Prashant Thakur, Head – Research, ANAROCK Property Consultants
Vartak Nagar is a residential suburb in Thane once known largely for its tapered roads and deplorable infrastructure. The residential market was predominantly defined by low-rise developments that housed industrial workers from the nearby manufacturing units.
Today, with the rapid urbanization of Thane and its surrounding precincts, Vartak Nagar has witnessed a significant upgrade in terms of 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 drivers of consistent real estate growth in Vartak Nagar.
Moreover, it still has an abundant supply of land parcels (primarily through the redevelopment model) available at competitive prices. This is a major draw for developers of residential projects since the lower land prices allow them to sell their properties at attractive rates.