Property for Rent in Thane

Thane, the city on the outskirts of Mumbai, has evolved like no other suburb in Mumbai. With numerous upcoming residential projects, Thane has made a mark on the real estate sector and has countless investors partaking in investments given the boom in real estate growth. Due to a few real estate developers, localities such as Hiranandani Estate and Ghodbunder Road were recognised for their infrastructure and received an influx of investors and homebuyers. 

Post the pandemic, Thane had a huge population come into the city for employment purposes, leading to an increase in demand for rental properties. Thane is preferred by individuals looking for affordable and economical rental housing options in Mumbai for a variety of reasons. In addition to the relative affordability of renting in Thane, one can also benefit from convenient access to the Mumbai city centre. Furthermore, there has been a significant improvement in the local infrastructure in and around Thane recently. 

Market Trend for Rent in Thane

The prospect of greater property sales in the months to come is encouraged by an increase in housing rentals, which is good news for both developers and prospective homeowners. When compared to December 2018, the average monthly rent in Mumbai's micro-markets increased from 4% to 29% in August 2022.

Rental properties in Thane have seen a hike in rental prices due to the upcoming projects and the numerous employment sectors. Being a commercial hub, Thane’s population mostly consists of the workforce from different parts of the country.

Tenants rank several neighbourhoods in Thane, and Hiranandani Estate and Ghodbunder Road garnered the highest ratings because they are reasonably priced, have exceptional connectivity with local trains, highways, and upcoming metro lines, and are close to commercial centres.

Top Localities for Rent in Thane

The top localities for rent in Thane are -

• Ghodbunder Road
• Hiranandani Estate
• Dombivli East
• Kalyan West
• Kalwa
• Majiwada
• Vasai East
• Kolshet Road
• Bhiwandi

Thane Property for Rent by Budget Type

Thane has an extensive rental market, offering studio apartments, apartments, builder floors, villas, apartments in gated communities, office space, and commercial properties. Across Thane, there are 20,499 rental properties in a spectrum of different pricing brackets.

Approximately 12,945 one-bedroom properties are available for rent in Thane. The rent price for a 1-BHK apartment or studio flat starts at as low as Rs 5,000 for a carpet area of 266 sq. ft. and increases up to Rs 4 lakhs for a carpet area of 442 sq. ft. The prices depend on the locality and the owner of the property.

Thane features more than 5,259 two-bedroom properties available for rent. The rental price for a 2-BHK starts from Rs. 5,000 covering a carpet area of 800 sq. ft. and goes up to Rs 6 lakhs with a carpet area of 918 sq. ft.

One can find over 766 three-bedroom properties available for rent in Thane. The rental price for a 3-BHK starts from Rs. 5,000 covering a carpet area of 625 sq. ft. and increases to Rs 1 lakh with a carpet area of 1895 sq. ft.

Thane has over 59 four-bedroom properties for rent. A 4-BHK property rental price starts at Rs. 14,000 with a carpet area of 1,698 sq. ft. and goes up to Rs. 1.5 lakhs spanning a carpet area of 2,000 sq. ft.

The city has a handful of five-bedroom properties available for rent in Thane. A 5-BHK property’s rent price starts at Rs. 47,000 with a carpet area of 1,420 sq. ft. and increases up to Rs. 2.5 lakhs covering a carpet area of 3,000 sq. ft.