Thane Housing Prices Surge 46% In 3 Years, Outpacing MMR On Back Of Infra And Affordability Push

Mumbai: Over the past three years, property prices in Thane has witnessed a sharper rise of nearly 46%. 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 per square ft. in Q2 2022 to INR 19,800 per square 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 Rs 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.”

Like Mumbai, Thane’s real estate market has also seen a rise in participation from A-grade developers, now accounting for nearly 47% of new launches. This has helped build buyer confidence.

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According to real estate developers several infrastructure projects such as the Coastal Road, Thane-Borivali Twin Tunnel Project, and Gaimukh Waterfront are progressing rapidly in Thane. Compared to other areas, projects in Thane are being completed faster.

With increased FSI (Floor Space Index), construction costs have also gone up. Buildings as tall as 40 storeys or more are now coming up in Thane.