Why Majiwada is Perfect for First-Time Homebuyers in Thane

Majiwada is nestled in the heart of Thane and has evolved into a mainstream location for first-time buyers who prefer a blend of urban amenities, convenience, and affordability. The area is strategically positioned and offers excellent connectivity in one of the rapidly developing neighbourhoods in the city. It offers an ideal balance between calm surroundings and city life for homebuyers.

Majiwada, Thane also presents a lucrative investment opportunity for making long-term investments and offers a comfortable living experience. This blog post will familiarise you with the lifestyle of homebuyers Majiwada Thane and highlight the key factors that make it unique.

Property Options

Majiwada is famous for its evolving infrastructure, connectivity to Eastern Express Highway and easy accessibility to social amenities. Given below are some of the property options normally found in Majiwada:

• Residential Flats: In Majiwada, residential apartments typically range from 1 BHK to 3 BHK and comprise various elite and mid-range projects. Property rates can vary, but one can expect a price range of around Rs.60 lakh to 70 lakh for a 1 BHK flat, whereas 2 BHK apartments fall between Rs.80 lakh to 1.5 crore, according to the floor plans and project.
• Gated Communities: Majiwada has various gated communities providing amenities like swimming pools, gyms and landscaped gardens. These communities typically come with a higher price range but also offer a comprehensive range of facilities.
• Commercial Projects: Majiwada lies in proximity to important commercial spaces like Thane, and its accessibility to various other parts of Mumbai makes it a great location for setting up retail outlets and offices. The price of commercial properties differs according to the development type and area.

Read Also: Checklist To Consider Before Buying a Property in Thane – Rustomjee Blog

Financial Planning

If you are a first-time homebuyer around Majiwada, Thane, planning out your finances is crucial to facilitate a rational investment choice while handling your funds effectively. An overview of conducting financial planning in a lucrative manner is given below:

• Evaluate Your Present Financial Situation: It is important to assess your total household income like business income, salaries and so on. Thereafter, monthly expenses can be tracked to determine your savings.

Also, assess any current debts like credit cards and loans, as this will have an impact on your home loan eligibility.

• Draft a Budget For the Home Purchase: According to your income and savings, determine a budget that does not lead to a strain on your existing finances. A well-structured framework is that your home loan EMI does not exceed thirty to forty per cent of your total income.

It is recommended that you save a minimum of 20% of the property value for making a down payment as this will let you secure better home loan terms. Alongside, you can include extra costs like registration fees, home insurance, stamp duty and other furnishing or renovation charges.

• Know About Available Home Loan Options: Generally, lenders provide loans of up to 80 to 90 per cent of the property value. This criteria is based on your income, credit score and other related aspects. Comparing home loan interest rates from different banks and financial institutions can go a long way to smoothen the process, as even a minor difference in interest rates can have a significant impact on your EMI.

Longer durations tend to bring down EMIs but can lead to high-interest payments over time. Hence, you can create a balance that can align well with your budget.

• Assess Property Location and Growth Potential: Consider researching present property rates in Majiwada, as the value can appreciate over time. As it is a developing area, getting an understanding of aspects that will influence the rise in property value can be beneficial.

Also, look out for upcoming infrastructure projects like road improvements, metro and emerging commercial spaces which can impact the area’s property value.

• Contingency Fund and Risk Management: It is important to have emergency funds in place before making a home purchase so that unforeseen expenses can be covered. You can get home insurance to remain protected against risks, natural calamities or fire.
• Tax Planning: Under Section 80C and Section 24 (b) of the Income Tax Act, you can claim deductions on home loan principal repayment of up to Rs.1.5 lakh and interest of Rs.2 lakh. Few states offer stamp duty discounts to first-time homebuyers, so check if there are any applicable offers in Majiwada or Thane.
• Plan For Future Needs: While planning for your finances, consider maintenance charges, utilities and property taxes as these can accumulate to your total monthly expenses.

Social Infrastructure

Majiwada, Thane, has witnessed immense developments in social infrastructure in the last few years, thus emerging as an attractive spot for residents and homebuyers. Here’s an overview:

• Banks and ATMs: Various top banks like HDFC, SBI, ICICI and Axis Bank have their branches and ATMs located in and around Majiwada.
• Safety and Security: Majiwada is considered a secure area, with a growing presence of residential apartments and gated communities.
• Civic Amenities: The Thane Municipal Corporation ensures the maintenance of all necessities, such as sewage systems, water supply, and parks and roads.

To sum up, Majiwada offers a well-rounded social infrastructure, which makes it a safe area to reside in, particularly for families.

Investment Potential

Rustomjee is a reputed developer with various projects in Majiwada and Thane. Projects like Rustomjee Thane, Rustomjee Majiwada and Rustomjee Verdant Vistas offer unique amenities and brilliant opportunities for investors. Let’s see how:

• Rustomjee Thane is located at the heart of the area and is a desirable project offering quick connectivity to Mumbai and Thane. Being located in a prime area, Rustomjee Thane promises a good appreciation scope, particularly for long-term investors.
• Rustomjee Majiwada is situated between Thane West and Ghodbunder Road and is near the upcoming metro stations and key parts of Mumbai, Navi Mumbai, and Thane. If you are seeking an affordable project offering good investment potential, Rustomjee Majiwada can be a solid choice for you.
• Rustomjee Verdant Vistas is located near the luscious Upvan Lake and offers a tranquil living space, perfect for those who wish to stay connected to urban conveniences whilst seeking peace. Hence, Rustomjee Verdant Vistas can be the right place for you if you are looking for both exclusivity and luxury in a single place.

Read Also: Is Thane a Good Place to Live? Discover the Top Benefits of Living in Thane Near Mumbai

Conclusion

Majiwada ticks all the boxes for first-time homebuyers in the heart of Thane. The area is in a prime location and offers quick access to main business spots. Also, the emerging infrastructure has made it a favourite among those who wish to derive convenience and value from their investments.

For homebuyers, Majiwada Thane can present an excellent opportunity for a safe and bright future. You can explore a wide range of premium residential properties like Verdant Vistas, developed by Rustomjee, derive expert insights and get personalised guidance to help you make the best investment decision.

FAQs

• Which are the best areas for first-time buyers?

Areas like Kolshet Road, Ghodbunder Road, and Majiwada can be excellent choices for first-time homebuyers in Thane. These areas provide the right balance of good connectivity, proximity to important commercial spaces and affordability, making them perfect for new homeowners.

• What documents do first-time buyers need?

Normally, first-time buyers require documents like identity proof (PAN, Aadhar), income proof (ITR, salary slips), property-related documents (title certificate, sale deed), address proof (rental agreement, utility bill) and a home loan sanction if applicable. It is important to have these documents in place as and when needed to facilitate a smooth processing experience.

• Are there good rental options?

Yes. Majiwada’s growing residential projects provide many good rental choices. You can find 1 and 2-BHK flats in a price range of Rs.18,000 to Rs.30,000 per month, depending on the amenities offered and property location.

• How is the resale value?

In Majiwada, the resale price is strong because of its rapid development prospects, prime location, and blooming infrastructure. There is an increase in demand observed from investors and homebuyers, so properties located in this area tend to appreciate well over time which makes it a lucrative investment for the long term.