The year bid a positive farewell, Thane, as many infrastructure projects reached to the end point of their construction this quarter. This made the buyers and investors to turn their focus on Thane’s real estate market. When selling transactions slowed down due to demonetization, the rental market took a huge hike. The rental yield of the city rose marginally by almost 0.02%.
Property owners and investors took the bait and earned during this phase. Many reports of flats in Thane taking a huge rental price jump came. Among the various locations of Thane that have shown a high growth in rental yield in the past nine months, Kalwa stood on the top of the list with 13.7 percent growth, Kalwa was then followed by Kolshet Road with 12.6 percent, and then Patlipada with 12.4 percent.
These rises in rental prices indicate that people are ready to spend more for a perfect living; slowly but still increasing the margins. There has been a major rise in the records of State registrations and stamp department in Thane district regarding the registration of leave and license documentations.
According to a survey, the luxury flats on rent in Thane, costing Rs 11, 000 per sq ft and above saw the highest price rise.