Project Of The Week: Lodha Codename Amara, Thane West

Thane West, a town situated in Mumbai Metropolitan Region (MMR) , is one of the upcoming real estate destinations for home buyers looking for property on the outskirts of the city. Though on the fringes, the city is in close proximity of many IT parks and commercial complexes in Navi Mumbai. Interestingly, Thane accounts for 13.3 per cent of Maharashtra's GSDP (gross state domestic product) .

The city is also dweller-friendly, as it has a nice climate throughout the year and is also home to many architectural heritage and tourist spots. To capture the rising demand for real estate in Thane, Lodha Group has introduced its new project Codename Amara here. PropGuide explores this new project:

The project

Lodha Codename Amara is spread across 88 acres. The project, launched in March 2016, will have 4,050 apartments for sale. The apartments, available in 1-BHK and 2-BHK configurations, will have sizes ranging from 720 sq ft to 1,026 sq ft. These will be up for possession in December 2019.

Premium imported marble tiles will be used in dining rooms, while kitchens will be modular and will come with pre-installed dishwashers. Numerous amenities available in this residential society include:

The locality

Thane West is a top-notch residential location of MMR. It enjoys seamless connectivity to Navi Mumbai, Eastern, and Western Suburbs of the city. The locality is surrounded by many tourist spots as well. Following are some of the important locational advantages of this location:

Tourist attractions:  Sanjay Gandhi Park, Upwan lake, Kelwa Beach, Gateway of India, Masunda Lake, Kopineshwar Lake

Key thoroughfares: Thane-Vashi Harbour Railway Line, Central Line, Best Bus Service, NH-3, NH-4, Ghodbunder Road

Shopping and recreation: Lake City Mall, Viviana Mall, Korum Mall, Eternity Mall

Educational institutes: Merry Angels International School, Euro School, D A V Public School, Lodha World School, Universal High School

Healthcare centres: Bhanushali Hospital, Ayush Nursing Home, Prachi Hospital, Lok Hospital, Trupti Hospital

Infrastructure & future prospects

Thane West will soon have a metro rail line which would run along the Ghodbunder Road with nearly 10 halts within Thane. This line will enhance the connectivity of this area with the main city. Construction of the Thane-Diva Road, Bhiwandi bypass, and parallel roads extending from Thane to Kalyan have been planned along the metro line.

The price

Apartments at Lodha Codename Amara are priced at Rs 8,004 per sq ft. While 1BHK apartments are available in size 720 sq ft, the 2BHK units are available in two formats - 882 sq ft and 1,026 sq ft (accompanied by a puja room) .

The developer

Lodha Group is a renowned name in the real estate sector of Mumbai. It was incepted in 1980 by Mangal Prabhat Lodha. The group has an experience of developing 42 projects in and around Mumbai. Moreover, around 35 projects are still in an under-construction stage. Lodha Group is also known to have been developing the world's tallest residential tower, World One.  Belmondo, Fiorenza and Aurum are some of the group's well-known projects.

PropGuide's verdict

Overall recommendation

Thane offers an optimum mix of residential and commercial spaces. Interestingly, reports suggest Thane will witness a 40 per cent hike in employment opportunities, which will further hike the property prices in this region. Property investors should keep an eye on projects in this region.