July 2017 | Back to all Real Estate Articles
Thane, post demonetisation, emerged almost unscathed. Thus, going forward, the realty segment of the city is expected to grow
Magicbricks recently released a report titled PropIndex for January March 2017, highlighting the performance of the city in the mentioned quarter. The index for Thane shows that it had a stable January-February-March `17 quarter and prices fell marginally.
The effect of the demonetisation drive (November last year), was almost negligible for the city and it had a decent number of new launches during the last year. The ready-tomove-in segment, which has traditionally had a high black money component and which was expected to take a hit in the last two quarters, saw its prices moving by 1 per cent in this period.
Analysis across 42 localities shows that on an average, Ready-to-Movein (RM) properties were more expensive than Under Construction (UC) properties in the January March 2017 quarter. For this quarter, the weighted average price of RM and UC properties was Rs 8,221 per sq ft and Rs 7,115 per sq ft respectively.
The gap between the average price of RM and UC properties has remained at the same level in the January-March 2017, as in the previous quarter. RM properties have continued to command a premium over UC properties for more than two years now.