CRE Matrix Report Highlights Changing Buyer Preferences and Developer Competition in Majiwade

 

Mumbai: Thane’s established residential market of Majiwade is witnessing a significant transformation, with younger and working-age homebuyers emerging as a major driving force behind housing demand. Buyers aged between 25 and 45 accounted for 62% of registered residential units in 2026, highlighting the growing importance of this demographic in shaping the micro-market’s housing landscape, according to the latest Majiwade Market Research Report – October 2026 by CRE Matrix.

The report highlights changing home-buyer preferences, improving housing inventory absorption, and a shift in the competitive positioning of developers, reflecting the evolving dynamics of the residential market.

According to the age-wise distribution of registered residential units, buyers in the 35–45 age group accounted for the largest share at 34% in 2026. This was followed by buyers aged 25–35, who represented 28% of registrations. The combined 62% share indicates strong participation from working-age households, suggesting that this segment continues to play a crucial role in driving residential demand in Majiwade.

The report also points to improving market conditions, with unsold residential inventory declining by approximately 18%. The number of unsold homes fell from 5,641 in the third quarter of 2024 to 4,644 in the second quarter of 2026, representing a reduction of nearly 1,000 units.

The inventory overhang, which measures the estimated time required to sell available housing stock at the prevailing pace of registrations, also improved. It declined from 17 quarters in the first quarter of 2025 to 13 quarters by the second quarter of 2026. This indicates a better balance between available residential supply and market absorption.

Since 2018, Majiwade has recorded 13,227 residential units across 34 REAR-registered projects. Of these, 8,061 units are currently under construction, reflecting the scale of ongoing residential development across the wider micro-market.

A significant finding of the report is the changing competitive landscape among developers. As established projects approach completion or sell out, newer and actively marketed developments are contributing a larger share of residential registrations.

Lodha Group, which accounted for 42.9% of residential registrations during 2018–23, saw its share decline to 4.3% during 2024–26. In contrast, Rustomjee increased its contribution from 26% to 33.8%, emerging as the largest contributor to registrations in the recent period.

Ashar Group also recorded substantial growth, with its share rising from 3.3% to 20.9%. Together, Rustomjee and Ashar Group accounted for approximately 55% of residential registrations during 2024–26.

The report further highlights differences in developers' price positioning. In 2026 year-to-date, Rustomjee accounted for 32% of registered homes but contributed 42% of the total registered residential transaction value. This indicates a comparatively stronger presence in higher-priced housing segments.

Overall, the findings point to a maturing residential market in Majiwade, supported by younger homebuyers, declining unsold inventory, and changing developer dynamics. The evolving demand and supply patterns are likely to remain important factors shaping the micro-market's residential growth.