Thane cements its status as real estate hotspot in MMR
March 2025
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Over the last couple of years roughly from early 2023 to mid-March 2025 Thane’s real estate market has been on a steady upward grind, cementing its status as a hotspot in the Mumbai Metropolitan Region (MMR). It mirrors my tenure as President, CREDAI MCHI Thane. The positive moves are not just hype the numbers and trends back it up. Residential real estate has been the star performer. Demand spiked noticeably, with a 6.8% quarter on quarter increase reported in Q1 2023 alone, according to media reports.
Prices have followed suit— average residential rates in Thane hovered around ₹18,000-19,000 per sq ft in early 2023 but have crept up to ₹19,800-20,000 per sq ft by late 2024, depending on the micro-market. Prime areas have seen sharper jumps, media reports say. What’s driving this? Infrastructure growth and buyer confidence.
Commercial real estate has also picked up pace. Rental yields for commercial properties have held steady at 6-8%, outpacing many micro-markets across the MMR.
Retail spaces bounced back too, with malls and high-street shops in Thane seeing footfalls recover to pre-COVID levels by mid-2023.
In 2024, Thane saw over 27,000 new units registered in the first half alone, per MahaRERA, a chunk of them in the mid-topremium segment (₹1-2 crore range). Buyer profiles shifted too IT professionals, young families, and even NRIs jumped in, lured by Thane’s green cover, better air quality (AQI often 50-100 points below Mumbai), and excellent social infrastructure.
Overall, the past couple of years mirroring my tenure as President, CREDAI MCHI Thane have been a consolidation phase for Thane. It’s not a bubble it’s a market maturing fast, riding infrastructure tailwinds and its own appeal as a liveable, workable alternative to Mumbai’s chaos.
As I pass on the Baton to my good friend Mr Sachin Mirani, I wish the incoming President and the new team at CREDAI MCHI Thane the very best. Here’s to better days ahead!
Source: Thane Realty News
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