L&T Realty has partnered with Jagdale Infrastructure to develop a 12.2-acre slum rehabilitation project in Thane's Panchpakhadi area, with L&T Realty leading the project and earning 69% of the profits. The development, which involves over 20 slum pockets and has a potential of 3.12 million square feet, is expected to be completed in five years. L&T Realty will manage the design, construction, and sale of the free-sale component, while also overseeing the rehabilitation process for slum dwellers.Read more

The final 76-kilometer stretch of the Samruddhi Mahamarg in Thane district, Maharashtra, is nearing completion and is expected to be open for traffic by the end of August. This milestone marks the full operationalization of the 701-kilometer expressway, the longest in the country. The Thane segment includes 16 bridges and four tunnels, with the Khardi bridge, standing at 82 meters, being the tallest on the expressway. Despite the technical challenges posed by the hilly terrain and the complex bridge construction, the Maharashtra State Road Development Corporation (MSRDC) is working diligently to ensure the project's timely completion. Once fully operational, the Samruddhi Mahamarg will provide a seamless link between Nagpur and Mumbai, transforming the transportation landscape of the state.Read more

Creditors of the defunct Go First Airlines are set to auction a prime 94-acre land parcel in Thane, near Mumbai, with a reserve price of approximately INR 1,960 crore. The move follows a Delhi High Court ruling allowing lessors to seize the airline's planes. The land, previously held as collateral by the Wadia group, is expected to fetch between INR 1,200 crore and INR 2,500 crore considering its development potential. Advertisements for the auction will be published soon, giving buyers 60 days to submit bids. Creditors aim to recover part of the airline's INR 50,000 crore debt.Read more

Prescon Group and House of Hiranandani have unveiled 'Belicia', a luxury residential project in Thane. This 48-storey tower promises elegant living and is slated for completion by June 2028. Located near Nitin Company Junction, it offers 2, 3 & 4 BHK apartments starting at INR 1.85 crore. Amenities include a clubhouse, swimming pools, and jogging tracks. The project benefits from its proximity to essential services, major transport hubs, and corporate parks. Thane's rapid infrastructure development and connectivity make it an attractive investment destination. 'Belicia' embodies modern luxury and represents a smart investment opportunity in the Mumbai Metropolitan Region.Read more

The newly opened NaMo Grand Central Park in Thane is one of India's largest urban parks, spread over 25 acres. Inspired by the iconic Central Park in New York and Hyde Park in London, it features four themed gardens, a lake, amphitheater, children's play areas, and walking/jogging trails. The park aims to provide city residents access to nature and green space while also hosting cultural events. In its first two months it has attracted large crowds despite some challenges in transportation access and addressing specific needs across all ages.Read more

MahaRERA has directed Godrej Greenview Housing Private Limited, part of Godrej Properties, to refund more money to a homebuyer, Ajit Dabhade, who cancelled his booking in the Godrej Emerald housing project in Thane. Dabhade had booked a flat worth INR 92.17 lakh in 2019 but cancelled due to issues securing a home loan. Godrej Properties forfeited the entire initial payment amount. MahaRERA ruled this was illegal under RERA and ordered Godrej to deduct only 2% of the flat value from the refund instead of the 5% allowed in the booking form. This ensures Dabhade receives more money back. MahaRERA also clarified its directives of a maximum 2% forfeiture in cancellation cases apply retrospectively to registered projects. Consequently, Godrej Greenview must refund Dabhade's payment within 45 days after deducting 2%.Read more

Real estate developer Square Feet Group has announced that it will invest INR 300 crore to construct 1,000 flats spread over 3 acres in Thane under their new project 'Yuva Rajya'. Targeting millennials, the project is located opposite Grand Central Park. In the first phase launch, 300 flats were released, of which 100 were sold within 6 hours of the launch. The total cost is estimated at INR 250-300 crore with expected sales of INR 750 crore. The group owns over 20 acres in the area and plans to complete four major projects in Thane by 2027 worth INR 1,500 crore and INR 3,500 crore in revenue, catering to various housing segments and commercial areas.Read more

PNT Reporter

The third Thane Creek Bridge, connecting Mumbai and Navi Mumbai, nears completion and is set to alleviate traffic congestion. Scheduled for completion in November, with the Mumbai-Navi Mumbai arm expected by June, the project boasts a total of six additional lanes. L&T Limited oversees the construction and the project is planned on a INR 559-crore budget. The 1.84 km main span includes approach roads and a toll plaza. Delays, including environmental permissions and the pandemic, pushed the start to October 2020. Once operational, the bridge promises relief for the daily two-lakh vehicles and ensures improved connectivity for the region.Read more

CREDAI-MCHI Thane’s Property 2024 expo, 'Home Utsav: Property 2024-Thane,' successfully transitioned into a digital format following its brick-and-mortar event at Raymond Ground in Thane West. Honorable Maharashtra Chief Minister Shri Eknathji Shinde inaugurated the digital expo, lauding President Jitendra Mehta's foresight in facilitating home seekers' dreams in Thane. The physical expo witnessed 31,217 registrations and 217 bookings, with banks sanctioning Rs 1250 crores in home loans. Mehta described the event as immensely gratifying, underscoring Thane's pivotal role in the MMR real estate market. The expo not only showcased homes but also fostered community engagement, setting a new standard for real estate expos in the region. The digital expo, timely launched post-event, aims to capitalize on increased homebuyer interest, providing a platform for those who missed the physical event to realize their dream homes in Thane.Read more

Squarefeet Group launched India's first Millennial Housing Project in Thane, strategically situated opposite the expansive Grand Central Park. The project, unveiled by Maharashtra Chief Minister Eknath Shinde, is a pioneering venture aimed at redefining urban living for millennials. The Grand Central Park, spanning 20.5 acres, offers a diverse range of cultural themes and lush landscapes. The housing project promises a five-star hotel-like living experience with tailored amenities including culinary delights, housekeeping, and automated laundry services. Innovative features such as dedicated health experts and hybrid gyms ensure holistic well-being.Read more

Thane recently unveiled its latest urban marvel, the Grand Central Park under the auspices of Chief Minister Eknath Shinde. Spanning 20.5 acres in Kolshet, this green sanctuary mirrors the splendor of New York's Grand Central and London's Hyde Park. Developed by the Thane Municipal Corporation and private developer Kalpataru, the park features over 3,500 tree species, themed gardens, the country's largest skating yard, and diverse recreational facilities. The Grand Central Park aims to become a cornerstone of community and environmental well-being, offering a serene escape and a hub for cultural and fitness activities in Thane.Read more

The CREDAI-MCHI Thane's 'Home Utsav: Property 2024-Thane' expo, scheduled from February 16 to 19, 2024, aims to turn dreams into reality for home seekers in the Mumbai Metropolitan Region. Set at Raymond Ground, Pokhran Road No 1, Thane West, the expo will connect investors and home-buyers with Thane's leading real estate developers. Jitendra Mehta, President of CREDAI MCHI Thane, emphasized Thane's growth potential, showcasing it as a well-planned, green, and self-sustaining city offering diverse real estate options. The expo aims to demonstrate Thane's evolution into a global city, highlighting its excellent residential and commercial offerings.Read more

Thane-based real estate brand Vihang Group has achieved a remarkable feat by selling 200 apartments in its newly launched ‘Capital of Thane’ project within just 10 days, generating a revenue exceeding INR 150 crores. The success underscores the strong demand for residential properties along Thane's Ghodbunder Road. With an ambitious investment plan of INR 850 crores this year, Vihang Group aims to launch three more projects in the same micro-market. It is projecting an estimated sales potential of INR 2000 crores and anticipating a steady increase in expenditures over the next five years.Read more

The Runwal Group has launched 'Runwal Garden City,' a 250+ acre mega township project in Dombivli (E), featuring 250+ amenities including gardens, clubhouses, parks, and cricket grounds. Strategically located near key infrastructural developments like the Airoli-Katai Tunnel and Navi Mumbai Airport, the project offers seamless connectivity. Managing Director Subodh Runwal highlights the project's focus on lifestyle, with amenities catering to all age groups, extensive green spaces, and community-centric design. The township includes schools, retail spaces, and office areas, aiming to elevate Dombivli as a sought-after destination. The project reflects Runwal Group's commitment to holistic urban living and sustainability.Read more

Ashwin Sheth Group launches "FERN'' at Sheth Vasant Lawns in Thane, the ninth tower of the esteemed project spanning 7 acres. Featuring 2, 3, and 4 BHK residences, including Jodi apartments, FERN offers apartments starting from 840 sq. ft at INR 1.57 crore onwards. With only four apartments per floor, Vastu Compliance, and scenic views of Yeoor Hills, FERN epitomizes luxury living. Thane has emerged as a sought-after location for homebuyers, boasting connectivity to Mumbai and witnessing a rise in property demand. With 25+ amenities, proximity to Viviana Mall, Jupiter Hospital, and esteemed educational institutions, FERN promises an unparalleled urban lifestyle in Thane's Platinum Belt.Read more

Thane's Vihang Group recently achieved a milestone with Thane Municipal Corporation's approval for a massive three million square feet, marking one of the largest single approvals for non-township development. The group also secured Occupancy Certificates for 2.5 million square feet across Ghodbunder Road projects in the same fiscal year. With plans for four projects, including "Capital of Thane," the group anticipates a revenue potential of Rs 2,000 crore. Funding these endeavours through equity, bank loans, and customer advances, Vihang Group has earmarked Rs 2,500 Crore for the next five years, focusing on Kasarvadavli and Bhayander micro markets.Read more