Shapoorji Pallonji Real Estate (SPRE) carries the weight of a conglomerate founded in Mumbai in 1865 — one that built national landmarks long before residential real estate became a mainstream business category. That origin shapes how the developer operates in Thane today: deliberately, with a concentrated bet on a single high-value micro-market rather than a scatter of sites across the city. The address of choice is Pokhran Road No. 2, and SPRE has returned to it across multiple product cycles, treating it less like a location and more like a long-term land relationship.
Pokhran Road No. 2 sits in the eastern half of Thane West, running broadly parallel to the Eastern Express Highway and intersecting the city's east–west movement corridors toward Ghodbunder Road. Over the past decade it has consolidated into one of Thane's measurably premium residential belts — market data from 99acres places average new-launch prices in the Pokhran No. 2 belt at Rs 19,000 per sq ft and above, placing it alongside Hiranandani Estate at the top of the city's residential price table. Appreciation on this corridor has reached up to 35 percent over the past five years, according to aggregated listings data — a figure that reflects both infrastructure pull and the brand density of developers who have chosen to build here.
SPRE's own cluster of projects on this road has contributed to that brand density. Northern Lights, the developer's master development here, spans 4.8 acres and has been developed in successive phases — each addressed at a different buyer segment within the same premium geography. That layered, phased approach to a single site is characteristic of how SPRE has operated across its larger residential townships nationally.
Northern Lights on Pokhran Road No. 2 is the umbrella under which SPRE's most recent Thane activity is organised. Within it, the developer launched Oyster in February 2026 — 283 units of 2- and 3-bedroom residences ranging from 564 sq ft to 1,004 sq ft on a RERA carpet-area basis, priced from Rs 1.56 crore. The unit mix is deliberately mid-range for this corridor, targeting salaried households and compact families rather than the ultra-luxury segment that the road also supports.
Separately, SPRE has developed Skyraa on Pokhran Road No. 2 — a high-rise product in the 3 BHK and 4 BHK segment with 332 apartments across a tower that reaches the 51st floor, making it among the tallest residential structures in Thane. The clubhouse within that project, positioned on the 51st level and called Float, includes a rooftop sky lounge, golf simulator, business centre, library, spa, and salon — a specification level that reflects SPRE's intent to hold the upper end of the corridor's pricing band. A 40,000 sq ft retail zone called Impulse is also embedded within the development. Skyraa is an under-construction project targeted for completion in December 2027.
Across these projects, SPRE's Thane portfolio on Pokhran Road No. 2 spans entry-level premium (Oyster at Northern Lights), high-rise luxury (Skyraa), and earlier phases of Northern Lights — giving the developer a continuous presence on one road across a meaningful part of a decade.
| Detail | Northern Lights (overall development) |
|---|---|
| Site area | Approximately 5.91 acres (CommonFloor data) |
| Total units (cumulative phases) | 609 units across 2 BHK, 3 BHK, and 4 BHK configurations |
| Unit sizes | 711 sq ft to 1,697 sq ft |
| RERA registration | P51700020305 and P51700019864 (MahaRERA) |
| Landmark reference | Opposite TCS campus, Pokhran Road No. 2 |
Pokhran Road No. 2's connectivity to the Eastern Express Highway means Thane station — a junction of the Central Railway mainline and the Harbour trans-harbour line — is reachable without crossing major traffic nodes. Thane station itself sits approximately 33–35 km by road from CST and around 23 km from BKC, giving residents a viable daily commute window. For road commuters, the proximity to the Eastern Express Highway keeps Powai and Vikhroli — two of the Mumbai Metropolitan Region's largest office campuses — within a practical distance. SPRE specifically positioned the Skyraa launch note around this: the site is adjacent to the Eastern Express Highway.
The longer-term infrastructure case rests on Mumbai Metro Line 4 (Wadala–Kasarvadavali), whose completion is expected to substantially shorten commutes to employment zones across the MMR, and Metro Line 5 (Thane–Bhiwandi–Kalyan). Historical data from comparable metro openings in the MMR suggests a 10–15 percent price-utility jump in the immediate window after the first trains run. Pokhran Road No. 2's proximity to the proposed Majiwada Metro station is one reason analysts flag this corridor as a beneficiary of that transition.
Social infrastructure on and around Pokhran Road No. 2 is already established — the area is served by Smt. Sulochanadevi Singhania School and Vasant Vihar High School, and Thane's retail core (Viviana Mall, Korum Mall, Lake City Mall, and R Mall) is accessible without extended travel. The Manpada and Kapurbawadi office pockets, which have grown into sub-district commercial nodes, are also nearby.
Premium localities on Pokhran Road No. 2 carry average property prices starting around Rs 19,000 per sq ft, according to 99acres' May 2026 data. Thane-wide, average home prices rose approximately 46 percent over three years between mid-2022 and mid-2025 — from around Rs 13,550 to Rs 19,800 per sq ft across the city. On Pokhran Road No. 2 specifically, land is becoming scarce; as supply drops and branded-developer demand holds, prices on this corridor are expected to remain firm.
SPRE's Oyster at Northern Lights, priced from Rs 1.56 crore for 2-bedroom units starting at 564 sq ft carpet area, enters at the lower boundary of what the corridor's supply curve currently supports for a branded product. That positioning reflects a deliberate effort to widen the accessible buyer base on a road that has historically skewed toward larger configurations.
Shapoorji Pallonji Group operates across six broad business segments — engineering and construction, infrastructure, real estate, energy, water, and financial services — with a workforce of over 60,000 people across more than 40 countries. The real estate arm, SPRE, carries a portfolio that extends well beyond Thane: Joyville-branded affordable housing across Virar and Gurugram (the latter IFC-certified), SP Infocity commercial IT parks, and high-rise luxury in Mumbai and Pune. The group's construction arm built structures that now appear in national architectural histories, a track record that informs the trust buyers place in SPRE's residential delivery.
In Thane specifically, SPRE's commitment to Pokhran Road No. 2 over multiple project cycles — rather than opportunistic single launches — signals a long-term view of the corridor. Sumit Sapru, CEO of SPRE, described Pokhran Road No. 2 in February 2026 as one of Thane's most desirable residential micro-markets, citing infrastructure, connectivity, and lifestyle demand as the structural drivers. That is a consistent position across the company's project communications for this address, not a one-time marketing note.
