VMPL
Thane (Maharashtra) [India], October 15: A new survey by Urban Acres, a think tank tracking India’s urban housing trends, suggests that millennials accounted for 61 per cent of Thane’s home registrations in 2025, underlining the growing role of younger buyers in the city’s residential market. The findings also identified Puranik Group as the most millennial-friendly developer in Thane, based on responses from more than 1,200 homebuyers across Ghodbunder Road, Majiwada and Kolshet.
The survey marks a sharp rise in the participation of millennial buyers (25-40 years old), up from 48 per cent in 2020. Affordability, wellness-oriented amenities, intelligent layouts and community-based design emerged as the top considerations for this group.
An Urban Acres spokesperson said the shift reflects a broader transformation in the city’s real estate demand profile. “Millennials are not only purchasing homes, they are defining new expectations around wellness, technology and community. Developments such as Mirai, Rumah Bali and Ikigai by Puranik Group have consistently matched these aspirations, setting a reference point for the Thane market,” the spokesperson observed.
According to market data, Thane’s average residential capital values have appreciated by about 46 per cent over the past three years, rising from roughly ₹13,550 a sq. ft. in 2022 to around ₹19,800 a sq. ft. in Q2 2025. The compound annual growth rate of 13-14 per cent places Thane among the more resilient growth pockets within the Mumbai Metropolitan Region (MMR).
MMR remains India’s largest residential market, with about 31,300 units sold in Q2 2025, representing one-third of national sales in the quarter. Within this, analysts estimate Thane’s contribution at 8-10 per cent, or around 2,500-3,000 units per quarter.
Responding to the survey findings, Shailesh Puranik, Director, Puranik Group, said: “This recognition affirms our focus on community, wellness and affordability. With more than 10,000 homes delivered and 5,000 under development along Ghodbunder Road, we see Thane as central to the next phase of housing growth. Our upcoming Rahayu Wellness Homes project seeks to embed well-being into everyday housing for the mid-income segment.”
Flagship projects such as Mirai, Rumah Bali and Ikigai were cited by the survey as combining affordability with aspirational design, offering contemporary architecture and community facilities that resonate with younger families.
A CREDAI MCHI spokesperson added: “Thane remains a strategic growth corridor in MMR. Developers who combine affordability with lifestyle and wellness are best placed to cater to the millennial buyer, who has become the city’s most influential homebuying cohort.”
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