Pokhran Road: A haven for 1 BHK flats in Thane

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Pokhran Road

Bordered by a spate of high-street retail stores, malls, commercial centres and health-care facilities, Pokhran Road in Thane has evolved into a favoured realty destination. While realtors prefer the stretch owing to the availability of large tracts of land alongside, homebuyers fancy the location due to its holistic transformation and competitive property prices.

According to a report by global consulting, Knight Frank, Thane and its peripheral areas have been identified as high-interest zones due to the remarkable execution of residential developments, commercial establishments and organised infrastructure complemented with the lush green surroundings. Pokhran Road in the western peripherals is one such location that has emerged as a noted realty location in the city and has garnered increased traction from investors and end-users alike. Its competitive prices make it a haven for budget-sensitive homebuyers. A 1BHK flat in Pokhran Road is priced at approximately Rs 60-80 lakh.

Geographical location

The Pokhran Road is divided into Pokhran Road I and II, and the realty dynamics across both the stretches are quite dissimilar. “While the earlier developed Pokhran Road I that starts from the Cadbury Junction comprises more of resale stock and is largely preferred by the investor class, the Pokhran Road II, beginning from Majiwada, is home to several newly constructed housing units and is favoured by the end-user community,” Harish Jadhav, a realty agent, Raunak Estates.

Key factors influencing realty growth along the Pokhran Road:

Competitive pricing and ample land supply

The broadening of Pokhran Road from 25 ft to 40 ft has considerably encouraged commercial and residential growth alongside. While housing demand is triggered by competitive property prices, supply remains robust on the back of availability of residential plots and holistic infrastructure growth.

According to 99acres.com Insite Report (Jan-Mar 2019), of the total 2,000 housing units added in Thane, maximum launches were reported along the Pokhran Road and the Ghodbunder Road. Many reputed builders who have recently established their footprints in the micro-market include Wadhwa, Cosmos and Punit Group. Besides, other eminent players such as Raymond and Shapoorji Pallonji have also announced their upcoming projects in the area.

“On the demand front, mid-sized 1 BHK and 2 BHK units ace the popularity charts across the property types. People who aim to earn higher capital gains in future prefer investment along the stretch, particularly along the Pokhran Road II due to its proximity to Eastern Express Highway and South Mumbai,” avers Amit Ruparel MD Ruparel Realty .”

“Maximum demand is concentrated towards the newly developed residential projects along the Pokhran Road II. Despite tax benefits in the resale segment, homebuyers are inclined towards lately constructed projects on account of increased amenities and competitive property prices,” adds Jadhav.

Localities

Average Weighted Capital ‘Asks’ (in per sq ft)

Average Weighted Rental Rates (monthly)

Pokhran Road I

Rs 10,000 - 11,900

2 BHK- Rs 21,800-24,250

Pokhran Road II

Rs 10,100 - 11,850

1 BHK- Rs 14,100- 16,000

2 BHK- Rs 22,000-23,700

3BHK- Rs 26,600- 28,700

Source: The capital and rental values are average of listings posted on 99acres.com

Infrastructure and connectivity

Social and physical infrastructure

Pokhran Road is bordered by various hospitals, malls and high street retail stores. Kelkar Hospital, Jupiter Hospital and Bethani Hospital are some of the reputed healthcare centres near the belt. For entrainment and shopping purposes, Korum Mall, Viviana Mall and Hyper City are the best options located nearby. Some of the educational institutes in proximity include Singhania School, Lokpuram School, Vasant Vihar High School and Junior College and Hiranandani Foundation School. The micro-market also lies in the vicinity to famous IT Parks such as Odyssey IT Park (2.4 km), and Ashar IT Park (1.3 km).

Seamless connectivity

Owing to excellent road connectivity to Jogeshwari-Vikhroli Link Road (JVLR), Santacruz-Chembur Link Road (SCLR), Ghodbunder Road, Eastern Freeway, NH-8, Mumbai-Nashik Highway and the Thane-Belapur Road, the location ensures quick commute to various parts of Mumbai Metropolitan Region (MMR). Proximity to Central and Harbour railway lines also add to the convenience and ensure hassle-free travel for the public.

Realty outlook

After bearing the brunt of reformatory changes, the realty market along the Pokhran Road seems to turn corners with a revival in demand and supply of residential units. The area remained the cynosure for builders and buyers’ alike and witnessed a five percent growth in the average weighted capital prices in the last one year. The trend is anticipated to continue in the upcoming years owing to various infrastructure developments announced by the government and the long-term effect of the realty policy.

In a nutshell, natural landscapes coupled with sound infrastructure development makes Pokhran Road one of the most preferred locations to buy a house in Thane. With big business houses foraying into the market and adding new insights to their projects to effectively cater to the modern homebuyers, it seems that Pokhran Road in Thane is set to accelerate realty growth in the city.


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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