Property sales in Thane have seen a 20% decline in the second quarter of 2022 (April through June) compared to what was seen in the previous quarter.
Property Sales in Thane Have Seen a Decline in Q2, 2022
Looking at daily transactions from January to June, it is seen that a sharp uptick in sales was observed towards the end of March, a trend that is explained by the aforementioned policy updates that came into effect from the month of April.
A Similar Drop in Sales was Seen in Q2, 2021
In an effort to examine whether the decline in sales observed this year is seasonal, a comparison was made for the same period from 2021. It is seen that property sales in Thane last year noted a more drastic decline in sales volume of 47% QoQ in the second quarter.
However, since the government imposed stringent measures regarding property registrations for the month of April, with a cap imposed of 25-30 registrations a day per SRO, in an effort to curtail the spread of COVID-19, it is difficult to say with certainty whether this drop in sales is seasonal.
Affordable Transactions (ticket size < 45 Lakhs) Continue to Drive Sales Volume
Not only is it seen that affordable sales (ticket sizes < 45 Lakhs) continue to make up for the majority of sales transactions in the district, the segment-wise distribution of sales in Thane has also not witnessed a notable change. Therefore, buyer preference for properties in terms of value has remained consistent from the last quarter.
Ghodabandar and Majivade Noted the Most Number of Sales Transactions in Thane
Looking at the geographical distribution of sales in Thane, it is seen that a large number of sales transactions were seen in the western parts of the district, close to metro regions such as Navi Mumbai and Mumbai city, with the top localities for sales transactions by volume all present in western Thane.
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