PropIndex | Magicbricks

Residential Market Insights

Peripheral 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.

5 YearChange YoY QoQ

-0.8%-2.2%-4.1%

5 YearChange YoY QoQ

-1.4%-2.2%5.1%

"Prices ofunder-constructionsegment fell 1.4% thisquarter, while growingmarginally by 5% in thelast five years"

MumbaiApr-Jun 2020

Parameters India Mumbai

Demand+ -27% -37%Supply++ -43% -53%Price Index+++ -1.5% -0.8%

"Mumbai'sready-to-move markethas posted negativereturns in the last 5

years"

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

Source: Magicbricks Research

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

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- 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"

Key Trends to Watch Out

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

Price Bracket (INR per sqft)

< 10,000 10,000-15,000 15,000-20,000 > 20,000

RM UC RM UC RM UC RM UC

-0.4%-0.7%

-3.0%

0.4%

-1.3%-1.0%

-0.3%

-0.7%

Key Projects

Key Developers based on activelistings

Project Name Locality

Average Price INR per sqft

Average Price INR per sqft

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

Source: Magicbricks Research

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

Source: Magicbricks Research

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.

Source: Magicbricks Research

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

Source: Magicbricks Research

Page 1© magicbricks.com

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 themajor 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.

Top Micromarkets by consumersearches

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

1 BHK30%

2 BHK41%

3 BHK23%

Above 3 BHK6%

SUPPLY

15,000-20,00024%

10,000-15,00017%

> 20,00028%

< 10,00031%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

15,000-20,00017%

10,000-15,00014%

> 20,00026%

< 10,00043%

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

Source: Magicbricks Research

.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

Source: Magicbricks Research

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.

Source: Magicbricks Research

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.

Source: Magicbricks Research

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.

Source: Magicbricks Research

Vasai West

Colaba© OpenStreetMap contributors

Demand/SupplyDemand

Beyond Mira Road 3350 - 7350

Mira-Bhayandar 6150 - 10550

Malad-Kandivali 10200 - 23150

Andheri West 9150 - 31050

Worli-Lower Parel 24700 - 51450

Borivali-Dahisar 9150 - 23450

Goregaon 7200 - 27050

11

32

23

44

55

66

77

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

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

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

Page 2© magicbricks.com

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.Price

PriceChange

Virar East

Nalasopara West

Nalasopara

Virar

Nai Gaon

Naigaon East

Virar West

Vasai East

Nalasopara East

Vasai

Kalyan

Vasai West

Panvel

Dombivli West

Hatkesh Udyog

Kamothe

2.2%

-3.0%

-0.8%

2.9%

0.7%

-5.8%

0.3%

-1.7%

-1.4%

0.9%

-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%

8,538

8,456

8,325

8,300

8,281

8,269

8,177

8,030

7,915

7,676

7,534

6,811

6,725

6,174

6,017

5,402

5,058

5,040

4,960

4,875

4,864

4,851

4,777

4,612

4,469

< INR 10,000 psf INR 10,000-15,000 psf INR 15,000-20,000 psf > INR 20,000 psf

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.Price

PriceChange

Malad East

Kurla West

Devi Pada

Film City Road

Thakur Complex

Vikhroli West

Kandivali West

Malad

Dahisar West

Akurli Nagar

Link Road

Kandivali

Asha Nagar

Dhanukar Wadi

Malad West

Kanjurmarg East -2.3%

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%

15,779

15,774

15,749

15,715

15,692

15,676

15,645

15,562

15,432

15,396

15,378

15,376

15,363

15,208

15,070

15,049

Locality Avg. PricePrice

Change

Veera Desai Road

Bhakti Park

Ghatkopar East

Shastri Nagar

Wadala

Wadala East

Vakola

Vikhroli East

Andheri

Santacruz East

Kalina

Central Area

Sion

Yeshodham

Andheri Link Road

Andheri West

7.0%

7.5%

-2.7%

-1.3%

4.1%

0.1%

-0.9%

-3.2%

7.5%

-6.4%

-4.5%

-1.2%

-2.7%

0.9%

-3.6%

-4.1%

4.0%

-7.5%

2.3%

-7.2%

-1.5%

-0.8%

-7.5%

-3.8%

1.1%

-3.9%

-1.7%

-1.9%

1.9%

6.6%

7.5%

-5.3%

-2.3%

-1.2%

3.7%

-1.7%

0.0%

-7.5%

1.7%

3.4%

6.9%

4.4%

-2.2%

3.6%

-0.3%

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%

62,004

60,737

51,913

47,119

40,818

37,823

37,561

37,493

36,296

36,197

34,885

34,842

34,431

33,455

33,420

33,213

33,205

32,822

31,055

30,992

30,961

30,637

30,304

30,214

30,134

30,080

29,742

29,549

29,306

29,180

29,084

28,582

27,681

27,001

26,680

26,640

25,947

25,488

25,345

25,340

23,659

23,376

23,057

23,047

22,838

22,774

22,382

22,370

22,133

22,012

21,756

21,063

20,861

20,791

20,723

20,689

20,481

20,345

20,266

20,132

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.Price

PriceChange

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 Analystsurabhi.arora@magicbricks.com devendra.lohmor@magicbricks.com ankur.upadhyay@magicbricks.com deepak.rajput@magicbricks.com

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

For more information and research related queries, please contact:

Dombivli West-2.2%

Cuffe Parade-2.7%

Panvel-1.7%

© OpenStreetMap contributors

-7.5% 7.5%

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

Page 3© magicbricks.com