PropIndex | Magicbricks€¦ · Residential Market Insights ... abutting NOIDA such as Indraprastha...
Transcript of PropIndex | Magicbricks€¦ · Residential Market Insights ... abutting NOIDA such as Indraprastha...
PropIndex | Magicbricks
Residential Market Insights
COVID-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.
5 YearChange YoY QoQ
-2.3%-2.7%-4.2%
5 YearChange YoY QoQ
-1.6%-3.3%-6.9%
"Under-constructionsegment continued itsdownward price
trajectory, falling 1.6%QoQ, as the COVIDcrisis and unsoldinventory addedpressure."
DelhiApr-Jun 2020
Parameters India Delhi
Demand+ -27% -11%Supply++ -43% -38%Price Index+++ -1.5% -2.3%
"Ready-to-moveproperty prices fell by2.3% QoQ, washingaway the gains madeduring 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
Source: Magicbricks Research
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
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- 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 declinewitnessed in thepremium propertiescosting more than INR15,000 per sqft."
Key Trends to Watch Out
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
Price Bracket (INR per sqft)
< 5,000 5,000-10,000 10,000-15,000 > 15,000
RM UC RM UC RM UC RM UC
-1.6%
1.1%
-0.9%
-0.5%-0.1%
-2.1%
-2.7%-3.0%
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
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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.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searches andlistings by localities
Above 3 BHK22%
3 BHK44%
2 BHK27%
1 BHK8%
SUPPLY
10,000-15,00017%
5,000-10,00032%
> 15,00019% < 5,000
31%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by active listings
10,000-15,00016%
5,000-10,00030%
> 15,00012%
< 5,00042%
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
Vasundhara Enclave
Dwarka Sector 21
Paschim Vihar
Vasant Vihar
Narain Vihar
Chhattarpur
Sarita Vihar
Shahdara
© OpenStreetMap contributors
Demand/SupplyDemand
Dwarka 3550 - 10750
M G Road 3300 - 5650
Vasant Kunj 10500 - 19300
Saket 4300 - 8700
Janakpuri 7050 - 12550
Mayur Vihar 7050 - 13950
Uttam Nagar 3350 - 5300
11
72
53
24
45
36
97
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
Micro-Market Price Range Rank Rank Q2-20 Q1-20
Micro-Market Price Range Rank Rank Q2-20 Q1-20
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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
Khanpur
Govindpuri Main
Chhattarpur
Om Vihar
Sainik Farm
Burari
Mehrauli
Mohan Garden
Matiala
Dwarka Mor
Nawada
Uttam Nagar
Jamia Nagar
Uttam Nagar West
Uttam Nagar East
Okhla
-2.6%
3.6%
-2.4%
-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%
4,954
4,628
4,622
4,595
4,569
4,528
4,483
4,478
4,452
4,364
4,318
4,214
4,199
4,194
4,193
4,155
3,857
3,778
< INR 5,000 psf INR 5,000-10,000 psf INR 10,000-15,000 psf > INR 15,000 psf
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.Price
PriceChange
Mayur Vihar
Patparganj
Janakpuri
Pitampura
Indraprastha Extn.
Rajouri Garden
Rohini
Mayur Vihar 1
Kalkaji
Vivek Vihar
Moti Nagar
Kirti Nagar
Model Town
Alaknanda
Rohini Sector 14
Vasant Kunj Sector D
2.6%
1.0%
-2.0%
5.3%
-6.2%
-4.3%
-2.7%
2.3%
-1.9%
-7.5%
2.5%
0.6%
2.9%
1.5%
-2.4%
-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%
14,929
14,787
14,692
14,587
14,565
14,478
14,443
14,394
14,184
13,982
13,776
13,680
13,426
13,404
13,386
13,370
12,970
12,584
11,985
11,640
11,591
11,501
10,987
10,854
10,735
10,478
10,363
10,316
10,308
10,154
Locality Avg. PricePrice
Change
Surajmal Vihar
Punjabi Bagh (W)
Saket
Kailash Colony
East Of Kailash
Green Park Extn
Jangpura
Greater Kailash 1
Geetanjali Encl.
Greater Kailash
Green Park
Greater Kailash 2
GK Enclave 2
Greater Kailash 3
Lajpat Nagar 3
Greater Kailash ..
-7.5%
1.0%
-4.2%
2.5%
-1.7%
-5.0%
-2.9%
7.5%
-3.9%
2.1%
-4.0%
-3.5%
2.9%
-3.9%
-7.5%
2.2%
-6.9%
-2.8%
1.4%
-6.0%
-1.3%
-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%
45,423
38,055
29,423
28,319
27,176
26,296
24,738
23,843
21,952
21,513
20,947
20,586
20,492
20,379
20,316
20,270
20,225
20,209
20,152
19,657
19,217
19,202
19,035
19,002
18,684
18,352
18,056
18,032
17,991
17,921
17,472
16,179
16,000
15,850
15,568
15,191
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
Price Change
Mahavir Enclave
Shahdara
Krishna Nagar
Laxmi Nagar
Tilak Nagar
Virender Nagar
Rohini Sector 22
Rohini Sector 25
Dwarka Sector 8
Rohini Sector 23
Dilshad Garden
Hari Nagar
Rohini Sector 24
Dwarka Sector 3
Dwarka Sector 13
Dwarka Sector 7
-2.1%
3.5%
-0.8%
-7.5%
-7.5%
0.7%
-0.8%
-0.9%
0.3%
-2.6%
2.6%
0.3%
0.6%
0.5%
-3.5%
2.4%
-1.3%
4.0%
3.7%
0.9%
-1.2%
3.2%
-2.3%
0.8%
6.0%
0.2%
-3.0%
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%
9,705
9,703
9,605
9,405
9,253
9,170
9,129
9,127
9,114
9,114
9,082
9,075
9,045
9,031
9,027
9,022
9,022
9,019
9,003
8,928
8,871
8,740
8,728
8,643
8,636
8,531
8,505
8,298
8,285
8,242
8,050
7,791
7,701
7,422
7,402
7,236
7,052
6,826
5,912
5,764
5,453
5,420
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]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
For more information and research related queries, please contact:
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%
© OpenStreetMap contributors
-7.5% 7.5%
-5% -2.5% 0% 2.5% 5%
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