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A very Happy New Year to all our readers!
The 7th edition of PropIndex comes when real estate markets across the countryhave stabilized, home loan interest rates are finally coming down thanks to somevery welcome measures by the Reserve Bank of India. Also a hint by the Ministerfor Housing that affordable housing will get industry status and the bag of goodiesthat the announcement brings with it. Exciting times to make a good investmentin a house.
We have studied supply and demand trends to help you figure out what the bestdeals should cost. Even as we wait for the Finance Minister to unveil on what is instore for the real estate sector in the Union Budget, data and statistics already spellgood news. All Indian markets have posted stable values. The National Index is up3 points. The Noida market has shrugged off the land acquisition blues and hasposted positive growth. Ghaziabad emerged as the fastest growing real estate hub.Developers have continued to boost supply of luxury housing in the quarter,reflecting their continued confidence in the markets. The government’s move toboost affordable housing is well timed as buyers too have shown their optimism.
You have now got used to getting something new in each issue of PropIndex. Andwe cannot let you down. This issue carries the top 10 preferred cities by demandfor lease and sale at the city and locality levels. Demand analysis has beenpresented in an easy-to-use bulleted version. Also, read what industry experts sayon the prospects of each city. And, importantly, we now make it possible for you tosimply log in and read your PropIndex anytime anywhere – we are delighted tolaunch a soft copy of PropIndex to be accessed on Magicbricks.com!
PropIndex is based on listed properties and requirements on Magicbricks.com.These are evolved into statistics, cleaned up and experts consulted to analysetrends. For developers and agents, the changing patterns of demand is a clue towhat the buyers are looking for. For the buyer, these analytics give a crediblebenchmark against which to make property investments. Globally, real estateinvestments are driven with meticulous research. Clubbed with the various adviceinitiatives that are available to you on magicbricks.com, you as a buyer will be ableto make informed decisions.
With PropIndex into its 7th quarterly edition, we now have a bank of very usefultrends and content about market performance at a city/locality level. You may alsovisit MagicBricks.com and explore all our content/research sections which carryample information about property markets, news and trends. Do share with uswhether PropIndex has helped you in understanding property markets better andin making a more intelligent real estate decision. Our team puts its effort inimproving each new edition to meet this stated objective of PropIndex. Your inputswould direct our efforts much better. Do write in!
FOREWORD
Sudhir PaiBusiness Head, [email protected]
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 400,000 active propertiesposted by more than1,00,000 active users in 300cities and 3,500 localities.Our users include owners,agents and developers.
MethodologyApartment values arebased on listings onMagicBricks.com. Theseinclude multistoreyapartments and singleunits on plotteddevelopments, referred toas builder floors onMagicBricks.com.
The Index is structured in
such a way that individualproperties are aggregatedinto their respective citiesand then to the NationalIndex. Weightages forPropIndex are based on thesupply of propertieswithin the locality/city.Based on this structure,PropIndex gives a realisticpicture of trends inprice/supply acrossdifferent property marketsin each city. We have useddifferent weightages forListed Price Monitor/RentMonitor. Therefore, read asa whole, PropIndex alongwith tables provided forListed Price Monitor, RentMonitor, Yield Monitor andCapital Values, 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,industry inputs and logicalinterpretations.
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 11
cities (these have beenchosen 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 some data as tablesand others as graphs. Between them, you will find how property markets have performed in the Oct-Dec 2012 quarter from many different perspectives – from that of capital appreciation, from a rental/yieldrealisation perspective and from the stand of supply of properties. Also understand what consumers want in theDemand Analysis section.
We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of theperformance of the property market within each city. Here are details of what you will find in each of the cityreports enclosed within -
1. City Property Index – This is a composite index which is a function of supply of properties as well as theaverage capital appreciation/drop in various localities of the city in the quarter. The city index is theweighted average of the average rate per square foot in that locality and the supply of properties from thatlocality. Premium localities (with higher average rate per square foot) as well as localities with higher supplyof properties will have a bigger impact on the Index. For example, if the supply of properties from apremium locality drops, that locality will end up having a lower weightage in the index which in turn willpush the Index downwards (and vice-versa). On the other hand, supply of properties remaining unchanged,the index will be influenced by capital appreciation within the locality.
2. Listed Price Monitor – This metric shows the capital appreciation/drop within a locality and is calculatedon the basis of movement in the “average rate per square foot” within that locality. By and large, themovement in the “average rate per square foot” reflects capital appreciation/ drops. However, in a few selectcases, we have observed that the average rate per square foot moves due to a change in the mix of apartmentswithin that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rate,changes over the quarter). In these few circumstances, the Listed Price Monitor will, in turn, reflect thisinput. Such changes have been explained in the text of the City Reports.
3. Rent Monitor – This reflects the rental appreciation/drop within a locality. It is calculated on the basis ofmovement in the “average rent per square foot” within that locality. By and large, the movement in the“average rent per square foot” reflects rental appreciation/drops. However, in a few selected cases, we haveobserved that the average rent per square foot moves due to a change in the mix of apartments within thatlocality (e.g. if the ratio of premium apartments, which command a higher per square foot rent, changes overthe quarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Such changes havebeen explained in the text of the City Reports.
4. Yield Meter – Yield is the annual rate of return earned on property. The Yield Meter depicts the gross yieldpercentages across various localities. Gross yield is a ratio of average annual rental value to the averagecapital value of the property.
5. Capital Value Tables (given in Annexures) – This shows the actual range of prices within which propertieswere available in each locality in the quarter. Prices are shown in Rupees per square foot basis; these are theprevailing rates for properties in each locality.
6. Demand Analysis –This analysis of consumer demand is based on searches and requirements that usershave performed on MagicBricks.com. The top localities by demand gives an insight into consumerpeferences. The demand data has been used to arrive at various aspects of consumer requirements includingBudget-wise analysis, Property type analysis and BHK configuration analysis. This section also provides acomparison between demand and supply in the Oct-Dec, 2012 and Jul-Sept, 2012 quarters.
7. Realty News – Property market performance is also dependent on drivers outside the purview of buyingand selling. There are broadly four key drivers that determine the prospects of real estate – infrastructuresuch as water and power, transport links creating new growth corridors, policy such as rental laws, propertytax, etc and return on investment. From this issue onwards, PropIndex focuses on news bytes that impactfuture prospects of real estate in the city.
GLOSSARY & DEFINITIONS
OCT-DEC 2012
The National Property Index(NPI) went up by 3 per cent in theOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter. TheNPI is a weighted average ofsupply and prices across 11 citiesin India.
Of the 11 cities in the apartmentindex, nine saw a marginal risewhile one recorded stable valuesand the other registered a smalldrop in the city index. Ghaziabad,Mumbai, Hyderabad, Pune, Delhi,Kolkata, Chennai, Gurgaon andNoida witnessed rise in city indexvalues. On the other hand,Ahmedabad registered stablevalues and Bangalore remainedlargely stable with a small 2 percent drop in the city index valueduring the Oct-Dec 2012 quarter.
Ghaziabad topped the city indexchart by registering a 5 per centincrease, followed by Mumbai,Hyderabad, Pune and Delhi, witha 3-4 per cent rise. Kolkata,Chennai, Gurgaon and Noida sawa rise of 1-2 per cent.
The NPI is a weighted average ofcity indices. Mumbai, Gurgaon,Pune and Noida were the majorcontributors to the NPI. TheMagicBricks.com PropIndex isbased on dynamic data minedfrom the portal to show levels ofsupply and the type of propertylisted in each locality. These arecleaned with complex algorithmsto remove outliers and arrive atthe index values at locality, cityand national levels.
The Index is impacted by thenumber and average price ofproperties in each locality and thelocality’s weightage in the city.This is based on its contributionto the city’s property data bank.The listings on the website are byend users and market participantsand the index is based on a mix ofnewly developing and establishedlocalities. New and oldconstructions are also a part ofthe listings.
The composite index value of acity draws from the changingindex values of different localitiesin that city. Localities that were
more active compared to otherscan contribute significantly to theindex values of that city. Thisindex is reflective of trends acrossmulti-storey and single floorapartments (commonly known asbuilder floors) around 11 cities.
n The National Property Indexrose by 3 per cent.
n Maximum consumerdemand (24 per cent)registered for residentialproperty between Rs 30-50 lakh
n Six out of 11 citieswitnessed over 65 per centdemand for multi-storeyapartments.
n Ahmedabad, Hyderabadand Bangalore witnessedmaximum consumerdemand for villas
IN THIS REPORT:
National Property Index...............1
Delhi.........................................4
Gurgaon...................................10
Noida & Ghaziabad................... 16
Mumbai....................................24
Pune........................................30
Ahmedabad..............................36
Kolkata...........,........................ 40
Chennai....................................46
Hyderabad................................52
Bangalore.................................59
Annexures.................................66
NATIONAL PROPERTY INDEX (NPI)
VOL 2, ISSUE 3; OCT-DEC, FY 2012-13
OCT-DEC 2012
2VOL2, ISSUE 3; OCT-DEC, FY 2012-13
NATIONAL PROPERTY INDEX
l Maximum consumer demand(24 per cent) registered forresidential property between Rs 30-50 lakh
l Affordable properties in theprice bracket of up to Rs 20lakh, witnessed the secondhighest demand (16 per cent).
l Except Mumbai and Gurgaon,2BHK remained the mostpreferred category across India.
l 1BHK and 3BHK categorieswitnessed maximum consumerdemand in Mumbai andGurgaon respectively.
In the Oct-Dec 2012 quarter,Ahmedabad city index remainedunchanged. Low rate oftransactions led to a stagnantproperty market in the quarter.
Despite a rise and fall in capitaland rental values in certainlocalities, the city index, the listedprice monitor as well as the rentmonitor remained unchangedduring these three months.
The Bangalore city indexwitnessed a drop of 2 per cent inthe Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter that rose by 7 per cent.Bangalore real estate marketrecorded no increase, reflecting astable market. This was primarilydue to continued buyer interest.Driven mainly by the IT industry,the over cautious approach tobuying in the beginning of 2012,has shifted more towards thepositive scale. By and large, theBangalore residential marketmanaged to maintain its steadypace, showing no great tilt.
The Chennai property index roseby 2 per cent during the periodOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatremained unchanged. TheChennai listed price monitorrecorded a slight increase at 1 percent for the same period,reflecting a stable market. Thiswas primarily due to the buyerscontinuing with the conservativeattitude towards buying. Theoutskirts recorded a rise incapital values primarily, withcertain notable exceptions, due tothe presence of IT companies.
The Delhi index witnessed asmall increase of 3 per centquarter-over-quarter in the lastsix months. On the other hand,the listed price monitor saw adrop of 1 per cent within the Oct-Dec 2012 quarter. Rates havecontinuously moved up. Over 54per cent of localities in the citywitnessed growth in averagerental values and more than 45per cent of the localities in thecity registered rise in averagecapital values. These are RohiniSector-24, Malviya Nagar, Kalkaji,Uttam Nagar and VasundharaEnclave.
The Ghaziabad index witnessed a5 per cent increase - the maximumby any city, in the Oct-Dec 2012quarter. The average listed pricemonitor rose by 2 per cent duringthe quarter. The price monitorhad increased by 1 per cent in theJul-Sept 2012 quarter. Theperformance of the suburb wastriggered by sharp growth invalues in areas such as CrossingsRepublik, Bhopura andVasundhara, which sustainedtheir last quarter’s growth of 11,10 and 8 per cent, respectively.This pushed the city indexupwards.
The Gurgaon city index rose by 2per cent during the Oct-Dec 2012quarter. Dwarka Expressway,sectors 57 and 82 are some primelocalities in the city which havedone exceedingly well in this
Upto Rs 20 Lakh Rs 20-30 Lakh Rs 30-50 Lakh Rs 50-70 Lakh Rs 70-100 Lakh Rs 1-2 Crore Rs 2 Crore & Above
National level - Consumer Budget Preference
30%
25%
20%
15%
10%
5%
0%
16% 15%
24%
14% 13%11%
7%
Top Preferred Cities
Rank WiseCities Buy Rent
Mumbai 1 1
Bangalore 2 2
Pune 3 3
New Delhi 4 4
Hyderabad 5 7
Chennai 6 5
Ahmedabad 7 10
Gurgaon 8 6
Kolkata 9 8
Noida 10 9
3VOL2, ISSUE 3; OCT-DEC, FY 2012-13
quarter. The reason behind thewellness of these localities couldbe the new constructions whichare rapidly taking place. Manyresidential complexes and officespaces are coming up. Upcomingnew stock and increase in averageproperty prices in the newdeveloping sectors in the citytilted the index upwards.
The Hyderbad city index rose by3 per cent during the Oct-Dec 2012quarter. The listed price monitorof the city witnessed an increaseof 1 per cent during the samequarter. Across the city only 21per cent of the total localitieswitnessed an increase in averagecapital values. This has arrestedthe growth rate of the listed pricemonitor. Localities such as ECIL,Kondapur and Banjara Hillswitnessed the maximum increasein average prices.
The Kolkata property index roseby 3 per cent during the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatwitnessed growth by a mere 1 percent. An important factor thatcontributed to the growth of thereal estate sector in Kolkata wasrestricted supply, which led to asurge in demand. Severalinfrastructure projects across thecity pushed the real estate marketin several parts of the city. Metro,flyovers, beautification of roads
and EM Bypass impacted realestate values positively.
The Noida index witnessed just 1per cent rise in the city indexvalue. Noida realty is coming backto normalcy after thecontroversies surrounding landacquisition and problems offarmers’ agitation. The double-digit increase in capital values ofsectors 75 and 93 along withmoderate increase in Sectors 62,74, 82 and 143 helped the Noidalisted price monitor in posting avery small growth. The proposedimprovements in physicalinfrastructure such as the metroand roads along with themushrooming offices remained atrigger for growth in the capitalvalues of Noida
The Pune city index rose by 3 percent during the Oct-Dec 2012quarter as compared to the 4 percent rise experienced in the Jul-Sept 2012 quarter. Demandwas more visible for ready-to-move-in units as well as for largerapartments. The residentialmarket recorded positive trendswith capital values moving up by2-10 per cent in different localities.Nearly stable rental values werewitnessed in almost 50 per cent ofthe localities across the cityduring the Oct-Dec 2012 quarter.Localities in close proximity to IThubs continued to register
increased rental demand, pushingup rental values.
Unlike the Jul-Sept 2012 quarter,the Mumbai index rose by 4 percent during Oct-Dec 2012 quarter.A surge in average listing priceowing to steady demand pushedthe city index up. However, lowtransaction rates were witnessedin the city. Maximum activity tookplace in the outskirts of Mumbaisuch as Navi Mumbai and Panvel.
TOP YIELD GROSSERS
Rental yield is a factor of the changes inrental values locality-wise vis-à-vis thechanges in capital values. Given beloware the top yield-grossing localities ineach city
Locality Gross yield
Bangalore, Electronic City 5.59%
Hyderabad, Nizampet 5.10%
Kolkata, EM Bypass 5.00%
Chennai, OMR 4.87%
Ahmedabad, SG Highway 4.55%
Noida, Sector-92 3.47%
Gurgaon , Sector-31 3.43%
Pune, Viman Nagar 3.12%
Mumbai, Powai 2.99%
Ghaziabad, Indirapuram 2.90%
Delhi, Mayur Vihar Phase-I 2.41%
CAPITAL GAINS
The table given below indicates maximum increase in capital values in each city
Locality % Change
Kolkata, EM Bypass 12.75%
Noida, Sector-75 12.27%
Delhi, Rohini Sector-24 11.97%
Ghaziabad, Crossings Republik 11.30%
Gurgaon , Sector-85 11.11%
Chennai, Valasaravakkam 10.55%
Mumbai, Pokhran Road 9.84%
Bangalore, Koramangala 9.35%
Pune, Wanowrie 8.96%
Hyderabad, ECIL 7.95%
Ahmedabad, Bopal 3.25%
GURGAON 10VOL2, ISSUE 3; OCT-DEC, FY 2012-13
CITY PROPERTY INDEX
The Gurgaon city indexwitnessed an increase of 2 percent during the Oct-Dec 2012quarter. In the same period theNPI rose by 3 per cent. DwarkaExpressway, Sectors 57 and 82are some prime localities inthe city which have doneexceedingly well in thisquarter.
The reason behind the wellnessof these localities could be thenew constructions which arerapidly taking place. Manyresidential complexes andoffice space are cropping up.The ever growing preferencefor premium apartments andlarger living spaces amongstthe people of the city has led tothe emergence of manyresidential complexes andoffice spaces. “All projects inthe area are of mid-range
luxury. Dwarka Expresswayhousing will be organized witha planned infrastructure,” saidMohit Arora, Director,Supertech Limited.
In addition, theMagicBricks.com yield metershowed an increase in thegross yield range 2.79 to 3.43per cent from the earlier 2.4 to3.44 per cent in the Jul-Sept2012 quarter. Certain areas inGurgaon like MG Road andSector 31 showed appreciationin rental values in this quarter.Strong demand due to its close
proximity to office spaces andmarkets has met the supply ofapartments in both theseareas.
Not just Gurgaon, across India,the year 2013 will be consumerfriendly in the real estatedomain. “We expect somereduction in lending rates andtax rebates. The home loan taxbreaks under Section 80 (c)should be increased to Rs 2 lakh to give more credit toprospective homebuyers.Because of several policies in
PROPINDEX - GURGAON
2%
Price Monitor indicates 2% increase in the average sale price
L I S T E D P R I C E M O N I T O R
Locality RankQ3 Q2
Sohna Road 1 1
Dwarka Expressway 2 2
Golf Course Extn Road 3 3
Sector-56 4 6
Palam Vihar 5 4
Golf Course Road 6 5
Nirvana Country 7 8
Dlf City Phase V 8 7
Sector-92 9 -
Sector-82 10 9
Top Preferred Localities
Note: Q3 Oct-Dec 2012, Q2 Jul-Sep 2012
GURGAON11VOL2, ISSUE 3; OCT-DEC, FY 2012-13
Y I E L D M E T E Rn Sector 31 in Gurgaon posted the highest
gross yield of 3.43 per cent in the Oct-Dec 2012 quarter.
n Sector 57 registered the lowest gross yieldwith 2.19 per cent. Due to the upcomingcommercial developments in thesurrounding sectors, the capital value ofthe area has risen significantly incomparison to average rental values.This led to lowest gross yield in sector 57.
favour of the real estateindustry this should be a goodyear for buyers” said AnilSharma, Chairman andManaging Director, AmrapaliGroup.
LISTED PRICE MONITORReal estate experts have alwaysestimated Gurgaon to be one ofthe country’s top destinations forinvestment as the city hasexperienced tremendous growthin the last few years. As per theprice monitor, sector 82 hasexperienced consistent growth inthe last six months. Since it is
only 3 km away from the DwarkaExpressway many developers areinterested in the area. "Theappreciation of property priceswill be good near this area. Theland value of the areas adjoiningDwarka Expressway is alreadybeing compared to that ofDwarka. Property prices are goingup rapidly" said Pradeep Mishra,a real estate analyst.
Dwarka Expressway jumped thebandwagon with a 9 per centcapital value change as comparedto the earlier quarter. Arora alsopointed, “Dwarka Expressway’ssectors -77, 78, and 79 will become
prime areas with the constructionof the Southern Peripheral Roadwhich will connect the GolfCourse Road to NH-8.” Supplies of2/3/4 BHK in multistoreyapartments in this locality are onan all time high. Ramstan ofRamstan Realtors had told
RENT MONITOR Rent Price Percentage Change
Gurgaon will continue togarner investorconfidence since theprices have not yetpeaked. The area offersaffordability,infrastructure andlocation advantages.Growth is expected inboth residential andcommercial realty.
Prashant SolomonManaging DirectorChintels India Ltd
QUICKSTATS
n Yield Meter: Yield ranges between2.19% to 3.43%
n Capital Values rose in 91% localities
n Rental Value rose in 42% localities
n City Index rose from 124 to 126
n Price Monitor rose from 135 to 137
GURGAON 12VOL2, ISSUE 3; OCT-DEC, FY 2012-13
Magicbricks.com some time agothat buyers were hesitant aboutNew Gurgaon’s future prospects,but, whoever invested at that timehave benefitted hugely . He says,“Now, it has become one of themost sought-after places forinvestment. It is well-connectedwith all the three highways –NH8,Dwarka Expressway and theproposed KMP Expressway.”
Almost all realtors registered withMagicbricks.com agree that thereason behind the bestperformance of the area is itsgood connectivity since it isstrategically located on the
intersection of two eight-laneExpressways, the NationalHighway-8 and a new proposedlane connecting to north-westDelhi. The other reason would bethe upcoming social and physicalinfrastructure such as railwaystation, malls, hospitals, metro,schools, parks and fields.
Sector 57, witnessed an increase of10 per cent for the period Oct-Dec 2012 as compared to theJul-Sep 2012 quarter.
The area has several malls,schools, hospitals and metrostation at close proximity and issituated next to the Golf CourseExtension Road. Also, it is locatedvery near the already establishedparts of Gurgaon like NirvanaCountry, Sector 56, MayfieldGardens, etc. Gaurav Kumar ofCity Estate Agency, who deals in
the sector, revealed that “Due tothe upcoming commercial spacessurrounding the sector, the capitalvalue of the area has risen.”
RENT MONITOR
Rental values in Gurgaon depicteda lopsided trend which variedfrom 6 per cent to 10 per cent inthe Oct-Dec 2012 quarter.
Localities with good connectivityand moderate rentals have faredwell in the rental monitor.
Sector 43 maintained its topposition with a 9 per centincrease, DLF Phase I bouncedback to the second slot with 7 percent and DLF Phase III came thirdin the category with a 6 per centincrease in rental values.
Premium localities like NirvanaCountry, Vatika City, Golf CourseRoad among others saw a dip inthe rental values within thequarter.
Realtor Avtar Singh from RealtyHeights confirmed that the supplydoes not match the demand. Heopined that tenants prefer thelikes of Sohna Road and GolfCourse Extension as they are newconstructions with increasedprovisions. Also, rental values inthese areas have reached its peakand have gone beyond affordableranges.
Deadline for property tax amnesty extendedThousands of city residents who have not paid property tax forthe years 2008-09 and 2009-10 heaved a sigh of relief with theHaryana government deciding to extend the amnesty scheme tillJune 30 this year. The scheme ended on December 31 last year.Residents now don’t need to pay any penalty if they pay propertytax for the two years by June. A notification issued by the urbanlocal bodies department to all the municipal corporations,councils and committees across the state says that the amnestyscheme has been extended till June end. The MCG has tied-upwith private banks in the city where residents can deposit the taxamount through cheque, demand draft or cash.
n The Times of India, Delhi/NCR
New Draft Development plan for GurgaonWith the new draft development plan in place, land will be nolonger acquired for SEZ (special economic zone) purposes. Thenew Draft Development Plan of Gurgaon-Manesar UrbanComplex-2031 has incorporated this provision as SEZs arebecoming unviable with various issues cropping up over timeand, in particular, the inability of the Reliance Haryana SEZLimited (RHSL) to purchase and accumulate contiguous lands fortheir SEZ. In view of change of land use (CLU) or licences oncertain land patches, some amendments have been made in theFinal Development Plan-2025 of GMUC.
n Times Property, The Times of India, Delhi/NCR
With its newly carved sectors and new expansions Gurgaon has enough for homebuyers and investors. But it is nowchanging into a luxury hub. With its opulent projects, the city is poised to grow. Though the rates have not yet peaked, city’sreal estate still has some potential. The state’s regulations have offered a conducive environment for the real estate sector.
Gurgaon will continueto witness growth dueto various factors suchas timely completion ofprojects, improvinginfrastructure and highinvestor interest. Thecity would definitelysee appreciation inrates in the comingyears.
Amit GuptaManaging DirectorOrris Infrastructure
To read full story and more news go to www.content.magicbricks.com
Top Preferred Rental LocalitiesNew
Locality RankOct-Dec’12
Sohna Road 1
Sector-56 2
Palam Vihar 3
Dlf City Phase Iii 4
Dlf City Phase Ii 5
Dlf City Phase V 6
Golf Course Road 7
Sushant Lok-I 8
Dlf City Phase Iv 9
Nirvana Country 10
R E A L T Y N E W S
GURGAON13VOL2, ISSUE 3; OCT-DEC, FY 2012-13
BUYER DEMAND ANALYS I S
Budget wise Analysis - DEMAND
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
Q2 Q3
4348
Q2 Q3 Q2 Q3
4040
Q2 Q3
39
Q2 Q3
3943
Q2 Q3
5141
29
32
11
31
16
12
13
23
18 19
24
13
15 7
25
25 27
25
5
10
21
2217
24
8
42
26
25
29
27 32
22 17
26
<40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1-2 crore Rs 2 crore and above
34
8
Budget wise Analysis - SUPPLY
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
Q2 Q3
4246
Q2 Q3 Q2 Q3
4239
Q2 Q3
48
Q2 Q3
3636
Q2 Q3
5247
2034
14
34
18
6
8
34
31 29
36
78
17
39 38
15
24
18
24
50
31
29
33
27 36
11 17
28
<40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1-2 crore Rs 2 crore and above
21
21
l Properties worth between Rs 60 lakh and Rs 2 crore witnesseda demand of 65 per cent at the city level.
l Demand was low for propertiesworth upto Rs 60 lakh whilemoderate demand was noted in the Rs 2 crore and above category.
l In line with the demand, supplywas also largely limited toproperties priced from Rs 60 lakhto Rs 2 crore.
l Dwarka Expressway and the NewDeveloping Sectors in Gurgaonwitnessed huge demand forproperties worth Rs 60-100 lakhwith a rise of 4-10 per cent noted inbuyer interest from the Jul-Sep 2012 quarter.
l New Gurgaon and Sohna Roadwitnessed the maximum demandin the Rs 1-2 crore category eventhough Sohna Road witnessed adrop of 5 per cent in buyer interestin the Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter.
l In line with the huge demand forproperties worth Rs 60-100 lakh inlocalities such as DwarkaExpressway and New DevelopingSectors, supply was also found tobe maximum in this category witha rise of 2-5 per cent as comparedto the Jul-Sept 2012 quarter.
l Nearly 80 per cent supply wasrecorded for high end propertiesworth above Rs 1 crore in NewGurgaon with a slight rise of 2 percent in availability in the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter.
100
80
60
40
20
0<40 40-60 60-100 100-200 200 &
above
4Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
411 10
30 3136 34
19 21
(Jul-Sep 2012)
(Oct-Dec 2012)
Budget wise Analysis - City Level
DEMAND
100
80
60
40
20
0<40 40-60 60-100 100-200 200 &
above
2
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
210 9
28 2834 35
26 26
(Jul-Sep 2012)
(Oct-Dec 2012)
SUPPLY
Budget Wise Analysis
The first graph (Budget Wise Analysis-City Level) compares availability of residential propertiesin five budget ranges in two consecutive quarters: Jul-Sept 2012 and Oct-Dec 2012. It also shows thedemand in different categories at the city level. The next two graphs (Budget Wise Analysis-Demand and Budget Wise Analysis-Supply) give a detailed picture of how consumer preferenceshave changed over the last two quarters. The city is divided into six zones: Sohna Road, Old andNew Gurgaon, Dwarka Expressway, Golf Course Extn Road, New Developing Sectors.
9
GURGAON 14VOL2, ISSUE 3; OCT-DEC, FY 2012-13
Property wise Analysis - City Level
100
80
60
40
20
0
66 64
9 9 7 6
16 18
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residential Villaapartment floor house plot
DEMAND
2 3
100
80
60
40
20
0
65 68
12 115 5
15 13
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residential Villaapartment floor house plot
SUPPLY
3 3
Property wise Analysis - DEMAND120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey apartment Single floor Residential house Residential plot Villa
Q2 Q3
817
767
10
Q2 Q3 Q2 Q3 Q2 Q3
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
32
11
23
33
11
23
32
56
127
53
137
23
7976
18
857
8386
856
86
77 33 21 14 6
Property wise Analysis - SUPPLY120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey apartment Single floor Residential house Residential plot Villa
Q2 Q3
77
11
80
8
Q2 Q3 Q2 Q3 Q2 Q3
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
12
13
35
17
17
29
33
49
186
52
17
6
20
8489
877
857
84
8
88
8 37 22 10 6
Q2 Q3 Q2 Q3
Q2 Q3 Q2 Q3
7
l Maximum demand was observedfor multi-storey apartments withsupply overshooting demand by 4 per cent. The second mostdemanded property type wasresidential plots, which registereda rise of 2 per cent from the Jul-Sept 2012 quarter at the citylevel.
l Demand and supply across allproperty types remained largelystable in the Oct-Dec 2012 quarteras compared to the Jul-Sep 2012quarter.
l Multi-storey units remained thepreferred property type across allzones even though demanddropped marginally by 2-5 per centin all zones except in Old Gurgaonand New Developing Sectors.
l Buyer interest in Old Gurgaon wasalmost equally distributed amongmulti-storeys, residential housesand plots while single floor unitsand villas witnessed lowerdemand.
l Residential plots recorded a rise indemand with user interest inchingup by 1-4 per cent in all zonesexcept in Old Gurgaon wheredemand dipped by 1 per cent ascompared to the Jul-Sept 2012quarter.
l Multi-storey apartments remainedthe most supplied property type inall zones except in localities of OldGurgaon where residential plotswere the most available categoryfollowed by residential houses.
l Supply of multi-storey unitsmoved up marginally by 3-5 percent across all zones in the Oct-Dec 2012 quarter except alongthe Golf Course Extension where itdropped by 2 per cent.
Property Wise Analysis
While multi-storey apartments are the conventional mode of investment, other property typessuch as single floor units, residential plots, residential houses and villas also found several takersamong buyers. The first graph (Property Wise Analysis-City Level) depicts how demand andsupply statistics for different property types have changed over a period of six months at the citylevel. Buyer demand remained largely stable across property types in the Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012 quarter. The subsequent graphs (Property Wise Analysis-Demandand Property Wise Analysis-Supply) indicate how demand and supply for different property typeshave changed from the Jul-Sept 2012 quarter to the Oct-Dec 2012 quarter at the zone level.
GURGAON15VOL2, ISSUE 3; OCT-DEC, FY 2012-13
BHK Configuration - City Level
BHK Configuration - DEMAND
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
1 BHK 2 BHK 3 BHK 4 BHK & above
Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3
5857
4949
51 50
41
4855 56
48 47
100
80
60
40
20
03 3
34 34
50 50
13 13
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
DEMAND SUPPLY
100
80
60
40
20
01 1
1819
54 55
27 25
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
BHK Configuration - SUPPLY
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Sohna Road Old Gurgaon New Gurgaon Dwarka Expressway Golf Couse New Extension DevelopingRoad Sectors
1 BHK 2 BHK 3 BHK 4 BHK & above
Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3
5761
20
44 52 54
56 60
56 53
56
40
47
22
36
28
13
27
1334
10 12
3416
31
16 7 6 18
26
20
23
46 457
16
22 26
16
38
6
29 33
14
31
14
12
31
11
28
30 31
32
12
31
7
30
l Both demand and supply waslargely limited to 3BHK units withmore than 50 per cent usersshowing an interest in thiscategory and supply keeping pacewith the demand.
l Nearly 35 per cent demand wasalso noted for 2BHK units at thecity level even though supplyremained low and was moreinclined towards properties in the4BHK and above category.
l Buyer interest fluctuated between2 and 3BHK units in differentzones. While 3BHK was the mostpreferred size along the DwarkaExpressway, Golf CourseExtension, Sohna Road and NewGurgaon, 2BHKs were morepreferred in the New DevelopingSectors and Old Gurgaon.
l Demand for 2 and 3BHK categoriesremained almost stable since theJul-Sept 2012 quarter.
l Maximum demand for propertiesin the 4BHK and above categorywas found in Golf CourseExtension Road with demandinching up by 2 per cent in the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter.
l Even though 3BHK units remainedthe most preferred unit size acrossall zones, mixed supply trendswere observed for the same indifferent zones.
l A rise of 4-8 per cent was seen insupply of 3BHKs in localities ofOld and New Gurgaon and alongthe Dwarka Expressway and SohnaRoad. 2BHK units were most insupply in the New DevelopingSectors followed by the DwarkaExpressway.
BHK Configuration Analysis
The size and configuration of an apartment are important criteria while making a propertybuying decision. The graph ‘Budget Configuration-City Level’ represents the demand and supplyof 1, 2, 3, 4 BHK apartments in the city in two consecutive quarters namely Jul-Sept 2012 and Oct-Dec 2012. It depicts how the buyer preferences have changed over the last six months andcompares the availability of these units in the two quarters. The following graph (BHKConfiguration-Demand) gives a comparison between the buyer demand for various configurationsin different zones in the two quarters. The last graph gives an account of how the availability ofthese units has changed across zones in the two quarters.
11
13 15
56
ANNExURES
CAPITAL VALUES – LOCALITY WISE
Average Listed Residential Apartment Prices
Dlf City Phase I 9300 to 11500
Dlf City Phase II 12050 to 13450
Dlf City Phase IV 11450 to 12700
Dlf City Phase V 11950 to 13850
Golf Course Extension Road 7050 to 9100
Golf Course Road 11950 to 14250
Manesar 3650 to 4200
MG Road 11100 to 12850
Nirvana Country 7900 to 9050
Palam Vihar 7400 to 8500
Sector 104 3850 to 4250
Sector-102 5250 to 6250
Sector-103 3850 to 4450
Sector-106 5000 to 5800
Sector-107 4650 to 5250
Sector-108 4700 to 5450
Sector-109 5450 to 6200
Sector-110 5300 to 6600
Sector-111 5850 to 7650
Sector-112 4450 to 5850
Sector-31 9250 to 12250
Sector-33 6950 to 7600
Sector-37C 3750 to 4650
Sector-37D 4150 to 4950
Sector-43 8400 to 10150
Sector-47 6650 to 7800
Sector-48 7600 to 9350
Sector-49 8100 to 9550
Sector-50 8550 to 10250
Sector-51 6100 to 7750
Sector-52 5900 to 7500
Sector-54 8200 to 12200
Sector-55 6000 to 6900
Sector-56 6450 to 7600
Sector-57 7300 to 8350
Sector-58 10650 to 12600
Sector-60 10000 to 11450
Sector-61 8000 to 9000
Sector-62 7600 to 9350
Sector-65 6450 to 7500
Sector-66 7100 to 8150
Sector-67 7050 to 8400
Sector-68 3800 to 4300
Sector-69 5250 to 5900
Sector-70 5250 to 6000
Sector-70A 5450 to 6100
Sector-71 5000 to 5750
Sector-72 7050 to 8200
Sector-73 4450 to 5000
Sector-77 4750 to 5200
Sector-78 5050 to 6550
Sector-79 5000 to 5450
Sector-80 5200 to 5850
Sector-81 4800 to 5600
Sector-82 4350 to 5250
Sector-83 4750 to 5550
Sector-84 4100 to 4800
Sector-85 4450 to 5300
Sector-86 3600 to 4250
Sector-89 4550 to 4950
Sector-90 3850 to 4900
Sector-91 3500 to 4050
Sector-92 3300 to 4100
Sector-93 3300 to 3800
Sector-95 3450 to 4050
Sector-99 4550 to 5400
Sohna Road 7000 to 8950
Sushant Lok 9200 to 11300
Sushant Lok-I 8400 to 10750
Vatika City 8650 to 9650
Locality Capital Values (Rs/Sq feet)
Locality Capital Values (Rs/Sq feet)
GURGAON
GURGAON69VOL2, ISSUE 3; OCT-DEC, FY 2012-13
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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VOL2, ISSUE 3; OCT-DEC, FY 2012-13DELHI
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