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PropIndex | Magicbricks Pune Apr-Jun 2020

Residential Market Insights Market Dynamics Industrial development and public transport driving growth to peripheral areas of Pune Parameters India Pune

Pune residential prices have mostly remained stagnant in the last 5 years, as the city's real estate market moved to Demand+ -27% -39% its peripheral areas due to industrial development,connectivity, and affordability. Supply++ -43% -53% Price Index+++ -1.5% -1.6% City's prices declined marginally by about 1.6% in Q2 2020 primarily due to COVID-19 impact. However, the market performed relatively well in comparsion with other major cities in India, witnessing ~700 property registrations Notes: Above parameters represent QoQ change in Q2 2020 at within a week of opening the registration offices post the lockdown. Additionally, a specialized program run by India and city level NAREDCO since last month, to train and employ workers from nearby areas in Pune, helped resuming construction + change in volume of property searches ++ change in volume of active listings activities affected by lockdown. This would help maintain supply of housing units and meet the MahaRERA deadlines. +++ change in the weighted average price

Source: Magicbricks Research

Ready to Move Price Index Key Developers based on active listings 8,000 Kolte-Patil Developers "Price of ready-to-move Godrej Properties 7,000 (RM) segment grew Kumar Properties t f

q just 3.5% in the last 5 s

Pride Purple Properties r e p 6,000 years" Marvel Realtors R N I

e VTP Realty c i r P Paranjape Schemes Construction e

g 5,000 a

r Mantra Properties e

v 5 Year A Change Nyati Group 4,000 YoY QoQ Goyal Ganga Group 4 5 6 7 8 9 0

1 1 1 1 1 1 2 3.5% -1.9% -1.6% 0 0 0 0 0 0 0

2 2 2 2 2 2 2 Note: The above table represents the top developers by Notes: share of active listings on Magicbricks website in Q2 2020 1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on June 2020 2. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research Source: Magicbricks Research

Under Construction Price Index Key Projects

8,000 "Development in Project Name Locality

mostly the peripheral Nanded City Sinhagad Road

7,000 areas has kept Lodha Belmondo Mumbai Pune Hwy t f q s

under-construction Rohan Mithila Viman Nagar r e p prices ﬂat in the long Xrbia Hinjewadi Hinjewadi R 6,000 N I Little Earth Ravet e term" c i r P

Life Republic Hinjewadi e

g 5,000 a

r Bhavani Park Society Aundh e v 5 Year A Madhukosh Sinhagad Road 4,000 Change YoY QoQ Hari Ganga Vishrantwadi 4 5 6 7 8 9 0

1 1 1 1 1 1 2 1.3% -1.2% -1.4% 0 0 0 0 0 0 0 Marvel Zephyr Kharadi 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 June 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 Q2 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 per sqft) - Reduction in stamp duty by 1% in Pune < 5,000 5,000-7,500 7,500-10,000 > 10,000 from April 2020 till March 2022, to encourage home buying -0.1% "Prices in the -0.3% - Large investments in industrial and established suburbs logistics sectors are expected in Pune, -0.6% under the freshly launched 'Made In -0.9% and upmarket areas Maharashtra' campaign. This is decline by 1.5%- 2.5% expected to specially beneﬁt the -1.3% -1.5% peripheral areas such as Talegaon and -1.6% QoQ, while prices in Chakan. other areas remained - Upcoming metro lines and ring road to ﬂat" enhance connectivity to peripheral areas of Wagholi, Nanded, Pirangut, -2.6% Khed Shivapur, and Loni Kalbhor; further RM UC RM UC RM UC RM UC increasing demand in these areas. Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various price buckets as on June 2020 Source: Magicbricks Research

Industrial development driving Demand shifting to 1BHK conﬁgurations demand to peripheral areas

Pune has a balanced market, with demand in line DEMAND SUPPLY with the supply, for most of the BHK Above 3 BHK Above 3 BHK 1 BHK conﬁgurations. Pune market is well distributed 5% 1 BHK 4% 18% across aﬀordable and mid segments, with 2 BHKs 3 BHK 27% having the largest share of the demand and 21% 3 BHK supply, while 1 and 3 BHKs contribute almost 25% equally to the pie.

"2 BHK in the price range of INR 2 BHK 2 BHK 5,000 and 7,500 per sqft, 47% 53%

continues to be Pune's dominant Notes: 1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by Bedroom, Hall, Kitchen (BHK) conﬁguration property search criterion" 2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by BHK conﬁguration Source: Magicbricks Research

- There was a rise in demand for peripheral localities priced below INR 5,000 per sqft such as Dhanori-Lohegaon, Talegaon, Chakan, Wagholi, Demand-supply matchs across all price brackets Handewadi, Vadgaon Budruk, and Hinjewadi Phase 3 due to growing industrial and IT/ITeS DEMAND Price buckets in INR per sqft SUPPLY Price buckets in INR per sqft presence surrounding these areas, along with planned infrastructure projects to ease > 10,000 > 10,000 connectivity. 8% 6% 7,500-10,000 7,500-10,000 < 5,000 < 5,000 15% 16% 29% - Localities surrounding IT/ ITeS hubs, such as 36% Magarpatta, Baner, Bhosari, Yerwada, Kharadi, and Aundh which are priced in the range of INR 5,000-10,000 per sqft, made up around two-thirds of the total demand. These localities represent prominent suburbs of Pune, and would continue to witness high demand in the near future, owing to an expected recovery in the IT 5,000-7,500 5,000-7,500 and telecom sector amongst others, post the 41% 49%

Covid crisis. . Notes: 1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q2 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 Q2-20 Q1-20 Chakan Hadapsar 3900 - 10100 1 2 Airport Road 5200 - 12050 2 1 Dhayari-Narhe 3250 - 8000 3 5 Baner 5250 - 9250 4 4 Kondhwa-Wanwadi 4400 - 10900 5 3 Paud Road 4650 - 12350 6 6 Chikhali Wakad 5200 - 8950 7 7 Moshi Ravet Note: 1. Top micro-markets of the city, ranked by number of searches on Pimpri Bhosari Magicbricks in Q2 2020 2. Price ranges represent the range of avg locality prices in the micromarket in INR per sqft. Source: Magicbricks Research Hinjewadi Top Micromarkets by active listings Wagholi

Micro-Market Price Range Rank Rank Sus Q2-20 Q1-20 Pashan

Baner 5250 - 9250 1 2 Bhugaon Hadapsar 3900 - 10100 2 4 Hadapsar Airport Road 5200 - 12050 3 1 Sinhagad Road Wakad 5200 - 8950 4 5 Undri Hinjewadi 4250 - 6750 5 6 Dhayari Katraj Undri-Pisoli 3550 - 7450 6 7

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 Q2 2020 properties in the localities on Magicbricks website in Q2 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

Q2 2020 Price changes for the city's major localities

Talegaon Dabhade -1.4%

Dehu Road -1.9% Chikhali Alandi Gahunje 0.5% Moshi 1.7% 0.5% -2.2%

Bhosari Pimpri Charholi Budruk 2.4% -6.5% 3.1%

Hinjewadi Phase 3 Wagholi -3.7% 2.3% Aundh Sus 1.2% -0.8%

Manjri Pirangut Camp 2.0% 2.2% Bhugaon -5.5% -1.1% Loni Kalbhor Phursungi -3.7% Shivane -4.0% 0.3% Pisoli Dhayari Katraj -1.8% 1.1% -1.1% © OpenStreetMap contributors

Note: -7.5% 7.5% 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 2020 2. Color of the bubble represents price change in Q2 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.

- Localities around IT hubs such as Magarpatta, BT Kawade Road, Shivajinagar, Vishal Nagar, Baner Road, and Yerwada and other prominent localities such as Wagholi, Pirangut, Warje and Dhankawadi witnessed marginal price increment.

- Most of the localities along the Mumbai Highway such as Wakad, Hinjewadi, and Pimple-Saudagar witnessed a price decline in Q2 2020. Source: Magicbricks Research

< INR 5,000 psf INR 5,000-7,500 psf INR 7,500-10,000 psf > INR 10,000 psf

Avg. Price Avg. Price Avg. Price Avg. Price Locality Locality Locality Locality Price Change Price Change Price Change Price Change Chakan 3,518 -2.0% Chikhali 5,000 0.5% B.T Kawade Road 7,520 1.0% Sadashiv Peth 10,011 -6.7% Loni Kalbhor 3,588 -3.7% Marunji 5,034 -0.9% Baner 7,595 -1.6% Talegaon Dabhade 3,991 -1.4% Charholi Budruk 5,108 3.1% Pimple Nilakh 7,690 2.2% Koregaon Park 10,871 -1.9% Raghav Nagar 4,014 -7.0% Paud Road 5,109 1.1% Wanwadi 7,714 -2.6% 12,094 -5.6% Pirangut 4,121 2.2% Kondhwa Budruk 5,123 -7.5% Bibwewadi 7,715 -5.1% Erandwane Alandi 4,225 1.7% Lohgaon 5,127 -2.7% Baner-Pashan Link Rd 7,764 -1.1% Model Colony 12,574 0.2% Shivane 4,344 0.3% Dhayari Phata Rd 5,148 -2.2% Amanora Park Town 8,016 -1.7% Pisoli 4,354 -1.8% Mamurdi 5,160 -2.5% Yerawada 8,016 4.2% Shivaji Nagar 12,644 2.2% Handewadi 4,421 3.1% Manjri 5,205 2.0% New Kalyani Nagar 8,239 -1.5% Handewadi Road 4,519 -1.7% Katraj Kondhwa .. 5,219 -2.3% Market Yard 8,280 2.4% Karve Road 13,098 -1.6% Vadgaon Budruk 4,608 2.8% Dhankawadi 5,242 2.7% Viman Nagar 8,301 0.9% Boat Club Road 13,117 -7.5% Phursungi 4,657 -4.0% Ambegaon Budruk 5,249 0.5% Magarpatta City 8,454 1.7% Law College Narhe 4,687 -2.1% Manjri Budruk 5,271 -2.4% Gangadham Road 8,472 5.4% 13,733 -5.5% Road Kiwale 4,729 -2.8% Hinjewadi Phase 3 5,274 -3.7% Camp 8,761 -5.5% Sasane Nagar 4,824 -1.2% Punawale 5,349 -2.3% Gultekdi 9,059 3.4% Prabhat Road 14,939 -1.0%

NMotoe:shi 4,827 -2.2% Gahunje 5,377 0.5% Ghorpadi 9,081 -4.1% 1. Above is the list of major localit4ie,s8 o6f 7the city,1 w.i1th% information about their average prices and QoQ price changes in Q2 2020. This is an interactive table 9av,1ai7la6ble on M1a.2gi%cbricks.com under Propindex section. 2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder ﬂoor segment, after removing the outlier properties that might distort the overall prices. 3. The four tables above categoriz4e ,t8he7 l0ocalities2 i.n3 v%arious price buckets. 9,299 1.7% 4. The color of the numbers represent the price change in Q2 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research 4,972 0.3% 9,615 -1.2% For more information and4 r,e9s9e6arch -r2e.l2a%ted queries, please contact: 9,683 -1.3% 4,998 -1.9% 9,697 -7.5% Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research Analyst 9,785 -6.2% [email protected] [email protected] [email protected] [email protected] 9,994 -1.4% 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.