PropIndex | Magicbricks€¦ · PropIndex | Magicbricks Residential Market Insights Big-ticket Infra projects driving real estate activity Navi Mumbai is one of the top-performing

PropIndex | Magicbricks

Residential Market Insights

Big-ticket Infra projects driving real estate activity

Navi Mumbai is one of the top-performing city in 2019 with rising demand (consumer searches) and lower supply(active listings). The city's residential market has witnessed a steady price appreciation in the last 5 years, as bothready-to-move and under-construction segments saw more than a 20% increase in prices. Improving infrastructureand affordability have turned Navi Mumbai into a popular alternative to Mumbai city, making it irresistible tocorporates and buyers alike. The city is home to several planned mega projects by multiple real estate players.

We expect the momentum in Navi Mumbai to pick up in 2020. Infrastructure projects such as operationalisation ofLine 1 of Navi Mumbai Metro, construction of Navi Mumbai International Airport and Mumbai Trans Harbour Link arelikely to give a much-needed boost to the city's residential real estate market in the long-term.

5 YearChange YoY QoQ

1.9%4.5%21.3%

5 YearChange YoY QoQ

0.4%2.7%26.6%

"While the UC propertyprices have grown 26%in the last 5 years,growth tapered in2019, with just 2.7%YoY change."

Navi Mumbai Q4 2019

Parameters India Navi Mumbai

Demand+ +4.0% +5.0%Supply++ +1.5% -6.0% Price Index+++ +1.2% +1.9%

"Unlike the rest ofIndia, Navi Mumbaimarket has given animpressive 21% returnin the last 5 years"

Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019 ++ represents the QoQ change in volume of activelistings on Magicbricks website in Q4 2019 +++ represents the QoQ change in the weighted averageprice at India and city level..

Key Developers based onactive listings

Paradise Group

Bhagwati Group

Akshar Group

Indiabulls Greens

Dev Builders

Adhiraj Constructions

Gajra Group

Platinum Group

Vishesh Group

Arihant Superstructures

Key Projects based onconsumer searches

Golden Nest Nerul

Vatsal Paradise New Panvel

Balaji Residency New Panvel

Shree Chaya Sanpada

Swapnapurti CHS Sector 36

Shree Ganesh Vashi

Tulip Homes Kopar Khairane

Green World Airoli

Golden Dream Taloja

Sai Krupa Building Old Panvel

Price Bracket (INR/sqft)

< 6000 6000-8000 8000-10000 > 10000

RM UC RM UC RM UC RM UC

3.4%3.8%

1.4%1.9%

-2.6%

-0.4%

1.3%

3.5%

QoQ change in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Areas beyond Panvel and Navi MumbaiInfluence Notified Area (NAINA) towitness increased activity, as builderslike Wadhwa, Reliance, and Adani areplanning to launch townships here.

- With the completion of Navi Mumbaimetro, Kharghar to continue drawingbuyers, although significant unsoldsupply & high price levels are going tokeep the prices in check.

Navi Mumbai International Airport andMumbai Trans Harbour Link defininginfra projects, & their timely completionis likely to change the face of the city.

"Except the INR8,000-10,000 per sqftsegment, all othersegments witnesseddecent QoQ priceincrements"

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Avg. Price psf

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Avg. Price psf

Average Price INR psf

Average Price INR psf

Note:The above table represents the top developers by numberof active listings on Magicbricks website in Q4 2019

Source: Magicbricks Research

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q4 2019


Notes:1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only Source: Magicbricks Research

Notes:1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only


Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets


Page 1© magicbricks.com

1 BHK54%

3 BHK8%

Above 3 BHK1%

2 BHK36%

DEMAND

Demand Supply Analysis Navi Mumbai Q4 2019

Affordable properties in demand

Demand and supply concentrated in 1 and 2BHK configurationsConsumer preference shifting toaffordable segment

Navi Mumbai buyers are shifting theirpreference to affordable properties, as theprices in the core areas of the city havewitnessed continuous appreciation in the lastdecade.

"54% of the consumer searchesin Q4 2019 were witnessed in the1BHK category, as larger

configurations getting costlierand unaffordable."

- The rising prices have crowded out the largerBHK configurations, resulting in 3BHKs andabove receiving just 9% of the consumerinterest.

- On the supply side, the developers in the NaviMumbai market are failing to keep pace with thechanging consumer preference, with 1BHksmaking up less than 40% of the active listings.

- Similar trends witnessed in the pricepreference, with 41% of the buyers looking forproperties costing less than INR 6,000 per sqft,even though this segment made up just 23% ofthe supply.

- Panvel, Kharghar, and Vashi were the 3 mostsearched micro-markets for the quarter. WhilePanvel attracted buyers looking for affordableproperties, Kharghar has witnessed a surge inbuyer interest due to the Navi Mumbai metrogetting operational. Vashi, due to its proximityto Mumbai, continues to be favoured by thebuyer community.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searchesand listings by localities

1 BHK39%

2 BHK46%

3 BHK13%

Above 3 BHK2%

SUPPLY

8000-1000021% 6000-8000

30%

> 1000025%

< 600023%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by activelistingsa

8000-1000015%

6000-800023%

> 1000021%

< 600041%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration


.Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by price buckets


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 Q4 20192. 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.


Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Seawoods

Karanjade

Dronagiri

Rasayani

Mumbra

Ulwe

© OpenStreetMap contributors

Demand/SupplyDemand

Panvel 4230 - 9845

Kharghar 7008 - 10784

Vashi 8581 - 17940

Airoli 9299 - 14081

Kamothe 5896 - 9142

Nerul 10083 - 16151

Taloja 4289 - 9558

11

22

33

54

45

66

77

Panvel 4230 - 9845

Kharghar 7008 - 10784

Ulwe 6216 - 9098

Kamothe 5896 - 9142

Taloja 4289 - 9558

Airoli 9299 - 14081

Vashi 8581 - 17940

11

22

33

44

55

66

77

Micro-Market Price Range Q4 Rank Q3 Rank

(Price in INR per Sqft)

Micro-Market Price Range Q4 Rank Q3 Rank


Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 20192. Color of the bubble represents price change in Q4 2019, 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.

Locality NameAveragePrice

QoQChange

Dronagiri

Karanjade

Taloja

Taloje 4.0%

3.4%

3.4%

4.2%

5,423

5,383

5,956

5,344

< INR 6,000 psf INR 6,000-8,000 psf INR 8,000-10,000 psf > INR 10,000 psf

Price Analysis Navi Mumbai Q4 2019

- Most of the localities on the Thane Belapur Road witnessed price appreciation in the quarter as people preferred proximity to employment hubs.- Ulwe also had decent price appreciation as construction on the Navi Mumbai International Airport gathers pace.- Price decline was mostly witnessed in the peripheral locations of the city.- Only a few localities in Navi Mumbai are priced below INR 6,000 per sqft, and even these locations are experiencing steady price appreciation.


Seawoods6.8%

Karanjade3.4%

Dronagiri4.2%

Ulwe3.8%

© OpenStreetMap contributors


QoQChange

Khanda Colony

Sector 18

Sector 35

Sector 34

Sector 19

Kharghar

Sector 21

Sector 20

Sector 12

Sector 11 -1.1%

-1.1%

-0.5%

-1.5%

3.2%

-0.5%

-0.5%

-3.3%

-2.7%

4.3%

9,649

9,235

9,026

8,977

8,955

8,893

8,566

8,565

8,361

8,249


QoQChange

Sector 15

Kopar Khairane

Belapur

Airoli

Ghansoli

Cbd Belapur

Seawoods

Nerul

Vashi

Sanpada

Palm Beach Road 1.5%

3.2%

5.8%

3.6%

6.8%

5.8%

6.8%

3.2%

3.2%

3.5%

-4.5%

17,487

14,664

13,793

12,914

12,834

12,169

11,879

11,641

11,609

11,117

10,202

-7.5% 7.5%

Avg Price Change %ge

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. 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 Q4 2019, 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.

Q4 2019 Price changes for the city's major localities


QoQChange

Bamandongri

Kalamboli

Kamothe

Khandeshwar

New Panvel

New Panvel East

Old Panvel

Panvel

Panvel East

Road Pali

Taloje Panchanand

Ulwe 3.8%

3.0%

3.2%

3.6%

4.7%

-0.5%

-3.5%

-6.8%

7.0%

6.6%

6.2%

-4.3%

7,696

7,354

7,115

7,230

6,946

7,279

6,219

6,992

7,900

7,589

7,031

7,648

For more information and research related queries, please contact:

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant [email protected] [email protected] [email protected] [email protected]

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

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


PropIndex | Magicbricks€¦ · PropIndex | Magicbricks Residential Market Insights Big-ticket Infra projects driving real estate activity Navi Mumbai is one of the top-performing

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