PropIndex | Magicbricks Bengaluru Q4 2019

Residential Market Insights Market Dynamics Steady residential market growth on the back of solid fundamentals Parameters Bengaluru

Bengaluru residential market continued to perform well on all parameters in the year 2019. The consistently Demand+ +4.0% +8.5% outperforming commercial sector in Bengaluru successfully derived demand in the residential sector as well, despite Supply++ +1.5% +5.5% macroeconomic voes and competition from emerging markets such as Hyderabad as an alternative IT/ITES hub in the Price Index+++ +1.2% +0.8% south. Notes: + represents the QoQ change in volume of property searches on Magicbricks website in Q4 2019 Both the Under-Construction (UC) and Ready-to-Move (RM) segments witnessed price increments, though, active ++ represents the QoQ change in volume of active listings new project pipeline by branded developers has translated into the UC segment seeing higher price increments over on Magicbricks website in Q4 2019 the last five years. The demand for new projects by developers such as Prestige, Sobha and Brigade continued to top +++ represents the QoQ change in the weighted average price at India and city level the active listings chart on Magicbricks showing preference for developers with reliable track records. Source: Magicbricks Research

Key Developers based on Ready to Move Price Index active listings 10,000 Prestige Estates "Bengaluru residential SOBHA Limited market has risen by a 8,000 Brigade Group strong 25% last 5

f in the s

f Puravankara Limited p s

e p

years and beaten the c i R

r Mahaveer Group

N 6,000 P I

. sectoral woes." e g c v i Godrej Properties r A P

e SNN Builders g

a 4,000 r

e Assetz Property Group v A 5 Year Provident Housing 2,000 Change YoY QoQ Mantri Developers 4 5 6 7 8 9 0

1 1 1 1 1 1 2 25.2% 3.8% 0.8% 0 0 0 0 0 0 0

2 2 2 2 2 2 2 Note: Notes: The above table represents the top developers by number 1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 2019 of active listings on Magicbricks website in Q4 2019 2. The data represents price trend for properties in multistorey and builder floors only Source: Magicbricks Research Source: Magicbricks Research

Key Projects based on Under Construction Price Index consumer searches "Dominated by branded 10,000 builders with reliable Lakeside Habitat Whitefield track record, Under Janaadhar Shubha Attibele

f 8,000 s Prestige Tranquility p construction segment

f R s p N

I Ittina Neela Electronic City

e posted a solid growth e c i c i r

r 6,000 P

of 35% in the last 5 Sobha Dream Acres Panathur P .

g e v g a A years and 7.4% YoY." Prestige Kew Gardens r e v

A 4,000 Prestige Shantiniketan Whitefield

5 Year Prestige Falcon City Konanakunte Change YoY QoQ 2,000 SNN Raj Etternia Haralur Road 4 5 6 7 8 9 0

1 1 1 1 1 1 2 34.5% 7.4% 2.2%

0 0 0 0 0 0 0 Brigade Lakefront Whitefield 2 2 2 2 2 2 2

Notes: Note: 1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 2019 The above table represents the top projects by consumer 2. The data represents price trend for properties in multistorey and builder floors only preference on Magicbricks website in Q4 2019 Source: Magicbricks Research Source: Magicbricks Research

Average changes in prices for localities in various price segments Key Trends to Watch Out

Price Bracket (INR/sqft) - Metro Lines 3, 5, and extension of line < 5000 5000-6000 6000-7000 > 7000 2 (expected to operational by the year 2.4% 2.4% "The 'less than 6,000 2021 to 23), would connect all the per sqft' segments major IT corridors of the city, initiating 1.8% the second innings of residential 1.6% witnessed decent price growth 1.4% growth of around 2% in - Bengaluru has a growing plotted the quarter, even while development market in peripheral prices for the premium locations, and completion of Phase II & 0.3% start of Phase III metro construction to properties fell underpin the growth in this segment 0.0% marginally " -0.2% - Ongoing builder level consolidation to further support price and sales growth. RM UC RM UC RM UC RM UC

Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets Source: Magicbricks Research

© magicbricks.com Page 1 Demand Supply Analysis Bengaluru Q4 2019

IT sector growth keeps the 2BHK highest demanded followed by 3BHK configuration residential growth on track DEMAND SUPPLY Bengaluru market has experienced steady Above 3 BHK 1 BHK Above 3 BHK 1 BHK growth in the last half a decade, with the 5% 5% 5% 3% end-user dominating the residential sales.

"2 and 3 BHK configurations 3 BHK 39% 3 BHK together received 90% of the 47% 2 BHK property searches in Bengaluru 2 BHK 45% 51% in Q4 2019, crowding out all other BHK configurations."

Notes: - Effects of Credit Linked Subsidy Scheme (CLSS) 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHK) configuration 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration under the Pradhan Mantri Awas Yojna (PMAY) Source: Magicbricks Research were visible on the market, with 41% of the consumer searches happening in this category (less than INR 5,000 per sqft). However, very few locations in Bengaluru are offering (Price in INR per Sqft) properties costing less than INR 4,500 per sqft, Affordable searches surge ahead with the right environment limiting growth in the affordable segment. DEMAND Price buckets in INR per sqft SUPPLY Price buckets in INR per sqft - Bengaluru's developers have been able to match buyer's expectation, and no severe demand-supply mismatches witnessed in the > 7000 > 7000 quarter. 24% 25% < 5000 < 5000 34% - The city has witnessed its premium segment 41% growth over the years, with the 'above INR 7,000 per sqft' properties now making up one-fourth of the demand and supply. 6000-7000 15% 6000-7000 - Whitefield, Sarjapur Road, Bellary Road, and 18% Electronic City were the top 4 micro-markets in 5000-6000 5000-6000 the city, growing on the back of presence of 20% 24%

employment opportunities, affordability, and . airport connectivity. Notes: 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by price buckets

Source: Magicbricks Research

Top Micromarkets by consumer Propensity of demand and supply in terms of searches Demand/Supply Demand searches and listings by localities

Micro-Market Price Range Q4 Rank Q3 Rank

Whitefield 3659 - 8429 1 1 Devanahalli Sarjapur Road 3261 - 8126 2 2 Bellary Road 4026 - 9733 3 3 Yelahanka Dodda Ballapur Road Electronic City 2885 - 6085 4 4 Kanakapura Road 3691 - 9391 5 5 Central 6941 - 14758 6 8 Budigere Bannerghatta Rd 3204 - 8502 7 6 Yelahanka Note: 1. Top micro-markets of the city, ranked by number of searches on Hoskote Magicbricks in Q4 2019 Tumkur Road 2. Price ranges represent the range of avg locality prices in the micromarket in INR per sqft. Source: Magicbricks Research

Top Micromarkets by active listings aMicro-Market Price Range Q4 Rank Q3 Rank Kengeri Sarjapur Road Whitefield 3659 - 8429 1 1 Gottigere Sarjapur Road 3261 - 8126 2 2 Sarjapur Bellary Road 4026 - 9733 3 3 Bannerghatta Kanakapura Road 3691 - 9391 4 4 Electronic City 2885 - 6085 5 5 Attibele Thanisandra 4456 - 7453 6 6

Bannerghatta Rd 3204 - 8502 7 7 © OpenStreetMap contributors

Note: Note: 1. Top micro-markets of the city, ranked by their active listings on 1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) for Magicbricks in Q4 2019 properties in the localities on Magicbricks website in Q4 2019 2. Price ranges represent the range of avg locality prices in the 2. This is an interactive map available on Magicbricks.com under Propindex section. micromarket in INR per sqft. Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. Source: Magicbricks Research Source: Magicbricks Research

© magicbricks.com Page 2 Price Analysis Bengaluru Q4 2019

Q4 2019 Price changes for the city's major localities

Devanahalli -1.5%

Yelahanka Dodda Ballapur Road -7.1%

Budigere 4.0%

Tumkur Road 4.0%

Kengeri 4.1% Gottigere Sarjapur 4.0% 3.9%

Chandapura Attibele © OpenStreetMap contributors 4.1% 4.0%

Note: Avg Price Change %ge 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 2019 2. Color of the bubble represents price change in Q4 2019, with green color representing price increase and red color price decrease. -7.5% 7.5% 3. This is an interactive map available on Magicbricks.com under Propindex section. -5% -2.5% 0% 2.5% 5% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

- Most of the localities witnessed a price increase in the quarter, with the maximum price increments happening in the peripheral areas with fresh supply - IT corridors continue to perform well, with localities around Electronic City, Whitefield, and ORR IT corridor witnessing price increments - Premium domains were the underperformers for the quarter, with posh localities like Indira Nagar, Jayanagar, and Rajaji Nagar seeing price declines.

Source: Magicbricks Research

< INR 4,000 psf INR 4,000-6,000 psf INR 6,000-8,000 psf > INR 8,000 psf

Avg Price Price Avg Price Avg Price Locality Name Locality Name Avg Price Locality Name Locality Name Price Change Change Price Change Price Change

Attibele 3,335 4.0% Banaswadi 5,313 3.9% Sarjapur Road 6,041 -7.1% Konanakunte 7,300 3.9% 4,898 -7.1% Bannerghat.. 5,428 4.0% Jp Nagar 6,075 0.8% Hebbal Kempapura 7,459 3.9% Chandapura 3,652 4.1% Begur Road 5,130 4.1% Harlur 6,125 4.0% Yemalur 7,514 4.1% Electronic City 4,818 3.9% Btm Layout 5,804 4.0% Manyata Tech Park 6,174 4.0% Sanjay Nagar 7,619 -7.0% Gunjur 4,513 4.0% Budigere 5,293 4.0% Panathur 6,192 3.9% Outer Ring Road 7,627 -6.8% Hosa Road 4,850 3.9% C V Raman .. 5,829 4.0% Marathahalli 6,341 3.9% Old Airport Road 7,846 4.1% 4,804 4.1% Devanahalli 5,067 -1.5% Mahadevapura 6,477 3.9% Hebbal 7,958 4.0% K R Puram 4,876 -3.3% Gottigere 5,071 4.0% Sahakara Nagar 6,518 -1.8% Yeshwantpur 8,159 4.1% Kaggadasapura 4,644 -0.5% Hennur 5,927 4.1% Jp Nagar Phase 7 6,598 -3.7% JP Nagar Phase 1 8,482 3.9% Kengeri 4,093 4.1% Hennur Mai.. 5,974 3.9% Bellandur 6,609 4.1% Binnypete 9,120 4.1% Mysore Road 4,651 2.2% Horamavu 5,117 3.9% Hoodi Cirle 6,648 -3.4% Frazer Town 9,431 3.9% Ramamurthy Nagar 4,807 4.1% Horamavu .. 5,413 4.0% Hsr Layout 6,715 4.1% Magadi Road 9,638 4.1% Uttarahalli 4,891 3.9% Jakkur 5,714 -7.1% Kudlu Gate 6,774 3.9% Basavanagudi 10,127 -7.1% Note: 3,776 -7.1% 5,888 4.1% 6,804 4.0% 10,284 -6.4% 1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. This is an interactive table available on Magicbricks.com under Propindex section. 2. The locality prices are calculated by averaging the prices of all properties in a local5it,y2 in0 m3ulti-stor3e.y9 a%nd builder floor segment, after removing6 th,8e 2ou7tlier pr4op.0er%ties that might distort the overall prices1. 1,014 3.9% 3. The four tables above categorize the localities in various price buckets. 6,832 -7.1% 11,553 -6.9% 4. The color of the numbers represent the price change in Q4 2019, with green color r5ep,7re8se5nting pri4ce.1 in%crease, red color price decrease, and grey as neutral. Source: Magicbricks Research 5,172 -7.1% 6,852 4.0% 12,221 -7.0% For more information and research related queries, please contact: 5,084 1.7% 6,956 3.9% 12,244 -6.9% 14,018 -6.9% Surabhi Arora | Head of Research Devendra Lohmor | 5C,h5i1e2f Mana4g.0e%r Ankur Upadhyay | Data Manager Prateek Pareek | Assistant Manager [email protected] devendra.lohmor@m5a,g0i5cb2ricks.-c1o.3m% [email protected] prateek.pareek@mag1ic4b,1ri0c8ks.com4.0% 5,899 4.0% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. 5,006 2.0% Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not accept any liability on the information which may or may not be subject to change from time5 t,o0 t5im9e due to- 6G.o9ve%rnmental or non Governmental regulations/directions. 5,237 4.1% © magicbricks.com 5,902 4.0% Page 3 5,850 3.9% 5,957 0.6% 5,787 4.0% 5,490 4.0% 5,585 4.1% 5,453 -7.1% 5,492 -2.6% 5,956 4.0% 5,226 -3.8% 5,006 -4.7%