INSITE

DELHI NCR RESIDENTIAL MARKET UPDATE JULY - SEPTEMBER 2020

Market Sentiment WHAT’S INSIDE?

• Impact of COVID-19 on Indian Real Estate • National Outlook Snapshot of real estate ambience across top 8 metro cities • Market Movers News that impacted NCR’s realty market in Jul-Sep 2020 • Commercial real estate outlook • Residential demand and supply dynamics • 99acres’ Outlook Our perspective on the current market sentiment • Key trends in the buying and renting landscape • Price trends across key micro-markets

FROM CBO’S DESK

The Jul-Sep 2020 quarter set the pace for the recovery of Indian developers have further fueled the penchant for ready or near-ready residential real estate market. Post an initial lull in sales and new housing units. There seems to be a newfound demand for independent launches in the previous quarter, the current quarter came as a breather houses and builder floors, which offer increased privacy and scope for as sales resurged by almost 2.5 times of the pre-COVID levels. Both Delhi social distancing, as opposed to residential apartments. NCR and Mumbai saw a significant improvement in transactions, QoQ, as end-users flocked to leverage the lucrative deals floating in the market. A gradual improvement in the realty market was also evident from the Price correction, unlike anticipated, remained a far cry; however, with owner listings posted on 99acres, which went up by seven percent against a negotiation window of up to 10-15 percent, the deals closed in at a the pre-COVID times. Buyer responses also reported a 30 percent surge in reduced price of 2-5 percent of the pre-COVID levels. the same time period.

New launches went up, QoQ, but remained lower than the previous year. On the policy framework front, a fiscal stimulus of Rs 10,000 crore for Majority of the developers focused on completing the ongoing projects, Maneesh Upadhyaya stuck realty projects, along with the sustenance of Repo Rate at four which were stuck during the nationwide lockdown. While work on Chief Business Officer percent, an all-time low, are likely to push the market towards a revival almost all housing projects resumed in the current quarter, a lot of them 99acres.com in the ensuing quarters. The upcoming festive season may see a further continue to face delays spanning quarters. Liquidity constraints with the improvement in the absorption of residential units, across cities. COVID-19 AND REAL ESTATE NATIONAL OUTLOOK

IMPACT ON HOMEBUYERS IMPACT ON INDUSTRY HOME BUYING SENTIMENT PROPERTY PRICES

After an initial set back amid pay cuts Even as supply chain reopened in Home buying sentiment improved The resale segment remained under and job losses, homebuyers were seen Jul-Sep 2020, a ban on Chinese imports as public sector banks and private pressure with deals closing at a returning to the market in Jul-Sep 2020. impacted the cost of development in players slashed home loan interest 2-5 percent discounted rate on average. Reduced home loan rates, sweetened the realty landscape. Developers cited rates to a 15-year low. This, along Developers also kept new unit prices deals by developers and more scope of increased expenses, and thus, little with resumption of construction unchanged even as some spoke of negotiations in the resale segment were scope to reduce prices in the primary work, helped take the enquiries up by increased costs amid a ban on Chinese seen as the key drivers. The quarter market. Yet, in a bid to offload the 80 percent of the pre-COVID times. imports. However, initial speculations of continued witnessing the popularity existing inventory, several schemes Developers reported a 50 percent hefty price corrections did not hold true of ready housing units, and improved were introduced in the quarter. recovery in the number of transactions. for either of the segments. demand for independent houses and Digital transformation continued as builder floors in most metro cities. developers took to the online medium RENTAL LANDSCAPE SUPPLY Window shoppers exited and genuine to interact with potential homebuyers Rental market remained in doldrums With an addition of over 31,000 units homebuyers were seen leveraging at various stages of the buying cycle. despite the opening up of the in metro cities, new launches went up the discounts available in the market. Several governmental procedures nationwide lockdown. Tenants avoided by 4.5 times, QoQ. The resale segment, Noticeably, the quarter reported shifted online as organisations adopted moving as the majority of offices too, reported an improvement as renewed interest from the NRI homebuyer to the new normal. The infusion of continued with the work-from-home several property owners returned to community against the backdrop of Rs 10,000 crore to aid the completion model. Resultantly, the rental rates the market after lockdown restrictions depreciating rupee and attractive deals of stuck realty projects was hailed by did not see any movement and offtake were gradually lifted. Unsold inventory in the new home category. the industry. was meek in both residential and stood at 4.40 lakh units at the end of commercial segments. September 2020.

KOLKATA 1% CHENNAI 1%

SHARE OF NEW LAUNCHES AHMEDABAD 16% MUMBAI 25% The quarter witnessed the launch of about 240 new residential projects in top eight metro cities. Despite being severely hit by the Coronavirus pandemic, Mumbai led all cities with a 25 percent share in new and re-launched projects. Pune, Hyderabad, Bangalore and Ahmedabad followed suit with a 16-19 percent share, each. Delhi NCR made a meagre three percent share of the total new launches, with a few projects in Greater Noida, Ghaziabad and . DELHI NCR Kolkata and Chennai reported minimal new activity from developers. 3%

BANGALORE 17% PUNE 19% Note: The data depicts share of new launches across metro cities in the studied quarter The numbers include re-launched projects

HYDERABAD 18% MARKET MOVERS COMMERCIAL REAL ESTATE OUTLOOK UP government grants State government a 6-month extension to announces Film City • Office space leasing stood at • A few co-working giants reported complete projects in Noida 0.2 million sq ft in Delhi NCR during occupancy levels coming down to Jul-Sep 2020. The continuity of the 41 percent, as opposed to 78 The Uttar Pradesh government The latest announcement to create work-from-home concept led to percent in Feb 2020. extended the project completion a 1,000 acre Film City in Sector 21, reduced demand for office spaces. deadline for real estate developers Greater Noida, along the Yamuna • With around 23 million sq ft operating in Noida, Greater Noida Expressway, is touted to propel • The average leasing rate in H1 2020 of strata office market, Delhi and Yamuna Expressway areas from investment prospects in the stood at Rs 844 per sq ft per month, NCR stood second to Mumbai June 30, 2021, to December 31, 2021. region. This has come as another about eight percent lower than in the segment. About The move was taken in the backdrop game changer for Noida’s H1 2019. 54 percent of the projects of the ongoing COVID-19 crisis, which realty, after the upcoming Jewar are under-construction. delayed project construction work International Airport project. • Around 0.9 million sq ft of new during the nationwide lockdown. The project is expected to propel office supply was added in the • Delhi NCR offers 50 million sq ft and Delhi had taken a similar the interest of NRI investors in studied quarter across micro- of REIT-worthy assets, which are stance in the month of May 2020. the region in the long run. markets of Golf Course Extension valued at around $6.5 billion. Road and NH-8 in Gurgaon and Noida-Greater Noida Expressway.

Metro construction Greater Noida authority gains steam expedites work on Ganga After a lull in Apr-Jun 2020, Water project construction work resumed on the The Greater Noida Industrial 29 km-long metro stretch between Development Authority (GNIDA) Janakpuri West and RK Ashram Marg expedited work on the 85 cu Ganga under the fourth phase of Delhi Metro. water project, which was likely to be The 82 km-long Ghaziabad-Meerut completed by September 2020. The Rapid Rail Transit (RRTS) corridor project has now reached its final also kick-started in the quarter. stage and the region will receive Ganga water supply soon.

acres India’s No.1 Property Portal DELHI NCR’S REALTY AT A GLANCE Property Prices Rental Rates Demand Supply

BUDGET-WISE DEMAND AND SUPPLY Key micro-markets across budget segments

Budget Localities based on Average Average Rental Jul-Sep 2020 Range Consumer Demand and Property Prices Rental ‘Asks’ Yield Active Listings (Rs per sq ft) (Rs per sq ft/month) 0% Within Rs 40 lakh Raj Nagar Extension 2,900-3,500 8 2.94% Chattarpur 3,400-4,700 17 5.01% 4% Sector ZETA, Gr Noida 3,400-4,200 10 2.85% -4% Rs 40 lakh - Rs 1 crore Sector-137, Noida 4,200-5,300 13 3.03% Sector-78, Noida 4,700-6,000 14 2.99% Sector-83, Gurgaon 4,900-5,500 9 1.86% Rs 1 crore and above 11,600-13,500 29 2.61% DLF City Phase I 10,300-13,900 24 2.12% Demand Sector-12, Dwarka 7,800-8,800 17 2.26% 29% 25%0% 30% 34% 41% 41% Supply Note: Rental Yield has been calculated for a 1,000 sq ft apartment. Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. Within Rs 40 lakh Rs 40 lakh - Rs 1 crore Rs 1 crore and above The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

BHK-WISE DEMAND AND SUPPLY Key micro-markets across BHK-configurations

Configuration Localities based on Average Average Jul-Sep 2020 Consumer Demand and Unit Size Property Prices Active Listings (Sq ft) (Rs per sq ft) -13%

1 BHK Laxmi Nagar 400-600 5,100-5,900 Sector-49, Gurgaon 500-600 7,300-8,100 2% 2 BHK Sector-69, Gurgaon 850-900 5,900-6,300 Vasundhara 900-1,100 3,800-4,500 Vasant Kunj 950-1,000 10,600-13,500 3 BHK Sector-83, Gurgaon 1,400-1,500 4,900-5,500 8% Ahinsa Khand 1 1,500-1,600 5,600-7,200 Demand 3% Sector-70, Noida 1,400-1,500 4,300-4,700 9% 17%0% 31% 33% 52% 39% 8% 11% Supply Note: Average property prices and rental rates have been calculated as per listings posted on 99acres.com in 1BHK 2BHK 3BHK 4BHK the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

Note: Supply is basis properties listed on 99acres.com in the studied quarter. Demand is basis queries received on 99acres.com in the studied quarter. INSITE : DELHI NCR 9 ZONAL SHARE OF acres India’s No.1 Property Portal NEW LAUNCHES Greater Noida Faridabad 25% 25% Property launches witnessed a significant improvement in Jul-Sep 99ACRES’ OUTLOOK 2020, as against Apr-Jun 2020. Almost an equal share of new property Post a lull in housing sales and new The quoted property prices remained additions were seen in Gurgaon, launches in Apr-Jun 2020, Delhi NCR’s unchanged; however, sellers remained Greater Noida, Ghaziabad and realty landscape showed some fast flexible to negotiate up to 10-20 percent Faridabad. No new projects were cropping green shoots of recovery in in the resale segment. A few distressed launched in Noida this quarter. Jul-Sep 2020, i.e. soon after the gradual sales were also reported in the quarter. lifting of the nationwide lockdown. Ghaziabad Gurgaon Brokers and developers reported a Unlike the previous quarter, which 25% Note: The data depicts share of new launches 25% marked improvement in the quality went by without any new launches, across zones in Delhi NCR in the studied quarter. of leads during the quarter as serious Jul-Sep 2020 saw a few new projects homebuyers ventured into the market to coming up in Greater Noida, Ghaziabad conduct site visits. Resultantly, monthly and Gurgaon. Overall, the city continues sales volume recovered by almost to stand with an unsold housing stock 50 percent in July. Overall, the quarter of about two lakh units. The silver lining closed with transactions numbering at is the increased interest of the NRI around 3,100 units, which is a nearly community, which coupled with the RENTAL 40 percent increase from 2,000 units in festive season may fasten the process the previous quarter, but a significant of recovery in the final quarter of the LANDSCAPE dip from 9,800 units last year. The city pandemic-hit year. constituted about 22 percent of the total property sales across the top eight metro Key micro-markets based on consumer demand and active listings cities in India, second to Mumbai.

Localities Most Supplied Market Rental Rates YoY % Rental Units Share (Rs per Month) Change in Rental ‘Asks’

Mayur Vihar - I 2BHK 50% 19,500-23,000 4% 3BHK 24% 24,500-28,500

Sector-137, Noida 2BHK 56% 10,000-12,500 0% 3BHK 41% 13,000-15,500

Sector-76, Noida 2BHK 55% 11,000-12,500 0% 3BHK 42% 11,500-13,500

Sector-54, Gurgaon 4BHK 58% 55,500-70,500 0% 3BHK 40% 29,500-37,500

Vasant Kunj 2BHK 29% 23,500-27,500 2% 3BHK 38% 35,500-44,500

Note: Average rental rates and supply have been calculated as per listings posted on 99acres.com in the studied quarter. Key micro-markets have been selected based on expressions of interest raised on 99acres.com in the studied quarter.

INSITE : DELHI NCR 11 NOIDA, GREATER NOIDA AND GHAZIABAD Property Prices Rental Rates Demand Supply

BUDGET-WISE DEMAND AND SUPPLY Key micro-markets across budget segments

Budget Localities based on Average Average Rental Jul-Sep 2020 Range Consumer Demand and Property Prices Rental ‘Asks’ Yield Active Listings (Rs per sq ft) (Rs per sq ft/month) 8% Within Rs 40 lakh Raj Nagar Extension 2,900-3,500 8 2.94% -10% Sector ZETA, Gr Noida 3,400-4,200 10 2.85% Sector-4, Gr Noida 3,700-4,100 10 3.23% Rs 40 lakh - Rs 1 crore Sector-137, Noida 4,200-5,300 19 3.03% Sector-78, Noida 4,700-6,000 14 2.99% 2% Sector-77, Noida 5,000-5,500 14 3.00% Rs 1 crore and above Sector-50, Noida 5,300-7,100 17 2.89% Demand Sector-45, Noida 5,200-6,600 16 2.93% 43% 33%0% 39% 47% 18% 20% Supply Sector-93 B, Noida 5,600-7,608 17 2.82% Within Rs 40 lakh Rs 40 lakh - Rs 1 crore Rs 1 crore and above Note: Rental Yield has been calculated for a 1,000 sq ft apartment. Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

BHK-WISE DEMAND AND SUPPLY Key micro-markets across BHK-configurations

Configuration Localities based on Average Average Jul-Sep 2020 Consumer Demand and Unit Size Property Prices 3% Active Listings (Sq ft) (Rs per sq ft) -5% 1BHK Sector-168, Noida 430-500 4,200-4,800 Ahinsa Khand 2 500-600 3,800-4,400 Vasundhara 900-1,100 3,800-4,500 2BHK Sector-137, Noida 900-950 4,200-5,300 Sector-82, Noida 920-1,000 5,000-5,500 Ahinsa Khand 1 1,500-1,600 5,600-7,200 3BHK Sector-70, Noida 1,400-1,500 4,300-4,700 Demand 5% -3% Sector-50, Noida 1,500-2,200 5,300-7,100 5% 10%0% 43% 46% 44% 39% 8% 5% Supply Note: Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status 1BHK 2BHK 3BHK 4BHK of the residential apartments.

Note: Supply is basis properties listed on 99acres.com in the studied quarter. Demand is basis queries received on 99acres.com in the studied quarter. INSITE : DELHI NCR 13 INSITE : DELHI NCR 13 RENTAL KEY HIGHLIGHTS LANDSCAPE Property enquires and sales witnessed The expanding metro network to Greater an upsurge across Noida, Greater Noida, Greater Noida West, Ghaziabad Key micro-markets based on consumer demand and active listings Noida and Ghaziabad in Jul-Sep 2020, and Jewar continues to hold the baton as against Apr-Jun 2020. In addition of a healthy investment scenario in the Localities Most Supplied Market Rental Rates YoY % to budget housing units priced within long-term. The latest announcement Rental Units Share (Rs per Month) Change in Rs 35-60 lakh, demand for low-rise of an ambitious Film City project is Rental ‘Asks’ apartments and independent houses expected to benefit both capital and went up as buyers sought privacy in the rental markets of Noida-Greater Noida, Raj Nagar Extension 2BHK 75% 6,500-8,000 0% post-COVID-19 world. and establish the region into one of 3BHK 19% 8,500-10,500 the biggest business hubs in North Sector-120, Noida 2BHK 45% 10,000-11,500 4% Ready-to-move-in inventory garnered India. Coupled with the upcoming Jewar 3BHK 37% 11,000-12,000 maximum interest from homebuyers International Airport, the area might as confidence in under-construction also attract NRI investments, eventually Vasundhara 3BHK 52% 14,000-15,000 0% projects continued to dwindle. Over 39 at par with Gurgaon. 1BHK 41% 6,500-8,000 builders operating in Noida and Greater Sector-137, Noida 2BHK 56% 10,500-12,500 0% Noida applied for exemption under the Demand from the tenant community 3BHK 41% 13,000-15,500 zero-period amnesty scheme, of which seemed to shift from residential 16 have been identified to receive a apartments to builder floor units, thus Crossings Republik 2BHK 49% 6,500-7,500 0% financial aid of Rs 263 crore from Noida propelling enquiries in the older sectors 3BHK 49% 6,000-8,500 Authority to complete pending projects. of Noida. Any impact on rental ‘asks’ Note: Average rental rates and supply have been calculated as per listings posted on 99acres.com in the studied quarter. The move is expected to benefit over was not reported due to muted demand Key micro-markets have been selected based on expressions of interest raised on 99acres.com in the studied quarter. 22,000 homebuyers in the twin cities in and excess inventory as property the due course. owners remained resilient to short-term challenges posed by COVID-19.

INSITE : DELHI NCR 15 GURGAON AND FARIDABAD Property Prices Rental Rates Demand Supply

BUDGET-WISE DEMAND AND SUPPLY Key micro-markets across budget segments

Budget Localities based on Average Average Rental Jul-Sep 2020 Range Consumer Demand and Property Prices Rental ‘Asks’ Yield -6% Active Listings (Rs per sq ft) (Rs per sq ft/month)

Within Rs 40 lakh Sector-86, Faridabad 2,800-3,300 10 3.80% Sector-88, Faridabad 3,300-3,600 9 3.34% Sainik Colony 2,800-3,400 10 3.35% Rs 40 lakh - Rs 1 crore Sector-83, Gurgaon 4,900-5,500 9 1.86% 4% Sector-92, Gurgaon 4,200-4,800 9 2.33% Ashoka Enclave 4,100-4,500 11 2.86% 2% Rs 1 crore and above Sector-57, Gurgaon 6,500-7,000 17 2.92% Demand DLF City Phase I 10,300-13,900 24 2.12% 14% 16%0% 26% 30% 60% 54% Supply Sector-54, Gurgaon 12,500-14,600 23 2.13% Within Rs 40 lakh Rs 40 lakh - Rs 1 crore Rs 1 crore and above Note: Rental Yield has been calculated for a 1,000 sq ft apartment. Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

BHK-WISE DEMAND AND SUPPLY Key micro-markets across BHK-configurations

Configuration Localities based on Average Average Jul-Sep 2020 -13% Consumer Demand and Unit Size Property Prices Active Listings (Sq ft) (Rs per sq ft)

1 BHK Sector-49, Gurgaon 500-600 7,300-8,100 Sector-81, Faridabad 380-470 2,700-3,200 2 BHK Sector-84, Gurgaon 1,060-1,100 4,600-5,200 DLF City Phase II 1,000-1,500 9,900-12,000

3% Sector-37D, Gurgaon 1,200-1,300 4,400-4,800 3 BHK South City 1 1,500-2,000 9,100-10,900 Sector-69, Gurgaon 1,350-1,510 5,900-6,300 7% 4% Demand Sector-102, Gurgaon 1,600-1,950 5,100-5,500

9% 16%0% 22% 25% 57% 44% 11% 15% Note: Average property prices and rental rates have been calculated as per listings posted on 99acres.com in Supply the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status 1BHK 2BHK 3BHK 4BHK of the residential apartments.

Note: Supply is basis properties listed on 99acres.com in the studied quarter. Demand is basis queries received on 99acres.com in the studied quarter. INSITE : DELHI NCR 17 INSITE : DELHI NCR 15 RENTAL KEY HIGHLIGHTS LANDSCAPE The recovery of the property market NRI demand inched up significantly in Gurgaon was quicker than the other in the price bracket of Rs 1.5-2 crore. Key micro-markets based on consumer demand and active listings zones in Delhi NCR. Some lucrative offers Housing belts along Golf Course Road by reputed developers led the quarter and Golf Course Extension Road received Localities Most Supplied Market Rental Rates YoY % to close with an increased number of maximum enquiries from NRIs; sales, Rental Units Share (Rs per Month) Change in sales in comparison to the Apr-Jun 2020 however, remained low due to prolonged Rental ‘Asks’ quarter. New launches, too, reported an travel restrictions. improvement, since the previous quarter Sector-56, Gurgaon 3BHK 47% 24,000-27,000 0% saw no new unit additions. Resultantly, The rental landscape failed to move 2BHK 32% 18,500-20,500 the unsold housing stock shrunk positively as the majority of offices in Sector-54, Gurgaon 4BHK 58% 55,500-70,500 0% marginally to about 25,000 units. Gurgaon continued with the work-from- 3BHK 40% 29,500-37,500 home format. The segment is expected Golf Course Extension Road remained to remain grim for another one to two DLF City Phase V 4BHK 43% 41,500-49,500 3% the prime gainer in terms of traction quarters, until offices reopen. 3BHK 36% 32,000-38,000 in Jul-Sep 2020, closely followed by Sector-82, Gurgaon 3BHK 57% 16,000-17,000 7% Dwarka Expressway and New Gurgaon. The planned metro corridor to New 2BHK 33% 12,500-15,500 Excess inventory and poor connectivity, Gurgaon and Faridabad holds the however, remained weak points for potential to propel property prices Sector-88, Faridabad 3BHK 85% 12,500-13,500 6% the latter, thus widening the window of and housing demand in the ensuing 2BHK 8% 10,500-12,500 negotiation to up to 15-20 percent in the quarters. For now, the unchanged circle Note: Average rental rates and supply have been calculated as per listings posted on 99acres.com in the studied quarter. resale segment. Homebuyers remained rates played a positive inducer for the Key micro-markets have been selected based on expressions of interest raised on 99acres.com in the studied quarter. primarily interested in ready housing market facing severe repercussions of units, which occupy over 80 percent the COVID-19-led slowdown. share in New Gurgaon.

INSITE : DELHI NCR 19 DELHI

Property Prices Rental Rates Demand Supply

BUDGET-WISE DEMAND AND SUPPLY Key micro-markets across budget segments

Budget Localities based on Average Average Rental Jul-Sep 2020 1% Range Consumer Demand and Property Prices Rental ‘Asks’ Yield Active Listings (Rs per sq ft) (Rs per sq ft/month)

Within Rs 40 lakh Chattarpur 3,400-4,700 17 5.01% Uttam Nagar 3,600-4,400 14 3.86% Dwarka Mor 4,100-4,900 16 4.38% -5% Rs 40 lakh - Rs 1 crore Laxmi Nagar 5,100-5,900 22 4.55% 4% Shahadra 5,100-6,100 16 3.69% Mahavir Enclave 5,300-5,900 16 3.51% Rs 1 crore and above Vasant Kunj 10,600-13,500 29 2.61% Demand Sector-12, Dwarka 7,800-8,800 17 2.26% 31% 26%0% 20% 24% 49% 50% Supply Mayur Vihar - I 9,300-11,800 25 2.53% Within Rs 40 lakh Rs 40 lakh - Rs 1 crore Rs 1 crore and above Note: Rental Yield has been calculated for a 1,000 sq ft apartment. Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

BHK-WISE DEMAND AND SUPPLY Key micro-markets across BHK-configurations

Configuration Localities based on Average Average Jul-Sep 2020 Consumer Demand and Unit Size Property Prices Active Listings (Sq ft) (Rs per sq ft) -22% 1BHK Laxmi Nagar 400-600 5,100-5,900 Green Park 500-700 15,380-21,000 Vasant Kunj 950-1,000 10,600-13,500 6% 2BHK Vikas Puri 820-900 8,100-9,500 Mayur Vihar - III 650-800 6,700-8,300 10% Sector-5, Dwarka 1,500-1,600 7,800-8,700 3BHK Mayur Vihar - I 980-1,300 9,300-11,800 Demand 6% Pitampura 1,100-1,550 9,000-12,000 14% 24%0% 26% 32% 55% 33% 5% 11% Supply Note: Average property prices and rental rates have been calculated as per listings posted on 99acres.com in 1BHK 2BHK 3BHK 4BHK the studied quarter. The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments.

Note: Supply is basis properties listed on 99acres.com in the studied quarter. Demand is basis queries received on 99acres.com in the studied quarter. INSITE : DELHI NCR 21 RENTAL KEY HIGHLIGHTS LANDSCAPE The buying and renting markets in Delhi Non-conducive market conditions marred suffered at the hands of the COVID-19 sales in the Jul-Sep 2020 quarter across Key micro-markets based on consumer demand and active listings pandemic. While the average weighted zones, but particularly in South Delhi. property prices maintained status quo, Despite Government’s suggestions to Localities Most Supplied Market Rental Rates YoY % QoQ, a few areas saw prices softening to reduce stamp duty rates, the South Delhi Rental Units Share (Rs per Month) Change in the tune of 5-10 percent. For instance, Municipal Corporation increased transfer Rental ‘Asks’ category A localities such as Vasant Vihar, duty for women from two percent to New Friends Colony, Shanti Niketan and three percent, and for other buyers to Mayur Vihar - I 2BHK 50% 19,500-23,000 4% Anand Niketan saw a dip in prices four percent from three percent, for 3BHK 24% 24,500-28,500 owing to high disparity in circle rates properties with a registered value of Sector-12 Dwarka 3BHK 80% 22,000-27,000 0% and market rates and meek interest Rs 25 lakh and above. 4BHK 18% 28,700-32,500 from homebuyers. The rental market remained stagnant Laxmi Nagar 2BHK 73% 8,000-12,000 3% Similarly, Mayur Vihar recorded a as demand from students and working 3BHK 12% 16,000-18,000 few deals closures at a 10-15 percent professionals continued to be grim. I P Extension 3BHK 42% 20,000-22,500 0% discounted rate, depending upon A surge in vacancy rates hit average 2BHK 42% 15,500-17,000 the construction quality or the age rentals with little scope of recovery and legal status of the property. A few until the next quarter. Some of the Sector-22 Dwarka 3BHK 70% 22,000-27,000 6% distressed sales in East Delhi’s Laxmi prime student housing hubs, which 2BHK 20% 18,500-22,500 Nagar were also reported to have closed are impacted by the stunted demand, Note: Average rental rates and supply have been calculated as per listings posted on 99acres.com in the studied quarter. at a value almost 20 percent lower than include Model Town, Tilak Nagar, Lajpat Key micro-markets have been selected based on expressions of interest raised on 99acres.com in the studied quarter. the quoted price. Nagar and Hauz Khas.

CONCLUDING REMARKS

Delhi NCR’s property market seems to have moved towards recovery post the COVID-19 induced slowdown. What the pandemic has done is distil genuine and non-genuine homebuyers. Today, the market is occupied by end-users who are looking for ready homes that allow social distancing and a safe investment bet. The festive season is going to be crucial for the market as developers plan to announce special discounts and schemes to attract homebuyers. With home loan interest rates at an all-time low and several infrastructure projects waiting to embrace the region, the real estate investment segment may gain traction in the ensuing quarters.

INSITE : DELHI NCR 23 ANNEXURES

CAPITAL VALUES RENTAL VALUES CAPITAL VALUES RENTAL VALUES CAPITAL VALUES DELHI DELHI NOIDA, GR NOIDA NOIDA, GR NOIDA GHAZIABAD

Locality Jul-Sep 2020 Locality Jul-Sep 2020 Locality Jul-Sep 2020 Locality Jul-Sep 2020 Locality Jul-Sep 2020 Locality Jul-Sep 2020

C R Park 13200 Sarita Vihar 9780 Janakpuri 20 Sector-Chi, 5 Gr Noida 4000 Sector Chi 5, Gr Noida 10 Abhay Khand 5450 Chattarpur 3980 Sector-10 Dwarka 8780 Jangpura 35 Sector-Mu, Gr Noida 3680 Omega-1, Gr Noida 9 Ahinsa Khand 1 6200 Dilshad Garden 7450 Sector-11 Dwarka 9190 Kalkaji 26 Sector-ZETA, Gr Noida 3950 Sector ZETA, Gr Noida 10 Ankur Vihar 2510 Greater Kailash I 18350 Sector-12 Dwarka 8750 Lajpat Nagar I 30 Sector-100, Noida 5510 Sector-100, Noida 15 Bhopura 3150 Greater Kailash II 18100 Sector-14 Dwarka 7120 Lajpat Nagar II 29 Sector-104, Noida 8640 Sector-110, Noida 14 Crossings Republik 3150 Greater Kailash III 18000 Sector-17 Dwarka 7760 Lajpat Nagar IV 28 Sector-107, Noida 6100 Sector-119, Noida 11 Gyan Khand 1 4200 Green Park 18900 Sector-18 Dwarka 8720 Laxmi Nagar 22 Sector-110, Noida 4810 Sector-120, Noida 12 Gyan Khand 2 3740 Gulmohar Park 25000 Sector-19 Dwarka 8710 Mahavir Enclave 16 Sector-118, Noida 4680 sector-121, Noida 14 Kaushambi 5680 Hauz Khas 19500 Sector-2 Dwarka 8510 Malviya Nagar 28 Sector-119, Noida 4860 Sector-128, Noida 15 Mohan Nagar 4910 I P Extension 10300 Sector-22 Dwarka 9110 Mayur Vihar - I 25 Sector-120, Noida 4950 Sector-137, Noida 13 Pratap Vihar 3600 Jangpura 17600 Sector-24 Rohini 8110 Mayur Vihar - II 20 sector-121, Noida 6200 Sector-21, Noida 18 Raj Nagar Extension 3360 Jangpura Extension 19900 Sector-6 Dwarka 9040 15 Sector-128, Noida 6200 Sector-25, Noida 17 Rajendar Nagar 4300 Jor Bagh 49900 Sector-8 Dwarka 7450 Model Town 23 Sector-129, Noida 4140 Sector-26, Noida 15 Ramprastha 6270 Kailash Colony 18700 Sector-9 Dwarka 8610 New Friends Colony 33 Sector-134, Noida 3800 Sector-29, Noida 17 Sahibabad 4350 Kalkaji 11700 Shahadra 5200 Panchsheel Enclave 32 Sector-137, Noida 4900 Sector-34, Noida 18 Shakti Khand 2 4250 Kirti Nagar 11900 Shanti Niketan 35000 Paschim Vihar 19 Sector-143B, Noida 4700 Sector-37, Noida 18 Shakti Khand 3 4400 Krishna Nagar 5740 Tilak Nagar 6400 Patel Nagar 26 Sector-150, Noida 5560 Sector-4, Gr Noida 10 Shakti Khand 4 4780 Kundli 2800 Uttam Nagar 4350 Patparganj 21 Sector-151, Noida 3200 Sector-44, Noida 18 Shalimar Garden Extension I 3600 Lajpat Nagar II 13100 Vasant Kunj 13140 Pitampura 23 Sector-168, Noida 4760 Sector-45, Noida 16 Siddhartha Vihar 4300 Lajpat Nagar III 19840 Vasundhra Enclave 8690 Preet Vihar 17 Sector-61, Noida 6100 Sector-50, Noida 17 Surya Nagar 6520 Lajpat Nagar IV 14690 Vikas Puri 9340 Safdarjung Enclave 32 Sector-62, Noida 5480 Sector-51, Noida 16 Vaibhav Khand 5190 Laxmi Nagar 5700 Saket 24 Sector-70, Noida 4510 Sector-52, Noida 18 Vaishali 4800 Mahavir Enclave 5410 RENTAL VALUES - DELHI Sarita Vihar 19 Sector-73, Noida 3140 Sector-53, Noida 15 Vasundhara 4050 Malviya Nagar 11500 Sector-10 Dwarka 17 Sector-74, Noida 5310 Sector-61, Noida 16 RENTAL VALUES - GHAZIABAD Mayur Vihar - I 11600 C R Park 26 Sector-11 Dwarka 17 Sector-75, Noida 5200 Sector-76, Noida 13 Mayur Vihar - II 10400 Chattarpur 17 Sector-12 Dwarka 17 Sector-76, Noida 5410 Sector-77, Noida 14 Ahinsa Khand 1 10 Mayur Vihar - III 7690 Defence Colony 42 Sector-13 Dwarka 17 Sector-77, Noida 5500 Sector-78, Noida 14 Ahinsa Khand 2 12 Model Town 11600 Dilshad Garden 18 Sector-13 Rohini 23 Sector-78, Noida 5750 Sector-82, Noida 13 Crossings Republik 8 Okhla 4450 Dwarka Mor 16 Sector-18 Dwarka 17 Sector-79, Noida 5220 Sector-93 B, Noida 17 Kaushambi 13 Panchsheel Enclave 21700 East of Kailash 32 Sector-19 Dwarka 17 Sector-82, Noida 5460 Sector-Pi, Gr Noida 9 Nyay Khand 1 14 Paschim Vihar 12210 Greater Kailash I 37 Shahadra 16 Sector-93 A, Noida 6200 Raj Nagar Extension 8 Patparganj 10710 Greater Kailash II 28 Tilak Nagar 18 Sector-93 B, Noida 7200 Shalimar Garden 12 Pitampura 10600 Green Park 33 Uttam Nagar 14 Surajpur 3300 Vaibhav Khand 14 Rajouri Garden 10700 Hauz Khas 34 Vasant Kunj 29 Vaishali 14 Ramesh Nagar 9440 I P Extension 20 Vasant Vihar 45 Vasundhara 13

*All prices are per sq ft rates *All prices are per sq ft rates INSITE : DELHI NCR 25 ANNEXURES METHODOLOGY

The Insite Report by 99acres.com properties across varied budget captures the trends in the capital segments and BHK configurations. and rental markets across top The report also gives insight into eight metro cities – Delhi NCR, the key micro-markets based on CAPITAL VALUES RENTAL VALUES Mumbai Metropolitan Region consumer demand and active listings GURGAON, FARIDABAD GURGAON, FARIDABAD (MMR), Bangalore, Pune, Chennai, in the rental market. While demand is Locality Jul-Sep 2020 Locality Jul-Sep 2020 Locality Jul-Sep 2020 Hyderabad, Kolkata and Ahmedabad. a function of expressions of interest In order to assess the prevailing raised on 99acres.com, supply is Ardee City 7000 Sector-57, Gurgaon 6970 Ashoka Enclave 11 sentiment, the report delves based on property listings posted on Charmwood Village 8300 sector-58, Gurgaon 10940 Charmwood Village 22 deep into demand and supply of 99acres.com in Jul-Sep 2020. DLF City Phase II 11400 Sector-59, Gurgaon 11100 DLF City Phase I 24 FIND BEST OPTIONS TO DLF City Phase IV 10500 Sector-60, Gurgaon 8200 DLF City Phase II 24 BU, SELL, RENT PROPERT DLF City Phase V 12500 Sector-61, Gurgaon 8200 DLF City Phase III 21 Nirvana Country 7450 Sector-62, Gurgaon 8550 DLF City Phase IV 31 Sector-81, Faridabad 2780 Sector-65, Gurgaon 10160 DLF City Phase V 31 FIND BEST OPTIONS TO Sector-82, Faridabad 3320 Sector-66, Gurgaon 9130 Nirvana Country 20 Sector-86, Faridabad 3200 Sector-67, Gurgaon 8240 Palam Vihar 19 BUY, SELL, RENT PROPERTY Sector-88, Faridabad 3310 Sector-68, Gurgaon 6370 Sector-86, Faridabad 10 Sector-102, Gurgaon 5410 Sector-69, Gurgaon 5950 Sector-87, Faridabad 9 Price trends and Sector-103, Gurgaon 4530 Sector-70, Gurgaon 6200 Sector-88, Faridabad 9 Mobile App property advice Sector-104, Gurgaon 6060 Sector-71, Gurgaon 6010 Sector-40, Gurgaon 18 on Android platform and iOS Sector-106, Gurgaon 7100 Sector-72, Gurgaon 7800 Sector-43, Gurgaon 23 Sector-107, Gurgaon 4700 Sector-77, Gurgaon 5460 Sector-45, Gurgaon 16 Sector-108, Gurgaon 6040 Sector-78, Gurgaon 5350 Sector-46, Gurgaon 20 Genuine listings with Sector-109, Gurgaon 5860 Sector-81, Gurgaon 6150 Sector-49, Gurgaon 20 Over 9.32 lakh property photographs Sector-111, Gurgaon 7450 Sector-82A, Gurgaon 7210 Sector-50, Gurgaon 21 listings Sector-112, Gurgaon 7160 Sector-83, Gurgaon 5470 Sector-51, Gurgaon 19 Sector-24, Gurgaon 12140 Sector-84, Gurgaon 5050 Sector-52, Gurgaon 20 Sector-28, Gurgaon 12100 Sector-85, Gurgaon 4800 Sector-54, Gurgaon 23 Sector-30, Gurgaon 11400 Sector-86, Gurgaon 5410 Sector-55, Gurgaon 17

Sector-33, Gurgaon 6400 Sector-89, Gurgaon 3700 Sector-56, Gurgaon 19 More than Sector-37C, Gurgaon 4700 Sector-90, Gurgaon 4500 Sector-57, Gurgaon 17 1.7 lakh projects Sector-37D, Gurgaon 4800 Sector-91, Gurgaon 4230 sector-58, Gurgaon 23 Sector-42, Gurgaon 23360 Sector-92, Gurgaon 4750 Sector-70, Gurgaon 17 Sector-45, Gurgaon 6800 Sector-93, Gurgaon 3800 Sector-71, Gurgaon 15 Sector-47, Gurgaon 7300 Sector-95, Gurgaon 3000 Sector-72, Gurgaon 16 Sector-48, Gurgaon 5800 Sector-99, Gurgaon 5010 Sector-78, Gurgaon 12 Sector-49, Gurgaon 8000 South City 1 10240 Sector-82, Gurgaon 10 Sector-50, Gurgaon 7900 South City 2 6400 Sector-83, Gurgaon 9 Sector-51, Gurgaon 6460 Sun City 14200 Sector-92, Gurgaon 9 Sector-53, Gurgaon 12000 Sushant Lok Phase - 1 8250 South City 1 21 CONTACT US Sector-54, Gurgaon 12500 Sushant Lok Phase - 2 6900 South City 2 19 0120 4879400 Sector-56, Gurgaon 6580 Sushant Lok Phase - 1 21 Monday - Friday 9:30 AM to 6:30 PM IST *All*All prices prices are are per per sq sqft ratesft rates acres India’s No.1 Property Portal Email: [email protected] 27 CONTACT US 0120 4879400 Monday - Friday 9:30 AM to 6:30 PM IST Email: [email protected]