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THANE – an Emerging Megapolis | February 2018 1 Thane: an Overview

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THANE – an Emerging Megapolis | February 2018 1 Thane: an Overview In association with THANE An Emerging Megapolis February 2018 Ajay Ashar Sachin Mirani President Hon. Secretary MCHI Management MCHI Management Thane has become a promising city. It has The several cultural inclinations are been rightly observed how the city has spectacularly highlighting the vibrant culture developed an all-around connectivity within. in Thane. With its associations in organizing The RTO office to the court, the passport office the Mega Dandiya Raas, MCHI has added to other bureaucratic centres - everything is credibility in the name of the city of Thane. This incorporated in this city of Thane. The availability White Paper demonstrates of what the beautiful of these administrative offices with close proximity, city of Thane is being turned into. promises comfortable and stress-free procedures The city comprises a large number of educational of every significant credentials. institutes with a promise of close proximal The building infrastructural projects in Thane are distance. The high number of vibrant cultural making the city that does not compromise on hubs to expansive green cover of Yeoor hills, an ease. The Metro project, Kopri railway station, affordable price point adds to a futuristic infra widening of Pokhran road 1 and 2, and the developed culturally aesthetic city. Mumbai-Nagpur Expressway are a few to be named. Thane is becoming a synonym with an upcoming major metropolitan with well framed wide roads, brightly lit up evenings, close proximity and quick accessibility to every important centre. I would like to thank Prashant for endorsing our viewpoints with the data that he has compiled through his research. Jitendra Mehta Manthan Mehta Vice-President President - Youth Wing MCHI Management MCHI Management The city of Thane is becoming a commercial I have seen Thane, the City of Lakes, evolve hub. Thane’s list of amenities and from a cousin of Mumbai to a city that has approaching limits to the commercial developed a well profound name of its own. hubs is making Thane an emerging name in the The cosmopolitan crowd develops any city to development of office-spaces. This is making become an emotion. Thane, I very well appraise it Thane, the City of Lakes, to emerge into a City of as the City of Youth. The dynamicity and vibrant Approach. Some big MNCs like TCS has recently variety in the crowd in Thane, has established built its prime workplace in the heart of Thane. the brand it carries today. The growth has been remarkable and noteworthy. Thane already being a big host to a large number of offices at MIDC is not less known. With the The youthfulness and the energetic vibe that several well-known corporation names attaching Thane brings on its own is due to the crowd that and associating themselves with the name of the is not only growing in multitudes, but is accepting city, is making Thane quickly move to a dignified the multicultural setting which is making the city work culture. I acknowledge the hard-work by nurture in enthusiasm and zeal in the surrounding. Prashant and his team in presenting this White ANAROCK’s research team, has successfully Paper which portrays Thane city’s ‘walk to work’ compiled a comprehensive data from a wide range culture. of resources for this White Paper. It is a one-stop information repository not only for the buyers, but also for the developers, which is helping them to connect with each other on the same grounds. A NOTE FROM THE CHAIRMAN longer considered just as a distant cousin of Mumbai. Thane’s real estate market has a very wholesome mix of office complexes, residential developments, retail malls, hospitals and educational facilities. Simultaneously well-connected to Mumbai’s main workplace hubs, the city also has many other amenities that make living there not only bearable but even invigorating. Thane features in the Government’s ambitious Smart City mission, and is consequently Anuj Puri, Chairman gearing up for the next level of growth and evolution ANAROCK Property Consultants into a highly attractive residential destination in the Mumbai Metropolitan Region. India’s next level of growth depends heavily on Reputed real estate developers, global corporates and decongesting existing metros, which tend to eventually many other businesses drive Thane’s growth, and it is begin falling apart due to the mounting pressure on eminently clear that the city enjoys the confidence of their support infrastructure. With rising population both national and multi-national companies who are and rapid urbanization, Indian metros are finding invested in its growth. it difficult to offer their citizens a reasonably good ANAROCK Property Consultants’ white paper ‘Thane - quality of life. Road congestion, crowded core areas An Emerging Megapolis’ takes a data-driven deep-dive and deteriorating work-life balance has become the into this city’s evolution story, current development bane of modern city life. status and the various Government initiatives that The development of new satellite cities and towns will significantly revamp it in the coming years. The can and does considerably reduce the pressure on the report maps the real estate developments, physical metros and developed cities. Creating self-sustaining infrastructure growth and social infrastructure cities is the key to reducing the burden of gruelling availability that make Thane one of the most resilient daily commutes to and from work that are otherwise markets in the MMR. It highlights the plethora of inescapable fact of life for residents of a city like opportunities that Thane provides, and serves as Mumbai. a guide to businesses as well as home buyers who Thane, known as the city of lakes, has rapidly recognize Thane’s unique value proposition. emerged as a vibrant self-sufficient city and is no You can look forward to an insightful read! CONTENTS Thane: Physical Social An Overview Infrastructure Infrastructure Development Snapshot 02 10 12 Major Initiatives Office Market Residential Market to Transform the Overview Overview City’s Landscape 16 26 30 2017 Residential Key Residential Outlook Real Estate Recap Destinations: Top Hotspots 34 38 52 THANE – An Emerging Megapolis | February 2018 1 THANE: AN OVERVIEW 2 THANE – An Emerging Megapolis | February 2018 Introduction Thane, known as the city of lakes, is the district headquarter and one of the prominent city in the Mumbai Metropolitan Region (MMR). The city possesses an impressive background of enriched cultural heritage with chronicles of historical importance, dating long back to about 2,000 years. The city is strategically located at the head of Thane creek and surrounded by Parsik hills and Yeour hills. Flanked by Sanjay Gandhi National Park on one side, the city also boasts a presence of around 35 lakes encapsulating a total area of about 40 hectares. With a massive population of around 1.84 mn1, Thane is spread over 128 sq.km. and is the 16th most populous city in India. During the last few years, Thane has grown rapidly and emerged as a key hotspot for residential and commercial developments. There is a gradual shift in city’s fabric as well - once an industrial hub has now become the city of high rise buildings - thanks to its strategic location, easy accessibility, excellent infrastructure, relatively lower real estate prices and continuous initiatives to upgrade the lifestyle of its residents. The city is gradually emerging as a self- sustaining key megapolis of Mumbai. 1 Census 2011 THANE – An Emerging Megapolis | February 2018 3 EVOLUTION TIMELINE 200 BC to 1800 Pre-British Era 200 BC to 1300 AD - Rule of Satavahanas,Shilahara and Bimb dynasties 1300 AD to 1774 AD - Mohammedan, Portuguese and Maratha rule 1774 AD - The British conquered Thane city 1800 to 1950 British Era 1803 AD - First district court was established 1853 AD - First rail train, from Bori Bunder (now CST) to Thane 1863 AD - Thane Municipal Council formed 1881 AD - Pokhran lake built 1881 AD - The first census took place, population: 14,456 4 THANE – An Emerging Megapolis | February 2018 1950 to 2000 Post-Independence - Industrialisation Era 1962 - Establishment of MIDC:the first industrial estate 1962-65 - Setting up of Raymond, Modella, Voltas, Kores, Colourchem, Roche, Nocil, PIL and other companies 1982 - Establishment of Thane Municipal Corporation 2000 - Received 'Clean City Award' 2000 to 2017 Post 2000 - Era of Real Estate influx 2004 - Trans-harbour rail line connecting Vashi opened for public 2008 - Work on several flyovers commenced 2009 - Panvel & Nerul connected to Thane through rail route 2007 - 2017 - Massive infusion of residential supply - more than 90,000 units 2016 - Included into the Smart city mission 2017 - TCS opens Olympus Centre - largest in MMR THANE – An Emerging Megapolis | February 2018 5 CITY QUICK FACTS 6 THANE – An Emerging Megapolis | February 2018 Administration - ULB Area Thane Municipal 128.23 sq. km Corporation No. of Lakes Prabhag Samities (Wards) Average Literacy 35 spread across 9 89.4% 40 Hectares Population Density Decadal Population Growth 1.84 million 14,360 51.25% (Census 2011) persons / sq. km. (2001-2011) Slum Population Green Cover 0.98 million (Census 32.11 sq.km. (appx. 2011) 25%) THANE – An Emerging Megapolis | February 2018 7 Population Growth Decadal Population Growth (in mn) Between 1971 and 2011, 1971 0.26 Thane’s population increased 1981 0.48 about 7 times. 1991 0.80 The city’s population is expected to be around 2.8 mn by 2021, 2001 1.36 3.5 mn by 2031 and 4 mn by 2011 1.82 20412. 2021* 2.85 The city’s share of overall
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