November 12, 2025: The real estate landscape of the Mumbai Metropolitan Region (MMR) is undergoing a dramatic shift. Once the undisputed leader, Thane is now facing strong competition from fast-emerging hubs like Panvel, Kalyan, Dombivli, and Ambernath, driven by better infrastructure, new connectivity corridors, and greater housing affordability.
According to Proptiger, homebuyers’ interest is moving rapidly toward the ‘Beyond Thane’ and ‘Panvel & Beyond’ regions — markets offering larger land parcels, modern infrastructure, and stronger long-term investment potential.
The ‘Beyond Thane’ belt includes Kalyan, Dombivli, Ambernath, and Badlapur, while ‘Panvel & Beyond’ covers Panvel, Khopoli, and Rasayani. These areas are witnessing rapid transformation due to upcoming projects such as the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Metro, and the Navi Mumbai International Airport. Notably, Navi Mumbai, including Panvel, accounted for nearly 39% of all new residential launches in Q3 2025.
Panvel’s real estate market has seen the sharpest price rise in the mid-segment — up 27% year-on-year, the highest across the MMR. While Thane recorded a 20% increase, its limited land availability and market saturation have shifted developer focus toward newer corridors.
Proptiger’s data shows a 7.1% quarter-on-quarter increase in new project supply between Q2 and Q3 2025, reflecting growing developer confidence. Prominent players like Raymond Realty have announced expansion plans worth ₹14,000 crore, much of which targets these emerging zones.
With sustained demand, affordable prices, and major infrastructure projects converging, Panvel and its surrounding regions are fast becoming MMR’s new real estate growth engine. As the region’s development map is redrawn, the big question remains — can Thane reclaim its crown, or has Panvel already become Mumbai’s new real estate king?
Source: The Free Press Journal
