RESIDENTIAL MARCH 2019 MARKETBEATS

85% 54% 47% SHARE OF RG SALAI IN SHARE OF UNITS LAUNCHED GROWTH IN NUMBER OF NEW LAUNCHES IN AFFORDABLE SEGMENT UNITS LAUNCHED (YOY)

RENTAL VALUES AS OF Q1 2019 QoQ YoY Short HIGHLIGHTS Average quoted rent Submarket change change term (INR/month) (%) (%) outlook Rise in unit launches High-end segment Central 100,000 – 250,000 0% 0% In Q1 2019, unit launches increased by 47% y-o-y over the same period, to nearly Off Central-I 90,000 -- 150,000 0% 0% 2500 units. This surge was primarily driven by the launch of four projects by a Off Central-II 50,000 – 130,000 0% 0% prominent city based developer. The Southern quadrant continues to dominate 100,000 – 250,000 0% 0% residential launches, as the locations of Suburban South I such as , Mid segment Karapakkam, and Padur, accounted for 85% of the units launched Central 50,000 – 75,000 0% 0% during the quarter. Demand in the city is supported by an increasing workforce and Off Central-I 45,000 - 80,000 0% 0% stable prices aiding purchase decisions. Off Central-II 25,000 – 50,000 0% 0% Suburban South-I 22,000 – 32,000 0% 0% Affordable housing in focus Suburban South-II 15,000 – 25,000 0% 0% Affordable housing accounted for 54% of the total launches, with developers keenly CAPITAL VALUES AS OF Q1 2019 QoQ YoY Short Average quoted rent exploring this segment even in the areas of (Post toll RGS) where Submarket change change term (INR/month) the working population comprises a significant portion of the buyer profile. The (%) (%) outlook High-end segment momentum in this category is being driven by the GST benefits and change in Central 23,000 – 28,000 -10% -10% affordable housing definitions which make it quick moving in the primary sales market. Off Central-I 18,000 - 22,000 0% 0% Off Central-II 12,000 – 17,000 0% 0% East Coast Road 6,000 – 9,500 0% 0% Sales picking up momentum Mid segment A Cushman & Wakefield Capital values in the luxury segment in Central submarket have undergone a Central 14,000 – 18,000 0% 0% Research Publication Off Central-I 15,000 - 18,000 0% 0% correction of around 10%, both on q-o-q and y-o-y basis on account of price softening Off Central-II 9,000 – 15,000 0% 0% in this category. Suburban South-I and West along with the East Coast Road Suburban South-I 5,000 – 7,500 4% 4% Suburban South-II 4,000 – 7,000 0% 0% DATA residential corridor saw prices for mid-segment projects show a q-o- q increase of INTO Suburban North 4,200 - 7,000 0% 0% ACTION 4-5%. Rental values maintained status quo across both segments. Sale momentum in Suburban West 4,400 – 7,000 5% 5% East Coast Road 4,500 – 6,500 5% 5% completed units continues to be healthy, with buyers and investors, who were on a www.cushmanwakefield.com wait and watch mode, now executing their purchases. CHENNAI RESIDENTIAL MARKETBEATS MARCH 2019

Rohan Sharma Director SIGNIFICANT PROJECTS LAUNCHED IN Q1 2019 Research Services, Tel: +91 124 4695555 BUILDING LOCATION DEVELOPER UNITS LAUNCHED RATE**(INR/SF) [email protected] Savoye Karapakkam Casagrand 339 4449 Castle Manapakkam Casagrand 216 4600 Ascot Alandur DRA Group 106 7595

SIGNIFICANT PROJECTS UNDER CONSTRUCTION IN Q1 2019

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION

Crescendo Nolambur Casagrand 351 Q4 2020 Clover by the river Kotturpuram Appaswamy Real Estates 300 Q4 2021 Courtyards Sholinganallur Prestige Group 150 Q1 2021

SIGNIFICANT CONSTRUCTION COMPLETIONS IN Q1 2019

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION Artistica Shollinganallur Adroit 124 Q1 2019 Mithila Pallavaram Krishna Constructions 64 Q1 2019

Data collated from primary and secondary resources. Estimations are subject to change * Rental and capital values have been depicted only for key submarkets ** Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development DATA Charges, etc. INTO The above values for high-end segment are for units typically of 2,000-4,000 sf ACTION The above values for mid segment are for units typically of 1,600-2,000 sf ^ Affordable housing has been defined as units with a carpet area of 60 sq.mt in metros / 90 sq.mt in non-metros and value up to INR 45 lakhs

KEY TO SUBMARKETS

A Cushman & Wakefield Central: Boat Club, Poes Garden, Nungambakkam Research Publication Off Central-I: R.A. Puram, Abhiramapuram, Alwarpet and Teynampet Off Central -II: T.Nagar, Mylapore, Annanagar, Kilpauk, , Adyar, Kotturpuram, Besant Nagar, K.K.Nagar, Velachery, Vadapalani Suburban North - Madhavaram, Perambur,Thondiarpet Cushman & Wakefield (NYSE: CWK) is a leading global real estate Suburban West: Mogappair, Nolumbur, Ambattur, Poonamallee High Road services firm that delivers exceptional value for real estate occupiers Suburban South-I: Rajiv Gandhi Salai (Thiruvanmiyur to Kelambakkam) and owners. Cushman & Wakefield is among the largest real estate Suburban South-II: GST Road (Alandur to , Porur) services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. www.cushmanwakefield.com

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