Why Thane's Vartak Nagar can be rising star of Mumbai Metropolitan Region

Vartak Nagar is a residential suburb in Thane once known mainly for its bad roads and poor infrastructure. The residential market was predominantly defined by low-rise developments that housed industrial worker from the nearby manufacturing units.

Today, with the rapid urbanisation of Thane and its surrounding precincts, Vartak Nagar has witnessed a significant upgrade in both civic and social infrastructure, and its revamped market profiling has turned it into a promising real estate destination in the Mumbai Metropolitan Region (MMR). It now has excellent road connectivity to the central and western suburbs via the Eastern Expressway and Western Express Highway (via Ghodbunder road), respectively. Vartak Nagar is also well-connected through an established rail network.

Its proximity to the serene Upvan lake and exquisite view of the scenic Yeoor hills have become the major driver of consistent realty growth in Vartak Nagar. Moreover, it still has an abundant supply of land parcels (primarily through the redevelopment) available at competitive prices. This is a major draw for developer since the lower land prices allow them to sell their properties at attractive rates.

Vartak Nagar has several unique features. It is a well-developed region, strategically located in the core areas of Thane (4.5 km from Thane railway station), has direct access to the Eastern Expressway and Ghodbunder Road, and is close to the commercial establishments of Wagle Estate. Numerous office and commercial developments exist in the adjoining areas, and it has an excellent social infrastructure with malls, schools and hospitals close at hand. 

Vartak Nagar has a plethora of residential projects with a wide range of options for homebuyer. Puranik Builder’s landmark project Grand Central, enticingly juxtaposed to the Eastern Expressway, is one of the prominent ongoing housing projects in Vartak Nagar. Besides Puranik, developers such as Jagdale Group, Puneet Group, Hubtown and Saaga Infra Projects also have ongoing projects in Vartak Nagar. 

While the average quoted prices of properties in Vartak Nagar are gradually rising on the back of sustained demand from budget home seekers, they currently still range quite affordably between Rs 9,000 a sq ft and Rs 13,000 a sq ft.  

The writer is head – research, ANAROCK Property Consultants