Unsold housing inventory declines 18% as residential prices rise 33% between 2021 and 2026; changing buyer preferences and developer dynamics signal a maturing residential market.
Majiwade, one of Thane’s established residential destinations, is witnessing an evolution in its housing market, with buyers aged 25–45 accounting for 62% of registered residential units in 2026, according to the latest Majiwade Market Research Report – October 2026 by CRE Matrix. The report highlights changing housing preferences, improving inventory absorption and a shifting competitive landscape among developers, as the micro-market records changes in residential market activity. In the report’s buyer-age profile (measured as a share of registered units), buyers aged 35–45 account for 34% in 2026, followed by the 25–35 age group at 28%. The concentration of buyers within these age brackets highlights the importance of working-age households in Majiwade’s residential market.
Housing inventory declines as market absorption improves
Unsold residential inventory declined approximately 18%, from 5,641 homes in Q3 2024 to 4,644 homes in Q2 2026, a reduction of nearly 1,000 units. Inventory overhang also reduced from 17 quarters in Q1 2025 to 13 quarters by Q2 2026, signalling an improvement in the relationship between available housing stock and the pace of registrations. Across Majiwade, the report identifies 13,227 units in 34 RERA-registered projects since 2018; 8,061 of these units are under construction. These figures cover the wider micro-market, not any individual developer.
A changing developer landscape in Majiwade
Beyond homebuyer preferences, the report identifies a notable transition in the micro-market’s competitive developer landscape. Developer contributions to registrations have shifted as earlier projects were largely sold through and new active developments contributed to transaction volumes. Lodha Group, which accounted for 42.9% of residential registrations during 2018–23, saw its share stand at 4.3% during 2024–26.
Over the same periods, Rustomjee’s share increased from 26.0% to 33.8%, making it the largest contributor to registrations in the recent period, while Ashar Group rose from 3.3% to 20.9%. Together, Rustomjee and Ashar Group accounted for approximately 55% of registrations during 2024–26. The study also points to differences in price positioning. In 2026 year-to-date, Rustomjee accounted for 32% of registered homes but 42% of registered residential transaction value, reflecting a comparatively higher contribution from the higher-priced housing segment. These shifts illustrate how the competitive landscape is evolving across development cycles.
Residential prices appreciate 33% between 2021 and 2026
Majiwade’s weighted average residential price increased from Rs 14,904 per sq. ft. in 2021 to Rs 19,861 per sq. ft. in 2026, representing 33.3% appreciation. It maintained a pricing premium over the broader Thane City market in nine of the ten quarters between Q1 2024 and Q2 2026.
Under CRE Matrix’s base-case scenario, average residential prices could reach Rs 24,600– Rs 25,550 per sq. ft. by 2030, subject to market conditions and the progress of infrastructure improvements. Abhishek Kiran Gupta (AKG), CEO, CRE Matrix, said: “Majiwade’s residential market is showing a measurable shift in its buyer profile and the pace of inventory absorption. The report’s registration-based age profile shows that buyers aged 25–45 account for 62% of registered units in 2026, while unsold inventory has declined 18% from its Q3 2024 peak. The changing developer landscape is equally notable. Rustomjee recorded the largest share of Majiwade registrations during 2024–26, at 33.8%. In 2026 year-to-date, its 42% share of registered transaction value compared with 32% by volume is consistent with a greater presence in the higher-priced segment. These are market-wide comparisons, not figures for any one project. Together, the trends point to a market where the mix of active developments and buyer demand warrants close attention. Future performance will depend on actual registrations, pricing and the pace of new supply.”
