Thane Real Estate Rentals Market Rise By 10% (April – June 2023 )
Introduction Thane Real Estate Rentals Market Rise By 10%
Thane real estate rentals market rise by 10% in the April to June 2023 quarter, searches for rental properties in Thane climbed by roughly 10%. While rent as a whole increased by 1.3%. The availability of rental property (or listings) did, however, experience a 2.4% QoQ fall in Q2 2023.
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Overview Of The Thane Rental Market
| Parameters | QoQ Change |
| Demand | 9.7% |
| Supply | -2.4% |
| Rent | 1.3% |
Supply: alterations in the number of active listings
Rent: Variation in the median rent for fully, partially, and unfurnished properties
Key Trends In Thane’s Rental Property Market
Rent searches and total rent in Thane climbed by 9.7% and 1.3% quarter over quarter, respectively. Additionally, in Q2 2023, availability (listings) had a fall of 2.4% QoQ.
- Due to their excellent connections and abundance of inexpensive options, Ghodbunder Road and Thane West continue to be people’s top picks for locations.
- In Thane’s most prestigious neighbourhoods, the average rent for a 2 BHK flat is between INR 19,000 and 26,000 per month, while the average rent for a 3 BHK flat ranges from INR 28,000 to 36,000 per month.
.Notes:
- Demand is the breakdown of property searches made on the website during the second quarter of 2023 by the BHK (Bedroom, Hall, Kitchen) combination.
- Supply is made up of the current, BHK-specific listings on the website during Q2 2023.
Housing Units Between 500 & 1000 Square Feet Are Most Popular In Thane
- Tenants have exhibited a preference for inexpensive solutions in Q2 2023. Rents between INR 10,000 and 20,000 have a 40% demand share and a 48% availability share, respectively.
- There was a maximum preference for dwelling units between 500 and 1,000 square feet, which accounted for 74% of demand and 70% of supply.
- For unfurnished flats, the demand and supply were 49% and 45%, respectively. Semi-furnished units came in second place, with a demand of 33% and a supply of 43%.
Average Rents In Thane’s Most Popular Search Locations
| No. | Locality | 2 BHK Rent | 3 BHK Rent |
| 1 | Ghodbunder Road | 25,000 | 36,000 |
| 2 | Thane West | 26,000 | 38,000 |
| 3 | Hiranandani Estate | 31,000 | 45,000 |
| 4 | Dombivli East | 13,000 | 19,000 |
| 5 | Kalyan | 12,000 | 18,000 |
| 6 | Bhayandarpada | 19,000 | 28,000 |
| 7 | Balkum village | 26,000 | 38,000 |
| 8 | Dombivli | 12,000 | 18,000 |
| 9 | Pokharan Road | 32,000 | 46,000 |
| 10 | Majiwada | 26,000 | 38,000 |
| 11 | Haware City | 16,000 | 23,000 |
| 12 | Kolshet Road | 28,000 | 41,000 |
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