VADODARA FOREWORD

PropIndex entered the fourth year of operations. In the first issue of the series, PropIndex reflected the cautiously positive consumer sentiment with the National Property Index rising by 1 per cent in the Apr-Jun 2014 quarter. The City Index values too, remained even across cities with a marginal increase or drop of 1 per cent, except in Delhi. Demand for property in the Upto Rs 20 lakh dropped across the country, contrary to the industry buzz that this is undersupplied and in greater demand. The 2BHK unit remained the most popular category across cities, reflecting the aspiration of urban dwellers to own a property that would match their lifestyles. The most preferred price range remained Rs 30-50 lakh, where supply was in plenty and the budget was within reach of the middle class, which remained out of the market for a few quarters. Luxury properties, though in greater demand, remained over-supplied as developers across the country chose to build in this category. As more units hit the market, consumers have started choosing locations, budgets and conveniences in this category. Luxury values across cities have been included as a separate annexure. Rental values either dropped or stabilised in the quarter. The percentage growth in rental values was arrested as consumers again started looking for the buy option. Unlike the previous quarter, where rental values rose by 5-10 per cent, in this quarter, it dropped by upto 5-6 per cent, across cities. Demand preferences remained the same as in the previous quarters but was not evenly spread across the city. Locations near economic corridors continued to post greater demand. However, unlike the previous quarter, besides IT, the manufacturing sector too, drove demand in select cities such as Chennai. In Mumbai, the commercial hubs of the Bandra-Kurla Complex and even Thane drove demand. The completion of infrastructure projects such as the Santa Cruz-Chembur Link Road and the the Metro Phase-I from Versova to Ghatkopar, which eased connectivity to the commercial hubs, also contributed to change in demand patterns. The Union Budget of 2014-15 presented recently, has addressed the housing market’s concerns in many ways. It has featured budget housing, finance issues, township development road map and development of smart cities as part of the main Budget. While the outcome will take a while, the urban infrastructure and housing provisions are expected to boost sentiment. These are exciting times and change is in the air. Share your views on this report and how we could make PropIndex even better. Write in at [email protected]. Sudhir Pai Business Head, Magicbricks.com NOTES VOL 4, ISSUE 1; APR-JUN, FY 2014-15 propindex.magicbricks.com

NATIONAL PROPERTY INDEX (NPI) APR-JUN 2014

n Of the 12 cities 9 showed minor changes in the City Indices, while rental market showed subdued trends in majority of the cities n Properties worth upto Rs 30 lakh recorded a significant drop in demand, whereas, properties worth above Rs 30 lakh, across the budget Source: Magicbricks.com categories, witnessed a rise APR-JUN 2014 Index values. This led to a small rise of 1 per cent in the NPI. n Demand for 2BHK In the Apr-Jun 2014 quarter, no units rose by 1-5 per major change was recorded in the Bangalore, Chennai, Gurgaon, cent across the cities, respective City Indices, except Kolkata and Pune noted a small except Gurgaon Delhi, which registered a drop of rise of 1 per cent in the City Index. On the other hand, Noida, 4 per cent. All other Indices government has announced a slew exhibited minus 1 to plus Ghaziabad, and Mumbai City Indices remained of measures to infuse fresh life 1 per cent change, indicating a into the real estae sector. slow market. No significant unchanged. Ahmedabad and increase was noted in supply, Hyderabad showed a small drop of In this edition of the PropIndex, showing a cautious approach. 1 per cent. Of the 12 cities tracked, we have also included Vadodara Pune and Ghaziabad recorded the as an independent city. The NPI is a weighted average of lowest number of localities with a residential market of Vadodara supply and values across 11 cities drop in the average capital values. remained stable, with maximum in . Average capital values The new government has laid development in and around the across cities showed a range growth corridors such as Old bound movement. On the other special emphasis on the real estate sector in the Union Padara Road, Sama Savli Road, hand, unlike the previous quarter, Road and Gotri Road. average rental values exhibited a Budget 2014-15. drop. This resulted in a marginal With the modified version of Real rise or stable rental values in the Estate Investment Trusts (REITs), IN THIS REPORT: last six months. the development of National Property Index...... 1 100 Smart Cities, reducing the size Lack of policy favourable for the Vadodara...... 4 real estate and no reduction in the and capital requirements of home loan interest rates after the projects eligible for FDI, Annexures...... 09 formation of the new government launching affordable housing Luxury...... 10 also impacted sentiments, schemes to proposing additional contributing to the stable City tax incentives on home loan, the propindex.magicbricks.com 02 VOL4, ISSUE 1; APR-JUN, FY 2014-15

Unlike the drop of 1 per cent in the Jan-Mar 2014 quarter, the Ghaziabad City Index also remained unchanged. The Listed Price Monitor recorded a drop of 1 per cent. Unlike other parts of the Delhi-NCR, Ghaziabad posted a rise between 1-3 per cent in capital values. Lal Kaun at 11 per cent was an exception. Over 65 per cent of residential localities tracked in the city witnessed a rise in the average capital values. This arrested the fall of the City Index inspite of slow uptake in the residential market. The Mumbai City Index remained unchanged in the

Source: Magicbricks.com Apr-Jun 2014 quarter unlike the previous quarter where it NATIONAL PROPERTY INDEX single floor units and drop in the registered a rise of 1 per cent. average capital values by The Listed Price Monitor also l Except Gurgaon, all other cities 1-9 per cent contributed to the remained unaltered against the recorded growing demand of drop in the City Index. Uttam 1-5 per cent for 2BHK units Nagar in West Delhi noted the Preferred Cities - Sale maximum increase in supply, l Properties worth Rs 30-50 lakh Locality Rank followed by Safdarjung Enclave in continued to top the buyer Q1 Q4 South Delhi. Over 80 per cent of preference chart with a Mumbai 1 1 total housing demand was for marginal increase of 1 per cent apartments. With nearly Bangalore 2 2 from the previous quarter 45 per cent demand, 2BHK units Pune 3 3 l Demand for mid-segment continued to be the most preferred Chennai 4 4 properties worth Rs 50-70 lakh BHK category at the city level, Gurgaon 5 8 and premium properties worth followed by 3BHK units with Kolkata 6 6 Rs 1-2 crore rose by 6 per cent 41 per cent demand. New Delhi 7 7 l Supply of premium properties Similar to the previous quarter, Hyderabad 8 5 in 8 of the 12 cities outstripped the Gurgaon City Index rose by Ghaziabad 9 9 demand 1 per cent in the Apr-Jun 2014 quarter as well. The Listed Price Noida 10 10 The Ahmedabad City Index Monitor, on the other hand, Note: Q4 Apr-Jun 2014, Q1 Jan-Mar 2014 again dropped by 1 per cent in the remained stable, unlike the Source: Magicbricks.com Apr-Jun 2014 quarter. This was previous quarter where it Preferred Cities - Rent primarily on account of a drop in recorded a drop of 1 per cent. the capital values by 1-4 per cent No major change was recorded in Locality Rank in large number of localities in average capital values in the Q1 Q4 the city. This kept the City Index current quarter. However, the Mumbai 1 1 value intact. On the supply side, rental market showed a drop, Pune 2 2 no significant change was unlike the previous quarter. registered in the current quarter. Bangalore 3 3 South Bopal showed maximum Similar to the previous quarter, New Delhi 4 4 increase in listings. The Listed the Noida City Index showed no Chennai 5 5 change. Increase in availability of Price Monitor showed a similar Hyderabad 6 6 drop of 1 per cent. residential apartments for sale coupled with an overall stability Gurgaon 7 7 The Delhi City Index registered a in the average capital values Ghaziabad 8 10 maximum drop of 4 per cent arrested the growth of the City Kolkata 9 8 during the Apr-Jun 2014 quarter. Index. This too, kept the Listed Noida 10 9 Increase in availability of Price Monitor unchanged in the Note: Q4 Apr-Jun 2014, Q1 Jan-Mar 2014 properties on sale primarily in the current quarter. Source: Magicbricks.com VOL4, ISSUE 1; APR-JUN, FY 2014-15 03 propindex.magicbricks.com

National - Consumer Budget Preference

30% 25% 25% 21% 20% 17% 18% 15% 12% 10% 5% 5% 1% 0% 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

2 per cent rise it witnessed in the by properties in the budget range TOP YIELD GROSSERS Jan-Mar 2014 quarter. of Rs 20-40 lakh at 25 per cent. Gross yield is a ratio of average annual East and West Pune remained the Post the peace that followed the rental value to the average capital value most preferred residential Telangana decision, Hyderabad of the property. Given below are the top corridors, quarter-over-quarter. seemed to have stabilised. The yield-grossing localities in each city. No significant change was noted in residential property sector was Locality Gross yield the average capital values. The relatively subdued in the increase or drop in values was Apr-Jun 2014 quarter, as compared Bangalore, Sarjapur Road 4.97% registered between minus 4 to to the Jan-Mar 2014 quarter. The Kolkata, Banshdroni 4.78% 6 per cent, with a healthy supply. Hyderabad City Index dropped by Hyderabad, Nallagandla 4.41% This led to a 1 per cent rise in the 1 per cent, primarily attributed to Ahmedabad, Vejalpur 4.20% Pune City Index. stable property prices and infusion Chennai, OMR 3.92% of new inventories at a steady Delhi, Uttam Nagar 3.62% A 1 per cent increase was pace. This arrested the City Index registered in the Kolkata City growth. The Listed Price Monitor Noida, Sector-92 3.42% Index. Inspite of increase in the also dropped by 1 per cent as Mumbai, Parel 3.31% average capital values in majority against a drop of 3 per cent in the Pune, VL Vishrantivadi 3.18% of the localities tracked in the city, previous quarter. Ghaziabad, Indirapuram 3.01% the Listed Price monitor remained Gurgaon, Sushant Lok 2.99% unchanged. Statistics showed Bangalore City Index rose by S o u maximum residential development 1 per cent, in line with the NPI. r c

CAPITAL GAINS e :

in South and East Kolkata, With buyer sentiments in a wait- M a g i followed by North Kolkata. The and-watch mode post elections, the The table given below indicates c b r i city continued to yield higher Bangalore market has been mostly c maximum increase in capital values in k s . c rental returns of over 3 per cent, passive, resulting in little change each city. o m owing to lower base price of in property values in the current Locality % Change property and healthy rental values quarter. There was no change in in comparison to other the Listed Price Monitor. However, Ghaziabad, Lal Kuan 11.36% metropolitan cities. the rental market was subdued in Bangalore, Sahakar Nagar 10.27% the current quarter unlike the Hyderabad, Begumpet 9.20% Similar to the previous quarter, previous quarter. the Chennai City Index continued Kolkata, Narendrapur 8.46% to rise. It rose by 1 per cent yet The Vadodara City Index value Mumbai, Mulund West 7.66% again in the Apr-Jun 2014 quarter. remained unchanged during the The Listed Price Monitor reported Apr-Jun 2014 quarter. Drop in the Ahmedabad, Ghatlodia 7.46% a drop of 2 per cent in the current average capital values in areas Chennai, Anna Nagar West 6.69% quarter against a rise of 4 per cent witnessing maximum development Pune, Kalyani Nagar 5.85% in the Jan-Mar 2014 quarter. arrested the growth of the City Residential properties worth Index. This resulted in the City Noida, Sector-93A 4.75% Rs 40-60 lakh remained the most Index value remaining unchanged Delhi, Kalkaji 3.31% preferred budget category, followed in the current quarter. Gurgaon, Sector-67 2.08% VADODARA propindex.magicbricks.com 04 VOL4, ISSUE 1; APR-JUN, FY 2014-15

PROPINDEX - VADODARA Editorial Vadodara is one of the growing real estate markets in . The new residential developments are primarily concentrated on growth corridors such as Old Padara Road, Sama Savli Road, Waghodia Road, Gotri and Gotri Road. These corridors are witnessing development of the affordable segment but a healthy demand and supply was also recorded in the premium segment. Inspite of a nominal rise in the average property values in most of the Source: Magicbricks.com localities, the City Index value dropped by 1 per cent. Drop in property prices During the Apr-Jun 2014 quarter, the Vadodara City Index in Vasna-Bhaiyli Road and Gotri, with maximum supply, has pushed down remained unchanged as compared to the previous quarter. the City Index. However, the Listed Price Monitor moved up by 1 per cent Across all budget ranges, the demand during the same period. The NPI also inched up by 1 per cent for affordable to mid segment was during the quarter. highest for properties worth Rs 20-60 lakh at 78 per cent. Supply was short by 12 per cent. No significant mismatch was witnessed in any other Key Takeaways budget range, except low budget housing worth Upto Rs 20 lakh. l Drop in the average capital l Vadodara residential market Demand and supply was well values in areas witnessing offered one of the highest rental matched in the mid to premium maximum development arrested returns on investment. The city segment for properties worth the growth of the City Index. had registered a gross yield Rs 60 lakh and above. This resulted in no change in the ranging between 3.17-4.13 per Housing demand across budget City Index value cent ranges offered good investment opportunity for investors. The city l Gotri, Gotri Road, and l Seven out of ten residential witnessed one of the highest rental Vasna-Bhaiyli Road offered localities in the top ten returns in the country between maximum residential supply for preference chart for sale and rent 3.17-4.13 per cent. sale in the city. In the rental retained their ranking in the last market, , Gotri, Vasna Road six months Property type analysis of residential housing showed apartments and Old Padara Road offered consistently witnessing growing maximum availability of l In the Apr-Jun 2014 quarter, properties worth Rs 20-40 lakh demand across property buyers. residential properties on lease Supply witnessed a drop of 5 per cent. and Rs 40-70 lakh recorded equal With less than 20 per cent demand for l Rental market remained subdued demand at 39 per cent. However, residential plots, the category with majority of residential supply remained short in the continued to outstrip supply, even after pockets recording a drop in the said category with a margin of a significant drop in demand. Supply average rental values in the Apr- 4-8 per cent of residential housing outstripped Jun 2014 quarter in comparison demand by 10 per cent. to the previous quarter l One tenth of demand and supply comprised of residential housing BHK-wise demand and supply analysis clearly indicated a growing l In Vadodara city, Old Padara worth Rs 1 crore and Above. demand for 2BHK units across the Road, Sama Savli Road, Vasna Road, Akota, Alkapuri and city. However, supply remained Waghodia Road and Gotri Road Old Padara Road offered subdued and witnessed a drop of 6 are four important residential maximum number of residential per cent. Units of 3BHK were the growth corridors witnessing housing options in the said second most preferred configuration maximum residential budget range with over one third of total supply across the housing units. development l Demand for apartments recorded Demand for smaller size units saw l The city witnessed maximum an increase in preference matching supply at 7 per cent. On the rise in the average capital values quarter-over-quarter. On the other hand, larger housing formats along the growth corridors in the other hand, residential housing (4BHK and Above) witnessed an range of 4-9 per cent and plots recorded a drop oversupply with 18 per cent. VOL4, ISSUE 1; APR-JUN, FY 2014-15 05 propindex.magicbricks.com VADODARA

LISTED PRICE MONITOR RENT MONITOR

1% Source: Magicbricks.com Source: Magicbricks.com l Capital values in the city have displayed a positive l As opposed to the capital market, the rental market trend in the last three months clocking a rise of witnessed a negative trend. Several localities 1-9 per cent during the Apr-Jun 2014 quarter witnessed a drop of 5-9 per cent in rental values during the Apr-Jun 2014 quarter l Old Padara Road, Sama Savli Road and Waghodia Road witnessed the highest rise of 8-9 per cent in l Vasna-Bhaiyli Road recorded the highest drop of capital values in the city 9 per cent in the quarter. followed at a close second with a drop f 8 per cent l Localities such as Gotri Road, Atladra and Alkapuri saw a rise of 2-4 per cent in capital values during the l Fateh Ganj was the only exception. Rental values current quarter in the locality shot up by 12 per cent in the Apr-Jun 2014 quarter l Some localities that recorded a drop in values included Subhanpura, Akota, Vasna-Bhaiyli Road l As compare to the previous quarter Elora Park also and Gotri. The highest drop of 6 per cent was seen in recorded a healthy rise of 5 per cent in values Subhanpura during the current quarter

YIELD METER

Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Gotri 7.25 2,450 3.55% Akota 9.25 3,500 3.17% Old Padara Road 9.25 3,325 3.34% Vasna Road 8.50 2,900 3.52% Subhanpura 8.75 2,900 3.62% Gotri Road 7.25 2,575 3.38% Atladra 6.50 2,150 3.63% Alkapuri 11.75 3,925 3.59% Vasna-Bhaiyli Road 7.75 2,250 4.13% Source: Magicbricks.com

l The city recorded healthy rental returns across l Other localities that recorded healthy rental localities. The Magicbricks Yield Meter clocked returns included Subhanpura, Atladra, Alkapuri returns in the range of 3.17-4.13 per cent during the and Gotri. A yield of 3.55-3.63 per cent was noted in Apr-Jun 2014 quarter these locations

l Vasna-Bhaiyli Road recorded the highest rental l Akota recorded the lowest rental yield in the city returns of 4.13 per cent despite a drop of 9 per cent during the Apr-Jun 2014 quarter. A yield of 3.17 was in rental values noted in the locality VADODARA propindex.magicbricks.com 06 VOL4, ISSUE 1; APR-JUN, FY 2014-15

PREFERRED LOCALITIES

SALE RENT

Locality Rank Capital %age Locality Rank Rental %age Q1 Q4 Values change Q1 Q4 Values change Gotri 1 3 2250 to 2800 -2% Alkapuri 1 1 10500 to 14000 -10% Vasna-Bhaiyli Road 2 6 2050 to 2650 -3% Vasna Road 2 2 7500 to 10000 -6% Ajwa Road 3 1 1800 to 2200 10% Gotri 3 5 6500 to 9000 -10% Atladra 4 7 2000 to 2450 2% 4 3 7500 to 9000 -10% Waghodia Road 5 4 2000 to 2450 9% Akota 5 4 8500 to 10500 -10% Manjalpur 6 2 2750 to 3500 -1% Waghodia Road 6 10 5500 to 7000 -8% Vasna Road 7 8 2650 to 3350 1% Subhanpura 7 9 8000 to 10500 -8% Alkapuri 8 5 3650 to 4400 2% Sama 8 6 9000 to 10500 -7% Sama Savli Road 9 9 2450 to 2950 - Vasna-Bhaiyli Road 9 - 7000 to 9000 -9% Akota 10 - 3200 to 4050 -5% 10 - 8500 to 9500 -5% Note: Q1 Apr-Jun 2014, Q4 Jan-Mar 2014 Source: Magicbricks.com Note: Q1 Apr-Jun 2014, Q4 Jan-Mar 2014 Source: Magicbricks.com l The list of the top ten preferred localities saw a lot l The top two spots on the list of the most preferred of fluctuations in the last three months. Localities localities for rent remained unchanged in the last such as Gotri Road, Vasna-Bhaiyli Road and Atladra six months. Alkapuri retained its top position witnessed improved standings on the list as followed by Vasna Road compared to the previous quarter l Gotri improved its preference on the rental list as l Gotri moved up two positions to gain the number well. It moved up two spots to settle at number three one position in the current quarter l Waghodia Road jumped up four positions to settle at l Vasna-Bhaiyli Road also jumped up four spots to number six as compared to the tenth spot it held in settle at number two as compared to the second spot the previous quarter it held in the previous quarter l Subhanpura also moved up two spots from the ninth l While Atladra moved up three spots from the position to settle at number seven in the current seventh to the fourth position, Vasna Road jumped quarter up a spot to settle at number seven l Sama and Akota witnessed a drop in preference l The highest drop in preference was noted for since the last quarter. While Sama dropped from the Manjalpur. The locality dropped from the second sixth spot to settle at the eighth position, Akota spot to the sixth in the current quarter moved down from the fourth to the fifth position l Alakapuri dropped three spots to settle at the eighth l There were two new entrants on the list this quarter. position. Akota was a new entrant on the list at These included Vasna-Bhaiyli Road and Kareli Bagh number ten which settled at number nine and ten respectively

l Affordable properties below Home in your Budget Rs 20 lakh were available in , Ajwa Road, Waghodia Upto Rs 20 Lakh Gorwa, Ajwa Road, Waghodia Road, Bhayli, Subhanpura Road and Subhanpura

l Gotri, Atladra and Vasna- Rs 20-40 Lakh Gotri, Waghodia Road, Atladra, Vasna-Bhayli Road Bhayli Road recorded the maximum supply of properties in the Rs 20-70 lakh range Rs 40-70 Lakh Gotri, Vasna-Bhaiyli Road, Atladra, Alkapuri, Manjalpur l Vasna Road, Alkapuri, Akota, Rs 70-100 Lakh Akota, Old Padara Road, Ajwa Road, Race Course Circle Old Padara Road and Vasna- Bhayli Road recorded the maximum supply of high-end Rs 1 Crore & Above Vasna Road, Alkapuri, Akota, Old Padara Road properties priced above a crore Source: Magicbricks.com VOL4, ISSUE 1; APR-JUN, FY 2014-15 07 propindex.magicbricks.com VADODARA

EXPERT SPEAK Q&A Broker Improved economy, growing employment and new town planning schemes of VUDA and VMC will change Vadodara real estate market. Good infrastructure, availability of

Abhijeet Bhagwat land and well-organized engineering hub are Sunfin Reality some of the factors which are already driving Dhrumil Patel Partner the real estate here. Next 6-10 months will be Nilamber Group crucial for the town’s realty as some of the How has the city performed in the last new initiatives will get materialize and will quarter with respect to capital values in different areas? Why? impact sentiments of the buyers positively. In the Apr-Jun 2014 quarter, there was a lot of euphoria in the real estate market but there was no result on the ground. Consultant Stable capital values may be a restraint for investors but this is a right time for The budget for luxury properties is between long term end-users/investors, who Rs 1-4 crore. Only 10 per cent buyers are want to rent out their property for shorter buying this property type. The supply of these duration. Which budget ranges have done well in properties is 40 per cent more than demand. the last quarter and why?

Sanjeev Pancholi, For premium property buyers these are Residentia housing in the budegt of Associate Owner Rs 15-25 lakh and Rs 60 lakh to over BSRL second homes. They sell their smaller flats to Rs 1 crore budgets have done well. buy luxurious property. Buyers are mostly There is no demand noted from the middle class and no supply was from the corporate sector aged around 40 recorded during the said period. years. Areas to see launches of luxurious What type of property is in demand? property are Gotri, Vasna Road and . Apartments are in demand. The city is going vertical. Penthouses are also being preferred. Which areas or corridors have seen the R E A L T Y N E W S maximum launches in the last quarter? Which areas are expected to see new The real estate sector in Vadodara, one of the fastest growing Tier-II cities of launches/possession in the coming India, has touched new heights. Today, it is among the most preferred months? destinations for real estate investment in Gujarat. Not only affordable, but Maximum launches in the city have demand and supply in the luxury segment is also increasing in the key areas. taken place in the residential areas along ‘Affordable’ Vadodara gets a taste of luxury housing the Vasana-Bhayli Road, Sun Pharma Road and the Waghodia- Ring Largely dominated by affordable housing, Vadodara is now offering a chance to live a Road. In the coming months, new luxurious life to those who can afford it. Several residential properties that were tagged launches are expected to witness along at Rs 1 crore and above are being made available in localities such as Alkapuri, Vasna the areas such as Bil Road and New Road, Old Road and Gotri, according to the Magicbricks data. One can find 3 and Alkapuri. 4BHK multi-storey apartments, villas and independent houses in the price range of Rs 1-3 crore in these localities. Any new infrastructure project that had an impact on the real estate market in n Magicbricks.com Bureau the last few months or is expected to impact the market in the coming Gotri: A fast developing realty market in Vadodara months? If you are looking to buy a home in Vadodara but are confused as to which locality you There was a huge impact on the real must choose, Gotri is an area to consider. It is not only developing fast in terms of social estate market after the opening of and physical infrastructure, but is also seeing a significant growth in the residential flyovers on the Vasana-Bhayli Road. The sector as well. The locality, situated 4-km west of Vadodara city, was once considered a Outer Ring Road (ORR) in the city has small village situated in the outskirts of the city, is now being considered a developing also made a huge impact. Few counterpart of Alkapuri. upcoming flyovers will open up new n Magicbricks.com Bureau corridors within a year. To read full story and more news go to www.content.magicbricks.com VADODARA propindex.magicbricks.com 08 VOL4, ISSUE 1; APR-JUN, FY 2014-15

DEMAND - SUPPLY ANALYSIS Buyers in Vadodara continued to favour apartments in the Apr-Jun 2014 quarter, which led to a significant increase of 8 per cent in its demand. Supply of residential houses led its demand by 10 per cent. High demand for the 2 and 3BHK categories was registered in the city, in the current quarter, which was more or less met by its supply. The city registered an equal demand for properties in the Rs 20-40 lakh and Rs 40-70 lakh categories, though their supply remained low. An oversupply was witnessed in the Upto Rs 20 lakh category. Demand and supply was synonymous for properties worth Rs 70 lakh and Above in the current quarter. Budget wise Analysis Budget wise Analysis - City Level l Equal demand of 39 per cent was DEMAND SUPPLY registered for the Rs 20-40 lakh and (Jan-Mar 2014) (Jan-Mar 2014) Rs 40-70 lakh categories, with both 50 50 44 (Apr-Jun 2014) (Apr-Jun 2014) categories noting an undersupply. 39 39 ) ) 40 40 S While supply for the Rs 20-40 lakh % % o ( (

35 35 u e e

33 33 r g g

31 c

e was 35 per cent, it was 31 per cent a a t t :

n 30 n 30 M e e c c a for the Rs 40-70 lakh category r r g e e i c p p

20 20 b n n r i i i

1 3 c s s 12 12 l Negligible demand was noted for 11 11 11 11 k e e 10 10 s r r . u u 10 8 10 c o g g Upto Rs 20 lakh category, while i i m F 2 1 F supply was at 11 per cent. Demand 0 0 <20 20-40 40-70 60-100 100 & <20 20-40 40-70 60-100 100 & and supply for the Rs 70-100 lakh above above and Rs 1 crore and Above Figures in Rs lakh Figures in Rs lakh categories was synonymous

Property wise Analysis Property wise Analysis - City Level l Demand for apartments in DEMAND SUPPLY Vadodara saw an 8 per cent rise in 80 80 the Apr-Jun 2014 quarter and stood (Jan-Mar 2014) (Jan-Mar 2014) at 64 per cent. Supply for the same 64 (Apr-Jun 2014) 62 (Apr-Jun 2014) ) ) S

% % registered a drop of 5 per cent to ( ( o e e 60 56 60 57 u g g r c a a remain at 57 per cent t t e n n :

e e M c c r r a e e g p p 40 40 i l Residential houses recorded c 36 b n n i i r 29 31 i s s 26 c 26 per cent demand, a drop of k e e r r s u u . c g g

i i 3 per cent. Supply for the same led o F F 20 20 m 15 10 demand by 10 per cent and stood at 77 36 per cent. Demand for plots was 0 0 Apartment Residential House Residential Plot Apartment Residential House Residential Plot 10 per cent and supply at 7 per cent

BHK wise Analysis - City Level BHK Configuration - City Level l The 2 and 3BHK categories DEMAND SUPPLY continued to remain the most 60 60 demanded and supplied BHK 53 (Jan-Mar 2014) (Jan-Mar 2014) configurations in Vadodara. (Apr-Jun 2014) (Apr-Jun 2014) ) ) 50 48 50 % %

S Together they noted 86 per cent ( ( 44 o e e u g g r a a demand and 75 per cent supply t t 38 40 40 37 c e n n 34 : e e

33 34 c c M r r a e e g p p l Demand and supply for 1BHK units

30 30 i c n n i i b

r s s remained matching at 7 per. The i c e e r r 18 k u u 20 20 s g g . i i 4BHK and Above category c o F F 10 m 10 7 8 7 10 11 7 11 witnessed an oversupply with 18 per cent availability while the 0 0 1BHK 2BHK 3BHK 4BHK & 1BHK 2BHK 3BHK 4BHK & demand was merely 7 per cent, above above a mismatch of 11 per cent VOL4, ISSUE 1; APR-JUN, FY 2014-15 09 propindex.magicbricks.com VADODARA

CAPITAL VALUES – LOCALITY WISE VADODARA Average Listed Residential Apartment Prices

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

Ajwa Road 1800 to 2200 New Alkapuri 2300 to 2800 Akota 3200 to 4050 Nizampura 2650 to 3550 Alkapuri 3650 to 4400 Old Padara Road 3000 to 3900 Atladra 2000 to 2450 Race Course circle 3450 to 4450 Bhayli 2000 to 2450 Sama 2700 to 3450 Elora Park 2950 to 3500 Sama Road 2800 to 3400 Gorwa 2450 to 2900 Sama Savli Road 2450 to 2950 Gotri 2250 to 2800 Sevasi 2300 to 2650 Gotri Road 2400 to 2900 Subhanpura 2700 to 3250 Kalali 2100 to 2650 Vasna Road 2650 to 3350 Karelibaug 3050 to 3650 Vasna-Bhaiyli Road 2050 to 2650 Manjalpur 2750 to 3500 Waghodia Road 2000 to 2450

Source: Magicbricks.com propindex.magicbricks.com 10 VOL4, ISSUE 1; APR-JUN, FY 2014-15

Luxury takes centre stage in Indian cities cross India, luxury the category. In most big cities, properties have seen a luxury demand came from IT and Arising demand. However, Manufacturing professionals with developers in most cities looking for premium lifestyles choosing to build heavily in this near their place of work. It came segment, the luxury market packaged with premium asset continued to be over-supplied. quality, safe gated communities, In smaller cities such as Vadodara, lifestyle features such as jogging local demand from industrialists, tracks, swimming pools, sports in the 40-year age group seeking to facilities and well planned upgrade lifestyle, drove demand in landscaping. A key component of

DELHI NOIDA DEMAND 2-2.3 cr 2.3-3 cr 3-4 cr 4-5 cr 5 & DEMAND 1-1.4 cr 1.4-2 cr 2-3 cr 3-5 cr 5 cr & Above Above East 33% 22% 27% 6% 12% New developing sectors 60% 20% 9% 9% 3% North 28% 21% 26% 9% 16% Noida Gr Noida Expway 36% 33% 18% 10% 3% South 11% 19% 30% 11% 29% Old Noida 38% 24% 15% 16% 7% West 39% 21% 19% 6% 15% City 42% 28% 15% 11% 4% City 20% 20% 27% 9% 24% SUPPLY SUPPLY New Developing Sectors 62% 14% 13% 6% 5% East 25% 31% 15% 9% 20% Noida Gr Noida Expway 38% 24% 18% 11% 9% North 14% 18% 26% 14% 28% Old Noida 22% 17% 18% 23% 20% South 4% 9% 17% 15% 55% City 36% 21% 18% 13% 12% West 34% 29% 16% 7% 14% Source: Magicbricks.com City 8% 12% 17% 14% 49% Source: Magicbricks.com MUMBAI DEMAND 2-2.3 cr 2.3-3 cr 3-4 cr 4-5 cr 5 cr & GURGAON Above DEMAND 2-2.3 cr 2.3-3 cr 3-4 cr 4-5 cr 5 cr & Central Line 31% 24% 19% 11% 15% Above Central Mumbai 14% 17% 32% 14% 23% Dwarka Expressway 30% 29% 29% 1% 11% Harbour Line 19% 22% 22% 9% 28% Golf course Extn Rd 26% 16% 25% 11% 22% Navi Mumbai 39% 16% 27% 8% 10% New Developing Sectors 48% 22% 26% 3% 1% South Mumbai 7% 7% 17% 11% 58% New Gurgaon 24% 25% 25% 10% 16% Thane 41% 21% 29% 4% 5% Old Gurgaon 27% 20% 24% 9% 20% Western Suburbs 24% 26% 23% 9% 18% Sohna Road 42% 24% 23% 5% 6% City 24% 24% 22% 9% 21% City 27% 23% 24% 10% 16% SUPPLY SUPPLY Central Line 25% 33% 19% 5% 18% Dwarka Expressway 26% 30% 15% 8% 21% Central Mumbai 8% 21% 20% 11% 40% Golf course Extn Rd 14% 22% 27% 11% 26% Harbour Line 17% 30% 26% 10% 17% New Developing Sectors 64% 26% 2% 1% 7% Navi Mumbai 25% 27% 24% 7% 17% New Gurgaon 16% 23% 22% 13% 26% South Mumbai 3% 6% 9% 7% 75% Old Gurgaon 15% 35% 25% 9% 16% Thane 28% 36% 19% 5% 12% Sohna Road 37% 34% 13% 9% 7% Western Suburbs 19% 25% 18% 13% 25% City 18% 24% 22% 11% 25% City 16% 24% 18% 10% 32% Source: Magicbricks.com Source: Magicbricks.com VOL4, ISSUE 1; APR-JUN, FY 2014-15 11 propindex.magicbricks.com

luxury development has been modern units which are built on efficient concierge services, re-developed old plotted layouts. premium brand tie-ups and The buyers are the traditional predictive facilitations. wealthy citizens of the city who Luxury in the suburbs has been are upgrading to modern around for a while. But in the past apartment living within localities six months luxury demand has in their comfort zone. The quality re-entered CBD (Central Business of assets supercedes the packaged District) areas which are under lifestyle features in these areas. re-development. A clear case is Location contributes to a large Bangalore and Chennai where part of the values of these traditional downtown premium properties. areas such as MG Road and Adyar As users go online to seek luxury are posting both supply and robust property, PropIndex acknowledges demand for extremely high-priced this as a significant segment.

PUNE HYDERABAD DEMAND 1-1.2 cr 1.2-1.6 cr 1.6-2.0 2-4 cr 4 cr & DEMAND 1-1.4 cr 1.4-2 cr 2-3 cr 3-5 cr 5 cr & cr Above Above Central 10% 27% 16% 21% 26% East 48% 20% 19% 5% 8% East 31% 35% 11% 17% 6% North 57% 28% 11% 2% 2% North 38% 28% 7% 19% 8% South 51% 24% 11% 8% 6% South 31% 35% 11% 19% 4% West 37% 25% 12% 13% 13% West 31% 37% 10% 17% 5% City 40% 25% 12% 12% 11% City 31% 36% 11% 16% 6% SUPPLY SUPPLY East 53% 22% 7% 13% 5% Central 4% 13% 12% 41% 30% North 29% 33% 24% 11% 3% East 27% 31% 11% 19% 12% South 16% 18% 25% 28% 13% North 21% 33% 10% 26% 10% West 26% 20% 25% 15% 14% South 25% 24% 19% 22% 10% City 27% 21% 23% 17% 12% Source: Magicbricks.com West 27% 26% 14% 23% 10% City 26% 27% 13% 22% 12% BANGALORE Source: Magicbricks.com DEMAND 1-1.4 cr 1.4-2 cr 2-3 cr 3-5 cr 5 cr & Above Central 29% 30% 17% 15% 9% CHENNAI East 43% 31% 14% 7% 5% DEMAND 1-1.4 cr 1.4 -2 cr 2-3 cr 3-5 cr 5 cr & North 38% 29% 18% 10% 5% Above South 44% 26% 15% 8% 7% Central 33% 24% 17% 15% 11% West 40% 27% 17% 9% 7% North 37% 37% 13% 7% 6% City 42% 29% 14% 9% 6% South 41% 24% 15% 9% 11% SUPPLY City 38% 27% 15% 10% 10% Central 16% 20% 19% 17% 28% SUPPLY East 34% 24% 20% 12% 10% Central 20% 23% 20% 14% 23% North 34% 28% 21% 11% 6% North 25% 27% 18% 13% 17% South 30% 27% 21% 14% 8% South 28% 21% 17% 17% 17% West 35% 30% 20% 11% 4% City 25% 23% 18% 15% 19% City 32% 26% 21% 12% 9% Source: Magicbricks.com Source: Magicbricks.com

propindex.magicbricks.com VOL4, ISSUE 1; APR-JUN, FY 2014-15

CONTACT US PROPINDEX TEAM

l Post your feedback to - l Content & Research: E Jayashree Kurup, propindex @timesgroup.com Dipti Tandon, Subodh Kumar, Rishab Jain, Kanchana Dwarkanath, Sruthi Kailas, l Join our discussion forum at - Bhawna Mongia, Ankit Sharma, Renu Arya, openhouse.magicbricks.com Aradhana Mozumdar, Girish Bindal, Neha Nagpal, Surbhi Gupta, Neha Singh Verma, Puneet Kukreja & l For business enquiries - Bikash Kumar [email protected] l Layout Design: Harsha Khattar

l Cover Page Design: Raghav Krishnan & Rahul Nair

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.