Mumbai Metropolitan Region’s Real Estate Shift, Thane Loses Its Crown — Know Here Who’s The New Boss?

Mumbai: The real estate map of the Mumbai Metropolitan Region (MMR) is redrawn. Once the undisputed satellite city, Thane is now witnessing competition from new and emerging corridors. According to real estate consultancy Proptiger, homebuyers’ attention is swiftly shifting toward 'Beyond Thane' and 'Panvel & Beyond' — regions that promise better value, infrastructure, and connectivity.

Rising Stars: Kalyan, Dombivli, Ambernath, and Panvel

The 'Beyond Thane' belt covers areas like Kalyan, Dombivli, Ambernath, and Badlapur, while 'Panvel & Beyond' includes Panvel, Khopoli, and Rasayani. These pockets are gaining prominence due to affordability and rapid infrastructure upgrades. Unlike Thane’s saturated market, these regions offer larger land parcels for integrated townships and new housing projects.

Panvel Takes the Lead

Reports show that Navi Mumbai — including Panvel — accounted for nearly 39 percent of all new residential launches in Q3 2025. Mega infrastructure projects such as the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Metro, and the upcoming International Airport have turned Panvel into the region’s most sought-after investment zone. Property prices in the mid-segment here surged 27 percent year-on-year — the highest across MMR.

Thane Slows, New Corridors Surge

While Thane’s mid-segment prices also grew by 20 percent, developers are now betting big on these newer growth zones. Proptiger notes a 7.1 percent jump in new project supply from Q2 to Q3 2025, signaling high developer confidence. Big names like Raymond Realty are investing Rs 14,000 crore in expansion, much of it directed toward these emerging belts.

The New Growth Engine of MMR

With rising housing demand and massive connectivity projects, it’s becoming clear that MMR’s real estate power is shifting. The question remains — can Thane reclaim its throne, or has Panvel already emerged as the new 'Real Estate King' of Mumbai’s future?