PropIndex | Magicbricks Pune Apr-June 2021
Residential Market Insights Market Dynamics
Suburban and peripheral localities upholding the Pune market Parameters India Pune
Despite the ongoing crises and slowdown in the real estate and infrastructure sector, the residential property prices Demand+ -23.1% -30.8% in Pune registered a marginal QoQ growth of 0.7% during the quarter ended June 2021. Supply++ -6.0% -11.9% Price Index+++ 1.7% 0.7%
Further, with the lockdown being lifted partially since mid-June, the construction and allied activities have started to Notes: normalise. Subsequently, the supply and demand which was affected by the lockdown restrictions in April-May is Above parameters represent QoQ change in Q2 2021 at expected to grow. India and city level + change in volume of property searches ++ change in volume of active listings Additionally, citing affordability and proximity to major industrial and commercial hubs, home buyers in Pune were +++ change in the average price of UC and RM properties
seen shifting towards the peripheral localities, stagnating property prices in the city centre since the last 5 years. Source: Magicbricks Research
Ready-to-move Price Index Key Developers based on active listings 8,000 "Ready-to-move (RM) Kolte Patil Developers
t Kumar Properties f 7,500 segment prices q s
r Godrej Properties e increased 1% YoY, p
R 7,000 Marvel Realtors N
I while remained flat
e VTP Realty c i
r on QoQ basis" P 6,500 Rama Group e g a
r Nyati Group e v A 6,000 Goyal Ganga Group
5 Years YoY QoQ Pride Purple Properties 5,500 Goel Ganga Developments 7 8 9 0 1 2
1 1 1 2 2 2 3.4% 1.0% 0.2% 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 June 2021 share of active listings on Magicbricks website in Q2 2. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research 2021 Source: Magicbricks Research
Under Construction Price Index Key Projects Project Name Locality 8,000 "Under-construction (UC) property prices Nanded City Sinhagad Road t 7,500 f
q Xrbia Hinjewadi Hinjewadi s
r grew 9% in the last 5 e
p Future Towers Amanora Park Town
R 7,000 years, and marginally N
I Rohan Mithila Viman Nagar
e
c by ~4% YoY" i
r Pride World City Charholi Budruk P
6,500 e g
r Neo Towers Amanora Park Town e v A 6,000 Life Republic Hinjewadi 5 Years YoY QoQ Aspire Towers Hadapsar 5,500 Lake Town Bibwewadi
7 8 9 0 1 2 9.3% 3.7% 1.3% 1 1 1 2 2 2
0 0 0 0 0 0 Empire Square Chinchwad 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 2021 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 2021 Source: Magicbricks Research Source: Magicbricks Research
Average changes in prices for localities in various price segments In the News
< 5,000 5,000-7,500 7,500-10,000 > 10,000
3.2% 1. Pimpri Chinchwad New Town "RM segment remained Development Authority (PCNTDA) also known as “Pradhikaran” is expected be flat across all price merged with PCMC and PMRDA. This 1.6% would help in efficient administration, 1.2% brackets, while the UC development and upkeep of the areas 0.5% 0.4% segment above INR under PCNTDA. 0.2% 10,000 per sqft 2. The PMRDA Metro (Hinjewadi- witnessed a marginal Shivajinagar) work is expected to start -0.5% 3.2% growth" soon following the allotment of land to the contractor in May 2021 for -1.4% commercial development. This is RM UC RM UC RM UC RM UC expected to be operational by 2024
Note: and would ease connectivity between 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 Pune city and Hinjewadi IT Park. buckets (INR per sqft) as on Mar 2021 Source: Magicbricks Research
© magicbricks.com Page 1 Demand Supply Analysis Pune | Apr-June 2021
Bigger houses gaining popularity 2BHK and 3BHK configurations registered growth in demand as well as supply
The demand for large-sized homes including 3BHK and above bounced back in Q2 2021 to around DEMAND SUPPLY 40% of the total residential demand in the city. Above 3 BHK 1 BHK Above 3 BHK 1 BHK This demand share of 3BHK and above rose from 7% 13% 6% 11% 35% in Q1 2021 and 26% in Q2 2020. 3 BHK 3 BHK 30% "2 and 3BHKs continued to 33% dominate property searches in Pune" 2 BHK 2 BHK - Consequently, the demand share of smaller and 48% 54% mid-sized homes including 1 and 2BHKs declined 4% QoQ from 65% in Q1 2021 to 61% in Q2 2021. The share of 1BHKs alone fell by 6% QoQ in the Notes: 1. Demand represents property searches on Magicbricks website during Q2 2021, segregated by Bedroom, Hall, Kitchen (BHK) configuration quarter ended June 2021. 2. Supply represents active listings on Magicbricks website during Q2 2021, segregated by BHK configuration Source: Magicbricks Research - The demand for higher configuration homes such as 3 BHKs and above increased in Q2 2021 majorly due to the extended WFH situations in the IT/ITeS Localities priced above INR 7,500 per sqft undersupplied by over 7% sector in the wake of the 2nd wave of the pandemic. DEMAND SUPPLY -However, there is still an uncertainty looming > 10,000 > 10,000 over WFH-induced demand for bigger homes, as < 5,000 < 5,000 10% 16% 6% 15% workplaces are anticipated to open in the near 7,500-10,000 future with phase wise lifting of lockdown. 7,500-10,000 22% 25% - According to Magicbricks data, there was a QoQ rise of 6% in demand and 4% in supply for localities priced above INR 7,500 per sqft. These include premium localities in the city such as 5,000-7,500 Hadapsar, Balewadi, Aundh, Baner, Viman Nagar, 5,000-7,500 49% Kothrud and Magarpatta City. The primary reason 57% for this growth can be attributed to proximity and Notes: easy connectivity to employment hubs including 1. Demand represents property searches on Magicbricks website during Q2 2021, segregated by price buckets industrial as well as IT clusters 2. Supply represents active listings on Magicbricks website during Q2 2021, segregated by price buckets
Source: Magicbricks Research
Top Micromarkets by Consumer Searches Propensity of demand and supply in terms of searches and listings Demand/Supply by localities Supply Micro Market Price Range Rank Rank Q2-21 Q1-21 Gahunje Sanaswadi Talegaon Dhamdhere Spine Road Charholi Airport Road 5000-12000 1 1 Adarsha nagar
Hadapsar 5100-9900 2 5 Pradhikaran Koregaon Bhima Bijlinagar Wadmukhwadi Baner 5500-9300 3 3 Bhosari Morwadi Lonikand Kondhwa-Wanwadi 4400-10300 4 7 Charholi Budruk
Wakad 5300-7900 5 4 Vallabh Nagar Dighi
Paud Road 4700-12400 6 2 Kasarwadi Undri-Pisoli 3600-7200 7 10 Bhopkhel Bakhori Phugewadi Lohgaon Wadebolai Note: 1. Top micro-markets of the city, ranked by number of searches on Hinjewadi Phase 3 Magicbricks in Q2 2021 Kesnand 2. Price ranges represent the range of avg locality prices in the Khadki micromarket in INR per sqft. Source: Magicbricks Research Chande
Top Micromarkets by active listings Sus Chavan Nagar
Micro Market Price Rank Rank Pashan Senapati Bapat Road Range Q2-21 Q1-21 Manjri Kasar Amboli Airport Road 5000-12000 1 1 MG Road
Baner 5500-9300 2 2 Bhukum Hadapsar 5100-9900 3 Uraw3ade Bhekarai Nagar Uruli Kanchan Warje Loni Kalbhor Wakad 5300-7900 4 4 Phursungi Hinjewadi 5 6 4200-6900 Kudale Baug Kondhawe-Dhawade Daund Kondhwa-Wanwadi 4400-10300 6 8 Uruli Devachi Pisoli Narhe Undri-Pisoli 3600-7200 7 9 Yewale Wadi © 2021 Mapbox © OpenStreetMap Wadachi Wadi Wadki Note: 1. Top micro-markets of the city, ranked by their active listings on Note: Magicbricks in Q2 2021 1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) for 2. Price ranges represent the range of avg locality prices in the properties in the localities on Magicbricks website in Q2 2021 micromarket in INR per sqft. 2. This is an interactive map available on Magicbricks.com under Propindex section. Source: Magicbricks Research Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. Source: Magicbricks Research
© magicbricks.com Page 2 Price Analysis Pune | Apr-June 2021
Q2 2021 | Price Changes in Key Localities
Pradhikaran Koregaon Bhima Bijlinagar Wadmukhwadi MIDC Lonikand Charholi Budruk 4.3% Vallabh Nagar Dighi -3.4% Kasarwadi Bhopkhel Bakhori Phugewadi Wadebolai Maan Hinjewadi Phase 3 Kesnand -2.7% Khadki
Sus Chavan Nagar 2.5% Pashan Senapati Bapat Road 0.5% Manjri 1.3% Kasar Amboli Pirangut Camp -2.5% Bhukum Bhekarai Nagar Uruli Kanchan Loni Kalbhor -4.3% Phursungi Kudale Baug -3.5% Kondhawe-Dhawade Daund
Katraj Wadachi Wadi Mahadev Nagar-Dhayari -1.7% Wadki
© 2021 Mapbox © OpenStreetMap
Note: 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 2021 2. Color of the bubble represents price change in Q2 2021, 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
- Most of the developing localities with property prices around INR 5,000 per sqft including Mamurdi, Handewadi, Loni Kalbhor, Pirangut, and Phursungi, among others, witnessed one of the least price declines in the range of 2-4% QoQ
-Mid-range localities nearby IT and industrial hubs, such as Hadapsar, Gahunje, Marunji, Mahalunge, and Balewadi registered the highest price rise of 4-8% QoQ
Source: Magicbricks Research
< INR 5,000 psf INR 5,000-7,500 psf INR 7,500-10,000 psf > INR 10,000 psf
Locality Avg Price Price Locality Avg Price Locality Avg Price Locality Avg Price Price Change Price Change Price Change Change
Shivane 4,400 5.6% Hadapsar 7,060 7.5% Bibwewadi 8,437 3.4% 10,217 6.6% Gahunje 6,774 7.5% Ghorpadi Alandi 4,481 3.8% Amanora Park Town 8,267 2.7% Dhankawadi 5,879 7.5% Bhusari Colony 9,287 1.5% Handewadi Road 4,568 1.1% Koregaon Park 11,248 2.6% Balewadi Stadium 6,783 5.3% Balewadi Gaon 7,796 1.2% Wagholi 4,853 1.0% Mahalunge 6,334 4.3% Balewadi 7,512 1.1% Sadashiv Peth 10,361 2.4% Narhe 4,673 0.9% Marunji 5,215 4.3% Viman Nagar 8,463 0.8% Charholi Budruk 5,360 4.3% Talegaon Dabha.. 4,100 0.7% New Kalyani Nagar 7,953 0.6% Erandwane 13,172 2.4% Mumbai Pune Hwy 6,750 3.5% Magarpatta City 8,424 0.2% Vadgaon Budruk 4,450 0.3% Bhosari 6,118 3.0% Market Yard 8,353 0.0% Chakan 3,613 0.2% Kothrud 10,265 0.4% Sus 6,025 2.5% Aundh 9,138 -0.1% Pisoli 4,565 0.2% Hinjewadi Phase 2 6,165 2.2% Kalyani Nagar 9,764 -0.5% Prabhat Road 15,740 0.3% 5,640 2.2% Handewadi 4,303 -2.4% Dhanori Baner 7,726 -0.9% Sinhagad Road 6,684 2.1% Baner - Pashan Link.. 8,304 -1.0% Pirangut 4,180 -2.5% Model Colony 13,487 -0.6% Kaspate Vasti 6,696 1.9% Karve Nagar 8,752 -1.3% Phursungi 4,611 -3.5% Pimpri 6,596 1.8% Baner Gaon 7,774 -1.4% Shivaji Nagar 13,509 -0.9% Loni Kalbhor 3,615 -4.3% Lohgaon 5,274 1.8% Pimple Nilakh 7,891 -3.6%
Note: Moshi 5,071 1.7% 1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q2 2021. This is an interactive table available on Magicbricks.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 segments, 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 represents the price change in Q2 2021, 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:
Devarshy Ganguly |Marketing Head Ankur Upadhyay | Research Manager Deepak Rajput | Sr. Research Analyst [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.
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