Propindex Mumbai OND2019.Pdf

PropIndex | Magicbricks Mumbai Q4 2019

Residential Market Insights Market Dynamics Suburban localities have seen most of the action Parameters India Mumbai

Mumbai residential market faced considerable headwinds in the ﬁrst half of the year, with NBFC crisis and Demand+ +4.0% -1.6% oversupply in the luxury segment striking the developers. However, riding on the festive season, Q4 2019 witnessed Supply++ +1.5% -2.2% a marginal uptick in prices of 0.4% QoQ. Price Index+++ +1.2% +0.4%

Notes: The price change in case of both the Under-Construction (UC) and Ready-to-Move (RM) property segments was + represents the QoQ change in volume of property positive, though the UC segment had higher gains as compared to RM properties. Oversupply in the luxury segment searches on Magicbricks website in Q4 2019. ++ represents the QoQ change in volume of active listings continued to drag down the prices in the premium localities of South Mumbai with QoQ decrease recorded up to 7% on Magicbricks website in Q4 2019. in some of the areas. +++ represents the QoQ change in the weighted average price at India and city level Source: Magicbricks Research

Key Developers based on Ready to Move Price Index active listings "City level weighted 20,000 Lodha Group average prices have Kanakia Spaces 18,000 remained stagnant for Runwal Developers

f the last 5 years, while s

f The Wadhwa Group p s 16,000 e p

premium segment c i R

r Kalpataru Limited N P I

. remained under e g c v i 14,000 Godrej Properties r A

P pressure "

e Oberoi Realty Limited g a r

e 12,000 L&T Realty v A 5 Year Rustomjee 10,000 Change YoY QoQ Shapoorji Pallonji Real Estate 4 5 6 7 8 9 0

1 1 1 1 1 1 2 -0.5% -0.1% 0.4% 0 0 0 0 0 0 0

2 2 2 2 2 2 2 Note: Notes: The above table represents the top developers by number 1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 2019 of active listings on Magicbricks website in Q4 2019 2. The data represents price trend for properties in multistorey and builder ﬂoors only Source: Magicbricks Research Source: Magicbricks Research

Key Projects based on Under Construction Price Index consumer searches "After a volatile four 20,000 quarters, UC property Trilok Dharshan Bhayandar East 18,000 listing prices witnessed Orchid Ozone Dahisar East f s Runwal Greens Mulund West p 0.8% QoQ increase,

f R s p N

16,000 I

Global City Virar West

e showing resistance of e c i c i r r P

sellers to any further P Evershine City Vasai .

g e v g 14,000 a A price reduction." Mira Road

r DB Ozone e v

A Lodha Altamount Altamount Road 12,000 5 Year Vasant Oasis Andheri East Change YoY QoQ 10,000 Lodha Aqua Mira Road 4 5 6 7 8 9 0

1 1 1 1 1 1 2 8.2% -0.2% 0.8%

0 0 0 0 0 0 0 Omkar 1973 Worli 2 2 2 2 2 2 2

Notes: Note: 1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 2019 The above table represents the top projects by consumer 2. The data represents price trend for properties in multistorey and builder ﬂoors only preference on Magicbricks website in Q4 2019 Source: Magicbricks Research Source: Magicbricks Research

QoQ changes in various price segments Key Trends to Watch Out

Price Bracket (INR/sqft) - With new state government taking the < 10000 10000-15000 15000-20000 > 20000 seat in the recent elections, we need to wait and see how it will take the city's 2.6% "Buyers showed clear infrastructure development and real preference for 'less estate sector. 1.6% 1.5% than INR 15,000 per 0.6% - The development of Navi Mumbai sqft segment', International Airport and corporates garnering most of the interest shifting towards more -0.5% aﬀordable locations, are ikely to push -0.9% demand and price buyers to Navi Mumbai. increases for the -2.0% - Mumbai metro line 3 (Colaba-Bandra- quarter" SEEPZ), expected to be partially -3.1% operational by next year, may provide RM UC RM UC RM UC RM UC some relief to South Mumbai market

Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets Source: Magicbricks Research

Mumbai facing demand-supply Demand heavily tilting towards 1 BHK configuration mismatch DEMAND SUPPLY Smaller unit configurations continue to Above 3 BHK Above 3 BHK dominate the Mumbai market with 1 and 2 BHKs 3 BHK 6% 6% 1 BHK attributing to almost 80% of the demand. 3 BHK 15% 28% 23% Mumbai residential market suffers from a 1 BHK visible demand-supply mismatch, with 1 BHKs 45% forming less than 30% of the supply, while almost half of the demand concentrated in this segment. 2 BHK 2 BHK 34% "Similarly, 44% of the buyers 42%

Notes: are interested in buying 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHKs) configuration 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration properties costing 'less than INR Source: Magicbricks Research 10,000 per sqft', while only 30% of the properties fall in this segment." Affordable segment supply unable to catch up to demand (Price in INR per Sqft)

- Almost 25% of the buyers are still looking at DEMAND Price buckets in INR per sqft SUPPLY Price buckets in INR per sqft options costing more than 'INR 20,000 per sqft', indicating consumers' appetite for premium > 20000 > 20000 properties in Mumbai city, reﬂecting its status 22% < 10000 as the costliest city of India. 28% 30% < 10000 - Buyer preference for cheaper options has led to 44% the peripheral micromarkets witnessing most of the action, both in terms of the supply and demand. 15000-20000 19% -Malad and areas beyond it form the top 4 15000-20000 10000-15000 10000-15000 micro-markets popular amongst the consumers, 26% 16% 14% with 'Beyond Mira Road' (Vasai-Virar) continuing to be the most searched . Notes: micro-market in the last two quarters. 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by price buckets

Source: Magicbricks Research

Top Micromarkets by consumer Propensity of demand and supply in terms of searches Demand/Supply Demand searches and listings by localities

Micro-Market Price Range Q4 Rank Q3 Rank

Beyond Mira Road 3398 - 7516 1 1 Malad-Kandivali 10930 - 243.. 2 2 Mira-Bhayandar 6207 - 12013 3 3 Borivali-Dahisar 8802 - 21252 4 5 Andheri West 8860 - 42206 5 4 Vasai West Andheri East 13395 - 240.. 6 6 Goregaon 8615 - 27075 7 7

Note: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q4 2019 2. Price ranges represent the range of avg locality prices in the micromarket in INR per sqft Source: Magicbricks Research

Top Micromarkets by active listings aMicro-Market Price Range Q4 Rank Q3 Rank

Malad-Kandivali 10930 - 24317 1 1 Mira-Bhayandar 6207 - 12013 2 2 Chembur Beyond Mira Road 3398 - 7516 3 5 Goregaon 8615 - 27075 4 4 Borivali-Dahisar 8802 - 21252 5 7 Marine Drive Powai 15570 - 25672 6 3 Andheri East 13395 - 24080 7 6 © OpenStreetMap contributors Colaba

Note: Note: 1. Top micro-markets of the city, ranked by their active listings on 1.Above map depicts the key localities of the city, with the size of the bubble depicting the demand (consumer preference) /supply (active listings) Magicbricks in Q4 2019 for properties in the localities on Magicbricks website in Q4 2019 2. Price ranges represent the range of avg locality prices in the 2. This is an interactive map available on Magicbricks.com under Propindex section. micromarket in INR per sqft. Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. Source: Magicbricks Research Source: Magicbricks Research

Q4 2019 Price changes for the city's major localities

Chembur -4.8%

Mazgaon 2.8%

Note: Avg. Rm-Pc 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 2019 2. Color of the bubble represents price change in Q4 2019, with green color representing price increase and red color price decrease. -7.5% 7.5% 3. This is an interactive map available on Magicbricks.com under Propindex section. -5% -2.5% 0% 2.5% 5% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

- With ticket size of less than INR 1 Crore, Peripheral localities remained in demand due to aﬀordability - Residential demand for peripheral areas in Mumbai in the sub INR 10,000 per sqft segment transformed into price increment in the range of 1 to 5% QoQ in most places - Price decline was most visible in the 'above INR 15,000 per sqft' properties indicating buyers unaﬀordability above this range. Source: Magicbricks Research

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

Average QoQ Average QoQ Average QoQ Average QoQ Locality Name Locality Name Locality Name Locality Name Price Change Price Change Price Change Price Change

Beverly Park 8,036 -2.5% Andheri East 18,054 -1.4% Andheri West 23,180 1.8% Bhandup West 14,696 -5.6% Bhayandar East 8,488 5.0% Borivali East 15,983 -0.5% Bandra East 31,743 -6.5% Bhayandar West 9,635 3.0% Borivali West 17,507 5.0% Bandra West 40,273 -5.2% Dahisar 12,701 5.0% Mira Bhayandar 8,246 5.0% Chandivali 18,332 -1.9% BKC 30,831 -5.5%

Mira Road 8,328 5.0% Chembur 18,580 -4.8% Colaba 40,944 -7.0% Naigaon East 4,869 5.0% Dahisar East 11,732 2.9% Film City Road 15,470 0.9% D.n. Nagar 22,993 -7.0% Nalasopara 4,771 0.8% Ghatkopar West 18,796 -1.4% Dadar East 31,442 -7.0% Jankalyan Nalasopara East 5,123 5.0% 13,502 5.0% Nagar Gokuldham 16,375 -1.7% Dadar West 33,128 -0.3% Nalasopara West 4,589 1.8% Goregaon East 17,074 -7.0% Ghatkopar East 20,730 5.0% Vasai 5,558 3.0% Lokhandwala 14,537 -0.6% Twp Goregaon West 17,456 2.9% Juhu 35,603 2.4% Vasai East 5,020 3.0% Ic Colony 16,695 5.0% Khar West 38,202 -4.1% Note: 6,337 2.8% 1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. This is an inter1ac9ti,v5e3 t3able ava-i7la.b0le% on Magicbricks.com under Propindex s2e5ct,i7on0.6 -4.6% 2. The locality prices are calcu4la,7te6d9 by avera5g.i0ng% 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. 16,096 2.3% 31,922 -7.0% 4. The color of the numbers re4p,r4es2e6nt the p1ric.1e %change in Q4 2019, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research 4,856 5.0% 15,673 -0.4% 20,076 -4.3% For more information and research related queries, please contact: 15,645 -7.0% 28,674 -7.0% Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant Manager 15,262 5.0% 32,622 -6.5% [email protected] [email protected] [email protected] [email protected] 15,575 -2.4% 31,671 -7.0% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. 15,542 3.2% 27,107 2.8% 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 accept any liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regula1ti5on,9s/9di3rections.1.4% 30,396 5.0%

16,541 -4.8% 35,920 -7.0%

19,264 -1.2% 22,298 5.0%

16,096 -1.3% 34,460 -2.8%

16,849 -6.3% 22,607 -5.2%

17,130 -1.3% 45,770 -7.5%

18,513 -1.0% 20,562 -2.6%

23,946 5.0%

27,548 -3.9%

30,842 -0.1%

20,754 -1.6%

35,918 -7.0%

43,037 -7.5%