Average Home Prices in Thane Up 46% in Last 3 Years, 2BHKs Dominate New Supply
- Residential prices in Thane
stand at INR 19,800 per sq. ft. as of Q2 2025-end, against INR 13,550 per
sq. ft. in Q2 2022
- 2BHKs comprise approx. 45%
of overall new supply b/w FY 2020 and FY 2025; 42% is 1BHKs (strong demand
for smaller homes); 3BHK share - 11%, 4BHKs - just 2%; dominant budget
range - INR 80 lakh to INR 1.6 Cr
- Thane’s skyline now has 89
residential skyscrapers of 40+ floors: vertical growth imperative amid
reducing land availability
- Thane housing market
significantly changed b/w FY 2020 & FY 2025; post-COVID-19, new supply
rose approx. 103% in FY 2023 over FY 2020; absorption rose approx. 78% in
FY 2024 vis-Ã -vis FY 2020
- 47% supply share by Grade A
developers, leading to high confidence & demand
- Top 5 micro markets based on
highest new supply - Panchpakhadi & Naupada (Thane Central), Pokhran
Road, Majiwada-Balkum, Kolshet Road & Kasarvadavali
Mumbai,
17th July 2025: Thane, once seen as a supporting suburb, now headlines the
Mumbai Metropolitan Region residential real estate revolution, riding on rapid
infrastructure upgrades, surging buyer interest, and a hot housing market. A
report by ANAROCK titled ‘Thane: The Rising Star of MMR Real
Estate’ highlights the city’s explosive housing price
growth – a whopping 46% leap in average residential prices in just
three years, from INR 13,550/sq. ft. in Q2 2022 to INR 19,800/sq. ft. in Q2
2025.
Aayush
Puri, Head – ANAROCK Channel Partners (ACP) & ANACITY, points out that prices in
Thane have rocketed up 60% since 2020, when the average was around INR
12,400 per sq. ft. “Thane is not just a hot residential destination - it
has also played a key role in redefining the MMR housing landscape. “Thane’s
steady capital values growth has largely been fuelled by infrastructure
upgrades that have ignited homebuyer interest. Demand for under-construction
homes outperforms ready-to-move-in units in 2025 so far, largely because the
city offers luxury homes at relatively affordable prices in contrast to
Mumbai’s prime markets.”
A total
of 65,800 units were launched in Thane between FY 2020 to FY 2025, finds the
report. Nearly 45% of the overall new supply in this period comprises of
2BHKs, followed by 42% of 1BHKs. 3BHKs comprise a 11% share, and
4BHKs just 2%.
“Affordability
is a major keyword in Thane’s housing market,” says Aayush Puri. “We are seeing
a strong market inclination towards smaller residential units. On that front, Thane
is at least 78% more affordable than suburban Mumbai. For instance, a 2BHK
home with an average carpet area of 650 sq. ft. costs about INR 1.25 Cr, while
in Mumbai’s central suburbs it will cost around INR 2.11 Cr. In the western
suburbs, it goes as high as INR 2.36 Cr – and this is just the BSP, not
factoring in GST, registration, and other charges.”
Amid core
Mumbai’s skyrocketing property values, Thane is increasingly becoming the
destination of choice for homebuyers and investors seeking better value without
compromising on quality. The report adds that Thane’s residential skyline currently
boasts of 89 skyscrapers of 40+ floors, mirroring the land scarcity-driven
vertical growth imperative of Mumbai City.
There
have been some notable changes on the Thane real estate market, finds the
report. Between COVID-struck FY 2020 and FY 2025, FY 2023 saw new housing
supply there grow by almost 103% when compared to FY 2020, while absorption
rose a dizzying 78% - to 19,600 units in FY 2024 from FY 2020. In Q1FY 2026,
Thane saw approx. 3,130 residential units sold, while new supply stood at 2,910
units.
Other Report Highlights:
- Panchpakhadi and Naupada in
Thane Central, Pokhran Road, Majiwada-Balkum, Kolshet Road and
Kasarvadavali are the top five micro-markets based on maximum new supply.
47% of the new supply being delivered by Grade A developers
- Around 44% of Thane’s
residential supply is in the INR 80 lakh to INR 1.6 Cr. budget segment,
which will likely dominate the market going forward given the prevailing
capital value trends in the region
- Thane, being in the heart of
MMR, is assured of sustained growth real estate growth thanks to
large-scale planned and ongoing infrastructure enhancements worth INR
59,000 Cr
Download
the report Thane: The Rising Star of MMR Real
Estate
