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This has been one of the more interesting quarters in the residential realestate market. Data indicates that markets are looking for a sense ofdirection. Weak sentiment because of economic factors as well as theupcoming elections has dampened investor enthusiasm. However, this is thefirst time that the end user has shed inhibitions and got into the driver’s seatin the residential property market. Read this quarter’s PropIndex analysisalong with the Housing Sentiment Index (HSI). The HSI has been jointlyreleased by Magicbricks and Indian Institute of Management, Bangalore. Thefirst of its kind in the market, the HSI tracks property buyer sentiment acrossthe country by way of detailed questionnaires. It clearly indicates that whilethe consumer is willing to wait in anticipation of better prices, he is also quitewilling to search for the best deals over the next six months.
The number of enquiries indicate strong underlying demand. However, withinvestors shying away due to a slow market, the end user is using this windowof six to eight months to explore the markets at length, search for a propertyof their choice and then negotiate to get a good deal. Both developers andlandlords seem more willing to negotiate in an effort to keep up the salesvelocity. In a market driven by end users, consumer preferences come intosharper focus. Apartments emerged as the winner with all cities showingrobust demand. Smaller units of 1, 2 and 3BHK were preferred over premium,large apartments. However, demand for premium apartments was driven by asmall group of buyers who showed that sentiments had nothing to do withthis volume of demand. This being a lucrative category, developers seemed toprefer to build more in this category, thereby creating abundant supply.
The industry would benefit by using statistics to understand consumersentiment, and be able to navigate basis the direction that markets are likelyto take. The volume of stock in every market, if positioned correctly, can beused to bring back the end user. Unlike 2010, when developers had little to woothe anxious consumer with, this time round, they have plenty of stock and anegotiating power to turn the markets around. The question is, can they takeleadership and make Real Estate the sector to kickstart a sagging economy?
We hope you benefit from this edition of PropIndex. A complimentary copy ofHSI is also included with this report. We would look forward to your feedback– please write in to us at [email protected]. Happy Diwali and bestwishes for the festival season.
FOREWORD
Sudhir PaiBusiness Head, [email protected]
Magicbricks PropIndex
Magicbricks PropIndexis a tool whichempowers propertyseekers and investorswith detailedinformation on themovement of residentialapartment prices andsupply of properties inIndia. No credibleproperty index can be afunction of direct valuesas the changes aregoverned by multiplefactors.
Magicbricks PropIndexhas taken this realityinto account andproduced an index basedon listing of apartmentsand their capital andrental values on thewebsite.
Magicbricks has over 500,000 active propertiesposted by more than1,50,000 active users in300 cities and 10,000localities. Our usersinclude owners, agentsand developers.
Methodology
Apartment values arebased on listings onMagicbricks. Theseinclude multistoreyapartments and singleunits on plotteddevelopments, referredto as builder floors onMagicbricks.com.
The Index is structuredin such a way thatindividual properties
are aggregated into theirrespective cities andthen to the NationalIndex. Weightages forPropIndex are based onthe supply of propertieswithin the locality/city.Based on this structure,PropIndex gives arealistic picture oftrends in price/supplyacross different propertymarkets in each city. Wehave used differentweightages for ListedPrice Monitor/RentMonitor. Therefore, readas a whole, PropIndexalong with tablesprovided for Listed PriceMonitor, Rent Monitor,Yield Monitor andCapital Values, gives anexcellent perspective ofthe property marketperformance in thequarter.
While listing and itsvalues/supply provide alevel of understandingof the market, there aremeticulous data checksto prevent aberrationscreeping in the Index.These are based onstatistical calculations,industry inputs andlogical interpretations.
The National PropertyIndex (NPI) is indicativeof the extent of activityas well as pricemovements across citiesand localities in themajor cities active onMagicbricks.com. Theindex includes the top12 cities (these have
been chosen based ontheir activity levels) andhas an individual cityreport for each of thesecities. While the NPI andits movements are ofinterest to the expertcommunity of bankers,builders and investors,the PropIndex has alsotaken care to explain thenuances of indexmovements at thelocality level that wouldhelp the huge base ofMagicbricks.comconsumers.
Insights into consumerdemand have beengathered throughanalysis of searchinformation on the site.This helps understandthe best localities bydemand, the type andconfiguration of units aswell as the budget-wisepreferences.
The PropIndex is theresult of meticulousresearch at the localitylevel and throughdetailed discussionswith experts atMagicbricks.com’soffline and onlineinitiatives.
The Indian real estatemarket is dynamic andthe PropIndex reflectsthose changes. Since it isderived from a dynamicdatabase, additions anddeletions of localitieshappen as a function ofmarket dynamics.
METHODOLOGY
There is a wealth of information within these pages. For better readability, we have presented some data as tablesand others as graphs. Between them, you will find how property markets have performed in the Jul-Sep 2013quarter from different perspectives – from that of capital appreciation, from a rental/yield realisationperspective and from a supply standpoint. Also, Demand Analysis section, explains what consumers look for.
We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of theperformance of the property market within each city. Here are the details of what you will find in each of the cityreports enclosed within:
1. City Property Index – This is a composite index which is a function of supply of properties as well as theaverage capital appreciation/drop in various localities of the city in the quarter. The city index is theweighted average of the average rate per square foot in that locality and the supply of properties from thatlocality. Premium localities (with higher average rate per square foot) as well as localities with higher supplyof properties will have a bigger impact on the Index. For example, if the supply of properties from apremium locality drops, that locality will end up having a lower weightage in the index which in turn willpush the Index downwards (and vice-versa). On the other hand, supply of properties remaining unchanged,the Index will be influenced by capital appreciation within the locality.
2. Listed Price Monitor – This metric shows the capital appreciation/drop within a locality and is calculatedon the basis of movement in the “average rate per square foot” within that locality. By and large, themovement in the “average rate per square foot” reflects capital appreciation/drop. However, in a few selectcases, we have observed that the average rate per square foot moves due to a change in the mix of apartmentswithin that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rate,changes over the quarter). In these few circumstances, the Listed Price Monitor will, in turn, reflect thisinput. Such changes have been explained in the text of the City Reports.
3. Rent Monitor – This reflects the rental appreciation/drop within a locality. It is calculated on the basis ofmovement in the “average rent per square foot” within that locality. By and large, the movement in the“average rent per square foot” reflects rental appreciation/drop. However, in a few select cases, we haveobserved that the average rent per square foot moves due to a change in the mix of apartments within thatlocality (e.g. if the ratio of premium apartments, which command a higher per square foot rent, changes overthe quarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Such changes havebeen explained in the text of the City Reports.
4. Yield Meter – Yield is the annual rate of return earned on property. The Yield Meter depicts the gross yieldpercentages across various localities. Gross yield is a ratio of average annual rental value to the averagecapital value of the property.
5. Capital Value Tables (given in Annexures) – This shows the actual range of prices within which propertieswere available in each locality in the quarter. Prices are shown in Rupees per square foot basis, these are theprevailing rates for properties in each locality.
6. Demand Analysis – This analysis of consumer demand is based on searches and requirements that usershave performed on Magicbricks.com. The top localities by demand gives an insight into consumerpeferences. The demand data has been used to arrive at various aspects of consumer requirements includingBudget-wise analysis, Property type analysis and BHK configuration analysis. This section also provides acomparison between demand and supply in the Apr-Jun 2013 and Jul-Sep 2013 quarters.
7. Realty News – Property market performance is also dependent on drivers outside the purview of buyingand selling. There are broadly four key drivers that determine the prospects of real estate – infrastructuresuch as water and power, transport links creating new growth corridors, policy such as rental laws, propertytax, etc and return on investment. PropIndex also focuses on news bytes that impact future prospects of real estate in the city.
GLOSSARY & DEFINITIONS
JUL-SEP 2013
National Property Index is aweighted average of supply andvalues across 12 cities in India. Inthe latest quarter (Jul-Sep 2013)the NPI witnessed a rise of 4 per cent. Of the 12 cities in theapartment index, majority of thecites have seen a rise, on the backof steadily increasing supplyacross cities.
Bangalore was the biggest gainerwith a rise of 17 per cent. It wasfollowed by Kolkata with 9 per cent, Mumbai, Delhi, Puneand Vadodara witnessed 4 per cent rise each, Ghaziabad,Ahmedabad and Hyderabad with 3 per cent and Gurgaon with 2 per cent. Noida registered a dropof 1 per cent.
On the other hand, Listed PriceMonitor, which largely shows thecapital appreciation/drop withina locality ranges between minus 4 per cent to plus 7 per cent.Average property prices remainedupbeat in Bangalore withmaximum rise of 7 per cent,
followed by Hyderabad at 5 per cent. Mumbai and Delhiregistered the maximum drop of 4 and 3 per cent, respectively.
In spite of slow propertytransaction rate, marketcontinues to witness adequateenquiries from property buyers,indicating buyers are scouting forgood deals in the market. Atpresent, buyers are cautious dueto the sluggish economic growthand the looming political electionsin the country.
Despite all uncertainties andweak sentiments in the market,property worth between Rs 30-50lakh continues to top buyerpreference nationally. Citieswhich buck the trend are Kolkata,Gurgaon and Mumbai. InGurgaon and Mumbai, propertiesworth Rs 1-2 crore witnessedhigher demand, except in Thaneand Navi Mumbai. In Kolkataproperty worth upto Rs 20 lakh tops demand.
Read this issue along with theHousing Sentiment Index which is
an analysis of consumer housingsentiments based on surveyacross eight cities.
While PropIndex analyses realestate market performance of theprevious quarter, HSI would offerinsights into potential futuremarket performance.
n Property buyers remainedcautious due to sluggisheconomic growth andlooming elections
n About 40 per cent demandwas for multi-storeyapartments across cities
n Majority of buyerspreferred property worth Rs 30-50 lakh.
n About 30 per cent supplywas of 800-1200 sq ftapartments
IN THIS REPORT:
National Property Index...............1
Delhi.........................................4
Gurgaon...................................11
Noida & Ghaziabad................... 18
Mumbai....................................29
Pune........................................36
Ahmedabad..............................43
Kolkata...........,........................ 48
Chennai....................................55
Hyderabad................................62
Bangalore.................................69
Vadodara..................................76
Annexures.................................81
NATIONAL PROPERTY INDEX (NPI)
VOL 3, ISSUE 2; JUL-SEP, FY 2013-14
JUL-SEP 2013
propindex.magicbricks.com
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NATIONAL PROPERTY INDEX
l Multi-storey apartmentscontinued to witness activedemand. Close to 40 per centdemand was for multi-storeyapartments across India withmaximum in Mumbai at 94 per cent.
l RBI’s recent measures tounwind liquidity tighteningmeasures have been wellreceived by the market.However, the effect on homeloan rates has been negligible.
l The government’sconsideration to ease ForeignDirect Investment (FDI) normsin the real estate sector mayhelp in attracting cash flows,easing out the presentbeleaguered scenario.
Ahmedabad City Index rose by 3 per cent in the Jul-Sep 2013quarter, as compared to a rise of 4 per cent in the previous quarter.Residential developmentscontinue to see regular demand inlocalities along the two majorgrowth corridors - SG Highwayand SP Ring Road.
Delhi City Index rose by 4 percent during the Jul-Sep 2013quarter as compared to a drop of 3 per cent in the previous quarterindicating a slow but stable
market in the last six months. Onthe other hand, Listed PriceMonitor dropped 3 per cent on theback of marginal drop in averagecapital values in 74 per centlocalities in the city. However,localities close to Noida such as IPExtn, Vasundhara, Mayur Viharand Patparganj in East Delhi andselect pockets in Dwarka, owingto connectivity to Gurgaon, haveseen consistent rise in values inthe past few quarters.
The Gurgaon City Index rose by 2 per cent in the Jul-Sep 2013quarter as compared to a rise of 4 per cent in the previous quarter,indicating a slow movement in theproperty market. The Listed PriceMonitor too, remained stablewhile it rose by 2 per cent in theApr-Jun 2013 quarter. It has beenobserved that apartment prices inselect pockets remained up,despite a slow transaction rate.
After witnessing an increase of 3 per cent in Apr-Jun 2013, theNoida city index dropped by 1 per cent, while the PriceMonitor remained unchanged.Almost equal number of localitiesregistered rise and drop inaverage capital values. This keptthe price monitor unchanged. Inthe present quarter, demand andsupply in Noida was inclinedtowards properties priced
between Rs 60 lakh and Rs 1 crore.
The Ghaziabad residentialmarket registered a rise of 3 per cent in the City Index as wellas in the Listed Price Monitor.The highest demand and supplywas noted for properties pricedbetween Rs 40-70 lakh,particularly in localities such asIndirapuram, Vaishali andCrossings Republik. Availabilityof ready-to-move-in options ismainly fuelling demand in theseareas.
The Mumbai City Index went upby 4 per cent during the periodJul-Sep 2013 as compared to a riseof 1 per cent in the previousquarter. This is mainly on accountof increase of supply in the city.The Listed Price Monitor dropped
Locality RankQ2 Q1
Mumbai 1 1
Bangalore 2 2
Pune 3 3
New Delhi 4 4
Kolkata 5 6
Chennai 6 7
Gurgaon 7 8
Hyderabad 8 5
Noida 9 9
Ghaziabad 10 10
Preferred Localities - Sale
Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
Preferred Localities - Rent
Locality RankQ2 Q1
Mumbai 1 1
Bangalore 2 2
New Delhi 3 4
Pune 4 3
Chennai 5 5
Gurgaon 6 7
Hyderabad 7 6
Kolkata 8 8
Noida 9 9
Ahmedabad 10 10Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
03VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
by 4 per cent. Drop in averageproperty prices in premium areassuch as Worli, Prabhadevi,Santacruz West and Khar West ledto a drop in the listed pricemonitor.
The Pune residential marketcontinues to remain upbeatquarter over quarter. The CityIndex went up by 4 per cent andPrice Monitor by 2 per cent during the period Jul-Sep 2013. Residentialdevelopment along the ITcorridors in the Eastern andWestern parts of Pune continuedto be preferred destinations forboth outright sale as well as lease.
The Kolkata City Index rose by 9 per cent during the Jul-Sep 2013quarter. Increase in capital valuesin more than 64 per cent localitiescombined with a growth in supplyin almost 50 per cent of thelocalities pushed the city index upby 9 per cent. Drop in capitalvalues in premium areas such asJodhpur Park and SouthernAvenue arrested the growth of theListed Price Monitor.
The Chennai City Index rose by 3 per cent during the Jul-Sep 2013quarter indicating a positivemarket. Almost 60 per cent of thetotal localities tracked recorded arise in average capital values, toregister an increase of 3 per centin the Listed Price Monitor.Presence of IT/ITeS companies in
the neighbouring areas kept up theproperty prices in both outrightsale and lease in South Chennai.No sign of price correction waswitnessed in the residentialmarket in the last three months,despite the slow transaction rate.
The Hyderabad City Index rose by3 per cent in Jul-Sep 2013. Rise inproperty values in 77 per cent oflocalities pushed the Listed PriceMonitor up. Owing to theTelengana issue, property priceswere 30-40 per cent cheaper ascompared to any other metrodespite the well-supportedinfrastructure development.
The Bangalore City Index rose by17 per cent in the Jul-Sep 2013quarter, as compared to the previous quarter, which reported a6 per cent drop. With a majornumber of localities reporting anincrease in property values, theoverall Listed Price Monitorregistered a 7 per cent rise in thequarter. Of the total demand, 25 per cent was for properties inthe Rs 40-60 lakh range. A positivesentiment in the IT sectortranslated into rising propertyvalues in Bangalore.
The City Index for Vadodara roseby 4 per cent during the Jul- Sep2013 quarter primarily on the backof healthy supply in the city.However, property prices haveremained stable in the last sixmonths with small fluctuations.
Upto Rs 20 Lakh Rs 20-30 Lakh Rs 30-50 Lakh Rs 50-70 Lakh Rs 70-100 Lakh Rs 1-2 Crore Rs 2 Crore & Above
National - Consumer Budget Preference
30%
25%
20%
15%
10%
5%
0%
14%16%
23%
15%13%
12%
7%
TOP Y IELD GROSSERS
Gross yield is a ratio of average annualrental value to the average capital valueof the property. Given below are the topyield-grossing localities in each city.
Locality Gross yield
Bangalore, Marathahalli 4.94%
Kolkata, Rajarhat 4.61%
Hyderabad, Madinaguda 4.36%
Chennai, Urapakkam 4.21%
Ahmedabad, Vejalpur 3.91%
Mumbai, Parel 3.81%
Noida, Sector-92 3.74%
Pune, Viman Nagar 3.09%
Ghaziabad, Indirapuram 2.90%
Gurgaon, MG Road 2.52%
Delhi, Malviya Nagar 2.36%
CAPITAL GAINS
The table given below indicatesmaximum increase in capital values ineach city.
Locality % Change
Bangalore, Hormavu 10.08%
Kolkata, Behala 8.96%
Pune, Hadapsar 8.89%
Hyderabad, Banjara Hills 8.86%
Ahmedabad, Chandkheda 7.37%
Gurgaon, Sector-92 7.10%
Ghaziabad, Lal Kuan 6.93%
Chennai, Valasaravakkam 6.81%
Mumbai, Borivali West 6.53%
Delhi, Indraprastha Extn 5.54%
Noida, Sector-100 5.22%
NOIDA-GHAZIABAD 18VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
PROPINDEX - NOIDA-GHAZIABADThe Noida market posted negativetrends for the first time in recentquarters. A large amount of supplythat is reaching possession stagesmay well have been responsible forthis. Proximity to the metro has beencritical in driving demand. As a result,Sectors 74-78 have been gainingbecause of new stock and easyaccess to the metro.
On the other hand, delayed hand-overof new property pushed up rentaldemand in the city. The good news isthat there is a sizeable end-userdemand which will occupy thoseproperties that come into thepossession stage. Developers whoconcentrate on completing anddelivering will benefit from the firstmover advantage.
In any market driven by end users, itis imperative that developers listen toconsumer demand. There is amismatch in the demand and supply.Users are largely seeking 2BHK unitsin the Rs 60 lakh to Rs 1 crore rangewhile developers are producing more3BHK units.
This has benefitted Ghaziabad andIndirapuram where ready-to-move-inunits in the required budgets andconfigurations are available. With easyaccess to Noida localities, these havecome into demand. The Rs 40-60lakh ranges in 2BHK configurationsare in demand.
In Noida, delivery of projects seems tobe the key. Rental demand bringscheer to Noida property markets. ITprofessionals have driven demand inlocalities close to IT hubs. Rising theccupancy is another trigger for risingrental values, especially in newlydeveloping sectors. Those that go intopossession and therefore, occupancyhave a chance of posting best returns.
In the Ghaziabad market, affordability,accessibility and proximity tocommercial sectors have drivenpositive sentiments. Vasundhara rosein rental demand, posting 5 per centrise as it is Rs 3,000-5,000 lowerthan rental values in Indirapuram andVaishali. Ready-to-move-in propertiesposted the highest demand acrossGhaziabad. Users have also given athumbs up to the commercial plusresidential format rather than the pureplay commercial format in Noida.Budget properties along NH 24. 58and Crossings Republik have been thehighlight in Ghaziabad.
During the Jul-Sep 2013 quarter the City Index of Noidadropped by 1 per cent while the Price Monitor remainedunchanged. Ghaziabad, on the other hand, registered a rise of 3 per cent in the City Index as well as in the Price Monitor. TheNational Property Index (NPI) rose by 4 per cent.
l The economic slowdown had anegative impact on the capitalvalues in Noida, particularly insectors with properties underconstruction.
l An oversupply of these projectsin Sectors such as 61, 70, 128 and135 resulted in capital valuesfalling by 3-4 per cent during theJul-Sep 2013 quarter.
l Lower capital values, moregreenery and open spaces,proximity to developed Sectors50 and 51 and closeness to metrostations shifted buyer demandfrom the Expressway to NewDeveloping Sectors 74, 76 and 78.
l Rental market was more robust.Lack of ready-to-move-inproperties due to delayedpossession pushed up rentalvalues across Noida.
l Demand from IT professionalsand limited supply has resultedin surging rental values across sectors in the presentquarter.
l Sectors such as 62, 82, 92, 93A,and 119 recorded a rise of 4-10per cent in rental values duringthe Jul-Sep 2013 quarter.
l Demand and supply in Noidawas inclined towards propertiespriced between Rs 60 lakh andRs 1 crore and above.
l While buyers largely seek 2BHKhomes, with nearly 50 per centdemand, supply in the market isskewed towards 3BHK units.This has resulted in an over-supply of 3BHK units in themarket.
l Localities such as Indirapuramand Vaishali continue to be themost preferred residentiallocations in Ghaziabad.
l More and more home buyers areopting for Ghaziabad as theirchoice of residence due to theeasy availability of ready-to-move-in properties.
l Comparatively affordable capitaland rental values, goodconnectivity and improvedinfrastructure have auguredwell for the residential market ofGhaziabad.
l Demand and supply was thehighest for properties worth Rs 40-70 lakh while 2BHK unitswere the most preferredconfiguration.
Key Takeaways
E d i t o r i a l
NOIDA-GHAZIABAD19VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
l Similar to the Apr-Jun 2013 quarter, the priceMonitor remained unchanged during the Jul-Sep 2013 quarter as well, indicating subduedactivity in the market.
l The Noida market revealed mixed trends withnearly 50 per cent of the localities tracked recordinga dip in capital values while the remaining recordeda rise or remained stable.
l Sectors 34 and 100 recorded the highest rise of morethan 5 per cent in capital values in the last threemonths. High demand, good connectivity to Delhi,well developed infrastructure and delivery of aproject by a renowned developer has pushed theaverage capital values in Sector 100.
LISTED PRICE MONITOR - Noida
Locality Average Rental Average Capital Gross
Value (Rs/sqft/mth) Value (Rs/sqft) Yield
Sector-50 18 8,050 2.68%
Sector-82 13 6,025 2.54%
Sector-62 16 6,275 3.06%
Sector-93 17 7,450 2.70%
Sector-93B 17 7,350 2.73%
Sector-29 15 7,700 2.38%
Sector-119 11 4,850 2.78%
Sector-44 21 12,500 1.99%
Sector-34 18 7,600 2.84%
Sector-92 25 7,950 3.74%
YIELD METER - Noida
l During the Jul-Sep 2013 quarter, theMagicbricks.ocm yield meter recorded returns inthe range of 1.99 - 3.74 per cent as against therange of 1.94 - 3.44 per cent in the previous quarter(Apr-Jun 2013).
l Similar to the previous quarter, Sector 92continued to clock the highest gross yield, being
way ahead of its closest competitor (Sector 62)which recorded a yield of 3.06 per cent.
l Sectors such as 61, 62, 82 and 93, which were alsoamong the top ten preferred rental locations,recorded a healthy rental yield ranging from 2.55 - 3.06 per cent in the current quarter ascompared to the previous quarter.
RENT MONITOR - Noida
l Rental market in Noida remained buoyant duringthe present quarter with nearly 60 per cent of thelocalities tracked recording a rise in rental values.
l Demand from professionals working in sectorsdominated by IT hubs and commercial settlementscontinued to feed the rental markets of nearbyresidential localities.
l Increasing demand from professionals working incommercial Sectors 129 and 136 near Sector 92 andSectors 57, 58, 59, 63 and 64 near Sector 62 has pushedrental values.
l Sector 119 registered the second highest rise inrental values during Jul-Sep 2013 due to increasedoccupancy.
7%
NOIDA-GHAZIABAD 20VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
RENT
Locality Rental RankValues Q2 Q1
Sector-62 14500 to 18500 1 1
Sector-50 16500 to 20500 2 2
Sector-82 11500 to 14500 3 3
Sector-61 16000 to 19500 4 4
Sector-93 15000 to 19500 5 5
Sector-37 15000 to 18000 6 6
Sector-120 11000 to 13000 7 -
Sector-19 12000 to 16500 8 7
Sector-15 14000 to 16500 9 9
Sector-44 18500 to 25000 10 8
Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
Locality Capital RankValues Q2 Q1
Sector-50 7500 to 9000 1 1
Sector-78 4850 to 5500 2 3
Sector-137 4650 to 5250 3 2
Sector-120 4800 to 5600 4 10
Sector-76 4750 to 5150 5 5
Sector-100 5650 to 6800 6 4
Sector-62 5800 to 7100 7 6
Sector-61 6750 to 7950 8 8
Sector-74 4600 to 5150 9 7
Sector-82 5750 to 6550 10 -
SALE
Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
PREFERRED LOCALITIES - NOIDA
l Sector 50 continued to be the most preferredresidential location for outright sale. The localitymaintained the top spot since Jan-Mar 2013.
l Being one of the earliest sectors to develop, it offersall amenities within easy reach. Metro connectivityhas catapulted the popularity of the location.
l Buyer interest seems to be shifting towards the NewDeveloping Sectors such as 74, 76 and 78 due torising capital values and depleting inventory of newprojects along the Expressway.
l Sector 120 climbed six positions on the list of mostpreferred localities, to settle at number four in thecurrent quarter as compared to the previous one.This is primarily attributed to the presence ofprojects nearing the possession stage, which in turnhas attracted end users.
l While sectors along the Noida Expressway such as100 and 137 dropped a point and two respectively onthe list of preferred localities, Sector 82 was a newentrant as compared to the Apr-Jun 2013 quarter.
l As in the previous quarter, the older sectorsremained the preferred locations for rentalaccommodation during the Jul-Sep 2013 as well.
l These preferred sectors included 37, 50, 61 and 62 among others with Sector 62 being the mostpreferred. These sectors are largely preferred due totheir proximity to IT hubs and commercial sectors.
l Since these are some of the most developed andoldest sectors, all basic facilities are easily available.
l Sector 62 has retained its top position as the mostpreferred rental destination in Noida since the Jan-Mar 2013 quarter.
l Sector 120 is a new entrant in the list of top tenpreferred locations for rental accommodation. It ispreferred as it is the nearest residential location tothe commercial hub of Sector 63.
l Sectors along the Expressway that were preferredfor rental accommodation included Sectors 44, 82and 93.
l Demand outstrips supply in theNew Developing Sectors with asmall margin.
l On other hand, supply outstripsdemand in sectors along the Noida-Demand outrips by significantmargin.
l Demand remined high in sectorsunder Old Noida with 20 per cent oftotal residential demand in the city.Supply fell short by a small marginof 5-6 per cent.
Above 50% 40-50% 20-30% 10-20% Less than 5%
NOIDA-GHAZIABAD21VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
l The Listed Price Monitor for Ghaziabad rose by 3 per cent during the current quarter. More than 65 per cent of the localities tracked, recorded a risewhich was reflected in the Listed Price Monitor.
l Connectivity, affordability and proximity tocommercial sectors of Noida ensured steady capitalappreciation in Indirapuram during the Jul-Sep 2013quarter. The locality clocked a rise of nearly 7 per cent during the period, the highest amongst thelocalities tracked in Ghaziabad.
l Localities that witnessed a drop in capital valuesduring the Jul-Sep 2013 quarter included Govindpuriand Mohan Nagar with prices falling by 5 and 3 per cen,t respectively.
LISTED PRICE MONITOR - Ghaziabad
Locality Average Rental Average Capital Gross
Value (Rs/sqft/mth) Value (Rs/sqft) Yield
Indirapuram 12.5 5,175 2.90%
Vaishali 12.75 5,300 2.89%
Vasundhara 10.5 5,000 2.52%
Crossings Republik 6.5 3,550 2.20%
Kaushambi 12.5 5,675 2.64%
Y I E L D M E T E R - G h a z i a b a d
l During the Jul-Sep 2013 quarter the yield meter byMagicbricks recorded returns in the range of 2.20-2.90 per cent in Ghazibad as compared to the range of2.24-3.09 per cent in the last quarter.
l Indirapuram continued to clock the highest rentalreturns on the back of steady rental demand from theworking force in the commercial sectors of Noida.
RENT MONITOR - Ghaziabad
l Amongst the localities tracked, Vasundhararecorded the highest rise in rental values during theJul-Sep 2013 quarter with a rise of 5 per cent fromthe Apr-Jun 2013 quarter.
l There is a difference of at least Rs 3,000-5,000 permonth between the rental values in Vasundhara andIndirapuram and Vaishali. This has shifted therental demand back to Vasundhara pushing up therental values.
l Kaushambi recorded falling rental values recordinga drop of 7 per cent in the current quarter. This waslargely attributed to demand shifting towardsVaishali which offers newer construction at almostsimilar rental values.
3%
l Rental returns in Crossings Republik remainedthe lowest as was seen in the previous quarter.
l Vaishali also recorded a good yield of 2.89 per cent. High rental demand and increasingrental values compared to other localities haveensured a good yield in Indirapuram andVaishali.
l Lower rental values, developing infrastructureand connectivity to both Noida and Delhi havemade Ghaziabad a preferred rental destination.Thus, buyers are increasingly investing in thesub-city for rental returns.
NOIDA-GHAZIABAD 22VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
RENT
Locality Rental RankValues Q2 Q1
Indirapuram 11500 to 14500 1 1
Vaishali 11500 to 15000 2 2
Crossings Republik 6000 to 7500 3 3
Vasundhara 9500 to 12500 4 4
Raj Nagar Extension 7000 to 9000 5 5
Kaushambi 11500 to 14000 6 6
Pratap Vihar 11500 to 14000 7 10
Shalimar Garden Extn-1 8000 to 10000 8 8
Vaishali Extension 12500 to 13000 9 -
Govindpuram 6000 to 8500 10 9
Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
Locality Capital RankValues Q2 Q1
Indirapuram 4750 to 6000 1 1
Vaishali 4850 to 6100 2 2
Crossings Republik 3350 to 3900 3 3
Vasundhara 4650 to 5650 4 5
Raj Nagar Extension 2700 to 3300 5 4
Kaushambi 5250 to 6450 6 6
Govindpuram 2700 to 3300 7 7
Shalimar Garden Extn-1 3400 to 4150 8 8
Pratap Vihar 3500 to 4250 9 9
Sahibabad 3450 to 4550 10 10
SALE
Note: Q2 Jul-Sep 2013, Q1 Apr-Jun 2013
PREFERRED LOCALITIES - GHAZIABAD
l Localities such as Indirapuram, Vaishali andCrossings Republik continued to be the mostpreferred residential locations quarter-on-quarter.
l Localities that offered ready-to-move-in propertieswere high on the priority list of home buyers.
l Indirapuram, which clocked the highest capitalappreciation in the Jul-Sep 2013 quarter, also toppedthe chart of the most preferred localities for sale. It has been the most preferred residential locationsince the Jan-Mar 2013 quarter.
l The second and third most preferred residentiallocations were Vaishali and Crossings Republik, inthat order.
l Indirapuram is riding high due to good connectivityto commercial sectors of Noida, whereas, Vaishaliand Crossings Republik are in demand owing toavailability of ready-to-move-in apartments.
l Comparatively affordable prices are also working infavour of Crossings Republik.
l Indirapuram continued to be the most preferredlocation for rental accommodation fourth time in arow (since the Oct-Dec 2012 quarter).
l Easy accessibility to the IT hubs of Noida hasaugured well for the rental market of Indirapuram.
l Vaishali notched up to the second spot on the list ofmost preferred rental locations. Metro connectivitycontinued to attract rental demand in Vaisahli.
l Due to easy availability of ready-to-move-inproperties, Crossings Republik and Raj NagarExtension were preferred options for rental housing.Nearly 4000 housing units were released into thesemarkets in the present quarter.
l Vaishali, Kaushambi, Vasundhara and areas ofSahibabad, part of the top ten preferred rentallocalities, offer a mix of office and residential space.
l As commercial and residential locations aresegregated in Noida, people are giving a thumbs upto Ghaziabad locations in proximity to Noida.
l Indirapuram accounts forover 40 per cent of totalresidential demand in thecity. Supply remained lowcompared to demand.
l Vaishali was the second mostpreferred residential areawith key connectivity toDelhi.
l Growing demand forproperty witnessed inCrossings Republik and Raj Nagar Extension.
Above 40% 30-40% 10-20% 5-10% Less than 5%
NOIDA-GHAZIABAD23VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
Some parts in Noida posted correction by 10-15 per cent in the Jul-Sep 2013quarter, largely due to low level of investor activity. Due to its upcoming luxuryprojects, the city is gaining recognition as a hub of premium properties in theNational Capital Region (NCR).
Noida set to be a hub of premium propertiesThe real estate market in Noida has performed well in the last few years. With itsunique selling attribute of being affordable as compared to Delhi and Gurgaon, Noidahas been eyed by both investors and end users. Today, with growth in terms of physicaland social infrastructure, Noida is gearing towards becoming a premium residentialmarket with maximum availability of properties valued at Rs 1 crore and above.
n Magicbricks.com Bureau
Noida: Price correction by 10-15% in certain areas Property prices in certain areas of Noida have corrected by 10-15 per cent in the monthof August 2013. In areas such as Sectors 76, 77, 117 and 119 multi-storey apartments,which were selling at Rs 4,500 per sq ft until July 2013, have now been priced between Rs 4,100-4,200 per sq ft.“Some developers have adopted the strategy of cutting prices inorder to raise finances and sell inventory, and it is working,” says Girish Jha, a city-based realtor. On the other hand, Aman Agarwal, director, KV Developers, said: “Therecent price correction is a result of withdrawal of investors from various projects.”
n Magicbricks.com Bureau
“There are around 90 projects underdevelopment in Noida. Of them 20 will be readyfor possession before the year ends. Theseprojects are being offered within the price bandof Rs 4,000-11,000 per sq ft. Sector 119 is
currently the most affordable with the ratehovering around Rs 5,000 per sq ft.”
Mukkaram Ali, Director, Earthcon Constructions Pvt Ltd.
E X P E R T S P E A K - N O I D ADeveloper
Which sectors would benefit from theextension of the metro line?
The metro, an infrastructure project,lays out the development of any area.Smooth movement speeds up theeconomic development of an area.
At what stage of the project are thesales the most?
The sales are not dependent on anyparticular stage. They vary on thebasis of type of project, place,credibility of developer, infrastructure/proposed infrastructure and economicenvironment.
What budget and configuration arehomebuyers in Noida mostly lookingfor? Why?
Noida was a paradise of the middleand the lower-middle class people.That has changed after the F1 trackand announcement of the DedicatedFreight Corridor passing through thearea. This has led to launching ofhigh-end and super luxury projects.
Are there any new residential sectorscoming up in Noida?
The development work in Noida isgoing on from the 1970s. During thistime the entire earmarked land hasbeen exhausted. Currently, thedevelopment is centered in GreaterNoida and the Yamuna Expressway.
What are your expectations from thereal estate market in the future?
The areas around Greater Noida willdrive the glory of Noida in the future.The real estate market will continue tosee upward trends considering theinfrastructure projects (such as theMetro lines) are being proposed.
Manoj Dwivedi,CMD- Shri InfratechCREDAI Member
Q&A
There has been a shift in the buyer’s demandfrom 1BHK units to 2 and 3BHK units sizedbetween 1000 and 1400 sq ft each. Sectors 74-78 are the most promising investmentoptions which may yield an annual appreciation
of 18-20 per cent. The upcoming metro by 2017will further boost the prospects of these areas.
Gurpreet SinghSachdeva, PartnerSachdeva Associates
Broker
Noida is one of the finest master planned citieswith well laid out infrastructure, connectivityand clear development byelaws. It is receivingattention from end users and investors as it is arelatively economical market in comparison to
Delhi and Gurgaon. The new Grade A supply,expected by 2015, will boost demand in the city.
Ajay RakhejaNational Director – NCR,Colliers International
Consultant
R E A L T Y N E W S
To read full story and more news go to www.content.magicbricks.com
NOIDA-GHAZIABAD 24VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
Thrust on infrastructure development by state and city authorities has set themomentum for growth in the city. Localities such as Indirapuram, CrossingsRepublik, Kaushambi, Vaishali and Raj Nagar Extension are among the oneswhich have already started reaping benefits.
Infrastructure developments are pushing Ghaziabad’s realty growthGhaziabad’s master plan has provided for the construction of world-class infrastructurein this area, turning this fast-developing city into one of the most preferred locations inthe Delhi NCR. In recent years, a strategic push in infrastructural development by thegovernment has also pushed realty growth to new levels in Ghaziabad. The state andlocal authorities like Ghaziabad Development Authority, UP Awas Vikas Parishad andthe local municipal corporation have all been developing infrastructure in the city.
n Times Property, The Times of India, Delhi/NCR
Ghaziabad best ‘For ready to move in flats’ Localities in Ghaziabad like Indirapuram, Crossings Republik, Kaushambi, Vaishali,Raj Nagar Extension, Mohan Nagar, Govindpuram, etc, are offering ready-to-move-inoptions, and at affordable prices to boot! In the coming six-eight months, Raj NagarExtension is expected to be ready with nearly 3,000-4,000 apartments in the ready-to-move-in segment. More than 3,000 families are already living in Raj Nagar Extensionand Crossings Republik.
n Times Property, The Times of India, Delhi/NCR
“High demand is witnessed along the NH-24,NH-58 and Crossings Republik. Along thesehighways demand is largely inclined towardsaffordable homes. Buyers are looking for 2BHKin the budget range of Rs 30-40 lakh and 3BHK
in the budget range of Rs 50-60 lakh. Availabilityis also aligned as per this demand.”
Vikas Pundir, CMD, SKB Group
E X P E R T S P E A K - G H A Z I A B A DDeveloper
In the current scenario, how do yousee property prices after six months?
In the last decade, on an average,property values have increased fourtimes. But now there are chances thatthe real estate industry is going to faceproblems such as slowing sales andrising inventories. According to thecurrent market scenario, economy isbound to improve and the rates wouldincrease by 15 per cent in the future.
Has there been an over-supply ofresidential properties in the city? Inwhich category?
There has been an over-supplybecause people from small towns andcities have been the potential buyerssearching for new properties and thus,opening opportunities to thedevelopers.
What budget and configuration arehomebuyers mostly looking for?
Buyers are looking to invest in the Rs 22-35 lakh budget, since most ofthem are service class people whoare comfortable with this range.
What are the new investmentprospects along the NH-58?
Riding on rapidly improvinginfrastructure, connectivity andaffordable prices, the NH-58 is themost attractive investment option dueto the upcoming Rapid Rail, ElevatedRoad, Metro Station, NorthernPeripheral Road and InternationalStadium.
What are your expectations from thereal estate market in the future?
There is demand for 3 million housesevery year, so for the next 10 years,we expect a lot from Ghaziabad.
Pankaj Kumar JainDirector- K World GroupCREDAI Member
Q&A
“At present the market is going through a lulldue to the economic slowdown. Buyers haveadopted a wait and watch mode and thustransactions have dropped. The market isexpected to revive post elections. Areas such as
Raj Nagar Extension and NH-58 are expected towitness demand in the coming months.”
Shaleen SinghDirector, Goldmine Developers Pvt Ltd.
Broker
Ghaziabad has availability of ready-to-move-inproperties in Indirapuram, Crossings Republikand Vaishali. It is good from the end-user pointof view, but, investors have to weigh the optionscarefully to get better returns on investment. It
is the right time to identify 4-5 properties inresale and negotiate hard with the seller.
Sandeep KatiyarChief Executive Officer,Century 21 India
Consultant
R E A L T Y N E W S
To read full story and more news go to www.content.magicbricks.com
NOIDA-GHAZIABAD25VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
Budget wise Analysis - DEMAND
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Rs <20 lakh Rs 20-40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1 crore and above
Q1 Q2
38 40
Q1 Q2 Q1 Q2
14
34
24
Budget wise Analysis - SUPPLY
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Q1 Q2
7
Q1 Q2 Q1 Q275 79
19
22
6
20
30
12
14
3439
9
29
3435
1211
44
98
47
32
44
17
44
31
11
31
30
35
31
9
1316
13 11 27
15
City Level Analysis
l Supply in Noida was largelyskewed towards properties pricedat Rs 60 lakh and above during theJul-Sep 2013 quarter.
l While moderate supply was notedfor properties in the budget rangeof Rs 40-60 lakh, availability ofproperties priced below Rs 40 lakhwas found to be low during the Jul-Sep 2013 quarter.
l Highest buyer interest was notedfor the budget category of Rs 60 lakh to Rs 1 crore, with nearly35 per cent demand. More than 25 per cent demand was forproperties worth Rs 40-60 lakh andmore than Rs 1 crore.
Zone Level Analysis
l Demand for luxury propertiespriced above Rs 1 crore was notedto be the highest in Old Noida, withnearly 45 per cent of buyersshowing an interest in this budgetrange. Old Noida sectors such as 37, 50 and 61 registered highdemand for the same.
l New Developing Sectors waspreferred for properties pricedbetween Rs 40-60 lakh with 40 per cent buyer interest.
l A marginal rise of 1-5 per cent wasnoted in the demand for propertiesworth Rs 20-40 lakh.
l Supply of properties in the Rs 40-60 lakh budget category fellshort of the demand by 2-9 per centacross different zones, withmaximum disparity noted in Old Noida.
l Supply of luxury propertiesdiffered significantly from zone tozone with an over-supply of 2-35per cent recorded across all zones.
l Old Noida saw the maximumsupply of these properties with anincrease of nearly 5 per centduring the present quarter .
50
40
30
20
10
0<20 20-40 40-60 60-100 100 &
above
2
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
2
10 12
26 26
35 34
27 26
(Apr-Jun 2013)
(Jul-Sep 2013)
Budget wise Analysis - City Level
DEMAND
50
40
30
20
10
0<20 20-40 40-60 60-100 100 &
above
5Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
68 9
20 21
32 3235 33
(Apr-Jun 2013)
(Jul-Sep 2013)
SUPPLY
DEMAND - S UPP LY ANALYS I S ( NO IDA )
Budget Wise Analysis
City Level graphs represent demand and supply in differentbudgets in the city in two quarters. Zonal Demand and Supplygraphs decode specific requirements, listings and changingavailability of these units across zones in each quarter.
Buyer demand analysis includes city and zone level analysis of three parameters - Budget, Configuration andProperty Types. Each of these have been analysed from the supply and demand perspective. These give insightinto a city’s real estate profile in the quarter.
6
Rs <20 lakh Rs 20-40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1 crore and above
8
NOIDA-GHAZIABAD 26VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
Property wise Analysis - City Level
100
80
60
40
20
0
84 85
5 510 9
1 1
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Residential Residential Villaapartment house plot
DEMAND
100
80
60
40
20
0
79 79
7 812 12
2 1
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Residential Residential Villaapartment house plot
SUPPLY
Property wise Analysis - DEMAND
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Multistorey apartment Residential house Residential plot Villa
Q1 Q2 Q1 Q2 Q1 Q2
14 1393
5
92
6 13
8384
12
77
89
75
Property wise Analysis - SUPPLY
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Multistorey apartment Residential house Residential plot Villa
Q1 Q2 Q1 Q2 Q1 Q2
36 42
9291
6 16
8183
14
41
1112
45
67
City Level Analysis
l Demand and supply in the sub-citywas largely inclined towards multi-storey apartments even thoughlimited fluctuation was noticed inthese units since Apr-Jun 2013.
l Demand remained low for all other property types during theJul-Sep 2013 quarter.
l While supply was almost alignedwith demand for all property types,residential plots saw a marginalover-supply with availabilityexceeding demand by 3 per cent.
Zone Level Analysis
l Amongst the New DevelopingSectors, which recorded maximumdemand for multi-storeyapartments, Sectors 76, 78 and 120noted the highest buyer interestduring the Jul-Sep 2013 quarter.
l While the buyers were largelyinclined towards apartmentsacross Noida, sectors in Old Noidawere the only exceptions, wherebuyers showed some interest inresidential houses.
l Sectors such as 26 and 50 in OldNoida were among the toppreferred localities for houses withmaximum demand.
l A significant over-supply wasnoted for residential houses in OldNoida during the Jul-Sep 2013quarter. Supply exceeded demandby nearly 30 per cent. This is a riseof nearly 6 per cent from the Apr-Jun 2013 quarter.
l Sectors such as 40, 41 and 50registered the maximum supply ofthese properties during the Jul-Sep 2013 quarter.
l Maximum demand and supply forresidential plots was noted alongthe Noida-Greater NoidaExpressway particularly in Sectors 105 and 150. Supply inchedup by 2 per cent during the presentquarter.
l Demand and supply for villaprojects remained subdued acrossall zones during the current Jul-Sep 2013 quarter.
Property Wise Analysis
The first graph, Property-wise Analysis – City Level, depictshow demand and supply statistics for different property typeshave changed at the city level over a period of six months.
The Property wise graphs by Demand and Supply comparebuyer requirements and the existing listings for variousproperty types in different zones in the six-month period fromApril 2013 to September 2013.
NOIDA-GHAZIABAD27VOL3, ISSUE 2; JUL-SEP, FY 2013-14 propindex.magicbricks.com
BHK Configuration - City Level
50
40
30
20
10
0
5 6
46 47
42 40
7 7
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2 BHK 3 BHK 4BHK &above
DEMAND SUPPLY
50
40
30
20
10
0
3 4
31 32
45 45
2119
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2 BHK 3 BHK 4BHK &above
BHK Configuration - DEMAND
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
1 BHK 2 BHK 3 BHK 4 BHK & above
Q1 Q2 Q1 Q2 Q1 Q2
53 5542
4044 45
BHK Configuration - SUPPLY
120
100
80
60
40
20
0
Q1 (Apr-Jun 2013)
Q2 (Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
1 BHK 2 BHK 3 BHK 4 BHK & above
Q1 Q2 Q1 Q2 Q1 Q2
50 484748
31
50
30
50
6
36
6
389
42
77
40
9
41
8
47
40
89
38
18
32
18
31
1617
9
City Level Analysis
l During the Jul-Sep 2013 quarter themaximum demand was noted for2BHK units with nearly 50 per centbuyer interest.
l However, supply of these units fellshort by 15 per cent while amarginal over-supply was noted forthe larger 3BHK units.
l While demand and supply for1BHK units remained subdued,larger homes (4BHK and above)saw an over-supply of 12 per cent atthe city level.
Zone Level Analysis
l The New Developing Sectors sawthe highest demand for 2BHK unitsduring the Jul-Sep 2013 quarter.Demand was largely concentratedin Sectors 76, 78 and 120 whichcontributed to more than 40 per cent of the demand.
l Almost equal demand was notedfor 2 and 3BHK units along theNoida-Greater Noida Expresswayand Old Noida. Both zonesrecorded more than 40 per centbuyer interest in the twocategories.
l Demand for 1 and 4BHK and abovecategories remained subdued,displaying no fluctuation from theprevious quarter.
l A drastic shortfall of 30 per centwas noted for 2BHK units in OldNoida while availability of 3BHKfell short by 10 per cent.
l As compared to the existingdemand, supply for 2BHK unitswas found to be deficient across allzones with a shortfall of 9-30 percent recorded in different zones.
l However, supply of 2BHK depicteda positive trend along the NoidaExpressway and in the NewDeveloping Sectors with a rise of 1-2 per cent.
l Supply of larger homes (4BHK andabove) in Old Noida was found toexceed demand significantly bynearly 40 per cent. Sectors 40, 41and 50 contributed largely towardsthis over-supply.
BHK Configuration Analysis
The City BHK Configuration graphs represent demand andsupply of 1, 2, 3 and 4BHK apartments in the city in twoconsecutive quarters – Apr-Jun 2013 and Jul-Sep 2013.
The BHK Configuration graphs by Demand and Supplycompare buyer requirements and the existing listings forvarious configurations in different zones in the six-monthperiod from April 2013 to September 2013.
NOIDA-GHAZIABAD 28VOL3, ISSUE 2; JUL-SEP, FY 2013-14propindex.magicbricks.com
Budget-wise Analysis
l Demand and supply for differentbudget categories have remainedalmost stable since the last sixmonths (Apr-Sep 2013).
l The highest demand and supplywas noted for properties pricedwithin Rs 40-70 lakh particularly,in localities such as Indirapuram,Vaishali and Crossings Republik.
l The second most preferred budgetcategory was Rs 20-40 lakh whichwas also the second most supplied.Raj Nagar Extension saw a healthydemand and supply in this range.
Property Type Analysis
l Multi-storey apartments remainedthe most preferred property typeduring the current quarter with amarginal rise of 2 per cent indemand. The second mostpreferred property type wasbuilder floor units.
l Supply in the sub-city was not asper the demand trends. Supply forapartments fell short by 20 per centduring the Jul-Sep 2013 quarter.
l An over-supply of 23 per cent wasnoted for builder floor units.Vasundhara and Bhopura recordedhigh supply of these.
BHK Configuration Analysis
l 2BHK units continued to be thepreferred configuration for homebuyers in Ghaziabad with morethan 50 per cent demand.
l Nearly 79 per cent of this demandcame from localities such asIndirapuram, Vaishali, CrossingsRepublik and Raj Nagar Extension.
l Supply for 2BHK units however,fell short by 6 per cent while anover-supply of 7 per cent was notedfor 3BHK units in the currentquarter.
50
40
30
20
10
0<20 20-40 40-70 70-100 100 &
above
8
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
8
30 3237 35
16 15
9 10
(Apr-Jun 2013)
(Jul-Sep 2013)
Budget wise Analysis - City Level
DEMAND
50
40
30
20
10
0<20 20-40 40-70 70-100 100 &
above
9
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
8
3233
36
37
14
13
9 9
(Apr-Jun 2013)
(Jul-Sep 2013)
SUPPLY
Property wise Analysis - City Level
80
60
40
20
0
71 73
15 15
4 3
10 8
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residentialapartment floor house plot
DEMAND
80
60
40
20
0
50 53
4038
3 37 6
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residentialapartment floor house plot
SUPPLY
BHK Configuration - City Level
60
40
20
0
12 13
54 52
30 30
4 5
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2 BHK 3 BHK 4BHK &above
DEMAND SUPPLY
60
40
20
0
11 11
46 46
37 37
6 6
(Apr-Jun 2013)
(Jul-Sep 2013)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2 BHK 3 BHK 4BHK &above
DEMAND - S UPP LY ANALYS I S ( G ha z i a b a d )
City Level graphs represent demand and supply in differentbudgets in the city in two quarters. Zonal Demand andSupply graphs decode specific requirements, listings andavailability according to types of property and BHKconfiguration.
Buyer demand analysis includes city and zone level analysis of three parameters - Budget, Configuration andProperty Types. Each of these have been analysed from the supply and demand perspective. These give insightinto a city’s real estate profile in the quarter.
ANNExUrES
NOIDANoida Expressway 4350 to 5350
Sector-1 3050 to 3500
Sector-28 8100 to 9950
Sector-29 7200 to 8650
Sector-32 7550 to 8550
Sector-34 7100 to 8500
Sector-37 6600 to 8250
Sector-44 11650 to 14050
Sector-45 5750 to 6350
Sector-46 5100 to 5700
Sector-49 3250 to 4100
Sector-50 7500 to 9000
Sector-51 6850 to 7750
Sector-52 6800 to 7950
Sector-61 6750 to 7950
Sector-62 5800 to 7100
Sector-70 4750 to 5800
Sector-72 2700 to 3600
Sector-73 3150 to 3700
Sector-74 4600 to 5150
Sector-75 4450 to 4950
Sector-76 4750 to 5150
Sector-77 4850 to 5500
Sector-78 4850 to 5500
Sector-79 4400 to 5000
Sector-82 5750 to 6550
Sector-86 3750 to 4150
Sector-92 7550 to 8650
Sector-93 6700 to 8750
Sector-93A 6400 to 8050
Sector-93B 7000 to 7950
Sector-94 9600 to 10800
Sector-100 5650 to 6800
Sector-104 7400 to 8400
Sector-107 5100 to 6150
Sector-108 5200 to 6000
Sector-110 5300 to 5900
Sector-113 4000 to 4500
Sector-117 4200 to 4750
Sector-119 4550 to 5400
Sector-120 4800 to 5600
Sector-121 4650 to 5350
Sector-128 6050 to 8050
Sector-129 4600 to 5150
Sector-131 4750 to 5650
Sector-133 4200 to 4650
Sector-134 4100 to 4700
Sector-135 4200 to 4600
Sector-137 4650 to 5250
Sector-143 4100 to 4750
Sector-143 B 4250 to 5200
Sector-150 4050 to 4750
Sector-151 3150 to 3600
Sector-168 4700 to 5250
GHAZIABADAbhay Khand 5100 to 6450
Ankur Vihar 2650 to 3100
Bhopura 2800 to 3450
Chander Nagar 4550 to 5900
Crossings Republik 3350 to 3900
DLF Dilshad Extn 2900 to 3600
Govindpuram 2700 to 3300
Gyan Khand 4300 to 5250
Indirapuram 4750 to 6000
Kaushambi 5250 to 6450
Lal Kuan 2450 to 3150
Mohan Nagar 4000 to 4850
Neeti Khand 1 4300 to 4950
Niti Khand-Indirapuram 4250 to 5200
Pratap Vihar 3500 to 4250
Raj Nagar Extension 2700 to 3300
Rajendra Nagar 3350 to 4200
Ram Prastha 5850 to 7550
Sahibabad 3450 to 4550
Shakti Khand 3 4300 to 5150
Shalimar Garden Extn-1 3400 to 4150
Surya Nagar 5650 to 7750
Vaishali 4850 to 6100
Vasundhara 4650 to 5650
CAPITAL VALUES – LOCALITY WISE
Average Listed Residential Apartment Prices
Locality Capital Values (Rs/Sq feet)
Locality Capital Values (Rs/Sq feet)
NOIDA-GHAZIABAD
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