Thane's Property Market Booms with 36% Price Surge in Three Years
Thane, a key city in the Mumbai Metropolitan Region (MMR), has seen a 36% increase in property prices over the past three years, driven by significant infrastructure projects and growing developer activity.
Property PricesReal EstateThaneInfrastructure ProjectsMmrReal EstateJul 17, 2025
The report highlighted that the city has seen property prices surge by 36 per cent over the past three years. This growth is attributed to the real estate sector benefiting from upcoming infrastructure projects worth Rs 59,000 crore, including the upcoming metro lines, the Thane-Borivali tunnel, and the Thane-Navi Mumbai elevated corridor.
The strategic location of the city and improving connectivity to key commercial hubs in Mumbai have further contributed to a notable shift in buyer preference toward Thane. The report also stated that two-bedroom-hall-kitchen (BHK) units dominate the supply, reflecting the needs of nuclear families and young professionals.
Thane’s 2BHK apartments account for 45 per cent of the supply, followed by 1BHKs at 42 per cent. The preferred price bracket is between Rs 80 lakh and Rs 1.6 crore, with this segment alone comprising 44 per cent of the city’s residential supply, the report mentioned.
The rise in Grade-A developer activity—now contributing to 47% of total housing supply—has significantly boosted buyer confidence. The availability of larger land parcels has also opened up avenues for integrated townships and high-rise developments, with Thane recording 89 residential towers over 40 floors.
ANAROCK’s data also show that the post-Covid recovery in the sector has been strong: housing supply grew by over 100 per cent between financial year (FY) 2020 and FY 2023, while absorption rose by 78 per cent by FY 2024, reaching 19,600 units.
Among the top five micro-markets, Thane Central, Pokhran Road, Majiwada-Balkum, Kolshet, and Kasarvadavali stand out. Thane Central, the most expensive among them at Rs 23,000 per square feet, caters to buyers in the Rs 1.6 crore to Rs 2-crore range, while Kasarvadavali, on the other end, is an affordable option with average prices around Rs 15,000 per sq ft and a strong share of 1 BHK units.
The report also highlights challenges such as traffic congestion, water supply issues in certain pockets, and the risk of environmental imbalance due to rapid development amid the growth. However, these are offset by opportunities such as redevelopment potential, rising rental demand, and inclusion in the Smart City Mission.
Despite the challenges, Thane's real estate market continues to attract investors and homebuyers, making it a promising area for future development and investment.
Frequently Asked Questions
What is the main reason for the surge in property prices in Thane?
The main reason for the surge in property prices in Thane is the significant infrastructure projects worth Rs 59,000 crore, including the upcoming metro lines, the Thane-Borivali tunnel, and the Thane-Navi Mumbai elevated corridor, which have improved connectivity and attracted more buyers.
What types of housing units are most popular in Thane?
Two-bedroom-hall-kitchen (BHK) units are the most popular in Thane, accounting for 45% of the supply, followed by 1BHKs at 42%. These units cater to the needs of nuclear families and young professionals.
How has the post-Covid recovery in Thane's real estate sector been?
The post-Covid recovery in Thane's real estate sector has been strong, with housing supply growing by over 100% between FY 2020 and FY 2023, and absorption rising by 78% by FY 2024, reaching 19,600 units.
What are some of the challenges facing Thane's real estate market?
Some challenges facing Thane's real estate market include traffic congestion, water supply issues in certain pockets, and the risk of environmental imbalance due to rapid development.
What are the opportunities for Thane's real estate market?
Opportunities for Thane's real estate market include redevelopment potential, rising rental demand, and inclusion in the Smart City Mission, which can further boost the market's growth and appeal.
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