Ghodbunder Road: Affordable Housing Corridor in Mumbai Metropolitan Region

Ghodbunder Road in Thane has emerged as the affordable housing corridor in the Mumbai Metropolitan Region (MMR). Despite rising property prices, it continues to attract salaried end-user buyers. Puranik Builders has contributed significantly to the area's growth, delivering over 7.5 million sq. ft. of residential development and owning large parcels of contiguous land. The corridor is under evaluation for the state's "Middle-Income Growth Corridor" initiative.

Ghodbunder Road in Thane has emerged as the affordable housing corridor in the Mumbai Metropolitan Region (MMR). Despite rising property prices, it continues to attract salaried end-user buyers. This trend can be attributed to the significant contributions of Puranik Builders, which has delivered over 7.5 million sq. ft. of residential development and owns large parcels of contiguous land in the area [3].

The corridor has seen a notable increase in residential sales agreements, with a 28.1% Year-on-Year increase in FY 2024–25. Over 81% of these agreements were registered to non-investor individuals, indicating a strong demand from end-users [3].

Puranik Builders has maintained a product mix within the ₹55–90 lakh segment, avoiding large-scale luxury pivoting even post-RERA and post-COVID. This focus on middle-income housing has made Ghodbunder Road an attractive option for salaried families [3].

The corridor is under evaluation for Maharashtra's upcoming "Middle-Income Growth Corridor" initiative, which aims to promote infrastructure-aligned housing. The initiative is based on four key parameters: land price-to-income ratio, end-user housing concentration, metro accessibility, and infrastructure density [3].

While the average residential prices in the MMR have seen a significant increase, Ghodbunder Road continues to offer more affordable housing options. This makes it an attractive corridor for investors and buyers alike.

References:
[1] https://economictimes.indiatimes.com/markets/stocks/news/kalpataru-pre-sales-jump-41-to-rs-4531-cr-in-fy25-on-better-housing-demand/articleshow/122812504.cms
[2] https://economictimes.indiatimes.com/wealth/real-estate/this-locality-in-mumbai-saw-46-property-price-rise-in-3-years-see-how-much-rise-your-city-has-witnessed/articleshow/122744945.cms
[3] https://www.thehindu.com/business/ghodbunder-road-emerges-as-mmrs-affordable-real-estate-corridor/article69839016.ece