REALTY SNAPSHOTS MMR RESIDENTIAL: TOP PERFORMING LOCALITIES AND MICRO MARKETS Key InsightsInsights In Mumbai Metropolitan Region (MMR), the micro-markets of Thane, Beyond Thane and Navy Mumbai ruled the roost, accounting for around 52% of the total absorption and 55% of the total supply witnessed in MMR during the 12 months’ period from Jan’16 to Dec’16 Four out of the top 15 localities in MMR belong to the micro-market of Western Suburbs. The development of commercial establishments over the years has increased the popularity of Western Suburbs as a residential area; this micro-market has the majority of the working population of MMR
Self-contained satellite township, Navi Mumbai has emerged as fourth out of the top 9 micro-markets. Excellent social and physical infrastructure have enhanced the attractiveness of this micro-market
Thane West, Chembur, Dombivali, Mira Road East and Powai have emerged as the top performing localities due to high - absorption & launches, moderate inventory overhang, good livability score and presence of well established social and physical infrastructure
Chembur and Powai have emerged as two of the most promising localities in MMR with low inventory overhang levels of 21 months and 24 months respectively. Both Chembur and Powai share good connectivity with the Bandra Kurla Complex (BKC), one of the major commercial centers in Mumbai
The localities of Mira Road East and Vasai are poised for higher growth in short to medium term with relatively low inventory overhang of around 31 months, decent livability score of over 70 and moderate price ranging between Rs. 4,500 - Rs. 7,500 per sq.ft.
Badlapur East and Ambernath East are the preferred choice for the middle income group of home buyers. The availability of large land parcels at relatively cheaper prices have resulted in large scale developments in the vicinity
Several transport infrastructure projects were implemented in Mumbai in the last two years including the SCLR, the Wadala-Chembur Monorail and the Versova-Andheri-Ghatkopar metro corridor. This has led to improved East-West connectivity thereby having a positive impact onthe performance of adjoining residential markets
Page 01 01 REALTYREALTY SNAPSHOTS SNAPSHOTS Mumbai Fact File Big Infra Push KeyPopularly knownInsights as the ‘Financial Mumbai Metro – 172 km long project Mumbai Trans Harbour Link (MTHL) – Capital of India’ due to the concentra- to be implemented in three phases A 22.5-Km-long, 6-lane bridge with an tion of major financial institutions such across 8 lines / corridors estimated cost of the Rs.17,500 crore as Bombay Stock Exchange, Reserve Line 1 of length 11.4 km is already aims to reduce commute time from Bank of India, National Stock operational from Jun’14 Island City to Navi Mumbai by 30 Exchange, SEBI, etc. minutes; Expected completion 2019 Line 2, Line 3 and Line 4 are Mumbai Metropolitan Region is spread expected to be commissioned Coastal Roads – Proposed 8 lane, over an area spanning 4,355 sq.km. between 2017 to 2023 29.2 km long road from Nariman Point in South Mumbai to Kandivali in the with 22 urban local bodies Navi Mumbai Metro – Proposed 5 Western Suburbs; the project is likely lines across three phases; Phase - 1 As per the census of 2011, Mumbai is to be completed in 3 years the most populous city in India (Belapur to Pendhar) is expected to be operational by the end of 2017 Versova–Bandra Sea Link – To be The economy of the region is primarily developed at a cost of Rs.5,975 crore, Mono Rail – The project with a length driven by IT/ITeS, BFSI, Manufacturing, the project is expected to be completed of 20 km is being undertaken at a cost Entertainment & Fashion industries by 2019, to serve as a freeway corridor- of Rs.2,460 crore by MMRDA; Phase - 1 The wealthiest city of India, Mumbai is already operational from Feb’14 recorded a nominal GDP of US$278 while Phase - 2 is likely to be commis- billion in the year 2014 sioned by June 2017 Commercial Overview Navi Mumbai International Airport – Industrial Overview Spread over 2,866 acres, the airport BFSI / IT&ITES would be one of world’s largest The two prominent financial centers in Mumbai accounts for 25% of industrial ‘Greenfield’ international airports and the city are Nariman Point and Bandra output, 70% of maritime trade and will generate 1.42 lakh new jobs directly, Kurla Complex (BKC) housing major 70% of capital transactions to Indian Demographic Indicators along with another 2 lakh indirect jobs; financial institutions such as NSE, economy (Census 2011) The project has been awarded to GVK NABARD, IL&FS, Dena Bank, During 2014-15, total cargo tra c of Group in Feb 2017 and construction is Citigroup, JPMorgan Chase, Bank of Maharashtra handled by Mumbai Port Population (million) 18.4 expected to commence soon India, Canara Bank, Standard Trust and Jawaharlal Nehru Port Trust Chartered Bank, State Bank of India Multimodal Corridor Virar-Alibaug – was 40.3% and 41.7% respectively Male (million) 9.9 The 126 km Virar-Alibaug corridor will (Economic Survey 2015-16) Key IT landmarks include Marol MIDC connect NH-8, Bhiwandi Bypass, NH-3, Industrial Area, Technopolis Knowl- NH-4 and NH-4B, Mumbai-Pune SEEPZ-SEZ is an export processing Female (million) 8.5 edge Park, Lokhandwala Industrial zone, it is developed across 111 acres Expressway, NH-17, etc. Area, Mindspace, International and houses several electronic and Proposed to be commissioned in Infotech Park at Vashi, Technology Sex Ratio (per ‘000) 863 gems & jewelry industrial unitsinclud- two phases, the estimated cost Centre at Belapur, Millennium ing 7 Standard Design Factories and of the project is about Rs.12,975 Business Park at Mhape and the IT 3 Gems & Jewelry Factories Average Literacy (%) 89.8 crore Hardware Park at Dronagiri
Page 02 01 REALTYREALTY SNAPSHOTS SNAPSHOTS MicroKey Insights Markets Rankings Micro Markets ranked on Absorption, Launches, Inventory Overhang and Livability Score Mira Road & Beyond 7 39 | 4,778 | 13% R Inventory Overhang (Months) | Wt. Avg. Absorption Price (Rs./sq.ft.) – Dec’16 | % Contribution Thane 5 in Unit Sales (Jan’16 to Dec’16) 36 | 8,667 | 11% Rank
Micro market Livability Score It is defined as zonal division of a city, arrived as an aggregate Weighted average evaluation of the social infrastructure in a of localities within a defined geographical boundary or on the given region, comprising educational institutions, health care basis of similar real estate characteristics. and retail outlets.
Absorption Inventory Overhang Beyond Thane No. of months required for the unsold units to be completely 3 Western Suburbs 1 Sales during Jan’16 to Dec’16 32 | 23,562 | 13% 39 | 3,566 | 27% sold o at the current rate of absorption.
Central & Eastern 2 Launches % Price Change Suburbs New launches during Jan’16 to Dec’16 38 | 17,694 | 13% 4 Navi Mumbai Dec’16 over Dec’15 34 | 7,610 | 14% - South Mumbai 8 55 | 37,539 | 2% Overall micro market ranking is based on the weighted average of four parameters for each micro market: Absorption, Launches, Inventory Overhang and Livability Score in accordance with their positive/negative correlation with the overall health of the micro Beyond Panvel Mumbai Harbour 9 market. 6 81 | 3,347 | 3% 26 | 21,234 | 5% Note: Period of analysis Jan’16 - Dec’16
Map is for representation purpose only, not to scale Micro Markets Ranked on Absorption
1 2 3 4 5 6 7 8 9
Beyond Navi Central & Eastern Mira Road & Western Mumbai Beyond South Thane Thane Mumbai Suburbs Beyond Suburbs Harbour Panvel Mumbai Micro Markets Ranked on % Price Change
1 2 3 4 5 6 7 8 9
South Beyond Mumbai Central & Eastern Western Mira Road & Beyond Navi Thane Mumbai Thane Harbour Suburbs Suburbs Beyond Panvel Mumbai
Micro Markets Ranked on Livability Score
1 2 3 4 5 6 7 8 9
South Mumbai Central & Eastern Western Navi Mira Road & Beyond Beyond Mumbai Harbour Suburbs Suburbs Thane Mumbai Beyond Thane Panvel Page 03 01 REALTYREALTY SNAPSHOTS SNAPSHOTS KeyTop Insights- 15 Localities
13 Vasai 32 | 4,750 | 71 Bhiwandi 14 35 | 3,778 | 67 Mira Road East 4 31 | 7,272 | 80
Dombivali Dahisar 3 26 | 5,258 | 76 11 28 | 12,082 | 80
Badlapur East 8 21 | 3,253 | 70 Kandivali West 6 22 | 13,110 | 83
Malad East - 12 46 | 13,037 | 86 Thane West 1 36 | 8,667 | 84 Goregaon West Ambernath East 10 32 | 14,528 | 87 15 30 | 3,362 | 71
Powai 5 24 | 16,934 | 93 Kharghar 9 31 | 8,187 | 81
Chembur 2 21 | 16,550 | 98 Ulwe 7 18 | 5,994 | 70
Map is for representation purpose only, not to scale
R Locality Rank Inventory Overhang (Months) | Wt. Avg. Absorption Price (Rs./sq.ft.) - Dec’16 | Livability Score Overall locality ranking is based on the weighted average of four parameters for each locality: Absorption, Launches, Inventory Overhang and Livability Score in accordance with their positive/negative correlation with the overall health of the locality.
Note: Period of analysis Jan’16 - Dec’16 Page 04 01 REALTYREALTY SNAPSHOTS SNAPSHOTS MicroKey Insights Market Categorization Micro Market Localities Andheri West, Bandra West, Borivali East, Borivali West, Dahisar, Goregaon West, Western Suburbs Jogeshwari West, Juhu, Kandivali East, Kandivali West, Khar, Mahim, Malad East, Malad West, Santacruz West, Ville Parle East, Ville Parle West
Andheri East, Bandra East, Bandra Kurla Complex, Bhandup East, Bhandup West, Central & Eastern Dharavi, Ghatkopar East, Ghatkopar West, Goregaon East, Jogeshwari East, Kanjurmarg, Suburbs Kurla, Matunga, Mulund East, Mulund West, Powai, Santacruz East, Sion, Vikhroli
Agripada, Babulnath Road, Colaba, Dadar East, Dadar West, Fort, Girgaon, Lower Parel, - South Mumbai Mahalaxmi, Napeansea Road, Parel, Peddar Road, Prabhadevi, Tardeo, Worli
Mumbai Harbour Byculla, Chembur, Deonar, Mazagaon, Sewri, Wadala
Mira Bhayandar East, Bhayandar West, Boisar, Manor, Mira Road East, Naigaon East, Nala Road & Beyond Sopara, Palghar, Saphale, Uttan, Vasai, Virar
Thane Thane East, Thane West
Ambernath East, Ambernath West, Ambivali, Asangaon, Badlapur East, Badlapur West, Beyond Thane Bhiwandi, Diva, Dombivali, Kalyan East, Kalyan West, Karjat, Khardi, Murbad, Navgaon, Neral, Shahapur, Sil Phata, Titwala, Ulhasnagar, Vajreshwari, Vangani, Vasind, Warai
Airoli, Belapur, Dronagiri, Ghansoli, Kalamboli, Kamothe, Karanjade, Kharghar, Navi Mumbai Koperkhairane, Navade, Nerul, Panvel, Sanpada, Seawoods, Taloja, Turbhe, Ulwe, Vashi
Beyond Panvel Chowk, Kewale, Khalapur, Khandala, Khopoli, Koproli, Pen, Rasayani, Umroli
Page 05 01 REALTYREALTY SNAPSHOTS SNAPSHOTS CONTACT PROPTIGER FOR REAL ESTATE INSIGHTS: Detailed analysis of micro markets | Market intelligence report | Micro market surveys | Price sensitivity analysis | City dashboards and trends | Demand assessment
ANURAG JHANWAR, MRICS Head – Consulting and Data Insights [email protected] +91 - 99678 49666
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