trends for affordbale housing destintion 2016
TRANSCRIPT
DIGITAL TRENDS 2015-16
Affordable Housing Destinations of India
February 2016
Affordable Housing has been gaining momentum right from the day Union Government envisioned ‘Housing for All by 2022’. In the current market scenario as well, it appears that only Affordable Housing has managed to create some buzz. Various media reports indicate surge in affordable housing sales in past couple of quarters. Many state governments too, are planning to launch ‘Affordable Housing Schemes’. All these developments inspired us for this research report
The objective of this report was to understand the pan India search trends for Affordable Housing and to identify potential markets for such projects a developer can target
Appropriately, we focused on online trends in various markets for affordable housing category to calculate search per month per market. This also helped us analyze the year-on-year growth of affordable housing and to forecast the trends for year 2016
Search Volume
• The search trend suggests that the overall affordable housing demand in year 2015 increased to almost double as compared to the last year
• The demand started on a low note but it picked up as the year progressed and was maximum in the month of July 2015
• The overall response was distributed almost evenly throughout the year
Key Markets
• Maharashtra topped the chart with 26.4% of overall affordable housing searches in year 2015, followed by Karnataka (18.8%) , Tamil Nadu (9.3%), Telangana (9.1%) and Haryana (2.8%)
Technology Specific
• Mobile contributes 30% of the overall affordable housing project searches. It indicates that these searches are originating from end users
• Computer searches are still holding the key, which implies that digital is the second search medium at the moment for affordable housing schemes
Delhi/NCR
• Overall the search trends for affordable housing projects grew as the year progressed and was maximum in the month of July after which it started dipping. The last month (December), again witnessed some improvement
• Overall demand of the affordable housing was almost 35% higher then the last year
Delhi accounts for 72.8% of the overall demand graph followed
by Gurgaon (14.6%), Noida (7.8%), Ghaziabad (3%) and
Faridabad (1.1%).
Maharashtra
• 50% YoY growth recorded for affordable housing projects
• Better placed then Delhi/NCR in terms of overall searches and demand for the affordable housing projects
• Overall market was poised evenly throughout the year with a slow start in the month of Jan – Feb
Mumbai accounted for 51% of the overall searches followed by Pune (20%), Pimpri-Chinchwad (8%), Navi Mumbai
(7.9%) and Thane (3.6%)In terms of overall affordable housing
demand curve, Pune market shows more growth perspective followed by Thane,
Navi Mumbai and Pimpri-Chinchwad
• 65% YoY growth recorded for affordable housing projects
• It started on a lower note but picked as the year progressed and recorded highest growth between June and August and gradually stabilized as year progressed
Gujarat
Ahmedabad accounted for 48.9% of the overall searches followed by Surat
(14%), Vadodara (10.3%), Rajkot (7.1%) and Anand (3.2%)
In terms of overall demand curve, Surat is a better poised market
followed Ahmedabad and Vadodara.
• 100% YoY growth recorded for affordable housing projects
• Overall searches for the affordable housing project outside Punjab remained low. Local markets hold potential and can be revitalized
Punjab
Jalandhar accounted for 15.6% of the overall demand followed by Amritsar (14.9%), Sahibzada Ajit Singh Nagar
(14.9%) and Ludhiana (13.1%)In terms of overall demand curve Ludhiana appears a better poised
market followed Jalandhar
• 130% YoY growth for affordable housing projects
• Overall searches outside Rajasthan remained low contrary to local market which appeared doing better at the moment
Rajasthan
Jaipur accounted for 58.1% of the overall demand followed by
Udaipur (8.8%), Jodhpur (6.9%), Kota (4.5%) and Ajmer (3.8%)
All three prime markets are evenly poised, Kota is picking up whereas
Ajmer is still lacking with less number of project in the location
• 100% YoY growth recorded• Local market in Madhya Pradesh seemed
to be doing good at the moment
Madhya Pradesh
Indore accounted for 36.5% of the overall searches followed by Bhopal (32.3%), Gwalior (12.2%), Jabalpur
(6.2%) and Sagar (2%)Bhopal is picking up as a major
destination for overall affordable housing demand followed by Indore and
Gwalior
• More than 100% growth recorded on YoY basis
• It started better than the previous year but dipped as year progressed. Overall demand was huge from Feb to April period and dipped afterwards
Haryana
Gurgaon accounted for 78% of the overall searches followed by Faridabad
(6.7%), Karnal (1.2%), Rohtak (.09%) and Panipath (0.7%)
Gurgaon holds the key for all affordable housing demand at the moment. With
more announcement from Government one can expect Faridabad to pick-up in
months to come
• The YOY growth remained around 20%• Overall search volume is very less, but
spikes show a little hope for affordable housing project. As overall digital uses are less in the region, the demand graph suggests that affordable housing market should pick in coming months
Chhattisgarh
Raipur accounted for 43.4% searches followed by Bhilai (16.5%), Bilaspur (14.9%), Korba (10%) and Raigarh
(4.4%).Raipur holds the key at the moment, but
Korba and Raigarh shows more affordable housing demand vis-a-vis
overall property searches.
• The YOY recorded around 10%• Overall search for the affordable housing
project increased in the region with April, May and June being the most favorable months
Uttar Pradesh
Noida accounted for 37.1% of the overall searches followed by Lucknow (20.9%),
Ghaziabad (12.5%), Kanpur (5%) and Meerut (1.5%)
Noida holds the key for affordable housing destination in Uttar Pradesh, but Ghaziabad and Meerut are also picking
up
• The YoY growth remained 10%• Overall search is very less in the region
and demand graph is almost same as last year. It shows that nothing much is happening in the region for affordable housing at the moment. The assembly elections can be one of the reasons for this
Bihar
Patna accounted for the majority of the searches (58%) followed by Samastipur
(1.8%) and Purnia (1.3%)Very less activity for affordable housing
project in all regions at the moment
• The YoY growth remained only 10%• Overall search volume is very low at the
moment. August saw seen some peek, although it was consistent around the year
Odisha
Bhubaneswar accounted for 64.5% of the overall searches followed by Cuttack (9.6%), Rourkela (7%), Brahmpur (2.1%)
and Sambalpur (1%).Bhubaneswar is picking up as an
affordable destination in the entire region
• The YOY growth recorded around 30%• Overall searches were consistent
throughout the year. West Bengal market seems to be quite positive with overall affordable housing demands
West Bengal
Kolkata accounted for 87.2% of the overall searches followed Kharagpur
(4%), Howrah (3.2%), Durgapur (1.3%) and Siliguri (1.1%)
Kolkata seems to be the hot spot for affordable housing project at the moment followed by Kharagpur
• The YOY recorded 30%• Overall search demand is very low in all
the seven states but the good thing is that the market is picking up. The overall data set is very low to assess the market potential, but it has the positive growth trend
North-East
Assam accounted for 79% of the overall searches followed by Manipur (7%), Tripura (6.9%), Mizoram (4.5%) and
Nagaland (1.6%)Assam seems to be picking up as a
location for affordable housing
• The YOY growth remain 10%• Overall search trends remained quite
consistent around the year. The market is still moving on the positive momentum
Tamil Nadu
Chennai accounted for 76.8% of the overall affordable housing demand
followed by Coimbatore (9.4%), Madurai (1.4%) and Tiruchirapalli (1.1%)
Chennai seems to be a good market for overall affordable housing demand
followed by Coimbatore as an emerging destination.
• The YOY (Not specified)• Overall search trends around the year
was constant, but less performing than Tamil Nadu when it comes to affordable housing searches. Overall the market is evenly poised
Andhra Pradesh
Vijaywada accounted for 17.9% of the overall searches followed by
Visakhapatnam (17.7%), Guntur (7%) and Kakinada (6.9%)
Vijaywada seems to be emerging as an affordable housing hub
• The YOY (Not specified)• Overall search trends are evenly poised
throughout the year. There is a huge demand of affordable housing project in the region
Telangana
Hyderabad accounted for 89.3% of the overall searches followed by
Secunderabad (9.8%) and Warangal (0.8%).
Hyderabad seems to be a hot destination for overall affordable housing demand.
• The YOY remained around 65%• Overall affordable housing demand has
grown many fold and was consistent throughout the year
Karnataka
Bengaluru accounted for 95% of the overall searches followed by Mysuru
(1.3%) and Mangaluru (0.6%)Bangalore seems to be the hub of
affordable housing market in today’s time
• The YOY recorded around 5%• Overall search trend was not that high
but consistent throughout the year. The trend seems to be following a consistent path compared to last year
Kerala
Kochi accounted for 28.5% of the overall market followed by
Thiruvananthapuram (24.1%), Thrissur (6.7%), Kozhikode (6.5%) and Kottayam
(4.8%)Though Kochi is leading the affordable
housing demand but Thiruvananthapuram is emerging as a hot destination for affordable housing
demand
• Maharashtra, Karnataka, Tamil Nadu, Telangana and Haryana are the hot-spots for the affordable housing demands
• Delhi/NCR market has shown a visible demand for the overall affordable housing projects followed by Bangalore and Hyderabad
• Other markets like Pune, Vijayawada and Chennai also showed positive trends with huge search references
• Tamil Nadu and Andhra Pradesh are still guided by the local requirements and overall resurgence is visible for affordable housing project
• The overall capitalization value in the north-west region lies with Rajasthan, Gujarat, Punjab, Uttar Pradesh and Haryana
Key Inferences
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