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FOREWORD

PropIndex is now in its second year! We are delighted to bring to you the fifth edition of PropIndex. Our previous anniversary issue was very well received and we thank you for the generous comments and feedback for this issue.

It has been our endeavour to add more information and better depth to every edition and we hope that such improvements help to make PropIndex more relevant and enabled to capture market trends. In this issue, we have added – (a) “Realty News”, which are stories potential for impact on markets in the future (b) trend of “rankings of top localities” based on changing user demand and (c) improved Demand Analytics with City aggregates. You will continue to find our regular indices here – the National/City Property Index (NPI/CPI), Listed Price Monitor, Rent Monitor, Yield Monitor, Buyer Analytics and Capital Values.

As always, we hope this issue of PropIndex helps you to understand the market better and take an informed and intelligent real estate decision. We value the time spent by various banks/financial institutions, consultants, developers and policy makers to review the findings in the PropIndex. We welcome valuable suggestions from our readers to enrich the quality of our report. Do write in!

Sudhir Pai Business Head, MagicBricks.com [email protected] METHODOLOGY

MagicBricks such a way that individual cities (these have been PropIndex properties are aggregated chosen based on their into respective cities and activity levels) and has an MagicBricks.com then to the National Index. individual city report for PropIndex is a tool which Weightages for PropIndex each of these cities. While empowers property are based on the supply of the NPI and its movements seekers and investors with properties within the are of interest to the detailed information on locality/city. Based on this expert community of the movement of structure, PropIndex gives bankers, builders and residential apartment a realistic picture of investors, the PropIndex prices and supply of trends in price/supply has also taken care to properties in . No across different property explain the nuances of credible property index markets in each city. We index movements at the can be a function of direct have used different locality level that would values as the changes are weightages for Listed Price help the huge base of governed by multiple Monitor/Rent Monitor. MagicBricks.com factors. Therefore, read as a whole, consumers. PropIndex along with MagicBricks.com Insights into consumer tables provided for Listed PropIndex has taken this demand have been Price Monitor, Rent reality into account and gathered through analysis Monitor, Yield Monitor and produced an index based of search information on Capital Values, gives an on listing of apartments the site. This helps excellent perspective of and their capital and understand the best the property market rental values on the localities by demand, the performance in the website. type and configuration of quarter. MagicBricks.com has over units as well as the budget- 400,000 active properties While listing and its wise preferences. values/supply provide a posted by more than The PropIndex is the result level of understanding 1,00,000 active users in 300 of meticulous research at into the market, there are cities and 3,500 localities. the locality level and meticulous data checks to Our users include owners, through detailed prevent aberrations agents and developers. discussions with experts at creeping into the Index. MagicBricks.com’s offline These are based on Methodology and online initiatives. statistical calculations, Apartment values are industry inputs and logical The Indian real estate based on listings on interpretations. market is dynamic and the MagicBricks.com PropIndex reflects those The National Property PropIndex. These include changes. Since it is derived Index (NPI) is indicative of multistorey apartments from a dynamic database, the extent of activity as and single units on plotted additions and deletions of well as price movements developments, referred to localities happen as a across cities and localities as builder floors on function of market in the major cities active MagicBricks.com. dynamics. on MagicBricks.com. The The Index is structured in index includes the top 11 GLOSSARY & DEFINITIONS

There is a wealth of information within these pages. For better readability, we have presented some data as tables and others as graphs. Between them, you will find how property markets have performed in the Apr-Jun 2012 quarter from many different perspectives – from that of capital appreciation, from a rental/yield realisation perspective and from the stand of supply of properties. Also understand what consumers want in the Demand Analysis section.

We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of the performance of the property market within each city. Here are details of what you will find in each of the city reports enclosed within -

1. City Property Index – This is a composite index which is a function of supply of properties as well as the average capital appreciation/drop in various localities of the city in the quarter. The city index is the weighted average of the average rate per square foot in that locality and the supply of properties from that locality. Premium localities (with higher average rate per square foot) as well as localities with higher supply of properties will have a bigger impact on the Index. For example, if the supply of properties from a premium locality drops, that locality will end up having a lower weightage in the index which in turn will push the Index downwards (and vice-versa). On the other hand, supply of properties remaining unchanged, the index will be influenced by capital appreciation within the locality.

2. Listed Price Monitor – From this issue, we have changed the name of “Price Monitor’’ to “Listed Price Monitor’’ to reflect the metric more clearly – this metric reflects the movement of “listed prices”on MagicBricks.com over a period of time. This metric shows the capital appreciation/drop within a locality & is calculated on the basis of movement in the “average rate per square foot” within that locality. By and large, the movement in the “average rate per square foot” reflects capital appreciation/ drops. However, in a few select cases, we have observed that the average rate per square foot moves due to a change in the mix of apartments within that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rate, changes over the quarter). In these few circumstances, the Listed Price Monitor will, in turn, reflect this input. Such changes have been explained in the text of the City Reports.

3. Rent Monitor – This reflects the rental appreciation/drop within a locality. It is calculated on the basis of movement in the “average rent per square foot” within that locality. By and large, the movement in the “average rent per square foot” reflects rental appreciation/drops. However, in a few selected cases, we have observed that the average rent per square foot moves due to a change in the mix of apartments within that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rent, changes over the quarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Such changes have been explained in the text of the City Reports.

4. Yield Meter – Yield is the annual rate of return earned on property. The Yield Meter depicts the gross yield percentages across various localities. Gross yield is a ratio of average annual rental value to the average capital value of the property.

5. Capital Value Tables (given in Annexures) – This shows the actual range of prices within which properties were available in each locality in the quarter. Prices are shown in rupees per square foot basis; these are the prevailing rates for properties in each locality.

6. Demand Analysis – This analysis of consumer demand is based on searches and requirements that users have performed on MagicBricks.com. The top localities by demand gives an insight into consumer peferences. The demand data has been used to arrive at various aspects of consumer requirements including Budget-wise analysis, Property type analysis and BHK configuration analysis.

7. Realty News – Property market performance is also dependent on drivers outside the purview of buying and selling. There are broadly four key drivers that determine the prospects of real estate – infrastructure such as water and power, transport links creating new growth corridors, policy such as rental laws, property tax, etc and return on investment. From this issue onwards, PropIndex focuses on news bytes that impact future prospects of real estate in the city. VOL 2, ISSUE 1; APR-JUN, FY 2012-13

NATIONAL PROPERTY INDEX (NPI) APR-JUN 2012

n National Property Index rose by 4 per cent. n Affordable localities were found to be more in demand in comparison to premium areas across different cities. n Increasing demand for 1 BHK units registered across multiple cities. n Metro connectivity contributed to increase in property rates across cities. APR-JUN 2012 and remained the major contributors to the NPI. The National Property Index significantly to the index values of The MagicBricks.com PropIndex (NPI) went up by over 4 per cent in that city. the Apr-Jun 2012 quarter is based on dynamic data mined compared to Jan-Mar 2012 quarter. from the portal to show the levels This Index is reflective of trends of supply and the type of property across multistorey and single The NPI is a weighted average of listed in each locality. These are floor apartments (commonly supply and prices across 11 cities cleaned with complex algorithms known as builder floors). in India. to remove outliers and arrive at the index values at locality, city Out of 11 cities in the Apartment IN THIS REPORT: Index, nine have seen a rise. The and national levels. The Index is cities include , Gurgaon, impacted by the number and the National Property Index...... 1 Noida-, , Pune, average price of properties in , , , each locality and the locality’s Delhi...... 4 weightage in the city. and Bangalore. Gurgaon...... 9 Ahmedabad topped the City Index This is based on its contribution Noida & Ghaziabad...... 15 chart by registering 10 per cent to the city’s property databank. increase followed by Delhi, The listings on the website are by Mumbai...... 23 Kolkata and Noida with 6 per cent end users and market players and increase each. Ghaziabad, Pune the Index is based on a mix of Pune...... 29 and Mumbai witnessed 4-5 per newly developing and established Ahmedabad...... 34 cent rise followed by Chennai and localities. Hyderabad (1-3 per cent). Kolkata...... ,...... 39 New and old constructions also Bangalore showed stable index Chennai...... 44 values. Gurgaon witnessed a drop form part of the listings. The of 4 per cent in the Apr-Jun 2012 composite index value of a city Hyderabad...... 50 quarter. draws from the changing index values of different localities. Bangalore...... 56 The NPI is a weighted average of Localities that were more active Annexures...... 65 city indices. Mumbai, Gurgaon, compared to others can contribute 2 VOL2, ISSUE 1; APR-JUN, FY 2012-13

NATIONAL PROPERTY INDEX witnessed in premium localities. the transactional values of multistorey apartments in the There are certain common l Cities continued to witness city remained stable. threads across cities: good demand for properties in and around commercial The Bangalore Index value l Affordable localities saw a centers, for outright purchase remained same as the Jan-Mar better rise in values as as well as rentals. 2012 quarter, which was 112. The compared to premium localities trend in the Bangalore realty in cities such as Mumbai, During Apr-Jun 2012 quarter, the market this quarter tilted towards Ahmadabad, Pune and Kolkata. Ahmedabad Index shot up by 10 areas offering affordable property per cent, the maximum among all options, while the premium l Areas that witnessed good the cities. There has been an localities or areas having more infrastructure, Metro overall rise in quoted values while premium residential options saw connectivity and better facilities saw a rise in values. l Increased values were registered across IT-driven localities in cities such as Bangalore, Pune, Kolkata and Chennai for both outright purchase and lease. l Even though the demand for traditional unit-size properties in the 2 and 3BHK categories remained stable across the cities, a growing consumer preference towards smaller 1BHK units was recorded across cities such as Ahmedabad, Bangalore, Chennai, Pune, Mumbai and Hyderabad. Supply of larger 3BHK units outstripped demand across these cities. l Multistorey apartments remained the most sought-after property type across the cities. Demand for larger unit-size properties was mainly VOL2, ISSUE 1; APR-JUN, FY 2012-13 3

a dip. A dip in capital values was values owing to the prevailing recorded in certain localities such water problems. The major TOP YIELD GROSSERS as Sarjapur Road, Electronic City contributors to the slight increase Rental yield is a factor of the changes in and Hebbal, largely because in the city index were Kukatpally rental values locality-wise vis-à-vis the affordable peripheries of premium and Madhapur, which scored on changes in capital values. Given below localities registered a surge in the proximity to IT hubs and are the top yield-grossing localities in listing, which prevented the city affordable prices. each city index from any rise. The Kolkata Index value rose by Locality Gross yield The Chennai Index rose by 3 per 6 per cent. Almost all the localities Bangalore, Electronic City 6.30% cent. More than 60 per cent of the recorded a hike in the average localities witnessed marginal rise capital values in Apr-Jun 2012 Kolkata, EM Bypass 5.30% in average capital values, which quarter, which impacted the city Chennai, OMR 4.88% explains the slight increase in the index positively. This is mainly Hyderabad, Miyapur 4.32% city index. The absence of overt owing to increased Metro speculation has also ensured that connectivity. In certain localities Ahmedabad, SG 4.07% the developer has moved pricing of Metro work is still in progress, but Gurgaon, Sushant Lok- 3.58% homes in a stable and gradual it has already escalated values. manner. Mumbai, East 3.46% The Noida Index value was up by Pune, Wanowrie 3.33% The Delhi Index rose by 6 per cent. 6 per cent in the Apr-Jun 2012 Unlike the previous quarter, the quarter. Metro connectivity, Ghaziabad, Indirapuram 3.13% rise in values this quarter has only planned expansion through well- Noida, Sector-62 3.03% been restricted to certain pockets. developed infrastructure, presence The upward trend was attributed of multinationals and competitive Delhi, Vasundhara Enclave 2.36% to certain localities such as prices compared to Delhi drove a Vasundhara Enclave, Uttam Nagar, steady demand for all types of Chittaranjan Park, Sarita Vihar residential formats in Noida. and Mehrauli. An improvement in Sectors 45, 76, 78 and 93 in Noida the job market is expected to bring and some pockets on the Greater CAPITAL GAINS back the real estate market in Noida Expressway (Sectors 137 and Delhi to the earlier levels of 93A) saw a significant increase of The table given below indicates growth. 9-13 per cent in capital values of maximum increase in capital values multistorey apartments, positively in each city The Ghaziabad Index rose by impacting the city index. 5 per cent. Localities such as Locality % Change Crossings Republik and Bhopura The Pune Index value rose by Kolkata, EM Bypass 16% saw a significant rise in capital 4 per cent. There was consistent values which pushed the city growth in the average capital Pune, Wagholi 15% index upwards. While Crossings values across the city. Localities Gurgaon, Dwarka Expressway 14% Republik registered growing buyer such as Wagholi in the East and interest due to the land acquisition Balewadi in the West saw the Ghaziabad, Crossings Republik 13% row in Noida Extension, Bhopura maximum increase in capital Mumbai, Bandra West 12% attracted investors with limited values. Improved infrastructure budget, owing to the affordable and a number of new projects Bangalore, Road 11% prices and the expected entry of impacted values positively. the Metro in the area. Hyderabad, Madhapur 11% The Mumbai Index rose by 5 per The Gurgaon Index witnessed a cent. Overall increase in capital Noida, Sector-78 11% dip in values, registering a fall of values in more than 90 per cent of Delhi, Uttam Nagar 10% 4 per cent in the Apr-Jun 2012 the localities pushed the capital quarter. Even though the capital index upwards. Localities across Ahmedabad, Bodakdev 6% values for multistorey apartments such as witnessed a hike in over 90 per East and West, , Chennai, Velacheri 4% cent localities, a decrease in the in the north, and number of active listings in in saw a steady rise in certain localities has tilted the city values. Affordable residential index negatively. options saw many takers which pushed the average capital values The Hyderabad Index value rose in Mira Road and Virar. by 1 per cent. Various localities witnessed falling average capital VOL2, ISSUE 1; APR-JUN, FY 2012-13 23 MUMBAI

PROPINDEX - MUMBAI QUICK STATS

n Yield Meter: Yield ranges between 1.98% to 3.46% n Capital Values rose in 96% localities n Rental Value rose in 63% localities n PropIndex rose from 111 to 117 n Listed Price Monitor rose from 111 to 123

capital values in the range of 3-8 per cent, signifying improved demand in the latest quarter. Compared to the previous quarter, buying had picked up in the last three months. CITY PROPERTY INDEX and infrastructure activities initiated high demand for This, realtors believe, can be The Mumbai Property Index residential apartments here. attributed to the fact that buyers posted 5 per cent increase posted the lowest yield were no longer waiting for the compared to the NPI that rose at 1.98 per cent in the Apr-Jun ‘correction’ in the market to by around 4 per cent in the quarter. Bandra East and happen. It was witnessed that the Apr-Jun 2012 quarter. Kamothe, like the Jan-Mar year-long speculation in the quarter, registered the highest The Listed Price Monitor Mumbai market somewhat and lowest yields respectively. registered an increase of 11 per subsided. Also, high quality cent during the Apr-Jun quarter. LISTED PRICE MONITOR constructions saw an increase in This highlighted the overall demand, therefore raising values. The Apr-Jun 2012 quarter has increase in capital values across Localities like Andheri West, been a fruitful one for the the city, pushing the capital index , East & West, Mumbai residential market. Most upwards. Localities such as Virar, Mira Road, West, localities witnessed a rise in , West, and Bandra East, Andheri East, Bandra West, West registered the maximum rise in values. LISTED PRICE MONITOR The MagicBricks Yield Meter ranged between 1.98-3.46 per cent in the Apr-Jun 2012 quarter. Bandra East posted the highest yield at 3.46 per cent, because of continuous demand within and near the Bandra Complex (BKC). An increase in commercial

11% Price Monitor indicates 11% increase in average sale price MUMBAI 24 VOL2, ISSUE 1; APR-JUN, FY 2012-13

RENT MONITOR APR-JUN 2012

Rent Price Percentage Change n Mumbai City Index rose by 5 per cent n Andheri, Goregaon, Kharghar, Bandra West, West, Koper Khairane saw a rise of 2-8 per cent in capital values n Rental values also saw a healthy rise except few localities in the Apr-Jun quarter

market in the near future. However, the demand-supply mismatch will continue. Nasim Nadvi of Alif Estate Consultants, talking about Andheri East & West, points out that there is no spare land available for further development in these areas. However, increased demand is Ghatkopar West, Koper Khairane, was the demand in projects that expected to jack up prices in Goregaon East & West saw an were launched recently or are in Andheri East & West. increase in capital values in the the process of being launched. According to Harish Pande of range of 2-8 per cent in the Bhandup West emerged as one of Property Solutions, the reason the Apr-Jun quarter. the best suburbs on this front. Mumbai market was down for the “Besides easy connectivity to past few months was because Farhan Khan of Housing Realtors , which makes it accessible points out that the demand and people were co-relating the to the Western suburbs, a number performance of real estate with values witnessed a corresponding of residential projects by leading rise in localities such as Goregaon that of the stock market. “The players such as Mahindra highs and lows at the bourses East & West due to steep rise in Lifespaces, , Neptune prices in Bandra. “There was a dictated sentiments. A low market and Kalpataru Groups have discouraged investments.” shift from Bandra to more propelled demand and values,” affordable localities, with 1 and says Naresh Joshi of Prime However, the mindset is changing 2BHK configuration most asked Property Consultant. with buyers shrugging off for,” Khan says. speculations. “A good number of Observers predicted further price enquiries this quarter as opposed The primary reason for uniform rise for the Mumbai residential rise in values in most localities to the previous quarter indicated YIELD METER n Bandra East topped the gross yield chart quarter-on-quarter, at 3.46%. However, gross yield registered a drop by 0.34% in this quarter in comparison to Jan-Mar 2012 quarter.

n Kamothe continued to see the lowest rental returns, at 1.98%, with improvement of 0.05% in comparison to Jan-Mar 2012 quarter. VOL2, ISSUE 1; APR-JUN, FY 2012-13 25 MUMBAI

w positive signs. With a steep rise in RENT MONITOR Ne enquiries, asking values have in Top ten localities - Mumbai turn moved up marginally across Similar to the capital value trend, the Western suburbs,” Pande says. rental prices also saw a rise in Locality Rank most localities this quarter. Q1 Q4 With the rise in infrastructure Localities such as Bandra West, Andheri West 1 1 activities in developing localities, Goregaon West, Bhandup West including Versova-Ghatkopar and Kandivali West were the Powai 2 3 Metro line and setting up of exceptions that witnessed a fall in Andheri East 3 2 offices in Andheri, values will rental values. Goregaon East 4 5 continue to rise. Due to the overall Mumbai market Kandivali East 5 4 Localities providing affordable picking up, an increase in rental Mira Road 6 7 residential options are values was witnessed. However, Kharghar 7 6 performing better than developed the rising demand did not show a Malad West 8 9 neighbourhoods in Mumbai. For parallel rise in supply of instance, Mira Road and Virar apartments. Harish Pande of Bandra West 9 8 have seen a rise of 6 per cent and Property Solutions says that West 10 - 8 per cent in the Apr-Jun quarter. affordable and well-connected Note: Q1 Apr-Jun 2012, Q4 Jan-Mar 2012 Mira Road and Virar offer areas witnessed a rise in rentals. spacious apartments with Andheri West, Goregaon East, Khan of Housing Realtors amenities such as swimming Koper Khairane, Mira Road, reiterated the fact that people are pools, health clubs and green, Pokhran Road and Ghansoli being pushed to pay a open space. benefited on this front. These considerable amount, even for localities witnessed a rise of rent because of the quality The belt between Mira Road and about 2-6 per cent in rental values construction that most developers Virar emerged as a coveted in the latest quarter. are offering in their projects. destination for the middle-class, “Most tenants are single working particularly those travelling to the Andheri saw a number of professionals opting for a 1 or western suburbs. New townships, enquiries owing to the 2BHK apartments who work in educational institutions, commercial activities in the area. IT companies within the city or commercial setups, hospitals, and “People prefer this areas for the near western suburbs where a the proposal to improve rail scope of business activity. Also, plethora of companies have a connectivity can be attributed for the BKC is close,” says Pande. base,” Khan added. the demand.

w Ne R E A L T Y N E W S

The Mumbai market has been an indicator of property trends in the country. However, highly-speculative development because of intense scaling up of land values has led to several skews. Luxury markets are in oversupply, peripheral markets too have become overpriced, and second homes beyond the peripheries have good prospects. Policy changes in rental housing and high-rises in -Virar are expected to impact property markets. Luxury apartments lose lustre as slump bites or along the hills of on Mumbai Pune Highway. These are premium offerings, so be it a small apartment or a More than half of Mumbai’s luxury apartments, both developed spacious villa, customers are mainly looking for something that and under construction, remain unsold, signifying a sharp shift is different and out of ordinary. In that sense both villas and in the segment that has traditionally been insulated from the apartments with good facilities find takers, says realty experts. vagaries of economic cycles. Of the 3,300 luxury apartments being developed in Mumbai — and priced between Rs 10 crore and n MagicBricks.com Bureau Rs 100 crore — about 55-60 per cent are yet to be sold, as regulatory uncertainty, surging prices and supply glut prompt the Rental housing altered to make scheme viable super-rich to put their home buys on hold. The state government has decided to introduce major changes in n , Mumbai its ambitious rental housing scheme. At a recent meeting, the government agreed on the need to alter the scheme, which is yet Second home market picking up in Mumbai to take off in a big way. It has now been decided to increase the carpet area of offered under rental housing from the In Mumbai real estate, the buzz is that the second home market is existing 160 sq ft to 300 sq ft. This change was mainly driven by an immune to recession. Not entirely true but to some extent it can observation that the density would be in the range of be said that this segment tends to hold its own, as the reasons for 2,000 per hectare. Assuming that a family of five resides in each buying a second home are mostly investment or status. Most of tenement, the population density for each scheme would come to the projects in the second home market are on the outskirts of the 10,000 per hectare. city, in areas such as Alibaug, (along the Mumbai highway), , Shahpur (Mumbai Nasik highway), or Murbad n , Mumbai To read full story and more news go to www.content.magicbricks.com MUMBAI 26 VOL2, ISSUE 1; APR-JUN, FY 2012-13

BUYER DEMAND ANALYSIS

Budget Wise Analysis Mumbai witnessed a deficit of Budget wise Analysis - Central Mumbai more than 14 per cent in both The high property prices existing segments. A significant disparity in Mumbai is clearly visible in the 100 Demand% Supply% 81 was observed between the demand )

data as the demand and supply % ( 80 and supply ratio for property e g

ratio is higher for units worth a t below Rs 30 lakh per unit across n

e 60 above Rs 60 lakh. This is because c r the city. The supply fell short by e p properties at cheaper rates are n i

40 33 s rarely available in Mumbai today. e r 20 u 18

g 18 i 20 14 Budget wise Analysis -

Maximum supply was observed F 11 4 for high-end properties worth <1 1 0 70 Demand% <30 30-60 60-100 100-200 200 & above Rs 1 crore. A higher demand Supply% above ) 60 % as compared to supply was ( Figures in lakh e 48 g 50 a recorded for units in the Rs 30-60 t n

e 38

c 40 lakh bracket in Navi Mumbai and r 31 e p

Budget wise Analysis - Western Suburbs

n 30 25 Thane. In Central and South i

s e r 20 15 u 13 10 14 70 Demand% g i Budget wise Analysis - City Level Supply% F 10 5 ) 60 3 %

New (

e 0

70 g 50 <30 30-60 60-100 100-200 200 & a t

n above

Demand% e )

60 c 40 r % 30 ( Supply% e 29 Figures in lakh e p

g 25 50 n 30 a i 24 t 22 s n 19 e e

r 17 c 40 20 16 r 32 u 12 e g Budget wise Analysis - Thane i p

F

n 30 25 25 10 5 i 22 22 20 s

e 17 r 20 16 0 70 Demand% u 12

g <30 30-60 60-100 100-200 200 & i Supply% F 10 7 above ) 60 % (

e 47 0 Figures in lakh g 50 a <30 30-60 60-100 100-200 200 & t n e

above c 40 35 r 30 33 e p Figures in lakh Budget wise Analysis - Harbour Line n 30 i

s

e 17 r 20 16 70 u 11

Demand% g i Budget wise Analysis - Supply% F 10 5 ) 60 2 3 % (

e 0 100 94 g 50 43 a 42 <30 30-60 60-100 100-200 200 & t

n above

Demand% e )

c 40 r %

Supply% e ( 80 Figures in lakh

p 28 e

g n 30 24 i a

21 t s n

e 17 e 60 r

c 20 u r 11 11

43 g e i p F 10 large margins in all areas, n 3

i 1

40 s especially in Harbour line, South e

r 0 u

g <30 30-60 60-100 100-200 200 & i 20 14 17 and Central Mumbai. F 13 13 5 above <1 <1 1 0 Figures in lakh <30 30-60 60-100 100-200 200 & Property Type Analysis above Mumbai, the maximum demand Figures in lakh The residential demand in was witnessed for units in the Mumbai is largely being met range of above Rs 2 crore. The currently, as revealed by the data Budget wise Analysis - Central Line supply in these two areas on MagicBricks.com. The outstripped demand by 48 and 51 70 Demand% maximum buyer interest was Supply% per cent respectively. ) 60 recorded for multi-storey % ( e

g 50 44 Uniform demand was observed for apartments followed by a t n

e residential houses. Supply

c 40 property in the Rs 30 lakh-1 crore r e p 30 26 25 bracket. However, there was matched demand in both the n 24

i 23

s

e 18 negligible supply of these units in cases. Limited demand was r 20 16 u 10 10 g i Central and South Mumbai. observed for plots and builder F 10 5 Supply fell short by more than 12 floor units. High demand was 0 <30 30-60 60-100 100-200 200 & per cent in both categories in witnessed for multistorey above South Mumbai, while Central apartments across the city with Figures in lakh VOL2, ISSUE 1; APR-JUN, FY 2012-13 27 MUMBAI

Central Line, Harbour Line, South Property wise Analysis - Western Suburb Property wise Analysis - Thane Mumbai and Thane recording 100 100 over supply. The largest demand Demand% Demand% 85 82 81 for residential houses came from Supply% Supply% ) 80 ) 80 78 % %

Thane — from localities like Mira ( ( e e g g a a Road, , Vasai and Virar, t t n n

e 60 e 60 c c r r e e p p

n n

Property wise Analysis - City Level i i

s 40 s 40 e e r r

100 New u u g g i i 19

84 F F 83 Demand% 20 18 20 17

) 12

% Supply% ( 80 1 <1 2

e 1 g a

t 0 0

n Multistorey Residential Residential Multistorey Residential Residential e c

r 60 House Plot House Plot e p

n i

s

e 40 r where demand outstripped supply

u BHK Configuration Analysis g i

F by 2 per cent. Areas such as Property prices in Mumbai has 20 15 16 and Lower in 2 <1 southern parts of the city also risen in the recent past making it 0 unaffordable for many. In Multistorey Residential Residential House Plot Property wise Analysis - Harbour Line addition, a sluggish market with a high rate of interest on home 100 94 Property wise Analysis - South Mumbai Demand% loans has forced buyers to put 81 Supply% 100 ) their money in smaller

91 % 80 84 Demand% ( e apartments. g

Supply% a t ) 80 n e %

( 60 c r e This trend is clearly visible from e g p a

t n n i the data available on

e 60 s

c 40 r e r e MagicBricks.com. Maximum u p

g i n i F 40 demand is for 1BHK units followed s 20 e

r 14 u

g by 2 BHK at the city level. This i 3 3 1 F 20 15 9 0 has forced builders to take serious 1 <1 Multistorey Residential Residential House Plot notice in planning small-sized 0 Multistorey Residential Residential residential units, rather than House Plot exhibited healthy demand for going for luxurious apartments. these units. Supply was found to However, the supply for 1BHK Property wise Analysis - Central Line be short by 6 and 11 per cent in units still remained low by 20 per 100 92 South Mumbai and Harbour Line cent while the demand for 2BHK 87 Demand% respectively. On the other hand, a Supply% units was adequately met. Excess ) 80 slight excess supply was noted for

% supply was observed for larger ( e g

a units of 3 and 4BHK. Demand for t n

e 60

c Property wise Analysis - Navi Mumbai 1BHK units was recorded across r e p various zones in the city. Areas in n

i 100 40 s Demand% e 84

r South Mumbai and Thane u Supply% g i ) 77 F 80 generated high buyer interest for % 20 11 ( 8 e g these units, especially in localities a 1 <1 t n

e 60 like Colaba, Lower Parel, Virar,

0 c r

Multistorey Residential Residential e p House Plot Vasai, Mira Road, Mira n i

s 40 e r u g i

Property wise Analysis - Central Mumbai F 17 BHK Configuration - City Level 20 14 100 2 1 4 BHK 1 New 87 Demand% 86 0 5 Supply% Multistorey Residential Residential Demand% ) Supply% % 80 House Plot ( e

g 12 a

t 3 BHK

n 25 e 60 c r

e individual houses in Central and p

n i

Navi Mumbai.

s 40 39 e r 2 BHK 43 u g i

F The demand for plots was found to 20 12 15 be limited across various zones 48 1 <1 in Mumbai. 27 0 1 BHK Multistorey Residential Residential 0 10 20 30 40 50 60 70 House Plot Figures in percentage (%) MUMBAI 28 VOL2, ISSUE 1; APR-JUN, FY 2012-13

Bhayander Road, Kalyan, and BHK Configuration - South Mumbai BHK Configuration - Western Suburbs others. A healthy demand and 4 BHK <1 4 BHK 2 supply ratio was observed for 10 Demand% 5 Demand% Supply% Supply% 2BHK units throughout the city. Supply for 2BHK units overshot 3 BHK 14 3 BHK 12 37 24 demand in Thane and Navi Mumbai. Godbander Road and 35 38 2 BHK 2 BHK Vasant Vihar in Thane, and 38 41 Kharghar and Kamothe in Navi Mumbai saw a surge in supply. 51 48 1 BHK 15 1 BHK 30 0 10 20 30 40 50 60 70 0 10 20 30 40 50 60 70 The supply of 3BHK apartments outstripped the existing demand Figures in percentage (%) Figures in percentage (%) across the city. Maximum disparity between demand and BHK Configuration - Central Line BHK Configuration - Harbour Line supply was observed in the 4 BHK 4 BHK 1 2 Harbour Line and South Mumbai 5 Demand% 13 Demand% Supply% Supply% with excess supply of 24 and

3 BHK 13 3 BHK 12 23 per cent respectively. The 33 36 demand for bigger-sized apartments remained limited even 41 41 though the supply was found to be 2 BHK 45 2 BHK 35 slightly higher across Mumbai.

45 45 This supply largely came from 1 BHK 17 1 BHK 16 Harbour Line, South Mumbai 0 10 20 30 40 50 60 70 0 10 20 30 40 50 60 70 and Central Mumbai. Figures in percentage (%) Figures in percentage (%)

BHK Configuration - Central Mumbai BHK Configuration - Navi Mumbai BHK Configuration - Thane

4 BHK 1 4 BHK 1 4 BHK <1 9 Demand% 2 Demand% 1 Demand% Supply% Supply% Supply%

3 BHK 16 3 BHK 11 3 BHK 7 32 16 17

39 43 37 2 BHK 38 2 BHK 51 2 BHK 47

44 46 56 1 BHK 21 1 BHK 30 1 BHK 35 0 10 20 30 40 50 60 70 0 10 20 30 40 50 60 70 0 10 20 30 40 50 60 70 Figures in percentage (%) Figures in percentage (%) Figures in percentage (%) annexuRes VOL2, ISSUE 1; APR-JUN, FY 2012-13 69 MUMBAI

CAPITAL VALUES – LOCALITY WISE MUMBAI Average Residential Apartment Prices

Locality Capital Values Locality Capital Values (Rs/Sq feet) (Rs/Sq feet)

Airoli 6800 to 8000 Koper Khairane 7150 to 8750 Andheri East 12100 to 15100 Lower Parel 29600 to 37700 Andheri West 15550 to 19850 Mahalakshmi 32050 to 41700 2700 to 3300 Majiwade 8850 to 10650 Bandra East 18200 to 23500 Malad East 10150 to 12750 Bandra West 30550 to 40200 Malad West 11850 to 14650 Belapur 6950 to 8750 Manpada 7600 to 9250 Bhandup West 10100 to 11950 Mira Road 5200 to 6150 East 5250 to 6250 Mulund East 10400 to 12900 Borivali East 9650 to 12000 Mulund West 10300 to 13050 Borivali West 10750 to 13250 Nallasopara 3400 to 4200 Breach 54900 to 69900 Nepeansea Road 53750 to 70750 CBD Belapur 7500 to 9100 7800 to 9900 11800 to 13850 Palm Beach 10400 to 13050 12750 to 15300 3900 to 4800 East 30900 to 41750 Parel 31100 to 40150 Dadar West 26550 to 33100 Pokhran Road 7800 to 9600 East 7400 to 9850 Powai 12000 to 14750 Dahisar West 9650 to 11800 31050 to 40300 3600 to 4700 Sanpada 8700 to 10750 Ghansoli 6650 to 7950 Santacruz East 15050 to 18150 Ghatkopar East 11100 to 14600 Santacruz West 23850 to 29700 Ghatkopar West 11400 to 13700 Seawoods 7200 to 8950 Godhbunder Road 6300 to 7600 21850 to 28900 Goregaon East 11050 to 14050 Sion 17250 to 22450 Goregaon West 11450 to 14450 3950 to 4600 West 9600 to 12650 Ulwe Village 4000 to 4600 Juhu 24600 to 30850 Vasai 3750 to 4550 Kalyan 3900 to 4850 Vasant Vihar 8850 to 10300 Kamothe 4600 to 5250 8250 to 10800 Kandivali East 10800 to 13450 East 18750 to 23500 Kandivali West 10250 to 12550 Vile Parle West 20000 to 24800 Kasarvadavali 5800 to 7150 Virar 3900 to 4650 Khar West 26650 to 35000 15800 to 19150 Kharghar 5350 to 6700 31950 to 43200

VOL2, ISSUE 1; APR-JUN, FY 2012-13

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