THE CHANGING SKYLINE OF THANE

From a real estate perspective, there are changes in Thane’s skyline which are apparent: it is now bigger, better and beautiful. Where will Thane’s real estate reach, as 2016 moves into high gear?

From stand-alone, plain vanilla structures to lifestyle-plus homes in exclusive complexes that offer amenities on par with international trends – Thane has evolved in the last couple of decades. Across the Mumbai Metropolitan Region (MMR), it is among the fastest growing urban conglomerations, if not the one clocking the fastest growth. As towering structure soar into the sky, Thane’s homes offer decks where residents can commune with nature: when it comes to leveraging the positives of nature and environment, Thane’s developers have been ‘on target, every time’.

As projects continue to draw residents from across Mumbai and the suburbs, Thane’s real estate needs to chart out its future. True, it has grown from a multi-dimensional residential location which had the promise of becoming a self-sufficient city. It has been true to its potential, and then some more, and going into the future, will we see it fulfilling the potential of becoming a truly Global City?

There is one aspect of being ‘blessed by nature’ in form of an ideal environment - consider the Ulhas River and the Yeoor Hills and the awesome views they offer – and then, look at the sort of real estate product which is required to match these.

Being in close proximity to nature requires ushering in a new level of residential realty, one which can provide all this, and then, ‘convenient living’ for residents. In that sense, when we look at Thane’s skyline and consider the projects and what they offer, one might say the city has more than fulfilled the potential it showed in the late 1990s. The question is, what potential does Thane have for the 2020s and 2030s?

As a Global City in the making, Thane has one advantage: the existing Mumbai airport and the new (Navi Mumbai) airport which is coming up are both situated in neighbouring cities, so the negatives will not accrue to the city – but, thanks to excellent connectivity, the advantages will. It does make for an accurate assumption that Thane’s future will probably be written on linkages that enhance connectivity and in effect, bring in ‘speed’ to linkages with neighbouring cities. Flyovers which will provide expressways with quicker access, Metro and Mono Rail linkages which will supplement the existing suburban railway network to make Thane well networked – all things better will happen once these speedier linkages become a reality.

So, what sort of homes will be required, for the home seekers who will come on the ‘fast track’? For one, it will not be ‘affordable living’ alone. From a time when real estate in Thane was seen, from a developer’s perspective as having ‘triple potential’ – affordability, accessibility and ambience – now it seems all set to morph to luxury, life-style and leisure.

The new wave of residential real estate in thane spells ‘luxury’ with a capital ‘L’, and projects that offer all the amenities that one expected in high-end projects in Mumbai are being not just matched, but bettered. Thane residential realty has gone one-up on whatever Mumbai could offer in terms of amenities and facilities, it has already encompassed larger sized apartments which essentially, are ‘palaces in the sky’.

Let us look back, at the period gone by - in terms of ‘affordability’ Thane’s residential real estate has delivered to its potential  – it offers homes to suit all. In terms of accessibility, it is probably the most centrally located residential conglomeration, easily accessible from South Mumbai, Western Suburbs, Navi Mumbai, Bhiwandi and Panvel – Thane is also the nodal point for neighbouring cities like Nasik, Pune or Surat. Coming to ‘ambience’, it has all aspects of urban living while not compromising on space, quality of life and culture. And all this is backed by vision of Local Authorities -- Thane has more than stood up to the expectations of developers and also the common man – and, it has a bright future as well. Developers look forward to working to the city’s potential and planning projects that will meet the expectations of home seekers in 2020 and 2030. Thane has excellent development in certain pockets and locations - Pokharan and Ghodbunder Road are examples. And, there is a vast land bank yet to be developed, which offers immense scope for future development. The need is to plan Thane’s skyline in a manner that is ‘future perfect’.

Present-day, we see that Thane’s skyline is undergoing a paradigm shift – from a time when projects offered homes that were ‘value for money’, now it is a race to provide the best. Thane projects are being considered as the ‘next home’ by home seekers from south Mumbai as also NRIs returning to India, and the residential realty offerings are keeping pace with what a Global city should offer.

 Residential projects in Thane now offer ‘global themes’ which is touted as being a logical sequence in the evolution of Thane’s residential real estate. From the time when Hiranandani Meadows offered global design and architecture which made Thane go ‘wow!’ to developments like Neelkanth Project in Pokharan II which offered a swimming pool in its club house which looked like an extension of the Upvan Lake or the Neelkanth Villa project which offered the type of homes that hadn’t been seen before, each phase has spelt, ‘evolution’. Present day, Thane projects offer themes that are global in nature – which most real estate experts say is ‘logical’. Home seekers in 2016 want something beyond four walls and a ceiling with a floor – they want a theme, and in the high-end segment, this is something that Thane’s developers are only too happy to provide.

In 2016, Thane’s themed projects incorporate an interesting interplay of high and mid-rise towers that weave in the elements of nature. In these new global themed projects, towers are planned so that they have cool air funnelled to homes, east - west orientation to maximize light and energy, verdant landscaped gardens, sun shading to keep the heat out, azure blue swimming pools and lots more. These projects offer ‘luxe’ apartments with globally themed amenities such as fully air-conditioned homes, agglomerated marble, club houses, and so on. The global aspect is best underscored by themed landscape that underscores the elements.

Theme based projects are becoming a new trend in Thane, and that is helping the city to create an identity on a global platform. As an example, consider the project Rumah Bali, which is conceptualized on Balinese theme which is targeted at the fastest growing number of discerning home buyers, who seek best of international class concept and construction.

Thane projects have taken to global themes, given that home seekers want something new and different from what is been provided by Thane’s developers presently.

Thane has performed to its potential, but what of its future? One looks forward to the skyline of 2020 an 2030 – and, considering that it has fulfilled potential so far, it will definitely continue to do so.