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A very Happy New Year to all our readers!
The 7th edition of PropIndex comes when real estate markets across the countryhave stabilized, home loan interest rates are finally coming down thanks to somevery welcome measures by the Reserve Bank of India. Also a hint by the Ministerfor Housing that affordable housing will get industry status and the bag of goodiesthat the announcement brings with it. Exciting times to make a good investmentin a house.
We have studied supply and demand trends to help you figure out what the bestdeals should cost. Even as we wait for the Finance Minister to unveil on what is instore for the real estate sector in the Union Budget, data and statistics already spellgood news. All Indian markets have posted stable values. The National Index is up3 points. The Noida market has shrugged off the land acquisition blues and hasposted positive growth. Ghaziabad emerged as the fastest growing real estate hub.Developers have continued to boost supply of luxury housing in the quarter,reflecting their continued confidence in the markets. The government’s move toboost affordable housing is well timed as buyers too have shown their optimism.
You have now got used to getting something new in each issue of PropIndex. Andwe cannot let you down. This issue carries the top 10 preferred cities by demandfor lease and sale at the city and locality levels. Demand analysis has beenpresented in an easy-to-use bulleted version. Also, read what industry experts sayon the prospects of each city. And, importantly, we now make it possible for you tosimply log in and read your PropIndex anytime anywhere – we are delighted tolaunch a soft copy of PropIndex to be accessed on Magicbricks.com!
PropIndex is based on listed properties and requirements on Magicbricks.com.These are evolved into statistics, cleaned up and experts consulted to analysetrends. For developers and agents, the changing patterns of demand is a clue towhat the buyers are looking for. For the buyer, these analytics give a crediblebenchmark against which to make property investments. Globally, real estateinvestments are driven with meticulous research. Clubbed with the various adviceinitiatives that are available to you on magicbricks.com, you as a buyer will be ableto make informed decisions.
With PropIndex into its 7th quarterly edition, we now have a bank of very usefultrends and content about market performance at a city/locality level. You may alsovisit MagicBricks.com and explore all our content/research sections which carryample information about property markets, news and trends. Do share with uswhether PropIndex has helped you in understanding property markets better andin making a more intelligent real estate decision. Our team puts its effort inimproving each new edition to meet this stated objective of PropIndex. Your inputswould direct our efforts much better. Do write in!
FOREWORD
Sudhir PaiBusiness Head, [email protected]
MagicBricksPropIndexMagicBricks.comPropIndex is a tool whichempowers propertyseekers and investors withdetailed information onthe movement ofresidential apartmentprices and supply ofproperties in India. Nocredible property indexcan be a function of directvalues as the changes aregoverned by multiplefactors.
MagicBricks.comPropIndex has taken thisreality into account andproduced an index basedon listing of apartmentsand their capital andrental values on thewebsite.
MagicBricks.com has over 400,000 active propertiesposted by more than1,00,000 active users in 300cities and 3,500 localities.Our users include owners,agents and developers.
MethodologyApartment values arebased on listings onMagicBricks.com. Theseinclude multistoreyapartments and singleunits on plotteddevelopments, referred toas builder floors onMagicBricks.com.
The Index is structured in
such a way that individualproperties are aggregatedinto their respective citiesand then to the NationalIndex. Weightages forPropIndex are based on thesupply of propertieswithin the locality/city.Based on this structure,PropIndex gives a realisticpicture of trends inprice/supply acrossdifferent property marketsin each city. We have useddifferent weightages forListed Price Monitor/RentMonitor. Therefore, read asa whole, PropIndex alongwith tables provided forListed Price Monitor, RentMonitor, Yield Monitor andCapital Values, gives anexcellent perspective ofthe property marketperformance in thequarter.
While listing and itsvalues/supply provide alevel of understandinginto the market, there aremeticulous data checks toprevent aberrationscreeping into the Index.These are based onstatistical calculations,industry inputs and logicalinterpretations.
The National PropertyIndex (NPI) is indicative ofthe extent of activity aswell as price movementsacross cities and localitiesin the major cities activeon MagicBricks.com. Theindex includes the top 11
cities (these have beenchosen based on theiractivity levels) and has anindividual city report foreach of these cities. Whilethe NPI and its movementsare of interest to theexpert community ofbankers, builders andinvestors, the PropIndexhas also taken care toexplain the nuances ofindex movements at thelocality level that wouldhelp the huge base ofMagicBricks.comconsumers.
Insights into consumerdemand have beengathered through analysisof search information onthe site. This helpsunderstand the bestlocalities by demand, thetype and configuration ofunits as well as the budget-wise preferences.
The PropIndex is the resultof meticulous research atthe locality level andthrough detaileddiscussions with experts atMagicBricks.com’s offlineand online initiatives.
The Indian real estatemarket is dynamic and thePropIndex reflects thosechanges. Since it is derivedfrom a dynamic database,additions and deletions oflocalities happen as afunction of marketdynamics.
METHODOLOGY
There is a wealth of information within these pages. For better readability, we have presented some data as tablesand others as graphs. Between them, you will find how property markets have performed in the Oct-Dec 2012 quarter from many different perspectives – from that of capital appreciation, from a rental/yieldrealisation perspective and from the stand of supply of properties. Also understand what consumers want in theDemand Analysis section.
We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of theperformance of the property market within each city. Here are details of what you will find in each of the cityreports enclosed within -
1. City Property Index – This is a composite index which is a function of supply of properties as well as theaverage capital appreciation/drop in various localities of the city in the quarter. The city index is theweighted average of the average rate per square foot in that locality and the supply of properties from thatlocality. Premium localities (with higher average rate per square foot) as well as localities with higher supplyof properties will have a bigger impact on the Index. For example, if the supply of properties from apremium locality drops, that locality will end up having a lower weightage in the index which in turn willpush the Index downwards (and vice-versa). On the other hand, supply of properties remaining unchanged,the index will be influenced by capital appreciation within the locality.
2. Listed Price Monitor – This metric shows the capital appreciation/drop within a locality and is calculatedon the basis of movement in the “average rate per square foot” within that locality. By and large, themovement in the “average rate per square foot” reflects capital appreciation/ drops. However, in a few selectcases, we have observed that the average rate per square foot moves due to a change in the mix of apartmentswithin that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rate,changes over the quarter). In these few circumstances, the Listed Price Monitor will, in turn, reflect thisinput. Such changes have been explained in the text of the City Reports.
3. Rent Monitor – This reflects the rental appreciation/drop within a locality. It is calculated on the basis ofmovement in the “average rent per square foot” within that locality. By and large, the movement in the“average rent per square foot” reflects rental appreciation/drops. However, in a few selected cases, we haveobserved that the average rent per square foot moves due to a change in the mix of apartments within thatlocality (e.g. if the ratio of premium apartments, which command a higher per square foot rent, changes overthe quarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Such changes havebeen explained in the text of the City Reports.
4. Yield Meter – Yield is the annual rate of return earned on property. The Yield Meter depicts the gross yieldpercentages across various localities. Gross yield is a ratio of average annual rental value to the averagecapital value of the property.
5. Capital Value Tables (given in Annexures) – This shows the actual range of prices within which propertieswere available in each locality in the quarter. Prices are shown in Rupees per square foot basis; these are theprevailing rates for properties in each locality.
6. Demand Analysis –This analysis of consumer demand is based on searches and requirements that usershave performed on MagicBricks.com. The top localities by demand gives an insight into consumerpeferences. The demand data has been used to arrive at various aspects of consumer requirements includingBudget-wise analysis, Property type analysis and BHK configuration analysis. This section also provides acomparison between demand and supply in the Oct-Dec, 2012 and Jul-Sept, 2012 quarters.
7. Realty News – Property market performance is also dependent on drivers outside the purview of buyingand selling. There are broadly four key drivers that determine the prospects of real estate – infrastructuresuch as water and power, transport links creating new growth corridors, policy such as rental laws, propertytax, etc and return on investment. From this issue onwards, PropIndex focuses on news bytes that impactfuture prospects of real estate in the city.
GLOSSARY & DEFINITIONS
OCT-DEC 2012
The National Property Index(NPI) went up by 3 per cent in theOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter. TheNPI is a weighted average ofsupply and prices across 11 citiesin India.
Of the 11 cities in the apartmentindex, nine saw a marginal risewhile one recorded stable valuesand the other registered a smalldrop in the city index. Ghaziabad,Mumbai, Hyderabad, Pune, Delhi,Kolkata, Chennai, Gurgaon andNoida witnessed rise in city indexvalues. On the other hand,Ahmedabad registered stablevalues and Bangalore remainedlargely stable with a small 2 percent drop in the city index valueduring the Oct-Dec 2012 quarter.
Ghaziabad topped the city indexchart by registering a 5 per centincrease, followed by Mumbai,Hyderabad, Pune and Delhi, witha 3-4 per cent rise. Kolkata,Chennai, Gurgaon and Noida sawa rise of 1-2 per cent.
The NPI is a weighted average ofcity indices. Mumbai, Gurgaon,Pune and Noida were the majorcontributors to the NPI. TheMagicBricks.com PropIndex isbased on dynamic data minedfrom the portal to show levels ofsupply and the type of propertylisted in each locality. These arecleaned with complex algorithmsto remove outliers and arrive atthe index values at locality, cityand national levels.
The Index is impacted by thenumber and average price ofproperties in each locality and thelocality’s weightage in the city.This is based on its contributionto the city’s property data bank.The listings on the website are byend users and market participantsand the index is based on a mix ofnewly developing and establishedlocalities. New and oldconstructions are also a part ofthe listings.
The composite index value of acity draws from the changingindex values of different localitiesin that city. Localities that were
more active compared to otherscan contribute significantly to theindex values of that city. Thisindex is reflective of trends acrossmulti-storey and single floorapartments (commonly known asbuilder floors) around 11 cities.
n The National Property Indexrose by 3 per cent.
n Maximum consumerdemand (24 per cent)registered for residentialproperty between Rs 30-50 lakh
n Six out of 11 citieswitnessed over 65 per centdemand for multi-storeyapartments.
n Ahmedabad, Hyderabadand Bangalore witnessedmaximum consumerdemand for villas
IN THIS REPORT:
National Property Index...............1
Delhi.........................................4
Gurgaon...................................10
Noida & Ghaziabad................... 16
Mumbai....................................24
Pune........................................30
Ahmedabad..............................36
Kolkata...........,........................ 40
Chennai....................................46
Hyderabad................................52
Bangalore.................................59
Annexures.................................66
NATIONAL PROPERTY INDEX (NPI)
VOL 2, ISSUE 3; OCT-DEC, FY 2012-13
OCT-DEC 2012
2VOL2, ISSUE 3; OCT-DEC, FY 2012-13
NATIONAL PROPERTY INDEX
l Maximum consumer demand(24 per cent) registered forresidential property between Rs 30-50 lakh
l Affordable properties in theprice bracket of up to Rs 20lakh, witnessed the secondhighest demand (16 per cent).
l Except Mumbai and Gurgaon,2BHK remained the mostpreferred category across India.
l 1BHK and 3BHK categorieswitnessed maximum consumerdemand in Mumbai andGurgaon respectively.
In the Oct-Dec 2012 quarter,Ahmedabad city index remainedunchanged. Low rate oftransactions led to a stagnantproperty market in the quarter.
Despite a rise and fall in capitaland rental values in certainlocalities, the city index, the listedprice monitor as well as the rentmonitor remained unchangedduring these three months.
The Bangalore city indexwitnessed a drop of 2 per cent inthe Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter that rose by 7 per cent.Bangalore real estate marketrecorded no increase, reflecting astable market. This was primarilydue to continued buyer interest.Driven mainly by the IT industry,the over cautious approach tobuying in the beginning of 2012,has shifted more towards thepositive scale. By and large, theBangalore residential marketmanaged to maintain its steadypace, showing no great tilt.
The Chennai property index roseby 2 per cent during the periodOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatremained unchanged. TheChennai listed price monitorrecorded a slight increase at 1 percent for the same period,reflecting a stable market. Thiswas primarily due to the buyerscontinuing with the conservativeattitude towards buying. Theoutskirts recorded a rise incapital values primarily, withcertain notable exceptions, due tothe presence of IT companies.
The Delhi index witnessed asmall increase of 3 per centquarter-over-quarter in the lastsix months. On the other hand,the listed price monitor saw adrop of 1 per cent within the Oct-Dec 2012 quarter. Rates havecontinuously moved up. Over 54per cent of localities in the citywitnessed growth in averagerental values and more than 45per cent of the localities in thecity registered rise in averagecapital values. These are RohiniSector-24, Malviya Nagar, Kalkaji,Uttam Nagar and VasundharaEnclave.
The Ghaziabad index witnessed a5 per cent increase - the maximumby any city, in the Oct-Dec 2012quarter. The average listed pricemonitor rose by 2 per cent duringthe quarter. The price monitorhad increased by 1 per cent in theJul-Sept 2012 quarter. Theperformance of the suburb wastriggered by sharp growth invalues in areas such as CrossingsRepublik, Bhopura andVasundhara, which sustainedtheir last quarter’s growth of 11,10 and 8 per cent, respectively.This pushed the city indexupwards.
The Gurgaon city index rose by 2per cent during the Oct-Dec 2012quarter. Dwarka Expressway,sectors 57 and 82 are some primelocalities in the city which havedone exceedingly well in this
Upto Rs 20 Lakh Rs 20-30 Lakh Rs 30-50 Lakh Rs 50-70 Lakh Rs 70-100 Lakh Rs 1-2 Crore Rs 2 Crore & Above
National level - Consumer Budget Preference
30%
25%
20%
15%
10%
5%
0%
16% 15%
24%
14% 13%11%
7%
Top Preferred Cities
Rank WiseCities Buy Rent
Mumbai 1 1
Bangalore 2 2
Pune 3 3
New Delhi 4 4
Hyderabad 5 7
Chennai 6 5
Ahmedabad 7 10
Gurgaon 8 6
Kolkata 9 8
Noida 10 9
3VOL2, ISSUE 3; OCT-DEC, FY 2012-13
quarter. The reason behind thewellness of these localities couldbe the new constructions whichare rapidly taking place. Manyresidential complexes and officespaces are coming up. Upcomingnew stock and increase in averageproperty prices in the newdeveloping sectors in the citytilted the index upwards.
The Hyderbad city index rose by3 per cent during the Oct-Dec 2012quarter. The listed price monitorof the city witnessed an increaseof 1 per cent during the samequarter. Across the city only 21per cent of the total localitieswitnessed an increase in averagecapital values. This has arrestedthe growth rate of the listed pricemonitor. Localities such as ECIL,Kondapur and Banjara Hillswitnessed the maximum increasein average prices.
The Kolkata property index roseby 3 per cent during the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatwitnessed growth by a mere 1 percent. An important factor thatcontributed to the growth of thereal estate sector in Kolkata wasrestricted supply, which led to asurge in demand. Severalinfrastructure projects across thecity pushed the real estate marketin several parts of the city. Metro,flyovers, beautification of roads
and EM Bypass impacted realestate values positively.
The Noida index witnessed just 1per cent rise in the city indexvalue. Noida realty is coming backto normalcy after thecontroversies surrounding landacquisition and problems offarmers’ agitation. The double-digit increase in capital values ofsectors 75 and 93 along withmoderate increase in Sectors 62,74, 82 and 143 helped the Noidalisted price monitor in posting avery small growth. The proposedimprovements in physicalinfrastructure such as the metroand roads along with themushrooming offices remained atrigger for growth in the capitalvalues of Noida
The Pune city index rose by 3 percent during the Oct-Dec 2012quarter as compared to the 4 percent rise experienced in the Jul-Sept 2012 quarter. Demandwas more visible for ready-to-move-in units as well as for largerapartments. The residentialmarket recorded positive trendswith capital values moving up by2-10 per cent in different localities.Nearly stable rental values werewitnessed in almost 50 per cent ofthe localities across the cityduring the Oct-Dec 2012 quarter.Localities in close proximity to IThubs continued to register
increased rental demand, pushingup rental values.
Unlike the Jul-Sept 2012 quarter,the Mumbai index rose by 4 percent during Oct-Dec 2012 quarter.A surge in average listing priceowing to steady demand pushedthe city index up. However, lowtransaction rates were witnessedin the city. Maximum activity tookplace in the outskirts of Mumbaisuch as Navi Mumbai and Panvel.
TOP YIELD GROSSERS
Rental yield is a factor of the changes inrental values locality-wise vis-à-vis thechanges in capital values. Given beloware the top yield-grossing localities ineach city
Locality Gross yield
Bangalore, Electronic City 5.59%
Hyderabad, Nizampet 5.10%
Kolkata, EM Bypass 5.00%
Chennai, OMR 4.87%
Ahmedabad, SG Highway 4.55%
Noida, Sector-92 3.47%
Gurgaon , Sector-31 3.43%
Pune, Viman Nagar 3.12%
Mumbai, Powai 2.99%
Ghaziabad, Indirapuram 2.90%
Delhi, Mayur Vihar Phase-I 2.41%
CAPITAL GAINS
The table given below indicates maximum increase in capital values in each city
Locality % Change
Kolkata, EM Bypass 12.75%
Noida, Sector-75 12.27%
Delhi, Rohini Sector-24 11.97%
Ghaziabad, Crossings Republik 11.30%
Gurgaon , Sector-85 11.11%
Chennai, Valasaravakkam 10.55%
Mumbai, Pokhran Road 9.84%
Bangalore, Koramangala 9.35%
Pune, Wanowrie 8.96%
Hyderabad, ECIL 7.95%
Ahmedabad, Bopal 3.25%
NOIDA-GHAZIABAD 16VOL2, ISSUE 3; OCT-DEC, FY 2012-13
NOIDA INDEX
Noida realty is coming back tonormalcy after the controversiessurrounding land acquisition andproblems of farmers’ agitation.Extending the gains of Jul-Sept 2012 quarter, the Noidacity index saw moderate growth of1 per cent in the Oct-Dec 2012quarter.
The growth in average listed pricemonitor softened to 1 per cent inthe Oct-Dec 2012 quarter ascompared to 4 per cent in the Jul-Sept 2012 quarter. The double-digit increase in capital values ofsectors 75 and 93 along withmoderate increases in sectors62,74,82 and143 helped the Noidalisted price monitor in posting agrowth.
The MagicBricks.com yield meterfor Noida registered returns of2.43 per cent to 3.47 per centagainst the range of 2.75-2.87 per
cent during the Jul-Sept 2012period. Sector 62, which toppedthe chart in the previous quarterwith return of 2.98 per cent,slipped to 2.94 per cent in the Oct-Dec 2012 quarter. Sector 82continues to see the lowest yieldin Noida at 2.43 per cent.
GHAZIABAD INDEX
This comparatively affordableresidential suburb of NCRshowed a significant improvementin performance over the Jul-Sept 2012 quarter. The 5 percent growth in the city’s property
index during the Oct-Dec 2012quarter is remarkably better thanthe lacklustre 1 per cent growth ofthe Jul-Sept 2012 quarter. Duringthe same quarter the NPIregistered a growth of 3 per cent.
The average listed price monitorrose by 2 per cent during the Oct-Dec 2012 quarter.
The yield meter ofMagicBricks.com for Ghaziabadremained marginally subdued at2.25 per cent to 2.90 per cent in theOct-Dec 2012 quarter as against
L I S T E D P R I C E M O N I T O R
PROPINDEX - NOIDA-GHAZIABAD
Locality RankQ3 Q2
Sector-50 1 1
Sector-137 2 2
Sector-78 3 3
Sector-100 4 4
Sector-62 5 6
Sector-61 6 5
Sector-110 7 8
Sector-76 8 -
Sector-82 9 10
Sector-93 10 9
Top Preferred Localities
Note: Q3 Oct-Dec 2012, Q2 Jul-Sep 2012
NOIDA-GHAZIABAD17VOL2, ISSUE 3; OCT-DEC, FY 2012-13
2.30 to 2.98 per cent in the earlierquarter. Of the monitored areasin Ghaziabad, Indirapurammaintained the highest yield at2.90 per cent though it was lowerthan 2.98 per cent of the earlierquarter.
LISTED PRICE MONITOR - NOIDA
The proposed improvements inphysical infrastructure such asthe metro and roads remained atrigger for growth in capitalvalues of Noida. Addedattractions like the opening ofYamuna Expressway and Formula1 racing have enhanced theinvestment potential of the city.
Brijesh Bhanote, director, sales
and marketing, The 3C Company,says, “Noida is still value formoney in comparison to otherneighbouring cities. One can getapartments between Rs 4,000-5,000per sq ft on Noida Expressway.”Sales have been good despite pastcontroversies. With the presenceof IT/ITeS companies andimproved infrastructure, the cityhas got enough demand forhousing. The residential rentals
are also creeping up, he adds.
Data with MagicBricks.comindicates that sectors 62, 75, 93and 143 enjoyed maximumappreciation in Oct-Dec 2012 notunlike sectors 50, 76 and 78 in theearlier quarter. The capital valueof sector 93A slipped with 1 percent decline compared to 4 percent appreciation in the Jul-Sept 2012 quarter. Growth insectors 50 and 75 remained flat.
Noida and Greater Noida Boardsin January 2013 have approvedextension of the metro route fromNoida to Greater Noida and CityCentre to sector 62. This decisionis expected to have a bearing oncapital values in sectors 74-78,among others. The connectivity ofthese sectors to the well-developedareas like sectors 18, 61, 62 and 63have helped them emerge as
RENT MONITOR Rent Price Percentage Change
The whole of Noida stilloffers value for money incomparison to otherneighbouring cities. It hassomething for everysegment of buyer. Beingaffordable in comparisonto neighbouring citiessuch as Delhi andGurgaon, there would begrowth.
Brijesh BhanoteDirector, Sales andMarketing, The 3C Company
Top Preferred Rental LocalitiesNew
Locality RankOct-Dec’12
Sector-62 1
Sector-82 2
Sector-50 3
Sector-61 4
Sector-93 5
Sector-19 6
Sector-37 7
Sector-41 8
Sector-44 9
Sector-15 10
Locality RankQ3 Q2
Indirapuram 1 1
Vaishali 2 2
Crossings Republik 3 3
Vasundhara 4 5
Raj Nagar Extension 5 4
Kaushambi 6 6
Shalimar Garden Extn-1 7 8
Govindpuram 8 7
Pratap Vihar 9 10
Sahibabad 10 9
Top Preferred Localities
Note: Q3 Oct-Dec 2012, Q2 Jul-Sep 2012
NOIDA-GHAZIABAD 18VOL2, ISSUE 3; OCT-DEC, FY 2012-13
attractive investment options forbuyers. Sectors 93B and 137maintained the growth of theearlier quarter and remainpopular due to their locationadvantage. Sectors 100 and 110 onthe Noida-Greater NoidaExpressway saw moderate growthof 1 and 2 per cent, respectively.
Demand continues to be strong forflats in 2 and 3BHKconfigurations. The supply acrossthese ranges has been on the rise.However, preference for largerapartments is clearly visible inwell-developed sectors of Noidasuch as sectors 25, 29, 44 and 50.
LISTED PRICE MONITOR -GHAZIABAD
Ghaziabad remains a propertyhotspot for those looking to buy
an affordable and premiumproperty closer to Delhi. Areassuch as Vasundhara, Vaishali, RajNagar Extension and CrossingsRepublik remained favourites andregistered higher capital value.
Sunil Jindal, CEO, SVP Builders,says, “Property prices havealmost doubled in areas such asVaishali, Vasundhara andKaushambi. The primary factorleading to the price hike is theVaishali Metro that would furthergo till Arthala. While new projectsare being launched at Rs 5,000-5,500 per sq ft, properties in resaleare available at Rs 6,000 per sq ftor more. This kind of pricing isalmost close to that prevailing inareas like Partparganj and partsof Mayur Vihar. A year ago theseprices were Rs 2,000 per sq ftlower. Areas that would seegrowth in rental and capitalvalues are National Highway24,58, Vaishali, Vasundhara andIndirapuram”.
A reason behind the appreciationin areas like Vasundhara andVaishali is the scarcity of newsupply and additional space fornew projects. Therefore,developers are left with littlescope for expanding in the region.These two localities also enjoyproximity to Anand Vihar whichis already connected with centralDelhi by the metro.
Sanjay Rastogi, director, SaviourBuilders, Ghaziabad, says, “InGhaziabad, there have not beenmany new supplies. This has led
to a rise in prices. While saleshave dropped developers haveincreased their rates. Overall salerevenue for developers is thusmaintained.” He adds, “I expectprices to move up by 5-10 per centin the next one year. If theproposed infrastructure
NOIDA
n Sector 92 posted the highest gross yieldwith 3.47 per cent.
n Sector 82 posted the lowest gross yieldquarter-on-quarter.
GHAZIABAD
n Indirapuram continued to post thehighest gross yield quarter on quarter.
n Crossings Republik posted lowest grossyield with 2.25 per cent.
Y I E L D M E T E R
QUICKSTATS - Noida
n Yield Meter: Yield ranges between2.43% to 3.47%
n Capital Values rose in 34% localities
n Rental Value rose in 40% localities
n City Index rose from 158 to 160
n Price Monitor rose from 141 to 143
Noida possesses the bestconnectivity to primeareas of Delhi, making ita preferred residentialdestination. The qualityof social infrastructure isalso much better ascompared to other cities.Rental rates too will firmup in 2013.
Pankaj BajajManaging Director Eldeco Group
Prices in Ghaziabad willrise by 5-10 per cent in2013 as there is hugedemand and no newprojects have come up asthe authority has notsanctioned any newprojects. It is alsowitnessing investmentsfrom second homebuyers.
Sanjay RastogiDirectorSaviour Builders
NOIDA-GHAZIABAD19VOL2, ISSUE 3; OCT-DEC, FY 2012-13
materialises, the city wouldwitness further growth in prices.”
Bhopura had a 10 per centappreciation in the Oct-Dec 2012quarter compared to a sharpcorrection of 6 per cent in the Jul-Sept 2012 quarter.
RENT MONITOR - NOIDA Noida was a mixed bag on therental income front during theOct-Dec 2012 quarter. Sectors 50,61 and 82 that led the pack inrental income during the Jul-Sept 2012 quarter, slipped intothe negative territory in the Oct-Dec 2012 quarter.
On the other hand sector 62remained the top pick in terms ofrental income showing a growthof 7 per cent in the Oct-Dec 2012quarter against no change in theJul-Sept 2012 quarter. Oldersectors like 25 and 29 also saw amodest rise in rental incomes.
Amit Gupta, MD, OrrisInfrastructure, says, “Because ofsuperb connectivity, NoidaExpressway and Noida Extensionare witnessing a steep hike inprices. The presence of IT/ITeScompanies would continue topropel the growth of rentalmarkets in Noida. Existing areaswould continue to witness rentalhike as there is huge demand”.
RENT MONITOR - GHAZIABADLow and affordable rent incomparison to Noida appears tohave boosted the demand forrental property in areas likeVasundhara and CrossingsRepublik. This is evident in thesharp hike in rental incomes inthe two localities. Vasundharatops the list in Ghaziabad with 10per cent growth in the Oct-Dec 2012 quarter, followed byCrossings Republik at 9 per cent.The two localities continue to seerental demand due to theirproximity and connectivity toNoida and Delhi. Indirapuramand Vaishali have also seen anincrease in rental incomes,
though Kaushambi reported adecline of 7 per cent.
However, while demand for newtenancies have fallen inKaushambi, existing tenanciesremain steady, says Navin Sangalof Navsan Builders and Realtor,Mayur Vihar. A large amount ofnew stock in the city isresponsible for this trend.
12,000 affordable flats at Greater Noida, Yamuna e-wayWith the aim to promote affordable housing, the Greater Noidaand Yamuna Expressway authorities will develop 12,000 flats inthe next couple of years. Land has been identified for the projectand on 24th January a layout plan was sanctioned by theauthorities. A total of 7,000 flats in Greater Noida and 5,000 flatsin Yamuna Expressway will be developed. Land was earmarkedand approved in the board meeting on January 11 and in just 13days the layout plan of the project was duly sanctioned. Thesewill be one-bedroom units housed in four storeys high complexes.The entire project costs Rs 150 crore. Each flat will be pricedbetween Rs 6.5 lakh and Rs 8 lakh.
n The Times of India, Delhi/NCR
Better connectivity drives buyers to Ghaziabad Properties have registered a decent appreciation in Ghaziabadwith the efforts of development authorities, which have workedhard to develop the social and physical infrastructure of theplace. Appreciation has been good even in an area like Raj NagarExtension, which is considered as the bastion for affordablehousing. Projects that were quoting at Rs 1,900 per sq ft a coupleof years ago are now hovering around Rs 2,700 per sq ft. Areassuch as Kaushambi, Vasundhara, Vaishali, Indirapuram,Crossings Republik, Govindpuram and Mohan Nagar haveregistered a good response.
n Times Property, The Times of India, Delhi/NCR
R E A L T Y N E W SThe two cities have diverse markets and cater to different segment of buyers. While Ghaziabad covers mostly the mid-segment buyers Noida has the capacity to involve mid-segment as well as high-end homebuyers. Both cities are witnessingrapid infrastructure boost, thereby attracting demand from both end-users as well as investors.
The city, which haswitnessed up to 60 percent jump in rates in thepast one year, will seefurther growth. Newcorridors such as MohanNagar and Bhopurawould open as therehave been variousannouncements fromthe authorities.
Sunil JindalCEO SVP Builders
To read full story and more news go to www.content.magicbricks.com
Top Preferred Rental LocalitiesNew
Locality RankOct-Dec’12
Indirapuram 1
Vaishali 2
Crossings Republik 3
Vasundhara 4
Kaushambi 5
Raj Nagar Extension 6
Ghaziabad 7
Sahibabad 8
Pratap Vihar 9
Mohan Nagar 10
QUICKSTATS - Ghaziabad
n Yield Meter: Yield ranges between2.25% to 2.90%
n Capital Values rose in 100% localities
n Rental Value rose in 83% localities
n City Index rose from 133 to 139
n Price Monitor rose from 132 to 135
NOIDA-GHAZIABAD 20VOL2, ISSUE 3; OCT-DEC, FY 2012-13
BUYER DEMAND ANALYS I S - N o i d a
Budget wise Analysis - DEMAND
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
<20 lakh Rs 20-40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1 crore and above
Q2 Q3
35
41
Q2 Q3 Q2 Q3
16
38
23
Budget wise Analysis - SUPPLY
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Q2 Q3
13
Q2 Q3 Q2 Q37374
23
26
15
23
35
16
16
31 39
13
24
33 35
14 14
35
10 9
39
40
31
13
33
38
15
33
26
31
30
13
21 20
1210 25
16
l At the city level more than 60 percent demand and supply wasrecorded for properties worthabove Rs 60 lakh.
l Demand and supply for allcategories remained largely stablein the Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter with very little fluctuationobserved.
l New Developing Sectors of Noidawitnessed a drop in demand by 3 and 6 per cent for properties inthe budget range of Rs 20-40 lakhand Rs 40-60 lakh respectively inthe present Oct-Dec 2012 quarter as compared to the last three months.
l Noida Expressway and certainsectors along the expressway such as sectors 100 and 110witnessed maximum demand forproperties worth above Rs 100 lakh. A similar trend wasalso visible in the Old Noida suchas sectors 55 and 61 with a rise of 4per cent recorded in the last twoquarters.
l A drop of 1-3 per cent wasregistered in the supply of unitspriced above Rs 100 lakh across allzones.
l Old Noida region witnessed a huge supply of these units withmore than 70 per cent availability.
l Healthy supply was also observedfor properties in the budget rangeof Rs 40-100 lakh in the NewDeveloping Sectors and along theNoida-Greater Noida Expresswaywith 2-4 per cent fluctuation fromthe Jul-Sept 2012 quarter.
Budget Wise Analysis
Purchase of property becomes easier if an account of available properties in various budgetcategories is made available. The first graph (Budget Wise Analysis-City Level) compares theavailability of residential properties in five budget ranges in two consecutive quarters: Jul-Sept 2012 and Oct-Dec 2012. The next two graphs (Budget Wise Analysis-Demand and BudgetWise Analysis-Supply) depict consumer preferences over the last two quarters. The city is dividedinto three zones - New Developing Sectors, Noida-Greater Noida Expressway and Old Noida.
100
80
60
40
20
0<20 20-40 40-60 60-100 100 &
above
2
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
2
14 13
27 2434 36
23 25
(Jul-Sep 2012)
(Oct-Dec 2012)
Budget wise Analysis - City Level
DEMAND
100
80
60
40
20
0<20 20-40 40-60 60-100 100 &
above
2
Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
2
13 12
23 24 2630 36 32
(Jul-Sep 2012)
(Oct-Dec 2012)
SUPPLY
<20 lakh Rs 20-40 lakh Rs 40-60 lakh Rs 60-100 lakh Rs 1 crore and above
NOIDA-GHAZIABAD21VOL2, ISSUE 3; OCT-DEC, FY 2012-13
Property wise Analysis - City Level
100
80
60
40
20
0
84 85
5 510 9
1 1
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Residential Residential Villaapartment house plot
DEMAND
100
80
60
40
20
0
7783
7 6
149
2 2
(Jul-Sep 2012)
(Oct-Dec 2012)
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
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Multistorey apartment Residential house Residential plot Villa
Q2 Q3 Q2 Q3 Q2 Q3
131290
8
91
6 11
85 86
10
77
10 9
77
Property wise Analysis - SUPPLY
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
Multistorey apartment Residential house Residential plot Villa
Q2 Q3 Q2 Q3 Q2 Q3
3128
89
9
92
6 15
82 87
9
44
21 11
51
7 7
l While demand for multi-storeyapartments, the most preferredproperty type, remained almoststable since the Jul-Sept 2012quarter supply for the samewitnessed a rise of 6 per centnarrowing the demand and supply gap.
l Demand remained stable across allother property types while supplydropped by 5 per cent forresidential plots in the Oct-Dec 2012 quarter.
l Demand for different propertytypes remained almost stable sincethe Jul-Sept 2012 quarter across thevarious zones.
l Maximum demand for multi-storeyapartments came from the NewDeveloping Sectors of Noida suchas sectors 78, 119, 120, 121 etc.
l Demand for residential plotswitnessed a slight drop of 1-2 percent from Jul-Sept 2012 quarter inall zones.
l A rise of 3-7 per cent was recordedin the supply of multi-storeyapartments in the Oct-Dec 2012quarter as compared to theprevious quarter across all zones
l Supply dropped for residentialplots by various margins rangingfrom 3-11 per cent across zones inthe Oct-Dec 2012 quarter. Thehighest dip in supply wasregistered in Old Noida.
l A healthy supply of residentialhouses was noted in the Old Noidaregion particularly in sectors suchas 41 and 50 with supplyregistering a rise of 3 per centfrom the Jul-Sept 2012 quarter .
Property Wise Analysis
While multi-storey apartments are the conventional mode of investment for most buyers otherproperty types such as single floor units, residential plots, residential houses and villas also findseveral takers. The first graph (Property Wise Analysis - City Level) depicts how demand andsupply statistics for different property types have changed over a period of six months at the citylevel. Buyer demand remained largely stable across property types in the Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012 quarter. The subsequent graphs (Property Wise Analysis-Demandand Property Wise Analysis-Supply) indicate how demand and supply for different property typeshave changed from the Jul-Sept 2012 quarter to the Oct-Dec 2012 quarter at the zone level.
NOIDA-GHAZIABAD 22VOL2, ISSUE 3; OCT-DEC, FY 2012-13
BHK Configuration - City Level
100
80
60
40
20
0
6 7
44 44 43 42
7 7
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
DEMAND SUPPLY
100
80
60
40
20
04 4
33 32
43 45
20 19
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
BHK Configuration - DEMAND
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
1 BHK 2 BHK 3 BHK 4 BHK & above
Q2 Q3 Q2 Q3 Q2 Q3
5053 42 4542 40
BHK Configuration - SUPPLY
120
100
80
60
40
20
0
Q2 (Jul-Sep 2012)
Q3 (Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
New Developing Sectors Noida-Greater Noida Expressway Old Noida
1 BHK 2 BHK 3 BHK 4 BHK & above
Q2 Q3 Q2 Q3 Q2 Q3
46
46 45 47
34
46
33
46
6
39
7
408
44
6 7
44
7
46
9
41
40
9 7
40
17
34
17
32
18 20
9
l As was visible in the Jul-Sept 2012quarter, buyer interest inclinedtowards 2 and 3BHK units withboth registering an almost equaldemand.
l While supply for 3 BHK units roseby 2 per cent in the Oct-Dec 2012quarter as compared to the lastthree months supply for 2 BHKdropped slightly by 1 per cent.
l Demand supply statistics acrossother categories remained largelystable.
l The maximum user interest for2BHK units was generated in theNew Developing Sectors eventhough the zone witnessed a dropof 3 per cent in consumer demandsince the last Jul-Sept 2012 quarter.
l Demand for 2BHK units rose by 5 per cent in Old Noida while itdropped by 5 per cent for 3BHKunits.
l Almost steady demand wasrecorded in other categories in theOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter.
l Supply remained unchanged for 2 and 3BHK units in the NewDeveloping Sectors in the last twoquarters.
l Maximum supply for 3BHK unitswas observed along the Noida-Greater Noida Expressway withnearly 50 per cent availabilitywhile maximum 2BHK units wereavailable in New DevelopingSectors.
l As was visible in the Jul-Sept 2012quarter supply for units in the4BHK and above category outdidsupply in all other categories bylarge margins. Sectors such as 36,41, 50 etc were major contributors.
BHK Configuration Analysis
The size and configuration of an apartment are important criteria while making a propertybuying decision. The graph ‘Budget Configuration-City Level’ represents the demand and supplyof 1, 2, 3, 4 BHK apartments in the city in two consecutive quarters namely Jul-Sept 2012 and Oct-Dec 2012. It depicts how the buyer preferences have changed over the last six months andcompares the availability of these units in the two quarters. The following graph (BHKConfiguration-Demand) gives a comparison between the buyer demand for various configurationsin different zones in the two quarters. The last graph gives an account of how the availability ofthese units has changed across zones in last six months.
7
Budget Wise Analysis l Maximum demand was recordedfor properties in the price range ofRs 20-60 lakh during the Oct-Dec 2012 quarter.
l Supply was also found to be thehighest in the Rs 20-60 lakh rangeeven though the supply remainedalmost stable in the Oct-Dec 2012 quarter.
Property Type Analysisl Multi-storey apartments remainedthe most preferred property type inthe Oct-Dec 2012 quarter as welleven though buyer interest dippedslightly by 4 per cent from the Jul-Sept 2012 quarter.
l While demand for single floorunits rose by 3 per cent ascompared to the Jul-Sept 2012quarter rest of the property typesgenerated limited user interest.
l Supply was largely limited tomulti-storey and single floor unitswith more than 90 per centavailability in these categories.
BHK Configuration Analysisl 2BHK remained the preferredconfiguration. A slight rise of 1-2 per cent in demand ascompared to the Jul-Sept 2012quarter was recorded across allcategories except for 3 BHK unitswhich saw a dip of 3 per cent.
l More than 45 per cent availabilitywas registered for 2BHK unitsparticularly in localities such asIndirapuram and Vaishali.
NOIDA-GHAZIABAD23VOL2, ISSUE 3; OCT-DEC, FY 2012-13
100
80
60
40
20
0<20 20-40 40-60 60-100 100 &
above
8Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
8
34 3426 27 24 23
8 8
(Jul-Sep 2012)
(Oct-Dec 2012)
Budget wise Analysis - City Level
DEMAND
100
80
60
40
20
0<20 20-40 40-60 60-100 100 &
above
6Fig
ures
in p
erce
ntag
e(%
)
Figures in Rs lakh
8
39 39
28 2820 21
7 8
(Jul-Sep 2012)
(Oct-Dec 2012)
SUPPLY
Property wise Analysis - City Level
100
80
60
40
20
0
7773
1316
4 4 6 7
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residentialapartment floor house plot
DEMAND
100
80
60
40
20
0
48 47 46 45
1 2 5 6
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
Multistorey Single Residential Residentialapartment floor house plot
SUPPLY
BHK Configuration - City Level
100
80
60
40
20
0
10 12
52 53
3431
4 4
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
DEMAND SUPPLY
100
80
60
40
20
0
10 11
45 46
38 37
7 7
(Jul-Sep 2012)
(Oct-Dec 2012)
Fig
ures
in p
erce
ntag
e(%
)
1 BHK 2BHK 3 BHK 4BHK &above
Purchase of property becomes much easier if an account of available properties in variousbudget categories is made available. The graph - Budget Wise Analysis-City Level compares theavailability of residential properties in five budget ranges in two consecutive quarters: Jul-Sept 2012 and Oct-Dec 2012. It also shows the demand in different categories at the city level.The second graph - Property Wise Analysis- City Level depicts how demand and supply statisticsfor different property types have changed over a period of six months at the city level. Finally, thedemand and supply of 1, 2, 3, 4 BHK apartments at the city in two consecutive quarters namelyJul-Sept 2012 and Oct-Dec 2012 is depicted by the third graph - Budget Configuration-City Level. It depicts how the buyer preferences have changed over the last six months and compares theavailability of these units in the two quarters.
BUYER DEMAND ANALYS I S - G h a z i a b a d
ANNExURES
NOIDASector 143A 3800 to 4300
Sector-1 2850 to 3200
Sector-21 6500 to 7600
Sector-25 6950 to 8250
Sector-25A 7150 to 8750
Sector-29 6700 to 8600
Sector-30 6750 to 7650
Sector-32 7300 to 8150
Sector-34 6350 to 7750
Sector-37 6650 to 8950
Sector-44 9150 to 12400
Sector-45 5650 to 6350
Sector-46 4550 to 5050
Sector-50 7150 to 8650
Sector-53 5250 to 6400
Sector-61 6600 to 7900
Sector-62 5700 to 6850
Sector-70 5000 to 5500
Sector-71 5350 to 7200
Sector-74 4300 to 4850
Sector-75 4350 to 5000
Sector-76 4500 to 5050
Sector-77 4350 to 4750
Sector-78 4350 to 4900
Sector-79 3800 to 4200
Sector-82 5550 to 6550
Sector-86 3200 to 3900
Sector-92 7200 to 7850
Sector-93 6600 to 8250
Sector-93A 6250 to 7700
Sector-93B 6650 to 7550
Sector-99 4950 to 5750
Sector-100 5000 to 5700
Sector-104 7500 to 8450
Sector-107 4800 to 5900
Sector-108 4400 to 4950
Sector-110 4950 to 5450
Sector-113 3600 to 3950
Sector-117 3850 to 4500
Sector-118 3700 to 4100
Sector-119 4100 to 5050
Sector-120 4500 to 5200
Sector-121 4300 to 4850
Sector-128 5700 to 7750
Sector-129 4050 to 4750
Sector-131 4200 to 5100
Sector-132 3500 to 4000
Sector-133 3800 to 4350
Sector-134 3550 to 4000
Sector-135 3900 to 4600
Sector-137 4450 to 5100
Sector-143 3800 to 4300
Sector-143 B 3850 to 4300
Sector-150 3200 to 3650
Sector-151 2800 to 3150
Sector-168 4350 to 4850
GHAZIABADAnkur Vihar 2550 to 3000
Bhopura 2500 to 3050
Crossings Republik 3050 to 3500
Govindpuram 2600 to 3050
Gyan Khand 1 3900 to 4550
Gyan Khand 2 3950 to 4550
Indirapuram 4750 to 5950
Kaushambi 4850 to 6150
Lal Kuan 1600 to 1950
Mohan Nagar 3450 to 3850
Niti Khand-Indirapuram 3950 to 4650
Pratap Vihar 3300 to 4100
Raj Nagar Extension 2350 to 2850
Ram Prastha 5750 to 7350
Shakti Khand 2 3900 to 4450
Shakti Khand 3 4100 to 4500
Shakti Khand 4 4000 to 4800
Shalimar Garden Extn-1 3200 to 3950
Shalimar Garden Extn-2 3150 to 4000
Vaishali 5300 to 6350
Vasundhara 4600 to 5500
NOIDA-GHAZIABAD 70VOL2, ISSUE 3; OCT-DEC, FY 2012-13
CAPITAL VALUES – LOCALITY WISE
Average Listed Residential Apartment Prices
Locality Capital Values (Rs/Sq feet)
Locality Capital Values (Rs/Sq feet)
NOIDA-GHAZIABAD
D I S C L A I M E REvery effort has been made to make this Index as complete and as accurate as possible. MagicBricksaccepts no responsibility for inaccuracies in the information/data contained in this book. It shall haveneither liability nor responsibility to any person or entity with respect to any loss or damage caused, oralleged to have been caused, directly or indirectly, by the information contained in this book. Theinformation/data in this book is subject to change from time to time due to market condition.
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VOL2, ISSUE 3; OCT-DEC, FY 2012-13DELHI
