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We are delighted to share that PropIndex has completed a year!
It has been an eventful year for us, in our quest to support a data-driven decisionmaking approach while investing in the real-estate sector. This anniversary issue isspecial and has lots extra -
l CREDAI has joined hands to make this issue special. Find commentaries fromvarious city units of CREDAI on their interpretation of market performance.
l “User Demand Analytics” has been expanded - find analysis of User Demand atSuburb level; plus we initiate “Top 10 Localities” in each city; and much more.
l We’ve expanded the coverage of localities for Capital Values to 620+.
Despite tight monetary conditions and slow offtake, values of residential propertymaintained a growth of 8-10% across cities. As a result, 9 of the 11 indexed citiesshowed a rise in the property index values. However, the cash-squeezed consumer madeshifts towards the suburbs in search of lifestyle and better deals. While broad priceranges were present at the macro level, only properties that were being actively soughtby buyers were being listed for sale. Rental markets swung to infrastructure beats androse on better transport connectivity.
We’re also happy to let you know that Magicbricks.com continues to consolidate itsmarket leadership position – we continue to gain market share every quarter. Activeclients now number 7000+; the site gets 40 lakh visits per month; and now throws up onaverage 80,000 enquiries per day! As you read this issue, we would have launched a newsection on our site to focus on “New Projects” (www.newprojects.magicbricks.com). Wecontinue to look forward to your support to make these new launches successful!
On our first anniversary, we wish to thank our readers, the developer and agentcommunity; many of whom shared feedback and pushed us to improve ouranalytics/content – and thereby helped to shape PropIndex into what it is today. We’vereceived heart-warming testimonials from Industry Stalwarts, and this continues toencourage us to work harder to make PropIndex even better. We solicit your feedbackfor the current issue - please do write in!
FOREWORD
Sudhir PaiBusiness Head, [email protected]
“The progress of sectors have been aiding the phenomenalgrowth of the Indian economy and are one of the majorcontributors to the emergence of the GDP initiation of thecountry. Now we need benchmark value indicator in thereal estate industry across the country which can guideconsumer and assist developers in analysing city rates andtrends. A shining case study in this parlance is the RealEstate sector of Hyderabad wherein revolutionary reformsin realty bye-laws along with proactive measures like theconcept of FSI, prescription of uniform setbacks for alltypes of use of buildings, density and ground coverage ofplot, permission on height of the building with reference to
plot size and the abutting road width and allowance of liberal multi-level parking havehelped the Hyderabad real estate sector to reach the zenith of the Indian realty boom.Magicbricks PropIndex provides structured and transparent matrix and I am lookingforward to consider these case studies as Benchmark in such reports. We congratulateMagicbricks.com for completing one year for this report and look forward for moreknowledge initiatives and reports from the Group.”
INDUSTRY VIEWPOINT
Lalit Kumar JainPresident, CREDAI National &Chairman, Kumar Urban Development Ltd. (KUL)
The market is mature and there is no speculation at thispoint of time. We expect that in the coming times, this willcontinue as the demand and supply ratio will remainbalanced. The investors are aware that the appreciation isa gradual process and properties will appreciate at a goodrate provided one can hold the investment for 2 to 3 years.Your magazine is a well produced, interesting andinformative package that makes it a delightful read. Thepresentation of the magazine is very attractive andcolourful, making it easy to go through. The articles aremostly supported by researched facts and figures, with thedifferent sections well thought-out and these should prove tobe popular among professionals from all walks of business and marketing.
Navin RahejaPresident, NAREDCO &
CMD, Raheja Developers
CREDAI NATIONAL PRESIDENT
NAREDCO PRESIDENT
MagicBricksPropIndexMagicBricks.comPropIndex is a tool whichempowers propertyseekers and investors withdetailed information onthe movement ofresidential apartmentprices and supply ofproperties in India. Nocredible property indexcan be a function of directvalues as the changes aregoverned by multiplefactors.
MagicBricks.comPropIndex has taken thisreality into account andproduced an index basedon listing of apartmentsand their capital andrental values on thewebsite.
MagicBricks.com has over 4 lakh active propertiesposted by more than1,00,000 active users in 300cities and 3,500 localities.Our users include owners,agents and developers.
MethodologyApartment values andlistings on the basis of theMagicBricks.comPropIndex. These includemultistorey apartmentsand single units on plotteddevelopments, referred toas builder floors onMagicBricks.com.
The Index is structured in
such a way that individualproperties are aggregatedinto respective cities andthen to the National Index.Weightages for PropIndexare based on the supply ofproperties within thelocality/city. Based on thisstructure, PropIndex givesa realistic picture oftrends in price/supplyacross different propertymarkets in each city. Wehave used differentweightages for PriceMonitor/Rent Monitor.Therefore, read as a whole,PropIndex along withtables provided for PriceMonitor, Rent Monitor,Yield Monitor and CapitalValues. PropIndex gives anexcellent perspective ofthe property marketperformance in thequarter.
While listing and itsvalues/supply provide alevel of understandinginto the market, there aremeticulous data checks toprevent aberrationscreeping into the Index.These are based onstatistical calculations andlogical interpretations.
The National PropertyIndex (NPI) is indicative ofthe extent of activity aswell as price movementsacross cities and localitiesin the major cities activeon MagicBricks.com. Theindex includes the top 11cities (these have been
chosen based on theiractivity levels) and has anindividual city report foreach of these cities. Whilethe NPI and its movementsare of interest to theexpert community ofbankers, builders andinvestors, the PropIndexhas also taken care toexplain the nuances ofindex movements at thelocality level that wouldhelp the huge base ofMagicBricks.comconsumers.
Insights into consumerdemand have beengathered through analysisof search information onthe site. This helpsunderstand the bestlocalities by demand, thetype and configuration ofunits as well as the budget-wise preferences.
The PropIndex is the resultof meticulous research atthe locality level andthrough detaileddiscussions with experts atMagicBricks.com’s offlineand online initiatives.
The Indian real estatemarket is dynamic and thePropIndex reflects thosechanges. Since it is derivedfrom a dynamic database,additions and deletions oflocalities happen as afunction of marketdynamics.
METHODOLOGY
There is a wealth of information within these pages. For better readability, we have presented somedata as tables and others as graphs. Between them, you will find how property markets haveperformed in the Jan-Mar 2012 quarter from many different perspectives – from that of capitalappreciation, from a rental/yield realization perspective and from the stand of supply of properties.Also understand what consumers want in the Demand Analysis section.
We recommend that you evaluate the city report in its entirety and that will provide a roundedperspective of the performance of the property market within each city. Here are details of whatyou will find in each of the city reports enclosed within -
1. City Property Index - This is a composite index which is a function of supply of properties aswell as the average capital appreciation/drop in various localities of the city in the quarter. Thecity index is the weighted average of the average rate per square foot in that locality and thesupply of properties from that locality. Premium localities (with higher average rate per squarefoot) as well as localities with higher supply of properties will have a bigger impact on theIndex. For example, if the supply of properties from a premium locality drops, that locality willend up having a lower weightage in the index which in turn will push the Index downwards(and vice-versa). On the other hand, supply of properties remaining unchanged, the index willbe influenced by capital appreciation within the locality.
2. Price Monitor - This reflects the capital appreciation/drop within a locality. It is calculated onthe basis of movement in the “average rate per square foot” within that locality. By and large, the movement in the “average rate per square foot” reflects capital appreciation/drops. However, in a few select cases, we have observed that the average rate per square footmoves due to a change in the mix of apartments within that locality (e.g. if the ratio ofpremium apartments, which command a higher per square foot rate, changes over the quarter).In these few circumstances, the Price Monitor will, in turn, reflect this input. Such changeshave been explained in the text of the City Reports.
3. Rent Monitor - This reflects the rental appreciation/drop within a locality. It is calculated onthe basis of movement in the “average rent per square foot” within that locality. By and large, the movement in the “average rent per square foot” reflects rentalappreciation/drops. However, in a few selected cases, we have observed that the average rentper square foot moves due to a change in the mix of apartments within that locality (e.g. if theratio of premium apartments, which command a higher per square foot rent, changes over thequarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Suchchanges have been explained in the text of the City Reports.
4. Yield Meter - Yield is the annual rate of return earned on property. The Yield Meter depictsthe gross yield percentages across various localities. Gross yield is a ratio of average annualrental value to the average capital value of the property.
5. Capital Value Tables (given in Annexures) - This shows the actual range of prices withinwhich properties were available in each locality in the quarter. Prices are shown in rupees persquare foot basis; these are the prevailing rates for properties in each locality.
6. Demand Analysis - This analysis of consumer demand is based on searches and requirementsthat users have performed on MagicBricks.com. The top localities by demand gives an insightinto consumer peferences. The demand data has been used to arrive at various aspects ofconsumer requirements including Budget-wise analysis, Property type analysis and BHKconfiguration analysis.
GLOSSARY & DEFINITIONS
JAN-MAR 2012
The National Property Index(NPI) went up by over 2% in theJan-Mar 2012 quarter compared toOct-Dec 2011 quarter.
The NPI is a weighted average ofsupply and prices across 11 citiescovered in India.
Out of 11 cities in the ApartmentIndex, 8 cities have seen a rise.These include Delhi, Kolkata,Bangalore, Pune, Ghaziabad,Gurgaon, Hyderabad and Noida.Delhi and Kolkata topped the CityIndex chart by registering 9% and8% increase respectively.Ghaziabad, Bangalore, Gurgaonand Pune witnessed a 4-5% risefollowed by Hyderabad and Noida(1-3%). Ahmedabad showed stableindex values. On the other hand,Mumbai and Chennai witnessed aminimal drop of 1-2%in the Jan-Mar 2012 quarter.
The NPI is a weighted average ofcity indices. Mumbai, Gurgaon,Pune and Bangalore remained themajor contributors to the NPI.
The MagicBricks.com PropIndexis based on dynamic data minedfrom the portal to show the levelsof supply and the type of propertylisted in each locality. These arecleaned with complex algorithmsto remove outliers and arrive atthe index values for locality, cityand national levels. The Index isimpacted by the number and theaverage price of properties ineach locality and the locality’sweightage in the city.
This is based on its contributionto the city’s property databank.The listings on the website are byend users and market players andthe Index is based on a mix ofnewly developing and establishedlocalities.
New and old constructions alsoform part of the listings. Thecomposite index value of a citydraws from the changing indexvalues of different localities.Localities that were more activecompared to others can contributesignificantly to the index values ofthat city.
This Index is reflective of trendsacross multistorey and singlefloor apartments (commonlyknown as builder floors).
n National Property Index(NPI) rose over 2%
n Transport connectivity andaffordability remained topcriteria among consumers
n Majority of consumerdemand exists for propertyworth upto Rs 60 lakh
n Ready-to-move-in andproperty near completionstage are maximum indemand
IN THIS REPORT:
National Property Index...............1Delhi.........................................4Gurgaon....................................9Noida & Ghaziabad................... 15Mumbai....................................22Pune........................................28Ahmedabad..............................33Kolkata...........,........................ 37Chennai....................................42Hyderabad................................47Bangalore.................................52Annexures.................................61
NATIONAL PROPERTY INDEX (NPI)
ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
JAN-MAR 2012
NATIONAL PROPERTY INDEX
There are certain commonthreads across the city:
l Cities have witnessed migrationof working population toaffordable locations in thesuburbs with good connectivityand availability of propertieswith all new modern lifestylefeatures.
l Cities continued to witnessgood demand for properties inand around commercial centresfor both outright purchase aswell as rentals.
l Improvement in infrastructurefacilities such as roadwidening, opening of newtransport connectivity such asmetro rail and other proposedprojects exhibited positiveimpact on capital as well asrental values.
l Increasing land acquisitioncost, construction cost and tightmonetary policies were some ofthe main deterrents for ahealthy growth in averageproperty prices.
l Increase in values across IT-driven localities in cities suchas Bangalore, Pune, Kolkata,Hyderabad and Chennai forboth, outright purchase andlease.
l Demand for larger unit sizeproperties mainly witnessed inpremium localities in therespective cities.
l Traditional unit size propertiesin the 2 and 3BHK categorycontinued to be the commonman’s choice across all cities.
Inspite of increase in averagecapital values registered in closeto 80% of the localities across the
city, the Ahmedabad Index valueremained stable. This wasprimarily attributed to a drop inlistings in most active areas suchas Vastrapur and Bodakdev. Thiskept the city index values stablein the Jan-Mar 2012 quarter.
The Bangalore Index rose by 4%.The increase in the city index wasprimarily attibuted to averageincrease in property values andspurt in property listings in the
ANNIVERSARY ISSUE; JAN-MAR, FY 2012-132
ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
localites in East, North and Southzones. Due to ongoing andproposed real estate developments,there was a shift witnessed in theinvestor interest towards thenorthern part of the city. However,active IT-driven localities in theother part of the city continued towitness end-user interest.
The Chennai Index dropped by1%. Small decline in averagecapital values as well as listingspushed the city index downwards.The localities in South zonecontinued to witness maximumactivity, primarily on account ofpresence of IT companies,connectivity and availability oflarge number of options across allprice ranges.
The Delhi Index rose by 9%. Anupward trend in average capitalvalues in close to 90% localities ofthe city pushed the index valuesup. The localities such as Dwarka,Safdarjung Enclave, GreaterKailash I & II, IndraprasthaExtension and Mayur Vihar Phase1 were the major contributors.Asking values remained high inthe anticipation of a reduction inhome loan interest rates.
The Ghaziabad Index rose by 5%.The localities with good metroconnectivity continued to witnesshealthy demand from bothinvestors as well as end-users,resulting in an increase inaverage capital values. Theincrease in weightage of localiteswith affordable options tooimpacted the index positively. Thiscollectively pushed the Indexupwards.
The Gurgaon Index rose by 4%.Over 80% localities showedincrease in average capital valuesacross the city. Sectors along theDwarka Expressway, Golf CourseRoad and availability of propertiesat relatively affordable prices inSectors 80, 81, 83, 84 and 92 werethe major contributors. This tiltedthe Index upwards. Currently, theGurgaon-Dwarka Expressway isunder-construction and thecompletion is expected to further
boost property values along thisstretch.
The Hyderabad Index value roseby 3%. Irrespective of theunsettled Telangana issue andslow growth rate, localities inproximity to IT hubs continued towitness rise in capital values. Theaverage property values remainedup across the city, except in Uppaland Begumpet. The increase inprices was primarily due to highconstruction and raw materialcost, in addition to healthydemand from end-users.
The Kolkata Index value rose by8%. Close to 70% of the localitiesimpacted the city index positively.This led to significant rise in cityindex. Stable demand forproperties in premium localitiesin southern region and localitiesaround Rajarhat and Newtownarea were the major drivers.
The Noida Index value was up by1% in the Jan-Mar 2012 quarter.Residential demand remained upacross the city as emerging areassuch as Sectors 74, 75, 76, 78 andNoida Expressway sectors saw ahealthy rise in values.UnsettledNoida Extension litigation andslow growth rate in new launcheskept the asking values high.
The Pune Index value rose by 4%.There was consistent growth inthe average capital values acrossthe city. Areas such as Hadapsar,Magarpatta, Viman Nagar andBibwewadi were the major thecontributors that pushed the Indexvalue up.
The Mumbai Index witnessed adrop of 2% in values. Factors suchas weak consumer sentiments anddrop in rate of new launches inthe city dragged the Indexdownwards. Across Mumbai,market preference veered towardsaffordable locations, in bothcapital and rental values. Areasthat outpriced itself saw an exit ofconsumers, whether in city centreor suburbs.
TOP YIELD GROSSERS
Rental yield is a factor of the changes inrental values locality-wise vis-a-vis thechanges in capital values. Given beloware the top yield-grossing localities ineach city
Locality Gross yield
Kolkata, EM Bypass 6.14%
Bangalore, Electronic City 5.87%
Hyderabad, Kondapur 4.68%
Chennai, OMR 4.65%
Mumbai, Bandra East 4.27%
Ahmedabad, Vejalpur 3.60%
Ghaziabad, Indirapuram 3.33%
Pune, Viman Nagar 3.32%
Gurgaon, Sushant Lok-I 3.18%
Noida, Sector-50 2.70%
Delhi, Vasundhara Enclave 2.59%
CAPITAL GAINS
The table given below indicates maximum increase in capital values ineach city
Locality % Change
Chennai,Nungambakkam 16%
Gurgaon, Dwarka Expressway 16%
Bangalore, Koramangala 14%
Delhi, Panchsheel Enclave 14%
Noida, Sector-75 13%
Hyderabad, Bowanpalli 13%
Ghaziabad, Indirapuram 12%
Pune, Hadapsar 11%
Mumbai, Virar 11%
Ahmedabad, Gandhinagar 10%
Kolkata, Jadavpur 10%
3
CITY PROPERTY INDEX
The Pune City Index increased byapproximately 4%, double theincrease registered by NPI in theJan-Mar 2012 quarter.
The Price Monitor rose by 2% inline with NPI during the quarter.The localities close to IT hubssuch as Hadapsar, Kharadi,Magarpatta witnessed maximumuser interest. This impacted thePrice Monitor significantly.Availability of affordable optionsand improved infrastructure tooimpacted the values positively.
The MagicBricks.com yieldranged between 2.28-3.32% in theJan-Mar 2012 quarter. VimanNagar continued to post thehighest yield with marginal dropof 0.03% and Bibwewadicontinued to exhibit lowest yieldduring the Jan-Mar 2012 quarter.Marginal drop in gross rentalyield was primarily attributed to
increase in average capital valuesover and above the rental values.
PRICE MONITORPune values showed a stable risecross the city. Market sourcespointed out that the emergence ofjob opportunities resulted in themigration of young professionalsto the city. Another major trendacross Pune market was the IT-driven commercial andinfrastructure development whichled to a rise in demand forresidential apartments.
Local realtor Vinod Singh fromShalimar Real Estate said, “Puneis growing in a big way in termsof its economic andinfrastructural development."Singh pointed out that the capitalvalues in these areas have seen anincrease of about 20-22% in thepast one year. With affordableoptions available here, the area isseeing end-user and investorinterest, he added.
Magarpatta, Hadapsar and Undrisaw a rise of 4-12% in values.
Nikhil Jain of Riddhi Siddhi saidthese localities are performingwell because of availability ofnew projects. Undri enjoys thebest connectivity as compared toothers. Two multiplexes have alsocome up in the vicinity and thereare 3 major schools in theneighbourhood.
The percentage growth in
Magarpatta is lower compared toUndri and Hadapsar as the capitalvalues are more affordable inthese two locations, he said.
In the last six months, the roadinfrastructure in Undri hassignificantly improved as theconnectivity to Main Cantonmentarea is undergoing road widening.“The major advantage that Undrienjoys is cheaper land ratescompared to Wanowrie, FatimaNagar, Sopan Baug and KalyaniNagar,” Jain said. This triggereddevelopment of projects byprivate developers.
Commenting about the future ofthese localities, Jain said “Undrihas a better future compared toother areas due to connectivity,new projects, and affordableproperties. Capital values areexpected to witness healthyincrease from existing valuewithin a year,” Jain said.
Vishrantwadi, Bavdhan and Warjesaw a rise of 5-7% in capital
PUNE 28ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
PROPINDEX - PUNE QUICKSTATS
n Yield Meter: Yield ranges between2.29% to 3.35%
n Capital Values rose in 85% localities
n Rental Value rose in 53% localities
n PropIndex rose from 108 to 113
n Price Monitor rose from 114 to 116
Rank 1 Magarpatta
Rank 2 Wakad
Rank 3 Pimple Saudagar
Rank 4 Kharadi
Rank 5 Viman Nagar
Rank 6 Aundh
Rank 7 Kothrud
Rank 8 Hadapsar
Rank 9 Kalyani Nagar
Rank 10 Baner
New
Top ten preferredlocalities- Pune
values in the Jan-Mar 2012quarter.
Nikhil Jain said that Bavdhan andWarje are well connected toMumbai-Pune Highway andHinjewadi IT hub. “The primaryreason for rise in values is due toincreased demand from ITprofessionals who work atHinjewadi. A lot of people residein Bavdhan and work atHinjewadi. Bavdhan will come upinfrastructure wise in a year’stime,” he said.
Aundh, on the other hand, saw afall of 4% in capital values. Thiswas due to already escalatedprices and shrinking demand asoutright purchase picked up inneighbouring affordable locationslike Bavdhan and Warje, Jainsaid.
Sunil Gore of SCM Services saidthat Aundh, as a residentialmarket, had seen consistent risethroughout last year with pricesalready being very high, so peoplehave started purchasing propertyin Hadapsar, Dhanori and Undri.“All the areas close to Hinjewadihave an edge over other locationsas there are over 1 lakh people
working in this IT hub,” saidGore.
Kharadi, Viman Nagar, and BTKawade Road saw a rise in therange of 4-17% in the latestquarter. Jain said that BT KawadeRoad has seen maximum rise as ithas recently been announced thatthe construction of a bridge overthe railway line that connects thelocality to Koregaon Park andKalyani Nagar will soon bestarted. “In the anticipation ofthat overbridge, people arepurchasing here hoping for a goodappreciation,” Jain said.
Within a year, prices in BTKawade Road are expected toincrease 1.5 times of the currentrate of Rs 4,000 per sq ft, he added.
RENT MONITORVery few localities saw asignificant jump in rental valuesacross Pune. Market sourcesbelieve that lack of demand due toreduction in new recruitmentsacross the IT sector was theprimary reason.
Bavdhan saw a rise of 18% inrental values in the Jan-Mar 2012
PUNE29ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
2%
Price Monitor indicates 2% increase in the average sale price
P R I C E M O N I T O R
The futuristic growth of realestate in the Pune region ispromising considering theprojected demands of housesresulting due to the fast growthin the manufacturing, IT, ITeSsectors supported byestablishment of manyeducational institutions,hospitality industry andhealthcare centers.
The proposed InternationalExhibition Centre and conventionCentre in the industrial belt ofPimpri-Chinchwad with the Rs2000 crore investment spreadover to 200 acres shall also havedirect impact on the growth ofreal estate sector. There has beena continuous gap in the demandand supply for commercial andresidential complexes in the city.
The growth of real estate marketis spread across the city, as thedevelopers offer range of optionsfor those looking for investmentin the properties. The eastern sideof Pune i.e., Kharadi, Wagholi,Kalyaninagar, Hadapsar are nowbecoming preferred residentialdestinations. Similarly, in theWestern side like Hinjewadi,Baner, Aundh, Wakad, there aretwo market drivers, mainlyproximity to Mumbai and hugeemployment opportunities in theadjacent industrial belt.
Forbes listed Pune as the 3rdmost preferred corporatedestination.
CREDAI’s TAKE
Satish MagarPresidentCREDAI Pune
PUNE 30ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
quarter. Realtor Nikhil Jain saidthat because of connectivity andcomparatively lower values,demand has seen a consistent rise.
“A 1BHK that is available for Rs10,000 per month in Baner road isavailable for Rs 6,000-7,000 permonth in Bavdhan,” he said.
People are shifting to Bavdhanfrom Baner Road and Aundhbecause of affordable values,better living standard andimproved infrastructure, localbroker Sunil Gore said. Inaddition, there are many
developments like shoppingcomplexes, malls, more schoolsand colleges also planned in thelocality, Gore added.
“Localities linked to Hinjewadi ITpark and educational instituteswere the main drivers for rise inrental values in Pune. Students inNorth and South Pune requireapartments on rent the most,” headded. That is also a major reasonwhy Viman Nagar witnessed arise of 7% in rental values asSymbiosis Institute ofManagement is in the vicinity,Gore said.
Koregaon Park, Magarpatta andKalyani Nagar saw no change invalues as demand was very low inthese localities because of alreadyhigh prices, Jain said.
RENT MONITOR Rent Price Percentage Change
JAN-MAR 2012
n Pune Index rose by 4%
n Residential developments inproximity to IT Hub continuedto witness maximum userinterest
n City registered maximumdemand for properties worth upto Rs 60 lakh
Y I E L D M E T E Rn Regular demand for properties on lease
from working professionals helped theViman to fetch highest rental return
n Marginally higher percentage increasein capital values rental values kept therental return lowest in Kothrud
“Structured data willhelp in determiningconsumer demand to agreat extent.Structured data entailsasking the same set ofquestions to multiplerespondents. That willbe a great help inidentifying demand forreal estate in India.”
Kruti JainDirectorKumar Builders
PUNE31ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
Budget Wise Analysis Properties ranging between Rs 30-60 lakh witnessed maximumdemand across the city. It washighest in North Pune with 60%consumers willing to buyproperty in this budget range.Other zones showed 52-55%
consumer willingness to buyproperty in this budget.
About 20% users were willing tobuy property in the affordablerange up to Rs 30 lakh across the
zone. However, the supply ofproperties in this budget rangewas mostly concentrated alongthe suburbs.
The ratio of supply and demandfor properties in the budget rangeof Rs 60 lakh to Rs 1 crore washealthy. However, the demand forproperties worth over Rs 1 crorefell steeply. The ratio of supply inthe budget range was almostdouble the percentage of demand.
Property worth over Rs 1 croreindicates that demand wasapproximately half of theavailability in the market. Theratio fell sharply as the propertyvalue reached over Rs 2 crore.Central Pune witnessed thehighest supply of propertiesworth over Rs 2 crore. Though
consumer demand was limited inthis budget range.
Property Type Analysis The city registered maximumdemand for multistoreyapartments. Over 70% of theconsumers were willing to buymultistorey apartments across thecity. Statistics indicate that thecity witnessed over 80% supplyfor multistorey apartments,except in the North zone.Residential house was the second
Budget wise Analysis - South70
60
50
40
30
20
10
0<30 30-60 60-100 100-200 200 &
above
18
Fig
ures
in p
erce
ntag
e(%
)
Figures in lakh
14
53
38
1922
7
16
3
10
Demand%
Supply%
Budget wise Analysis - North70
60
50
40
30
20
10
0<30 30-60 60-100 100-200 200 &
above
22
Fig
ures
in p
erce
ntag
e(%
)
Figures in lakh
36
60
31
13 13
38
2
12
Demand%
Supply%
Budget wise Analysis - Central70
60
50
40
30
20
10
0<30 30-60 60-100 100-200 200 &
above
20
Figures in lakh
5
52
15 17 17
7
18
4
45
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
B U Y E R D E M A N D A N A LY S I S
Budget wise Analysis - East70
60
50
40
30
20
10
0<30 30-60 60-100 100-200 200 &
above
20
Figures in lakh
14
56
40
18
26
5
10
2
9
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Budget wise Analysis - West70
60
50
40
30
20
10
0<30 30-60 60-100 100-200 200 &
above
13
Figures in lakh
5
55
41
22
34
6
11
39
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Property wise Analysis - South90
80
70
60
50
40
30
20
10
0
3 4
75
86
137 8
3
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Single Multistorey Residential Residentialfloor House Plot
“Structureddata isalwaysmore
useful andpreciseconsideringthe multiple
sources of information.Property exhibition,surveys, in-housecustomer feedback aresome of the sources ofgathering information.”
I.P. InamdarCEOAhura Builders
Property wise Analysis - North80
70
60
50
40
30
20
10
0
4 6
72 72
15 169
5
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Single Multistorey Residential Residentialfloor House Plot
PUNE 32ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
most preferred development inthe city with 13 to 17% consumerdemand. Central Pune registered
maximum demand, atapproximately 17%. Supply waslimited in this segment. Areas innorthern part of the citywitnessed maximum supply. Eastand South Pune, the fastest
developing zones in the citywitnessed minimal supply.
Less than 10% consumersdisplayed willingness to buyresidential plots. Supply wasnearly half of the consumer
demand across the city, except inCentral Pune. Meanwhile, supplywas almost zero in Central Pune.Single floor unit categorywitnessed limited demand andsupply in the city.
BHK Configuration AnalysisApproximately 50% of usersshowed willingness to buy 2BHKunits across the city. Data showedsimilar ratio of supply across thecity except in localities in Centralzone. 1BHK unit was the secondmost preferred category in thecity. About 25-30% of the totalconsumers showed willingness topurchase 1BHK units. However,
the supply ratio of 1BHK unit wasrelatively lower than the demand,except in localities in Centralzone. In Central zone, the supplyfor 1BHK units was negligible inthe quarter. Higher consumer
demand for 1BHK units oversupply across the city highlightedhigh absorption rate of 1BHKproperty type.
Over 15% consumers showedwillingness to buy 3BHK
apartments across the city, exceptin North Zone. However, thesupply ratio was comparativelyhigh in this segment cross the city.Localities in Central Puneregistered the maximum supplyin this category. The 4BHKategory witnessed maximumsupply in Central Pune.
However, the other zonesregistered up to 6% supply. Higherunit category witnessed limitedbuyers this quarter.
User behaviour trend highlightedthat about 1-2%consumers werewilling to buy higher unit sizeproperties.
BHK Configuration - South
Figures in percentage (%)
Demand%
Supply%
4 BHK
3 BHK
2 BHK
1 BHK
0 10 20 30 40 50 60 70
26
2130
5148
2615
BHK Configuration - North
Figures in percentage (%)
Demand%
Supply%
4 BHK
3 BHK
2 BHK
1 BHK
0 10 20 30 40 50 60 70
1<1
1422
5455
3122
BHK Configuration - Central
Figures in percentage (%)
Demand%
Supply%
4 BHK
3 BHK
2 BHK
1 BHK
0 10 20 30 40 50 60 70
230
1848
4922
30<1
BHK Configuration - East
Demand%
Supply%
4 BHK
3 BHK
2 BHK
1 BHK
0 10 20 30 40 50 60 70
13
1931
5451
2614
BHK Configuration - West
Demand%
Supply%
4 BHK
3 BHK
2 BHK
1 BHK
0 10 20 30 40 50 60 70
24
2135
5248
2514
Figures in percentage (%)
Property wise Analysis - Cetral90
80
70
60
50
40
30
20
10
0
4<1
71
87
17 13
8<1
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Single Multistorey Residential Residentialfloor House Plot
Property wise Analysis - East90
80
70
60
50
40
30
20
10
0
3 3
76
87
137 9
3
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Single Multistorey Residential Residentialfloor House Plot
Property wise Analysis - West90
80
70
60
50
40
30
20
10
0
3 3
76
81
13 128
4
Demand%
Supply%
Fig
ures
in p
erce
ntag
e(%
)
Single Multistorey Residential Residentialfloor House Plot
annexuRes
Ambe Gaon 3550 to 4550
Aundh 5650 to 6800
B.T Kawade Road 5000 to 6650
Balewadi 4550 to 5150
Baner 4900 to 5650
Baner Road 4900 to 5800
Baner-Balewadi Road 4700 to 5350
Bavdhan 4600 to 5450
Bhosale Nagar 8350 to 11000
Bibwewadi 5350 to 6600
Boat Club Road 11650 to 15100
Bund Garden 9750 to 12500
Camp 5800 to 7050
Chakan 2450 to 2800
Chinchwad 4050 to 5150
Dhanori 3600 to 4200
Dhayari Road 3400 to 4050
Dighi 2450 to 3250
Fatima Nagar 4450 to 5350
Hadapasar Industrial Estate 4250 to 5150
Hadapsar 3450 to 4300
Hinjewadi 3400 to 3950
Kalyani Nagar 6200 to 7850
Karve Nagar 6400 to 7900
Katraj 3600 to 4650
Kharadi 4150 to 4800
Kondhwa 3500 to 4450
Koregoan Park 6900 to 8800
Lohegaon 3400 to 3800
Lulla Nagar 4650 to 6100
Magarpatta 5300 to 6100
Manjri 3050 to 3600
Model Colony 10800 to 14900
Mohamadwadi 3450 to 4250
Mundhwa 3950 to 4850
Nagar Road 4200 to 5500
NIBM Annexe 3600 to 4350
NIBM Road 4200 to 5150
Pashan 4350 to 5250
Pashan-Sus Road 4700 to 5500
Paud Road 6700 to 8650
Pimple Gurav 4350 to 4950
Pimple Nilakh 4600 to 5250
Pimple Saudagar 4350 to 4850
Pimpri 3950 to 4650
Ravet 3550 to 3950
Senapati Bapat Road 7300 to 9800
Shastri Nagar 5800 to 6500
Sinhagad Rd 4300 to 5550
Sopan Baug 6250 to 7600
Tingre Nagar 4000 to 4950
Undri 3400 to 4050
Viman Nagar 5200 to 6300
Vishrantwadi 4150 to 5100
Wadgaon Sheri 4250 to 5250
Wagholi 2950 to 3450
Wakad 4100 to 4800
Wanowrie 4750 to 5750
Wanwadi 4550 to 5350
Warje 4700 to 5800
PUNE 66ANNIVERSARY ISSUE; JAN-MAR, FY 2012-13
CAPITAL VALUES – LOCALITY WISE
Average Residential Apartment Prices
Locality Capital Values (Rs/Sq feet)
Locality Capital Values (Rs/Sq feet)
PUNE
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.
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