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Open spaces emerge as crucial criteria for potential homebuyers

Open spaces emerge as crucial criteria for potential homebuyers

By Lodha 17 December 2020

The right balance between nature and modern infrastructure has inspired people to live in one of the best residential locales in Thane- Kolshet Road. Here is more about the area that may intrigue you.

As we gradually advance towards the 'new normal', owning a home has become paramount. However, there has been a significant alteration in buyer' preferences with emphasis on 'need for green and open spaces'. The prolonged period of lockdown has increased the demand for residential formats that offer the much-needed breathable space that corroborates a healthier lifestyle has surfaced more than ever. Insights from a consumer survey conducted by a research firm highlights that a whopping 81.5 percent respondents consider open spaces a must-have in developments. This changed trend has resulted in a considerable shift in homebuyers' choices and influencing their purchase decisions.

On the back of the rising need for open spaces, especially in crowded cities like Mumbai, people are willing to move away from the city-centres. Moreover, with 'work-from-home' here to stay, people are open to purchasing properties in peripheral areas, as they ensure access to large green spaces, have lower population density, and subsequently provide a sound ecosystem. One such upcoming destination strategically located in the Mumbai Metropolitan Region's (MMR) heart is Thane.

In the last few years, Thane has emerged as one of the most sought-after locations in the backdrop of the rapid infrastructure development and a host of residential choices available across the budget. From Ghodbunder Road to Pokhran Road, Vartak Nagar and Kasarvadavali there are numerous housing options available for buyers. However, Kolshet Road in the northeast remains the most preferred as it renders access to more open spaces and greener expanses as per 64 percent of the participants surveyed. India's largest 20-acre public park, ' The Grand Central Park' has also been planned in Kolshet Road. Besides, the area also promises robust social infrastructure. Some of the Thane's best schools, like C P Goenka International School, Sulochanadevi Singhania and Orchid High School are merely 5-7 minutes away from Kolshet Road. Healthcare centres such as Jupiter Hospital, Betany Hospital and Vedant Hospital are also easily reachable. Besides, residents in the area also enjoy seamless access to retail outlets like Dmart, Big Bazaar and Hypercity. Around 5-10 minutes drive away, these retail stores well-cater to the daily requirements.

In respect to housing options, Kolshet Road encompasses everything a buyer could think of, including villas, condominiums, apartments, independent houses and residential plots. What makes the stretch even more attractive is the presence of numerous reputed developers and quality housing projects. The area also provides excellent connectivity to MMR, situated just five minutes away from the Eastern Express Highway (EEH) and the Ghodbunder Road. The upcoming Thane-Borivali tunnel road, Metro line 4 connecting Wadala to Kasarvadavali and Metro line 5 linking Thane to Bhiwandi and Kalyan would also augment the area's connectivity and propel real estate growth. The upcoming Kapurbawdi metro station is around five minutes away from the area.

Overall, Kolshet Road offers a perfect combination of a green neighbourhood, gated community developments, good connectivity, and ready social infrastructure that acts as a crucial growth driver among residential and commercial investors. 

Authored by Prateek Bhattacharya, President Mid-income and Affordable Housing, Lodha Group

Published in 99acres

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