By Team Homes | Wednesday, 23 July 2025

Puranik Group Leads Ghodbunder Road's Mid-Income Housing Push

Ghodbunder Road Thane

Puranik Group, one of the most consistent mid-income housing developers in the Mumbai Metropolitan Region (MMR), has reinforced its commitment to affordable residential real estate by emerging as the largest developer on Ghodbunder Road, Thane.

Verified MahaRERA records and public data confirm that the developer has delivered over 7.5 million sq. ft. of housing stock in the area since 2000, with more than 9,000 families residing across its key townships like Puranik City, Rumah Bali and Tokyo Bay.

Key Highlights

  • Puranik Group has delivered 7.5M sq. ft. on Ghodbunder Road since 2000
  • Maintains affordable pricing despite 8.3 percent CAGR growth in the area
  • 81 percent of FY25 home sales were for self-use, showing end-user confidence

In a market now dominated by luxury housing and high-margin repositioning, Puranik Group has strategically retained its pricing between Rs. 55–90 lakh, focusing on scale, trust, and lifecycle customer engagement. Its early-mover advantage has allowed it to integrate seamlessly into Ghodbunder Road’s expanding infrastructure network — including Metro Line 4, the Borivali–Thane twin tunnel, Kasarvadavli flyover, and the proposed Balkum–Gaimukh coastal arterial link.

“We didn’t enter Ghodbunder Road to chase a cycle. We arrived before the market was ready — and we stayed because the need was real,” said Shailesh Puranik, MD of Puranik Builders. “Our model was always built around end-users, not price escalations. This philosophy is what defines our footprint — and perhaps why it continues to grow.”

Also Read: Thane Real Estate Surges 46% in Just 3 Years

Home prices on Ghodbunder Road have steadily climbed from Rs. 6,400/sq. ft. in 2014 to Rs. 13,800–18,000/sq. ft. in 2024, delivering a CAGR of 8.3 percent, yet retaining affordability compared to Airoli or Kalyan. In FY25, residential registrations rose 28.1 percent, with 81 percent of units bought for self-use—a rarity in MMR’s investor-heavy landscape.

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