

Thane hosts many IT Parks & Business Zones thus creating an enhanced job market, and offering walk to work options for the working populace.

Thane-Ghodbunder Road area is a coveted residential cum commercial hub, also, many IT and ITeS hubs are under construction near Kolshet Road.

Some of the top business parks in Thane are:

  • Ashar Bellezza
  • Ashar Millennia
  • Ashar IT Park
  • Hiranandani Business Park
  • Raheja Mindspacencial

Thane hosts reputed companies such as:

  • Tata Consultancy Services (TCS)
  • Syntel
  • Bayer India
  • Navnit Motors
  • Aditya Birla Financial

ADD EASE TO YOUR LIVING

Thane offers ample social infrastructure for people belonging to all age groups. Everything, from malls, theatre, hospitals, restaurants, pubs & bars, educational institutes is at your disposal in Thane.

Some hospitals in Thane are:

  • Shree Mahavir Jain Hospital & Shri Pratap J. Ashar Cardiac Centre
  • Hiranandani Hospital
  • Jupiter Hospital

Some educational institutions present in Thane are:

  • Billabong High International School
  • SMT Sulochanadevi Singhania School
  • Bedekar Institute of Management
  • Shah Institute of Technology

Thane has some of the biggest malls in the city:

  • Cosmos Mall
  • Viviana Mall
  • Korum Mall

Places for nightlife in Thane:

  • British Brewing Company
  • The Irish House
  • Rude Lounge
  • The Beer Café

Best Restaurants in Thane Region:

  • Barbeque Nation
  • SodaBottleOpenerWala
  • Mainland China
  • The Caravan Menu

WHERE WORK MEETS LIFE & LIFE MEETS NATURE

Known as the city of lakes in Maharashtra, Thane houses a total of thirty lakes in the district and is bound by Yeoor and Parsik hills. Projects such as Ashar Metro Towers & Ashar Aria are surrounded by nature and offer mesmerising views of Parsic Hills, Ulhas River, and Yeoor Hills & Upvan Lake.

Naming some of the many attractions of Thane:

  • Kelva Beach
  • Sudhagad Fort
  • Naneghat Hills
  • Ambreshwar Shiva Temple
  • Masunda Talao
  • Tansa Wildlife Sanctuary
  • Jai Vilas Palace
  • Mahuli Fort
  • Elvis Butterfly Garden
  • Tansa Dam
  • Thane Creek
  • Suraj Water Park
  • Ovalekar Wadi Butterfly Garden
  • Thane Creek Flamingo Sanctuary

So, all in all, well planned residential developments, greater connectivity, higher job creation, growing social amenities, budget-friendly prices, and plentiful open spaces in the surrounding areas make Thane a Realty Hot Spot.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

Think Home, Think Thane.

Money doesn’t grow on trees but buildings. While this might sound funny, ask those who have invested their money in real estate, especially in the Thane real estate market. When it comes to investing in residential projects in Thane, we’d suggest – “Strike while the iron is hot,” and it’s red hot at present.

Here’s why:

USP

Thane will be the fastest developing location in MMR in the future. In the list of India’s most promising cities compiled by FIRST Sm@rt Cities Council and Indicus Analytics, Thane was amongst the top 5 as it offers its residents everything – from an ideal location to great connectivity, robust & future-ready infrastructure to a pleasant environment, immense job opportunities to the easy availability of educational, medical, entertainment avenues & excursion spots.

CONNECTIVITY

Speaking of connectivity, Thane is connected to Navi Mumbai as well as to the Eastern and Western Suburbs of Mumbai via Ghodbunder Road, JVLR, SCLR, Eastern Freeway, NH 8, Mumbai-Nashik Highway and the Thane-Belapur Road. Besides, the Central Harbour Rail Line, Thane-Panvel Rail Line and Central Railways connect Thane to Mumbai’s railway network.

Future connectivity plans include the proposed Metro rail that would run along the Ghodbunder Road with more than 10 halts within Thane itself. With the Metro coming in, the travel time between Thane and Wadala is expected to reduce by half. Thane-Diva Road, the flyover at Bhiwandi bypass, Metro-3 project to Kalyan and Mira-Bhayander areas, and parallel roads from Thane to Kalyan along the metro line are other infrastructural developments that are on the cards.

REALTY MARKET

Today, Thane fulfils expectations of homebuyers belonging to various economic backgrounds with its wide-ranging options of the housing properties. If one is looking to invest in real estate, thane promises secure returns. Thane’s real estate portfolio advanced from ground + seven-floor buildings to multi-storey towers and townships offering luxurious facilities and amenities that were once exclusive to South Mumbai’s realty market.

Thane is divided into west & east. Ashar Group, Lodha Group, Godrej Properties, Tata Housing & Hiranandani Constructions are some of the renowned developers in Thane.

Source: Housing and Makaan
MAKE THE RIGHT CHOICE

Of the many, Ashar Group one of the most preferred real estate brands in the residential and commercial segment. To date, it has successfully delivered over 4 million sq. ft. of real estate spaces across various verticals, including residential, commercial, educational, IT parks and infrastructure developments.

Residential Projects in Thane

Ashar Edge

Ashar Edge is the first-ever property in Thane to provide voice-controlled smart homes & temperature control with full HVAC automation. Apartments here are a perfect combination of contemporary architecture and features to provide a comfortable living. The project is spread over a total area of 2.69 acres of land, 2 towers & 33 floors.

  • Status: 60% construction completed. Possession: April 2023
  • Location: Pokhran Road No. 2, Thane West
  • Configuration: 1 & 2 BHK
  • Amenities: Amphitheatre Seating, Banquet Hall opening to the lawn, Swimming Pool, Outdoor Gym & Play Area, Skating Rink, Astro-Turf Net Cricket, Stargazing Deck, Home Automation, Voice Controlled Smart Homes, Light Features In The Landscape Garden, Reflexology Path & Guest Room.
  • Starting Price Rs. 88 Lacs
Ashar Metro Towers - Ashar Group

Ashar Metro Towers

For individuals who have longed for owning an all-around structured home in the very heart of Thane – Ashar Metro Towers is the place to live. 5 minutes walking distance from Singhania School, and 10 minutes away from Jupiter Hospital, Viviana Mall, TCS and Eastern Express Highway, if not here, then where? An uptown neighbourhood surrounded by nature, rich, contemporary, and extensive apartments that open out to the city’s excellent perspectives, Ashar Metro Towers are a great investment destination.

  • Status: 60% construction completed. Possession: June 2024
  • Location: Vartak Nagar, Thane West
  • Configuration: 1 & 2 BHK
  • Amenities: Amphitheatre, Swimming Pool, Banquet Hall opening to the lawn, Open-Air Gym, Skating Rink, Turf Cricket Pitch, Sun Deck Area, Barbeque Area, Yoga & Meditation Deck, Lawn With Flower Garden, Lawn With Reflexology Path & Library Lounge
  • Starting Price Rs. 79 Lacs
Ashar Aria at Kalwa Thane

Ashar Aria

Ashar Aria is an example of design-oriented architecture – every elevation, bend, shape, innovation, and square foot comes together in perfect harmony. Additionally, this thoughtfully planned project is close to all the key landmark areas of the city. The very best in education, health and recreational facilities are just at calling distance. Hence, with its prime location & striking architecture, you just don’t buy an apartment, but an address that leaves a lasting impression.

  • Status: 60% construction completed. Possession: August 2023
  • Location: Kalwa, Thane West
  • Configuration: 1 & 2 BHK
  • Amenities: Swimming Pool, Skating Rink, Turf Cricket Pitch, 2 Guest Rooms, Sky Lounge With Stargazing Deck, Serenity Zone, Open Party Area With BBQ & Indoor Leisure Centre
  • Starting Price Rs. 75 Lacs

Thane is certainly set to witness such developments for giving a world-class living experience for the residents. And, if it’s Thane, it’s Ashar Group which offers its residents’ not just spaces to live but to Live, Love & Laugh.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Ashar Group does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.