Is it a good time to rent an apartment in the city of Thane?

In recent years, the demand for real estate properties has grown significantly in Thane. It influenced in turn, the rate of commercial workspaces and homes in the city. According to an analysis, the prices of residential properties carried out in 11 cities in the past five years, Thane and Navi Mumbai have recorded the largest percentage increase in the market for residential real estate in the nation.

With prices for apartments have risen by almost 85%, it becomes increasingly difficult for potential buyers to find a house in their budget. Therefore, a majority of people begin to rent a house.

Good choice to rent apartments in Thane:

Real Estate advisers said; more people choose to live in rent instead of buying an apartment. This trend is growing much faster, since it looks to be a more economically viable option. For example, buy a 2BHK apartment that costs Rs. 1 crore in Balkum would pay Rs. 92000 EMI. But renting the same property is much more economical because the monthly rental amount would be only Rs. 20,000, including maintenance and costs to society. This would result in substantial savings of up to Rs. 20,000 per month.

30% of the population in Thane has transferable job positions, which means that renting an apartment will continue to be the obvious choice. This is another major cause why most people prefer to rent rather than buy apartments in Thane. In addition, many of the houses in the city have been already purchased by people who own real estate in Mumbai.

Improved commute in Thane:

Most of the people works in areas along with the central line are moving from Mumbai to Thane. In Thane, renting out an apartment is a more practical decision, since the railway network makes travelling more easily to the suburbs.

People regularly travelling from Thane station and 3 other railway stations located in the city. The Thane Vashi and Thane Panvel help railway line to connect the Navi Mumbai city. There are more possibilities to extend the Mumbai metro services to the Thane city have further contributed to the real estate popularity growing in the region MMR.

Renting an apartment here has especially become an ideal option for people who commute to work in Powai. Because of the enhanced connectivity, travel has become very comfortable for many people. Another known reason about Thane city is, it is well connected to the cosmopolitan city of Mumbai and Pune.

An effective public bus transport service has further fueled the boom in the demand for rental home in the city of Thane.

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