Thane emerges as affordable Mumbai alternative, housing prices up 46% price in 3 years
Anarock's insights revealed that 65,800 units were launched in Thane between FY2020 and FY2025
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Maharashtra's Thane housing market is booming, with residential prices witnessing a growth of 46 percent over the last three years. According to a report by property consultant Anarock, residential property prices in the city have increased from Rs 13,550 per sq. ft. in Q2 2022 to Rs 19,800 per sq. ft. in Q2 2025.
According to Aayush Puri, Head – ANAROCK Channel Partners (ACP) & ANACITY, prices in Thane have surged 60 percent since 2020, when the average rate 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 Mumbai Metropolitan region (MMR) housing landscape.
Puri attributed the price surge to an influx of infrastructure projects in the city worth Rs 59,000 crore. He said, “Thane’s steady capital values growth has largely been fuelled by infrastructure upgrades that have ignited homebuyer interest".
Notably, demand for under-construction homes has outpaced that for ready-to-move-in units in the current calendar year, primarily because the city offers luxury homes at relatively affordable prices in contrast to Mumbai.
Anarock's insights revealed that 65,800 units were launched in Thane between FY2020 and FY2025. Of the total supply, 45 percent comprised 2BHK flats, followed by 1BHKs at 41 percent. 3BHKs made up 11 percent of the share, while 4BHKs accounted for just 2 percent.
“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.”
The report added that Thane’s residential skyline currently features 89 skyscrapers of 40-plus floors. In Q1FY 2026, the city saw approximately 3,130 residential units sold, while new supply stood at 2,910 units. Around 44 percent of Thane’s residential supply falls in the Rs 80 lakh to Rs 1.6 crore budget segment.
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.
