Navi Mumbai Vs Thane: Which One Should You Choose

When a prospective buyer is looking for affordable areas in Mumbai, Navi Mumbai and Thane emerge as the top choices. Now arises the question, which one of the two localities is better? Let is trying to find that out based on certain facts.

Infrastructure

There is a stark difference when we talk about infrastructure development and maintenance in the two areas. While Navi Mumbai is developed by the City and Industrial Development Corporation (CIDCO) , Thane has been a part of the Mumbai metropolitan region and has its own municipal body since 1982.

Earlier a rural area, Thane saw urbanisation in the past two decades when real estate developers started moving to the region for building commercial and industrial setups. Today, Thane is listed as one of the upcoming smart cities of India for which the town is already undergoing multiple changes.

On the other hand, commercial development in Navi Mumbai has started recently under the Maharashtra IT/ITes policy that provides incentives and subsidies to companies as a part of the ease of doing business initiative.

Verdict: Thane has an old-city like fabric where malls, shopping complexes, entertainment setups have already been established while Navi Mumbai has yet to make much progress in this regard.

Connectivity

Navi Mumbai and Thane both are connected through Mumbai local train network. However, Navi Mumbai's local train connectivity is limited to Panvel whereas in beyond Thane, areas such as Ambernath, Dombivli and Kalyan are excellently connected to the main city. The road route from Thane to the Eastern Express Highway is improving as a number of flyovers and underpasses are being constructed ease traffic.

For Navi Mumbai residents, the Sion-Panvel Highway is already operational while the proposed Trans Harbour Link Road will further boost the connectivity from Ulwe to South Mumbai.

Verdict: Both regions have good connectivity. The arrival of app-based cab services has made the commuting easier for inter-region travelling. The Thane Municipal Transport Bus service currently has a fleet of 506 buses while Navi Mumbai Municipal Transport has 450 buses to ply within the region as well as into Mumbai.

Cost of living

Since Navi Mumbai has been developed recently, majority of property options in the region are new as compared to Thane. You need at least Rs 35 lakh to buy a 1BHK flat in Navi Mumbai. For a 2BHK unit, the starting price is Rs 48 lakh. In Thane, the starting price for a 1BHK is Rs 50 lakh; for a 2BHK property, you have to pay at least Rs 60 lakh. Property prices in Thane are affordable only in beyond Thane areas such as Ambarnath, Kalyan and Dombivli.

Data available with PropTiger.com show there are over 2,500 projects in Navi Mumbai, of which 2,300 projects are ready to move in. In Thane, over 600 projects are ready to move, out of 1,000.

There are over 14,000 properties available for renting in Navi Mumbai and Thane. In Navi Mumbai, you may have to pay Rs 8,000-12,000 a month for a 1BHK. Depending on the locality, rents may be different in Thane. Renting in premium localities of Majiwada in Thane West and the Thane end of Ghodbunder Road is comparatively expensive.

Return on investment 

Real estate in Navi Mumbai has seen consistent rise owing to a number of new infrastructure projects, which are in advance stages of completion. These include includes the Navi Mumbai International Airport, the Trans Harbour Link Road, the Navi Mumbai Metro Rail and flyovers. The commercial development of the region is also pushing property prices as the demand for rental property is picking up. Majority of investors in this region are from Mumbai who are reaping benefits from their investment here but prefer staying on rent in the main city.

According to data available with PropTiger.com, property prices in the area of have gone up 11 per cent in past 50 months. Kharghar, Ulwe, Kamothe, Panvel and Airoli are some of the prime localities in Navi Mumbai where average property prices are in the range of Rs 6,000-9,000 per sqft. Gami Trixie, Samyama Tower, Bhagwati Eleganza are some of the RERA-complied projects in Navi Mumbai.

For Thane, the property price rise has been more gradual due to rising preference of end-users for an urbanised town with city-like amenities. Data show real estate values have jumped up to seven per cent across localities in the past four years. The unending demand is concentrated in areas which have developed infrastructure such as Thane West or in affordable areas in beyond Thane areas. The proposed Metro route to Thane from Central Mumbai areas would further boost property values in the area being intersected by the route.

Lodha Splendora, Vaikunth Cluster 1, Godrej Emerald, Runwal Eirene are some of the RERA-complied projects in Thane.