PropIndex | Magicbricks · 18 hours ago · PropIndex | Magicbricks Executive Summary observed a...

PropIndex | Magicbricks

Executive Summary

observed a natural panic followed by a stagnation due to strict restrictions onpeople movement. However, after a prolonged stagnation of almost threemonths, the market has started adapting to the ‘new normal’. The retrieval isvisible in the Indian stock market, which has recovered by over 30%, afterfalling drastically in April.

The property buyer market sentiments are on the path to recovery with thebuyer searches on our property portal set to surpass the pre-COVID levelsindicating robust underlying fundamentals on the demand side. The recentProperty buyer sentiment survey conducted by Magicbricks observed that asignificant percentage of buyers are still looking to buy properties across theIndian cities, even though the buying plans have deferred by a few months andbudgets have reduced.

The government on its pursuit to bring the economy back on track launched‘Atmanirbhar Bharat Abhiyan', an INR 21 lakh crore economic package of creditsupport. Also, RBI had cut bank rates by 40 basis points resulted in all-time lowrepo rate and reverse repo rate at 4% and 3.35%, respectively which is likely togive a liquidity side push to the economy. For the real estate sector, the stategovernments have extended the registration and completion dates for RERAregistered projects by 6-9 months to provide some relief to the real estatedevelopers. The 3-month moratorium on home loan instalments also gavemuch-required respite to the buyers.

According to Magicbricks research analysis, the real estate prices in the top 8cities observed a 2-9% decline in April 2020 as an immediate reaction to thecrisis. However, the overall price decline in the April-June quarter remainedrange-bound, with just 1-5% decrease across TIER I cities. At the city level, thereal estate market of Mumbai Metropolitan Region (MMR) fared slightlybetter as compared to other regions, despite being worst hit by COVID-19. Theaverage price decline was in the range of 0.4% to 0.8%. Southern cities wererelatively worse off, with prices declining by a significant 3% to 5%. Gurgaonand Noida markets in the National Capital Region (NCR), which were alreadyfacing headwinds for quite some time, resisted downward pressure on price.Overall, the situation seems to be contained and we haven’t yet witnessed anysignificant price reductions during the COVID-crisis. Most TIER I citieswitnessed an inverse correlation between prices and demand. Cities whereprices declined more, also saw a higher share of consumers coming back to themarket to look for attractive deals.

Data indicates that consumers are back to the marketplace, albeit in lowernumbers. Developers are running various schemes and promotions to convertbuyers into transactions. The next 3-6 months will be key to determine anydeveloping trends in prices and transaction volumes. It has become even moreof a buyers’ market with the onus on sellers to make the right interventionsand get the real estate market back on its tracks.

Take care and stay safe,All the best

IndiaApr-Jun 2020

Notes: In the above graph, the real estate market sentiments are represented byvolume of consumer searches for properties on our wbsite for the period startingfrom Feb 2020 to June 2020

Source: Magicbricks Research

For more information and research related queries, please contact:

Market Dynamics

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant [email protected] [email protected] [email protected] [email protected]

Please go to https://property.magicbricks.com/microsite/buy/propindex/ link to access the interactive dashboard of all city reports.

Disclaimer: The data represented above is compiled by Magicbricks from multiple sources. Magicbricks gives no warranty, express or implied, as to the accuracy, reliability, andcompleteness of any information and does not accept any liability on the information which may or may not be subject to change from time to time due to Governmental or nonGovernmental regulations/directions.

Sudhir Pai | CEO

COVID-19 is perhaps the biggest challenge facingthe world economy and India is no exception. TheIndian economy had come to a standstill after thegovernment announced a lockdown in mid-March2020. Consequently, the Indian economy isexpected to grow at just 4.2% in the fiscal year2020, lowest in the last 11 years. For the financialyear FY’21 many national and internationalagencies have projected India’s GDP contractingby 3% or more, making this the lowest growthrate in over 40 years.

During the lockdown, the real estate market also

Region Demand* Supply# Price QoQ+ Price YoY+

India

Hyderabad

Bengaluru

Chennai

Gurgaon

Pune

Thane

Navi Mumbai

Mumbai

Kolkata

Ahmedabad

New Delhi

Noida-Greater Noida 1.6%

-2.7%

0.4%

3.3%

-2.2%

3.0%

1.9%

-1.9%

0.7%

2.3%

-1.5%

0.5%

0.5%

-0.2%

-2.3%

-3.5%

-1.3%

-0.8%

-0.4%

-0.6%

-1.6%

-0.4%

-3.1%

-2.8%

-5.2%

-1.5%

-44.2%

-38.5%

-38.6%

-31.1%

-52.5%

-54.6%

-40.2%

-52.9%

-43.0%

-37.6%

-28.6%

-21.7%

-42.5%

-17.7%

-10.9%

-50.6%

-15.3%

-36.9%

-45.2%

-32.8%

-38.6%

-25.4%

-21.7%

-14.0%

-23.8%

-26.7%

* represents QoQ change in volume of property searches on Magicbricks website inQ2 2020 # represents QoQ change in volume of active listings on Magicbricks website in Q22020+ represents the QoQ and YoY change in the average price at India and city level


Changes in Real Estate market sentiments during COVID-19

©2020 magicbricks.com

25 March: Indiaimplementedlockdown

India saw 100COVID-19 cases

Panic

Stagnation

RecoveryLockdownpartiallyrelaxed

12 May: INR 20 Lakh Cr recovery package announced

13 May: 6 month RERA extension

February March April May June

Lockdown Unlock 1.0

Wk1

Wk2

Wk3

Wk4

Wk1

Wk2

Wk3

Wk4

Wk1

Wk2

Wk3

Wk4

Wk5

Wk1

Wk2

Wk3

Wk4

Wk5

Wk1

Wk2

Wk3


Residential Market Insights

Reduction in stamp duty and property guidance values to help revive Bengaluru real estate market

Bengaluru residential market maintained a steady momentum in the last 5 years with 17.7% and 33.3% surges inready to move and the under construction segment prices, respectively. However, the prices fell by almost 3% in thelast quarter due to the COVID-19 outbreak.

The state government took the initiative to support home buying by reducing the stamp duty on properties costingup to INR 35 lakh. Many local developers have also enabled online booking facilities such as digital signature, onlinepayment, virtual tours, and video conferencing to help in sales during the pandemic and offers such as "Once in aLockdown", are expected to bring the consumers back to the market.

5 YearChange YoY QoQ

-2.8%-1.5%17.7%


-0.8%1.7%33.3%

"Theunder-constructionsegment had a decent33% growth in the last5 years, but the recentpandemic brought adecline of 0.8% in Q2

2020"

BengaluruApr-Jun 2020

Parameters India Bengaluru

Demand+ -27% -14%Supply++ -43% -29%Price Index+++ -1.5% -2.8%

"QoQ 2.8% pricedecline in the

ready-to-move segmentwashed away the gainsmade during the

previous six quarters"

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + change in the volume of property searches ++ change in the volume of active listings +++ change in the weighted average price


Prestige Estates

SOBHA Ltd.

Brigade Enterprises

Mahaveer Group

Puravankara Ltd.

Salarpuria Sattva Group

Assetz Property Group

Shriram Properties

SNN Builders

Godrej Properties

Lakeside Habitat Whitefield

Sobha Dream Acres Panathur

Prestige Kew Gardens Yemalur

Prestige Song Of South Begur Road

Prestige Tranquility Budigere

Sobha City Thanisandra

SNR Verity Sarjapur Road

Ittina Neela Electronic City

Prestige Shantiniketan Whitefield

Welworth City Doddaballapur Rd

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Post COVID-19 pandemic, governmenthas allowed partial sales of plots In thelayouts to ease the liquidity situation ofdevelopers and accelerate the layoutdevelopment process.

- State government allows theregularization of over 75,000 landparcels, which were initially a part ofthe BDA development scheme but wereunder unauthorized possession for morethan 12 years, by payment of penalty.

- Shortage of labour, supply chaindisruption and extension in the RERAdeadline by 3 months in Bengaluru islikely to shift delivery of some underconstruction projects by a few months.

"COVID-19 induced aprice decline of 1-3%across most budget

segments"

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

2,000

4,000

6,000

8,000

10,000

2014

2015

2016

2017

2018

2019

2020

2,000

4,000

6,000

8,000

10,000

Price Bracket (INR per sqft)

< 5,000 5,000-6,000 6,000-7,000 > 7,000

RM UC RM UC RM UC RM UC

1.0%

-2.6%

-1.4%

-1.9%-1.5%

-2.0%

-1.0%

-3.3%

Key Projects

Key Developers based on activelistings

Project Name Locality

Average Price INR per sqft

Average Price INR per sqft

The above table represents the top developers by share ofactive listings on Magicbricks website in Q2 2020


Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q2 2020


Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research

Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city.


Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on June 2020


Page 1© magicbricks.com

Above 3 BHK6%

3 BHK42%

2 BHK46%

1 BHK6%

DEMAND

Demand Supply Analysis Bengaluru | Apr-Jun 2020

Demand-supply mismatch emerging in INR <5,000 per sqft price bucket

2 and 3 BHKs together make up for ~ 90% of the demand and supplyWhitefield, Sarjapur Road, BellaryRoad and Electronic City were mostpreferred in Q2 2020

- Bengaluru thrives on a healthy mid-segmentdemand, with both 2 and 3 BHKs each accountingfor more than 40% of the demand and supply.Together they account for 88% of the propertysearches and 92% of the supply.

- However the market is slowly shifting to theaffordable segment, and a small demand-supplymismatch is emerging in the less than INR 5,000per sqft price bucket.

- The demand for 1 BHK and 2 BHKconfigurations is likely to further increase due tothe reduction of stamp duty between 3% to 5%for properties costing upto INR 35 lakh.

"The affordable housingmarket in Bengaluru to growfurther as peripheral areas

develop"

- Whitefield, Sarjapur Road, Bellary Road andElectronic City were the top 4 micromarkets inthe city, supported by factors such asaffordability, better access to IT hubs and soundconnectivity to the airport.

- The extension of metro lines fromBaiyappanahalli – Whitefield and RV Road –Bommasandra is likely to boost the demand forthe economic hubs of Whitefield and ElectronicCity in the future.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searches andlistings by localities

Above 3 BHK5%

3 BHK46%

2 BHK46%

1 BHK3%

SUPPLY

6000-700018%

5000-600024%

> 700024% < 5000

34%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

6000-700014%

5000-600020%

> 700024%

< 500042%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by BHK configuration


.Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by price buckets


Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q2 20202. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.


Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Sarjapur Road

Bannerghatta

Tumkur Road

Indira Nagar

Chandapura

Devanahalli

AnjanaPura

Hoskote

Gunjur

© OpenStreetMap contributors

Demand/SupplyDemand

Whitefield 3800 - 8750Sarjapur Road 3750 - 8350Bellary Road 3950 - 9900Electronic City 3000 - 6450Kanakapura Road 3750 - 9550Bannerghatta Rd 3350 - 8500JP Nagar 4050 - 12700

11223344556677

Whitefield 3800 - 8750

Sarjapur Road 3750 - 8350

Bellary Road 3950 - 9900

Electronic City 3000 - 6450

Kanakapura Road 3750 - 9550

Bannerghatta Rd 3350 - 8500

Hosur Road 3150 - 8250

11

22

33

44

55

66

87

Micro-Market Price Range Rank Rank Q2-20 Q1-20

Micro-Market Price Range Rank RankQ2-20 Q1-20


Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 20202. Color of the bubble represents price change in Q2 2020, with green color representing price increase and red color price decrease.3. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

LocalityAvg.

PricePrice

Change

AttibeleHoskoteChandapuraSarjapur-Attibele RdRamamurthy NagarKengeri TownKaggadasapuraKengeriGunjurSingasandraKalkereBagalur Main RoadKadugodiHosur RoadElectronic City -3.1%

-3.4%-5.8%3.5%0.0%

-1.2%-1.7%-0.6%-2.9%-2.4%-7.5%-4.1%-3.2%-6.8%-7.1%

4,7614,7114,6944,5264,4934,4924,4924,3654,3344,2884,1873,8383,6323,5623,041

< INR 5,000 psf INR 5,000-6,000 psf INR 6,000-7,000 psf > INR 7,000 psf

Price Analysis Bengaluru | Apr-Jun 2020

- Price rationalisation was mostly observed in the established localities of North Bengaluru, including Hebbal, Horamavu, Hennur, and Malleshwaram witnessingprice decline of 5-7%.

- Localities with price increment in the quarter were mostly concentrated in South Bengaluru, including localities of Begur Road, Uttarahalli, and Koramangala.Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

BanashankariJalahalliArakereBrooke FieldHoodi CircleMarathahalliKundalahalliVijayanagarHSR LayoutMahadevapuraBannerghattaBEML LayoutPanathurHoodi CircleKudlu Gate 1.1%

-3.3%-0.2%-5.4%-7.5%-6.6%-0.2%0.0%2.8%

-5.1%-7.5%-3.6%2.3%0.7%

-7.5%

6,5696,5456,5156,3996,3866,2846,2776,2326,2026,0956,0756,0636,0456,0396,024

LocalityAvg.

PricePrice

Change

Outer Ring RoadBellandurC V Raman NagarHebbal KempapuraKonanakunteYeshwantpurHebbalOld Airport RoadYemalurJP Nagar Phase 1Frazer TownBinnypeteMagadi RoadCooke TownMalleshwaram -7.5%

2.7%0.6%0.0%

-6.0%0.0%

-7.5%-7.5%-5.5%-5.8%-5.8%-6.2%3.0%1.4%

-7.5%

10,2699,8959,7939,5009,2059,1077,7797,6957,5877,4777,3577,3397,2427,1277,010

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q2 2020. This is an interactive table available on Magicbricks.com under Propindex section.2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder floor segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represent the price change in Q2 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.

Q2 2020 Price changes for the city's major localities

LocalityAvg.

PricePrice

Change

JP Nagar Phase 8Electronics City Ph 1Hegde NagarDevanahalliYelahankaChokkanahalliSubramanyapuraTejaswini NagarHosa RoadJP Nagar Phase 5Yelahanka New TownNobel ResidencyBommanahalliGubbalalaKogilu -3.0%

1.5%1.3%0.0%

-1.6%-6.2%-0.4%0.0%

-1.1%0.0%

-3.9%-3.4%-7.5%-1.0%-6.2%

5,2285,2235,1755,1525,1515,1465,1255,1235,1105,0935,0925,0925,0605,0605,037

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Rikitha Murthy | Sr. Research [email protected] [email protected] [email protected] [email protected]

Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.


Sarjapur-Attibele Rd-4.1%

Budigere Cross-3.4%

Electronic City-3.1%

Sarjapur Road-1.8%

Bannerghatta-7.5%

Mysore Road0.8%

BEML Layout-5.4%

Indira Nagar-0.6%

Rajaji Nagar-6.8%

Chandapura-3.2%

Nagarbhavi-5.3%

Begur Road0.3%

Banaswadi0.3%

Gottigere0.9%

Panathur-0.2%

RT Nagar2.8%

Sarjapur2.0%

Varthur-1.3%

Kengeri-0.6%

Hennur-5.0%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsLocalities along East Coast Road, Old Mahabalipuram Road, PH Road and Grand Southern Trunk (GST)Road witnessed price stability

Although the Chennai residential market witnessed a momentary dip due to the COVID-19 crisis, demand foraffordable housing along the major employment hubs, located on East Coast Road, Old Mahabalipuram Road, PHRoad, and GST Road remained intact. In the last couple of years, there has been an increase in the number ofaffordable projects by developers, which is serving well to the rising affordable housing demand across Chennai.Development of industrial estate by SIPCOT, is likely to bring more demand for real estate in peripheral areas.Moreover, with government's focus on infrastructure development, such as ORR Phase II metro, expansion ofInternational Airport, and Monorail corridor, is likely to improve connectivity to the various parts of the city.


-3.1%2.3%13.7%


-0.2%2.4%1.8%

"Prices ofunder-constructionsegment in Chennaishowed a marginal

uptick of just 1.8% overthe last 5 years"

ChennaiApr-Jun 2020

Parameters India Chennai


"Chennai residentialmarket clocked a 2.3%

YoY growth, but therecent pandemic

brought a 3.1% declinein prices in Q2 2020"



Casagrand Builder

Radiance Realty

Alliance Group

TVS Emerald

Puravankara Ltd.

Doshi Housing

Appaswamy Real Estates

Bhaggyam Constructions

Mahindra Lifespace Developers

Brigade Enterprises

Abhiramapuram Mylapore

Akshaya Today Kelambakkam

The Metrozone Anna Nagar

Skc Homes Guduvancheri

Olympia Opaline Navalur

Shanmuga Nivas Medavakkam

Appaswamy Bloomingdale Pammal

Embassy Residency Sholinganallur

Pace Prana Anna Nagar (W)

Park Avenue Kandigai


Market Dynamics



- Civic authorities in Chennai to revampcommercial buildings in localities likeRoyapuram and Teynampet. This isexpected to benefit the nearby areas ofVelachery and Adyar.

- Satellite township development byTamil Nadu Housing Board (TNHB) atThirumazhisai near Sriperumbudur tofurther boost the residential demandalong th Bengealuru- Chennai Highway.

- Construction of two new flyoversbetween Madhya Kailash and Tidel Parkto facilitate vehicle movementbetween Siruseri and Thiruvanmiyur.

"Prices plunge by morethan 1% across most

ready-to-move andunder-construction

categories"


2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

Price Bracket (INR per sqft)< 5,000 5,000-7,000 7,000-9,000 > 9,000


1.4%

-3.2%

-2.0%

-4.0%

-0.1%

-1.9%

-2.9%-3.4%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q2 2020










3 BHK31%

Above 3 BHK3%

2 BHK56%

1 BHK10%

DEMAND

Demand Supply Analysis Chennai | Apr-Jun 2020

Demand-supply mismatch in the INR 5,000-7,000 per sqft price bucket

Mid-segment (2 BHK) properties gaining tractionFocus shifting to mid-segment in theChennai market

- Chennai residential market witnessed maximumdemand (68%) below INR 7,000 per sqft. The cityis maintaining healthy supply-demand balanceas most of the supply is also available below INR7,000 per sq ft.

- The premium properties witnessed momentumlast quarter with almost 20% of the searches onour website were for above INR 9,000 per sq ft.

"87% of the city demand fallsunder the 2 and 3 BHK

configuration, showingdomination of mid-segment

consumers"

- 2 BHK configuration in Chennai, which has beengetting 56% of consumer searches, is wellcomplemented by the supply, specially in newprojects.

- Old Mahabalipuram Road (OMR), GST, Porur,Central Cennai, and Kolathur - Perambur were themost active micromarkets in Q2 2020, primarilydue to active demand from the populationworking in the nearby employment hubsdominated by Information Technologycompanies.

- Medavakkam-Selaiyur and Porur micromarketshave witnessed a significantsurge in demand in Q2 2020, as buyersanticipated the upcoming metro lines tosignificantly enhance the future prospects ofthese locations.



1 BHK8%

Above 3 BHK4%

3 BHK36%

2 BHK52%

SUPPLY

7,000-9,00012%

5,000-7,00034%

> 9,00015%

< 5,00040%



7,000-9,00014%

5,000-7,00025%

> 9,00018%

< 5,00043%












Guduvancheri

Chengalpet

Thiruporur

Avadi


Demand/SupplyDemand

OMR 2950 - 9050GST 3000 - 5250Porur 3800 - 7200Central Chennai 6100 - 18700Kolathur-Perambur 4250 - 7800Velachery 4150 - 9000Medavakkam 3700 - 5750

114263245536

107

OMR 2950 - 9050

GST 3000 - 5250

Porur 3800 - 7200

Ambattur 2950 - 7600

Medavakkam 3700 - 5750

Kolathur-Perambur 4250 - 7800

Velachery 4150 - 9000

11

22

33

44

55

86

67





LocalityAvg.

PricePrice

Change

OragadamThalamburGuduvancheriKelambakkamAvadiSithalapakkamSiruseriMahindra World CityUrapakkamPadurPoonamalleG S T RoadPerumbakkamPerungalathurNavalur -5.2%

-3.5%0.6%

-1.3%4.6%

-4.9%-0.8%-1.6%-5.8%0.0%0.8%

-2.3%-6.2%-7.3%-1.7%

4,3704,2964,2914,2904,2424,2204,1524,1184,0904,0674,0303,9413,7053,6993,651


Price Analysis Chennai | Apr-Jun 2020

- Most of the localities along the East Coast Road, Old Mahabalipuram Road, PH Road and Grand Southern Trunk Road witnessed price stability in Q2 2020.

- Major price dip noticed in the southern parts of the city, such as Thalambur (-7.3%), Navalur (-5.2), Siruseri (-5.8%), and Padur (-4.9%). Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Velachery

Choolaimedu

Arcot Road

Kodambakkam

East Coast Road

Koyambedu

Vadapalani

Saligramam 0.0%

-7.5%

2.4%

5.8%

0.0%

-4.8%

1.6%

-4.8%

8,772

8,626

8,495

8,098

8,009

7,440

7,020

7,016

Locality Avg. PricePrice

Change

Anna Nagar

Thiruvanmiyur

Kilpauk

Adyar

Nungambakkam

T Nagar

Mylapore

Egmore

Mandaiveli -2.1%

-4.3%

3.6%

0.6%

-7.5%

-6.4%

-4.0%

-3.1%

-4.7%

14,791

14,036

13,575

13,011

12,317

12,267

11,375

10,222

9,878




LocalityAvg.

PricePrice

Change

KolathurMadipakkamVanagaramSholinganallurPallikaranaiAmbattur Indus. Est.NolamburPorurPallavaramIyyappanthangalKarapakkamThuraipakkam RoadMogappairKovilambakkamMogappair West -3.6%

2.0%-7.5%-3.0%2.4%

-2.0%-5.4%-3.8%1.1%3.1%

-5.4%-2.7%0.0%

-7.4%-6.0%

5,9955,9705,8365,8165,7915,7405,6415,6135,5945,5515,3675,3565,2625,1685,096

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Rikitha Murthy | Sr. Research [email protected] [email protected] [email protected] [email protected]



Old Mahabalipuram Road-0.4%

Guduvancheri-6.2%

Mangadu-0.7%

Porur-3.8%

Avadi0.8%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsGovernment polices and builder incentives to assist the revival of residential market

After a staggering ~50% return in the last 5 years, the city's prices witnessed a momentary dip of 5.2% in Q2 2020due to the ongoing pandemic. The state government has taken some quick measures to support the falling demandsuch as it dropped the plan to increase stamp duty and registration charges for the time being. To support thesales, the developers started offering incentives such as no EMI until possession and gold vouchers to attract homebuyers. We expect, more builders to follow suit and more such offers in the market in the coming quarter. Accordingto Magicbricks Research, Hyderabad real estate market has solid fundamentals. Government initiatives such aspermits to construct a house through self-certification (built up area <675 sqft), decision to spend INR 50,000 Crorein the next five years for the development of Hyderabad Urban Agglomeration Area, and positive policy for IT/ITeSsector would ensure the long term growth in the market.


-5.2%0.5%54.7%


-0.3%2.4%35.1%

"Under-constructionprices stagnate as

developers resist pricereduction due to rising

costs"

HyderabadApr-Jun 2020

Parameters India Hyderabad


"After a stellar rise of50% in 5 years, the

ready-to-move propertyprices fell by a

significant 5.2%in Q2 2020"



Aliens Group

Aparna Constructions

Incor Infrastructure

SMR Holdings

Lanco Hills Technology Park

NCC Urban Infrastructure

Provident Housing

Lansum Etania Developers

Asrithas Group

Pacifica Companies

Sharvani Heights Chandanagar

Nebula Aavaas Miyapur

Aliens Space Station Gachibowli

Shiny Jewel Kukatpally

Aparna Serene Park Kondapur

Silverline Casa Nizampet

Casa Rouge Kondapur

My Home Avatar Narsingi

Pacifica Hillcrest Gachibowli


Market Dynamics



- Ongoing infrastructure projects suchas Musi River Expressway, Phase IIMetro, Bridge near Panjagutta,conversion of 52 major junctions assignal free zones, and road underbridge near Hitech City, are expected toease connectivity across the city

- State government's 'Look East' policyto develop the eastern part ofHyderabad, gained traction andlocalities such as Uppal, Pocharam,Ghatkesar, and Sagar Highway areexpected to see more real estateactivity in the future.

"Significant pricedecline of 4-6% in

ready-to-moveproperties across all

price brackets"


2014

2015

2016

2017

2018

2019

2020

1,000

2,000

3,000

4,000

5,000

6,000

2014

2015

2016

2017

2018

2019

2020

1,000

2,000

3,000

4,000

5,000

6,000

Price Bracket (INR per sqft)< 4000 4,000-5,000 5,000-6,000 > 6,000


-1.3%

-5.7%

-0.9%

-4.1%

1.5%

-3.6%

0.9%

-4.1%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft








Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under variousprice buckets as on June 2020



1 BHK6%

Above 3 BHK4%

3 BHK38%

2 BHK53%

DEMAND

Demand Supply Analysis Hyderabad | Apr-Jun 2020

Demand-supply match amongst all price buckets

2 and 3 BHKs dominate the city's landscapeInfrastructure and IT developmentdriving the residential market

2 and 3 BHKs continued to witness most tractionin Q2 2020 with 91% of the property searches.The supply side also managed to keep up with thedemand in terms of BHK configurations.

- Some of the top IT companies such as Google,Microsoft, Amazon, Facebook and Salesforce aresetting up offices in Hyderabad and pushingdemand for residential development in the city.

"The affordable housing trendhas continued in Q2 as well, with

more than 50% consumerssearching for 2 BHKs"

- Majority of the searches were for houses pricedless than INR 5,000 per sqft, which correspond toprime localities of Adibatla, Patancheru,Nizampet, Kollur, Uppal, Nagole, and Alwal.

The 'more than INR 6,000 per sqft' segmentreceived just 20% of the consumer searches, eventhough almost 30% of the supply was attributedto this segment, indicating buyer's aversion tothe premium segment in the ongoing crisis.

- Miyapur, Gachibowli, and Kukatpally continuedto be the top 3 micro-markets due to proximity toemployment hubs, affordability, and good civicamenities.



1 BHK3%

Above 3 BHK5%

3 BHK44%

2 BHK48%

SUPPLY

5,000-6,00016% 4,000-5,000

21%

> 6,00028% < 4,000

34%



5,000-6,00013%

4,000-5,00023%

> 6,00019%

< 4,00044%












Patancheruvu

Appa junction

Shamshabad

Kukatpally

Kachiguda

Moula Ali

Kompally

LB Nagar

Adibatla

Medchal

Tellapur

Sun City

Kollur

Uppal

Alwal


Demand/SupplyDemand

Miyapur 2150 - 5700Gachibowli 3850 - 8600Kukatpally 3800 - 8200Jubilee Hills 5800 - 11200Nallaganla-Tellapur 2150 - 7050Kondapur 5300 - 8100Medchal Highway 3150 - 4950

11223344755667

Miyapur 2150 - 5700

Gachibowli 3850 - 8600

Kukatpally 3800 - 8200

Nallaganla-Tellapur 2150 - 7050

Kondapur 5300 - 8100

Medchal Highway 3150 - 4950

Jubilee Hills 5800 - 11200

11

22

33

44

55

86

77





LocalityAvg.

PricePrice

Change

AdibatlaAminpurKollurPatancheruBachupallyBeeramgudaRamachandra PuramPragathi NagarJeedimetlaAlwalSuchitra CircleBandlaguda JagirGajularamaramKompallyNizampet 4.2%

-6.0%-6.2%-4.2%-7.5%-7.5%-7.5%-7.5%1.6%1.7%

-7.5%-7.5%-7.5%-7.5%-4.8%

3,9413,9093,8863,7963,4973,3863,3823,3803,2423,2413,2382,7032,5892,2382,088


Price Analysis Hyderabad | Apr-Jun 2020

- Maximum price decline witnessed in the premium localities in Hyderabad's north-west direction. These include prime localities like Banjara Hills, Jubilee Hills,and Hitec City.

- Price increment was mostly restricted to mid-segment localities such as Narsingi, Beeramguda, and Nizampet, which are located close to the employmenthubs...

LocalityAvg.

PricePrice

Change

Appa Junction

Tellapur

Rajendra Nagar

Hafeezpet

Madinaguda

Kukatpally

Nallagandla

Kokapet

Begumpet 0.4%

0.2%

-4.1%

-7.5%

1.2%

-6.5%

-4.5%

-3.8%

-1.2%

5,829

5,751

5,686

5,541

5,421

5,175

5,121

5,109

5,066


Change

Narsingi

KPHB Colony

Kondapur

Financial District

Gachibowli

Nanakram Guda

Madhapur

Shaikpet

Banjara Hills

Hitec City

Jubilee Hills -7.4%

-6.8%

-6.8%

0.6%

-7.5%

-6.2%

-3.1%

-5.8%

2.3%

-6.0%

1.5%

8,562

7,222

7,173

6,999

6,898

6,726

6,657

6,648

6,501

6,369

6,015




LocalityAvg.

PricePrice

Change

Toli Chowki

Attapur

Uppal

Nagole

LB Nagar

Bollaram

Alkapur Township

Mallampet

Chandanagar

Manikonda

Puppalaguda 3.9%

-2.9%

-3.5%

-7.5%

-6.1%

-7.5%

-7.5%

-7.5%

2.9%

-4.6%

3.5%

4,773

4,661

4,577

4,410

4,392

4,322

4,221

4,159

4,133

4,087

4,009

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Kavya N | Research [email protected] [email protected] [email protected] [email protected]



Rajendra Nagar-4.5%

Suchitra Circle-7.5%

Appa Junction-1.2%

Patancheru-7.5%

Begumpet0.4%

Kompally-6.0%

LB Nagar-7.5%

Adibatla-4.8%

Tellapur-3.8%

Attapur-4.6%

Kollur-7.5%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsPeripheral areas to drive Mumbai's growth post lockdown

Mumbai market, which is India's costliest market, has been facing stagnation for quite some time. The lockdown hasresulted in further decrease at demand as well as supply level. But the market mostly remained intact with onlymarginal price decline of 0.8% in Q2 2020.

However, both the government and developers have undertaken various initiatives to fend off further slowdown inthe market. State government reduced the stamp duty from 6% to 5% till March 2022 while developers extendedsupport in the form of discounts, deferred payment plans, full refund in case of cancellation, digital site visits andhome tours, and online booking options. These initiatives, along with infrastructure projects like metro and plannedsea-link are expected to drive the future of the real estate market.


-0.8%-2.2%-4.1%


-1.4%-2.2%5.1%

"Prices ofunder-construction

segment fell 1.4% thisquarter, while growingmarginally by 5% in the

last five years"

MumbaiApr-Jun 2020

Parameters India Mumbai


"Mumbai'sready-to-move market

has posted negativereturns in the last 5

years"



Lodha Group

Runwal Developers

Kanakia Spaces Realty

Oberoi Realty

The Wadhwa Group

Kalpataru

Rustomjee

Godrej Properties

JP Infra

L&T Realty

Raheja Exotica Madh

Marine Drive Marine Drive

Omkar 1973 Worli

Lodha Park Worli Sea Face

Dharti Nivas Virar East

Beau Monde Prabhadevi

Raheja Sorento Madh

Oberoi Springs Lokhandwala Complex

Imperial Towers Tardeo

Lodha Altamount Altamount Road


Market Dynamics



- Metro Line 2 (DN Nagar-Dahisar)nearing completion would result in ahigher demand from localities along theWestern Express Highway.

- Mumbai Trans Harbour Link expectedto be completed by 2022, to support anincreased demand for Sewri and othercoastal areas in South Mumbai.

- Western suburbs from Bandra toVersova expected to see a rise indemand, ascribed to theBandra-Versova Sea Link, expected tobe operational by 2023.

"Most price segmentswitnessed a price

decline for the quarter"


2014

2015

2016

2017

2018

2019

2020

10,000

15,000

20,000

25,000

2014

2015

2016

2017

2018

2019

2020

10,000

15,000

20,000

25,000



-0.4%-0.7%

-3.0%

0.4%

-1.3%-1.0%

-0.3%-0.7%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











1 BHK37%

2 BHK33%

3 BHK19%

Above 3 BHK11%

DEMAND

Demand Supply Analysis Mumbai | Apr-Jun 2020

Demand for luxury segment matches the supply

1 and 2 BHKs dominate the costly Mumbai marketWestern suburbs are the primedrivers of Mumbai's residentialmarket

Smaller sized homes of 1 and 2 BHKconfigurations are most preferred in Mumbai,with these very configurations making up around70% of the city's demand as well as supply.

"1 and 2 BHKs with prices lessthan INR 10,000 per sqft is the

major criterion of propertysearches in Mumbai"

- Affordablity played a major deciding factor forbuyers in Mumbai, with houses below INR 10,000per sqft making up majority of the demand,representing the peripheral areas of Mira Road,Bhayandar, Vasai, Naigaon, and Virar. Direct railand road connectivity to the major IT/ commercialhubs in western and southern Mumbai, drive thegrowth in these areas.

- Also, the key 'INR 10,000-20,000 per sqft'market in Mumbai is facing a demand-supplymismatch, as the segment contributed to 31% ofthe demand but 41% of the city's supply.

- The western suburbs from Andheri to Dahisarreceived strong demand owing to the presence ofemployment hubs nearby. Moreover, with theMetro line 2 expected to be operational within ayear, these western suburbs would continue togarner demand in future.



1 BHK30%

2 BHK41%

3 BHK23%

Above 3 BHK6%

SUPPLY

15,000-20,00024%

10,000-15,00017%

> 20,00028%

< 10,00031%



15,000-20,00017%

10,000-15,00014%

> 20,00026%

< 10,00043%












Vasai West

Colaba© OpenStreetMap contributors

Demand/SupplyDemand

Beyond Mira Road 3350 - 7350Mira-Bhayandar 6150 - 10550Malad-Kandivali 10200 - 23150Andheri West 9150 - 31050Worli-Lower Parel 24700 - 51450Borivali-Dahisar 9150 - 23450Goregaon 7200 - 27050

11322344556677

Malad-Kandivali 10200 - 23150

Mira-Bhayandar 6150 - 10550

Beyond Mira Road 3350 - 7350

Goregaon 7200 - 27050

Andheri West 9150 - 31050

Borivali-Dahisar 9150 - 23450

Mulund 13350 - 20850

11

22

33

44

55

66

77





LocalityAvg.

PricePrice

Change

Virar EastNalasopara WestNalasoparaVirarNai GaonNaigaon EastVirar WestVasai EastNalasopara EastVasaiKalyanVasai WestPanvelDombivli WestHatkesh Udyog -1.4%

-2.2%-1.7%-1.9%-0.7%-3.9%0.6%

-0.9%3.9%

-1.4%-1.6%0.5%0.3%

-1.7%-1.1%

7,5346,8116,7256,1746,0175,4025,0585,0404,9604,8754,8644,8514,7774,6124,469


Price Analysis Mumbai | Apr-Jun 2020

- Price increment in Mumbai was mostly concentrated along the western suburbs, with localities from Goregaon to Virar witnessing mild price increments.

- Prime localities in South Mumbai like Byculla, Wadala, and Worli witnessed the highest price decline of 4-7%. Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Malad EastKurla WestDevi PadaFilm City RoadThakur ComplexVikhroli WestKandivali WestMaladDahisar WestAkurli NagarLink RoadKandivaliAsha NagarDhanukar WadiMalad West 0.8%

-6.4%-4.4%-0.5%-7.5%-1.8%2.0%

-0.1%-1.6%1.4%

-2.5%1.2%0.0%0.1%

-1.1%

15,77415,74915,71515,69215,67615,64515,56215,43215,39615,37815,37615,36315,20815,07015,049


Change

Veera Desai RoadBhakti ParkGhatkopar EastShastri NagarWadalaWadala EastVakolaVikhroli EastAndheriSantacruz EastKalinaCentral AreaSionYeshodhamAndheri Link Road 0.0%

-1.4%-7.4%7.5%

-4.2%-2.1%0.0%7.5%

-4.6%-4.0%-4.8%0.2%

-6.6%-7.5%-0.2%

22,77422,38222,37022,13322,01221,75621,06320,86120,79120,72320,68920,48120,34520,26620,132




LocalityAvg.

PricePrice

Change

Aarey Milk Colony

Thane

Vaishali Nagar

Dahisar East

Dahisar

Kurar Village

Jankalyan Nagar

Charkop

Lokhandwala Twp

Bhandup

Bhandup West

Kurla East

Gorai

Dindoshi 7.2%

-1.3%

-1.9%

-0.8%

-1.0%

-2.9%

2.4%

-3.9%

-7.5%

3.0%

5.2%

5.0%

-5.2%

7.5%

14,778

14,766

14,686

14,526

14,460

13,852

13,819

13,326

13,122

12,800

12,186

12,164

11,629

10,056

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research [email protected] [email protected] [email protected] [email protected]



Dombivli West-2.2%

Cuffe Parade-2.7%

Panvel-1.7%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsEmerging employment avenues and developing public transport infrastructure fueling housingdemand

Thane has been a favoured destination for affordable and mid-segment home buyers, owing to proximity andexcellent connectivity to major employment hubs of Mumbai and Navi Mumbai. Decrease in property buying budgetand inclination to 'Work From Home' due to the COVID-19 crisis is likely to push demand from Mumbai to affordablesatellite cities like Thane. State Government has announced a reduction in stamp duty from 6% to 5% on allproperties till March 2022, to boost housing sales in Thane which is severely impacted by the ongoing crisis.

The developers including Hiranandani Group, Raunak Group, and Puranik Builders have dolled out various offers anddiscounts to support sales amid lockdown in the Q2 2020.


-0.6%1.9%6.4%


-1.1%1.0%26.0%

"Rising unsoldinventory has resultedin a marginal fall of 1%

QoQ for theunder-construction

segment"

ThaneApr-Jun 2020

Parameters India Thane


"Prices ofready-to-move (RM)segment stagnated

amidst the lockdown"

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price


Lodha Group

Kalpataru

Runwal Developers

Hiranandani Group

Rustomjee

Raunak Group

Puranik Builders

Dosti Realty

Piramal Realty

Damji Shamji Shah Group

Lodha Amara Kolshet Road

Lodha Splendora Ghodbunder Road

Haware Citi Kasarvadavali

Giriraj Apartment Dombivli

Lakeshore Greens Palava

Sai Ram Residency Kalyan West

Poddar Evergreens Badlapur East

Lodha Palava Dombivli East

Uma Ashish Badlapur East

Piramal Vaikunth Balkum village


Market Dynamics



- Growing footprint of IT and industrialsectors in Thane and development ofmetro is likely to boost the residentialmarket of the city.

- Series of upcoming big-ticket infraprojects including the Virar-AlibaugMultimodal corridor and enhancementsto Vasai-Panvel rail corridor, would pushresidential demand in the long term. - Upcoming Mumbai Metro Line 4(Kasarvadavali-Wadala) expected toincrease demand in key areas such asTeen Hath Naka, Ghodbunder Road,Manpada, Majiwada, and Kapurbawdi.

"Amidst flat demand,prices remained almostunaffected, witnessinga negligibe ~ 2% change

across all RM and UCcategories"


2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000

2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000



1.5%

0.4%

-2.0%-1.9%-2.4%

-1.0%

-1.7%

2.0%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











1 BHK52%

2 BHK37%

3 BHK10%

Above 3 BHK2%

DEMAND

Demand Supply Analysis Thane | Apr-Jun 2020

Demand-supply mismatch among all price buckets

1 BHK rules the Thane marketEmployment driven affordable-segment sustaining Thane market

- There is a clear inclination towards smallconfiguration in Thane with 52% of the propertysearches attributed to 1 BHK apartments.However, the market is heading to ademand-supply mismatch among the 1 and 2BHKs as buyer preference shifts from 2BHKs to1BHKs.

"Smaller configuration homesdominate the Thane market as 1and 2 BHKs make up around 90%of the total property searches as

well as listings in Q2 2020"

- The affordable market of Thane, correspondingto 'less than INR 5,000 per sqft' was the mostpreferred in Thane, getting 41% of the consumersearches. This market was significantlyunder-supplied, as only 27% of the supplycatered to this segment.

- Most of the city's affordable supply isconcentrated in the industrial localities on theoutskirts of Thane city like Diva, Bhiwandi,Ambernath, Badlapur, Vasind, Titwala,Asangaon, and Ulhasnagar, which are favouredby the population employed in the industrieshere. And with expanding industrial andmanufacturing operations, these areas areexpected to garner more residential demand infuture as well.

- An oversupply of homes in some major projectsin the city has resulted in a narrowing ofdifference between the new and resale prices.



1 BHK43%

2 BHK44%

3 BHK12%

Above 3 BHK1%

SUPPLY

9,000-13,00028%

5,000-9,00031%

> 13,00015% < 5,000

27%



9,000-13,00022%

5,000-9,00025%

> 13,00011%

< 5,00041%












Badlapur East

Ambernath

Shilphata

Bhiwandi

Vangani

Titwala

Karjat

Kalwa

Neral

Diva


Demand/SupplyDemand

Dombivali 4250 - 8750Western Thane 6800 - 20650Ghodbunder Road 6950 - 12550Ambernath-Badlapur 3150 - 5200Kalyan 2950 - 8000Majiwada 8450 - 14300Kolshet 8800 - 16650

11223354456677

Dombivali 4250 - 8750

Ghodbunder Road 6950 - 12550

Western Thane 6800 - 20650

Majiwada 8450 - 14300

Kalyan 2950 - 8000

Kolshet 8800 - 16650

Ambernath-Badlap.. 3150 - 5200

11

22

33

54

45

66

77





LocalityAvg.

PricePrice

Change

Boisar

Vasind

Neral

Asangaon

Karjat

Mumbra

Ulhas Nagar

Badlapur West

Badlapur

Ambernath West

Badlapur East

Ambernath

KasheliA b th E t

-2.9%

-2.6%

4.5%

-4.0%

3.2%

5.1%

5.0%

-7.5%

7.5%

5.0%

-6.1%

0.7%

-5.5%

4,192

4,160

4,050

4,044

3,987

3,957

3,927

3,751

3,739

3,423

3,282

3,276

3,065


Price Analysis Thane | Apr-Jun 2020

- Price growth was mostly witnessed in developing areas such as Badlapur, Karjat, Ulhasnagar, Asangaon, and Titwala.

- Prime localities such as Ghodbunder Road, Hiranandani Estate, Kapurbawdi, Owale, and Kavesar faced most of the price decline though established poshlocalities witnessed some price increment.


LocalityAvg.

PricePrice

Change

Kalwa

Bhayanderpada

Brahmand

Parsik Nagar

Anand Nagar

Kavesar

Ghodbunder Road

Waghbil

Dhokali

Balkum village

Hiranandani Estate

Kolshet Road

M ji d

0.5%

-7.5%

-2.9%

-7.5%

3.3%

-4.2%

-2.6%

1.8%

1.8%

-2.9%

-4.8%

-3.0%

11,574

11,378

10,885

10,592

10,362

10,096

9,983

9,715

9,710

9,675

9,102

9,076


Change

Vasant Vihar

Pokharan RoadNo. 2

Panch Pakhadi

Teen Hath Naka

Naupada

HiranandaniMeadows 0.3%

3.2%

7.3%

-5.4%

2.1%

4.5%

17,556

16,693

16,664

13,953

13,835

13,399




LocalityAvg.

PricePrice

Change

Taloja

Kalyan East

Palava

Shilphata

Dombivli East

Kalyan

Dombivli

Kalyan West

Dombivli West

Thakurli

Kasarvadavali

Owale -5.5%

0.1%

-2.3%

-2.2%

0.4%

-0.1%

-3.3%

-2.4%

-3.1%

0.9%

-3.3%

-1.9%

8,914

8,854

7,103

6,811

6,651

6,374

6,227

6,089

6,009

5,927

5,569

5,318




Asangaon5.0%

Shilphata-3.1%

Bhiwandi-7.5%

Titwala4.5%

Vasind0.7%

Palava0.9%

Taloja-1.9%

Neral-6.1%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsIndustrial development and public transport driving growth to peripheral areas of Pune

Pune residential prices have mostly remained stagnant in the last 5 years, as the city's real estate market moved toits peripheral areas due to industrial development,connectivity, and affordability.

City's prices declined marginally by about 1.6% in Q2 2020 primarily due to COVID-19 impact. However, the marketperformed relatively well in comparsion with other major cities in India, witnessing ~700 property registrationswithin a week of opening the registration offices post the lockdown. Additionally, a specialized program run byNAREDCO since last month, to train and employ workers from nearby areas in Pune, helped resuming constructionactivities affected by lockdown. This would help maintain supply of housing units and meet the MahaRERA deadlines.


-1.6%-1.9%3.5%


-1.4%-1.2%1.3%

"Development inmostly the peripheral

areas has keptunder-construction

prices flat in the longterm"

PuneApr-Jun 2020

Parameters India Pune


"Price of ready-to-move(RM) segment grew

just 3.5% in the last 5years"



Kolte-Patil Developers

Godrej Properties

Kumar Properties

Pride Purple Properties

Marvel Realtors

VTP Realty

Paranjape Schemes Construction

Mantra Properties

Nyati Group

Goyal Ganga Group

Nanded City Sinhagad Road

Lodha Belmondo Mumbai Pune Hwy

Rohan Mithila Viman Nagar

Xrbia Hinjewadi Hinjewadi

Little Earth Ravet

Life Republic Hinjewadi

Bhavani Park Society Aundh

Madhukosh Sinhagad Road

Hari Ganga Vishrantwadi

Marvel Zephyr Kharadi


Market Dynamics



- Reduction in stamp duty by 1% in Punefrom April 2020 till March 2022, toencourage home buying

- Large investments in industrial andlogistics sectors are expected in Pune,under the freshly launched 'Made InMaharashtra' campaign. This isexpected to specially benefit theperipheral areas such as Talegaon andChakan.

- Upcoming metro lines and ring road toenhance connectivity to peripheralareas of Wagholi, Nanded, Pirangut,Khed Shivapur, and Loni Kalbhor; furtherincreasing demand in these areas.

"Prices in theestablished suburbsand upmarket areas

decline by 1.5%- 2.5%QoQ, while prices in

other areas remainedflat"


2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000



-0.3%

-0.6%

-1.6%-1.5%

-0.1%

-0.9%

-2.6%

-1.3%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











1 BHK27%

2 BHK47%

3 BHK21%

Above 3 BHK5%

DEMAND

Demand Supply Analysis Pune | Apr-Jun 2020

Demand-supply matchs across all price brackets

Demand shifting to 1BHK configurationsIndustrial development drivingdemand to peripheral areas

Pune has a balanced market, with demand in linewith the supply, for most of the BHKconfigurations. Pune market is well distributedacross affordable and mid segments, with 2 BHKshaving the largest share of the demand andsupply, while 1 and 3 BHKs contribute almostequally to the pie.

"2 BHK in the price range of INR5,000 and 7,500 per sqft,

continues to be Pune's dominantproperty search criterion"

- There was a rise in demand for peripherallocalities priced below INR 5,000 per sqft such asDhanori-Lohegaon, Talegaon, Chakan, Wagholi,Handewadi, Vadgaon Budruk, and HinjewadiPhase 3 due to growing industrial and IT/ITeSpresence surrounding these areas, along withplanned infrastructure projects to easeconnectivity. - Localities surrounding IT/ ITeS hubs, such asMagarpatta, Baner, Bhosari, Yerwada, Kharadi,and Aundh which are priced in the range of INR5,000-10,000 per sqft, made up aroundtwo-thirds of the total demand. These localitiesrepresent prominent suburbs of Pune, and wouldcontinue to witness high demand in the nearfuture, owing to an expected recovery in the ITand telecom sector amongst others, post theCovid crisis.



1 BHK18%

2 BHK53%

3 BHK25%

Above 3 BHK4%

SUPPLY

7,500-10,00016%

5,000-7,50049%

> 10,0006% < 5,000

29%



7,500-10,00015%

5,000-7,50041%

> 10,0008%

< 5,00036%












Sinhagad Road

Hinjewadi

HadapsarBhugaon

Wagholi

Chikhali

Dhayari

Bhosari

Chakan

Pashan

Pimpri

Katraj

Moshi

Ravet

Undri

Sus


Demand/SupplyDemand

Hadapsar 3900 - 10100Airport Road 5200 - 12050Dhayari-Narhe 3250 - 8000Baner 5250 - 9250Kondhwa-Wanwadi 4400 - 10900Paud Road 4650 - 12350Wakad 5200 - 8950

21125344356677

Baner 5250 - 9250

Hadapsar 3900 - 10100

Airport Road 5200 - 12050

Wakad 5200 - 8950

Hinjewadi 4250 - 6750

Undri-Pisoli 3550 - 7450

Paud Road 4650 - 12350

21

42

13

54

65

76

87





LocalityAvg.

PricePrice

Change

ChakanLoni KalbhorTalegaon DabhadeRaghav NagarPirangutAlandiShivanePisoliHandewadiHandewadi RoadVadgaon BudrukPhursungiNarheKiwaleSasane Nagar -1.2%

-2.8%-2.1%-4.0%2.8%

-1.7%3.1%

-1.8%0.3%1.7%2.2%

-7.0%-1.4%-3.7%-2.0%

4,8244,7294,6874,6574,6084,5194,4214,3544,3444,2254,1214,0143,9913,5883,518


Price Analysis Pune | Apr-Jun 2020

- Localities around IT hubs such as Magarpatta, BT Kawade Road, Shivajinagar, Vishal Nagar, Baner Road, and Yerwada and other prominent localities such asWagholi, Pirangut, Warje and Dhankawadi witnessed marginal price increment.

- Most of the localities along the Mumbai Highway such as Wakad, Hinjewadi, and Pimple-Saudagar witnessed a price decline in Q2 2020.Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

B.T Kawade RoadBanerPimple NilakhWanwadiBibwewadiBaner-Pashan Link RdAmanora Park TownYerawadaNew Kalyani NagarMarket YardViman NagarMagarpatta CityGangadham RoadCampGultekdi 3.4%

-5.5%5.4%1.7%0.9%2.4%

-1.5%4.2%

-1.7%-1.1%-5.1%-2.6%2.2%

-1.6%1.0%

9,0598,7618,4728,4548,3018,2808,2398,0168,0167,7647,7157,7147,6907,5957,520

LocalityAvg.

PricePrice

Change

Sadashiv Peth

Koregaon Park

Erandwane

Model Colony

Shivaji Nagar

Karve Road

Boat Club Road

Law CollegeRoad

Prabhat Road -1.0%

-5.5%

-7.5%

-1.6%

2.2%

0.2%

-5.6%

-1.9%

-6.7%

14,939

13,733

13,117

13,098

12,644

12,574

12,094

10,871

10,011




LocalityAvg.

PricePrice

Change

ChikhaliMarunjiCharholi BudrukPaud RoadKondhwa BudrukLohgaonDhayari Phata RdMamurdiManjriKatraj Kondhwa ..DhankawadiAmbegaon BudrukManjri BudrukHinjewadi Phase 3Punawale -2.3%

-3.7%-2.4%0.5%2.7%

-2.3%2.0%

-2.5%-2.2%-2.7%-7.5%1.1%3.1%

-0.9%0.5%

5,3495,2745,2715,2495,2425,2195,2055,1605,1485,1275,1235,1095,1085,0345,000




Talegaon Dabhade-1.4%

Hinjewadi Phase 3-3.7%

Charholi Budruk3.1%

Loni Kalbhor-3.7%

Dehu Road-1.9%

Phursungi-4.0%

Bhugaon-1.1%

Pirangut2.2%

Wagholi2.3%

Gahunje0.5%

Chikhali0.5%

Shivane0.3%

Dhayari1.1%

Bhosari2.4%

Pimpri-6.5%

Manjri2.0%

Aundh1.2%

Alandi1.7%

Katraj-1.1%

Moshi-2.2%

Camp-5.5%

Pisoli-1.8%

Sus-0.8%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsStrong fundamentals sustain the long term potential of Navi Mumbai

Navi Mumbai has historically grown as an affordable alternative to Mumbai for both commercial and residenialsegments of real estate. Inspite of a country-wide lockdown trigerring varying levels of price decline across cities,Navi Mumbai managed to ward off any major price decline on the back of a strong commercial segment and wellplaced residential localities around economic hubs.

Additionally, even though the buyer interest was temporarily disrupted due to the lockdown, developers seem to beholding on to their inventory rather than offering steep discounts to increase sales, in anticipation of improvedmarket conditions by the year end, owing to the city's strong fundamentals.


-0.4%3.0%18.2%


-0.5%-2.0%20.5%

"Theunder-construction

segment of NaviMumbai has been rising

since 2014, but pricesfell by 2% in the last

one year"

Navi MumbaiApr-Jun 2020

Parameters India Navi Mumbai


"Prices ofready-to-move (RM)

properties marginallyfell by 0.4% QoQ, but

still managed a growthof 3% YoY"



Paradise Group

Bhagwati Group

Akshar Group

Adhiraj Constructions

Indiabulls Greens

Gajra Developers

Juhi Developers

Arihant Superstructures

Marathon Realty

Tricity Reality

Moraj Residency Sanpada

Indiabulls Greens Panvel

Fortune City Panvel

Sidhivinayak Kopar Khairane

Ekvira Complex Rabale

Govinda Sector 35-Khargar

Sairaj Golden View Old Panvel

Bhagwati Greens Kharghar

Haware Karekars Nisarg Panvel

Sky Home Kharghar


Market Dynamics



- Investment hotspot of Ulwe likely tosee continued rise in demand on theback of developing civic infrastructure,as well as newly operational railconnectivity from Kharkopar to Neruland Belapur.

- Reduction in stamp duty by 1% toreduce total cost of buying a home inNavi Mumbai. - Economic slowdown expected tofurther prompt businesses and homebuyers to shift to lower priced satellitecities like Navi Mumbai, therebyincreasing demand.

"Except the premiumsegment, most other

price bracketswitnessed mild price

decline"


2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000

2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000



-1.5%

-0.7%

-1.0%

-0.4%

0.1%

-1.6%

-0.5%

0.8%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











1 BHK46%

2 BHK39%

3 BHK12%

Above 3 BHK3%

DEMAND

Demand Supply Analysis Navi Mumbai | Apr-Jun 2020

Demand-supply mismatch amongst lower price buckets

1 BHK most demanded configuration, followed by 2 BHKCommercial hubs and upcoming infrasustain Navi Mumbai market

While smaller configuration homes still continueto be preferred by buyers in Navi Mumbai, thedemand for 1 BHK homes has gone down to 46%from 50% in the last quarter. However, there isstill a noticeable demand-supply mismatch for 1BHKs in the market.

"1 and 2 BHK most demandedconfiguration in Navi Mumbai

as buyers look for affordabilityin a costly market"

- Developing localities priced within INR 7,000per sqft such as Taloja, Panvel, Karanjade, andDronagiri have witnessed majority of thedemand, owing majorly to the upcominginternational airport and metro line. However,the supply has not been able to keep up with thedemand for this price segment.

- Major areas surrounding IT and industrial hubs,including Airoli, Ghansoli, Kharghar, CBDBelapur, Nerul, Sanpada, and Kopar Khairanewhich are priced above INR 11,000 per sqft arewell catered, with respect to the demand inthese areas.

- However, the critical INR 7,000- 9,000 per sqftsegment has become oversupplied in recentyears. High levels of unsold inventory built up invarious large scale residential projectsundertaken by developers in recent years inlocalities such as Kharghar, Kalamboli, OldPanvel, New Panvel, Kamothe, Bamandongri, andUlwe.



1 BHK37%

2 BHK47%

3 BHK14%

Above 3 BHK2%

SUPPLY

9,000-11,00016%

7,000-9,00028%

> 11,00020%

< 7,00037%



9,000-11,00013%

7,000-9,00019%

> 11,00020%

< 7,00048%












Seawoods

Karanjade

Dronagiri

Road Pali

Ghansoli

Airoli

Ulwe


Demand/SupplyDemand

Panvel 4000 - 9300Ulwe 6000 - 9050Vashi 9150 - 17800Kharghar 7050 - 10950Kamothe 6200 - 9050Airoli 9500 - 14300Nerul 10150 - 16450

11223344657657

Ulwe 6000 - 9050

Panvel 4000 - 9300

Kharghar 7050 - 10950

Taloja 4350 - 8850

Kamothe 6200 - 9050

Airoli 9500 - 14300

Vashi 9150 - 17800

11

22

33

44

55

66

77





LocalityAvg.

PricePrice

Change

Rasayani

Taloja

Dronagiri

Palava

Karanjade

New Panvel East

New Panvel

Panvel East

Panvel

Sector 30-Khargar

Taloje Panchanand 0.6%

-3.8%

-1.7%

-5.2%

-3.6%

-1.9%

-1.7%

0.9%

0.3%

-1.9%

1.0%

6,980

6,923

6,725

6,692

6,577

6,022

5,982

5,927

5,325

5,318

3,512


Price Analysis Navi Mumbai | Apr-Jun 2020

- Most of the localities on the Thane-Belapur Road had a positive price change for the quarter, as it has access to most employment hubs in and around NaviMumbai. In particular, Airoli, Kopar Khairane, Sanpada, and CBD Belapur, had price increment of 1-5%.

- Price decline was restricted to peripheral localities of Panvel, Taloja, Karanjade, and some sectors of Kharghar, where prices fell by 1.5-4%.Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Kharghar

Sector 11-Khargar

Sector 19-Khargar

Sector 12-Khargar

Sector 15-Khargar -1.8%

-4.0%

0.0%

-4.1%

0.8%

10,369

9,249

9,215

9,175

9,086


Change

Kopar Khairane

Belapur

Ghansoli

Airoli

CBD Belapur

Seawoods

Nerul

Vashi

Sanpada

Palm Beach Rd 0.4%

2.9%

-4.6%

1.7%

1.6%

4.4%

0.9%

0.4%

-2.3%

4.9%

18,126

15,173

13,990

13,305

12,614

12,376

11,892

11,795

11,708

11,442





Change

Old Panvel

Kalamboli

Road Pali

Ulwe

Bamandongri

Kamothe

Khanda Colony

Sector 37-Khargar

Sector 34-Khargar

Sector 36

Sector 35-Khargar

Sector 18-Khargar

Sector 21-Khargar

Sector 20-Khargar -4.0%

-2.9%

1.9%

0.6%

1.0%

-4.8%

-2.3%

-3.8%

0.9%

1.4%

0.5%

3.5%

3.3%

4.7%

8,935

8,871

8,752

8,587

8,500

8,307

8,243

7,749

7,676

7,650

7,606

7,357

7,324

7,002




Seawoods1.6%

Karanjade-1.7%

Dronagiri0.3%

Rasayani1.0%

Ulwe0.5%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsGurugram residential market prices decline marginally

Gurugram residential property prices witnessed only a slight decline in Q2 2020, even as most other TIER I citieswitnessed price decline of 2-6% amidst the lockdown. Gurugram property prices, which were on a gradual declinesince 2016, resisted any further downward pressure even as the crisis hit. However, there was a complete halt innew launches.

In the long run, the city's real estate market is likely to see action in the south direction towards Sohna, as notableupcoming infrastructure projects such as the construction of Sohna Elevated Road, metro line through Golf CourseExtension till Manesar, and planned 50,000 Hectare Smart city would support the real estate growth in the area.


-0.4%0.7%-4.5%


-0.3%-0.3%5.0%

"Theunder-construction

prices witnessed only5% increase in the last5 years, and remained

stagnant on YoY basis"

GurugramApr-Jun 2020

Parameters India Gurugram


"The buyers remainedin favor of ready

properties, and theprices witnessed 0.7%

YoY increase in thissegment"



DLF Ltd.

Emaar India

M3M India

Unitech Group

Vatika Group

Godrej Properties

Ireo Management

Bestech Group

Signature Global Group

ATS Infrastructure

Valley View Estate Faridabad Road

Tulip Lemon Sector 69

Tulip Violet Golf Course Road

Signature Global Park Sohna Sector 36

Ansals Palam Vihar Palam Vihar

Suncity Avenue 102 Sector 102

Godrej Summit Sector 104

M3M Golf Estate Sector 65

Central Park 2 Sector 48

Essel Towers M G Road


Market Dynamics



- Gurugram Metropolitan Development Authority (GMDA) has divided Gurugram into six sub-cities to put greater emphasis on infrastructure development. The GMDA has increased its capital budget for infrastructure projects by 31%, which is likely to provide impetus to city's real estate sector.

- Development of a cultural center inSector 56 and a new stadium in

Wazirabad to push real estatedemand in nearby Sectors

57, 53 and 55

"The Premium segmentwitnessed a QoQdecline for both

under-construction andready-to-move

segments"


2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000

2014

2015

2016

2017

2018

2019

2020

5,000

6,000

7,000

8,000

9,000

10,000



-1.1%

-0.1%-0.2%

0.7%0.4%

-0.2%

-1.8%-1.9%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft



Note: The above table represents the top projects byconsumer preference on Magicbricks website in Q2 2020








1 BHK8%

2 BHK26%

3 BHK48%

Above 3 BHK18%

DEMAND

Demand Supply Analysis Gurugram | Apr-Jun 2020

Demand-supply mismatch for 'less than INR 5,000 per sqft' segment

3 BHK configuration dominates the Gurugram residential marketMid and premium segments continueto drive Gurugram market

- Nearly 75% of the total demand in Gurugramwas concentrated in the 'below INR 7,500 persqft' segment, which is quite high as compared toits counterpart satellite city of Noida, where,most of the demand is concentrated in 'below INR4,000 per sqft' segment.

"Proximity to major employmenthubs, excellent connectivity to

Manesar Industrial Area and otherparts of the city via Kundli Manesar

Palwal Expressway, SouthernPeripheral Road and well-developed

social infrastructure has made SohnaRoad a realty hotspot"

- 3 BHK configuration dominates the residential market as it accounted for around half of the total demand (consumer preference) as well as supply (active listings)

- While the 1 BHK supply continues to be plaguedby density norms problem, 2 BHKs witnessed aslight demand-supply mismatch as the Gurugrammarket fails to offer the required level ofaffordable segment supply

- Due to the influx of the working-classpopulation and supported by variousinfrastructure developments, real estate focus isslowly shifting back to Sohna Road, which is alsothe top micro-market by consumer searches forthe quarter.



1 BHK2% 2 BHK

19%

3 BHK52%

Above 3 BHK27%

SUPPLY

7,500-10,00023%

5,000-7,50038%

> 10,00014% < 5,000

24%



7,500-10,00016%

5,000-7,50037%

> 10,00011%

< 5,00036%












Ashok Vihar Phase 3 Extension

Dwarka Expressway

South City 1

Sector 70ASector 82A

Sector 102Sector 104

Sector 109

Sector 54

Sector 65

Sector 68

Sector 70

Sector 79

Sector 92

M G RoadSector 5

© OpenStreetMap

Demand/SupplyDemand

Sohna Road 4950 - 11300New Gurgaon 2550 - 8150Golf Course Extn 4100 - 12650Old Gurgaon 2650 - 11050DLF Sectors 6450 - 13500Dwarka Expressway 2700 - 9250Golf Course Road 6500 - 25850

11223364458657

Golf Course Extn 4100 - 12650

Sohna Road 4950 - 11300

New Gurgaon 2550 - 8150

Dwarka Expressway 2700 - 9250

Golf Course Road 6500 - 25850

DLF Sectors 6450 - 13500

Sushant Lok 2 & 3 5050 - 8700

11

22

33

54

45

66

77





LocalityAvg.

PricePrice

Change

Rajendra ParkSector 105Sector 95Sector 89Sector 93Sector 103Sector 91Sector 92Sector 37CPataudi RoadSohna Sector 36Sector 90Sohna Sector 2DhorkaSector 37D -1.8%

2.0%2.0%

-1.7%2.6%2.0%3.5%2.9%0.6%

-0.9%3.5%2.1%4.8%

-2.5%-2.0%

4,7814,7794,7644,7614,7264,7064,6974,6524,5494,5203,9903,6943,6663,2873,248


Price Analysis Gurugram | Apr-Jun 2020

- Most of the price increment in Gurugram was concentrated in the region of New Gurugram, while Sohna Road and Golf Course Road also had a number oflocalities with slight price increments.

- Most localities in the affordable and mid segments, in 'less than INR 7,500 per sqft' bracket, witnessed a price increment during Q2 2020.Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Sector 47Fazilpur JharsaSector 45Sector 48Sector 72Sector 111Sector 67ASushant Lok 1 Block CSushant Lok 1Sector 61SuncitySushant Lok 1 Block BSouth City 1Sector 63Sector 60 2.0%

2.0%-0.3%2.4%2.0%

-2.3%6.3%7.5%

-1.1%-0.1%-0.6%-7.5%0.9%0.5%

-7.5%

8,8218,6188,4638,4488,4318,4318,3938,3518,1507,9137,9087,8047,7257,7127,581

LocalityAvg.

PricePrice

ChangeSector-25Sector 65DLF City Phase 1Sector 28Cyber CitySector 30Sector 58Sector 27Sector 53Sector 59M G RoadSector 43Sector 24Golf Course RoadDLF Phase 5Sector 54Sector 42 -7.5%

7.5%0.3%2.3%

-7.5%1.7%

-1.0%5.2%

-4.7%-7.5%1.2%

-0.5%2.0%

-4.7%4.3%

-0.3%-0.6%

20,70713,69112,16611,93111,34411,25811,17910,95210,79210,70610,53210,43010,34910,21110,09810,02810,025


Disclaimer: The data represented above is compiled by Magicbricks from multiple sources. Magicbricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.


LocalityAvg.

PricePrice

Change

Sector 7New GurgaonSector 79Sector 108Sector 83Sector 77Sohna Sector 33Dwarka ExpresswaySector 82Palam ViharNational Highway 8Sector 86Sector 102Sector 88ASector 69 -1.4%

4.8%1.1%3.2%1.7%5.7%0.5%2.1%

-0.4%0.2%0.7%

-6.0%4.5%2.6%5.5%

6,0976,0726,0205,9655,8935,8805,7985,7625,6845,6175,5675,5585,5125,4535,143

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Swati Suri | Senior Research [email protected] [email protected] [email protected] [email protected]



New Gurgaon2.6%

Pataudi Road2.0%

Sector 70A-4.6%Sector 81A

7.5%

Sector 1021.1%

Sector 222.8%

Sector 24-7.5%

Sector 632.0%

Sector 677.5%

Sector 794.5%

Sector 910.6%

Sector 75.5%

© OpenStreetMap

-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsCOVID-19 resulted in dull activity in the residential market in Delhi but prices remained intact

The property market in Delhi remained dull and witnessed reduced activities in Q2 2020. Both demand and supplyregistered a decline of 11% and 38%, respectively on a QoQ basis. However, property prices remained intact duringthe quarter and we observed only 2% decline in price in Delhi on a QoQ basis. This shows that although the overallmarket activity has declined due to the pandemic, there is not much distress in the market.

We also witnessed some positive price trends in the peripheral micro-markets abutting Gurugram and Noida.Towards Gurugram, localities along MG Road such as Chhattarpur, Mehrauli and Vasant Kunj along with localitiesabutting NOIDA such as Indraprastha Extension and Vasundhara Enclave witnessed positive price growth duringQ2 2020.


-2.3%-2.7%-4.2%


-1.6%-3.3%-6.9%

"Under-constructionsegment continued its

downward pricetrajectory, falling 1.6%

QoQ, as the COVIDcrisis and unsoldinventory added

pressure."

DelhiApr-Jun 2020

Parameters India Delhi


"Ready-to-moveproperty prices fell by

2.3% QoQ, washingaway the gains made

during 2019."

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + volume of property searches ++ volume of active listings +++ change in the weighted average price


Delhi Development Authority (DDA)

DLF Ltd.

S B Associates

Shri Laxmi Properties

Vasant Builders

Planner N Maker

Mitya Infratech

Prime Associates

Unity Group

Emaar India

DLF Chattarpur Farms Chhattarpur

Freedom Fighter Enclave Saket

DLF Capital Greens Moti Nagar

JVTS Gardens Chhattarpur

Paryavaran Complex Saket

Partap Homes Uttam Nagar

Anupam Enclave Saket

DDA Flats VK Vasant Kunj

Adarsh Homes Dwarka Mor

The Amaryllis Karol Bagh


Market Dynamics



- Rail Land Development Authority toredevelop New Delhi Railway Station,for leveraging the real estatedevelopment potential of 110 acres ofrailways' land, uplifting the region.

- Delhi Development Authority (DDA)preparing the launch of its HousingScheme 2020, by July, which will have5,000 flats in Dwarka and Jasola areas.

- DDA to come up with Delhi's nextMaster Plan, MPD-2041, which isexpected to incorporate post-COVIDnorms in planning for housing, mobilityand public spaces.

"Prices dropped acrossmost budget

categories, with thehighest price decline

witnessed in thepremium properties

costing more than INR15,000 per sqft."


2014

2015

2016

2017

2018

2019

2020

8,000

10,000

12,000

14,000

16,000

2014

2015

2016

2017

2018

2019

2020

8,000

10,000

12,000

14,000

16,000



-1.6%

1.1%

-0.9%-0.5%

-0.1%

-2.1%

-2.7%-3.0%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











Above 3 BHK17%

3 BHK37%

2 BHK35%

1 BHK11%

DEMAND

Demand Supply Analysis Delhi | Apr-Jun 2020

Demand-supply mismatch with lower priced properties being under-supplied

3 BHK most sought after configuration when compared to supply2 and 3 BHKs driving Delhi market inadverse times

In Q2 2020, affordable houses, especially 2 and 3BHKs, which cost below INR 10,000 per sqft,witnessed better traction compared to otherconfigurations, making up for a substantial 3out of 4 property searches in Delhi.

"Demand-Supply mismatchin affordable housing is evident,with a 10% gap in the city's pie,

in both 2 BHKs and 'less thanINR 5,000 per sqft' segments"

- Demand for the 'INR 5,000-10,000 per sqft' and'INR 10,000-15,000 per sqft' price range waswell catered, with negligible demand supplygap. This price range includes most of thenon-posh residential localities and sub-districts,including highly searched areas of Dwarka andRohini.

- Higher supply and reduced demand for largerconfigurations (above 3 BHKs) and properties in>INR 15,000 per sqft price bracket also lead to aslight demand-supply mismatch.

- During this period of COVID-19 crisis, Dwarka,MG Road, Vasant Kunj and Saket micro-marketswitnessed higher consumer activity, owing totheir proximity and better connectivity to thevarious employment hubs and tech parks ofGurugram. The western parts of the city,including areas like Dwarka, Uttam Nagar andJanakpuri, also witnessed demand for homes forsimilar reasons.



Above 3 BHK22%

3 BHK44%

2 BHK27%

1 BHK8%

SUPPLY

10,000-15,00017%

5,000-10,00032%

> 15,00019% < 5,000

31%



10,000-15,00016%

5,000-10,00030%

> 15,00012%

< 5,00042%












Vasundhara Enclave

Dwarka Sector 21

Paschim Vihar

Vasant Vihar

Narain Vihar

Chhattarpur

Sarita Vihar

Shahdara


Demand/SupplyDemand

Dwarka 3550 - 10750M G Road 3300 - 5650Vasant Kunj 10500 - 19300Saket 4300 - 8700Janakpuri 7050 - 12550Mayur Vihar 7050 - 13950Uttam Nagar 3350 - 5300

11725324453697

Dwarka 3550 - 10750

Uttam Nagar 3350 - 5300

Vasant Kunj 10500 - 19300

Janakpuri 7050 - 12550

Mayur Vihar 7050 - 13950

M G Road 3300 - 5650

Rohini 8000 - 17350

11

32

23

44

55

96

87





LocalityAvg.

PricePrice

Change

KhanpurGovindpuri MainChhattarpurOm ViharSainik FarmBurariMehrauliMohan GardenMatialaDwarka MorNawadaUttam NagarJamia NagarUttam Nagar WestUttam Nagar East -1.5%

1.6%5.3%2.4%2.0%3.7%2.0%3.3%3.0%1.0%0.7%7.5%2.9%

-3.5%3.3%

4,5954,5694,5284,4834,4784,4524,3644,3184,2144,1994,1944,1934,1553,8573,778


Price Analysis Delhi | Apr-Jun 2020

- Price growth and property searches were mostly concentrated along the Outer Ring Road and in the peripheral micromarkets of Delhi. Janakpuri, Tilak Nagar,Chhattarpur, Rohini and Indraprastha Extn witnessed slight price increase during Q2 2020.

- Localities like Greater Kailash 2, Chittaranjan Park and Saket, which witnessed decent volumes of property searches, also faced substantial price decline.Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Mayur ViharPatparganjJanakpuriPitampuraIndraprastha Extn.Rajouri GardenRohiniMayur Vihar 1KalkajiVivek ViharMoti NagarKirti NagarModel TownAlaknandaRohini Sector 14 -7.5%

4.5%-5.7%-2.4%-7.5%-7.5%-5.9%-2.8%-4.1%-1.0%3.6%

-6.2%6.6%1.0%

-1.8%

13,37012,97012,58411,98511,64011,59111,50110,98710,85410,73510,47810,36310,31610,30810,154


Change

Surajmal ViharPunjabi Bagh (W)SaketKailash ColonyEast Of KailashGreen Park ExtnJangpuraGreater Kailash 1Geetanjali Encl.Greater KailashGreen ParkGreater Kailash 2GK Enclave 2Greater Kailash 3Lajpat Nagar 3 -7.5%

3.3%1.0%

-3.4%-7.5%-3.9%-5.8%-1.4%-5.4%-7.5%-3.9%-7.5%-2.3%1.0%

-7.5%

19,20219,03519,00218,68418,35218,05618,03217,99117,92117,47216,17916,00015,85015,56815,191




LocalityAvg.

PricePrice Change

Mahavir EnclaveShahdaraKrishna NagarLaxmi NagarTilak NagarVirender NagarRohini Sector 22Rohini Sector 25Dwarka Sector 8Rohini Sector 23Dilshad GardenHari NagarRohini Sector 24Dwarka Sector 3Dwarka Sector 13 2.1%

-1.8%-1.4%7.5%1.0%5.0%

-3.3%-1.7%4.3%

-5.2%7.5%

-3.5%-7.5%-3.7%4.5%

8,2988,2858,2428,0507,7917,7017,4227,4027,2367,0526,8265,9125,7645,4535,420

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Suneet Saxena | Assistant Manager [email protected] [email protected] [email protected] [email protected]



New Rajendra Nagar-2.8%

Vasundhara Enclave0.2%

Dwarka Sector 220.3%

Rohini Sector 224.3%

Vasant Vihar-2.9%

Laxmi Nagar-3.5%

Model Town-5.7%

Sarita Vihar-0.8%

Ashok Vihar2.6%

Pitampura-6.2%

Shahdara-3.7%

Mehrauli3.0%

Khanpur3.3%

Burari1.0%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsHousing sales and launches remained sluggish, while prices declined moderately

The outbreak of COVID-19 and the resultant lockdown put new launches in Kolkata on hold, severely impacting bothhousing demand and supply. As a result, the city witnessed muted sales and launches during Q2 2020, and a pricedecline of 1.3% QoQ. While the pandemic raised multiple challenges for developers such as liquidity crunch, laborshortage, disrupted supply chain and rising operating costs, it also pushed buyers to defer their purchase decision inthe wake of job uncertainty, pay cuts and related liquidity stress. Most of the under-construction projects are likelyto be delayed as West Bengal HIRA has extended the project deadlines by 9 months.

The pandemic has impacted the overall sentiment and thus even the high traction localities of Rajarhat, New Town,Action Area, EM Bypass and Mukundapur, were unable to register any price appreciation.


-1.3%3.3%4.7%


0.1%-0.1%12.9%

“Slow sales, increasedoperating costs, andpressure from unsold

inventory causedstagnation in

under-construction(UC) prices”

KolkataApr-Jun 2020

Parameters India Kolkata


"During the quarter,city’s residential

ready-to-move (RM)prices dropped

marginally, though theygrew by 3.3% YoY"



Ambuja Neotia

Eden Group

Emami Realty

Ideal Real Estate

Merlin Group

PS Group

Siddha Group

Sureka Merlin & JB Group

Unitech Group

Urbana Group

Urbana E M Bypass

Eden City Maheshtala

Hiland Greens Maheshtala

Larica Township Barasat

Moonbeam Housing Action Area 2

Shapoorji Complex Action Area 3

South City Prince Anwar Shah Rd

SP Shukhobristhi Action Area 3

Utalika Mukundapur


Market Dynamics



- Launching e-registration of propertydocuments, reopening propertyregistrar offices and extendingproperty tax payment date, would bringimmediate relief to property owners.

- Resumed construction of MajerhatBridge and metro lines of NewGaria-Airport and Noapara-Airport,would benefit city's housing demand.

- World Bank funded logisticsinfrastructure development in areaslike Dankuni, Malda, and Siliguri tokickstart development of peripheralareas of the city.

“Properties saw a minordip of ~2% across

various price brackets,however, prices for UC

properties in thepremium segment grewnearly by 3% owing to

rising input costs”


2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000



-0.8%-1.2%

0.8%

-0.6%-0.1%

-1.8%

2.8%

0.3%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











1 BHK13%

2 BHK47%

3 BHK34%

Above 3 BHK6%

DEMAND

Demand Supply Analysis Kolkata | Apr-Jun 2020

Affordability clearly driving demand in Kolkata even as supply catches up

With limited budget, buyers shifting to 1 and 2 BHK configurationsMost of the consumer searches tookplace in the affordable segment

COVID-19 outbreak had a major impact on thealready subdued Kolkata residential market.While the market largely remained sluggish, thesituation is expected to gradually improve oncethings normalize in the upcoming quarters.

“Mid-segment configurations (2and 3 BHKs) continued to drive

most traction, and accounted formore than 80% of demand and

supply in Kolkata.”

- 3 BHK properties, comprised 45% of Kolkata’slistings, and received only 34% of the consumersearches, indicating preference for smaller sizedapartments.

- Lowest price bracket of ‘less than INR 4,000 persqft’ registered around 60% of the total propertysearches, during the COVID-19 impacted quarter.

- ‘Less than INR 4,000 per sqft’ price bracketwitnessed a demand-supply mismatch as 57% ofthe searches corresponded to only 41% ofKolkata’s total listings.

- Kolkata market continued to be driven by theservice class buyers and affordability, asNewtown-Rajarhat and North Kolkata remainedthe top two micro-markets in the city.



1 BHK5%

2 BHK42%

3 BHK45%

Above 3 BHK8%

SUPPLY

6,000-8,00013%

4,000-6,00036%

> 8,00010%

< 4,00041%



> 8,0006%6,000-8,000

8%

4,000-6,00028%

< 4,00057%












Salt Lake City Sector 3

Madhyam Gram

Action Area 3

Barrackpore

Santragachi

Maheshtala

Haridevpur

Hindmotor

Srirampur

Agarpara

Nayabad

Barasat

Howrah

Shibpur


Demand/SupplyDemand

Newtown-Rajarhat 2500 - 5950North Kolkata 2100 - 8250Central Kolkata 3200 - 16400South-West Kolkata 2400 - 5550South East Kolkata 2750 - 9150South Extension 2750 - 5850Howrah 1900 - 4600

11224354357667

Newtown-Rajarhat 2500 - 5950

Central Kolkata 3200 - 16400

North Kolkata 2100 - 8250

South East Kolkata 2750 - 9150

South-West Kolkata 2400 - 5550

South Extension 2750 - 5850

E M Bypass 2100 - 9750

11

22

43

34

55

66

77





LocalityAvg.

PricePrice

Change

BarasatKonnagarBaruipurHindmotorDum Dum Canton..SodepurKhardahBarrackporeSonarpurMadhyam GramThakur PukurRajpurAirport AreaBiratiUttarpara 4.4%

-2.6%-2.6%6.4%

-0.2%-1.3%-4.7%2.0%

-7.5%-7.5%-7.5%0.0%1.0%0.0%

-1.8%

3,1733,1733,1553,1393,0763,0743,0172,8942,8162,7822,7552,6842,5732,5312,467


Price Analysis Kolkata | Apr-Jun 2020

- Following the pandemic, even the most preferred localities observed price stagnation or a modest dip of 2-5%. These include Rajarhat, New Town, Action Area1 & 2, Howrah, EM Bypass and Mukundapur.- Salt Lake City, Kasba, Picnic Garden, Keshtopur, Lake Town and Bangur Avenue showed price appreciation of up to 5%, due to their accessibility to keycommercial hubs of BBD Bagh, Park Street and Salt Lake Sector V.


LocalityAvg.

PricePrice

Change

Haltu

Salt Lake City

Lake Gardens

New Alipore

Hiland Park

E M Bypass

Salt Lake City Sector 5

Kankurgachi

Park Circus

EM Bypass South East

Jodhpur Park

Topsia

EM Bypass Extension -6.1%

7.5%

-1.2%

-7.5%

-1.0%

-4.9%

1.2%

-4.9%

-3.1%

-3.6%

2.2%

1.1%

-3.6%

7,597

7,577

7,244

7,082

7,002

6,727

6,704

6,674

6,671

6,429

6,384

6,348

6,216


Change

Kalighat

Ballygunge

Gariahat

SouthernAvenue

Keyatala Road

Bhawanipur

Prince AnwarShah Road

Alipore -0.9%

3.6%

7.5%

-3.7%

-5.2%

-5.4%

-0.7%

7.4%

13,002

10,419

10,343

10,332

10,240

10,091

9,509

9,479


Disclaimer: The data represented above is compiled by Magicbricks from multiple sources. Magicbricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.


LocalityAvg.

PricePrice

Change

Picnic GardenGariaChinar ParkDum Dum MetroSantoshpurRajarhat Main RoadMahamaya TalaBeliaghataPurbalokHussainpurMadurdahaNaktalaVIP RoadDhakuriaRajarhat -0.1%

-7.5%-7.5%1.0%2.1%2.3%0.1%

-7.5%7.5%

-2.6%-7.5%7.5%

-0.8%0.9%4.6%

4,6404,6304,6234,4754,4724,4644,4424,3204,3134,3114,2614,2074,1944,0944,064

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant Manager [email protected] [email protected] [email protected] [email protected]



Madhyam Gram-1.3%

Gopalpur Gram0.5%

Salt Lake City1.1%

Action Area 10.0%

Action Area 31.9%

Maheshtala3.6%

Hindmotor0.0%

Uttarpara4.4%

Paikpara0.0%

Nayabad1.6%

Sodepur-7.5%

Howrah-2.2%

Shibpur-0.6%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsNoida market mostly unscathed post lockdown and , holding price levels despite demand remainedmuted

The COVID-19 lockdown has led to demand and supply of residential properties plummeting in Noida and GreaterNoida region. While both the demand and supply in the residential market fell in the quarter, prices remainedsteady as owners resisted anymore downward revision in an already weak market.

Even as the crisis highlighted the importance of owning a house to even many smaller-pocket-sized buyers, propertysearches moved from Central Noida to peripheral areas, including Greater Noida West. The price decline was morepronounced in the under-construction segment, as the COVID crisis led to further delays in project construction.

City5 Year

Change YoY QoQ

Noida

G.Noida 0.0%0.3%-3.7%

-0.4%2.3%-6.6%

City5 Year

Change YoY QoQ

Noida

G.Noida -1.9%-3.1%0.0%

-1.4%-0.5%-0.6%

"COVID-19 crisis andresultant construction

delays led to visibleprice decline of 1-2%

QoQ, for UC segment inboth Greater Noida and

Noida markets."

Noida, Gr. NoidaApr-Jun 2020

Parameters India Noida-Gr. Noida


"Focus on readyproperties in affordablesegment visible as RM

prices did not witness afall even during the

crisis."



ATS Infrastructure

Gaurs Group

Supertech

Jaypee Greens

Mahagun Group

Gulshan Homz

ACE Group

Purvanchal Projects

Nirala India

Logix Group

Gaur City 2 Noida Extension

Supertech Capetown Sector 74

Cleo County Sector 121

Paras Tierea Sector 137

Cherry County Noida Extension

Gaur Atulyam Omicron 1

Mahagun Moderne Sector 78

Gaur City Noida Extension

Gaur Saundaryam Noida Extension

JM Florence Noida Extension


Market Dynamics



- NBCC has acquired Jaypee Infratechvia insolvency, and also began theprocess of completing nine stalledprojects (40,000 housing units) ofAmrapali Group in Noida and GreaterNoida as per Supreme Court guidelines.

- The state government notifiedreduced stamp duty from 2% to 1% foraffordable housing projects.

- UP-RERA has extended theregistration and completion date for allthe registered projects in the state.

"Prices witnessed astagnation or a minor

dip across mostready-to-move andunder-construction

categories."


2014

2015

2016

2017

2018

2019

2020

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2014

2015

2016

2017

2018

2019

2020

1,000

2,000

3,000

4,000

5,000

6,000



-1.7%

-0.9%-1.1%

-0.4% -0.4%

0.6%

-2.0%

0.1%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











Noida

Gr. Noida

Noida

Gr. Noida

1 BHK10%

2 BHK36%

3 BHK44%

Above 3 BHK10%

DEMAND

Demand Supply Analysis Noida, Gr. Noida | Apr-Jun 2020

Lowest price bucket (less than INR 4000 per sqft) facing higher demand than supply

3 BHK highest in demand followed by 2 BHK configurationsHigh demand in lower price bucketsdue to decreased budget during crisis

While buyers are looking for properties which arein lower price buckets, traction for 2 BHKs and 3BHKs was high, making up 80% of the propertysearches in Noida and Greater Noida. With 84%supply concentrated in smaller configuration, theNOIDA market is serving well to the demand.

- We witnessed a surge in searches for 1 BHKconfiguration for which the market seemed to beunder supplied as 1 BHK constitute for only 5% ofthe total supply.

"Buyers are preferring 2 BHKs inbelow INR 4,000 per sqft in

pursuit to reduce the overallinvestment ticket size "

- About 50% of the total search volume waslooking for below INR 4000 per sq ft apartments.

- More than 72% of the searches were for housespriced less than INR 5,000 per sqft, majority ofwhich are available in suburbs such as GreaterNoida West and Sector 137 (near NoidaExpressway), which are localities with highdemand and supply.

-Noida 7X (Near FNG), Noida Expressway andVikas Marg micro-markets witnessed highconsumer activity, with high demand as well assupply in the area.



1 BHK5%

2 BHK35%

3 BHK49%

Above 3 BHK11%

SUPPLY

5,000-6,00018%

4,000-5,00023%

> 6,00014%

< 4,00045%



5,000-6,00016%

4,000-5,00022%

> 6,00013%

< 4,00050%












Pari Chowk

Sector 93A

Sector 16B

Sector 134

Sector 151

Sector 168

Omicron 1

Sector 21

Sector 1

Sector 2

Sector 4

Zeta 1

Chi 4© OpenStreetMap contributors

Demand/SupplyDemand

Noida 7X 3650 - 6650Noida Expressway (N) 2200 - 13300Noida Expressway (S) 2550 - 6000Vikas Marg 2300 - 8350Omega-Chi-Phi 3400 - 5450Jaypee Wish Town 3350 - 7550Central Noida 4900 - 8100

11223344556677

Noida Expressway (S) 2550 - 6000

Noida 7X 3650 - 6650

Noida Expressway (N) 2200 - 13300

Vikas Marg 2300 - 8350

Jaypee Wish Town 3350 - 7550

Dadri Main Road 2900 - 8550

Greater Noida West 3100 - 4150

21

12

33

44

55

76

87





LocalityAvg.

PricePrice

Change

Sector 73

Sector 68

Sadarpur

Chhalera

Sector 151

PI 1 & 2

Surajpur

Omicron 3

Sector 49

Sector 1

Sector 134

Sector MU 2 -0.4%

-1.8%

-4.1%

0.0%

2.8%

0.3%

-4.9%

-6.8%

0.0%

-1.8%

0.0%

-5.2%

3,797

3,741

3,587

3,397

3,317

3,173

2,998

2,984

2,956

2,865

2,833

2,796


Price Analysis Noida, Gr. Noida | Apr-Jun 2020

- Price growth was mostly concentrated in localities with ready to move supply including Sectors 75, 76, 77, and 79.

- Most localities on the Noida Expressway, including Sectos 137, 143 and 168, have seen decline in price in the range of 1 to 2% QoQ. Source: Magicbricks Research

LocalityAvg.

PricePrice

Change

Sector 82

Sector 62

Sector 93A

Sector 76

Sector 128

Sector 75

Sector 77

Sector 100

Sector 78

Sector 100 Block A

Sector 79

Sector 93

Sector 150

Sector 41 0.0%

1.6%

-2.2%

3.3%

0.0%

-0.7%

-2.1%

0.1%

1.6%

7.5%

0.1%

-7.5%

0.2%

-1.3%

5,889

5,735

5,664

5,588

5,486

5,457

5,359

5,339

5,317

5,271

5,218

5,211

5,147

5,044

LocalityAvg.

PricePrice

Change

Sector 61

Sector 108

Sector 93B

Sector 50

Sector 45

Sector 37

Sector 121

Sector 107

Sector 44

Dadri Road

Sector 104

Sector 94 1.7%

-0.8%

7.5%

0.0%

4.3%

-1.6%

-0.3%

-0.1%

-3.7%

-7.2%

-0.8%

-2.3%

11,354

8,560

7,149

6,881

6,864

6,803

6,650

6,620

6,440

6,391

6,368

6,125




LocalityAvg.

PricePrice

Change

Sector 117Sector 129Pari Chowk

Sector 118Sector 168Sector 70Sector 152Sector 119

Sector 143Sector 143 BSector 137Sector 74Sector 120

Sector 144Sector 106 0.0%

-1.1%-1.9%

-1.4%0.0%4.5%

-4.5%-1.7%

-2.7%-0.1%-1.4%1.2%1.2%

0.0%-5.2%

4,9694,9594,952

4,9314,8934,8704,8204,757

4,7544,5784,5614,5134,378

4,3654,035

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Suneet Saxena | Assistant [email protected] [email protected] [email protected] [email protected]



Pari Chowk1.2%

Sector 1287.5%

Sector 134-1.8% Sector 144

-1.1%

Sector 1501.6%

Sector 620.2%

Sector 941.7%

Surajpur0.3%

Sector 1-4.1%

PI 1 & 2-4.9%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%



Residential Market InsightsAffordability and NRI investments to steer housing sales amid COVID induced slowdown

Over the past few years, Ahmedabad gained better traction in affordable and mid-segment housing driven by itsstrong commercial market but took a hit at the backdrop of COVID-19. As a result, the city saw a slump in sales aswell as halt in new launches. Due to labor shortage, developers found it difficult to resume construction and theGujarat RERA exended project completion timelines by six months to support developers.

Although Ahmedabad observed a steady price rise over the past 2-3 years, Q2 2020 saw noticeable price declineacross most of the localities. Halt in sales activity led to the favoured localities of South Bopal, Prahlad Nagar,Satellite, Naranpura and Ghatlodiya, witnessing a price dip of 4 to 7.5%.


-3.5%0.4%13.0%


-0.6%3.9%14.4%

“Under-construction(UC) prices stood

stable, as developershad little scope to cut

prices amidst risinginput costs and meek

sentiments"

AhmedabadApr-Jun 2020

Parameters India Ahmedabad


“Ready-to-move-in(RM) properties

registered a price fall of3.5%, eroding YoY price

gains”



Godrej Properties

Adani Realty

Gala Group

Goyal & Co.

JP Iscon Group

Kavisha Corporation

Shaligram Buildcon

Shivalik Group

Sun Builders

Swati Procon

Godrej Garden City SG Highway

Adani Shantigram SG Highway

Swaminarayan Park Naroda

Casa Vyoma Vastrapur

Bakeri City Vejalpur

Satyesh Residency Bopal

Shree Balaji Wind Park Vaishno Devi

Goyal Intercity Memnagar

Umang Narol Narolgam

Shree Narayan lotus Chandkheda


Market Dynamics



- Upcoming projects, such as Metro Rail,Mumbai-Ahmedabad Bullet Train, andAhmedabad-Dholera Highway to boostoverall connectivity and spurresidential growth across Vastral,Thaltej, Chandkheda, Paldi and Vasnaareas.

- Recently approved new Town Planningschemes to drive urban infrastructuredevelopment in outskirts, includingKalana, Sanathal and Chharodi.

- State government considering a 1-3%cut in stamp duty and registration feesto encourage housing demand.

“All Ready-to-moveprice brackets had pricedecline of 2-4%, thoughaffordable segment was

harder hit”


2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000



-0.3%

-4.0%

-0.4%

-4.1%

-1.6%

-3.4%

-2.2%-1.9%

Key Projects



Aver

age

Pric

e IN

R pe

r sqf

tAv

erag

e Pr

ice

INR

per s

qft











Above 3 BHK9%

3 BHK31%

2 BHK47%

1 BHK14%

DEMAND

Demand Supply Analysis Ahmedabad | Apr-Jun 2020

Demand-supply mostly matching except in the lowest price bracket

2 BHKs highest in demand while 3 BHKs top the supplyDemand moving to smaller apartmentconfigurations

As the pandemic reaffirmed the importance ofhome ownership, the city witnessed higherconcentration of residential demand within theaffordable segment.

“2 and 3 BHK configurationscontinue to dominate consumersearches, accounting for almost

50% and 30%, respectively.”

- 2 BHK properties faced a clear demand-supplymismatch, as against 47% searches, the availablelistings were only 32%.

- About 60% of the demand and 50% of the supplyattributed to ‘less than INR 4,000 per sqft’ pricebracket, which formed a major chunk ofAhmedabad’s residential landscape for thequarter

- SG Highway, Bopal and Satellite remained thetop three micro-markets for two consecutivequarters, on the back of excellent connectivity,proximity to work places and presence ofdeveloped amenities, in addition to affordablepricing.

- Ahmedabad’s expansion to peripheral suburbs,such as South Bopal, Gota, Vaishno Devi, Ranip,Naroda, Nikol, Vastral and Maninagar garneredsubstantial interest from buyers as well asdevelopers who look for affordability andcheaper land parcels.



Above 3 BHK18%

3 BHK44%

2 BHK32%

1 BHK7%

SUPPLY

5,000-6,00014%

4,000-5,00021%

> 6,00017%

< 4,00048%



5,000-6,00012%

4,000-5,00019%

> 6,00010%

< 4,00059%




Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by price buckets








Navrangpura

Science City

Maninagar

Memnagar

New Ranip

Narolgam

Vejalpur

Motera

Naroda

Tragad

Thaltej

Vasna

Ranip

Shilaj

Shela

Gota


Demand/SupplyDemand

SG Highway 2650 - 8150Bopal 2850 - 9100Satellite 4700 - 7500Narol Naroda Road 1700 - 5700Prahlad Nagar 3200 - 6750Chandkheda 2850 - 4000Chandkheda-Motera 2650 - 4200

11223344556687

SG Highway 2650 - 8150

Bopal 2850 - 9100

Satellite 4700 - 7500

Prahlad Nagar 3200 - 6750

Narol Naroda Road 1700 - 5700

Paldi-Ambadi 3500 - 7450

C G Road 4350 - 7450

11

22

33

44

65

56

87





LocalityAvg.

PricePrice

Change

Vatva

Narolgam

Nava Naroda

Naroda

Vastral

New Maninagar

Nikol

Ranip

RTO Circle

Tapovan Circle

Tragad

New Ranip

ChandkhedaN C G R d

-1.1%

-5.1%

0.0%

-4.1%

-5.4%

-7.5%

-0.3%

-5.8%

-1.0%

3.2%

-5.9%

-4.5%

-7.5%

3,331

3,307

3,270

3,228

3,157

3,033

2,820

2,720

2,524

2,408

2,331

2,046

1,914


Price Analysis Ahmedabad | Apr-Jun 2020

- COVID-19 had a major impact on property prices in Ahmedabad, and most localities across all price brackets experienced a plunge in capital values.

- However, the fall was negligible across the developing fringes of Gota, Tragad, Nikol and Vastral, as they continued to attract buyer interest due toaffordability.


LocalityAvg.

PricePrice

Change

Naranpura

Memnagar

Sola

Prahlad Nagar

Paldi

Science City Road

Science City

Vastrapur

Jodhpur

Thaltej

Satellite

Nehru Nagar -3.3%

-3.6%

-4.9%

-6.0%

-2.3%

-0.4%

-3.9%

2.5%

-6.1%

0.0%

-5.9%

-6.4%

5,993

5,922

5,884

5,846

5,679

5,593

5,413

5,373

5,366

5,263

5,259

5,216


ChangeAmbli - BopalRoad

Ambli

Ambawadi

Iskon AmbliRoad

Bodakdev

Navrangpura

Shahibuag

Thaltej-ShilajRoad

C G Road 1.5%

0.0%

0.0%

-0.2%

-0.3%

-2.5%

-3.2%

-5.5%

-6.8%

6,060

6,125

7,193

6,070

6,427

6,871

6,088

7,189

6,807




LocalityAvg.

PricePrice

Change

Vasna

Ghatlodiya

Gurukul

Maninagar

SG Highway 0.0%

-3.7%

-4.1%

-5.1%

-7.5%

4,026

4,329

4,813

4,102

4,102

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant [email protected] [email protected] [email protected] [email protected]



Sanand - Sarkhej Rd-3.5%

Thaltej-Shilaj Road0.0%

New Maninagar-5.8%

Tapovan Circle-4.1%

Chandkheda-1.1%

Maninagar-3.7%

Shahibuag0.0%

Jivraj Park-7.0%

Narolgam-4.5%

Vasna-7.5%

Vatva-7.5%

Ambli-5.5%

Nikol-0.3%

Shela-4.1%

Gota0.0%


-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%


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