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Mumbai Metropolitan Region's Real Estate Shift: Thane Loses Its Crown to Panvel and Beyond

Published: November 11, 2025 | Category: Real Estate Mumbai
Mumbai Metropolitan Region's Real Estate Shift: Thane Loses Its Crown to Panvel and Beyond

Buyers Changing Their Direction. |

Mumbai: The real estate map of the Mumbai Metropolitan Region (MMR) is being redrawn. Once the undisputed satellite city, Thane is now witnessing competition from new and emerging corridors. According to real estate consultancy Proptiger, homebuyers’ attention is swiftly shifting toward 'Beyond Thane' and 'Panvel & Beyond' — regions that promise better value, infrastructure, and connectivity.

Rising Stars: Kalyan, Dombivli, Ambernath, and Panvel

The 'Beyond Thane' belt covers areas like Kalyan, Dombivli, Ambernath, and Badlapur, while 'Panvel & Beyond' includes Panvel, Khopoli, and Rasayani. These pockets are gaining prominence due to affordability and rapid infrastructure upgrades. Unlike Thane’s saturated market, these regions offer larger land parcels for integrated townships and new housing projects.

Panvel Takes the Lead

Reports show that Navi Mumbai — including Panvel — accounted for nearly 39 percent of all new residential launches in Q3 2025. Mega infrastructure projects such as the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Metro, and the upcoming International Airport have turned Panvel into the region’s most sought-after investment zone. Property prices in the mid-segment here surged 27 percent year-on-year — the highest across MMR.

Thane Slows, New Corridors Surge

While Thane’s mid-segment prices also grew by 20 percent, developers are now betting big on these newer growth zones. Proptiger notes a 7.1 percent jump in new project supply from Q2 to Q3 2025, signaling high developer confidence. Big names like Raymond Realty are investing Rs 14,000 crore in expansion, much of it directed toward these emerging belts.

The New Growth Engine of MMR

With rising housing demand and massive connectivity projects, it’s becoming clear that MMR’s real estate power is shifting. The question remains — can Thane reclaim its throne, or has Panvel already emerged as the new 'Real Estate King' of Mumbai’s future?

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Frequently Asked Questions

1. What is the 'Beyond Thane' belt in the Mumbai Metropolitan Region?
The 'Beyond Thane' belt covers areas like Kalyan, Dombivli, Ambernath, and Badlapur. These regions are gaining prominence due to their affordability and rapid infrastructure upgrades.
2. Why are homebuyers and developers shifting their focus from Thane to Panvel and other emerging corridors?
Homebuyers and developers are shifting their focus due to the better value, infrastructure, and connectivity offered by these new regions. Thane’s market is saturated, while these areas offer larger land parcels for new housing projects and integrated townships.
3. What are the major infrastructure projects boosting Panvel's real estate market?
Major infrastructure projects boosting Panvel's real estate market include the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Metro, and the upcoming International Airport.
4. How much did property prices in the mid-segment of Panvel increase year-on-year?
Property prices in the mid-segment of Panvel increased by 27 percent year-on-year, which is the highest across the Mumbai Metropolitan Region (MMR).
5. What is the significance of the shift in real estate focus from Thane to these emerging corridors?
The shift in real estate focus signifies a new growth engine for the Mumbai Metropolitan Region (MMR). These emerging corridors are becoming the new hotspots for investment due to their potential for development and connectivity, potentially reshaping the real estate landscape of the region.