Hyderabad City Round-Up Q1 2021
Total Page:16
File Type:pdf, Size:1020Kb
January to March 2021 HYDERABAD ROUND TABLE RESIDENTIAL MARKET ACTIVITY About Elara Group India’s full stack real estate technology platform Business Model / Brand Market segment Description Monetization Core Offering Customers Fastest-growing online • Traditional classifieds - • Advertising and listings • Agents Indian real estate portal. listing and advertising fee solutions • Developers Premium online Seeking to be market leader • Full stack platform for • 3D visualisation products • Home-owners property classifieds for consumers / partners in rentals by co-opting • Full-stack rental services • Co-living portal their journey of renting, intermediaries (to be • Lead gen services for operators buying, selling or financing extended to resale) - share adjacency providers • Mortgage property of transaction fee financiers Indian-focused tech-led • Tech-enabled brokerage • Project sales • Developers brokerage firm providing end- with low dependency • Mortgage On-ground property services for to-end assistance to (<20%) on external sources financiers fulfilment / transaction developers consumers in their property for customer acquisition – facilitation for new • End-to-end buying journey. Focuses on brokerage fee homes and rentals transaction services new residential properties. for new home buyers Also offers home loans assistance Property portal that • Traditional classifieds - • Advertising and • Agents connects buyers and sellers listing and advertising fee listings solutions for • Developers Online property and helps them on their • Products sold by Housing developers, brokers, • Home-owners classifieds portal journey of buying, selling, sales team in combination home-owners renting and leasing with Housing products residential properties in India The growth story Acquired Makaan 3DPhy and launched India’s acquisition to only digital real strengthen VR REA PropTiger NewsCorp estate marketplace capabilities becomes an Launched becomes an investor investor 2011 2014 2015 2016 2017 2020 Built 3D Visualization Acquired Housing REA Acquires capabilities through to enter the online controlling OoBI acquisition classifieds space stake in Elara Q1 2021 Despite the looming uncertainty surrounding COVID-19, Q1 2021 saw sentiments improve on the back of vaccination Cautious, yet optimistic growth outlook for FY 22 Agency Annual GDP growth FY 22 International Monetary Fund (IMF) 12.5% Moody’s Analytics 9.3% Asian Development Bank 11.0% Reserve Bank of India (RBI) 10.5% World Bank 10.1% Source: PropTiger Research Characteristics of Q1 2021 VACCINATION GST MANUFACTURING DRIVE COLLECTION & SERVICES PMI Pan India roll-out of COVID-19 With INR 1.24 lakh crore collection, Continued to remain above started in January 2021 hit a record high in March 2021 the 50 mark RECOVERY STAMP DUTY REPO RATE CUTS RATE At 4.0 remained unchanged by the Stamp duty slashed by 2-3% in 82.5% recovery rate; India’s daily Central Bank states of Maharashtra and recovery outnumbered cases Karnataka Source: PropTiger Research, RBI, Industry sources COVID–19 acts as dampener - arrests recovery in Q1 2021 ALL INDIA TRENDS - CITYWISE 17% 28% 18% 21% 18,570 18,570 17% 7% 10% 11% 11% 7% 9% 9% 14% 12% 4% 5% 13,730 13,730 9,750 9,750 9,060 9,060 8,770 8,770 7,720 7,720 7,600 7,600 7,430 7,430 6,200 6,200 5,560 5,560 5,520 5,520 4,780 4,780 4,690 4,690 4,460 4,460 3,380 2,000 Ahmedabad Bengaluru Chennai Delhi NCR Hyderabad Kolkata Mumbai Pune New Supply Sales 53,040 66,180 Source: DataLabs, PropTiger Research *Units converted to nearest thousands Q1 2021 HYDERABAD Residential Market Activity ONLINE NEW SALES UNSOLD PRICE BUYING & RENTING SUPPLY INVENTORY TREND Q1 2021 Online Buying & Renting Trends Hyderabad Residential Market Activity Home Buying Kondapur and Miyapur in west MOST SEARCHED LOCALITIES FOR BUYING A HOME most searched for buying a home - Q1 2021 online MIYAPUR BACHUPALLY NIZAMPET KOMPALLY KUKATPALLY • Configuration - Virtual homebuyers SERILINGAMPALLY KONDAPUR preferred units with 1BHK configuration, GACHIBOWLI followed by 2BHK MANIKONDA BANDLAGUDA • Price - Kondapur, Miyapur and Kompally saw maximum demand in the price bracket of INR 50 lakh – 1 crore, while units priced below INR 50 lakh saw maximum traction in Kukatpally and Nizampet LEGEND Top localities* *Top localities are determined based on aggregate virtual or online demand through organic traffic and leads data for that locality. **Upcoming localities are determined as per the online expression of interest and nearing of volume of organic traffic and leads to the benchmarked top localities. Localities gaining traction** Source: Housing Research Renting Localities in west most searched MOST SEARCHED LOCALITIES FOR RENTING A by online renters HOME - Q1 2021 MIYAPUR KUKATPALLY • Configuration - Demand was high for KONDAPUR BEGUMPET renting units with 2BHK configuration GACHIBOWLI AMEERPET followed by 1BHK BANJARA HILLS MANIKONDA JUBILEE HILLS • Price - Home renters preferred units MADHAPUR with rent below INR 15 thousand LEGEND Top localities* *Top localities are determined based on aggregate virtual or online demand through organic traffic and leads data for that locality. **Upcoming localities are determined as per the online expression of interest and nearing of volume of organic traffic and leads to the benchmarked top localities. Localities gaining traction** Source: Housing Research Q1 2021 SALES Hyderabad Residential Market Activity Sales surpassed the pre-COVID levels SALES TREND YoY 39% 9,180 Number of units Number 8,120 7,720 7,720 7,660 6,490 5,720 5,550 3,260 1,100 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Source: DataLabs, PropTiger Research *Units converted to nearest thousands Sangareddy was the most preferred locality, closely followed by Kondapur SANGAREDDY BACHUPALLY INR 5,000–5,200/sq ft INR 4,300–4,500/sq ft KOMPALLY • Sangareddy, Kondapur, Bachupally, INR 4,400–4,600/sq ft Nallagandla and Kompally comprise a KONDAPUR 30% share from overall sales INR 7,000–7,200/sq ft NALLAGANDLA INR 6,300–6,500/sq ft TOP LOCALITIES FOR BUYING AS PER DEMAND IN Q1 2021 Source: DataLabs, PropTiger Research * All prices are Weighted Average Price is for new supply Increased demand for 2BHK over year ago CONFIGURATION SPLIT OF SALES Q1 2020 Vs Q1 2021 1BHK 1BHK 4+ BHK 4+ BHK 1% 8% 1% 7% 34% 2BHK 2BHK 44% Q1 2020 Q1 2021 3BHK 3BHK 48% 57% Total Sales Q1 2020 Q1 2021 5,550 7,720 Source: DataLabs, PropTiger Research *Units converted to nearest thousands > INR 75 lakh price bracket witness maximum traction INR 1-3 crore ~ 90% share TICKET WISE SPLIT OF SALES 54% Q1 2020 Vs Q1 2021 39% 37% 31% 31% 17% 16% 14% 13% 1% 1% < INR 25 lakh INR 25-45 lakh INR 45-75 lakh INR 75 lakh-1 > INR 1 crore crore Total Sales > INR 1 CRORE Q1 2020 Q1 2021 Source: DataLabs, PropTiger Research *Units converted to nearest thousands 5,550 7,720 Demand for units priced >INR 1 crore on the rise Maximum traction witnessed in SHARE OF SOLD UNITS ACROSS PRICE BRACKETS INR 1-3 crore (~ 90%) price bracket 50% > INR 1 CRORE 40% CAGR 10% 30% INR 45-75 LAKH CAGR 6% 20% INR 75 LAKH – 1 CRORE CAGR 20% INR 25-45 LAKH 10% CAGR 22% Percentage share from total sales total from share Percentage < INR 25 LAKH 0% CAGR 36% 2016 2017 2018 2019 2020 Source: DataLabs, PropTiger Research *CAGR for time period of 2016-2020 TOP LOCALITIES SEEING TRACTION IN > INR 1 CRORE PRICE BRACKET IN Q1 2021 Kondapur sees maximum KONDAPUR traction in INR 1-3 crore MANIKONDA price bracket; NARSINGI followed by Nallagandla and Kokapet KOKAPET NALLAGANDLA Source: DataLabs, PropTiger Research * All prices are Weighted Average Price is for new supply Q1 2021 NEW SUPPLY Hyderabad Residential Market Activity New supply doubled over Q1 2020 NEW SUPPLY YoY 95% 12,720 8,920 7,600 7,600 Number of units Number 5,320 4,260 4,080 3,900 2,410 2,050 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Source: DataLabs, PropTiger Research *Units converted to nearest thousands Half of the new supply is concentrated in >INR 75 lakh price bracket 49% TICKET WISE SPLIT OF NEW SUPPLY Q1 2020 Vs Q1 2021 41% 40% 36% 36% 21% 13% 11% 2% 0% 0% < INR 25 lakh INR 25-45 lakh INR 45-75 lakh INR 75 lakh-1 > INR 1 crore crore Total Supply Q1 2020 Q1 2021 3,900 7,600 Source: DataLabs, PropTiger Research *Units converted to nearest thousands 2BHK increases its share in new supply CONFIGURATION SPLIT OF NEW SUPPLY Q1 2020 Vs Q1 2021 4+BHK 4+BHK 4% 9% 28% 2BHK 2BHK Q1 2020 Q1 2021 48% 3BHK 3BHK 48% 63% Total Supply Q1 2020 Q1 2021 3,900 7,600 Source: DataLabs, PropTiger Research *Units converted to nearest thousands Q1 2021 Unsold Inventory & Price Trends Hyderabad Residential Market Activity 59% of the total stock is concentrated in localities of Western Hyderabad BACHUPALLY KOMPALLY Total Stock NALLAGANDLA 2,80,510 KONDAPUR KOKAPET Unsold Stock Sold Stock 39,190 2,41,320 Ready to move-in Under-Construction 3,920 35,270 TOP LOCALITIES AS PER UNSOLD INVENTORY IN Q1 2021 (10%) (90%) Source: DataLabs, PropTiger Research *Units converted to nearest thousands Total stock calculated on units launched since ~1990 Surge in new supply increases unsold inventory levels; Inventory overhang remains lowest amongst top 8 cities UNSOLD INVENTORY TICKET WISE SPLIT OF UNSOLD INVENTORY Q1 2021 YoY 26% 21% 25 lakh – 36% 45 lakh 29 > 1 crore 25 25 19 14 26% 45 lakh – Months 75 lakh 17% Number Number of units 33,070 32,070 39,310 39,190 31,120 75 lakh – 1 crore Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 53% unsold inventory concentrated in >INR 75 lakh price bracket Source: DataLabs, PropTiger Research *Units converted to