Average Home Prices in Thane Up 46% in Last 3 Years, 2BHKs Dominate New Supply

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 percent leap in average residential prices in just three years, from Rs. 13,550/sq. ft. in Q2 2022 to Rs. 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 percent 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.”

Also Read: Luxury Real Estate, the new 'gold' in areas beyond Thane

 A total of 65,800 units were launched in Thane between FY 2020 to FY 2025, finds the report. Nearly 45 percent of the overall new supply in this period comprises of 2BHKs, followed by 42 percent of 1BHKs. 3BHKs comprise an 11 percent share, and 4BHKs just 2 percent.

 “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 percent more affordable than suburban Mumbai. For instance, a 2BHK home with an average carpet area of 650 sq. ft. costs about Rs. 1.25 Crore, while in Mumbai’s central suburbs it will cost around Rs. 2.11 Crore. In the western suburbs, it goes as high as Rs. 2.36 Crore – 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.

Also Read: Arkade Buys Thane Land for Rs. 2000 Cr Mixed-Use Project

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 percent when compared to FY 2020, while absorption rose a dizzying 78 percent - 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 percent of the new supply being delivered by Grade A developers

Around 44 percent of Thane’s residential supply is in the Rs. 80 lakh to Rs 1.6 Crore. 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 Rs. 59,000 Crore.