PropIndex | Magicbricks Jan-Mar 2020

Residential Market Insights Market Dynamics Metro connectivity driving residential demand in select areas Parameters Chennai

Chennai residential market has seen a steady rise in prices over the last four years. Improving connectivity via Demand+ +5.3% +6.4% , Chennai-Bengaluru infrastructure corridor, and peripheral road are particularly driving the Supply++ -0.8% +1.9% residential market in peripheral regions. The limited number of new launches by the developers has helped the sector Price Index+++ +0.1% +1.0% to maintain the supply-demand balance while cushioning price levels. Notes: Above parameters represent QoQ change in Q1 2020 at Property prices for both the Under-Construction (UC) and Ready-to-Move (RM) segments, witnessed visible price India and city level + volume of property searches increments in almost all price brackets in Q1 2020, defying fears of a systematic slowdown in the larger Indian ++ volume of active listings economy. We expect the localities with upcoming metro connectivity to gain traction in the near term. +++ change in the weighted average price Source: Magicbricks Research

Ready to Move Price Index Key Developers based on active listings 8,000 "Chennai residential Casagrand Builders prices witnessed a Radiance Realty 7,000 Alliance Group t decent 6.7% YoY price f q s Puravankara r increase, indicative of e p 6,000 R positive sentiments" Mahindra Lifespace N I

e KG Developers & Promoters c i r P TVS Emerald e

g 5,000 a r Shriram Properties e

v 5 Year A Change Doshi Housing 4,000 YoY QoQ Appaswamy Real Estates 4 5 6 7 8 9 0

1 1 1 1 1 1 2 18.7% 6.7% 1.0% 0 0 0 0 0 0 0 2 2 2 2 2 2 2 The above table represents the top developers by share of Notes: active listings on Magicbricks website in Q1 2020 1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on March 2020 Source: Magicbricks Research 2. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research

Key Projects based on consumer Under Construction Price Index searches 8,000 "Under construction The Metrozone segment prices also Provident Cosmo City SIPCOT

t 7,000 f

q SKC Homes Guduvancheri

s improved, albeit

r e p marginally, with almost Alliance Orchid Springs R N

I 6,000 Shri Sai Apartment T Nagar

e 2% price growth YoY" c i r P

Akshaya Today e g a

r 5,000 Harini apartment e v A 5 Year Embassy Residency Change YoY QoQ 4,000 Prestige Bella Vista Iyyappanthangal 4 5 6 7 8 9 0

1 1 1 1 1 1 2 3.2% 1.9% 0.3%

0 0 0 0 0 0 0 Happinest 2 2 2 2 2 2 2

Note: Note: 1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on March 2020 The above table represents the top projects by consumer 2. The trend line represents the average prices of dominant asset class in each locality of the city. preference on Magicbricks website in Q1 2020 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) - Good metro connectivity is turning < 5,000 5,000-7,000 7,000-9,000 > 9,000 Mount road into OMR 2.0 for IT firms, driving demand for 1.8% residential space "Properties costing more than INR 7,000 - Metro phase 2 project comprising of corridor 3 ( to SIPCOT); 0.9% per sqft witnessed price corridor 4 (Lighthouse to Poonamallee); 0.7% 0.7% and corridor 5 (Madhavaram to 0.5% increments for both Sholinganallur), to begin operations in 0.2% 0.2% complete and under 2020 construction units" - Outer ring road's Nemilichery to stretch, and peripheral ring road -0.4% connecting Poonjeri Junction to RM UC RM UC RM UC RM UC Port, may also get completed in 2020

Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q1 2020 for various price buckets Source: Magicbricks Research

© magicbricks.com Page 1 Demand Supply Analysis Chennai | Jan-Mar 2020 Rank of 90 .. 1 to 7

IT/ITeS and infrastructure 2 and 3 BHKs most preferred types growth keep the residential segment on track DEMAND SUPPLY Above 3 BHK 1 BHK Above 3 BHK 1 BHK Robust connectivity and growth in IT/ITeS and 3% 11% 4% 8% industrial segments in the city have led to 3 BHK consumer demand matching supply in most 30% 3 BHK areas of the city 37%

"2 BHK configuration received the 2 BHK most traction in Q1 2020 with 56% 51% of the city's searches falling in this 2 BHK 56% segment" Notes: 1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration - Alternate Investment Fund (AIF) and credit 2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by BHK configuration guarantee schemes for Non- Banking Financial Source: Magicbricks Research Companies (NBFCs) have eased the liquidity situation for developers, while sustaining buyer's trust in developers to complete their projects on time, and enhancing the residential Healthy demand-supply equation in all price brackets (Price in INR per Sqft) development in the city

- Chennai is one among the few markets in the DEMAND Price buckets in INR per sqft SUPPLY Price buckets in INR per sqft country where the premium segment continues to do well and the city witnessed 20% of its > 9,000 > 9,000 consumer searches for properties costing more 20% 15% than INR 9,000 per sqft < 5,000 7,000-9,000 < 5,000 39% 10% 40% - OMR micromarket continues to do well, while being most favored by buyers, as major IT developments and various industries are located 7,000-9,000 within this region 12%

- Anna Nagar and micro-markets have 5,000-7,000 5,000-7,000 witnessed a significant surge in demand in 30% 34% Q1 2020, as buyers anticipated the current and upcoming metro lines to significantly enhance . Notes: the future prospects of these locations 1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by price buckets

Source: Magicbricks Research

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

Micro-Market Price Range Rank Rank Q1-20 Q4-19

OMR 3200 - 8850 1 1 6200 - 20700 2 2 Ambattur 3000 - 7700 3 8 Avadi Anna Nagar 5100 - 14900 4 10 4000 - 9050 5 4 4900 - 11850 6 5 Poonamalle GST- Perangalthur 3050 - 5200 7 3

Note: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q1 2020 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

Micro-Market Price Range Rank Rank Sholinganallur Q1-20 Q4-19

OMR 3200 - 8850 1 1 Guduvancheri Ambattur 3000 - 7700 2 4 3800 - 7250 3 3 GST- Perangalthur 3050 - 5200 4 2 Kelambakkam 3800 - 6100 5 7 Central Chennai 6200 - 20700 6 5 Velachery 4000 - 9050 7 6 Mahindra World City © OpenStreetMap contributors Thiruporur

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 Q1 2020 properties in the localities on Magicbricks website in Q1 2020 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 Chennai | Jan-Mar 2020

Q1 2020 Price changes for the city's major localities

Veppampattu Avadi 1.2% -0.3%

Mangadu 0.3%

Guduvancheri 3.7%

Old Mahabalipuram Road Mahindra City 4.6% © OpenStreetMap contributors -0.2%

Note: -7.5% 7.5% 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q1 2020 2. Color of the bubble represents price change in Q1 2020, with green color representing price increase and red color price decrease. -5% -2.5% 0% 2.5% 5% 3. This is an interactive map available on Magicbricks.com under Propindex section. Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

- Most of the localities with notable price declines were located close to the centre of the city and bound by ORR

- Growing industrial and IT developments along OMR and GST Road were the major drivers behind the price increments in these regions

Source: Magicbricks Research

< INR 5,000 psf INR 5,000-7,000 psf INR 7,000-9,000 psf > INR 9,000 psf

Avg. Price Avg. Price Avg. Price Avg. Price Locality Locality Locality Locality Price Change Price Change Price Change Price Change Veppampattu 3,160 1.2% PH Road 5,012 -2.6% Kolathur 7,013 7.5% 9,459 -2.5% 3,716 6.2% 5,056 -0.3% 3,990 -0.9% Madhavaram 5,057 1.4% Velachery 7,372 -3.1% Anna Nagar 10,363 1.0%

Avadi 3,998 -0.3% 5,262 0.8% 7,410 7.5% Thiruvanmiyur 10,551 2.0% Kelambakkam 4,034 0.0% Ambattur 5,383 2.8% East Coast Road 7,653 -2.4% Poonamalle 4,054 -7.5% Sholinganallur 5,505 0.1% 11,851 3.5% Urapakkam 4,185 7.5% 5,535 0.3% 7,712 2.3% Mahindra City 4,185 -0.2% 5,583 2.6% T Nagar 12,930 -3.5% 7,726 -3.4% 4,265 -1.4% 5,603 -1.3% 13,099 7.5% 4,342 -0.6% 5,653 -1.9% Arcot Road 7,816 -4.7% G S T Road 4,346 1.9% 5,674 7.3% Adyar 13,108 -4.2% 8,009 3.4% Guduvancheri 4,383 3.7% Porur 5,837 -1.2% 4,423 -3.8% 5,855 -5.7% 8,297 -5.3% 14,668 -4.9% Nanmangalam 4,434 1.4% Iyyappanthangal 5,856 -5.0% 8,772 7.5% 16,016 7.5% Padur 4,438 -0.3% 5,965 1.4%

Note: 4,450 -5.3% 5,997 -3.2% 1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q1 2020. This is an interactive table available on Magicbricks.com under Propindex section. 2. The locality prices are calculated4 b,5y a2v9eraging t0h.e3 p%rices of all properties in a locality in multi6-s,t2or1e7y and buil0de.r1 fl%oor segment, after removing the outlier properties that might distort the overall prices. 3. The four tables above categorize4 t,h6e0 lo9calities- i2n .v1a%rious price buckets. 6,358 2.1% 4. The color of the numbers represent the price change in Q1 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research 4,701 2.6% 6,444 7.5% For more information and4 r,e7s5e8arch re0la.0te%d queries, please contact: 6,445 -7.2% 4,842 0.6% 6,852 -6.0% Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Kavya N | Research Analyst surabhi.arora@magicbrick4s,8.c4o4m 4 . 6 % [email protected] [email protected] [email protected] 4,894 3.8% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

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 time to time due to Governmental or non Governmental regulations/directions.

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