mumbai - magicbricksproperty.magicbricks.com/microsite/buy/propindex/images/jan-mar... · of...

MUMBAI

PropIndex has completed three years now. Over this period, we’ve accumulated a wealthof data/analytics on price/locality trends and market performance. As the Indianproperty buyer gets more focused on returns from investment, we hope the dataprovided here, helps you in making informed property decisions. Use d in tandem withthe host of advisory services available online at advice.magicbricks.com, the effort is tomake this a one-stop shop for all your property queries, requirements and information.

The year 2014 started with anticipation among real estate stakeholders concerning the16th general elections in the country. These Lok Sabha elections have kept the IndianReal Estate Market in the wait and watch mode. This is reflected in the NationalProperty Index with a mere 1 per cent change in the Jan-Mar 2014 quarter. City indexvalues too remained intact and ranged between minus 1 to plus 3 per cent.

The formation of new government is expected to infuse fresh life into the real estatemarket and improve home buyers sentiments. In the current quarter, property marketsremained sluggish. However, robust demand from end-users arrested any significantchange in property values. We have observed few finds from the current report:

Key Findings

lAcross the country, capital markets have remained passive while rental markets haveflourished.

lDemand patterns across cities remained more or less in line with the previous quarterwith the mid-budget range of Rs 30-50 lakh remained the most preferred category,especially in Bangalore and Pune. However high end properties remained more indemand in Gurgaon and Mumbai.

lPremium luxury properties remained oversupplied across cities despite a robustdemand of over 20%.

lMumbai topped the chart with maximum demand for properties worth Rs 1 crore andabove, followed by Delhi and Gurgaon.

lSlower demand for property forced sellers to negotiate between 5-15 per cent on theasking values.

In this issue we have incorporated Greater Noida as an independent city which hasrecorded growing demand for residential properties, offering huge options in theaffordable ranges.

Do write in at [email protected] and share your views on this report and howwe could make PropIndex even better.

FOREWORD

Sudhir PaiBusiness Head, Magicbricks.com

NATIONAL PROPERTY INDEX (NPI)

VOL 3, ISSUE 4; JAN-MAR, FY 2013-14 propindex.magicbricks.com

JAN-MAR 2014

With buyer sentiments down across the country and everyone awaitingthe general elections, the common consensus is against buying property.This has resulted in people opting for rental accommodation as opposed tobuying their own home. This is the prime reason that held the growth ofthe National Property Index (NPI). It rose by 1 per cent in the Jan-Mar2014 quarter. NPI is a weighted average of supply and values across 11cities in India. During the Jan-Mar 2014 quarter the city index value wasfound to be in the range of minus 1 to plus 3 per cent.

Approximately 60 per cent of thelocalities recorded a rise in capitalvalues resulting in the Mumbai CityIndex witnessing a rise of 1 per centduring the Jan-Mar 2014 quarter.Limited supply resulted held the riseof the index. The Listed PriceMonitor rose by 2 per cent due torising capital values. The rentalmarket also remained robust.

n Capital markets across citieswere stable while rentalmarkets were active withconsiderable demand and risein values

n The preferred localities indifferent cities remainedunchanged since the Oct-Dec 2013 quarter

n Consumer demand slowly andsteadily moved towards themid-segment category. Demandinched up in the luxurycategory which remainedoversupplied.

JAN-MAR 2014

TOP YIELD GROSSERS

Gross yield is a ratio of average annualrental value to the average capital value ofthe property in the current quarter. Belowis the top yield-grossing locality in the city.

Locality Gross yield

Mumbai, Bandra East 3.47%

CAPITAL GAINS

It indicates the locality recorded maximumincrease in the capital value in the currentquarter.

Locality % Change

Mumbai, Sewri 7.41%

MUMBAI VOL3, ISSUE 4; JAN-MAR, FY 2013-14propindex.magicbricks.com02

VOL3, ISSUE 4; JAN-MAR, FY 2013-14propindex.magicbricks.com

PROPINDEX - MUMBAIWith the Maharashtra Housing(Regulation and Development) Act2012 being approved by thePresident, Mumbai’s real estate markethas witnessed a surge in positivesentiments. However, while homebuyers are happy with it, the bill hasgenerated mixed responses amongdevelopers and experts in the state.

Looking at the residential real estatelandscape, the city has witnessed asluggish transactional phase in theprevious quarter in anticipation of anew government and the economicslowdown. Homebuyers, includinginvestors, preferred to sit the fence,anticipating correction in values if anew government comes to power.

However, the demand for premiumproperties in the main parts ofMumbai saw a rising trend. While thedemand for premium properties worthRs 2 crore and Above was high acrossSouth and Central Mumbai, theoversupply of properties falling in thesame range increased the levels ofunsold inventory in these two zones.This also gave room for real estatebuyers and investors to negotiate withdevelopers and real estate agentswhile buying property.

Central Line, Western Suburbs andThane saw a high demand forproperties ranging between Rs 50-100 lakh, whereas the supplyof the properties in the same budgetwas low. The highest demand wasnoticed for the affordable section, Rs 20-50 lakh, in established areas ofNavi Mumbai compared to the lowsupply within the same budget.Properties priced within Rs 20 lakhrecorded a considerable demand. Themaximum supply of properties fallingin this affordable budget range wasobserved in Badlapur.

The city saw the maximum demandfor multi-storey apartments across allzones. The high prices in the cityrestricted homebuyers to 1BHKapartments. In terms of increase inproperty values, the appreciation wasmarginal and restricted to selectemerging micro-markets in the city.

The upcoming general elections andthe unsold-inventory restricteddevelopers from launching newprojects. Seeing the price and supplytrend in the city, the revival inconsumer sentiments and increase inactual transactions is expected assoon as the general elections are over.

The Mumbai City Index rose by 1 per cent in the Jan-Mar 2014quarter as compared to the 2 per cent rise in the previousquarter. The Listed Price Monitor rose by 2 per cent as againstthe 5 per cent rise in the Oct-Dec 2013 quarter. The yield meterranged between 1.87-3.47 per cent registering a marginal rise.

l The Western suburbs inMumbai remained the preferredresidential destination. This wasalso reflected in the top tenpreferred localities chart withmore than five localities fallingin the western region

l In the Western Suburbs,Andheri West, Kandivalli Westand Borivalli West witnessed aconsistent rise in the averagecapital values in the past eightquarters. An annual increase ofover 10 per cent was registeredin the average capital values

l City stats showed that localitiesin the Western Suburbs and theNavi Mumbai region continuedto offer maximum options forproperties within Rs 20-50 lakh

l Panvel and Ulwe offeredmaximum options in the newdeveloping projects in NaviMumbai between Rs 20-40 lakhin the current quarter

l Prabhadevi, Lower Parel, Worliand Mahalakshmi offeredmaximum options in the high-end premium apartmentsof 3, 4 and 5BHK worth Rs 7 core and above

l Residential areas along theCentral Line witnessed no dropin average capital values in thelast three months. An increaseof 1-4 per cent was registeredacross localities

l Except for Navi Mumbai, allother regions across the citywitnessed a drop in the activeproperties for sale. Maximumdrop was witnessed for localitiesin Thane and areas beyondThane in the current quarter

l In Thane region, GhodbunderRoad, Pokhran Road and KolshetRoad were the most activelocalities and registered over 30 per cent rise in the averagecapital values during the periodMar 2011 to Mar 2014

l The Maharashtra Housing(Regulation and Development)Act 2012 is expected to beimplemented in the state afterthe Lok Sabha elections.Introduction of the regulatorybill will significantly increasedevelopers accountability andtherefore is expected to make apositive impact on the realestate sector of the state in thelong run

Key Takeaways

E d i t o r i a l

MUMBAI03VOL3, ISSUE 4; JAN-MAR, FY 2013-14 propindex.magicbricks.com

l The capital market in Mumbai remained positiveduring the Jan-Mar 2014 quarter with nearly 59 per cent of the localities recording a rise

l This rise in values pushed up the Listed PriceMonitor by 2 per cent in the Jan-Mar 2014 quarter

l Localities in the south and central zone such asColaba, Wadala and Sewri recorded the highest riseof 7 per cent each

l Capital values stabilized across localities. Thus,correction led to dropping values in localities suchas Worli, Palm Beach, Borivali East and MulundWest which saw a drop of 2-6 per cent as compared tothe Oct-Dec 2013 quarter

L I S T ED PR I CE MON I TOR

Locality Average Rental Average Capital Gross

Value (Rs/sqft/mth) Value (Rs/sqft) Yield

Bandra West 85.50 39,925 2.57%

Powai 42.50 17,300 2.95%

Andheri West 46.50 20,450 2.73%

Chembur 35.75 16,725 2.57%

Goregaon East 35.25 14,550 2.91%

Bandra East 61.50 21,275 3.47%

Andheri East 39.25 15,550 3.03%

Kamothe 9.25 5,925 1.87%

Kandivali East 29.50 14,025 2.52%

Malad West 34.75 14,925 2.79%

Y I E L D M E T E R

l As compared to the previous quarter where theyield ranged between 1.73-3.45 per cent, theMagicbricks yield meter clocked returns in therange of 1.87-3.47 per cent in the current quarter

l The improved yield may be attributed to therobust rental market across the city which pushedup the rental values while capital values droppedin the Jan-Mar 2014 quarter

l Western Suburbs recorded the highest rentalreturns across the city. Some of these localitiesincluded Bandra East and West, Andheri East andWest, Kandivali East, Goregaon East etc

l Bandra East registered the highest yield followedby Andheri East. Other locations that saw healthyrental returns were Powai, Parel, Malad East,Kanjur Marg, Wadala etc

RENT MON I TOR

l As visible across cities, the rental market inMumbai was robust with rental values in all trackedlocalities recording a rise

l Rental values increased in the range of 3-12 per centacross different localities with Prabha Deviregistering the highest rise

l Easy access to commercial hubs such as NarimanPoint and Bandra, along with availability of ready-to-use units pushed up the rental vales here

l As opposed to the previous quarter where the rentalvalues were either stable or saw a marginalincrease, localities such as Bandra West, Powai andJuhu recorded a significant rise of 10 per cent

2%

MUMBAI 04VOL3, ISSUE 4; JAN-MAR, FY 2013-14propindex.magicbricks.com

Growth Number of Localities with Most ActiveCorridor Projects Maximum Property

Residential Projects Typology(Multi-storey)*

Western Suburbs 59 Mira Road, Andheri West 91%and Kandivali East

Mumbai Central Line 27 Powai, Mulund West and 92%Bhandup West

Navi Mumbai 106 Panvel, Ulwe and Kharghar 94%

Thane 39 Ghodbandar Road, Badlapur 93%and Thane West

*Percentage of total supply

RENT

Locality Rental RankValues Q4 Q3

Powai 38000 to 50500 1 3

Andheri East 35500 to 46000 2 1

Andheri West 42000 to 55000 3 2

Goregaon East 32000 to 41500 4 4

Kandivali East 27000 to 34000 5 5

Malad West 32000 to 40000 6 6

Bandra West 76000 to 102500 7 8

Chembur 32500 to 41500 8 9

Kharghar 11500 to 15500 9 7

Airoli 18000 to 23000 10 10

Note: Q4 Jan-Mar 2014, Q3 Oct-Dec 2013

Locality Capital RankValues Q4 Q3

Kharghar 6500 to 8200 1 2

Mira Road 6500 to 7900 2 4

Andheri West 18550 to 23850 3 3

Kandivali East 12800 to 16200 4 5

Andheri East 14150 to 18050 5 8

Goregaon East 13250 to 16850 6 6

Borivali West 13050 to 16150 7 10

Powai 15850 to 19850 8 7

Malad West 13650 to 17250 9 9

Kandivali West 12050 to 15350 10 -

SALE

Note: Q4 Jan-Mar 2014, Q3 Oct-Dec 2013

PREFERRED LOCALITIES

l Affordable localities notched up the top positions onthe list of preferred localities for sale this quarter(Jan-Mar 2014), clearly indicating a resistancetowards premium properties

l This was also visible in the demand (26%), second tothe Rs 50-100 lakh category, which recorded 30 percent demand for properties worth Rs 20-50 lakh

l Slowly and steadily Khargar finally notched the topspot in the list of top ten preferred localities for salewhile Mira Road at number two slot moved up twopositions from the previous quarter

l Khargar and Mira Road, both, offered residentialunits in the budget range of Rs 6,500-8,000 per sq ft

l Andheri East moved up three positions as comparedto the previous quarter to settle at the fifth spotwhile Andheri West retained its third spot

l Borivali West moved up three positions while MaladWest retained the ninth spot on the chart. KandivaliWest was a new entrant in the list this quarter

l The Western Suburbs continued to be the popularchoice for rental accommodation in the Jan-Mar 2014 quarter as in the previous quarters

l As opposed to the previous quarters, the top spotwas notched by Powai (Central Line) moving up twopositions from the Oct-Dec 2013 quarter

l Powai gained prominence as a rental abode on theback of proximity to several IT Parks and enhancedconnectivity via the Eastern and WesternExpressway and the Jogeshwari-Vikhroli Link Road.The green surroundings also act as an advantage

l Amongst the Western Suburbs, Andheri East andWest were at second and third positions respectively

l Remaining areas of the Western Suburbs such asMalad West, Kandivali East, Goregaon East etcmaintained their positions on the list

l Chembur gained popularity and moved up a postionto settle at number eight. The locality was favoureddue to the metro and the monorail connectivity

Above 40% 20-30% 10-20% 5-10% Less than 5%


The real estate landscape of Mumbai saw positive changes with approval of theMaharashtra Housing (Regulation and Development) Act 2012. The Bill isexpected to bring in the much needed transparency in the state’s housing sector.Apart from this, the increasing population and the shortage of housing in thecity have pushed up the land values.

Will Maharashtra Housing Act impact real estate?The Maharashtra Housing (Regulation and Development) Act 2012 is being approved bythe President and there are bright chances that it will be implemented in the state afterthe Lok Sabha elections. With this, Maharashtra has become the first Indian state wherea regulatory bill has been introduced in the real estate sector. While home buyers arehappy, the bill has generated mixed responses by developers and builders in the state.

n Magicbricks.com Bureau

Land prices in Mumbai touch new high Acute land shortage in Mumbai has led to a bizarre situation where plots fetchastronomical rates. On March 24, a 25-acre sprawl belonging to Tata Steel in thesuburban Mumbai invited the highest bid of Rs 1,155 crore. Over the past decade, as thehousing shortage became severe, the city recorded a number of property transactions.Four years ago, a land parcel was sold for over Rs 4,000 crore, a national record of sorts.

n The Times of India, Mumbai

R E A L T Y N E W S

To read full story and more news go to www.content.magicbricks.com

Approximately three lakh homes are underconstruction in the MMR with 45 per cent ofthem being unsold. Pricing is a component ofthe demand and supply ratio that varies fromarea to area. Locations define the ‘InvestmentQuotient’ of a project. Home buyers should bemore research oriented and dive deep intothe developer’s profile and projectdocumentation to make a secured call beforeinvesting in the real estate.

Siddharth BhatiaThe Wadhwa Group

E X P E R T S P E A KDeveloper

MMR witnessed new supply of 0.26 millionunits over the last five years, of whichapproximately 0.12 million units are currentlyunsold. Despite slowdown over the past twoyears, property prices have risen. In the micromarkets prices have increased by 5-15 percent in the last 18 months, with salesconcentrated in the less than Rs 1 crore priceband. After elections, the market may witnessrising interest levels.

Karun VarmaManaging Director - New Businesses(Residential), DTZ India

Consultant

Abhi BatraDirectorBuniyad Group

Q&A

How will the elections impact andchange the dynamics of the city?

The upcoming elections won’t have animmediate effect but we are expecting themarkets to get positive and demand toincrease over a period of time.

Which localities are you active in?

We are active in Navi Mumbai, Thane,Central Mumbai etc.

Which of these localities see maximumpossessions this year?

We are expecting possession in NaviMumbai within different price brackets.

Who is delivering?

What is the buyers profile?

Are you getting enquiries from buyers?

How many are getting converted toactual transactions?

Mumbai has demand for apartments orsmaller units and bungalows. The volumemight be different but demand is steady.

Which BHK segment is popular?

Which budget category is popular?

What type of property is in demand?

Any infrastructure project expected toimpact the real estate market in 2014?

Established New developers Bothdevelopers

ActiveProfession:All

No queriesNot veryfrequent

< Rs 25 lakh

Rs 25-50 lakh

Rs 50-75 lakh

Builder floor unitsApartment

Roads/flyover

Active agegroup: All

NRI/locals:NRI

Regular

1 BHK 2 BHK 3 BHK 4 BHK &above

Rs 75-1crore

Above1 crore

Plots Villas

Metro Socialinfrastructure

Civicamenities


40

30

20

10

0<20 20-50 50-100 100-200 200 &

above

7

Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

7

26 26

32 30

20 22

15 15

(Oct-Dec 2013)

(Jan-Mar 2014)

Budget wise Analysis - City Level

DEMAND

40

30

20

10

0<20 20-50 50-100 100-200 200 &

above

5Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

3

1618

27 27 26 26 26 26

(Oct-Dec 2013)

(Jan-Mar 2014)

SUPPLY

Budget wise Analysis

l The Rs 50-100 lakh categoryrecorded highest demand (30%)and supply (27%) in the city. The Rs 20-50 lakh category was the nextpreferred, recording 26 per centdemand. Its supply rose by 2 per cent in the present quarterstanding at 18 per cent

l Supply for the Rs 2 crore andAbove category led demand by 11 per cent. Its demand was 15 per cent and the supply was 26 per cent

DEMAND - S UPP LY ANALYS I SAt the city level Rs 50-100 lakh was the popular budget category followed by the Rs 20-50 lakhcategory. A healthy demand was noted for properties in the range of Rs 1-2 crore. Supply wasalmost equally distributed in the budget ranges of Rs 50-100 lakh, Rs 1-2 crore and Rs 2 crore andAbove in the Jan-Mar 2014 quarter.

Smaller units were preferred in Mumbai with 85 per cent demand noted for 1 and 2BHKcategories. Demand for the 1BHK units increased by 5 per cent while a drop of 3 per cent wasnoted for the 2BHK units. Supply was more inclined towards the 2BHK units with 40 per centavailability. More than 90 per cent demand and supply was noted for apartments.

Property wise Analysis

l Demand for multi-storeyapartments continued to top in thecity. There was 93 per cent demandand 94 per cent supply recorded forthis category. The demand andsupply dropped by 1-2 per cent inthe current quarter

l An increase of 3 per cent was seenin demand and 2 per cent in supplyof independent houses. Whiledemand for the same was 6 per cent, the correspondingsupply was at 5 per cent

BHK wise Analysis - City Level

l The previous quarter sawsynonymous demand for 1 and2BHK units. This quarterregistered maximum demand(46%) for 1BHK units, 5 per centhigher than in the previousquarter. Units of 2BHK recorded 39 per cent demand

l Supply for both the categories wasstable since the Oct-Dec 2013quarter. Units of 1BHK recorded 30 per cent supply while those of2BHK recorded 43 per cent supply

Property wise Analysis - City Level

100

80

60

40

20

0

95 93

4 61 1

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Residential Residentialapartment house plot

DEMAND SUPPLY

100

80

60

40

20

0

95 94

4 51 1

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Residential Residentialapartment house plot

BHK Configuration - City Level

50

40

30

20

10

0

4146

4239

15 13

2 2

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)


DEMAND SUPPLY

50

40

30

20

10

0

29 30

42 43

22 21

7 6

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)



A significant drop of 7 per cent was noted in the demand for properties worth Rs 2 croreand Above. However, with 56 per cent demand it still remained the popular budget range.In contrast, supply in the category inched up by 3 per cent this quarter.

Maximum demand was noted for the 2BHK units closely followed by the 1BHK category.However, supply was concentrated in the 3BHK category closely followed by 2BHK units.An over-supply of almost 11 per cent was seen for larger homes (4BHK and Abovecategory). More than 95 per cent demand and supply was noted for apartments in the zone.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore

Rs 2 crore and above

DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l South Mumbai recorded the highest demand of 56 per cent for theRs 2 crore and Above category. The supply for the same was morethan 90 per cent in this zone. While demand dropped by 7 per cent inthe current quarter, supply increased by 2 per cent

l A healthy demand was seen for the Rs 50-100 lakh (13%) and Rs 1-2 crore (21%) categories. However, supply of both rangedbetween 2-5 per cent. Dadar West, Mahim and Lower Parel recordedthe maximum supply of properties in these categories

l The Rs 20-50 lakh category recorded an increase in demand by 4 per cent in the current quarter. Its supply was only 1 per cent

DEMAND & SUPPLY - South Mumbai


l While multi-storey apartments continued to be preferred in SouthMumbai. Its demand dropped by 5 per cent in the Jan-Mar 2014quarter. Supply too, witnessed a dip of 3 per cent in this quarter.Where demand for the category was 89 per cent, its supply was 93 per cent, indicating a mismatch of 4 per cent

l The independent houses category recorded a 4 per cent increase indemand at 10 per cent in the Jan-Mar 2014 quarter leading supply by4 per cent. These units were preferred in Worli, Prabhadevi andMahalakshmi

l Demand and supply for residential plots was limited to 1 per cent,similar to the trend in the previous quarter

BHK wise Analysis

l The 2BHK category recorded a maximum demand of 34 per cent. Itssupply was 29 per cent and fell short of demand by 5 per cent

l Demand for 1BHK units stood at 31 per cent, increasing by 6 per centin the present quarter. Demand exceeded supply by 18 per cent

l Larger units of 3 and 4BHK and Above category recorded aconsolidated demand of 35 per cent and supply of 58 per cent. Whilesupply for the 3BHK units exceeded its demand by 12 per cent,supply of 4BHK and Above units exceeded its demand by 11 per cent. Units of 3BHK recorded maximum supply of 36 per centin the city in the current quarter

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Multistorey apartment

Residential house

Residential plot

Q3 Q4

63 56

21

13

9

11

20

Q3 Q4

89 91

5

Q3 Q4

8994

10

Q3 Q4

93966

Q3 Q4

25 31

34

2431

33

1111

Q3 Q4

10 13

29

3639

29

2222

DEMAND SUPPLY

5


The Rs 50-100 lakh and Rs 1-2 crore budget ranges were preferred in localities along theCentral Line. However, supply was maximum for luxury properties priced at Rs 1-2 crorefollowed by the Rs 2 crore and Above category. A moderate supply of 22 per cent was seenfor properties in the Rs 50-100 lakh range as well.

Smaller housing units were preferred along the Central Line with more than 40 per centdemand for 1 and 2BHK units each. However, supply was highest for 2BHK units (41 per cent) followed by 1 and 3BHK units with 28 and 25 per cent, respectively.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l The category of Rs 50-100 lakh recorded the highest demand of 32 per cent in the Central Line zone. Though its supply increased by4 per cent in the present quarter, it fell short of demand by 10 per cent

l There was a 28 per cent demand for the Rs 1-2 crore categoryhowever its supply was 38 per cent, leading demand by 10 per cent.Contrarily, demand for the Rs 2 crore and Above category led supplyby 12 per cent, indicating a mismatch

l Demand for the Rs 20-50 lakh category was also met by insufficientsupply with a 19 per cent demand but only a 9 per cent supply

DEMAND & SUPPLY - Central Line, Mumbai


l The Central Line of Mumbai recorded over 90 per cent demand andsupply for multi-storey apartments. Both reported a drop of 3 per cent each in the Jan-Mar 2014 quarter

l Independent houses recorded a rise of 3 per cent each in demandand supply with both adequately matched. The demand for thiscategory was 7 per cent while the supply was 6 per cent. Themaximum supply for these units was recorded in Mulund, Karjatand Powai in the Jan-Mar 2014 quarter

l Similar to the previous quarter, demand and supply for residentialplots was negligible in the zone, close to 1 per cent. Maximumsupply for this property type was concentrated in Karjat

BHK wise Analysis

l Smaller homes of 1 and 2BHK configurations recorded an almostequal demand in this zone. There was 42 per cent demand for 1BHKunits and 41 per cent for 2BHK units. While supply of 2BHK unitsmatched demand, supply of 1BHK units fell short by 14 per cent andstood at 28 per cent

l Units of 3BHK recorded a considerable supply of 25 per cent leadingdemand by 10 per cent in the current quarter. Maximum units ofthis configuration were supplied in localities such as Bhandup West,Ghatkopar West and Powai

l Supply for the 4BHK and Above units increased marginally in theJan-Mar 2014 quarter, leading demand by 4 per cent

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

Q3 Q4

16 14

28

32

1918

32

27

Q3 Q4

25 26

38

2218

41

Q3 Q4

92957

Q3 Q4

9396

Q3 Q4

39 42

41

1517

42

Q3 Q4

2428

41

2528

43

DEMAND SUPPLY

7 7 7

9 9

6

6


In Central Mumbai an over-supply of more than 40 per cent was recorded for propertiesworth Rs 2 crore and Above. Even though this category was the preferred budget range,demand was far less than the existing stock in the market. Moderate demand was noted inthe budget categories of Rs 50-100 lakh and Rs 1-2 crore.

Demand was concentrated for the 1 and 2BHK units with more than 75 per cent buyerpreference for these categories. Supply was more inclined towards the 2 and 3BHK unitswith both categories recording more than 35 per cent each in the current quarter.--

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l The Central Mumbai zone recorded maximum demand for the Rs 2 crore and Above category. Where its demand was 38 per cent,the supply was 79 per cent increasing by 2 per cent over the previousquarter. Demand witnessed an insignificant drop

l Demand and supply mismatch was evident in other categories aswell. While there was a 27 per cent demand for the Rs 1-2 crorecategory, the supply was 14 per cent. Similarly, there was 20 per centdemand for the Rs 50-100 lakh category and only a 5 per cent supply

l Demand for the Rs 20-50 lakh category was 12 per cent, 2 per centhigher than the previous quarter, while its supply was negligible

DEMAND & SUPPLY - Central Mumbai


l Multi-storey apartments continued to record the highest demandand supply of over 90 per cent in Central Mumbai. However, thisquarter witnessed both demand and supply dropping by 3 per centeach. Wadala, Sion, Parel and Sewri registered the maximum supplyof this category in Central Mumbai

l There was a 6 per cent demand and a 5 per cent supply forindependent houses. While demand witnessed a rise of 2 per cent inthe Jan-Mar 2014 quarter, supply rose by 3 per cent. Sion and Wadalarecorded the maximum inventory for this category

l Similar to the previous quarter, demand and supply for residentialplots was negligible in the zone, close to 1 per cent only

BHK wise Analysis

l As seen in the previous quarter, 2BHK units recorded maximumdemand of 41 per cent and supply of 37 per cent. Both demand andsupply witnessed marginal variations over the previous quarter

l Units of 1BHK recorded a considerable demand of 37 per cent, itssupply was only 15 per cent. Such mismatch was also visible in the3BHK category where demand was 19 per cent and supply was 26 per cent in the current quarter

l Supply for larger homes of 4BHK and Above configuration leddemand by 9 per cent. Where supply for the category was 12 per cent, demand was only 2 per cent. Maximum units in thiscategory were supplied in Parel and Wadala

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

Q3 Q4

39 38

27

20

1210

21

27

Q3 Q4

77 79

1417

Q3 Q4

9396

Q3 Q4

9497

Q3 Q4

34 37

41

1921

43

Q3 Q4

15 15

37

37

38

10 12

36

DEMAND SUPPLY

6


In the Western Suburbs the highest demand was noted for properties in the Rs 50-100 lakhcategory followed by the Rs 1-2 crore category. Supply was the highest for properties worthabove a crore with 60 per cent availability. Moderate supply of 25 per cent was also notedfor the Rs 50-100 lakh category.

A rise of 5 per cent was noted in the demand of 1BHK units, the popular category. Eventhough 2BHK units were the second sought after category, demand in the segment fell by 5 per cent. Supply was highest for 2BHK units (41%) followed by 1BHK units (32%).

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l The category of Rs 50-100 lakh recorded maximum demand of 31 per cent in the Western Suburbs with supply at 25 per cent. Bothdemand and supply remained stable in the current quarter

l The Rs 20-50 lakh category recorded a 21 per cent demand and a 15 per cent supply, whereas the Rs 1-2 crore category recorded 26 per cent demand with a 30 per cent supply. Both categories ledtheir respective demand by 4-6 per cent

l The Rs 2 crore and Above category also recorded a considerabledemand of 17 per cent. Its supply was 28 per cent. Maximum supplyfor the same was witnessed in Andheri West

DEMAND & SUPPLY - Western Suburbs, Mumbai


l Demand and supply for multi-storey apartments in the WesternSuburbs was corresponding at 94 per cent. Both demand and supplydipped by 2 per cent each in the Jan-Mar 2014 quarter

l Maximum supply for multi-storey apartments was witnessed inAndheri East and West, Kandivali East and West, Goregaon Eastand West, Borivali West, Malad West, Mira Road and Virar

l Demand and supply for independent houses inched up by 2 per centin the current quarter standing at 5 per cent. Andheri West, MiraRoad and Virar recorded high demand for this category. Residentialplots continued to be the least demanded and supplied category inWestern Suburbs in the current quarter

BHK wise Analysis

l Demand and supply mismatch was visible in almost all BHKcategories in the Western Suburbs. While demand for 1BHK unitswas 47 per cent, highest in the zone, its supply was 32 per cent.Demand led supply by 15 per cent

l For 2BHK units the demand was 38 per cent and supply was 41 per cent. The supply in this category led demand by 3 per cent.While demand for the 2BHK apartments dropped by 5 per cent in thecurrent quarter, its supply witnessed a negligible drop

l Supply considerable exceeded demand in the 3BHK category. Wheredemand was 13 per cent, its supply was 21 per cent, registering a gapof 8 per cent over the previous quarter

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

Q3 Q4

18 17

26

31

2121

31

25

Q3 Q4

27 28

30

2525

31

Q3 Q4

9496

Q3 Q4

9496

Q3 Q4

4247

38

1314

43

Q3 Q4

30 32

41

2122

42

66

DEMAND SUPPLY

14 15

5 5


Maximum demand was seen for properties in the affordable range of Rs 20-50 lakhfollowed by the Rs 50-100 lakh. In line with demand, supply in Navi Mumbai was alsoconcentrated in the budget ranges of Rs 50-100 lakh followed by the Rs 20-50 lakh.Moderate demand and supply was noted for properties in the Rs 1-2 crore budget range.

Almost 88 per cent demand was noted for 1 and 2BHK units with nearly equal demand ineach category. However, 2BHK units recorded the highest supply with 50 per cent. Supplyof the 1BHK units fell short by 12 per cent in the Jan-Mar 2014 quarter.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l Navi Mumbai recorded the maximum demand for the Rs 20-50 lakhcategory. Its demand was 3 per cent higher than in the previousquarter at 42 per cent. Its supply recorded an insignificant dip andstood at 33 per cent

l The category of Rs 50-100 lakh recorded 37 per cent demand and a 46 per cent supply, leading demand by 9 per cent

l The Upto Rs 20 lakh category recorded a 7 per cent demand and anegligible supply. The maximum demand for this category wasrecorded in Kharghar, Ulwe and Vashi. The categories of Rs 1-2 crore and Rs 2 crore and Above recorded a consolidateddemand of 14 per cent and supply of 20 per cent

DEMAND & SUPPLY - Navi Mumbai


l Multi-storey apartments continued to be the most demanded andsupplied property type in Navi Mumbai in the Jan-Mar 2014 quarter.The category recorded 94 per cent demand and 95 per cent supply.While demand for the same recorded an insignificant drop, supplyremained stable since the previous quarter

l Independent houses recorded a stable demand and supply of 4 per cent each. Most of the supply for this category wasconcentrated in Kharghar, Kopar Khairane, Nerul and Vashi

l Demand for residential plots recorded a marginal rise and stood at 2 per cent in the Jan-Mar 2014 quarter. Its supply was insignificantand remained stable at 1 per cent since the last six months

BHK wise Analysis

l Demand for the 1BHK units topped in Navi Mumbai. The categoryrecorded 46 per cent demand. Its supply was 34 per cent and fellshort of demand by 12 per cent in the current quarter

l All other categories recorded supply leading demand. Demand for2BHK units was 42 per cent with supply at 50 per cent, 8 per centhigher than demand. In case of 3BHK units, demand was 11 per centwhile supply was 13 per cent. Units of 4BHK and Above alsorecorded supply leading demand by 2 per cent

l Maximum supply of 2, 3 and 4BHK and Above units wasconcentrated in Kharghar, Kopar Khairane, Nerul, Palm Beach andSanpada in the Jan-Mar 2014 quarter

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

Q3 Q4

12

37

42

76

39

39

12

Q3 Q4

15

46

3332

44

16

Q3 Q4

9495

Q3 Q4

9595

Q3 Q4

44 46

42

1112

43

Q3 Q4

3433

50

14 13

50

DEMAND SUPPLY


The Rs 50-100 lakh category was popular in Thane with the highest demand and supplyrecorded in the zone. An oversupply of 13 per cent was noted in the budget range of Rs 1-2 crore while supply fell short of demand by 17 per cent in the Rs 20-50 lakh category.

Almost equal demand was noted for both 1 and 2BHK units. While 2BHK units recorded ademand of 47 per cent, 40 per cent buyer interest was noted for 1BHK units. Supply,however, was largely concentrated for 2BHK units (47%). Remaining supply was almostequally divided between 1 and 3BHK units.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l The Rs 50-100 lakh category recorded close to 50 per cent demandand supply in Thane. Where its demand was 44 per cent, its supplywas 48 per cent with demand recording a drop of 6 per cent in theJan-Mar 2014 quarter, whereas supply remained constant

l The next preferred category was Rs 20-50 lakh with 27 per centdemand, 4 per cent higher than the previous quarter. However, itssupply was only 10 per cent and recorded an insignificant rise incomparison to the Oct-Dec 2013 quarter

l Demand and supply mismatch was also visible in the Rs 1-2 crorecategory. Supply exceeded demand by 13 per cent for the same

DEMAND & SUPPLY - Thane, Mumbai


l Multi-storey apartments continued to be the preferred category inThane in the Jan-Mar 2014 quarter. While the category recorded 94 per cent demand, its supply was 96 per cent. Demand and supplyfor the same dropped by 1-2 per cent in the current quarter

l Independent houses recorded a nominal increase of 2 per cent indemand in the Jan-Mar 2014 quarter. There was a 5 per cent demandand a 3 per cent supply for this category. Maximum demand wasobserved in Ghodbandar Road and Palghar

l Demand for residential plots recorded an insignificant rise andstood at 2 per cent in the Jan-Mar 2014 quarter. There was negligiblesupply for the category

BHK wise Analysis

l Thane recorded maximum demand and supply for 2BHK units.Supply for the same matched demand at 47 per cent. Smaller homesof 1BHK configuration recorded 40 per cent demand and a 28 per cent supply. Demand led supply by 12 per cent

l The 3BHK category also recorded a mismatch in its demand andsupply with demand at 12 per cent and supply at 22 per cent,exceeding demand by 10 per cent. The maximum supply of 3BHKunits was recorded in Ghodbandar Road, Majiwada and Manpada

l Larger homes of 4BHK and Above configuration recorded negligibledemand but the supply was 3 per cent. Pokhran Road and VasantVihar recorded a considerable supply of the same

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

DEMAND SUPPLY

Q3 Q4

44

27

6

23

50

1918

Q3 Q4

48

109

48

33 32

Q3 Q4

9496

Q3 Q4

9697

Q3 Q4

41 40

47

1212

46

Q3 Q4

2828

47

22 22

47

6 7


Demand and supply in this zone was inclined towards affordable properties. More than 50 per cent demand in locations Beyond Thane was noted for properties priced between Rs 20-50 lakh. Supply was also similarly aligned with nearly 60 per cent availability in thiscategory. Second highest demand and supply was noted in the Upto Rs 20 lakh category.

Nearly 70 per cent demand was noted for 1BHK units, a rise of 9 per cent from theprevious quarter. This was also the highest supplied category with slightly more than 50 per cent availability. Nearly 40 per cent supply was also noted for 2BHK units.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l Demand and supply for the Rs 20-50 lakh category was highest in theBeyond Thane zone. The category recorded 52 per cent demand anda 58 per cent supply. While demand was almost stable since the lastquarter, its supply increased by 5 per cent

l The category of Upto Rs 20 lakh also recorded a considerabledemand of 33 per cent. However, its supply fell short by 5 per centand stood at 28 per cent. Maximum supply of these units wasobserved in Badlapur

l There was a 20 per cent demand and supply for the Rs 50-100 lakhcategory. While its demand was stable, its supply dropped by 4 per cent in the current quarter

DEMAND & SUPPLY - Beyond Thane, Mumbai


l Multi-storey apartments continued to be the preferred and suppliedcategory in the Beyond Thane zone. There was 87 per cent demandwith corresponding supply at 88 per cent. Both demand and supplyregistered a drop of 2-3 per cent in this quarter

l The independent houses category recorded an increased demandand supply by 2-3 per cent in the current quarter. Supply matcheddemand at 8 per cent. The maximum supply for this category wasrecorded in Dombivali, Bhiwandi and Kalyan West

l Demand for residential plots witnessed an insignificant rise in thepresent quarter. Where its demand was 6 per cent, its supply was 4 per cent. Shahapur and Murbad recorded supply for the same

BHK wise Analysis

l This zone recorded a 70 per cent demand and close to 50 per centsupply for 1BHK units. While supply for the same was constantsince the Oct-Dec 2013 quarter, demand increased by 9 per cent

l Demand for the 2BHK units dropped by 8 per cent in the currentquarter, with the supply also registering a drop, thoughinsignificant. There was a 26 per cent demand and a 38 per centsupply for this category with supply leading demand by 12 per cent

l The 3BHK category also recorded a demand and supply mismatch.Where its demand was 3 per cent, its supply was 9 per cent. The4BHK and Above category recorded negligible demand and supply

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

Q3 Q4

12

52

3334

51

12

Q3 Q4

12

58

2829

53

16

Q3 Q4

8790

Q3 Q4

8890

Q3 Q4

61

70

2634

Q3 Q4

5252

39

8 9

38

DEMAND SUPPLY

55

85

6 8


A significant over-supply of nearly 30 per cent was noted for luxury properties in thebudget range of Rs 2 crore and Above. Second highest supply was also noted for propertiesin the range of Rs 1-2 crore. Demand in localities along the Harbour Line was uniformlydistributed. The highest demand (28%) was noted for the Rs 20-50 lakh range.

Almost equal demand was noted for 1 and 2BHK units (42% each). Supply, however, wasthe highest for 2BHK units (37%). Almost similar supply was noted for 1 and 3BHK units(24%approximately).

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-50 lakh

Rs 50-100 lakh

Rs 1-2 crore


DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l The Harbour Line zone recorded maximum demand for the Rs 20-50 lakh category. Where its demand was 28 per cent, its supplywas 17 per cent. Demand led supply by 11 per cent

l The categories of Rs 50-100 lakh and Rs 1-2 crore recorded close to 20 per cent demand each. Supply for the Rs 50-100 lakh category fellshort of its demand by 7 per cent

l The Upto Rs 20 lakh and the Rs 2 crore and Above categoriesrecorded a demand of 15 per cent each. Supply for the Rs 2 crore andAbove category led its demand by 28 per cent, whereas supply of theUpto Rs 20 lakh category fell short by 9 per cent

DEMAND & SUPPLY - Harbour Lane, Mumbai


l Harbour Line recorded close to 85 per cent demand for multi-storeyapartments with an almost corresponding supply, at 93 per cent.Both demand and supply registered a 2 per cent drop

l The independent houses category recorded a 12 per cent demand, 2 per cent higher than the previous quarter. With 6 per cent supply,demand led supply by 6 per cent in the Jan-Mar 2014 quarter.Chembur, Panvel and Govandi recorded the maximum supply

l Similar to the previous quarter, demand for residential plotsremained limited and constant at 2 per cent. Its supply wasnegligible. Panvel had the maximum inventory for plots on theHarbour Line

BHK wise Analysis

l Both, 1BHK and 2BHK categories, recorded an almost equal demandof 42-43 per cent on the Harbour Line. Where demand for the 1BHKcategory led supply by 20 per cent, demand for the 2BHK categoryled by only 5 per cent

l Such mismatch was also evident in the demand and supply of othercategories. While demand for the 3BHK units was 13 per cent, itssupply was 24 per cent. In this category, supply led demand by 11 per cent

l Supply of the 4BHK and Above category exceeded demand by 14 per cent. Where its demand was only 2 per cent, its supply was 16per cent. Chembur recorded the maximum demand for this category

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Residential house

Residential plot

DEMAND SUPPLY

Q3 Q4

20

28

17

28

22

2219

Q3 Q4

13

1715

13

2521

Q3 Q4

8688

Q3 Q4

9395

Q3 Q4

40 43

42

1314

43

Q3 Q4

2321

36

28 24

37

41 4314

15

15

6 6

10 12 6

15 16

CAPITAL VALUES – LOCALITY WISE

Average Listed Residential Apartment Prices

Airoli 8150 to 10100

Andheri East 14150 to 18050

Andheri West 18550 to 23850

Badlapur 3000 to 3550

Bandra West 35950 to 47050

Bhandup West 12100 to 15550

Bhayandar East 6450 to 7600

Borivali East 11300 to 14300

Borivali West 13050 to 16150

Chandivali 15200 to 18200

Chembur 15200 to 19450

Dahisar East 9000 to 11350

Dombivli 4650 to 5400

Dombivli East 4450 to 5550

Ghansoli 7400 to 9450

Ghatkopar West 14700 to 17700

Ghodbunder Road 8000 to 9850

Goregaon East 13250 to 16850

Goregaon West 13450 to 17250

Hiranandani Estate 11350 to 15100

Juhu 27900 to 36200

Kalyan 4850 to 6000

Kalyan West 4800 to 5950

Kamothe 5600 to 6500

Kandivali East 12800 to 16200

Kandivali West 12050 to 15350

Kanjurmarg West 10600 to 12650

Karanjade 4200 to 5000

Kasarvadavali 7450 to 8900

Khar West 33500 to 42750

Kharghar 6500 to 8200

Kolshet Road 8850 to 10500

Koper Khairane 8400 to 10400

Lower Parel 30950 to 40900

Mahalakshmi 35700 to 45550

Majiwada 9750 to 12250

Malad East 12000 to 14750

Malad West 13650 to 17250

Manpada 9700 to 11450

Mira Bhaiyandar Road 6500 to 7700

Mira Road 6500 to 7900

Mulund East 13100 to 16350

Mulund West 11500 to 14900

Nallasopara 3850 to 4650

Nerul 9750 to 12900

New Panvel 3750 to 4950

Palm Beach 14300 to 17900

Panvel 4200 to 5400

Parel 25000 to 35450

Pokharan Road No. 2 10350 to 12550

Pokhran Road 10100 to 12350

Powai 15850 to 19850

Prabhadevi 33700 to 44400

Road Pali 5250 to 6200

Sanpada 11200 to 14400

Santacruz East 17300 to 21450

Santacruz West 29150 to 38300

Seawoods 8850 to 11200

Sewri 32350 to 38150

Taloja 3800 to 4600

Taloje Panchanand 3800 to 4400

Thane West 8950 to 11450

Ulwe 4650 to 5550

Vasai 4450 to 5550

Vasant Vihar 10550 to 13100

Vashi 9250 to 12050

Vile Parle East 21550 to 27100

Virar 4100 to 5000

Wadala 18250 to 22900

Worli 31800 to 41750

Locality Capital Values (Rs/Sq feet)

Locality Capital Values (Rs/Sq feet)

MUMBAI


VOL3, ISSUE 4; JAN-MAR, FY 2013-14propindex.magicbricks.com

D I S C L A I M E REvery effort has been made to make this Index as complete and as accurate as possible. MagicBricksaccepts no responsibility for inaccuracies in the information/data contained in this book. It shall haveneither liability nor responsibility to any person or entity with respect to any loss or damage caused, oralleged to have been caused, directly or indirectly, by the information contained in this book. Theinformation/data in this book is subject to change from time to time due to market condition.

CONTACT US

l Post your feedback to -

propindex @timesgroup.com

l Join our discussion forum at -

openhouse.magicbricks.com

l For business enquiries -

[email protected]

PROPINDEX TEAM

l Content & Research: E Jayashree Kurup,

Dipti Tandon, Subodh Kumar, Rishab Jain,

Kanchana Dwarkanath, Sruthi Kailas,

Shradha Goyal, Neha Nagpal, Bhawna Mongia,

Renu Arya, Aradhana Mozumdar, Girish Bindal,

Puneet Kukreja & Bikash Kumar.

l Layout Design: Harsha Khattar

l Cover Page Design: Raghav Krishnan &

Rahul Nair

mumbai - magicbricksproperty.magicbricks.com/microsite/buy/propindex/images/jan-mar... · of...

Documents