Property valuation in Thane

Thane is its own city, with its own municipal corporation, though most people think of it as part of Mumbai. Its housing ranges from 1970s society buildings to new towers along Ghodbunder Road, and a good part of it is now being rebuilt.

Old societies and redevelopment

Many older Thane buildings are cooperative societies whose members are deciding whether to redevelop. Before members agree, each needs to know what their existing flat is worth and what the offered new flat will be worth. Those two numbers are the heart of a fair redevelopment agreement.

Cluster development

Thane has a cluster development scheme, under which whole groups of old and unsafe buildings are rebuilt together rather than one at a time. A flat in a cluster area has a different future from one outside it, and that affects what it is worth today. The report states whether a building falls within a notified cluster.

What we value here

Society flats in Naupada, Panchpakhadi and around the station, newer flats along Ghodbunder Road and in Majiwada, Kolshet and Balkum, and shops in the older markets. Thane is a Maharashtra ready reckoner area, so stamp duty is charged on the higher of agreement value and ready reckoner value.

Selling an older flat

For a flat held since before 1 April 2001, the value on that date can be used as the cost when you sell. In Thane's older buildings, that usually reduces the taxable gain a great deal. How capital gains valuation works in the Mumbai region.