By Ayushi Ashar
Nestled in the Eastern Mumbai Metropolitan Region (MMR), the Mulund-Thane Corridor (MTC), also known locally as Shree Nagar, is fast becoming a popular area for growth and prosperity. This approximately 5 km route from SG Brave Road in Shree Nagar to Mulund via LBS Marg is bordered by the picturesque Yogi Hills, offering a unique blend of nature and city life that is increasingly attracting residents and investors alike. Ensconced between the verdant expanses of Sanjay Gandhi National Park, the commercial prospects of Wagle Estate, the allure of Mulund, and the City of Lakes, Thane, inhabitants and enterprises who are quick to seize this valley’s limited supply to be offered here will reap a windfall.Traditionally seen as an extension of Wagle Estate, the MTC has grown into a residential haven that promises both comfort and convenience. Shree Nagar is poised to be the next hotspot for real estate and infrastructural development. This pristine new market, brimming with opportunities, offers a complete lifestyle for its new citizens.
The strategic location of MTC adds a layer of appeal, with Wagle Estate just a 2-minute drive away. This business hub hosts over 1000 businesses and around 15 million sq. ft. of office spaces, providing ample employment opportunities to the community. Commuting is made easy with Mulund and Thane stations, located just 2.7 km and 4 km away, respectively.
MTC is also a focal point of multiple infrastructure initiatives taken up by the government and is preparing for a promising future with significant projects in the pipeline. These include the Thane Bypass Road, which will connect Shree Nagar to Ghodbunder Road, and the Twin Tube Tunnel, which will connect Thane and Borivali. These initiatives are expected to stimulate further growth and boost property values in the area.
Education is a top priority in MTC, as evidenced by the presence of Thane’s first international school, Finland International School (formerly Billabong High International School). This institution offers world-class education right at the doorstep of MTC’s residents, making it an ideal location for families seeking top-notch educational opportunities for their children. The International School provides various curricula, including ICSE, IGCSE, CBSE, CAIE, and IB, catering to diverse learning needs and preferences.
Shopping and entertainment options abound with several prominent destinations in Mulund and Thane, which offers a mix of retail stores, luxury brands, and dining experiences. Such amenities enrich the lifestyle of MTC’s residents, making it a highly desirable location for those seeking a balanced and vibrant living environment. The upcoming project in the area underscores the growing interest and confidence in MTC’s real estate market, marking it a prime spot for residential and commercial development.
The real estate market in MTC is witnessing a robust Compound Annual Growth Rate (CAGR) of 10% year on year, making it an attractive investment opportunity. The area offers various housing options, catering to multiple tastes and budgets. In summary, the Mulund-Thane Corridor is transforming into one of the fastest-evolving micro markets in the MMR. With its serene environment, strategic location, and expanding infrastructure, MTC stands out as a compelling destination for those looking to thrive in Eastern Mumbai.
Ayushi Ashar is Director at Ashar Group & Member of Managing Committee of MCHI-CREDAI
Also Read: Amazon to pay Rs 1.4k Crore rent over 15 years for a data center in Thane
