The year bid a positive farewell to Thane, as many infrastructure projects reached the culmination of their construction this quarter. This progress has placed Thane's real estate market in the spotlight, attracting buyers and investors alike. With selling transactions slowing down due to demonetization, the rental market has seen a significant uptick. The city's rental yield experienced a marginal rise of approximately 0.02%.
Property owners and investors capitalized on this opportunity, generating substantial earnings. Reports surfaced of flats in Thane experiencing a significant increase in rental prices. Among the various locations in Thane that have shown high growth in rental yields over the past nine months, Kalwa topped the list with a 13.7 percent increase. Kolshet Road followed closely with a 12.6 percent increase, and Patlipada with a 12.4 percent increase.
These increases in rental prices suggest that people are willing to pay more for a quality living experience, slowly but surely expanding the margins. There has been a notable rise in the records of State registrations and stamp departments in Thane district regarding the registration of leave and license documentation.
According to a survey, luxury flats on rent in Thane, priced at Rs 11,000 per sq ft and above, saw the highest price rise.