[ecis2016.org] Shahapur, a town in Thane district near Mumbai, is catching the eye of many investors. It has the potential to emerge as one of the most desirable residential destinations in Mumbai’s periphery
As per a recent study, most new launches in the Mumbai Metropolitan Region (MMR) were in the peripheral areas and accounted for 56% of total new launches. Shahapur, the largest Taluka in the Thane District, is surrounded by the mountain ranges of the Western Ghats. The government of Maharashtra has declared Shahapur a centre for tourism as this town attracts a lot of tourists for places like Mahuli Fort, Aajoba Parvat and Manas Mandir. It has four major dams, namely Bhatsa, Tansa, Modak Sagar and Vaitarna. Shahapur supplies almost 2,900 mega litres of water per day to Mumbai. Therefore, the town is also declared as a ‘No Chemical Zone’ by the government. Shahapur is located between the triangle of Mumbai, Nashik and Pune and it also falls under the Delhi-Mumbai Industrial Corridor.
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Under this scheme, Igatpuri-Nashik-Sinnar Investment Region (INSIR) has been identified as an industrial zone and Shahapur is the nearest residential area. The industrial growth, along with the tourism business, has contributed immensely towards the growth of real estate in Shahapur. The top builders in Shahapur are Poddar Housing, Karrm Infrastructure, VMC Developers and Realtors, who have launched several mid-range and luxury projects. The apartments in Shahapur overlooking the picturesque scenic beauty are mostly new constructions and equipped with amenities like community hall, fitness club, swimming pool, landscaped gardens, jogging tracks, etc. 1, 2 and 3-BHK flats for sale in Shahapur are readily available. Apart from buildings, there is availability of independent houses in Shahapur. Nearby localities in Shahapur are Asangaon and Atgaon.
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Connectivity with nearby Shahapur localities
- The distance from Mumbai is approximately 73 kilometres via the Eastern Express Highway/Mumbai-Agra National Highway and NH-160.
- The Chhatrapati Shivaji Maharaj International Airport is around 80 kilometres away, via NH-160.
- Asangaon and Atgaon railway stations are both within a 5-kilometre radius of Shahapur. Apart from this, there are 5 other railway stations that connect Shahapur to different parts of the state.
- The major bus station in this area is Shahapur bus station.
Employment hubs near Shahapur
- Shahapur is a renowned holiday destination and therefore, tourism is a major industry in this area.
- The other important industries in this area are Jindal Steel, Liberty Oil and Oswal Industrial Estates, on the Mumbai-Nashik Highway.
- Shahapur is approximately 40 kilometres away from the Igatpuri-Nashik-Sinnar Investment Region (INSIR) which is identified as an industrial zone by DMICDC.
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Shahapur offers average social amenities. The schools in Shahapur include the GV Khade Vidyalaya and Zilla Parishad School, Mundhewadi. Leading hospitals in Shahapur include the Prakruti Maternity and General Hospital and Deep Smruti Nursing Home. Popular malls in Shahapur include the Metro Junction Mall and Kabadi Plaza, to name a few.
Physical infrastructure in Shahapur
- A new 8-lane highway is being constructed between Mumbai and Nashik that will enhance the connectivity of Shahapur further.
- The real estate in Shahapur is growing at a rapid pace, with at least one new project coming up in 4 months.
- An upcoming luxury project in this area is Royale City by the Royale Lifespace LLP builders.
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Price trends in Shahapur
Property prices in Shahapur are in the range of Rs 1,000 per sq ft to Rs 8,250 per sq ft. On an average, you would be able to see many properties that are priced around Rs 3,035 per sq ft. There are plenty of residential plots, villas and apartments in 1RK, 1BHK and 2BHK configurations, available for sale.
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Reasons to invest in Shahapur
The price trends in Shahapur indicate that the area offers a price appreciation of almost 25% in recent times. The town is increasingly becoming urbanised but the social infrastructure is not at par with the industrial and real estate growth of Shahapur. However, it is definitely a good idea to invest in Shahapur, as it has price appreciation prospects. Shahapur has complete potential to emerge as twin city to Nashik or Mumbai.
FAQ
What is YoY growth in property rates in Shahapur?
Property prices in Shahapur, beyond Thane, have been fairly stable over the last one year with the current average being Rs 3,000 per sq ft.
How is the rental market in Shahapur?
Shahapur does not have a very developed rental market. However, in the mid to long-term, with infrastructure developing and with the remote working culture growing, young professionals may find the area attractive.
What are the pros and cons of investing in Shahapur?
If you are looking to invest in a neat, clean and pollution-free area at affordable prices, Shahapur may work for you. However, the social and physical infrastructure still has not reached maturity.
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
