Ghodbunder Road, As An Investment Hub, Is Growing From Strength To Strength
In An Exclusive Times Property Roundtable, We Tried To Achieve Just That.


Ghodbunder Road, Also Known As The State Highway-42 Runs Through The District Of Thane. It Is A 20-Km Stretch Connecting The Eastern Express Highway And The Western Express Highway. Rizwan, A Real Estate Agent In The Locality Says, “Since The Locality Is Strategically Placed And Offers Highspeed Connectivity To Every Part Of Mumbai, It Is Emerging As An Investment Hub. Also, It Has A Lot Of Potential Due To The Availability Of Land For Residential Development And Upcoming Infrastructure Development.“ Opment.“

With Developers Coming Here To Build Projects, Buyers Are Getting Attracted To Its Better And Affordable Housing Options With Low Rentals, New Projects And Good Amenities.

According To Realty Experts, Ghod Bunder Road, Once A Town With Narrow Roads And Low-Rise Residential Projects, Today, Is Highly Developed With Skyscrapers, Flyovers, Highways, Wide Roads And Malls. Subhadra A Shukla, A Resident Of The Locality Says, “Ghodbunder Road Has The Best Natu Ral Environment Since The Ulhas River And Yeoor Hills Make It A Serene Place To Live In. Not Only This, Driving From Dadar To Ghodbunder Road Is Swift And Quick As You Will Hardly Find Any Traffic.“ So Whether You Are A Buyer Or An Investor, Ghodbunder Road Seems To Be A Promising And Smart Investment Destination.

Credit : Epaperbeta.Timesofindia.Com



Residential Projects In Thane Contact Ace Constructions Sales Office


Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602


How to Increase Your Home Loan Eligibility?


It May Be Hard To Quailfy For A Higher Home Advance Sum With Limited Pay, In Any Case, There Are Approaches To Build Your Home Loan Qualification. We Records Down A Few Ways You Can Embrace To Upgrade The Qualification Criteria.

By And Large, Banks Take After Fixed Obligations To Income Ratio (FOIR) Technique To Figure Your Home Credit Qualification. Be That As It May, There May Be Occasions When Your Home Loan Necessity Is Somewhat Higher Than What You Are Qualified For. Much The Same As Anupam Seth, A 28 Year Old Inhabitant In Noida Who Acquires A Month To Month Salary Of Rs 50,000 And Is As Of Now Paying An Equated Monthly Installment (EMI) Of Rs 8000 For An Individual Advance. Notwithstanding Having No Extra Risk, His Bank Thought Of Him As Qualified For An Advance Sum Where His Month To Month EMI Does Not Surpass Rs 17,000, And Offered A Credit Of Just Rs 14 Lakh After Few Backend Counts. Presently, Considering The Extravagant Property Rates In Noida, Rs 14 Lakh Would Scarcely Enable Anupam To Purchase A Better Than Average Private Space For His Family. We Explains On What Anupam Can Do In Such A Circumstance.


Decide On A More Drawn Out Home Advance Residency


The Aggregate Advance Sum Endorsed By The Bank Is Specifically Subject To The Residency Of The Advance, Includes Anil Kumar, Financial Expert, Credit Mantra, Delhi. In The Event That You Pick A More Drawn Out Home Advance Residency, The Odds Of Profiting Higher Credit Increments. For Example, In The Event That You Were Wanting To Take A Home Advance Of Rs 20 Lakh For A Long Time, It May Get Raised To Rs 30 Lakh If The Residency Is Reached Out Up To 20 Years. Be That As It May, Your Age Assumes A Key Part Here. Without A Doubt, A Candidate Of 50 Years Can’t Surpass The Residency Of The Advance As Banks Don’t Authorize Advances To Individuals Past 65 Years Old.


Tidying Up Existing Liabilities


Master Proposes To Tidy Up The Current Credits First Before Applying For Another Home Loan As This Will Expand The General Month To Month Investment Funds And In This Manner The Advance Qualification. As Specified Above, Banks Primarily Take After FOIR Methodology While Affirming The Credit. The Diminished Risk Enhances General Holds As Well As Enlarges The Odds Of A Higher Advance Endorsement.

2 BHK Apartments in Thane
Credit : Freepik.Com


Incorporate Your Mate


A Joint Application With Your Working Mate Is Another Extraordinary Method For Expanding Home Credit Qualification. As Both Conjointly Bear The Onus Of Reimbursing The Credit, Banks Effectively Give A Higher Home Advance To Such Candidates. One Can Likewise Club His Or Her Folks Salary And Can Take A Joint Home Credit.




The Measure Of Home Credit Affirmed By The Bank Is Likewise Reliant On The CIBIL Score. Clients With A Truly Alluring CIBIL Score Of 700 Or Past Can Ask For Extending Their Credit Confine. In Any Case, Clients, With CIBIL Score Under 700 May Think That Its Hard To Benefit Such Help.


Variable Pay


Keep A Record Of How Much Factor Livens And Recompenses You Procure As A Piece Of The Employment. This Could Be Helpful While Deciding Your Reimbursing Limit If There Should Arise An Occurrence Of A Higher Credit Is Required. Salary From Reward Or Enthusiasm From Stores Ought To Be Kept Up.


Easy Revenue


On The Off Chance That You Are In Desperate Need Of A Higher Home Loan Sum, You Can Likewise Investigate Expanding The Residency Of A Current Advance, For Example, An Auto Advance Or Advance Against Property As The Financing Cost For Such Credits Is Inside 10 Percent

2 BHK Apartments In Thane Contact Ace Constructions Sales Office


Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602

“Take The Real Estate Plunge Now”


What Happens When You Get The Young Guns Of Mumbai’s Real Estate Market In One Room To Discuss The Burning Issues Plaguing The Sector?
In An Exclusive Times Property Roundtable, We Tried To Achieve Just That.


Here Are A Few Takeaways

The Recently Held CREDAI-MCHI Thane Youth Wing Roundtable Saw The Getting-Together Of The Young Fresh Blood That Has Taken It Upon Themselves To Catapult This Liquidity-Starved Sector (The Third Highest Contributor To India’s GDP), To A Brighter Future.




The Age Demographic Of The Young Buyers Is In The Range Of 27-40 Years. Their Priorities Have Shifted From Other Materialistic Indulgences To Something More Substantial Such As Real Estate. They Understand That Real Estate, As An Asset, Will Only Give Them Healthy Returns In The Future. After All, It’s The Only Asset That Appreciates, Isn’t It? They Have Also Refrained From Investing In Other Assets Such As Stocks Or Gold.

President, CREDAI-MCHI
Thane Youth Wing And Managing Director, NM Spaces




With The Triple Threats Of Demonetisation, RERA And GST Out In The Open, Fence-Sit-Ters Are Urged To Become Active Home-Buyers. Since There Are No More Big Poli-Cy Changes That Are Left To Be Announced, It Is The Best Time To Go Home-Hunting. Also, The Ease Of Doing Business Has Come In, With The Help Of Which It Would Take About Two Months To Get The N Clear-Ances.

Vice-President, CREDAI-MCHI
Thane Youth Wing And Director, Rosa Group




The Youth Today, Is Well-Aware, Well-Read And Is Well-Versed W.R.T Its Needs And Preferences While Buying A Home. They Are Earning Well And Are Seeking A More Wholesome Living Experience And Not Lust Four Walls. Hence, We Should Not Under-Estimate The Youth As A Buyer Segment.

Joint Treasurer, CREDAI-MCHI
Thane Youth Wing And Sales Head, SquareFeet Group


Credit : Epaperbeta.Timesofindia.Com

















Residential Projects In Thane Contact Ace Constructions Sales Office

Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602

Top 5 reasons why HNIs ought to put resources into Indian Office Spaces



The Business Fragment Has Bit By Bit Turned Into An Option Venture Stifle For A Developing Number Of High Total Assets People (HAlls) Given The Vulnerability In The Private Division. Higher Capital Thankfulness And Better Rental Yields Are The Other Development Drivers In The Business Space.

While India’s Private Realty Is Confronting A Drawn Out Droop Sought After Post The Center’s Demonetisation Move, Business Properties Keep On Garnering Speculator Intrigue. This Can Be Emphasized By Some Fascinating Discoveries In ‘Rising Trends In Real Estate Asia Pacific’ (2017), A Report Mutually Distributed By The Urban Land Institute And PricewaterhouseCoopers (PWC). According To The Report, Bangalore And Mumbai Have Pushed Out Tokyo And Sydney To Rise As The Main Urban Areas For Land Speculation For Major Institutional Speculators Over The World.

As The Two Urban Communities Were Among The Most Minimal Positioned In The Before Releases Of The Review In 2014 And 2015, Bangalore And Mumbai’s Sudden Rising May Urge HNIs To Investigate Speculation Alternatives In India’s Business Land. As Financing Is Not A Worry For HNIs, Specialists Feel The Time Is Appropriate For Them To Put Resources Into Locale That Are Probably Going To Develop As Business Center Points. We Offers Top Reasons Why Office Spaces In India Will Secure An Exceptional Yield On Speculation (ROI) In The Following Five To 10 Years:

Residential Projects in Thane | Ace Realty
Credit : Freepik.Com


Solid Medium And Long Haul Request


As Indicated By CBREss Asia Pacific Occupier Survey Report (2017), More Than 80 Percent Of Indian Organizations Are Wanting To Procure More Individuals In The Following Three Years. This Implies Office Space In India Is Relied Upon To Witness Expanding Request From Divisions Like Assembling And Coordinations Other Than The Typical Request From Information Technology (IT) And Business Process Outsourcing (BPO). Moreover, Numerous IT Firms, For Example, TCS And Infosys Have Just Begun Slanting Towards Renting As Opposed To Purchasing. The Greater Part Of The New Office Space Occupiers Are Relied Upon To Go With The Same Pattern, Which Will Add More Volume To Office Space Necessities In The Years To Come.


High Rental Yield


With Numerous Multinational Considering Forceful Extension Designs In India Throughout The Following Three Years, ‘Review A’ Workplaces Are Probably Going To Witness Request Supply Lopsidedness. HNI Financial Specialists Remain To Profit Especially In Pune, Gurgaon, And Hyderabad, Where A 5-10 Percent Yearly Bounce In Rent Rentals Is Normal. Anil Jindal, Chairman, SRS Group, Clarifies, “Empty Spaces Are At Present At A Seven-Year Low, An Ideal Open Door For Rents To Raise. As Imaginative Office Spaces With Open Territories Are Picking Up Energy, Putting Resources Into In Fact Upgraded Workplaces Will Charge Higher Rents, Proceeding.”


Great Strategies


Against The Setting Of A Developing Economy, The Business Land In India Is Set To Witness Huge Development Over Next 5-10 Years. Focus’ Drives, For Example, Make In India, Skill India, Loose Foreign Direct Investment (FDI) Standards, And Uniform Tax Collection Through Goods And Service Tax (GST) Could Give The Vital Boost To Business Office Space In The Medium-To-Long Haul. Sushil Raheja, Chief Executive Officer, Raheja Homes Builders And Developers, Clarifies, ‘These Good Approaches Made By The Focal Government Are The Real Development Drivers For Urban Areas Like Mumbai. Truth Be Told Bangalore, Pune, Chennai, And Hyderabad Won’t Fall Behind With Expanded Interest For Office Spaces And Also Retail. Urban Areas Like Indore, Chandigarh And Ahmedabad Are Likewise Slated To See An Ascent In Office Space Request With More Universal Retail Marks Making Their Entrance In The Market”

With Better Administrative Condition In The Years To Come, Engineers Ought To Have The Capacity To Venture Up The Pace Of Development Of New Office Spaces.


Capital Gratefulness In Borders


IT Showcases On The Edge Of Metro Urban Areas Offer Promising Prospects As Far As Capital Esteem Gratefulness, Steady And Predictable Wellspring Of Wage, Quality Occupants, And Longer Rent Residencies. Take Mumbai’s Satellite Towns For Example. While Mumbai Has Customarily Been A Center For Money Related Administrations, Its Neighboring Navi Mumbai And Thane Are Developing As The Following Office Space Hotspots With Enormous IT Stops In The Pipeline. At Exhibit 76 Percent Of Business Space In Navi Mumbai Is Now Involved By Significant IT Players, For Example, Capgemini, WNS, TCS, And Accenture. The Locale Is Required To Witness Normal Retention Rate Of Around 1.2 Mi II Ion# Sq Ft Throughout The Following Three Years.


Systematization Will Offer Assistance


The Greatest Change Of The Fragment Will Be Brought By Its Standardization. Land Investment Trusts (REITs) Will Help HNIs And Additionally Littler Financial Specialists To Put Resources Into Grade A Spaces Crosswise Over India. While, Around 229 Million Sq Ft Of Office Space Can Be Viewed As REIT-Consistent As Of Now, The Execution Of Real Estate (Regulation And Development) Act (RERA) Is Relied Upon To Bring About More REIT-Compl Iant Spaces Sooner Rather Than Later.



3 BHK Flats In Ghodbunder Road Contact Ace Constructions Sales Office


Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602

How to Convert an Unused Room into a Study?


We Offer A Guide For Changing Over Unused Space In Your Home Into An Examination, A Multi-Reason Room That Can Be Utilized By Understudies, Experts Telecommuting, And Craftsmen. Regardless Of Whether You Are An Inventive Expert Or An Understudy, You Require A Calm Space In Your Home With Constrained Diversions. Be That As It May, The Issue Emerges When The Design Of Your Home Or Level Does Not Devote A Particular Space For Such Attempts. Nonetheless, With Some Arranging, You Can Use Any Unused Zone In The House, For Example, An Extra Store, Storage Room, Or Visitor Room, And Effectively Change Over It Into An Examination. Here Is A Well Ordered Guide For Setting Up An Unused Space As An Investigation:

Residential Projects in Thane | Ace Realty
Credit : Freepik.Com

Shading Determination

The Shade Of Your Examination Is Of Most Extreme Significance As It Sets The Climate For One To Think. This Is One Reason Why You Ought To Consider Repainting The Picked Territory. Pick A Shading That Unwinds You And Keeps You Centered. Light Yellow, Sage, Or Even Fresh White Are In A Perfect World Suggested. On The Off Chance That You Are Profoundly Disposed, Green Would Help Be Able To You Accomplish A Feeling Of Serenity. It Brings Out A Sentiment Quiet And Quietness, Which Implies Doing Printed Material, Assignments, Or Simply Perusing Would Not Feel Like A Lot Of An Undertaking. Aside From Green, Shades Of Blue Can Likewise Be Picked As They Would Stir A Feeling Of Peace Each Time You Stroll Into The Room.

Add Surface To Your Deck

Considering That The Investigation Will Be A Significant Piece Of The House, Pick The Surface Which Suits The General Style Of Your Home Best. Clay Tiles Are Exceptionally Tough And Simple To Clean, While Wooden Floors Can Loan Warmth To Your Investigation Room, Making It More Agreeable. Covers Additionally Come In Various Shapes And Sizes And Can Be Chosen In View Of Your Necessities.

Picking The Correct Furniture

Agreeable And Ergonomic Furniture Is Something You Have To Work For Extended Periods With No Uneasiness And Diversion. On The Off Chance That You Expect Guests In Your Investigation, Having No Less Than Four Seats Is An Absolute Necessity. Winged Seats, Spinning Seats, Couches, And Club Seats Are A Few Alternatives Accessible In The Market.

A Key Component Of The Room, The Table Ought To Be Sufficiently Huge To Oblige Every One Of Your Papers Or Work Material. It Can Either Be A Straightforward Wooden Board Or An Expansive Work Area With Your Favored Plan. Metallic Tables Are Additionally Very Mainstream Nowadays As They Fit Splendidly In A Cutting Edge Home. A Portion Of The Work Areas Accessible In The Market Have Open Or Shut Racks. These Are Very Helpful To Store Papers And Fundamental Stationery Things.

Lighting Fundamentals

A Mix Of Normal And Counterfeit Lighting Can Splendidly Enlighten In The Examination. An Upper Room With A Huge Window Gives A Decent Perspective Of The Sky And Gives Regular Light A Chance To Go Into The Room. Such Settings Would Be Ideal For Specialized Drawing, Painting, Or Visual Computerization Reason. “You Can Additionally Illuminate The Investigation With A Pendant Light Or A Work Area Light To Enlighten The Correct Spot Where You Need To Work. Shades Must Be Picked Astutely Since They Straightforwardly Influence The Amount Of Light That Comes Into The Room”, Proposes Jayashree Sengupta, A Delhi-Based Inside Planner And Home Re-Build.

Customize The Space

While A Fundamental Report Just Requires A Work Area, Seat, Bookshelves, And A Work Area Light, Adhering To The Minimum Necessities Would Lead Be Able To A Less Captivating Space. Customizing The Space Is Encouraged To Enhance Your Profitability. Feng Shui Specialists Propose Putting A Bamboo Or Prickly Plant In The Investigation To Enable You To Remain Centered. Then, Masterful Pieces Like An Artwork Can Liven Up The Investigation And Empower Innovativeness. To Give The Room An Enticing Look, Incorporate A Wind Ring, A Hanging Bookshelf, Or Even A Plant Close To The Window.



Residential Projects In Thane Contact Ace Constructions Sales Office

Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602

Thane-Ghodbunder : From two-lane road to mall street


Development Over The Years Has Spurred Thane’s Growth, And The Shopping Malls Along Ghodbunder Road Are Second To None When It Comes To Retail Therapy

Mumbai: It’s A Public Holiday And People Queue Up For Security Check At The Entrance Of Viviana Mall In Thane. Guards Throw Bags Onto The Scanning Machine With Practised Indifference. School Holidays Have Started, But Like A Lot Of Modern Urban India, Retail Therapy Is Sometimes The Only Entertainment And There’s Plenty Of It In Thane.

It’s Past “Happy Hours” 4 O’clock On A Monday Afternoon But A Bunch Of Pubs On The Ground Floor Of The Mall Are Empty—Because It’s Just A Few Metres From The Highway. Inside The Mall, The Alleyways Are Packed, Loudspeakers Bellow With The Sounds Of Some Contest And There Is A Continuous Stream Of People.

This Is Just One Mall In The Bustling Neighbourhood.

On The Eastern Express Highway That Connects Mumbai To Nashik And Beyond, Driving Northwards, A Slew Of Malls Dot The Road. Starting With Korum Mall, Then Viviana, High Street Mall, Lakecity Mall, Wonder Mall And R Mall—This Roughly 5km Stretch Is Packed With Splurging Options. Further South Of Korum Is Cinemax-Eternity Mall And North Of R Mall Leads Up To Ghodbunder Road, Thane’s Hottest Development Zone.

Credit : Viviana Mall

The Neighbourhood Also Has A Stand-Alone D-Mart Store And Showrooms Of Woodland, Vijay Sales, Reliance Digital, Kohinoor, LG And Samsung For More Focused Shopping. Big Bazaar Hyper Market Store Upgraded To Big Bazaar Gen Nxt, A Testimony To The Evolving Lifestyle Of People In This Area.

The Rest Are Symbols Of Thane’s Growth As A Township Over The Years—Emerging From The Shadows Of Big Brother Mumbai.

All This Development Has Come Up In The Last 15 Years, Changing The Texture Of This Neighbourhood Completely. Typically, Habitations Along A Highway Tend To See It Both As An Advantage And Not—You Get Road Access But No Peace And Quiet. Retail Has Added A Third Dimension, Making The Area More Livable And Possibly More Exciting.

This Is Not Just The Low-Key Mom-And-Pop Retail Though—This Is The Big Box, Thousands Of Square Feet Of Built-Up Space Filled With Shops, Cinemas, Entertainment And The Inevitable Traffic Jams.

This Is No Dubai, Although The Similarities Go Beyond Just The Giant Stores—There Was A Dust Storm In The Afternoon On The Day Of Our Visit, With Dust Flying From The Piles Of Cement And Debris Lying At Various Corners Of The Crowded Neighbourhood. Thane Is A City That Is Being Furiously Constructed And Reconstructed, Making It A Retail And Residential Paradise.

Unlike Dubai, Not All Of The Rapid Retail Development Is Successful. For Instance, Out Of Seven Malls In Thane, Only Two Are Grade A And The Rest Are Grade B.

Across India, There Are About 230-250 Malls Of Which Only 20% Are Grade A, According To Ashutosh Limaye, Head Of Research At Jones Lang LaSalle Property Consultants (India) Pvt. Ltd (JLL India). Among The Criteria That Make For Grade A Are Size And Management.

Grade A Malls Have Better Occupancy Rates And Returns On Investment And Are Deemed To Be Successful In Contrast To Grade B Malls, Which Could Be Struggling Without Quality Retailers And Footfalls.

The Older Parts Of Thane Still Retain Their Small Town Characteristics—Cramped Roads, Smaller Buildings, And Many Parks And Lakes, Reasons Why Residents Love This City So Much—Causing Some Sort Of A Divide Between The Old And The New.

Rising Growth

Thane Has A Place In National History, Predominantly Due To The First Railway Line In The Country That Was Laid In The 19th Century, Connecting It Close To The Southern Tip Of Mumbai, Bori Bunder (Now Chhatrapati Shivaji Terminus).

In More Recent Times, Thane Became A Residential Hub For People Moving Out Of The Increasingly Unaffordable City—Like Other Suburbs Of Mumbai.

According To The 2011 Census, Thane Had A Population Of 1.8 Million And Estimates Say It Has Increased By Nearly 50% In Five Years, Making It One Of The Fastest Growing Towns In The Country. With Over 14,000 People Per Square Kilometre, This Is A Dense Human Habitation.

Data From The Two Rounds Of India Human Development Survey Suggests That Average Household Income In Thane Rose By 137% Between 2004-05 And 2011-12 For The More Than 200 Households That Were Interviewed. This Is Largely In Line With The 133% Jump In Annual Income Reported By More Than 300 Mumbai Households Over The Same Period.

It Features In The List Of Top 20 Promising Cities (With A Population Of Over A Million And Excluding The Metros) Put Together By First Smart Cities Council Along With Research Firm Indicus Analytics.

Consequently, There Are Close To 50-60 Projects Under Construction In Thane And Most Are On The Ghodbunder Stretch Of 9-10km, According To Hemant Gala, Director At Larkins Group, Property Developers In Thane For Nearly 40 Years. The Group Has Built About 5,000 Units So Far And Has 2,500 Units Spread Across 30 Acres Under Construction.

By 2019, Another Builder, The Hiranandani Group Will Have A 6,000-Unit Township Catering To A Population Of 35,000 People And Providing Employment For As Many As 60,000. Tata Consultancy Services Ltd Has A 700,000 Sq. Ft Campus With Employment For 22,000 People Coming Up In Ghodbunder, A Complete Township With Commercial, Residential, Retail And Entertainment Facilities. The Corporate Headquarters Of Bayer Will Be In The Township.

“We Started Selling At Rs1,000 Per Sq. Ft; Now We Are Selling At Rs10,000 Per Sq. Ft,” Says Niranjan Hiranandani, Co-Founder And Managing Director Of Hiranandani Group, One Of The More Significant Builders In The Area.

The Ghodbunder Stretch Hosts A Couple Of Four-Star Hotels And The Goenka International School At Kapurbawdi. The Rates For The Residential Projects In The Area Vary Between Rs6,000 To Rs11,000 Per Sq. Ft, Adds Gala.

Long-Time Residents Proudly Say That In Thane, Every Junction Has Flyovers, There Are No Signals And It Is Extremely Well Planned. The Retail, Multiplexes, Commercial And Residential Are All Well Laid Out.

Moreover, Most Infrastructure—Schools (The Smt. Sulochanadevi Singhania School Is Considered The Best In The Region By Locals), Colleges And Hospitals—Is New. There Are Walking Streets With Shops.

The Quality Of Life Is Beautiful, Adds Hiranandani.

In Fact, Some Predict That With The Developing Infrastructure And Transportation, People’s Movement In The Future Would Be From Mumbai To Thane—To Shop, Of Course. Way Back In 2005 This Used To Be The Case When Thane, Before Mumbai, Got The First Mall With A Multiplex, Entertainment, Food Courts And Shopping Under One Roof—Wonder Mall.

“What Was Ghodbunder Road 15 Years Ago? It Was A Two-Lane Road; Today It’s A 14-Lane Road With Seven Lanes On Each Side. Also There Is A Metro Coming Up From Chembur To Kasarwadavali,” Says Hiranandani.

“What Works For Thane—This Is True For New Catchment Developments Like Malad And Noida—Is That They Have Space For Building Large Malls,” Says Shubhranshu Pani, Managing Director (Infrastructure Services) At JLL India.

Old Versus New

Siddhesh Malgaonkar, A Senior Business Analyst With BNP Paribas India, Has Lived In Thane All His Life, Some 30-Plus Years. He Has An Enviable Residential Address—Just A Short Walk From Viviana.

He Recollects A Childhood In The Small Suburb Of Typically Middle-Class Maharashtrian Families Living In A Place That Few Wanted To Visit. Things Started To Change With A New (Thane Municipal Corporation) Commissioner T. Chandrashekhar In The Late 1990s. During His Tenure, A Number Of Illegal Structures Were Demolished And Thane Was Beautified, Roads Widened And Flyovers Built.

“Culturally, Thane Is Closer To Pune With Its Theatre, Prominent Industry People Who Have Been Living There For Some Time… It’s Always Been Peaceful, With Negligible Crime Rates. This Was The Old Thane, Mainly Around The Station And Gokhale Road, With A Rich Cultural Charisma,” Says Malgaonkar.

The “New” Thane—Which Includes Ghodbunder—Is A Different Beast Altogether. The Town’s Green Cover—This Was Essentially A Forest Area—Has Been Replaced With Concrete, A Contrast To “Old” Thane With Lakes, Jogging Tracks, Gardens, Etc. “Ghodbunder Is A Completely New Development,” Says Pani. “The Road Initially Had Utility Stores That Helped Building Homes, Like Furniture, Plumbing, Home Improvement, And Then Consumer Durables Came Up Followed By The Big Box Retail Malls, Which Are A More Recent Phenomenon.”

Viviana, Which Is Just Off Ghodbunder, Is Four Years Old And Korum Started Operations Earlier In 2009. The Two Malls Are Within A Kilometre Of Each Other Though The Latter Pales Compared To The Former.

Wonder Mall, Built By Kanakia Spaces Realty Pvt. Ltd, Was The First Of Its Kind In All Of Mumbai Metropolitan Region And Thane Municipal Corporation. “People From Mumbai Used To Come To This,” Reminisces Himanshu Kanakia, Managing Director Of Kanakia Group, Which Used To Operate The Cinemax Theatre Chain. In 2012, PVR Ltd Acquired It.

The Same Year (2005) Saw The Launch Of High Street Mall By Larkins Group And A Year Later, R Mall By Runwal Group. “It Was Boom Time For Construction And The ‘Mall Culture’ Was Also Just Taking Off,” Explains Gala Of Larkins Group.

Most Of These Earlier Generation Malls, Like Wonder, Eternity And High Street, Were Built To Sell And Differ From Places Like Viviana, Which Only Leases Space To Retailers. “The Shopping Area, We Sold It. We Never Thought Of Keeping It. That Is Why It Is Not Successful,” Says Kanakia, Who Operates A Mall In Nagpur That Is 100% Owned By The Company And “Is Successful”.

He Adds That A Successful Mall Requires A Good Mix Of Brands, Competent Management Which Takes Care Of Aesthetics And Cleanliness, Creating And Celebrating Events To Drive Footfalls. Sharing Revenue Works Better Than Fixed Rentals. “All Of This Is Missing At Our Thane Malls,” Says Kanakia.

In Contrast, At Viviana, On Long Weekends Or Big Days, When They Run Events And Line Up Promotions And Sales, As Many As 50,000 People Visit In A Single Day, According To Its Chief Operating Officer Sunil Shroff. On An Average, A Million People Visit Per Month, According To Data Provided By The Mall. Viviana Has Already Changed Many Resident Brands In The Past Three Years To Remain Relevant.

To Be Sure, Viviana Is The Biggest Mall In Thane. Set Over One Million Sq. Ft, With Ground Plus Two Levels, Its Parking Lot Goes Down Two Levels, Each Bursting With Vehicles And People On A Holiday.

Viviana Is Grade A, According To JLL India Research; Its Vacancy Is At About 5-10% Which Can Be Seen As The Natural Rate. Grade B Malls Have A Vacancy Of Anywhere Between 10-30%. Vacancy As A Measure Can Be Used To Gauge The Success Of A Mall.

What Works For Viviana Is That It Gets A Healthy Percentage Of Shoppers From As Far As Kalyan, And Ulhasnagar, Bhiwandi, Powai, And Neighbouring Mulund, Ghatkopar And Airoli Suburbs. The Mall Has One Of The Largest Multiplexes In The Neighbourhood With 14 Screens And An Entertainment Zone For Children—Fun City Spread Across 28,000 Sq. Ft.

The Retail Conundrum

“Earlier, This Used To Be A Jungle,” Says Deepika Nair, 29, While Enjoying A Snack With A Jolly Bunch Of Girlfriends At SodaBottleOpenerWalla In Viviana. “People Living Here Don’t Need To Go To Mumbai Any More. The Last Time I Visited Linking Road (A Popular Street-Side Shopping Destination In Bandra) Was 15 Years Ago. Now Everything Is Available In Thane.”

Even If The “Mall-Culture” Is A Relatively Recent Phenomenon In This Part Of The Township, There Has Already Been A Churn. Wonder And Eternity, Which Were Built On The Sale Model, Are Now Largely Just Operating Multiplexes. Viviana, Phoenix Market City (In Kurla) And Inorbit (Malad)—The Latter Two In Mumbai—Run On A Lease Model, Which Gives Owners Flexibility In Planning Retail Experience.

MG Road In Gurgaon Is The Best Example Of This. It Was India’s First Mall Street: Places Like MGF Metropolitan, DLF Grand, DLF City Centre, DLF Mega And JMD Regent Arcade All Came Up Within Close Proximity Of Each Other, Though Some Of Them Now Are Not Purely Retail.

In Pune, The Inorbit Mall Converted Into A Commercial Complex In 2016 As There Were Close To Seven Malls Launched In The City, All Of Them In A 6-7km Radius. The Stretch Of Nagar Road In Pune, For Instance, Had Three Malls Close To Each Other In 2011.

Unlike Orchard Road In Singapore Or Even The Shopping Avenues In The Philippines And Bangkok, Which Have Large, Successful Malls In Close Proximity, India Lacks Infrastructure. Also, There Is No Secondary Or Tertiary Market, Like A Large Floating Population Of Tourists, Shopping In Thane. “So Each Micro-Market Has A Limited Business Potential,” Says Rajneesh Mahajan, Chief Executive Director Of Inorbit Malls (India) Pvt. Ltd.

Meanwhile, Viviana Has Managed To Consolidate Retail Of All Big Brands Like Zara, Shoppers Stop, Lifestyle, Forever 21, Nalli’s And Food And Beverage Outlets Like Bhagat Tarachand, Mainland China, Besides SodaBottleOpenerWala. Now Other Malls In The Neighbourhood Are Facing A Loss Of Business And Will Have To Look At Different Ways To Step Up To The Competition, Adds Pani Of JLL India.

On The Other Hand, With The Proposed Development In The Coming Years, And Distances Seeming Insurmountable Despite Increased Public Transportation, Thane Residents May Just Accept What They Have, With Relief And Pleasure.

“When I Was A Child, The Shopping Hub Was Dadar (In Central Mumbai). Of Course, The Way Of Shopping Has Also Changed. For Small Traditional Stuff, We Go To Gokhale Road. If You Want Branded Stuff, We Have The Malls,” Says Malgaonkar Of BNP Paribas India, Who Considers Ghodbunder A “Different Suburb”.

This Is The Last In A Three-Part Series, Which Looks At Neighbourhoods In And Around Mumbai—Pali Naka, Bandra; Kala Ghoda, Fort; And Ghodbunder Road, Thane—That Have Transformed Over Time Through Retail And Commerce, And How That Has Impacted Their Socio-Economic Fabric.



Buy 2 BHK In Ghodbunder Road ,Thane Contact Ace Constructions Sales Office

Ace Constructions

A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602

4 reasons why home prices will rise post RERA


RERA Has Been Implemented With The Purpose Of Enhancing Transparency, Mitigating Information Asymmetry And Applying A Uniform ‘Code Of Conduct’ For Developers Across Various States. It Seeks To Reduce The Volatility Seen In The Real Estate Sector In The Past, And Eliminate The Trust Deficit Between The Two Primary Industry Stakeholders – Builders And Buyers. However, Residential Prices Are Likely To Rise In The Post-RERA World. Here Are Some Reasons:

The Supply Side Story :


RERA Will Play A Fundamental Role In Determining The Economic Framework Of Demand And Supply In The Real Estate Industry. Supply Will Reduce Because Developers Will Now Launch Only Those Projects Which They Are Likely To Complete Within The Promised Timeframe. (Post RERA, The Penalty For Time Over-Runs By Developers Are Huge.

The Demand Side Story :


Demand Will Remain Robust But Witness A Redistribution. Since Risk On Residential Investments Will Be Mitigated, So Will Reward. This Is Why We Will Witness The Incidence Of High Risk-High Returns Investors Thinning Down On The Ground. Investors Will Also Be Low-Key Because They Need To See Increase In Prices Accompanying Increase In Sales – Something They Have Not Witnessed Of Late.

Instead, There Will Be More End-Users In The Market, As Consumers’ Confidence In Developers Is A Critical Component Of Market Sentiment And These Are The Primary Beneficiaries Of Greater Transparency. These End Users Will Largely Hail From The Middle-Income And Low-Income Categories Who Will Look Closely At Affordable Housing. With The Government’s Incentives For Affordable Housing And The Easy Availability Of Home Loans, We Expect End-User Driven Demand To Pick Up.

With A Pulling-Back Of Supply And A Continuous Robust Demand From End-Users, The Residential Market Will Soon Witness A Marginal Uptrend In Residential Prices.

Costs For Developers :


Apart From The Demand And Supply Dynamics, The Holding Cost For Developers Is Likely To Go Up. Essentially, No New Projects Can Now Be Launched Before All Approvals Are In Place. The Window Of Price Escalation Between ‘Pre-Launch’ And ‘Official Launch’ Which Was Earlier Available To Developers Is Now Shut. This Additional Holding Cost Will Potentially Be Passed On To Buyers, Adding To Their Overall Cost Of Purchase.

Land Prices :


The Cost Of Land Will Go Up Within City Limits As Post Demonetization, There Will Be No Leeway For Diversion Of Surplus Cash From Other Businesses Towards Purchase Of Land. The Force-Fed Transparency Post RERA Will Further Make It Necessary For Developers To Use Legal Funds To Purchase Land. This Will Add To Their Overall Input Costs And Therefore Lead To Increased End Product Prices.

On The Positive Side, End-User Demand Is Stable And Some Recent Reductions In Home Loan Rates By Banks Will See That The Trend Continues. Overall, We Anticipate A Marginal Upward Increase In Pricing For Residential Units In A Market Backed By Genuine Buyers And A Lower Yet Predictable And Good Quality Supply Pipeline.


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A-201 Manas Apartment, V.S Marg.
Near Teen Petrol Pump, Thane(w) – 400602