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PropIndex | Magicbricks Thane July-Sep 2020

Residential Market Insights Market Dynamics

Parameters India Thane Thane residential market driven by improving infrastructure and connectivity to Mumbai Demand+ 53.1% 43.8% With augmented searches to the tune of 44% QoQ in Q3 2020, against a 33% dip in Q2, Thane continued to be one of Supply++ -9.1% -29.2% the most favoured real estate destinations in the Mumbai Metropolitan Region (MMR).Thane witnessed marginal Price Index+++ 0.3% 1.0% price growth of 1% in Q3 2020, following a decline of 0.6% in Q2 2020. Notes: Above parameters represent QoQ change in Q3 2020 at The state government has decided to slash the stamp duty to 3% (from 6% earlier), while the Maharashtra Chamber India and city level of Housing Industry (MCHI) Kalyan Unit has decided to waive oﬀ the remaining 3% stamp duty. Additionally, the + change in volume of property searches ++ change in volume of active listings various oﬀers and discounts by the developer-members of NAREDCO, which may boost the buyers' sentiment and +++ change in the weighted average price would provide impetus for residential demand in the future. Source: Magicbricks Research

Ready to Move Price Index Key Developers based on active "The Ready-to-move listings 9,000 segment witnessed a Lodha Group #

t Kalpataru # f price growth of 3% q s

r Runwal Developers # e 8,000 YoY due to shift in p

R Puranik Builders # N

I buyers' preference

e Hiranandani Group # c i

r towards ready P Rustomjee # e

g properties"

a 7,000

r Dosti Realty # e v A Raunak Group #

5 Years YoY QoQ Piramal Realty # 6,000 Mohan Group # 6 7 8 9 0 1

1 1 1 1 2 2 8.1% 3.3% 1.0% 0 0 0 0 0 0 2 2 2 2 2 2

Notes: Note: The above table represents the top developers by 1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on Sep 2020 share of active listings on Magicbricks website in Q3 2. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research 2020 Source: Magicbricks Research

Under Construction Price Index Key Projects "Prices for Project Name Locality 9,000 under-construction segment remained Lodha Amara Kolshet Road t f

q Lodha Splendora Ghodbunder Road s relatively ﬂat QoQ, on r

e 8,000 Hiranandani Meadows Manpada p

R the back of high Lakeshore Greens Palava N I

c availability of unsold Dosti Imperia Manpada i r P

e units" Sheth Avalon Majiwada

g 7,000 r

e One Hiranandani Park Hiranandani Estate v A Rustomjee Urbania Majiwada 5 Years YoY QoQ Piramal Vaikunth Balkum village 6,000 Acme Ozone Ghodbunder Road 6 7 8 9 0 1 23.8% 0.4% 0.5% 1 1 1 1 2 2

0 0 0 0 0 0 Regency Anantam Dombivli East 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 Sep 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 Q3 2020 Source: Magicbricks Research Source: Magicbricks Research

Average changes in prices for localities in various price segments In the News

< 5,000 5,000-9,000 9,000-13,000 > 13,000 - According to secondary sources, 2.6% Maharashtra Govt. may reduce the Ready Reckoner rates by October 2020, 1.5% 1.3% "No signiﬁcant trend along with about 10-15% reduction in FSI Premiums payable by builders. This 0.6% visible for price changes may help in reducing the prices of 0.2% across ready-to-move homes. and under-construction -0.3% -0.3% - The Lodha Upper Thane project in categories" Bhiwandi received ﬁnal approval to be funded under The SWAMIH Fund set up by the government for stressed real -1.8% estate projects. This would help in RM UC RM UC RM UC RM UC timely completion of the said project.

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 Sep 2020 Source: Magicbricks Research

Thane market thriving on developed Demand dominated by 2BHK and 1 BHK conﬁgurations infrastructure and mature buyers

Following a similar trend as in the MMR, searches DEMAND SUPPLY for mid-sized homes such as 2BHK exceeded those Above 3 BHK Above 3 BHK for 1 BHK. The share of 1BHKs shrunk from 52% in 2% 2% Q2 2020 to 40% in Q3. 3 BHK 3 BHK 14% 1 BHK 14% 1 BHK With most of the service-sector population 40% 37% working from home (WFH) since March 2020, buyers in Thane were seen increasingly opting for apartments with more than one bedroom.

"Buyer preferences shifting from 1 BHK 2 BHK 2 BHK to 2 BHK in Thane" 43% 47%

In addition, stamp duty relief, discounts and Notes: freebies, reduced home loan interest rates and 1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration 2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by BHK configuration flexible payment offers were influential in Source: Magicbricks Research improving buyer sentiment over the quarter ending September 2020. Demand as well as supply concentrated in areas between INR 5,000-13,000 per sqft - According to Magicbricks research, the share of property searches for affordable localities such as DEMAND SUPPLY Badlapur, Ambernath, Titwala and Ulhasnagar dropped significantly to 22% in Q3 2020 against > 13,000 < 5,000 41% in Q2 2020, owing an overall employment > 13,000 < 5,000 16% 15% uncertainty with the low- and mid-income 17% 22% population.

- As per our data, the demand for localities priced in the INR 5,000-13,000 per sqft range, including Dombivli, Kalyan, Ghodbunder Road, Pokhran Road, Kasarvadavali and Kolshet, among others, 9,000-13,000 9,000-13,000 5,000-9,000 increased by 15% QoQ. Most likely due to the fact 30% 5,000-9,000 32% that more buyers are choosing the convenience of 37% 32% better social amenities and connectivity to employment hubs over lower prices in farther localities. Notes: 1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by price buckets

Source: Magicbricks Research

Top Micromarkets by Consumer Searches Propensity of demand and supply in terms of searches and Demand/Supply listings by localities Supply Micro Market Price Range Rank Rank Q3-20 Q2-20

Ghodbunder Road 6900-13100 1 1

Majiwada 8100-13600 2 4

Dombivali 4600-8800 3 3

Kalyan 3500-8000 4 5 Ambernath-Badlapur 3200-5200 5 2

Kolshet 8900-14300 6 6 Khadipar Road

Western Thane 8800-20000 7 7 Titwala Note: 1. Top micro-markets of the city, ranked by number of searches on Bhiwandi Magicbricks in Q3 2020 2. Price ranges represent the range of avg locality prices in the micromarket in INR per sqft. Source: Magicbricks Research Ghodbunder Road Shahad Kolshet Road Top Micromarkets by active listings Kalyan West Kasheli Kalyan East Micro Market Price Range Rank Rank Thakurli Ulhas nagar Q3-20 Q2-20 Majiwada Ghodbunder Road 6900-13100 1 1 Kalwa SonarD Poamdbaivli East Majiwada 8100-13600 2 2 Mumbra Diva Ambernath West Dombivali 4600-8800 3 3 Thane East

Kolshet 8900-14300 4 4 Kalyan 3500-8000 5 5

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 Q3 2020 properties in the localities on Magicbricks website in Q3 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

Q3 2020 | Price Changes in Key Localities

Khadipar Road

Titwala 2.4% Bhiwandi 7.5%

Ghodbunder Road 2.8% Shahad

Kalyan West 1.2% Kasheli Kalyan East 0.0%

Majiwada Parsik Nagar -5.0% Dombivli East Kalwa 0.2% -2.1% Diva Mumbra -5.6% -7.5% Ambernath West Thane East 0.5%

Badlapur East 1.6%

Note: 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q3 2020 2. Color of the bubble represents price change in Q3 2020, with green color representing price increase and red color price decrease. -7.5% -5% -2.5% 0% 2.5% 5% 7.5% 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.

- The price growth was concentrated in central Thane areas including Kasarvadavali, Patlipada, Kavesar, Pokhran Road, Ghodbunder Road and Vartak Nagar, which witnessed price increments in the range of 3-7%.

- Prices in aﬀordable localities including Ambernath, Badlapur, Titwala, Palava, Kalyan East and Shilphata remained ﬂat on account of sluggish demand

Source: Magicbricks Research

< INR 5,000 psf INR 5,000-9,000 psf INR 9,000-13,000 psf > INR 13,000 psf

Locality Avg. Price Locality Avg. Price Price Locality Avg. Price Locality Avg. Price Price Price Change Change Price Change Change

Neral 3,577 7.5% Bhiwandi 5,212 7.5% Hiranandani Estate 12,711 7.5% Bhayanderpada 10,195 7.5% Naupada 15,973 -1.5% Boisar 3,195 3.2% Dombivli West 7,328 6.5% Kasarvadavali 9,377 6.9% Badlapur West 3,917 2.9% Thakurli 7,331 2.2% Patlipada 12,972 6.2% Titwala 4,396 2.4% Dombivli 6,400 1.4% Dhokali 11,273 5.4% Pokhran Road 13,008 3.4% Ambernath East 4,401 2.3% Kavesar 10,583 4.9% Kalyan 6,374 1.3% Ambernath 4,287 2.0% Anand Nagar 9,938 4.3% 6,668 1.2% Kalyan West Ghodbunder Road 10,482 2.8% Teen Hath Naka 14,933 -7.5% Badlapur East 3,957 1.6% Shilphata 6,133 1.0% Vartak Nagar 12,313 2.5% Badlapur 3,921 1.3% Kolshet Road 11,569 0.9% Dombivli East 6,165 0.2% Ambernath West 4,106 0.5% Waghbil 10,131 0.7% Kalyan East 5,627 0.0% Palghar 3,398 0.0% Vasant Vihar 12,961 0.5% Manpada 11,717 -0.7% Diva 4,741 -5.6% Palava 5,786 -1.4% Thane West 11,560 -3.1% Mumbra 3,339 -7.5% Owale 8,829 -2.0% Kapurbawdi 12,062 -3.7% Karjat 3,324 -7.5% Kalwa 8,974 -2.1% Majiwada 11,047 -5.0%

Note: 10,440 -5.1% 1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q3 2020. This is an interactive table available on Magicbricks.com under Propindex section. 12,864 -5.2% 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 categorize the localities in various price buckets. 4. The color of the numbers represent the price change in Q3 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

For more information and research related queries, please contact:

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research Analyst [email protected] [email protected] [email protected] [email protected]

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.