FOREWARD - MagicBricksproperty.magicbricks.com/.../delhi-ncr-jan-march16.pdf · 2018-04-22 · Delhi was faced with a tough market with 20% decline. The only other cities with double

FOREWARDPrice is an important real estate variable as it is the end-product of interaction between the underlying demand and supply elements. It also incorporates all the sector related imperfections like delays in getting project approvals and clearances. It is an indicator of the health of the market and the overall economic scenario. The price level and associated trend serve as guidance for important investment decisions from retail home buyers to private equity funds. Therefore, importance of such a tool cannot be stressed enough.

Real estate in each city is heterogeneous and each locality and project can be mapped to different budget segments and geographies. Each budget segment and geography corresponds to a certain share of supply and consumer preference in the market. Therefore, can there be one price trend for the city? And how to ascertain a price trend incorporating contribution from different price segments and geographies?

Towards this end, Magicbricks has evolved a holistic price Index for each of the 14 major cities in India. The City Index reflects the price movement across prominent localities in each city. These localities have been chosen using the twin criterion of their share in the overall consumer preference in the city as well as share of actively traded properties. The weight assigned to each locality is its share of consumer preference in the city. This makes for a comprehensive Index covering localities with high consumer preference as well as high number of actively traded properties in the secondary market. It also allows a comparative analysis between cities to evaluate better investment destinations.

In addition, we have also calculate the price variations across geography and budget segments. This top-down approach helps to identify price trends budget and geographic levels. We can ascertain how each segment is performing relative to others and how it is contributing to price in each geographic zone.

Analysis of City Indices over a 2-year period shows that Navi Mumbai had the highest gain of 15.7% while New Delhi was faced with a tough market with 20% decline. The only other cities with double digit Index gains were Pune and Thane, both with 10% increment. Overall, Western India performed the best with 9.1% average gain followed by South with 4.9% increment. North and East India saw an average decline of 6.3% and 1.3% in City Indices, respectively.

It is important to note that these gains are eroded when benchmarked against inflation in the study period.

Another important sign of our times is the 9% premium commanded by the ready-to-move-in (RM) properties over the under-construction (UC) properties at a pan-India level. This ratio was at 5% 10 quarters ago, and is a reflection of the falling consumer confidence on the developers to deliver projects on time. Consumers do not want to undertake development risk and are opting for safer RM options. The industry needs to introspect and address this aspect of consumer confidence if it wants the consumer to participate in a big way in the market.

These are changing times and we would love to hear from you. Do write to us at [email protected] and share yours views on this report and how we could make PropIndex even better.

You may also share your opinion with #PropIndex on our Twitter handle @magicbricks or connect with us on Facebook at www.facebook.com/magicbricksTOI.

Sudhir Pai CEO, Magicbricks.com

METHODOLOGY|Realistic price discovery has been the biggest problem area in the Indian real estate market. As consumers and industry struggle to arrive at the realistic benchmark pricing to assess the true value of their individual units, Magicbricks, as the largest repository of residential property listings, brings you the trusted Indian Apartment Price Index in a new and easy to use format. Mirroring the Indian Real Estate scenario, this price index presents an animated representation of the Real Estate market.

Every quarter, Magicbricks publishes the quarter-on-quarter inflation and deflation trends of the residential real estate prices in India. It collects real estate demand-supply data on a daily basis for more than 100 cities in India, of which, the fourteen top cities are selected for computing the National Property Price Index.

The National Property Price Index and its constituent indices are subjected to a series of stringent steps.

Each quarter, Magicbricks measures the individual property level price changes, which are then aggregated at the locality level. While comparing the average pricing figures for the current quarter and comparing with the previous one, quarterly price changes are calculated. These price changes are further aggregated at the city level and even further at an all-India level.

As the top receiver and aggregator of residential demand, Magicbricks data provides consumers with realistic benchmarks to assess true property pricing. Where demand exceeds supply, consumers have no chance of negotiating values.

However, where demand is far lower than supply, buyers can look for more options and therefore, negotiate

pricing. If, on the other hand, you are a seller looking for benchmark pricing, you will effect the fastest sale if your asking values are close to the buyer’s paying power.

There are various co-relations of the demand and the overall real estate market as well as its future potential. Not only is the demand a preceding indicator to the supply, it is also a fairly good indicator of actual transaction activity in the region.

We have aggregated the 14 cities covered under the report into various localities and while calculating the city level property pricing indicator, we have applied demand as weight to each locality. This weight is equal to the locality’s share of the demand being contributed to the city’s total demand. As a consequence, the locality receiving higher demand for residential units will be given a higher weightage. Following that, each city’s price movement is calculated by aggregating the price movements of individual localities, according to their individual weightages.

In terms of checks and balances towards making the data and analysis more robust and objective, we have made sure that superfluous information does not deviate the desired results. Hence, we have applied checks and balances at the locality level listing data collection and aggregation.

A statistical technique called “Inter-Quartile range” has been used to ensure that unintentional input deviations of house size and price figures, which may distort the actual value of the house and corrupt the analysis, are addressed. The technique aims to remove the outlier datasets, while securing the correct values.

The interquartile range (IQR) technique works through measuring variability of each dataset, while dividing the data set into quartiles. The technique measures the value of data points on the first and third quartiles of the data and calculates the difference between the two.

This range, called as the ‘IQR’, gives the effective extent of dataset, while removing the first 25% and the last 25%. Subsequently, a test is applied to each of the values in the dataset. If a particular data lies within an IQR of the first and third quartile values, then that data is considered part of the dataset, otherwise not. The set of listing values of each locality are statistically cleaned.

Magicbricks, on an average, covers more than 500 localities for Tier I cities of India. Yet for the sake of analysis, we take only those localities where the recipient demand is at least 0.05% of the city’s total demand. Only localities with at least 50 actively traded properties have been included in the analysis. Following that process, we shortlisted various localities which in some sense, impact the pricing dynamics of the city.

We then calculate the average prices of the city for the quarter, while applying demand weights to the average prices of each locality. These average prices at the city level are further aggregated to the final outcome of the ‘National Price Index’.

The difference in Under Construction and Ready-to-Move-in property has been assessed and included in the report. Rental yield and affordability too has been addressed for top 10 localities by supply in every city. These are critical tools which well used can help with realistic price discovery.

GLOSSARY & DEFINITIONSThere is a wealth of information within these pages. For better readability, we have presented some data as tables and others as graphs. Between them, you will find how property markets have performed in the Oct-Dec 2015 quarter from different perspectives – from that of capital appreciation, from a rental/yield realisation perspective and from a supply standpoint. Demand Analysis section also explains what consumers look for.

We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of the performance of the property market within each city. Here are the details of what you 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 as well as the average capital appreciation/drop in various localities of the city in the quarter. The city index is the weighted average of the average rate per square foot in that locality and the supply of properties from that locality. Localities with higher supply of properties will have a bigger impact on the Index.

2. Price trend basis budget segments: To better understand the city’s price trend, the localities have been divided into budget segments basis their capital value (Rs/sq ft). We have tracked the weighted average price for each budget segment for a 2+ year period from quarter ending Sep 13 to quarter ending Mar 16. Subsequently, the movement of the localities in each price segment is mapped to derive respective short term and long term price change trends. The number of budget segments vary according to the city characteristics.

3. Zone wise distribution of localities: The various localities in the cities are all geographically divided into five key regions: Northern, Southern, Eastern, Western, and Central. The localities are analyzed at the local zonal level to better understand the effect of the various drivers of price and demand, which are active mostly at the zonal level rather than at the city level.

4. Zone wise distribution of properties budget segments: To better understand how each of the city zones contribute to the city’s supply, and how they are able to provide housing at various price points, the supply is distributed into budget segments across various geographic zones. For instance, if a zone has most of its supply in the premium budget segment, then it naturally becomes a premium destination within the city. The price changes within the various budget segments are also analyzed at the zonal level to go to the depths of the price changes across the city and to easily contribute the price changes to local factors.

5. Capital Value Tables (given in Annexures): This shows the actual range of prices within which properties were available in each locality in the quarter. Prices are shown in Rupees per square foot basis, these are the prevailing rates for properties in each locality.

6. Price trend – Top 5 localities by consumer preference: This section presents the price trend of Top 5 localities in the city by consumer preference. These localities have the highest consumer focus and assessment of price trend in these localities assists in understanding the prevalent and future price trend in the city.

7. Price trend basis construction status: This Index looks at the movement in prices of under-construction (UC) and Ready-to-Move (RM) properties across localities in the city. It is a weighted price index where weight is assigned to each locality basis its share in the consumer preference in the city.

NOTES

In line with general lack of activity in the residential real estate market, the National Property Index has remained stagnant at the same level as last quarter.

This is in continuation of the general trend of inactivity observed over in the market last many quarters (including current period between Jan-Mar 16).

NPI is the weighted average of consumer

preference share of 14 cities and their individual City Index value.

On a quarter level, all regions of India inched up marginally in terms of prices from the last quarter. Although it cannot be said with certainty that the prices have hit rock bottom and will not fall any further, any downward movement in prices going forward is going to be restricted.

After falling consecutively for last 4-5 quarters, the decline in key north cities was finally arrested and Delhi and Gurgaon witnessed price increases of more than 1%.

On a 2 year scale, western India has done better than all other regions, with all its cities giving more than 6% price increment. The worst performer was North, where prices changes hovered between -20% to +6%.

l In Mumbai, 62% localities saw an average price decrease of 3%, pushing the Oct-Dec 15 Index value down by 2%. The balance 38% localities saw prices increment of 3%, pushing up the Oct-Dec 15 Index by 1% leading to net drop of -0.9 % in Jan-Mar 16.

l In Navi Mumbai, 57% localities saw an average price increase of 2%, pushing the Oct-Dec 15 Index up by 1%. The balance localities saw prices drop of 2%, pushing down the Oct-Dec 15 Index by 1%, leading to net increment of 0.7% in Jan-Mar 16.

l In Thane, 60% localities saw an average price increase of 4%, pushing the Oct-Dec 15 Index value up by 2%. The balance localities saw prices drop of 3.8%, pushing down the Oct-Dec 15 Index by 0.6% leading to net increment of 1.2% in Jan-Mar 16.

[National Property Index]

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l Bangalore had 63% localities with average price increase of 3.1%, pushing the Oct-Dec 15 Index value up by 2%. The balance 37% localities saw prices drop of -2.7%, pushing down the Jan-Mar 16 Index by -1% leading to net increment of 1.6% in Jan-Mar 16.

l Pune had 59% localities with average price increase of 2% pushing the Oct-Dec 15 Index value up by 1%. The balance 41% localities saw average prices drop of 2% pushing down the Oct-Dec 15 Index by -1% leading to net increment of 0.4% in Jan-Mar 16.

l Noida had 60% localities with an average price increase of 2% pushing the Oct-Dec 15 Index value up by 2%. The balance 40% localities saw prices drop of 2% pushing down the Oct-Dec 15 Index by 1% leading to net drop of -1.0% in Jan-Mar 16.

l Greater Noida had 59% localities with an average price increase of 2% pushing the Oct-Dec 15 Index value up by 1%. The balance 41% localities saw prices drop of 2% pushing down the Oct-Dec 15 Index by 1% leading to net increment of 0.1% in Jan-Mar 16.

l Ghaziabad had 63% localities with an average price decrease of 3% pushing the Oct-Dec 15 Index value down by 1%. The balance 37% localities saw prices increment of 2% pushing up the Oct-Dec Index by 2% leading to net increment of 0.9% in Jan-Mar 16.

l New Delhi had two third of the localities witnessing more than 5% price increase in Oct-Dec 15. Compared to this about one third of the localities witnessed average price decline of 4%. This led to net increment of 2% in City Index for Jan-Mar 16.

l Gurgaon had 62% localities with an average price increase of 3% pushing the Oct-Dec 2015 Index value up by 2.3%. The balance 38% localities saw price drop of 2.3% pushing down the Oct-Dec Index by 0.5% leading to net increment of 1.7% for Jan-Mar 16.

l Chennai had 49% localities with an average price increase of 2.8% pushing the Oct-Dec 2015 Index value up by 1%. The balance 41% localities saw prices drop of 3.2% pushing down the Oct-Dec 2015 Index by

3% leading to net decline of -1.6% in Jan-Mar 16.

l Kolkata City Index witnessed a 0.75% increase in Jan-Mar 16 over the previous quarter; this was on account of three fourth of the localities witnessed average increase of 4% in prices over the last quarter. In comparison, only one fourth of the localities average price drop of 3.6%.

l Hyderabad had 60% localities with an average price increase of 2.4% pushing the Oct-Dec 15 Index value up by 1%. The balance 40% localities saw prices drop of 2.9% pushing down the Oct-Dec Index by 1%; this lead to net increment of 0.4% in City Index for Jan-Mar 15.

l Ahmedabad had two third of the localities with an average price increase of 4% pushing the Oct-Dec 15 Index value up by 3%. The balance one third of the localities saw average prices drop of 2.9% pushing down the Oct-Dec Index by 0.6%; this lead to net 2% increment in City Index value for Jan-Mar 2016.

[What does the consumer want?]

The current stagnation level in the Indian residential market is ascribed to various parameters like unaffordable price level

for consumers, project delays, and slow economic scenario leading to a wary consumer etc. Another important factor is that developer community has tried to push products which

were not necessarily in line with the consumer requirement. Lot of these projects came with many bells and whistles which tended to increase the price of end-product. In many instances, the built-up area of the apartments were increased to compensate for relatively low capital value (Rs/sq ft) and improve per

transaction cost. All these aspects combined together have contributed to the slowdown in the residential real estate market in the country.

It is important to understand what the consumer wants to ensure proper positioning

of the project both in terms of pricing as well as product offering. Analysis of consumer preference by price segments (Rs Lakh) by Magicbricks.Com shows that Rs 20-60 Lakh segment accounts for 46% share of consumer preference. The budget segment in Rs 60-100 Lakh has a further share of 23%. This shows that almost 70% of consumers in the country are looking for properties in Sub Rs 1 Crore price bracket.

When the consumer preference is looked from size of apartment perspective, we find that most preferred (31%) size is under 800 sq.ft. This size especially dominates in the Mumbai Metropolitan Region (MMR) with its high average capital values. In most other cities, built-up area from 1,200-1,400 sq.ft is preferred. The 800-1,000 sq.ft bracket is also gaining in consumer preference outside of the MMR in cities like Chennai, Ghaziabad and Kolkata.

Interestingly, consumer in few cities with relatively lower average capital value (Rs/sq ft) have higher preference for larger sized houses (1,400-1,600 sqft). These include cities like Ahmedabad, Bangalore, Hyderabad, Noida, Greater Noida and Kolkata. Gurgaon is an exception amongst cities where consumer preference is evenly spread across large sized residential units.

In terms of BHK format, 1 BHK is the most preferred format in the MMR. Outside of MMR, Pune has the highest consumer preference share for 1 BHK format. In other cities, except for Hyderabad, Kolkata, New Delhi and Gurgaon, 2 BHK is the most demand format. In the former, 3BHK is the most sought after residential format.

Correlating the BHK parameter and size of the apartment shows that 98% consumer associate 1 BHK with under 800 sq ft. Similarly, consumer preference is almost equally split between 800-1,000 sq ft and 1,000-1,200 sq ft for 2 BHK apartments. The 3 BHK apartment segment is associated with a wider range of built-up areas. Of these, 1,200-1,600 sq ft range accounts for 54% of consumer preference. About quarter of consumer preference in 3 BHK segment is from 1,600-1,800 sq ft ro 1,800-2,000 sq ft. Higher BHK format like 4 & 5 BHK are predominantly associated with 2,000-2,500 sq ft and higher than 2,500 sq ft format.

The graph above shows the consumer preference share across different budget segments in each of the cities. It clearly shows that lower budget levels dominate across most of the cities and consumer preference tapers as the price segment increases. However, there are certain exceptions where the consumer

preference is more evenly spread across higher budget ranges as well.

At city level, Gurgaon, Mumbai, New Delhi have consumer preference across all the budget segments. However, Gurgaon is a big exception as compared to other cities; it has the highest consumer preference in Rs 80 Lakh-2 Crore range. 50% consumer look for properties in the aforementioned budget range in the city. Mumbai leads in consumer preference in >Rs 2.5 Crore segment with 19% share of consumer preference. And is followed in second place by New Delhi with 10% preference share in this segment.

Greater Noida, Kolkata, Hyderabad and Ghaziabad emerge as cities where consumer preference is most conservative in terms of price level. These cities have almost 70% or more than 70% consumer preference in Rs 20-60 Lakh segment. Higher budget segments in Rs 60 Lakh-1 Crore form bulk of the balance consumer preference.

In other cities like Pune, Bangalore, Chennai, Navi Mumbai, Thane and Noida, while the lower budgets dominate, their share is not overwhelmingly large. Higher budget segment like Rs 60-80 Lakh also have reasonable share of consumer preference. When combined with Rs 80 Lakh-1 Crore price bracket, these account for 20%-30% of consumer preference.

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[PROPINDEX - DELHI][Key Takeaways]

Delhi needs to get its livability piece right

High property values, availability of cheaper green pasture and movement of jobs, industries and commerce to the

sister-cities, Noida and Gurgaon, has led to somber sales within Delhi.

The debate on whether unauthorized affluent neighborhoods should be regularized or not has eased and soon Sainik Farms, Anantram Dairy and Mahendru Enclave could get legalized. This would make it easier for residents longing for development work or harping for a legal tag that could service when they wish to sell their property. Delhi’s Azad Nagar (E) becomes the first to get the legal tag and realtors noted a price hike post this development.

Residents in unauthorized regularized colonies who haven’t paid property tax from 2004-2015

will have their interest and penalty waived off if they pay their dues in lump sum for this period. Currently, those who don’t pay their property tax before June 30, have to pay an interest of one per cent per month for that financial year and pay penalty for the years that follow.

Revised building bye-laws for Delhi envisages single window clearance, approval of building plans within a month and payment system. This was the need of the hour since various amendments post 1983 (last revision) could be confusing in understanding changes while filing applications. DDA started implementation from March 30, 2016 and the three municipal corporations (MC) will soon notify this. According to the new norms, any building with a height of 15 meters or more shall be considered high-rise.

Delhi Development Authority (DDA), which has planned three transit oriented development projects in East Delhi and Dwarka, is working on finalising the regulations. It has invited suggestions and objections from the public in this regard. Management of open spaces, sustainability of the project and street structure network are some of the key concerns.

Meanwhile, East Delhi is eager for a breather. Constant strikes by the MC staff left the entire city in a lurch, established areas getting into news for unkempt garbage stands leading to furore among residents.

The real problem today is to address livability - keep a check on air pollution, decongest streets, localities that are facing the brunt of pollution, in the name of infrastructure upgrade.

Sneha Sharon Mammen, Magicbricks Bureau

EDITORIAL

The City Index saw a 1.6% increment over the previous quarter after remaining mostly stable for the previous four quarters

In the Jan-Mar 2016 quarter, two third of the localities witnessed an average price increase of 5% while the remaining one third localities witnessed price drop of 4%

The quarterly price movement data shows that prices across seven out of nine budget segments existing in Delhi improved from the last quarter

The fall in prices was witnessed only in the Rs 3,000-4,000 per sq ft and in the Rs 10,000-12,000 per sq ft segments, which declined by 0.3% and 1.1%, respectively

In geographical terms, East Delhi provides residential options to buyers in the lower-mid and mid segments, though in terms of supply, East Delhi hardly compares with South and West Delhi and contributes only 13%. The region witnessed 4% increment on an average over the last quarter

North Delhi, led by Rohini, provides the least number of quality residential options and caters to the budget and mid segment buyers. The prices in the region remained stagnant this quarter

In West Delhi, where Dwarka forms the bulk of the supply, prices fell by more than 2% over the last quarter

South Delhi also witnessed mixed results, with five out of eight budget segments witnessing price increment over the quarter

Analysis across 68 key localities of Delhi showed that on an average, Ready-to-Move-in (RM) properties were just 0.6% less expensive than the Under Construction (UC) properties during the Jan-Mar 2016 quarter

The average difference in prices of UC and RM properties remained stagnant over the quarter. The weighted average price of RM properties was Rs 10,710 per sq ft, the same number for UC properties was Rs 10,775 per sq ft

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Properties distribution by capital value (Rs/sq ft)Oct-Dec 2015 to Jan-Mar 2016

The graph shows the distribution of actively traded properties by their capital values. These properties are distributed over a wide range dominated by entry level budget segments. The range of expensive properties available is in fact wider than any other city in India, except Mumbai

In spite of such a wide range of available properties, more than half of the city’s supply is concentrated in the Rs 3,000-10,000 per sq ft segment

The presence of unregulated colonies in the city also affects the pricing of residential development and more than 6% of the city’s supply is cheaper than Rs 3,000 per sq ft

The budget segment servicing the lower middle class, with pricing in the range of Rs 3,000-4,000 per sq ft forms one fourth of the city’s supply

Similarly, the budget segment servicing

The map shows the geographical spread of localities considered for calculating the City Price Index. These have been grouped to know the zone wise price trend in the city

Delhi had a more geographically dispersed development compared to some other cities of India. Except the north, the city has concentrically grown across all other directions

The city has historically grown asymmetrically with pockets of residential development between office complexes, green areas and other places of importance. Being the capital city, it houses more government complexes and buildings of national importance.

Delhi has a significant percentage of rural areas on its boundary, where development was not possible until the release of the new master plan 3 years back. These areas include L-zone, N-Zone, P1 and P2 Zones and J-zone

It accounts for 77% of consumer preference and 67% of actively traded properties in Delhi

Geographical distribution of localitiesSouth Delhi dominates the development landscape


The City Index for Delhi reflects the price movement across 68 prominent localities. These have been chosen using the twin criterion of share in the overall consumer preference as well as share of actively traded properties. The weight

assigned to each is its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index saw a 1.6% rise this quarter after being stable for 4 quarters. The Jan-Mar 2016 quarter had more localities with rise. Around two third localities saw a rise, averaging over 5%, pushing up the Oct-Dec 2015 value by 4%. The balance localities witnessed an average price drop of 4%

the upper middle class, with pricing in the range of Rs 8,000-10,000 per sq ft formed another one fourth of the city’s supply

Properties costlier than Rs 10,000 per sq ft formed 36% of the supply and reflected the buying power of the population in the city

The west side of the city is characterized by properties costing less than Rs 12,000 per sq ft on an average while the North region of Delhi with areas like Pitampura and Rohini, had supply in the Rs 12,000-17,000 per sq ft as well as the Rs 4,000-8,000 per sq ft

South Delhi is undoubtedly the costliest region of the city, and except a few pockets like Mehrauli and Chattarpur, all other micro-markets in the region have prices above Rs 10,000 per sq ft and also go upwards of Rs 26,000 per sq ft

The east side of the city, similar to the west, has most properties costing less than Rs 12,000 per sq ft on an average

[CITY INDEX]Jul-Sep 2013 to Jan-Mar 2016


Budget wise price changeOct-Dec 2015 to Jan-Mar 2016

To understand the contribution of various budget segments and localities in the Index movement, we have grouped 68 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price changes across geographies and their constituent budget segments

The quarterly price movement data shows that prices across seven out of nine budget segments improved from the last quarter. Of the seven, three budget segments defined by pricing of less than Rs 3,000 per sq ft, Rs 20,000-26,000 per sq ft and >Rs 26,000 per sq ft, have all shown price increment of 4%

The fall in prices was witnessed in the Rs 3,000-4,000 per sq ft and in the Rs 10,000-12,000 per sq ft segments

The price movement across zones:

East The east side of the city provides decent

residential options catering to lower and mid segments, constituting 13% of the city’s supply. This is concentrated in the < Rs 3,000 per sq ft and in the Rs 10,000-12,000 per sq ft budget ranges

Sarita Vihar and Laxmi Nagar are the key localities with average pricing of Rs 10,000 per sq ft and Rs 3,000 per sq ft, respectively

North North Delhi provides the least number

of quality residential options, with Rohini sectors forming a key fraction of the supply in this region. A significant portion of the supply is formed by the DDA developments

The Rs 12,000-17,000 per sq ft budget range covers localities such as Pitampura, and Rohini Sectors 9 and 13. The Rs 4,000-8,000 per sq ft budget range covers Rohini sectors which are further away from the city including Sectors 24 and 25

Geographic and budget wise price changeOct-Dec 2015 to Jan-Mar 2016


West West Delhi is a residential hub, with

developments in the Dwarka region providing homes to lakh of people. The area supports a significant half of the total supply for Delhi

Most supply in Dwarka sectors is in the Rs 8,000-10,000 per sq ft range

South South Delhi, with its mostly planned

developments, makes any home buyer aspire to own a home here

Most supply in these localities starts at Rs 17,000 per sq ft and goes upwards of Rs 30,000 per sq ft for Vasant Vihar, , Defence Colony etc

Centre Central Delhi consists of the costliest

localities of all in Delhi, but the amount of supply available for sale is extremely limited. Anand Niketan is the key locality here, with an average price of Rs 35,000 per sq ft, and has witnessed a price rise of more than 5% in the last quarter

Price change – Top localities by consumer preferenceOct-Dec 2015 to Jan-Mar 2016

Price trend basis construction statusJul-Sep 2013 to Jan-Mar 2016


Price change basis construction status Top localities by consumer preference in Jan - Mar 2016 period

The given graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 68 localities in Delhi shows that on an average, UC properties were 0.6% more expensive than the RM properties during the Jan-Mar 2016 quarter

The average percentage difference in the Under Construction versus Ready-

to-Move-in prices remained more or less stagnant over the previou quarter. While the weighted average price of RM properties was Rs 10,710 per sq ft, the same number for UC properties was Rs 10,775 per sq ft

The average prices of both UC and RM properties in Delhi increased by approximately 2% over the previous quarter

In terms of cumulative price increase, RM properties posted an increment of more than 10% over Sep 2013 to Mar 2016 period, while the price of UC properties moved by more than 20% during the same period

As the graph shows price trend in the top 10 localities by consumer preference. The prices moved in the -4% to +5% range in the last quarter for these key localities


Capital values and price change key localities

Anand Niketan 16660 to 52450 4.4% 13200 to 111600 1.46%Chhattarpur 2000 to 6290 -3.6% 10800 to 22800 4.22%Chittaranjan Park 9760 to 24000 4.1% 18000 to 45600 1.90%Defence Colony 17150 to 52540 3.5% 13200 to 103200 1.70%Dwarka Mor 3120 to 5370 -3.4% 14400 to 18000 3.88%Dwarka Sector 2 6660 to 11230 1.7% 10800 to 18000 1.72%Dwarka Sector 3 5900 to 11360 4.1% 10800 to 18000 1.70%Dwarka Sector 4 6160 to 10830 2.6% 10800 to 19200 1.78%Dwarka Sector 5 6360 to 10930 -0.8% 10800 to 19200 1.82%Dwarka Sector 6 6110 to 11350 2.2% 10800 to 19200 1.80%Dwarka Sector 7 5830 to 11180 3.2% 12000 to 20400 1.90%Dwarka Sector 9 6000 to 11330 1.6% 12000 to 20400 1.94%Dwarka Sector 11 6390 to 11420 -0.6% 10800 to 24000 1.88%Dwarka Sector 12 5820 to 11190 1.3% 10800 to 22800 1.96%Dwarka Sector 13 6380 to 10620 2.2% 9600 to 21600 1.88%Dwarka Sector 18 6470 to 11110 -0.5% 9600 to 20400 1.78%Dwarka Sector 19 5790 to 10900 -1.2% 9600 to 21600 1.89%Dwarka Sector 22 6110 to 11480 -0.4% 10800 to 21600 1.91%Dwarka Sector 23 2890 to 12330 -3.4% 10800 to 21600 2.27%East of Kailash 12220 to 28500 4.1% 14400 to 50400 1.56%Govindpuri Main 2590 to 4990 -3.4% 12000 to 21600 4.42%Greater Kailash 1 11110 to 30000 3.5% 15600 to 62400 1.88%Greater Kailash 2 10860 to 34280 3.5% 14400 to 61200 1.69%Green Park 16070 to 33980 4.1% 13200 to 63600 1.53%Gulmohar Park 21730 to 45310 4.1% 14400 to 76800 1.28%Hauz Khas 15400 to 35520 4.7% 15600 to 60000 1.50%Indraprastha Extension 7390 to 15620 1.2% 15600 to 27600 1.94%Janakpuri 5900 to 16250 -3.7% 14400 to 27600 1.92%Kailash Colony 9090 to 30000 4.1% 16800 to 57600 1.79%Kalkaji 7480 to 23280 4.1% 14400 to 42000 1.85%Mahavir Enclave Part 1 3610 to 6460 0.6% 12000 to 18000 2.99%Malviya Nagar 4000 to 18050 -3.4% 19200 to 42000 3.02%Mayur Vihar 1 3800 to 20000 4.4% 18000 to 36000 2.29%Mehrauli 2630 to 6220 3.9% 13200 to 24000 4.36%Moti Nagar 9670 to 14000 3.4% 9600 to 22800 1.34%New Ashok Nagar 3250 to 6250 4.7% 12000 to 30000 4.33%New Friends Colony 15000 to 33670 4.4% 9600 to 57600 1.26%Panchsheel Enclave 19440 to 36660 4.7% 18000 to 61200 1.41%Panchsheel Park 13880 to 50000 4.4% 13200 to 74400 1.32%Paschim Vihar 5920 to 15380 -1.5% 10800 to 28800 1.79%Patparganj 8220 to 13750 -1.3% 16800 to 26400 2.05%Pitampura 5550 to 16660 -3.4% 14400 to 32400 2.19%Rajouri Garden 6250 to 15870 4.7% 9600 to 26400 1.82%Rohini Sector 9 8800 to 18420 -4.0% 19200 to 30000 1.84%Rohini Sector 13 7910 to 18180 -3.6% 15600 to 31200 1.90%Rohini Sector 24 4610 to 10070 3.6% 12000 to 21600 2.34%Safdarjung Development Area 21170 to 42360 4.7% 12000 to 69600 1.21%Safdarjung Enclave 13330 to 37160 4.7% 13200 to 68400 1.60%Saket 3890 to 29030 -3.4% 8400 to 51600 1.85%Sarita Vihar 7140 to 13330 1.7% 14400 to 28800 2.06%South Extension 2 10880 to 31330 3.9% 15600 to 62400 1.72%Uttam Nagar 2440 to 5550 -0.9% 10800 to 21600 4.16%Uttam Nagar East 3000 to 4800 2.6% 10800 to 14400 3.28%Uttam Nagar West 2600 to 5380 -1.6% 12000 to 18000 3.71%Vasant Kunj 7910 to 18750 3.2% 19200 to 42000 2.29%Vasant Kunj Sector D 8660 to 16660 1.0% 16800 to 42000 2.27%Vasant Vihar 17360 to 56000 1.6% 19200 to 134400 1.82%Vasundhara Enclave 6660 to 12600 2.0% 15600 to 27600 2.28%Vikaspuri 5660 to 12880 -3.4% 13200 to 25200 2.08%

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD

GURGAON propindex.magicbricks.com VOL5, ISSUE 4; JAN-MAR, FY 2016-1711

[PROPINDEX - GURGAON][Key Takeaways]

Gurgaon beats all odds

Pro tip for all future home buyers in Gurgaon: Focus on its affirmatives.

Yes, residential supply in the city had taken a fall and HUDA is now officially a cash-starved body. The fall is the outcome of developers’ cautious attitude towards reducing their pent-up inventory before indulging in new ones. Fund-strapped HUDA is planning its way out even though it has received HUDCO’s approval for financial support.

Transparency is in pursuit by the Department of Town and Country Planning (DTCP). Property licensing is now online. Buyers can track the progress of developer applications to understand where they stand, which will automatically bring down the cloudiness around delivery timeliness. All processes

relating to change of land use and obtaining licence for projects will go online by June 30, 2016. Buyers will now have access to information such as filing of developer application, sanction of building plans, developer payments for infrastructure development to government besides the progress of the project. Minute details - notices/ orders by local offices will also be online.

The string of positives in this quarter also includes that DTCP will keep a check on the misuse of buyer’s money by builders on account of registration charges through a new policy. It states that developers will have to execute the conveyance deed within 15 days of receiving the registration charges from home buyers. Or else, the money should be refunded to allottees or builders could adjust this amount

against other dues. This will come as a relief to a number of home buyers.

The MCG is deliberating to let owners turn vacant plots into parking lots and earn money. This will decongest roads. The proposal for change is underway.

HUDA is upbeat about completing pending projects (from sanitation to water logging to completion of road projects) on priority. This will push up the liveability factor by a notch.

HUDA might mortgage its land bank to raise money for the stalled projects. Another approach being considered is the feasibility of building a commercial tower in commercial areas to rent out spaces to private parties.

As we said at the start, focus on affirmatives.

Magicbricks Bureau

EDITORIAL

The City Index saw a 2% increment over the previous quarter as more localities saw price increment than decline in the last quarter

In the Jan-Mar 2016 quarter 62% localities saw an average price rise of 3% while the balance 38% localities saw prices drop by 2%

Price movement across most budget segments has been marginal but positive. Only the Rs 5,000-6,000 per sq ft budget segments in the city saw a price decline of under 1% in the last quarter. The average price increase in other budget segments was a shade higher than 1%

In geographical terms, North Gurgaon zone, consisting of a few

localities along the northern stretch of Dwarka Expressway, had the highest price increment of 3%

Core Gurgaon consisting of localities/sectors along and between Golf Course Road, Golf Course Extension Road, Sohna Road and various phases of DLF had average price increment of less than 1%

New developing sectors along the Dwarka Expressway and New Town Gurgaon also had a dismal quarter. Prices in these sectors also practically remained stagnant

Analysis across 73 localities in Gurgaon showed that on an average, Ready-to-Move-in (RM) properties were 10% more expensive than

Under Construction (UC) properties in the Jan-Mar 2016 period. This shows that consumers continue to be vary of development risk associated with UC projects and are preferring RM properties

The average difference in prices of UC and RM properties has declined by 100 basis points to 10% from 11% in the Oct-Dec 2015 quarter

The weighted average price of RM properties was Rs 8,043 per sq ft, the same number for UC properties was Rs 7,208 per sq ft

The average price of both RM and UC properties increased over the last quarter by 2% and 3%, respectively

VOL5, ISSUE 4; JAN-MAR, FY 2016-17 propindex.magicbricks.com GURGAON12

Properties distribution by capital value (Rs/sq ft)Oct-Dec 2015 to Jan-Mar 2016

This graphs shows the distribution of actively traded properties by their capital value. This distribution shows the expensive nature of real estate in the Gurgaon market

The entry level budget segments are equivalent to the mid-level budget segments in most other cities. Supply in the city is evenly distributed across its entry and mid budget segments. Further it was noted that the dominant budget segment by supply was not the lowest budget segment of the city

The largest budget segment with 31% share is the Rs 9,000–10,000 per sq ft. The two lowest budget segments within Rs 4,000–6,000 per sq ft account for 33% share of supply in Gurgaon

Unlike other cities, the overall price movement in the city will be determined equally by its mid-budget segments as well as by the lower budget segments

The map shows the geographical spread of localities considered for calculating the City Price Index. The localities have been grouped together to understand the zone wise price trend in the city

Development in Gurgaon can be divided into two broad halves which are on either side of NH-8. Central, south and east zones consist of established residential areas and those where development activity is still under progress. Though these projects are likely to be delivered over the next couple of years

The western zone which is east of NH-8 consists primarily of sectors with under construction projects. Few projects have been delivered. The main driver for this zone is the Dwarka Expressway/Northern Peripheral Road which will provide connectivity to Delhi

The north zone consists of a few residential areas on the Gurgaon-Delhi border and along the northern end of Dwarka Expressway

Geographical distribution of localitiesWestern zone accounts for most of new development activity


The City Index for Gurgaon reflects the price movement across 73 prominent localities. These have been chosen using the twin criterion of share in the overall consumer preference as well as share of actively traded properties. The weight

assigned to each locality is its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high preference as well as high number of actively traded properties in the secondary market

The City Index saw a 2% rise over the last quarter. The Jan-Mar 2016 quarter had more localities with price rise than decline. At least 70% localities saw an average increase of 3%, pushing up the Oct-Dec 2015 Index by 2.6%. The balance 30% localities saw prices drop by 2%, pushing down the Oct-Dec 2015 Index by 0.6% leading to a net increment of 2% in the City Index for Jan-Mar2015 quarter

The geographical spread of budget segments show that the western zone with large scale development activity has properties primarily in the Rs 4,000-6,000 per sq ft price bracket with the Rs 4,000-5,000 per sq ft being the dominant sub-segment

The east zone comprises primarily of established residential areas in the mid to premium segments. Even fresh development in this zone is in the higher budget segments. This includes prominent localities like Golf Course and Golf Course Extension Road and various DLF phases. The premium Rs 12,000-18,000 per sq ft price range falls within this zone

The south zone has a mix of established and under-construction residential localities. It covers the price range from Rs 4,000-10,000 per sq ft

Together, the south and east zones presently account for 72% share of consumer preference

[CITY INDEX]Jul-Sep 2013 to Jan-Mar 2016



To understand the contribution of various budget segments and localities in the Index movement, we have grouped 73 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price changes across different geographies and their constituent budget segments

Price movement across most budget segments has been marginal but positive. Only the Rs 5,000-6,000 per sq ft budget segment saw a price decline of under 1% in the last quarter. The average price increase in other budget segments was a shade higher than 1%

The price trend in a given budget segment varied depending on the zone


East Price increment in the Rs 6,000-7,000 per

sq ft and the Rs 10,000-12,000 per sq ft segments was higher as compared to the overall market trend. Prices increased by 3.9% and 3.2% respectively, compared to the market average of 0.5% and 1.5%

Localities like Ardee City in the former and various DLF phases in the latter budget segments saw higher price increase than the market average

Premium budget segments had same level of average price movement as in the overall market. Individually, Golf Course Road in the Rs 14,000-18,000 per sq ft bracket saw a price increase of 4.7%

North Localities in this zone also witnessed

more than the market average price gain

Sector 112 and Palam Vihar had a price increment of 3.6% and 2.7%, respectively

West The west zone is being marketed as the

‘New Gurgaon’. Price trend in this zone



was in-line with the market average for the Rs 4,000-6,000 per sq ft bracket

The high preference locality of Dwarka Expressway saw a marginal price change

Individually, Sectors 82, 88A and 92 saw more than 3% price increment

South In a few segments, the price movement

was more than the market average

Price decline in the Rs 5,000-6,000 per sq ft bracket was 2.7% against the average of 0.62%. Similarly, price rise in the Rs 7,000-8,000 per sq ft segment was 3% against the market average of 1.6%

A marginal price decline was seen in the Rs 4,000-6,000 per sq ft bracket as against a marginal rise at the city level

Centre The Rs 7,000-8,000 per sq ft bracket had

a higher price rise (4%) compared to the market average of 1.6%

This was because of price increment in Sectors 33 and 46 in the zone




Price change basis construction status Top localities by consumer preference in Jan-Mar 2016 period

The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 73 localities shows that on an average, RM properties were 10% more expensive than UC properties in the Jan-Mar 2016 quarter

The average difference in prices has declined by 100 basis points from 11% in the Oct-Dec 2015 quarter. While the

weighted average price of RM properties is Rs 8,043 per sq ft, the same number for UC properties was Rs 7,208 per sq ft

The average price of both RM and UC properties has increased over the last quarter by 2% and 3%, respectively

In terms of price increase, UC properties posted a price decline of 7% over the Sep 2013 to Mar 2016 period, while the price of RM properties increased

marginally by 1% in the same period. The price movement in case of both RM and UC properties has improved due to increment over the last quarter

As the graph below shows price trend in the top 10 localities by consumer preference. While equal number of localities had price rise or drop of RM and UC properties, more localities had higher price increase for UC properties



Ardee City 4770 to 9370 3.9% 10800 to 27600 2.74%Dwarka Expressway 2760 to 8000 0.8% 7200 to 20400 2.83%Golf Course Extension Road 6900 to 10290 -3.4% 9600 to 27600 2.06%Huda Colony 5260 to 10510 4.4% 10800 to 28800 2.53%Malibu Town 5290 to 11000 1.7% 13200 to 26400 2.50%Manesar 2960 to 5690 -0.5% 7200 to 14400 2.50%MG Road 9680 to 13920 -1.2% 15600 to 44400 2.55%Nirvana Country 5800 to 10600 -2.3% 13200 to 26400 2.41%Palam Vihar 5160 to 10750 2.7% 9600 to 26400 2.27%Sector 3 5110 to 8580 -3.4% 14400 to 43200 3.33%Sector 31 6200 to 13410 -3.4% 10800 to 33600 2.21%Sector 33 4800 to 9700 3.9% 13200 to 26400 2.70%Sector 43 4750 to 12510 -0.5% 9600 to 31200 2.56%Sector 45 4960 to 11000 3.5% 8400 to 27600 2.24%Sector 46 5480 to 10500 4.4% 10800 to 26400 2.24%Sector 47 5240 to 12320 3.4% 12000 to 30000 2.45%Sector 47 Block A 5410 to 11360 3.8% 13200 to 28800 2.40%Sector 48 7030 to 11370 3.9% 12000 to 31200 2.22%Sector 49 7200 to 10210 -3.4% 12000 to 27600 2.32%Sector 51 5830 to 9810 0.1% 10800 to 37200 2.78%Sector 52 3570 to 10600 -1.6% 6000 to 40800 3.01%Sector 53 9000 to 15620 -3.4% 14400 to 40800 2.22%Sector 54 7690 to 18590 3.5% 10800 to 44400 1.85%Sector 56 5000 to 9370 1.0% 9600 to 26400 2.49%Sector 57 5180 to 9390 -0.4% 8400 to 28800 2.47%Sector 58 8180 to 11520 -0.1% 13200 to 27600 2.07%Sector 61 7690 to 9390 -0.4% 12000 to 22800 2.17%Sector 62 6760 to 9310 -1.2% 13200 to 21600 2.31%Sector 66 6630 to 9420 0.6% 12000 to 22800 2.25%Sector 67 4700 to 9800 2.2% 10800 to 18000 2.06%Sector 69 4200 to 6830 -2.0% 12000 to 18000 2.92%Sector 71 5380 to 7290 0.4% 10800 to 19200 2.43%Sector 72 5580 to 8570 -2.6% 15600 to 19200 2.51%Sector 81 3980 to 5810 0.0% 6000 to 13200 2.06%Sector 81A 4210 to 5510 -0.4% 6000 to 13200 2.05%Sector 82 3300 to 7650 -3.1% 6000 to 13200 1.84%Sector 82A 3500 to 7910 -4.3% 6000 to 16800 1.86%Sector 83 4130 to 6090 0.9% 6000 to 12000 1.75%Sector 85 3400 to 5820 2.6% 7200 to 10800 1.96%Sector 86 3720 to 5440 -4.0% 7200 to 9600 1.91%Sector 89 3340 to 7200 0.0% 7200 to 13200 2.13%Sector 92 2780 to 6700 3.5% 7200 to 12000 2.19%Sohna Road 2000 to 12850 0.5% 9600 to 30000 2.82%South City 1 7040 to 13520 -3.8% 9600 to 38400 2.34%South City 2 6480 to 10680 4.4% 12000 to 26400 2.26%Suncity 6660 to 15970 1.8% 10800 to 44400 2.23%Sushant Lok 1 7230 to 11960 4.4% 12000 to 38400 2.78%Sushant Lok 2 4440 to 10580 4.1% 9600 to 24000 2.31%Sushant Lok 3 4400 to 10680 -1.7% 8400 to 32400 2.62%Uniworld Resorts 8470 to 11440 1.3% 12000 to 32400 2.03%Uppal Southend 5510 to 9670 4.1% 10800 to 25200 2.55%Vatika City 7500 to 10760 -0.9% 13200 to 28800 2.25%


NOIDA propindex.magicbricks.com VOL5, ISSUE 4; JAN-MAR, FY 2016-1718

[PROPINDEX - NOIDA][Key Takeaways]

Noida banks on commerce, new policies

The optimism can be charted because of corporate houses, start-ups, PSUs and manufacturing units finding it the most

viable space, thanks to large plates of quality land or cheap rentals. Resultantly, while the pace of real estate transactions is slow, investors are hopeful it is not a stand still scenario.

Focus has shifted to this particular region for various reasons - breathing space when compared to more crowded Delhi areas, price equation as opposed to the Gurgaon market, a booming job market plus affordability. The burgeoning inventory is a concern, nevertheless, it is a promise of ample supply at prices within one’s means. With the cosmo-populace brought within Noida’s fold, the sector’s bigwigs are foraying into the sub-markets with properties that suit all segments.

Stamp duty hike by 2% has led to some discontentment. The amendment effective from 1 April, 2016, is a holdup for those looking in Noida, Greater Noida and Yamuna Expressway. With the NGT’s verdict last year, relieved buyers felt Noida had made a strong comeback. For a market that was slowly picking up, the hike is a dampener with an additional burden of Rs 50,000-2,00,000 per unit depending upon the size. When axed with other charges such as transfer fees and lease rent, affordability is knocked out. Would it dent future demand or will the micro market still benefit as Delhi’s affordable cousin, is the buzz in the town.

Change makers in the near future could be implementation of the RERA act and the metro. Investors understand that the scope of capital appreciation in the long term is confined to

projects within a convenient distance from physical infrastructure, absorption rates and those developed by credible developers.

In the wake of delayed projects, the Noida authority has set to put up details of ongoing construction online. This is a progressive move and will help thousands keep a tab. Meanwhile, the federation of RWAs has also brought to light the long standing demand of making all properties freehold as opposed to the 99 years of lease which makes buyers insecure.

To up the liveability quotient (and to address rising levels of pollution), the administration of UP’s Gautam Buddh Nagar has also altered work timings of industry, retail staff and school children. Such innovative measures could work constructively both for citizens and realty.

Magicbricks Bureau

EDITORIAL

The City Index saw a 1% increment over the previous quarter as more localities saw price increment than the last quarter

In the Jan-Mar 2016 quarter 60% localities saw an average price increase of 2% while the balance 40% saw prices drop by 2%

Price movement across most budget segments was marginal with equal number of segments witnessing price increase and decline. The largest price movement was seen in the <Rs 3,000 per sq ft segment which had almost 5% decline in prices. Average price rise in other budget segments was less than 1% indicating a stagnant market

Overall, the price change varied from low of -4.9% to maximum of 1.7%

In geographical terms, the western zone in Noida, consisting of prime residential localities, with an average price of over Rs 6,000 per sq ft, was the only region with price increment slightly less than 3%

Other major zones witnessed average price decline of less than 1%. The north zone in Noida, which accounts for more than 50% of consumer preference and supply in the secondary market, had the biggest price drop of 1.08%

Analysis across 35 localities in Noida showed that on an average, Ready-to-Move-in (RM) properties were

11% more expensive than Under Construction (UC) properties in the Jan-Mar 2016 period. This shows that consumers continue to be vary of development risk associated with UC projects and are preferring RM properties

The average difference in prices of UC and RM properties remained at the same level as in the Oct-Dec 2015 quarter. The weighted average price of RM properties was Rs 5,555 per sq ft, the same number for UC properties was Rs 4,935 per sq ft

The average price of both RM and UC properties has increased over the last quarter by 1% each

VOL5, ISSUE 4; JAN-MAR, FY 2016-17 propindex.magicbricks.com NOIDA19

Property distribution by capital value (Rs/Sq ft)Oct-Dec 2015 to Jan-Mar 2016

The adjacent graphs shows the distribution of actively traded properties by their capital values. When compared with other prominent constituents of the National Capital Region (NCR), Noida is the ‘affordable’ destination of the region. It is also the biggest residential real estate market of NCR

With almost 72% of the secondary market inventory in the Rs 4,000–6,000 per sq ft range, the supply is concentrated in a narrow price segment

A typical 1200 sq ft home in Noida will cost between Rs 48 - 72 lakh. This price segment also comprises 81% share of consumer preference in the city

The higher budget segments have small share of the secondary market. These premium localities are situated adjacent to the central business district of Noida

This map shows the geographical spread of localities considered for calculating the City Price Index. The localities have been grouped together to understand the zone wise price trend in the city

New developments in Noida have taken place primarily in two directions - one along the Noida-Greater Noida Expressway towards south-east and another in the easterly direction along and off the road connecting it with Greater Noida

The north zone in the map corresponds to new development in the easterly direction of the city. While areas in the center, south and east zones correspond to sectors along and off the Noida Expressway, the center of the map is not the same as the Central Business District/core areas of the city

Localities in the west, towards the top of the map, are the core areas of the city which are the most prime areas of Noida

Geographical distribution of localitiesNorth zone accounts for bulk of supply in the secondary market


The City Index for Noida reflects the price movement across 35 prominent localities. These have been chosen using the twin criterion of share in the overall consumer preference as well as share of actively traded properties. The weight

assigned to each locality is its share of preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index saw a 1% rise over the previous quarter. The Jan-Mar 2016 quarter had more localities with price rise than decline. At least 60% localities saw an average increase of 2%, pushing the Oct-Dec 2015 Index up by 2%. The balance 40% localities saw a price drop of 2%, pushing down the Oct-Dec 2015 Index by 1% leading to net rise of 1% in the City Index for Jan-Mar 2015 quarter

Given the development pattern of Noida, sectors or localities situated towards the south along and off the Noida-Greater Noida Expressway or towards east along access road to Greater Noida West account for most of the supply

The supply in the entry level budget of Rs 3,000-4,000 per sq ft segment is concentrated primarily in the north zone located along and off the Noida-Greater Noida link road towards east of the city center. A few sectors in the south zone, located towards the end of the Noida Expressway, also have options in this budget segment

The dominant Rs 4,000-6,000 per sq ft price range is again concentrated in the north zone. Though in the higher Rs 5,000-6,000 per sq ft segment, the east zone has a 35% share

The higher price range of the budget segment of Rs 6,000-11,000 per sq ft is concentrated in the west and central zones of the city

CITY INDEXJul-Sep 2013 to Jan-Mar 2016




Price movement across most budget segments has been marginal but positive. The price decline was in the Rs 3,000-4,000 per sq ft and the Rs 5,000-6,000 per sq ft budget segments. The average price increase in other segments was less than 1% indicating a stagnant market

The price trend in a given budget segment witnessed some variations across different zones in the city


East For the Rs 4,000-5,000 per sq ft bracket,

the price trend in the east zone was contrary to market trend. The price in this bracket declined marginally as opposed to increment at the city level

Price in the other segments in the zone fell in-line with general market trend

North North zone is important as it accounts for

over 50% share of preference and supply in the secondary market

The prices across all budget segments fell in the last quarter; even in those which witnessed marginal gain at the city level

The Rs 3,000-4,000 per sq ft bracket had a decline (2.1%) as compared to 1.8% at the city level. The Second segment with a drop was the Rs 6,000-7,000 per sq ft bracket with 3.4% decline

West The price trend in the west zone was

positive across all budget segments present in this zone



The price increment was much higher than the city average. In the Rs 4,000-5,000 per sq ft segment, the price rise of 2.7% was seen as against the city average of under 1%

In the Rs 6,000-7,000 per sq ft and the Rs 7,000-11,000 per sq ft segments, the rise was 3.1% and 3%, respectively

South Price trend was in-line with the market

movement. But the price increment/decline was on the higher side

Price gain in the Rs 4,000-5,000 per sq ft and drop in the Rs 5,000-6,000 per sq ft segments was 2.9% and 3.4% as against market average of 0.7% and -1.8%

Centre Price level in the dominant Rs 7,000-

11,000 per sq ft segment witnessed a decline as against the market average of a slight increase





The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under-Construction (UC) properties. Analysis across 35 localities shows that on an average, the RM properties were 11% more expensive than UC properties in the Jan-Mar 2016 quarter

The average difference in prices has remained stagnant at the same level as in the Oct-Dec 2015 quarter. While the

weighted average price of RM properties was Rs 5,555 per sq ft, the same number for UC properties was Rs 4,935 per sq ft

The average price of both RM and UC properties rose by 1% in the last quarter

In terms of price increase, UC properties posted a price increment of 2% over Sep 2013 to Mar 2016 period, while the price of RM properties saw a decline of 9% during the same period. The price

movement in case of both RM and UC properties improved due to increment over the last quarter

As the graph below shows price trend in the top 10 localities in Noida by consumer preference. It shows that while equal number of localities had price decline for both RM and UC properties, the price decline in the case of RM properties was higher



Kendriya Vihar 2 4180 to 6620 -3.4% 8400 to 25200 2.72%Noida Greater Noida Express Way 2770 to 6500 -3.4% 9600 to 16800 3.23%Sector 29 5000 to 10280 2.6% 10800 to 33600 2.77%Sector 34 4220 to 8930 -3.4% 15600 to 24000 3.13%Sector 37 3780 to 11530 4.0% 12000 to 38400 3.05%Sector 44 6410 to 16850 2.4% 13200 to 31200 2.06%Sector 45 4200 to 7580 3.5% 13200 to 21600 2.93%Sector 47 5330 to 7770 3.4% 10800 to 22800 2.82%Sector 51 5750 to 7940 0.1% 10800 to 20400 2.50%Sector 52 4720 to 9500 -1.6% 12000 to 30000 2.97%Sector 61 5750 to 8740 -0.4% 9600 to 24000 2.43%Sector 62 4160 to 7550 -1.2% 9600 to 21600 2.74%Sector 71 2660 to 7610 0.4% 7200 to 22800 2.70%Sector 74 4410 to 5360 -0.3% 9600 to 15600 2.81%Sector 75 3910 to 5660 2.5% 9600 to 15600 2.83%Sector 76 4040 to 5640 0.2% 9600 to 16800 2.92%Sector 77 4440 to 6400 0.0% 9600 to 16800 2.59%Sector 78 3710 to 6840 -2.0% 8400 to 18000 2.66%Sector 82 4000 to 7420 -3.1% 9600 to 24000 2.91%Sector 93 3910 to 8830 -3.4% 10800 to 24000 2.75%Sector 93A 3820 to 11710 4.4% 8400 to 25200 2.29%Sector 93B 5010 to 10840 -0.1% 15600 to 24000 2.49%Sector 119 3800 to 6000 -0.5% 8400 to 16800 2.65%Sector 121 2000 to 6620 3.9% 9600 to 18000 3.92%Sector 128 4080 to 9720 2.7% 13200 to 20400 2.39%Sector 134 3380 to 5140 1.7% 12000 to 16800 3.51%Sector 137 4090 to 6090 -0.8% 9600 to 15600 2.62%Sector 168 3820 to 6170 2.9% 9600 to 18000 2.61%


GREATER NOIDA propindex.magicbricks.com VOL5, ISSUE 4; JAN-MAR, FY 2016-1725

[PROPINDEX - GREATER NOIDA][Key Takeaways]

Better times expected in future

The year started with assurances to farmers from the Greater Noida Industrial Development Authority (GNIDA). For

those who are unaware of the tussle between the two, farmers of villages in Greater Noida had claimed extra compensation on the land acquired by builders and the government for several residential and infrastructure projects. The fight for the same has been raging since 2011. With the Supreme Court’s verdict of handing over developed land to the extent of 10% to the farmers, the fight seems to have reached its conclusion. This will impact property rates across Greater Noida and Noida.

To move on to some more positives, the quarter started with the GNIDA initiating schemes in residential, industrial, institutional and mixed land use categories. Also available were

shops and kiosks on an open-ended scheme. To spell it out simply, Greater Noida is in for added commercial, industrial and residential development. A total of about 169 residential plots are being allotted on a single bid system. For buyers, this could be another impetus to invest in Greater Noida’s realty.

Dwelling on infrastructure, some key projects - healthcare, power, water, transport (Metro) - might get a Rs 7,000 crore push by the Authority. The sum will expedite the projects, upping the liveability quotient.

Very recently, realty along the Greater Noida Metro lines got more space. The state cabinet approved a rise in FAR by 0.5. This will be applicable within a 1,000-metre radius of the Metro. The sale of the additional space is

expected to go up and generate Rs 3,500- 4,000 crore to be used for funding the Noida-Greater Noida Metro track (under construction) and improve the Metro infrastructure.

The not-so-good news for buyers is the stamp duty hike. Expect a 7% hike, which will put an extra Rs 1-2 lakh burden on each buyer, while the revenue department will earn an additional Rs 100 crore. The increase will come into effect after notification from the administration authorities. Till then, buyers are safe.

It was a relatively good quarter for the real estate sector. For buyers and builders alike, the developments will bring in bucket-loads of benefits in future. Increase in stamp duty as and when it happens needs to be accepted with a pinch of salt.

Magicbricks Bureau

EDITORIAL

The City Index saw a 1% increment over the previous quarter as more localities saw price increment than the last quarter

In the Jan-Mar 2016 quarter 59% localities saw an average price increase of 2% while balance 41% localities saw prices drop by 2%

Price movement in the high preference budget segments of Rs 3,000-3,250 per sq ft and Rs 3,250-3,500 per sq ft was marginal. While the former had a 2% rise, the latter saw a drop of 1%

Other budget segments witnessed a price increment from 1% to 3%

In geographical terms, the western zone of Greater Noida centred on

Noida Extension, which accounts for over 60% supply in the secondary market and 36% of consumer preference, saw a decline in prices of less than 1%

The south zone of the city centred on Pari Chowk, with the highest share (44%) of consumer preference, also witnessed a decline in price level of less than 1%

The highest price movement was in the east zone which saw 3% increment in price level. This consists of localities east of the city center

Analysis across 18 localities in Greater Noida showed that on an average, Ready-to-Move-in (RM) properties were 18% more

expensive than Under Construction (UC) properties in the Jan-Mar 2016 period. This shows that consumers continue to be vary of development risk associated with UC projects and are preferring RM properties

The average difference in prices of UC and RM properties has increased by 100 basis points as compared to the Oct-Dec 2015 quarter. The weighted average price of RM properties was Rs 3,873 per sq ft, while the same number for UC properties was Rs 3,179 per sq ft

The average price of both RM and UC properties has increased over the last quarter by 2% and 1%, respectively

VOL5, ISSUE 4; JAN-MAR, FY 2016-17 propindex.magicbricks.com GREATER NOIDA26

Property distribution by capital value (Rs/Sq ft)Oct-Dec 2015 to Jan-Mar 2016 The graphs shows the distribution of

actively traded properties in the city by their capital values

The graph shows that 86% secondary market supply in the city is in a narrow budget range of Rs 3,000-3,500 per sq ft. Of this 80% is concentrated in a still narrower range of Rs 3,250-3,500 per sq ft. A very small percentage of properties are available in the higher segments

It is this low budget range which positions Greater Noida as a relatively less expensive extension of Noida. This allows for very large scale residential development activity to attract demand in the lower budget segments

Most of the development is located in the northern stretch of Greater Noida which lies east of Noida. This consists of Noida Extension under the western zone as well as localities in the north zone. Together,

The map shows the geographical spread of localities considered for calculating the City Price Index. These localities have been grouped together to understand the zone wise price trend in the city

Development activity in Greater Noida is concentrated in two zones - west and south zones. Within the west zone, Noida Extension or Greater Noida West is the hub of development. This single locality accounts for 35% and 48% share of consumer preference and secondary market supply in Greater Noida. Given its connectivity and accessibility from Noida, it has been positioned as Noida Extension

The south zone has 44% share of consumer preference and consists of prime residential areas like Pari Chowk. Sectors along and off the Yamuna Expressway also fall in this zone and have recorded more than 50% share of consumer preference

Geographical distribution of localitiesLop sided development concentrated in one zone


The City Index for Greater Noida reflects the price movement across 18 prominent localities. These have been chosen using the twin criterion of share in the overall preference in Greater Noida as well as share of actively traded properties. The

weight assigned to each is its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high preference as well as a high number of actively traded properties in the secondary market

The City Index saw a 1% rise over the last quarter. The Jan-Mar 2016 quarter had more localities with price rise than drop. At least 65% localities saw an average rise of 2%, pushing up the Oct-Dec 2015 Index. The balance 35% localities saw a drop by 2%, pushing down the Oct-Dec 2015 Index by 1% leading to net rise of 1% in the City Index for Jan-Mar 2015

these zones have 40% share of consumer preference and 67% share of secondary market supply.

While the north zone has supply in the <Rs 3,000 per sq ft and the Rs 3,000-3,250 per sq ft bracket, the west zone has supply predominantly in the Rs 3,250-3,500 per sq ft segment

The south zone has supply across the Rs 3,000-5,000 per sq ft range. The more expensive supply in the Rs 4,000–5,000 per sq ft range is available in and around the city center areas like Pari Chowk, the core area of the city as well as an established prime residential locality

The less expensive supply in this segment is found along the Yamuna Expressway further south of these localities

Price level in the east zone varies depending on their proximity to the city center in Pari Chowk





Price movement in the high consumer preference budgets of Rs 3,000-3,250 per sq ft and the Rs 3,250-3,500 per sq ft was marginal. While the former had a 2% price rise, the latter saw a drop of 1%

Other budget segments witnessed a price increment from 1% to 3%


East Price trend in the east zone was positive

across all budget segments of the zone

In case of the Rs 3,750-4,000 per sq ft and the Rs 4,000-5,000 per sq ft bracket, the price increase was higher than the market average. While in the lower budget segments, it was lower

Sector Pi in the Rs 4,000-5,000 per sq ft bracket witnessed a 5% price increase

North This zone has properties in the lower

budget segments

The price trend in these segments was almost in-line with the market average

West The west zone has most of the city’s

supply in the Rs 3,250-3,500 per sq ft price bracket

Price trend in this segment in the west zone defines the overall market trend. Hence, the trend in this segment was in-line with the market average

While the market saw a drop of 1% in the average values, the zone saw a decline of 0.8% in the price levels



This prices in this zone and budget segment remains stagnant for all practical purposes.

South Movement in the prices of some budge

segments in the southern zone was higher than the market averages. In others, the price change in the zone defined the market average

In the Rs 3,000-3,250 per sq ft budget, price in the zone increased by 3.9% as against the market average of 1.9%. This increase was because of gain in the high consumer preference locality like Yamuna Expressway

The Rs 4,000-5,000 per sq ft segment saw a decline of 1.2% against the market average of 0.8%. This was because of the drop in prices in the important localities like Pari Chowk

Centre In the central zone, the price changes

were in line with the market average

Price change-Top localities by consumer preferenceOct-Dec 2015 to Jan-Mar 2016




The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 18 localities in Greater Noida shows that on an average, the RM properties were 18% more expensive than the UC properties in the Jan-Mar 2016 quarter

The average difference in prices has increased by 100 basis points as

compared to the Oct-Dec 2015 quarter. While the weighted average price of RM properties was Rs 3,873 per sq ft, the same number for UC properties was Rs 3,179 per sq ft

The average price of both RM and UC properties increased over the last quarter by 2% and 1%, respectively

In terms of price increase, the UC properties posted a price decline of 4%

over the Sep 2013 to Mar 2016 period, while the price of RM properties saw a marginal increase of 1% in the same period. Price movement in case of both RM and UC properties has improved due to increment over the last quarter

The graph below shows price trend in the top 10 localities of Greater Noida by preference. It shows that more localities saw price rise in case of UC properties



Chi 4 4550 to 5200 0.8% 8400 to 12000 2.34%Chi 5 2780 to 4020 -0.9% 6000 to 12000 2.85%Omega 1 3200 to 4980 1.1% 6000 to 12000 2.54%Omicron 1 2400 to 4000 0.4% 7200 to 13200 3.04%Omicron 3 2000 to 3640 3.0% 7200 to 7200 3.04%Pari Chowk 2000 to 8200 -3.2% 6000 to 25200 2.75%Sector 1 2510 to 4130 -1.3% 6000 to 13200 3.04%Sector 4 2000 to 4820 1.1% 8400 to 16800 3.62%Sector MU 2850 to 4990 3.5% 6000 to 9600 2.07%Swarn Nagari 3100 to 3930 -5.0% 7200 to 10800 #N/AYamuna Expressway 2010 to 4660 3.9% 6000 to 10800 2.89%Zeta 1 2090 to 4540 1.3% 6000 to 14400 3.25%


GHAZIABAD propindex.magicbricks.com VOL5, ISSUE 4; JAN-MAR, FY 2016-1732

[PROPINDEX - GHAZIABAD][Key Takeaways]

Ghaziabad undergoes infra make-over

Ghaziabad is inching its way towards realising the Smart City goal. The Ghaziabad Development Authority (GDA),

more specifically the Nagar Nigam Ghaziabad is concentrating on infrastructure development.

For buyers looking to invest in Ghaziabad, here’s a quick snapshot of the infrastructure growth. Expect a six-lane elevated road upto gate-2 Raj Nagar Extension and the metro line from Dilshad Garden to the new bus stop. Works on four-lane link road from NH-24 to NH-58 is almost 90% complete. The remaining 10% includes construction of the railway over bridge, which is expected to finish within 3 months.

Similarly, the widening of NH-24 is in full swing, which will smoothen the connectivity to Delhi and in turn, directly affect the real estate

of Ghaziabad. Construction of the Northern Peripheral Road and the Eastern Peripheral Expressway is already underway which will pass through Ghaziabad and enhance its connectivity to Dasna. Widening of Hindon Canal, passing from Ghaziabad to Delhi, is expected to have the same effect on the realty.

In short, Ghaziabad is getting a dose of infrastructure makeover. As a buyer, it depends upon where you want to buy a property, just ensure your asset is near it to enjoy the benefits.

GDA’s promptness to sanction developer plans provides convenience to buyers. To combat the issue of residential project delivery timelines, the Authority is undertaking measures to work closely with the developers and coaxing them to submit their plans along with no objection

certificates of different departments such as fire, pollution, environment, structure safety, height clearance, etc for a quick approval.

An extension of infrastructure woes to combat traffic snarls within the city and on roads connecting to Noida and Delhi, the NHAI is planning to elevate the NH-24 from a four-lane to fourteen-lane. A flyover in Sector 62 near Shipra Mall is also underway to ease traffic problems. Daily commuters to other parts of NCR might find this news comforting.

The city is raising its liveability standards by trying to bring it on par with its NCR peers. Infrastructure is key to the real estate market and hopefully Ghaziabad accomplishes success in this aspect.

Magicbricks Bureau

EDITORIAL

The City Index saw a 1% increment over the previous quarter even as more localities saw price decline than increment as compared to the last quarter. This was because net price increment was higher than the price decline

In the Jan-Mar 2016 quarter 37% localities saw an average price increase of 2% while balance 63% localities saw prices drop by 1%

The last quarter has been dismal for the realty sector in the city. Of the five major budget segments, price level in four saw a decline. Only one segment saw marginal price rise

The dominant budget segment of Rs 4,000-5,000 per sq ft saw a 2%

decline. Only the Rs 5,000-6,000 per sq ft segment had a marginal increment of 1%. Other segments saw a decline of 1% to 4%

In geographical terms, the western zone, consisting of all premium localities bordering Delhi, saw a decline in prices by under 1%. This zone also accounts for over 70% of consumer preference and 62% of supply in the secondary market

The south zone of the city centred on Crossings Republik saw a price decline of slightly more than 1%

The north zone, with low-cost housing options centred around Raj Nagar Extension, also saw a price decline of 1%.

Analysis across 46 localities Ghaziabad city showed that on an average, the RM properties were 5% more expensive than the UC properties during the Jan-Mar 2016 quarter

The average difference in prices has increased by 500 basis points from 11% in the Oct-Dec 2015 quarter. While the weighted average price of RM properties was Rs 4,441 per sq ft, the same number for UC properties was Rs 4,222 per sq ft

The average price of RM and UC properties has increased and declined by 1% and 3% over the previous quarter, respectively

VOL5, ISSUE 4; JAN-MAR, FY 2016-17 propindex.magicbricks.com GHAZIABAD33

Property distribution by capital value (Rs/Sq ft)Oct-Dec 2015 to Jan-Mar 2016

The graphs shows the distribution of actively traded properties by their capital values. It shows that properties in the market are concentrated in a narrow budget range

With 67% properties in the Rs 3,000–5,000 per sq ft bracket, Ghaziabad, along with Noida, forms the second relatively ‘affordable’ destination for consumers looking for buying residences in the National Capital Region (NCR). The higher budget segment of Rs 5,000-7,000 per sq ft bracket forms a smaller 15% share of the secondary market

The geographical spread of the budget segments show that most of the supply and consumer preference is concentrated in the west zone. It has more than 60% share of supply in the secondary market and consumer preference in Ghaziabad

Localities in the western zone like Indirapuram, Vaishali, Kaushambi and Vasundhara are all high consumer

The map shows the geographical spread of localities considered for calculating the City PriceIindex. The localities have been grouped to know the zone wise price trends in the city

Localities in Ghaziabad drive demand basis their contiguity and connectivity with Delhi

Localities in the west zone have best connectivity to Delhi and are the preferred addresses. The price gradient decreases as one moves from west to east

The preferred localities in the west zone include Indirapuram, Vaishali, Kaushambi and Vasundhara which are contiguous with each other and some also share a border with Delhi

Those looking for relatively less expensive options can choose from Raj Nagar Extension in the north zone and Crossings Republik in the south zone. While new development activity in Crossings Republik is more or less complete, Raj Nagar Extension is witnessing considerable new development

Geographical distribution of localitiesWestern localities preferred for connectivity with Delhi


The City Index for Ghaziabad reflects the price movement across 46 prominent localities. These localities have been chosen using the twin criterion of share in the overall consumer preference in Ghaziabad as well as share of actively traded properties. The weight assigned

to each locality is its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index saw a 1% rise over the last quarter. The Jan-Mar 2016 quarter had more localities with price decline than rise. At least 63% localities saw an average decline of 3%, pushing down the Oct-Dec 2015 value by 1%. The balance 37% localities saw an average price rise of 2%, pushing up the Oct-Dec 2015 Index by 2%, leading to net rise of 1% in the City Index for Jan-Mar 2015 quarter

preference localities. They provide good connectivity and accessibility to Delhi. Consumers can commute to Delhi for work or business and this makes the localites preferred destinations

The price range in the west zone varies within the Rs 3,000-7,000 per sq ft range. Though the dominant segment (45% share) is Rs 4,000-5,000 per sq ft followed by the Rs 5,000-6,000 per sq ft

Crossings Republik in the south zone is an important high preference locality, catering to demand in the Rs 3,000-4,000 per sq ft price segment. The whole locality consists of new projects which have been completed recently

Raj Nagar Extension in the north zone is another upcoming destination which serves consumer preference in the Rs 3,000-4,000 per sq ft price segment. It is witnessing large scale development activity to service demand in the budget segment




To understand the contribution of various budget segments and localities in the Index movement, we have grouped 46 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price change across different geographies and their constituent budget segments

The last quarter has been dismal for the realty sectors in the city. Of the five major budget segments, the price level in four segments saw a decline. Only one budget segment saw a marginal price increment

The dominant budget segments of Rs 4,000-5,000 per sq ft saw a 2% decline; only Rs 5,000-6,000 per sq ft price segment had marginal increment of 1%. Other segments saw a decline of 1% to 4%


East This zone consists of properties in the

entry level (<Rs 3,000 per sq ft) budget segment

In-line with the overall price trend, the zone saw a price decline of 1%. This was slightly less than the market average decline of 2%

North Raj Nagar Extension is an important high

consumer preference locality in this zone

The north zone caters to consumer preference for relatively less expensive options in the Rs 3,000-4,000 per sq ft price bracket

The zone saw a 1% price decline which was the same as the market average for this segment

West The west zone holds most of the city’s

supply in the Rs 4,000-7,000 per sq ft budget segment. Price trend in this zone decided the overall city price movement average



The city average price change in the Rs 4,000-5,000 per sq ft and the Rs 6,000-7,000 per sq ft segments was decided by price change (2% and 4% decline, respectively) in these budget segments in the west zone

In the Rs 3,000-4,000 per sq ft price segment, the locality average was 1% increment as against the city average decline of 1%

South Localities in the south zone are second

most preferred destinations in Ghaziabad with the bulk of supply in the <Rs 3,000 per sq ft and the Rs 3,000-4,000 per sq ft price ranges

Crossings Republik with its news construction is the most preferred locality in this zone and at city the level

In both these segments, the price drop in the zone was higher than the city average

Price change-Top localities by consumer preferenceOct-Dec 2015 to Jan-Mar 2016



Price change basis construction statusTop localities by consumer preference in Jan-Mar 2016 period

The graph shows the trend in prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis of 46 localities showed that on an average, UC properties were 5% more expensive than RM properties in the Jan-Mar 2016 period

A reversal in prices of RM and UC properties was seen. Till last quarter, RM properties were more expensive by a small margin. The average difference

in prices reversed by 600 basis points as compared to the Oct-Dec 2015 quarter. While the weighted average price of RM properties was Rs 4,222 per sq ft, the same number for UC properties was Rs 4,441 per sq ft

The average price of RM and UC properties declined and rose by 4% and 2% over the last quarter, respectively

UC properties posted a price drop of 2% over the Sep 2013 to Mar 2016 period,

while prices of RM properties declined by 9% in the same period. While price movement in case of RM properties worsened due to price decline in the last quarter, UC properties improved due to increment over the previous quarter

As the graph below shows price trend in the top 10 localities of Ghaziabad by consumer preference. It shows that more localities have seen price increment in case of UC properties



Ahinsa Khand 1 4340 to 8300 -4.6% 10800 to 20400 2.47%Ahinsa Khand 2 3790 to 6890 4.0% 8400 to 18000 2.66%Bhopura 2130 to 4160 0.1% 6000 to 9600 2.59%Crossings Republik 2610 to 4350 -0.2% 6000 to 12000 2.64%Garhi 2400 to 3610 -3.5% 6000 to 9600 2.76%Govindpuram 2000 to 3720 0.9% 8400 to 9600 3.86%Gyan Khand 1 3270 to 5410 0.3% 9600 to 19200 3.39%Gyan Khand 2 3210 to 5710 -2.2% 12000 to 19200 3.71%Indirapuram 2660 to 7250 2.3% 9600 to 20400 3.08%Judges Enclave 3750 to 6560 -0.8% 9600 to 16800 2.65%Kaushambi 2000 to 7920 -3.4% 10800 to 21600 3.63%Mohan Nagar 3980 to 5830 2.3% 8400 to 14400 2.45%Neeti Khand 1 3230 to 5540 -3.5% 9600 to 21600 3.73%Neeti Khand 2 3220 to 5660 -3.7% 9600 to 21600 3.60%Nyay Khand 1 3180 to 5100 -2.4% 10800 to 20400 3.81%Orange County 5580 to 6960 -3.2% 13200 to 19200 2.67%Raj Nagar Extension 2340 to 3760 -1.1% 6000 to 12000 2.95%Ramprastha Greens 5470 to 7350 -2.8% 10800 to 20400 2.48%Sahibabad 2470 to 6180 -3.4% 8400 to 14400 2.78%Sain Vihar 2820 to 3950 -1.2% 6000 to 12000 2.61%Shakti Khand 2 3240 to 5240 -4.4% 9600 to 18000 3.44%Shakti Khand 3 3310 to 5400 -3.0% 12000 to 20400 3.72%Shakti Khand 4 3660 to 5570 -3.3% 9600 to 16800 2.96%Shalimar Garden Extension 1 2630 to 4820 3.5% 8400 to 15600 3.44%Vaibhav Khand 3870 to 6740 -2.4% 9600 to 21600 2.92%Vaishali Sector 1 3190 to 7270 1.5% 9600 to 22800 3.28%Vaishali Sector 2 3320 to 5360 -0.6% 10800 to 21600 3.89%Vaishali Sector 3 3000 to 7100 3.6% 12000 to 26400 3.71%Vaishali Sector 4 3320 to 7660 -3.8% 12000 to 20400 3.19%Vaishali Sector 5 3330 to 6420 1.2% 12000 to 20400 3.49%Vaishali Sector 6 3260 to 5050 -3.3% 10800 to 19200 3.83%Vasundhara Sector 1 2820 to 4810 -3.9% 8400 to 15600 3.49%Vasundhara Sector 3 2660 to 5190 -3.4% 8400 to 16800 3.38%Vasundhara Sector 5 2940 to 6450 -3.1% 10800 to 14400 2.73%


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PROPINDEX TEAMl Content & Research:

E Jayashree Kurup, Subodh Kumar, Rohit Vats, Devendra Lohmor, Bhawna Mongia, Namrata Ekka, Renu Arya, Sneha Sharon Mammen, Puneet Kukreja & Bikash Kumar

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D I S C L A I M E R

Every effort has been made to make this Index as complete and as accurate as possible. MagicBricks accepts no responsibility for inaccuracies in the information/data contained in this book. It shall have neither liability nor responsibility to any person or entity with respect to any loss or damage

caused, or alleged to have been caused, directly or indirectly, by the information contained in this book. The information/data in this book is subject to change from time to time due to market condition.

Documents

FOREWARD - MagicBricksproperty.magicbricks.com/.../delhi-ncr-jan-march16.pdf · 2018-04-22 · Delhi was faced with a tough market with 20% decline. The only other cities with double