PropIndex | Magicbricks · the future prospects of these locations Rank of 90 .. 1 to 7 Top...

PropIndex | Magicbricks

Residential Market Insights

Metro connectivity driving residential demand in select areas

Chennai residential market has seen a steady rise in prices over the last four years. Improving connectivity viaChennai Metro, Chennai-Bengaluru infrastructure corridor, and peripheral road are particularly driving theresidential market in peripheral regions. The limited number of new launches by the developers has helped the sectorto maintain the supply-demand balance while cushioning price levels.

Property prices for both the Under-Construction (UC) and Ready-to-Move (RM) segments, witnessed visible priceincrements in almost all price brackets in Q1 2020, defying fears of a systematic slowdown in the larger Indianeconomy. We expect the localities with upcoming metro connectivity to gain traction in the near term.

5 YearChange YoY QoQ

1.0%6.7%18.7%

5 YearChange YoY QoQ

0.3%1.9%3.2%

"Under constructionsegment prices alsoimproved, albeit

marginally, with almost2% price growth YoY"

ChennaiJan-Mar 2020

Parameters India Chennai

Demand+ +5.3% +6.4%Supply++ -0.8% +1.9% Price Index+++ +0.1% +1.0%

"Chennai residentialprices witnessed adecent 6.7% YoY priceincrease, indicative ofpositive sentiments"

Notes:Above parameters represent QoQ change in Q1 2020 atIndia and city level + volume of property searches ++ volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Casagrand Builders

Radiance Realty

Alliance Group

Puravankara

Mahindra Lifespace

KG Developers & Promoters

TVS Emerald

Shriram Properties

Doshi Housing

Appaswamy Real Estates

The Metrozone Anna Nagar

Provident Cosmo City SIPCOT

SKC Homes Guduvancheri

Alliance Orchid Springs Korattur

Shri Sai Apartment T Nagar

Akshaya Today Kelambakkam

Harini apartment Thiruvanmiyur

Embassy Residency Sholinganallur

Prestige Bella Vista Iyyappanthangal

Happinest Avadi

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Good metro connectivity is turningMount Poonamallee road into OMR 2.0for IT firms, driving demand forresidential space

- Metro phase 2 project comprising ofcorridor 3 (Madhavaram to SIPCOT);corridor 4 (Lighthouse to Poonamallee);and corridor 5 (Madhavaram toSholinganallur), to begin operations in2020

- Outer ring road's Nemilichery toMinjur stretch, and peripheral ring roadconnecting Poonjeri Junction to EnnorePort, may also get completed in 2020

"Properties costingmore than INR 7,000per sqft witnessed priceincrements for bothcomplete and underconstruction units"

Key Trends to Watch Out

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/sqft)

< 5,000 5,000-7,000 7,000-9,000 > 9,000

RM UC RM UC RM UC RM UC

0.2%

0.5%

0.2%

-0.4%

0.7%

0.9%

1.8%

0.7%

Key Projects based on consumersearches

Key Developers based on activelistings

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 Q1 2020


Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q1 2020


Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on March 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 March 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 on Magicbricks website in Q1 2020 for various price buckets


Page 1© magicbricks.com

1 BHK11%

3 BHK30%

Above 3 BHK3%

2 BHK56%

DEMAND

Demand Supply Analysis Chennai | Jan-Mar 2020

Healthy demand-supply equation in all price brackets

2 and 3 BHKs most preferred typesIT/ITeS and infrastructuregrowth keep the residentialsegment on track

Robust connectivity and growth in IT/ITeS andindustrial segments in the city have led toconsumer demand matching supply in mostareas of the city

"2 BHK configuration received themost traction in Q1 2020 with 56%of the city's searches falling in this

segment"

- Alternate Investment Fund (AIF) and creditguarantee schemes for Non- Banking FinancialCompanies (NBFCs) have eased the liquiditysituation for developers, while sustainingbuyer's trust in developers to complete theirprojects on time, and enhancing the residentialdevelopment in the city

- Chennai is one among the few markets in thecountry where the premium segment continuesto do well and the city witnessed 20% of itsconsumer searches for properties costing morethan INR 9,000 per sqft

- OMR micromarket continues to do well, whilebeing most favored by buyers, as major ITdevelopments and various industries are locatedwithin this region

- Anna Nagar and Ambattur micro-markets havewitnessed a significant surge in demand inQ1 2020, as buyers anticipated the current andupcoming metro lines to significantly enhancethe future prospects of these locations

Rank of 90 ..1 to 7

Top Micromarkets by consumersearches

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

1 BHK8%

2 BHK51%

3 BHK37%

Above 3 BHK4%

SUPPLY

7,000-9,00010%

5,000-7,00034%

> 9,00015%

< 5,00040%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

7,000-9,00012%

5,000-7,00030%

> 9,00020%

< 5,00039%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by BHK configuration


.Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q1 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 Q1 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 Q1 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 Q1 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Mahindra World City

Sholinganallur

Kelambakkam

Guduvancheri

Poonamalle

Thiruporur

Avadi

© OpenStreetMap contributors

Demand/SupplyDemand

OMR 3200 - 8850

Ambattur 3000 - 7700

Porur 3800 - 7250

GST- Perangalthur 3050 - 5200

Medavakkam 3800 - 6100

Central Chennai 6200 - 20700

Velachery 4000 - 9050

11

42

33

24

75

56

67

Micro-Market Price Range Rank Rank Q1-20 Q4-19

OMR 3200 - 8850

Central Chennai 6200 - 20700

Ambattur 3000 - 7700

Anna Nagar 5100 - 14900

Velachery 4000 - 9050

Arcot Road 4900 - 11850

GST- Perangalthur 3050 - 5200

11

22

83

104

45

56

37

(Price in INR per Sqft)

Micro-Market Price Range Rank Rank Q1-20 Q4-19


Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q1 20202. Color of the bubble represents price change in Q1 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

Veppampattu

Oragadam

Thalambur

Avadi

Kelambakkam

Poonamalle

Urapakkam

Mahindra City

Perumbakkam

Siruseri

G S T Road

Guduvancheri

Madambakkam

Nanmangalam

Padur

3.8%

4.6%

0.6%

0.0%

2.6%

-2.1%

0.3%

-5.3%

-0.3%

1.4%

-3.8%

3.7%

1.9%

-0.6%

-1.4%

-0.2%

7.5%

-7.5%

0.0%

-0.3%

-0.9%

6.2%

1.2%

4,894

4,844

4,842

4,758

4,701

4,609

4,529

4,450

4,438

4,434

4,423

4,383

4,346

4,342

4,265

4,185

4,185

4,054

4,034

3,998

3,990

3,716

3,160

< INR 5,000 psf INR 5,000-7,000 psf INR 7,000-9,000 psf > INR 9,000 psf

Price Analysis Chennai | Jan-Mar 2020

- Most of the localities with notable price declines were located close to the centre of the city and bound by ORR

- Growing industrial and IT developments along OMR and GST Road were the major drivers behind the price increments in these regions


LocalityAvg.Price

PriceChange

Kolathur

Velachery

Perungudi

East Coast Road

Choolaimedu

Valasaravakkam

Arcot Road

Kodambakkam

Koyambedu

Saligramam 7.5%

-5.3%

3.4%

-4.7%

-3.4%

2.3%

-2.4%

7.5%

-3.1%

7.5%

8,772

8,297

8,009

7,816

7,726

7,712

7,653

7,410

7,372

7,013

LocalityAvg.Price

PriceChange

Vadapalani

Anna Nagar

Thiruvanmiyur

Kilpauk

T Nagar

Mylapore

Adyar

Egmore

Nungambakkam 7.5%

-4.9%

-4.2%

7.5%

-3.5%

3.5%

2.0%

1.0%

-2.5%

16,016

14,668

13,108

13,099

12,930

11,851

10,551

10,363

9,459

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q1 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 Q1 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.

Q1 2020 Price changes for the city's major localities

LocalityAvg.Price

PriceChange

PH Road

Selaiyur

Madhavaram

Vanagaram

Ambattur

Sholinganallur

Nolambur

Madipakkam

Manapakkam

Karapakkam

Pallikaranai

Porur

Kovilambakkam

Iyyappanthangal

Pallavaram

-6.0%

-7.2%

7.5%

2.1%

0.1%

-3.2%

1.4%

-5.0%

-5.7%

-1.2%

7.3%

-1.9%

-1.3%

2.6%

0.3%

0.1%

2.8%

0.8%

1.4%

-0.3%

-2.6%

6,852

6,445

6,444

6,358

6,217

5,997

5,965

5,856

5,855

5,837

5,674

5,653

5,603

5,583

5,535

5,505

5,383

5,262

5,057

5,056

5,012

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Kavya N | Research Analyst [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:

Old Mahabalipuram Road4.6%Mahindra City

-0.2%

Guduvancheri3.7%

Veppampattu1.2%

Mangadu0.3%

Avadi-0.3%

© OpenStreetMap contributors

-7.5% 7.5%

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


PropIndex | Magicbricks · the future prospects of these locations Rank of 90 .. 1 to 7 Top...

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