FOREWORD

It’s a new calendar year and Magicbricks wishes all its readers a Very Happy 2015. It’s been a year where subdued sentiments in the property markets gave rise to euphoria over Prime Minister Modi’s conclusive win in the General Elections and then settled into a subdued mode again.

In its 15th edition, PropIndex reflected the reality of the real estate market in which clearly gave a green signal for affordability and value for money. This was in line with the government’s agenda of promoting ‘Housing for All by 2022’.

City indices remained fairly stable. Riding high on the ‘Modi’ factor recorded the highest rise of 3 per cent in the City Index values. The Delhi City Index continued to drop (1%) indicating slow uptake in the market.

At the macro level, properties in the affordable or mid-segment ranges were clearly a popular choice. The budget range of Rs 20-40 lakh saw a rise across cities except in Delhi, Gurgaon and Kolkata. In line with this trend, the 1BHK category saw a rise in demand across all cities. Delhi and Gurgaon saw a rise in demand for 2BHK units as well. As the capital markets regained momentum post the formation of the new government at the Centre, rental markets were subdued in the Oct-Dec 2014 quarter. Almost 40-50 per cent of the tracked localities in each city recorded a drop in values.

After a dull year, 2015 is expected to bring with it new and positive changes in the sector. The year is going to be crucial as this is the time when the Government’s promises would actually be put into practice.

Do write in at [email protected] and share yours views on this report and how we could make PropIndex even better. You may also share your opinion with #PropIndex on our Twitter handle @magicbricks or connect with us on Facebook at www.facebook.com/magicbricksTOI.

Sudhir Pai Business Head, Magicbricks.com METHODOLOGY

Magicbricks PropIndex are aggregated into their been chosen based on respective cities and their activity levels) and Magicbricks PropIndex then to the National has an individual city is a tool which Index. Weightages for report for each of these empowers property PropIndex are based on cities. While the NPI and seekers and investors the supply of properties its movements are of with detailed within the locality/city. interest to the expert information on the Based on this structure, community of bankers, movement of residential PropIndex gives a builders and investors, apartment prices and realistic picture of the PropIndex has also supply of properties in trends in price/supply taken care to explain the India. No credible across different property nuances of index property index can be a markets in each city. We movements at the function of direct values have used different locality level that would as the changes are weightages for Listed help the huge base of governed by multiple Price Monitor/Rent Magicbricks.com factors. Monitor. Therefore, read consumers. as a whole, PropIndex Magicbricks PropIndex Insights into consumer along with tables has taken this reality demand have been provided for Listed Price into account and gathered through Monitor, Rent Monitor, produced an index based analysis of search Yield Monitor and on listing of apartments information on the site. Capital Values, gives an and their capital and This helps understand excellent perspective of rental values on the the best localities by the property market website. demand, the type and performance in the configuration of units as Magicbricks has over quarter. 700,000 active properties well as the budget-wise posted by more than While listing and its preferences. values/supply provide a 1,40,000 active users in The PropIndex is the level of understanding 300 cities and 10,000 result of meticulous of the market, there are localities. Our users research at the locality meticulous data checks include owners, agents level and through to prevent aberrations and developers. detailed discussions creeping in the Index. with experts at These are based on Magicbricks.com’s Methodology statistical calculations, offline and online industry inputs and Apartment values are initiatives. based on listings on logical interpretations. The Indian real estate Magicbricks. These The National Property market is dynamic and include multi-storey Index (NPI) is indicative the PropIndex reflects apartments and single of the extent of activity those changes. Since it is units on plotted as well as price derived from a dynamic developments, referred movements across cities database, additions and to as builder floors on and localities in the deletions of localities Magicbricks.com. major cities active on happen as a function of Magicbricks.com. The The Index is structured market dynamics. in such a way that index includes the top individual properties 11 cities (these have 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 Oct-Dec 2014 quarter from different perspectives – from that of capital appreciation, from a rental/yield realisation perspective and from a supply standpoint. Demand Analysis section also explains what consumers look for.

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 the 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 – This metric shows the capital appreciation/drop within a locality and 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/drop. 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/drop. However, in a few select 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. This section also provides a comparison between demand and supply in the Jul-Sep and Oct-Dec 2014 quarters.

7. Editorial Speak – PropIndex has gone from strength to strength – adding more analytics, insights and diverse views in every edition. To enhance the insights provided by our data PropIndex now includes city perspectives from editors of Times Property. NOTES VOL 4, ISSUE 3; OCT-DEC, FY 2014-15 propindex.magicbricks.com

NATIONAL PROPERTY INDEX (NPI) OCT-DEC 2014

n Small size units recorded a rise in demand by 1-4 per cent, across India

n Properties worth Rs 20-50 lakh went up by 3 per cent

n NCR witnessed a Source:Magicbricks.com drop in supply of OCT-DEC 2014 segment (Rs 1 crore and Above) premium noted a drop of 1-2 per cent. properties by 3-10 In the Oct-Dec 2014 quarter, the National Property Index (NPI) Overall, active supply remained per cent except rose by 1 per cent over the passive and recorded a nominal Ghaziabad, previous quarter. Out of the drop of 2 per cent. Cities such as which remained 11 cities tracked in India, seven Mumbai, Kolkata and Gurgaon stable posted a rise of 1-3 per cent in the recorded the maximum drop in City Index value. This kept the active supply. Demand for NPI positive. No reduction in home loan rates n by RBI and drop in property buyer apartments Ahmedabad posted the maximum dropped by 1-6 rise of 3 per cent in the City sentiments in the last few months Index, followed by Kolkata, kept property buyers at a wait- per cent across Chennai and Hyderabad which and-watch mode. This pulled all cities, except recorded a rise of 2 per cent. down the new launches rate in Chennai Bengaluru, Pune and Noida noted across India. merely 1 per cent rise. However, However, inspite of slow growth Gurgaon and Ghaziabad remained in the real estate market and drop relaxation of FDI rules in the unchanged. Delhi and Mumbai, in the number of new launches construction sector, by reduction the major metropolitan cities, saw across India, the market in the minimum floor area for a drop in the City Index value by continued to witness healthy development and capital 1 per cent. demand for properties in the requirement, are expected to affordable range. further attract more funds to the The National Consumer Budget real estate sector. preference graph shows that Significant demand for properties demand for properties in the in the affordable range gave IN THIS REPORT: range of Rs 20-50 lakh remained impetus to the public and private strong and increased by 3 per cent sector to offer new properties in National Property Index...... 1 in the last six months. On the low budget ranges with basic Ahmedabad...... 4 other hand, properties in the mid facilities. The Modi Government’s (Rs 70-100 lakh) to premium Annexures...... 8 propindex.magicbricks.com 02 VOL4, ISSUE 3; OCT-DEC, FY 2014-15

The Ghaziabad City Index City Index Percentage Change remained unchanged in the Oct-Dec 2014 quarter. Oct-Dec 2014 Almost equal number of localities recorded a rise or drop in the average capital values. This kept 3% the Listed Price Monitor unchanged at 0 per cent. Similar i

2i % d , a 1% a trend was noted in the rental i a b n h

l market with increase and drop of b n d m e a e 0% a e u , 10 per cent in lease. d D h b n u d , e M r a u C a r n

u

, In the past one year, Gurgaon m l P b e o

a h a , a d a t

i City Index remained between g a y A g a z r n d

k minus 2 to plus 1 per cent. This H a i l u e h -1% o o was mainly due to slow uptake in B G N G K the residential market of the city. Source:Magicbricks.com Out of the total localities tracked, 39 per cent noted a drop in the Sarjapur Road and Electronic City NATIONAL PROPERTY INDEX average capital values. This also remained the most preferred kept the City Index unchanged in In the last one year, properties investment destinations across l the Oct-Dec 2014 quarter. The worth Rs 30-50 lakh continued residential housing categories. rental market too, remained slow to witness maximum demand The Yield Meter showed that with a consistent rise quarter- returns were high on residential Preferred Cities - Sale over-quarter, indicating strong investment in South and East demand for affordable options Bengaluru, followed by North Locality Rank across India Bengaluru. Q3 Q2 Mumbai 1 1 l Rental returns remained high Increase in average capital values in residential properties in coupled with rise in active Bengaluru 2 2 Bengaluru, Hyderabad and property listings in the city by Pune 3 3 Kolkata 5 per cent, pushed up the Chennai Hyderabad 4 5 City Index by 2 per cent. The In the last six months, Mumbai, New Delhi 5 4 l rental market witnessed slow Bengaluru and Pune continued movement in the average monthly Chennai 6 7 to be the most preferred rentals. Close to 55 per cent of the Kolkata 7 6 investment destinations total localities tracked in the city Gurgaon 8 8 Ahmedabad City Index rose by noted a drop between 1-8 per cent. Noida 9 10 3 per cent. After the formation of In the last one year, average Ahmedabad 10 - the Modi Government at the capital values showed a healthy centre, the City Index continued rise of over 10 per cent in areas Note: Q3 Oct-Dec 2014, Q2 Jul-Sep 2014 to show a rise in values quarter- such as Oragadam, Anna Nagar Source:Magicbricks.com West, Nungambakkam and over-quarter. In the Oct-Dec 2014 Preferred Cities - Rent quarter, the city recorded a rise of Prerungudi. 1-9 per cent in average capital cality Rank The Delhi City Index continued to Lo values in over 75 per cent of the Q3 Q2 drop in the Oct-Dec 2014 quarter. total localities tracked. The city A drop of 1 per cent was noted as Bengaluru 1 2 also witnessed a rise in supply by opposed to the 3 per cent fall noted Mumbai 2 1 5 per cent in comparison to the in the previous quarter. In the last previous quarter. SG Highway, Pune 3 3 three quarters, Delhi City Index Bopal and witnessed New Delhi 4 4 has dropped by 9 per cent. This maximum supply of new projects. Chennai 5 5 was primarily on the back of the The Bengaluru City Index drop in average values and Hyderabad 6 6 showed an inverse trend in growing inventory in the city, Gurgaon 7 7 comparison to the last quarter, by mainly in the single floor units. In Kolkata 8 8 posting a rise of 1 per cent. This the rental market, close to Noida 9 10 kept the city index unchanged in 50 per cent of the total localities Ahmedabad 10 - the last six months. Whitefield, tracked in the city, recorded a drop of 1-10 per cent. Note: Q3 Oct-Dec 2014, Q2 Jul-Sep 2014 Source:Magicbricks.com VOL4, ISSUE 3; OCT-DEC, FY 2014-15 03 propindex.magicbricks.com

National - Consumer Budget Preference

30% 29% 25% 21% 20% 15% 15%

10% 14% 9% 9% 5%

0% 3% Upto Rs 20 Lakh Rs 20-30 Lakh Rs 30-50 Lakh Rs 50-70 Lakh Rs 70-100 Lakh Rs 1-2 Crore Rs 2 Crore & Above Source:Magicbricks.com with over 60 per cent localities Noida market remained stable TOP YIELD GROSSERS recording either a drop or no with 0-1 per cent change in the change in the average rental City Index and the Listed Price Gross yield is a ratio of average annual values. monitor. This was primarily on the rental value to the average capital value back of almost no change in the of the property. Given below are the top yield-grossing localities in each city. Hyderabad City Index and the average capital values in the city. Listed Price Monitor recorded a On the other hand, rental market Locality Gross Yield rise of 2 and 3 per cent, noted a subdued trend. Over Bengaluru, Chandapura 5.42% respectively. The increase in the 65 per cent of the total localities in City Index value was primarily the city noted a drop in rental Kolkata, Tollygunge 4.76% attributed to increase in the values between 1-7 per cent in the Hyderabad, Gachibowli 4.66% average capital values in areas current quarter. Chennai, Navalur 4.27% with maximum active properties. Pune, Mundhwa 4.04% Unlike the capital market, the The Mumbai City Index dropped Ahmedabad, Prahlad Nagar Extn 4.01% rental market remained slow. Over by 1 per cent in the Oct-Dec 2014 55 per cent localities in the city quarter as opposed to the previous Delhi, Govindpuri 3.99% recorded a drop between quarter where it increased by Ghaziabad, Shakti Khand 3 3.62% 2-8 per cent in the average rental 4 per cent. Rise in the average Mumbai, Kanjur Marg East 3.54% values. Gachibowli, Kondapur, capital values between 0-7 per cent Noida, Sector-121 3.16% Kukatpally and Hitec City and drop in supply by 6 per cent Gurgaon, Sector-69 2.59% remained the preferred locations kept the City Index positive by just S o u r for both sale as well as rent in the 1 per cent. With one fourth of total c e : M

current quarter. supply of the city, Kharghar in a

CAPITAL GAINS g i c

Navi Mumbai, Mira Road, Andheri b r i c

Kolkata City Index rose by The table given below indicates maximum k West and Kandivalli West in the s . c

2 per cent. This was primarily o Western Suburbs and Ghodbunder increase in capital values in each city. m attributed to rise in the average Road in Thane were the most Locality % Change capital values in over 60 per cent of active residential destination in the tracked localities in the city. the city. Kolkata, Ballygunge 9.65% The 1 and 4BHK units witnessed a Bengaluru, Hennur Main Road 10.75% rise in demand while other Pune residential market categories noted a drop. Maximum witnessed a consistent rise of Ahmedabad, 9.03% rise was recorded in 1BHK units 1 per cent in the City Index value Ghaziabad, Govindpuram 6.80% across the region in the last six quarter-over-quarter, in the past Chennai, Adyar 6.70% months. Properties worth Upto one year. Over 45 per cent of the Mumbai, Vashi 6.65% Rs 20 lakh witnessed an increase total demand for properties in the in demand by 1-6 per cent across city was concentrated in West Pune, Mundhwa 8.91% the region, except in West Kolkata. Pune, followed by 29 per cent in Hyderabad, Attapur 5.69% East Pune. Though high demand Delhi, Model Town 6.16% The Noida City Index rose by was noted in West Pune, but 1 per cent in the Oct-Dec 2014 maximum supply was recorded in Noida, Sector-143 B 5.34% quarter. In the last 15 months, East Pune. Gurgaon, Sector-84 8.02% AHMEDABAD propindex.magicbricks.com 04 VOL4, ISSUE 3; OCT-DEC, FY 2014-15

PROPINDEX - AHMEDABAD Editorial Ahmedabad, a promising destination for investors The real estate markets of , most notably Ahmedabad, have set an example of rapid real estate and infrastructure development in the past decade. From the coming up of residential projects in the new areas to building and planning of infrastructure, such as new flyovers and Metro network, the city has been one of the most promising cities of Gujarat. Today, many developers consider it as Source:Magicbricks.com an alternative to any other metro city. The Ahmedabad City Index rose by 3 per cent in the Oct-Dec As per the Housing Sentiment Index, 2014 quarter as compared to the 1 per cent rise it saw in the issued by Magicbricks in association with IIM Bangalore, buyer sentiments previous quarter. After increasing by 2 per cent in Jul-Sep 2014 in Ahmedabad were positive in the quarter, the Listed Price Monitor rose by 3 per cent in the Jul-Sep 2014 quarter. Looking at the present quarter. affordable property prices compared to the other metropolitan cities, investors from all over India are also eyeing it. Key Takeaways The government of Gujarat is bringing several measures for the overall l The city witnessed a rise of other residential property types development of the city. At a recent 1-9 per cent in the average witnessed a rise of 1-3 per cent event, Municipalika held in October 2014 in Gandhinagar, Anandiben capital values in over 75 per cent Patel, Chief Minister of Gujarat of the total localities tracked. l With regard to supply, apartments witnessed a drop in mentioned several efforts, such as Coupled with 5 per cent increase Mahatma Gandhi Swachhta Mission the last six months from in supply in the Oct-Dec 2014 to make zero waste city, programme quarter as compared to the 80 to 72 per cent whereas, other to provide complete sanitation facility previous quarter, pushed the residential categories witnessed under Nirmal Gujarat and the plans to City Index and Listed Price a rise of 1-11 per cent provide affordable housing for people along with basic amenities from Monitor up by 3 per cent each l Unlike the capital market, over people from Economically Weaker In the last six months, the city 55 per cent localities in the city Section (EWS) under Mukhyamantri l Gruh Yojna. recorded a consistent rise in noted a drop of 2-8 per cent in demand for 1BHK units by the average rental values The government is also considering 3 per cent, quarter-over-quarter. The city continues to offer Local Area Plan (LAP) concept for l customised planning of the city and However, supply dropped by healthy rental returns with over 2 per cent raise funds from chargeable Floor 90 per cent of tracked localities Space Index (FSI) along the long in the city offering a gross yield Transit-Oriented Zone (TOZ), R1 and l A similar trend was noted for affordable properties worth upto of 2.5-4.0 per cent R2 residential zones and others to use the funds for the development of local Rs 40 lakh, where demand rose l SG Highway, Bopal and Motera infrastructure that includes roads, by 4 per cent while, supply witnessed maximum supply of drainage and water supply. dropped by 6 per cent new projects in the city, while The metro rail network has also been apartments noted the maximum l Satellite, Bopal and Gota offered approved in Ahmedabad. The Union maximum number of options supply followed by plots Cabinet granted Rs 10,773 crore for for properties upto Rs 40 lakh phase one, covering 35.96 km. Metro l Supply of premium properties will make way for further development worth Rs 1 crore and Above l In the last six months the city of the city in addition to the already witnessed a shift in demand continued to outstrip demand by successful Bus Rapid Transit System. Looking at the development measures from apartments to other over 15 per cent. planned and executed in Ahmedabad, categories such as residential l Satellite and Bopal were the the city’s real estate market is evolving houses and plots. On one hand most prefered investment and looks promising. demand for apartments went destinations for both sale as well Magicbricks Bureau down by 4 per cent, whereas as rent VOL4, ISSUE 3; OCT-DEC, FY 2014-15 05 propindex.magicbricks.com AHMEDABAD

LISTED PRICE MONITOR RENT MONITOR

Source:Magicbricks.com 3% Source:Magicbricks.com Rental values in about 70 per cent of the tracked l About 75 per cent of the tracked localities saw a rise l in capital values in the Oct-Dec 2014 quarter localities either remained stable or registered a drop in the Oct-Dec 2014 quarter l Chandkheda recorded the highest rise of 9 per cent in capital values followed by Vaishnu Devi which l Chandkheda recorded the maximum drop of saw an increase of 7 per cent 8 per cent in the current quarter, while rental values dipped by 6 per cent in Ramdev Nagar l Gurukul, South Bopal, Navrangpura and Prahlad Nagar Extension also recorded a rise of 4-5 per cent l Vastrapur, Motera and Navrangpura registered a in property prices drop of 4 per cent, while in Bopal and Prahlad Nagar saw the maximum rise of 4 per cent. l SP Ring Road registered the maximum drop of l 4 per cent in prices while SG Highway and Motera Other localities that witnessed a rise included recorded a dip of 1 and 2 per cent, respectively SG Highway, Drivein Road, and Vasna Rental values remained stable in Satellite, Bodakdev l Capital values remained stable in Bodakdev and l New CG Road in the current quarter and Gota YIELD METER

Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Motera 5.75 2,915 2.37% Prahlad Nagar 14.50 5,075 3.43% Vastrapur 12.50 4,880 3.07% Bodakdev 13.25 5,495 2.89% Drive-In Road 12.25 5,580 2.63% Vejalpur 10.75 3,295 3.92% Gurukul 12.25 4,675 3.14% Bopal 8.25 3,495 2.83% South Bopal 9.25 3,410 3.26% Prahlad Nagar Extension 12.00 3,590 4.01%

l The Magicbricks Yield Meter ranged from 2.37-4.01 l Other localities which offered healthy returns of per cent in Oct-Dec 2014 quarter, as compared to 3.07-3.92 per cent included Vejalpur, Prahlad Nagar, 2.42-4.29 per cent in the previous quarter South Bopal, Gurukul and Vastrapur

l Prahlad Nagar Extension offered highest rental l Motera recorded the lowest rental yield of 2.37 per returns of 4.01 per cent, similar to the previous cent, as in the previous quarter. Rental returns in quarter. The locality saw a rise in capital values Bodakdev were 2.89 per cent followed by Bopal at while the rental values dipped 2.83 per cent gross yield in the present quarter Source:Magicbricks.com AHMEDABAD propindex.magicbricks.com 06 VOL4, ISSUE 3; OCT-DEC, FY 2014-15

PREFERRED LOCALITIES

SALE RENT

Locality Rank Capital %age Locality Rank Rental %age Q3 Q2 Values change Q3 Q2 Values change Satellite 1 1 4850 to 6130 2% Satellite 1 1 11500 to 15000 0% South Bopal 2 2 3160 to 3850 4% Bopal 2 3 7500 to 10000 -3% Bopal 3 3 3190 to 4050 3% Prahlad Nagar 3 2 13000 to 17000 4% Prahlad Nagar 4 6 4530 to 6060 2% Bodakdev 4 5 12000 to 15000 0% Gota 5 5 2680 to 3110 1% South Bopal 5 4 8500 to 10500 3% SG Highway 6 4 3040 to 3730 -1% Vastrapur 6 6 11500 to 14500 -4% Chandkheda 7 7 2340 to 2890 9% Navrangpura 7 7 12000 to 15500 -4% 8 8 4700 to 6000 3% Thaltej 8 9 10000 to 13500 -2% Science City 9 10 3680 to 4430 -2% SG Highway 9 - 10500 to 14000 2% Bodakdev 10 9 4990 to 6400 0% 10 - 11000 to 14000 0%

Source:Magicbricks.com Note: Q3 Oct-Dec 2014,Q2 Jul-Sep 2014 Source:Magicbricks.com Note: Q3 Oct-Dec 2014,Q2 Jul-Sep 2014 l The top three positions in the list of preferred l Satellite continued to remain the most preferred localities for rent remained unchanged in the locality for rent in the Oct-Dec quarter. Rental Oct-Dec 2014 quarter. Increased preference led to rise values remained stable in the locality in capital values in Satellite, Bopal and South Bopal, where property prices increased by 2-4 per cent l Bopal and Prahlad Nagar interchanged their positions in the present quarter. While Bopal moved l Prahlad Nagar moved two slots up in the current up one position to settle at the second slot, Prahlad quarter to settle at the fourth position. Property Nagar slipped to settle at third prices increased by 2 per cent in the area l Bodakdev inched up one position to settle at fourth l Gota maintained its position at the fifth slot in the slot in the present quarter. South Bopal moved down list of the top ten preferred localities for sale one position to settle at the fifth spot l SG Highway slipped two positions to settle at sixth l Vastrapur and Navrangpura maintained their spot in the present quarter with a drop of 1 per cent position at the sixth and seventh spot respectively in in capital values the current quarter l Chandkheda and Thaltej maintained their position l Thaltej moved up one position in the present at seventh and eight slots respectively quarter, with rental values dropping by 2 per cent l Science City and Bodakdev interchanged their l SG Highway and Paldi were two new entrants in the positions in the present quarter. While Science City list of the top ten preferred localities for rent in the moved up one position to settle at the ninth slot, current quarter. Rental values remained stable in Bodakdev slipped one position to settle at tenth Paldi while Satellite saw a rise of 2 per cent

l Sanand, Bagodara, Dholera Sir, Home in your Budget Narolgam and offer properties worth Upto Upto Rs 20 Lakh Sanand, Bagodara, Dholera Sir, Narolgam, Vastral Rs 20 lakh

l Properties in the most preferred Rs 20-40 Lakh Gota, New CG Road, Chandkheda, Vejalpur, Maninagar budget range of Rs 40-70 lakh were available in South Bopal, Gota, Vaishno Devi and Motera Rs 40-70 Lakh South Bopal, Gota, Vaishno Devi, SP Ring Road, Bopal l Properties worth Rs 1 crore and Above were available in Rs 70-100 Lakh South Bopal, Bopal, Ghuma, Motera, Memnagar localities such as Satellite, Bodakdev, Prahlad Nagar Science City and Drive-In Road Rs 1 Crore & Above Satellite, Thaltej, Bodakdev, Prahlad Nagar, SG Highway Source:Magicbricks.com VOL4, ISSUE 3; OCT-DEC, FY 2014-15 07 propindex.magicbricks.com AHMEDABAD

DEMAND - SUPPLY ANALYSIS Maximum demand was witnessed for the Rs 40-70 lakh category while supply was high for Rs 1 crore and Above category. A shortfall of 11 per cent was witnessed in the supply of Rs 20-40 lakh category. Even though demand for apartments dipped by 4 per cent, the category continued to remain the most preferred in the city. Demand (23%) and supply (21%) was almost corresponding in the current quarter. Demand was high for 2BHK units while the supply was inclined towards 3BHK category during the Oct-Dec 2014 quarter. All configurations registered a mismatch in demand and supply. While larger units were oversupplied, smaller units recorded a shortfall in the present quarter.

Budget wise Analysis - City Level Budget wise Analysis l Properties worth Rs 1 crore and DEMAND SUPPLY Above witnessed an oversupply of (Jul-Sep 2014) (Jul-Sep 2014) 50 50 20 per cent in the Oct-Dec 2014 (Oct-Dec 2014) (Oct-Dec 2014) quarter. The category saw S ) 39 39 ) o

% % 38 u

( 40 ( 40

r 18 per cent demand and 38 per cent e e c

g g 32 e a a : t t M supply. Demand and supply for the n 28 n a e 30 e 30 27 27 g c 25 c r r i c

e e 21 Upto Rs 20 lakh category was low b p p

19 r i n n 18 c i 20 i 20

16 17 k s s 14 14 s

13 . e e c r r l Both Rs 20-40 lakh and Rs 40-70 o u u m g g i 10 i 10

F F 6 lakh categories recorded a 4 1 2 respective shortfall of 11 and 12 per 0 0 <20 20-40 40-70 70-100 100 & <20 20-40 40-70 70-100 100 & cent in their supply. Demand (13%) above above and supply (14%) was almost Figures in Rs lakh Figures in Rs lakh corresponding

Property wise Analysis Property wise Analysis - City Level l A drop of 4 per cent was noted in DEMAND SUPPLY the demand for apartments in the 100 100 Oct-Dec 2014 quarter, while its (Jul-Sep 2014) (Jul-Sep 2014) supply dipped by 3 per cent. The ) (Oct-Dec 2014) ) (Oct-Dec 2014) S % % ( ( 80 80 75 o category saw 67 per cent demand e e

71 u

g g 72 r c

a 67 a t t e and 72 per cent supply n n : M e e c c a r 60 r 60 g e e i p p c

b Both demand and supply for

n n l i i r

i c s s k e e houses increased by 3 per cent in

40 40 s r r . u u c g g o i 23 i m F 20 F 21 current quarter. The category saw 20 20 18 23 per cent demand and 21 per cent 9 10 7 7 supply. Supply of plots fell short of 0 0 Apartment Residential House Residential Plot Apartment Residential House Residential Plot its demand by 3 per cent

BHK wise Analysis BHK Configuration - City Level l A gap of 10 per cent was noted in the demand and supply of the DEMAND SUPPLY 1BHK category. Supply of 2BHK 60 60 (Jul-Sep 2014) (Jul-Sep 2014) 50 category fell short of its demand ) 49 (Oct-Dec 2014) ) (Oct-Dec 2014)

% 50 % 50 by 19 per cent ( (

e e 42 g g

a a 39 t t S n n

40 40 o

e e Supply of 3BHK units led its 34 u l c c 33 r r 32 r c

e e 30 e

p p demand by 10 per cent in the :

M

n 30 n 30 i i

25 a s s 23 g present quarter. The category saw e e i c r r b u u r g 20 g 20 i i i 42 per cent demand and 32 per cent c F F 13 k 10 s .

c supply. Similar mismatch was 10 10 o 6 6 m 5 3 noted in 4BHK and Above category 0 0 where demand was 7 per cent and 1BHK 2BHK 3BHK 4BHK & 1BHK 2BHK 3BHK 4BHK & above above supply was 25 per cent AHMEDABAD propindex.magicbricks.com 08 VOL4, ISSUE 3; OCT-DEC, FY 2014-15

CAPITAL VALUES – LOCALITY WISE AHMEDABAD Average Listed Residential Apartment Prices

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

Ambawadi 5130 to 6460 Road 1810 to 2220 Ambli - Bopal Road 5210 to 6770 Narolgam 1860 to 2140 Anand Nagar 4360 to 5580 Navrangpura 5150 to 6520 Bodakdev 4990 to 6400 Nehru Nagar 5080 to 5870 Bopal 3190 to 4050 New CG Road 2690 to 3150 Chandkheda 2340 to 2890 New 2500 to 2980 Chandlodia 2700 to 3070 Paldi 4420 to 5290 Chimanlal Girdharlal Road 4870 to 5900 Prahlad Nagar 4530 to 6060 Drive-In Road 4980 to 6660 Prahlad Nagar Extn 3400 to 3940 Gandhinagar Road 2890 to 3370 Ramdev Nagar 4150 to 5060 3330 to 4020 Ranip 2530 to 3160 Ghuma 2620 to 2980 3000 to 3530 Gota 2680 to 3110 Satellite Road 4960 to 6330 Gurukul 4220 to 5490 Science City 3680 to 4430 Jagatpur 2940 to 3540 SG Highway 3040 to 3730 Jivraj Park 2720 to 3120 Sahihbuag 6040 to 7460 Jodhpur 5070 to 6190 Shela 2880 to 2990 Jodhpur Village 5210 to 6340 Shilaj 3330 to 4600 Makarba 3570 to 4110 South Bopal 3160 to 3850 Makarba Road 3560 to 4050 Thaltej 4700 to 6000 Maninagar 2890 to 3560 Tragad 2420 to 2870 Maninagar East 2840 to 3270 Vaishno Devi 3020 to 3610 Maningar East 2970 to 3460 Vasna 3330 to 4730 Memnagar 4610 to 5760 Vastrapur 4440 to 5670 Motera 2720 to 3260 Vejalpur 3050 to 3730 4360 to 5920 Naroda 1790 to 2060 NOTES

propindex.magicbricks.com VOL4, ISSUE 3; OCT-DEC, FY 2014-15

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DISCLAIMER

Every effort has been made to make this Index as complete and as accurate as possible. MagicBricks accepts no responsibility for inaccuracies in the information/data contained in this book. It shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to have been caused, directly or indirectly, by the information contained in this book. The information/data in this book is subject to change from time to time due to market condition.