Upsurge in development projects at Ghodbunder Road.Posted on : 12 Apr, 2012
The 20km long Ghodbunder road runs through Thane district is state highway no42 has upsurge with the severaldevelopment projects. The highway connects the Eastern Express Highway and the Western Express Highway, becomes hub of development projects.
In that particular area both the realty segment residential as well as commercial projects are under process. According to the market information more than 5million sq ft is under construction especially residential projectsration is more comparatively commercial projects. Though, schools, colleges, hospitals, banks are coming while some restaurants and entertainment hubs are about to start in malls. The big names of realty sector is taking interest in this area such as Cosmos Group, Everest Group, Hiranandani Group of Companies, Kalpataru Group, Raheja Developers, Prescon Developers are coming out with the several new residential as well as commercial projects.
The market reports said that, the average unit capital values at Ghodbunder road is about Rs 5400 per sq ft. The values have gone up by 20% in the last one year from Rs 4,400 per sq ft in June 2011 to Rs 5,400 per sq ft. whereas, in the current scenario there is little investor-driven activity and the prices are stabilising. As far as office space concern value ranging from Rs 110-120 per sq ft, amongst these most of the offices are small in size for about 500 sq ft.
SOURCE: Accommodation Times.