PropIndex | Magicbricks

Residential Market Insights

Industrial development and public transport driving growth to peripheral areas of Pune

Pune residential prices have mostly remained stagnant in the last 5 years, as the city's real estate market moved toits peripheral areas due to industrial development,connectivity, and affordability.

City's prices declined marginally by about 1.6% in Q2 2020 primarily due to COVID-19 impact. However, the marketperformed relatively well in comparsion with other major cities in India, witnessing ~700 property registrationswithin a week of opening the registration offices post the lockdown.  Additionally, a specialized program run byNAREDCO since last month, to train and employ workers from nearby areas in Pune, helped resuming constructionactivities affected by lockdown. This would help maintain supply of housing units and meet the MahaRERA deadlines.

5 YearChange YoY QoQ

-1.6%-1.9%3.5%

5 YearChange YoY QoQ

-1.4%-1.2%1.3%

"Development inmostly the peripheralareas has kept

under-constructionprices flat in the long

term"

PuneApr-Jun 2020

Parameters India Pune

Demand+ -27% -39%Supply++ -43% -53%Price Index+++ -1.5% -1.6%

"Price of ready-to-move(RM) segment grewjust 3.5% in the last 5

years"

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Kolte-Patil Developers

Godrej Properties

Kumar Properties

Pride Purple Properties

Marvel Realtors

VTP Realty

Paranjape Schemes Construction

Mantra Properties

Nyati Group

Goyal Ganga Group

Nanded City Sinhagad Road

Lodha Belmondo Mumbai Pune Hwy

Rohan Mithila Viman Nagar

Xrbia Hinjewadi Hinjewadi

Little Earth Ravet

Life Republic Hinjewadi

Bhavani Park Society Aundh

Madhukosh Sinhagad Road

Hari Ganga Vishrantwadi

Marvel Zephyr Kharadi

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Reduction in stamp duty by 1% in Punefrom April 2020 till March 2022, toencourage home buying 

- Large investments in industrial andlogistics sectors are expected in Pune,under the freshly launched 'Made InMaharashtra' campaign. This isexpected to specially benefit theperipheral areas such as Talegaon andChakan. 

- Upcoming metro lines and ring road toenhance connectivity to peripheralareas of Wagholi, Nanded, Pirangut,Khed Shivapur, and Loni Kalbhor; furtherincreasing demand in these areas.

"Prices in theestablished suburbsand upmarket areasdecline by 1.5%- 2.5%QoQ, while prices inother areas remained

flat"

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

Price Bracket (INR per sqft)

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

RM UC RM UC RM UC RM UC

-0.3%

-0.6%

-1.6%-1.5%

-0.1%

-0.9%

-2.6%

-1.3%

Key Projects

Key Developers based on activelistings

Project Name Locality

Average Price INR per sqft

Average Price INR per sqft

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q2 2020

Source: Magicbricks Research

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q2 2020

Source: Magicbricks Research

Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research

Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city.

Source: Magicbricks Research

Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on June 2020

Source: Magicbricks Research

Page 1© magicbricks.com

1 BHK27%

2 BHK47%

3 BHK21%

Above 3 BHK5%

DEMAND

Demand Supply Analysis Pune | Apr-Jun 2020

Demand-supply matchs across all price brackets

Demand shifting to 1BHK configurationsIndustrial development drivingdemand to peripheral areas

Pune has a balanced market, with demand in linewith the supply, for most of the BHKconfigurations. Pune market is well distributedacross affordable and mid segments, with 2 BHKshaving the largest share of the demand andsupply, while 1 and 3 BHKs contribute almostequally to the pie.   

  "2 BHK in the price range of INR5,000 and 7,500 per sqft,

continues to be Pune's dominantproperty search criterion"

 

- There was a rise in demand for peripherallocalities priced below INR 5,000 per sqft such asDhanori-Lohegaon, Talegaon, Chakan, Wagholi,Handewadi, Vadgaon Budruk, and HinjewadiPhase 3 due to growing industrial and IT/ITeSpresence surrounding these areas, along withplanned infrastructure projects to easeconnectivity. - Localities surrounding IT/ ITeS hubs, such asMagarpatta, Baner, Bhosari, Yerwada, Kharadi,and Aundh which are priced in the range of INR5,000-10,000 per sqft, made up aroundtwo-thirds of the total demand. These localitiesrepresent prominent suburbs of Pune, and wouldcontinue to witness high demand in the nearfuture, owing to an expected recovery in the ITand telecom sector amongst others, post theCovid crisis.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searches andlistings by localities

1 BHK18%

2 BHK53%

3 BHK25%

Above 3 BHK4%

SUPPLY

7,500-10,00016%

5,000-7,50049%

> 10,0006% < 5,000

29%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

7,500-10,00015%

5,000-7,50041%

> 10,0008%

< 5,00036%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by BHK configuration

Source: Magicbricks Research

.Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by price buckets

Source: Magicbricks Research

Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q2 20202. 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.

Source: Magicbricks Research

Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.

Source: Magicbricks Research

Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.

Source: Magicbricks Research

Sinhagad Road

Hinjewadi

HadapsarBhugaon

Wagholi

Chikhali

Dhayari

Bhosari

Chakan

Pashan

Pimpri

Katraj

Moshi

Ravet

Undri

Sus

© OpenStreetMap contributors

Demand/SupplyDemand

Hadapsar 3900 - 10100

Airport Road 5200 - 12050

Dhayari-Narhe 3250 - 8000

Baner 5250 - 9250

Kondhwa-Wanwadi 4400 - 10900

Paud Road 4650 - 12350

Wakad 5200 - 8950

21

12

53

44

35

66

77

Baner 5250 - 9250

Hadapsar 3900 - 10100

Airport Road 5200 - 12050

Wakad 5200 - 8950

Hinjewadi 4250 - 6750

Undri-Pisoli 3550 - 7450

Paud Road 4650 - 12350

21

42

13

54

65

76

87

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

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

Page 2© magicbricks.com

Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 20202. Color of the bubble represents price change in Q2 2020, with green color representing price increase and red color price decrease.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.

LocalityAvg.Price

PriceChange

Chakan

Loni Kalbhor

Talegaon Dabhade

Raghav Nagar

Pirangut

Alandi

Shivane

Pisoli

Handewadi

Handewadi Road

Vadgaon Budruk

Phursungi

Narhe

Kiwale

Sasane Nagar

Moshi

-1.9%

-2.2%

0.3%

2.3%

1.1%

-2.2%

-1.2%

-2.8%

-2.1%

-4.0%

2.8%

-1.7%

3.1%

-1.8%

0.3%

1.7%

2.2%

-7.0%

-1.4%

-3.7%

-2.0%

4,998

4,996

4,972

4,870

4,867

4,827

4,824

4,729

4,687

4,657

4,608

4,519

4,421

4,354

4,344

4,225

4,121

4,014

3,991

3,588

3,518

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

Price Analysis Pune | Apr-Jun 2020

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

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

LocalityAvg.Price

PriceChange

B.T Kawade Road

Baner

Pimple Nilakh

Wanwadi

Bibwewadi

Baner-Pashan Link Rd

Amanora Park Town

Yerawada

New Kalyani Nagar

Market Yard

Viman Nagar

Magarpatta City

Gangadham Road

Camp

Gultekdi

Ghorpadi

-1.4%

-6.2%

-7.5%

-1.3%

-1.2%

1.7%

1.2%

-4.1%

3.4%

-5.5%

5.4%

1.7%

0.9%

2.4%

-1.5%

4.2%

-1.7%

-1.1%

-5.1%

-2.6%

2.2%

-1.6%

1.0%

9,994

9,785

9,697

9,683

9,615

9,299

9,176

9,081

9,059

8,761

8,472

8,454

8,301

8,280

8,239

8,016

8,016

7,764

7,715

7,714

7,690

7,595

7,520

LocalityAvg.Price

PriceChange

Sadashiv Peth

Koregaon Park

Erandwane

Model Colony

Shivaji Nagar

Karve Road

Boat Club Road

Law CollegeRoad

Prabhat Road -1.0%

-5.5%

-7.5%

-1.6%

2.2%

0.2%

-5.6%

-1.9%

-6.7%

14,939

13,733

13,117

13,098

12,644

12,574

12,094

10,871

10,011

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q2 2020. 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 segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represent the price change in Q2 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

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 acceptany 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.

Q2 2020 Price changes for the city's major localities

LocalityAvg.Price

PriceChange

Chikhali

Marunji

Charholi Budruk

Paud Road

Kondhwa Budruk

Lohgaon

Dhayari Phata Rd

Mamurdi

Manjri

Katraj Kondhwa ..

Dhankawadi

Ambegaon Budruk

Manjri Budruk

Hinjewadi Phase 3

Punawale

Gahunje 0.5%

-2.3%

-3.7%

-2.4%

0.5%

2.7%

-2.3%

2.0%

-2.5%

-2.2%

-2.7%

-7.5%

1.1%

3.1%

-0.9%

0.5%

5,377

5,349

5,274

5,271

5,249

5,242

5,219

5,205

5,160

5,148

5,127

5,123

5,109

5,108

5,034

5,000

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research Analystsurabhi.arora@magicbricks.com devendra.lohmor@magicbricks.com ankur.upadhyay@magicbricks.com deepak.rajput@magicbricks.com

Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

For more information and research related queries, please contact:

Talegaon Dabhade-1.4%

Hinjewadi Phase 3-3.7%

Charholi Budruk3.1%

Loni Kalbhor-3.7%

Dehu Road-1.9%

Phursungi-4.0%

Bhugaon-1.1%

Pirangut2.2%

Wagholi2.3%

Gahunje0.5%

Chikhali0.5%

Shivane0.3%

Dhayari1.1%

Bhosari2.4%

Pimpri-6.5%

Manjri2.0%

Aundh1.2%

Alandi1.7%

Katraj-1.1%

Moshi-2.2%

Camp-5.5%

Pisoli-1.8%

Sus-0.8%

© OpenStreetMap contributors

-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%

Page 3© magicbricks.com