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INSITE REPORT 2018 July - September

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Contents

From CBO’s Desk 03 CBO’s perspective on current market sentiment

National Outlook 04 Snapshot of real estate ambience across top 8 metro cities

Market Indicators 05 Changes in capital rates and inventory status QoQ; and rental values YoY

Market Movers 06 News that impacted Mumbai's realty market in Jul-Sep 2018

99acres Outlook 07 99acres’ perspective on current market sentiment

Navi Mumbai 08 Key highlights - 's Capital and rental market in Jul-Sep 2018

Thane and Beyond 10 Key highlights - 's capital and rental market in Jul-Sep 2018

Mumbai 12 Key highlights - Mumbai's capital and rental market in Jul-Sep 2018 14 Annexures INSITE : MUMBAI 3

From CBO’s Desk

The Indian real estate sector finally bid adieu to the prolonged impasse which started with demonetisation and worsened with RERA and GST ambiguities. Recovering property enquires, sales volume and prices were testimony to a progressive market sentiment. Barring Chennai and Pune, where average Maneesh Upadhyaya weighted property prices remained unchanged this quarter, Chief Business Officer all other metro cities witnessed the capital rates increasing 99acres.com marginally versus the previous quarter. Hyderabad remained at the forefront with a two percent rise in ‘ask’ rates. While unsold inventory trimmed in both new projects and resale markets, project launches in affordable housing segment gained momentum. Multiple efforts towards strengthening infrastructure, a pro-buyer regulatory environment in the country and unchanged interest rates are expected to push the housing sector on a growth trajectory with improvement in fresh supply and sales volume in the ensuing quarters.

Methodology The Insite Report by 99acres.com captures the quarterly capital trends and the annual rental analysis of residential apartments in key real estate markets – Delhi NCR, Mumbai Metropolitan Region (MMR), Bangalore, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad. In order to assess the prevailing sentiment, the report delves deep into demand and supply of properties across varied budget segments and occupancy stages. While demand is a function of queries received, supply is based on property listings posted on 99acres.com in Jul-Sep 2018. 99acres India’s No.1 Property Portal

NATIONAL OUTLOOK HOME BUYING SENTIMENT Buyer sentiment remained upbeat in all metros barring Kolkata where the ambiguous regulatory environment restricted sales. While Hyderabad witnessed increased property enquiries in the pre-election period, Delhi NCR, Mumbai and Bangalore merrily marched towards the festive quarter in hope of a realty revival with property sales improving this quarter.

PROPERTY PRICES Except Chennai and Pune where prices remained unchanged, average capital ‘asks’ remained buoyant across metros in Jul-Sep 2018. Capital values in the premium segment remained under check due to a cumulative inventory overhang of over four lakh units. Hyderabad led all metros with two percent growth in prices, QoQ, owing to the recently launched RERA website.

RENTAL LANDSCAPE The seven-quarter growth spree of the rental market continued in the eighth quarter with all metros reporting a spike in the average rentals by 3-5 percent. Mumbai, Bangalore, Pune and Hyderabad emerged as the frontrunners in the rental market. With a slow-paced revival in the capital market, rental growth is anticipated to continue in the forthcoming quarters.

SUPPLY Cities continued to swarm with unsold inventory, albeit lower than the previous quarters but sufficient to restrict capital growth. Hyderabad had the lowest unsold stock, whereas Delhi NCR and Mumbai led the pack with 1.5 lakh and 80,000 units lying unsold, respectively. The controlled pace of new launches and slow-paced RERA registrations curtailed the saleable primary inventory. INSITE : MUMBAI 5 MARKET INDICATORS

Capital Values Rental Values Supply Bangalore ˄ ˄ ˅ Delhi NCR ˄ ˄ ˅ Mumbai ˄ ˄ ˄ Chennai ˄ ˅ Pune ˄ ˅ Hyderabad ˄ ˄ ˄ Kolkata ˄ ˄ ˅ Ahmedabad ˄ ˄ ˄ * Capital values represent quarterly change * Rental values represent yearly change * Supply is basis properties listed on 99acres.com

IN FOCUS GST ANNIVERSARY

June 1, 2018 marked the first anniversary of the replacement of the archaic tax policy with the unified tax system - Goods and Services Tax (GST) in India. The realty sector, which landed in the 12 percent tax bracket, was freed of multiple taxes such as VAT, Service Tax and Central Excise. Input Tax Credit (ITC) and the anti-profiteering clause were the two most benefitting features of the new tax system.

PROPERTY PRICES Ambiguities regarding Input Tax Credit and its mode of payment kept the buyers wary of investing in under-construction properties. Despite causing a shift in buyer preference towards ready homes, GST did not trigger a downward price correction. Exclusion of Stamp Duty and Registration charges from GST increased the total cost of owning a house by 3-4 percent.

AFFORDABLE HOUSING The slash in the GST slab from 12 to eight percent firmed buyer’s confidence and demand for the country’s flagship program – Pradhan Mantri Awaz Yojana (PMAY). Although a significant impact on property sales has not been noted, the rate cut has helped improve buyer sentiment. The move is expected to propel transactions in the affordable housing segment in the longer run.

RENTAL MARKET The extension in the monthly limit of maintenance charges to Rs 7,000 for levying 18 percent GST, and on the annual threshold limit from Rs 10 lakh to Rs 20 lakh for the applicability of GST on rent attracted from a commercial property or from a residential property used for commercial purposes, eased the tax liability on property owners. 99acres India’s No.1 Property Portal

Market Movers

Govt approves four new infra projects MahaRERA uses GIS technology to in Mumbai map realty projects The State government approved infrastructure The successful mapping of over 4,500 projects such as the expansion of Mumbai- registered projects by Geographical Pune Expressway, and development of the Information System (GIS) helped buyers use -Versova sea link, Thane Creek Bridge the ‘view on map’ facility on MahaRERA’s 3, and --Shil-Phata road. In website. The technology is instrumental in addition, two new metro rail projects – providing details regarding social infrastructure to Mira Bhayander and -Chhatrapati available near the projects, helping Shivaji Maharaj International (CSMI) airport homebuyers finalise their purchase. have also been approved. Mumbai to witness single-window State proposes 1 percent surcharge approval system soon on stamp duty The proposal to execute single-window The State government’s proposal to levy clearance in Mumbai cheered stakeholders as one percent additional surcharge on realty it will expedite the building approval system transactions in addition to the existing five and keep a check on corruption. Faster percent stamp duty is expected to inflate approvals and smoother completions property values, thus hampering consumer will help reinstate the faith of sentiment and posing as a hindrance to sales. homebuyers who are dismayed by incessant project delays. MahaRERA takes stringent action against unregistered projects Tightening the noose on local authorities, MahaRERA released 85 letters to the commissioners and collectors to take quick action against unregistered projects. In the last one year, nearly 16,000 projects have been registered under MahaRERA. The step is expected to expedite the registration of the remaining projects in the State. INSITE : MUMBAI 7

99ACRES OUTLOOK

Mumbai’s real estate market seemed to have regained momentum with new launches doubling in numbers in Jul-Sep 2018 in comparison to the same quarter previous year. Thane bagged the maximum share of new projects launched in the city. The stake of new affordable housing inventory also rose close to 60 percent in the quarter. Overall, the city recorded a growth of seven percent in total availability of new and resale apartment stock.

While unsold inventory, particularly in the higher budget segments, kept a downward pressure on average property values in most regions, some pockets in Thane managed to record modest appreciation in average capital ‘asks’. Housing demand gained steam and sales finally started recovering, but not enough to give developers the confidence to alter 'ask' rates significantly. Some resale heavy pockets in Navi Mumbai and South-Central markets also witnessed price corrections up to five percent due to sluggish offtake of the existing inventory. The rental segment, however, performed well across Mumbai, Navi Mumbai and Thane, recording an average growth of five percent, YoY.

Strong hold of MahaRERA ensured that the developers adhered to the mandates, buoying buyer sentiment and ensuring growth in housing demand in the ensuing quarters. While Ganesh Chathurti had minimal impact on the sales volume, the upcoming Navratri and the subsequent Diwali months may witness developers rolling out attractive offers to augment sales.

Price Movement in Key Micro-markets

LOCALITY AVERAGE ‘ASK’ RATE (PER SQ FT) QOQ CHANGE YOY CHANGE Panvel 5,700 - 6,300 4% 6% 7,500 - 9,100 2% 8% 6,300 - 7,300 2% 9% (East) 5,100 - 6,100 2% 4% Kalyan (West) 5,200 - 6,300 0% 1% 3,000 - 3,700 -1% -1% Andheri (West) 19,100 - 23,300 -1% 1% 4,000 - 4,500 1% 0% (West) 13,000 - 15,200 3% 1% Kandivali (East) 12,900 - 15,600 -1% 1%

* Average ‘ask’ rates have been calculated as per listings posted on 99acres.com in the current quarter 99acres India’s No.1 Property Portal

NAVI MUMBAI KEY HIGHLIGHTS Navi Mumbai bloomed with real estate activity and the launch of several Navi Mumbai’s real estate scenario affordable residential projects. Localities closer to the upcoming airport is set for a new beginning as the benefited the most with increased demand from bugdet homebuyers. groundwork for the International Airport has been laid. Despite a minimal one Panvel, Kharghar and Ulwe remained the popular residential hubs and percent increment in average weighted significantly leveraged the ongoing international airport. Panvel, which prices, QoQ, the positive market will be the closest to the airport, recorded a four percent increase in sentiment highlights the start of a capital prices, QoQ. The planned -Panvel suburban rail corridor new phase of development in Navi will go a long way in boosting Panvel’s real estate market further. Mumbai’s real estate landscape. Other upcoming infrastructure projects such as Mumbai Trans Harbour Link (MTHL), Karjat-Panvel corridor, Mumbai-Panvel-Konkan Railway Corridor played a key role in keeping the buyer sentiment positive in Navi Mumbai.

Several parts of the region are being developed into global commercial hubs, supporting growth across the residential segment as well. Panvel

9% 9% 9% 8% 8%

6% 5% 7% 4% 6%

4% 3% 2% 1% 1% 1% 1% 2%

0% 0%

Capital Rental Panvel Panvel New Koperkhairane Kharghar Ulwe Taloja Ghansoli Kalamboli Roadpali

* %change represents quarterly capital movement and yearly rental movement Panvel * %changerepresents capitalmovement andyearly quarterly rental movement

New Panvel

Koperkhairane

Kharghar

Ulwe

Taloja

Ghansoli

Kalamboli

Nerul

Roadpali international airport aredrivers. someoftheprimary international airport projects,availability of affordable residential unitsand construction of thenew 7-9 percent in rental prices inJul-Sep2018vs.2017.Infrastructure Sanpada, Koperkhairane, Ghansoli and Taloja saw an upsurge to thetune of of workingprofessionalscity. inthe including Roadpali, Mostofthelocalities Average weightedrentals were up by seven percent, YoY, highlighting an influx configurations. 1BHK for month per 25,000 Rs from starting options housing The rental market inNavi Mumbai flourished due to theavailability of affordable areNavi otherdemandpropellers. MumbaiInternationalAirport speed corridorbeingsetupfor directsix-lane connectivity from Kharghar to the commercial development around the neighbouring region as wellthenew Kharghar cameinsecond with a two percentin capital rise values. Increased IT/ITeS companies,MNCs,BFSIandgovernment offices. to home – Mumbai Navi of hubs office growing fastest the of one remained BUDGET-WISE SUPPLY OF PROPERTIES Jul-Sep 2018

Within Rs40Lakh 46% -33% 13% Apr-Jun

2018 49%

* Graph depicts the fluctuation in supply wrt demand forresidential invarious properties budget categories * Graphdepictsthe fluctuationinsupplywrt -34% 15% Jul-Sep

2017 48% -31% 17% Jul-Sep 2018 26%

Rs 40-60Lakh -2% 24% Apr-Jun

2018 25% -1% 24%

Jul-Sep 26% 2017

-3% 23% Rs 60Lakh -Rs1Crore Jul-Sep 2018 11% 25% 36% Apr-Jun

2018 10% 26% 36% Jul-Sep

2017 11% 26% 37% Jul-Sep 2018 14%

Rs 1-2Crore 9% Apr-Jun 23% 2018 13% 8% 21% Jul-Sep 2017

13%

6% of under-constructionandready stock types,QoQ,alongwiththedistribution otherproperty wrt * Graphdepictstheavailability ofresidential apartments 19% Jul-Sep 2018 UC Jul-Sep Rs 2Crore andAbove DEMAND SUPPLY OF APARTMENTS

2018 27% 3% 90% / 10% 1% RTM

4% INSITE :MUMBAI Apr-Jun 2018 3% 24% 90% / 10% DEMAND 1% 4% Jul-Sep 2017 2% SUPPLY 2% Apr-Jun 2018 UC 4% 26% 93% / 7% RTM

26% 90% / 10% SUPPLY 9 99acres India’s No.1 Property Portal

THANE AND BEYOND KEY HIGHLIGHTS Proposed infrastructure projects, including Metro Line 4 (Kasarvadavali- Housing demand in Thane continues ) and a 42 km-long light rail network, are set to propel the to grow on the back of competitively real estate sentiment in Thane. Reputed players in the real estate sector priced housing inventory and improving are expanding their presence in the city, targeting low and middle- infrastructure. With over 60 precent income homebuyers. of the total new launches this quarter, Thane also had the maximum Units configured as 1BHK apartments continued being on the top affordable stock across MMR. Property of the popularity charts. With several residential projects being built values recorded negligible growth across Ghodbunder Road, the supply of such compact homes is and are not expected to alter a lot in also set to rise. the ensuing quarters, too. The belt, Several new projects by reputed players covered the residential however, is poised to see more landscape of Patlipada. The locality clocked a four percent increment in growth with developers venturing capital values, QoQ. This has also ensured a parallel rise in rental values, into the region with new offerings to the tune of seven percent, YoY. Availability of housing options in the in the time to come. locality, particularly affordable-luxury projects, has left the buyers spoilt for choices.

4% 4% 3% 2% 2% 2% 0% 0% 0% 0%

0% 0% 0% 0% 0% -1% -1% -2% -2%

-6%

Capital Rental Patlipada Dombivli (East) Nagar Vartak Dombivli (West) Ambernath Owale Kasarvadavali Manpada Badlapur Majiwada

* %change represents quarterly capital movement and yearly rental movement INSITE : MUMBAI 11

SUPPLY OF APARTMENTS

Dombivli (East), a developing residential locale in Thane, gained prominence UC RTM DEMAND UC RTM SUPPLY due to price-competitive housing inventory. The locality saw an increment of two percent in capital prices, QoQ. The recently opened -Dombivli Railway over Bridge (ROB) – connecting the eastern and the western parts of the city, emerged as a major growth driver for the area.

Other popular localities that feature in the capital growth graph include Ambernath, Kasarvadavali, Manpada and Badlapur – all boasting of pocket- friendly apartments, strong connectivity and proximity to other regions of 89% / 11% 89% / 11% Mumbai. RERA-compliant projects in these localities instilled confidence 90% / 10% amongst buyers and spurred realty demand. 83 % / 17%

Thane witnessed an increase of five percent in average weighted rental ‘asks’,

YoY, with , Patlipada and Kalyan (West) leading the charts. Infrastructure 27% 27% 26% 25% projects such as Wadala--Thane-Kasarvadavli Metro corridor, Jul-Sep 2018 Apr-Jun 2018 commercial and retail expansion contributed to the growth. * Graph depicts the availability of residential apartments wrt other property types, QoQ, along with the distribution of under-construction and ready stock

BUDGET-WISE SUPPLY OF PROPERTIES

DEMAND SUPPLY 56% 54% 52% -17% -23% -25% 19% 16% 14% 8% 8% 7% -5% -4% -7% 24% 25% 27% 20% 20% 21% 23% 21% 23% 3% 3% 3% 5% 5% 5% 8% 29% 29% 2% 33% 33% 33% 33% 9% 18% 17% 16% 13% 12% 13% 2% 2% 10% Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep 2018 2018 2017 2018 2018 2017 2018 2018 2017 2018 2018 2017 2018 2018 2017 Within Rs 40 Lakh Rs 40-60 Lakh Rs 60 Lakh - Rs 1 Crore Rs 1-2 Crore Rs 2 Crore and Above

* %change represents quarterly capital movement and yearly rental movement * Graph depicts the fluctuation in supply wrt demand for residential properties in various budget categories 99acres India’s No.1 Property Portal

MUMBAI Unlike Navi Mumbai and Thane, KEY HIGHLIGHTS Mumbai core city continued to be in a state of lull. Despite price corrections in Property sales in Mumbai remained stagnant in the Jul-Sep 2018 several housing pockets and lucrative quarter despite the festive fervour catching up. Increased preference offers by the developer fraternity, the for affordable properties in Navi Mumbai and Thane contributed to the city reeled under the pressure of unsold sluggish capital scenario in the city. inventory and MahaRERA’s stringent Braving the overall impasse, some localities boasting of strong rules. While the region witnessed connectivity junctions and fresh real estate projects claimed the top some high-end new launches, average spot on the capital growth graph. Rapid housing demand met restricted property prices maintained status-quo supply in these locations, leading to an upward price movement, QoQ. this quarter. Santacruz (East) featured as the frontrunner with a five percent rise in capital prices owing to its proximity to Bandra Complex (BKC) - the emerging commercial hotspot in Mumbai. Among the developed areas in the city, Santacruz (East) qualifies as the obvious choice for homebuyers owing to its superior connectivity via Milan flyover and Western Expressway.

The premium housing hub, , too, recorded a five percent increment in capital prices during the quarter. Home to celebrities and High Net- worth Individuals (HNIs), Juhu’s skyline is dotted with new premium

5% 5% 4%

2% 2% 1% 1% 0% 0% 0% -1% 0% 0% 0% -1% -2% -3% -2%

-5%

-8%

Capital Rental Santacruz (East) Santacruz Juhu (East) (West) Ghatkopar (East) Wadala Andheri (East) (East) Kandivali Khar

* %change represents quarterly capital movement and yearly rental movement INSITE : MUMBAI 13

SUPPLY OF APARTMENTS

projects by leading players such as Kalpataru, Rustomjee and Suntech – which UC RTM DEMAND UC RTM SUPPLY have helped escalate overall capital rates.

A popular western suburb of Mumbai, Jogeshwari (East) is thriving on the launch of large-scale residential projects, connectivity to the airport and proximity to rapid infrastructure projects such as metro. The locality chronicled a four percent hike in capital prices, QoQ. 82% / 18% The rental picture tilted towards localities that enjoy robust connectivity and 85% / 15% 91% / 9% are booming with new residential projects. Average rentals rose by five percent 88% / 12% in Jul-Sep 2018, as compared to the same period a year ago.

Pali Hill that witnessed a 10 percent hike in rentals, YoY, benefitted from its proximity to Bandra and a high volume of rental demand. Working professionals from banks and corporates, who choose to live closer to Bandra, sought a home in Pali Hill. While a 1 BHK unit starts from Rs 80,000 per month, a 2 BHK is available between Rs 1-1.5 lakh per month. 42% 46% 42% 46% Sion (East) followed suit with a nine percent increase in rentals. Premium high- Jul-Sep 2018 Apr-Jun 2018 rises cover the skyline of the locality in addition to improved connectivity.

* Graph depicts the availability of residential apartments wrt other property types, QoQ, along with the distribution of under-construction and ready stock

BUDGET-WISE SUPPLY OF PROPERTIES DEMAND SUPPLY 16% 15% 13% 37% 5% 4% 36% 1% 28% 29% 29% 34% 25% -13% 23% 23% 6% 6% 6% -15% -17% 17% 16% 17% 16% 16% 16% -7% -10% -10% 12% 12% 14% 10% 7% 9% 21% 15% 15% 10% 21% 7% 21% 26% 10% 28% 27%

Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep Jul-Sep Apr-Jun Jul-Sep 2018 2018 2017 2018 2018 2017 2018 2018 2017 2018 2018 2017 2018 2018 2017 Within Rs 40 Lakh Rs 40-60 Lakh Rs 60 Lakh - Rs 1 Crore Rs 1-2 Crore Rs 2 Crore and Above

* %change represents quarterly capital movement and yearly rental movement * Graph depicts the fluctuation in supply wrt demand for residential properties in various budget categories 99acres India’s No.1 Property Portal

Annexures

CAPITAL VALUES - MUMBAI CAPITAL VALUES - MUMBAI RENTAL VALUES - MUMBAI

Locality Jul-Sep 2018 Locality Jul-Sep 2018 Locality Jul-Sep 2018

Andheri (East) 17800 (East) 15375 Ghatkopar (East) 44 Andheri (West) 23200 Malad (West) 16175 Ghatkopar (West) 44 Bandra (East) 30200 16100 (East) 40 Bandra (West) 41900 (East) 4150 Goregaon (West) 41 (East) 14800 Nallasopara 4500 Jogeshwari (East) 48 Bhandup (West) 15175 3300 Jogeshwari (West) 44 Bhayander (East) 7975 Pali Hill 47250 Juhu 76 Bhayander (West) 8600 27850 Kandivali (East) 32 3200 21400 Kandivali (West) 31 (East) 15400 37625 Kanjurmarg (East) 39 Borivali (West) 16800 Santacruz (East) 22000 Kanjurmarg (West) 42 Breach Candy 61950 Santacruz (West) 37600 Khar 82 29900 30050 Kurla (East) 38 Chembur 17000 Vasai 5375 Kurla (West) 44 41000 Versova 23000 (West) 69 60000 (East) 21800 Malad (East) 36 32000 Vikhroli (West) 14875 Malad (West) 39 Dahisar 13100 (East) 28700 Mulund 34 Ghatkopar (East) 18000 Vile Parle (West) 31500 Nallasopara 9 Ghatkopar (West) 18600 Virar 4450 Parel 70 Goregaon (East) 17375 Wadala 22775 Powai 50 Goregaon (West) 16600 37000 Prabhadevi 91 Jogeshwari (East) 18275 Santacruz (East) 53 RENTAL VALUES - MUMBAI Jogeshwari (West) 16750 Santacruz (West) 75 Juhu 37200 Andheri (East) 46 Sewri 91 Kandivali (East) 15550 Andheri (West) 49 Sion (East) 45 Kandivali (West) 15125 Bandra (East) 63 Vasai 12 Kanjurmarg (East) 14875 Bandra (West) 88 Versova 55 Kanjurmarg (West) 15000 Bhandup (East) 36 Vikhroli (East) 46 Khar 37400 Bhandup (West) 37 Vikhroli (West) 44 Kurla (East) 14700 Borivali (East) 33 Vile Parle (East) 62 Kurla (West) 14900 Borivali (West) 32 Vile Parle (West) 66 Lower Parel 33200 Chembur 44 Virar 9 Mahim (West) 30750 Dadar 76 Wadala 54 64000 Dahisar 27 Worli 85

*All prices are per sq ft rates *Capital change depicts quarterly alterations in average ‘asks’ *Rental change depicts yearly alterations in average ‘asks’ INSITE : MUMBAI 15

Annexures CAPITAL VALUES - THANE CAPITAL VALUES - NAVI MUMBAI RENTAL VALUES - NAVI MUMBAI AND BEYOND

Locality Jul-Sep 2018 Locality Jul-Sep 2018 Locality Jul-Sep 2018 Panvel 11 4050 11250 Roadpali 11 4050 Belapur 11100 Sanpada 31 Vartak Nagar 11500 Dronagiri 4750 Seawoods 26 Vasant Vihar 12700 Ghansoli 10800 Taloja 9 Vasind 3425 Kalamboli 6800 Ulwe 8 Waghbil 10000 7325 29 Karanjade 5675 Khanda Colony 7600 CAPITAL VALUES - THANE RENTAL VALUES - THANE Khandeshwar 7900 AND BEYOND AND BEYOND Kharghar 9100 Ambernath 4000 Ambernath 9 3500 Anand Nagar 9700 Anand Nagar 21 Koperkhairane 11025 Badlapur 3650 Badlapur 7 Nerul 12675 Balkum 10250 Balkum 23 5700 Bhiwandi 4400 Dhokali 23 Palm Beach 17800 Charai 12600 Dombivli (East) 13 Panvel 6075 Dhokali 11000 Kalwa 19 Roadpali 6675 Dombivli (East) 6100 Kalyan (West) 13 Sanpada 13800 Dombivli (West) 6900 Kasarvadavali 19 Seawoods 11800 Kalwa 8800 Kavesar 22 Shilphata 6000 Kalyan (East) 5600 Majiwada 24 Taloja 5050 Kalyan (West) 6300 Manpada 25 Ulwe 7300 Kapurbawadi 11800 Owale 18 Vashi 14450 Karjat 3425 Panch Pakhadi 30 Kasarvadavali 8750 Patlipada 25 RENTAL VALUES - NAVI MUMBAI Kavesar 10075 Teen Haath Naka 31 Airoli 27 Khopat 12700 Vartak Nagar 28 Belapur 25 10300 Vasant Vihar 27 Ghansoli 24 Majiwada 11000 Waghbil 21 Kalamboli 12 Manpada 11900 Kamothe 13 Neral 3225 Kharghar 17 Owale 8800 Koperkhairane 25 Panch Pakhadi 15000 Nerul 27 Patlipada 13000 New Panvel 13 Teen Haath Naka 13825 Palm Beach 33 Thakurli 6400

*All prices are per sq ft rates *Capital change depicts quarterly alterations in average ‘asks’ *Rental change depicts yearly alterations in average ‘asks’ 99acres India’s No.1 Property Portal 99acres India’s No.1 Property Portal FIND BEST OPTIONS TO FIND BEST OPTIONS TO BUY SELL RENT PROPERTY buy, sell, rent property

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