Builders keen to sell 2BHK flats to affluent clientele in the Rs 80 lakh and above price range; no scope for the aam aadmi's dream house

Prohibitively steep property rates in Mumbai are common knowledge. Recently, however, Thane also appears to have joined the league of cities where property prices have shot up exponentially. The fact that the Mumbai suburb too is becoming increasingly unaffordable was made amply evident at the property exhibition held by the Thane unit of the Maharashtra Chamber of Housing Industry (MCHI). Only two builders were offering one bedroom-hall-kitchen (BHK) flats, of which only one was situated in the city proper, while the other was located at a distance of 10 km from the station. Most of the apartments on offer were two BHKs, costing no less that Rs 89 lakh each. A prominent builder was offering a two BHK apartment for a steep Rs 2.36 crore, in a soon-to-be launched project.


Dear estate : Most of the apartments on offer at the property exhibition
in Thane were two BHKs, costing no less than Rs 89 lakh each.
Pics/Sameer Markande

Apartments with price tags below half a crore are becoming increasingly scarce in Thane. Builders have practically stopped constructing one BHK apartments, and two BHK apartments are being sold at exorbitant rates. The common man's dream of owning a small sanctuary in the heart of the city is becoming increasingly elusive. The rates in Thane are a whopping Rs 7,000 per sq ft. Considering that the smallest house built in Thane has a minimum area of 1,000 sq ft, almost all Thane lodgings will cost you a dear half a crore or more.