A few years ago, Shahapur in Thane district was primarily known as a second-home destination. But now, affordable property prices are turning this area into a first-home destination as well, with many homebuyers and developers making a beeline to this area. We list 4 reasons why Shahapur is emerging as a new property hotspot in the Mumbai Metropolitan Region (MMR).
1) It is affordable
Shahapur in Thane is only beginning to see buyer and investor interest coming in and so property prices here are still quite affordable. Data from real estate research agency Liases Foras shows average price at around Rs. 2,280 per sq. feet, making it much cheaper than other regions in the MMR. A homebuyer may actually be able to buy a home here for under Rs 20 Lakhs, an amount that would not be possible anywhere else in the region.
2) Connectivity is good
With the coming up of the Nashik highway, road connectivity to Shahapur has improved a lot, ensuring a seamless commute to Mumbai. The suburban rail network is also good here, thanks to Shahapur being nestled between two important stations – Asangaon and Atagaon, both of which are on the central line. And while the frequency is quite good already, the government plants to increasing it in the near future, making commuting here a lot easier.
3) You will be spoilt for choice
Shahapur’s growing clout as a property hotspot has already drawn a lot of builders to this region. The area is filled with under-construction projects and banners advertising new projects. Reputed developers like Poddar Housing, Karrm Infrastructure among others, have already launched their projects here, some of which include self-contained townships.
4) Job hubs are close by
Thanks to industrial activity in Nashik and Bhiwandi rising, the demand for skilled labour has gone up. And Shahapur is the closest affordable property market for people looking at investing in a home, close to these job hubs. However, social infrastructure in the area is still not good and experts are hoping that the rising number of townships in Shahapur will solve that problem eventually.
Edited by Nikhil Narayan Sivadas