July 17, 2025: Once a modest suburb, Thane has now emerged as a frontrunner in the Mumbai Metropolitan Region’s (MMR) real estate surge, fuelled by major infrastructure upgrades and a buoyant housing market. Over the past three years, Thane has witnessed an impressive 46% increase in average residential prices—from Rs 13,550 per sq. ft. in Q2 2022 to Rs 19,800 per sq. ft. in Q2 2025—positioning it as a key player in reshaping the region’s housing landscape.
Reflecting changing buyer preferences, approximately 45% of the new housing supply in Thane between FY2020 and FY2025 comprised 2BHK units, while 1BHKs accounted for 42%, indicating sustained demand for compact and affordable homes. A post-pandemic construction revival also contributed to a 103% rise in new supply in FY2023 compared to FY2020.
“Thane’s capital appreciation is largely driven by robust infrastructure enhancements that have sparked increased homebuyer interest,” said Aayush Puri, Head of ANAROCK Channel Partners. The preference for under-construction properties highlights demand for modern, value-driven housing in contrast to Mumbai’s pricier sub-markets.
Affordability remains a major draw. A 2BHK flat with an average carpet area of 650 sq. ft. costs about Rs 1.25 crore—substantially less than similar homes in Mumbai’s central or western suburbs. Moreover, Thane’s skyline now includes 89 towers with 40 or more storeys, reflecting its vertical growth amidst constrained land availability.
Housing absorption surged by 78% by FY2024, with Grade A developers contributing nearly half the supply. Localities like Panchpakhadi, Naupada, Pokhran Road, Majiwada-Balkum, Kolshet Road, and Kasarvadavali are leading in new launches.
Backed by infrastructure projects worth Rs 59,000 crore and dominated by mid-income homes priced between Rs 80 lakh and Rs 1.6 crore, Thane’s real estate market is expected to sustain its upward trajectory.
Source: Business Today
