Thane Emerges as Mumbai’s Affordable Real Estate Powerhouse

Thane’s Real Estate Transformation: Mumbai’s Neighbor Takes the Spotlight

Once a quiet suburb, Thane has swiftly evolved into one of the most dynamic real estate markets within the Mumbai Metropolitan Region (MMR). Over just three years, property prices here have surged by 46%, underscoring its growing allure among buyers seeking modern homes at accessible prices.

A recent report by ANAROCK, titled Thane: The Rising Star of MMR Real Estate, highlights this remarkable growth, showing that the average rate in Thane jumped from approximately Rs 13,550 per sq. ft. in Q2 2022 to nearly Rs 19,800 per sq. ft. by June 2025.

Why Smaller Homes Are Taking Center Stage

The housing boom in Thane is driven largely by demand for 1BHK and 2BHK apartments. Nearly 45% of all new supply from 2020 to 2025 consists of 2BHK units, with 1BHKs closely following at 42%. Larger family homes such as 3BHKs and 4BHKs make up only about 13% of new developments.

Buyers particularly gravitate toward homes priced between Rs 80 lakh and Rs 1.6 crore, which offer a balanced combination of affordability and lifestyle.

“Affordability is the main draw for people choosing Thane,” explains Aayush Puri, Head of ANAROCK Channel Partners (ACP) and ANACITY.

He adds: "Homes in Thane are nearly 78% cheaper than comparable units in Mumbai suburbs."

To illustrate, a typical 2BHK of 650 sq. ft. carpet area costs around Rs 1.25 crore in Thane, while an equivalent property in Mumbai’s core areas can easily top Rs 2 crore in central suburbs, and nearly Rs 2.4 crore in the western regions—not including GST or registration fees.

Vertical Growth: Shaping Thane’s Skyline

With land becoming scarce, Thane’s developers are taking the vertical route. The city now boasts 89 residential towers exceeding 40 floors, a testament to the shift towards maximizing space by building upwards. Nearly 47% of these projects come from Grade A developers, ensuring quality and trust for homebuyers seeking promising investments.

Neighborhoods That Shine

• Panchpakhadi and Naupada in Thane Central
• Pokhran Road
• Majiwada-Balkum
• Kolshet Road
• Kasarvadavali

These areas benefit from excellent connectivity, robust social infrastructure, and ongoing projects by renowned builders.

With demand for affordable yet modern homes rising steadily, Thane’s real estate market appears poised for sustained growth—offering a compelling alternative to Mumbai’s often expensive housing landscape.