Thane Emerges as MMR’s Real Estate Hotspot with 46% Surge in Home Prices Over Three Years
Thane, 17th July 2025: Once considered a quiet neighbour of Mumbai, Thane has rapidly evolved into one of the busiest and most sought-after real estate destinations within the Mumbai Metropolitan Region (MMR). According to a recent report by ANAROCK titled “Thane: The Rising Star of MMR Real Estate”, home prices in the city have soared by 46% over the past three years, highlighting its growing appeal among homebuyers seeking value for money.
The report reveals that the average cost of residential property in Thane has jumped from Rs 13,550 per sq. ft. in Q2 2022 to Rs 19,800 per sq. ft. by June 2025. This steady rise in prices underscores the city’s transformation into a modern, urban residential hub.
Majority of the new housing stock in Thane comprises compact units. From 2020 to 2025, around 45% of new launches were 2BHKs and 42% were 1BHKs. Larger homes, 3BHKs and 4BHKs, account for only 13% of the supply, showing a clear trend toward affordable, functional housing.
The most active price range for these units is between Rs 80 lakh and Rs 1.6 crore, significantly more affordable when compared to equivalent options in Mumbai’s central and western suburbs. Aayush Puri, Head of ANAROCK Channel Partners (ACP) and ANACITY, points out that homes in Thane are up to 78% cheaper than similar units in Mumbai. For instance, a 2BHK apartment of 650 sq. ft. typically costs around Rs 1.25 crore in Thane, whereas the same unit could cost over Rs 2 crore in Mumbai’s central suburbs and around Rs 2.4 crore in the western suburbs, excluding additional charges like GST and registration.
As available land becomes scarce, Thane’s skyline is going vertical. The city now boasts 89 residential towers with more than 40 storeys, signalling a shift toward high-rise developments. Nearly half, about 47%, of this new supply comes from Grade A developers, offering buyers more credible and reliable investment options.
Among Thane’s most in-demand neighbourhoods are Panchpakhadi and Naupada in Thane Central, as well as Pokhran Road, Majiwada-Balkum, Kolshet Road, and Kasarvadavali. These areas are favoured for their strong connectivity, robust social infrastructure, and projects by reputed builders.
With a blend of affordability, modern amenities, and developer credibility, Thane continues to cement its status as a leading residential hub in the MMR, poised for sustained growth in the years ahead.
