FOREWORD - MagicBricksproperty.magicbricks.com/microsite/buy/propindex/images/...real estate activity remained slow in the Jan-Mar 2015 quarter. Absence of any favourable real estate

With PropIndex-Jan-Mar 2015, the index is now four years old. This historicfourth edition of the fourth volume comes with some positive trends.

l Property buyers are actively searching for houses but are looking forbigger units within the same budgets

l In key real estate markets such as Delhi, Mumbai and Pune over 60%localities have witnessed a rise in asking values. This follows a drop invalues over the previous two quarters

l In line with the previous quarter, demand for apartments dropped by up to10% across cities except Bangalore, Coimbatore and Chennai. This gaveway to rise in demand for plotted units and independent houses

l Demand for 3BHK units has gained momentum in stark variance to theprevious quarters where 1 and 2BHKs had been in demand

l Supply has remained stable across cities

l Rental markets remained robust

There was a clear shift in user preferences towards larger housing units.While demand grew for 3BHK units, it dropped for 1 and 2BHK units acrosscities except in Coimbatore and Vadodara. A rise of 3-10 per cent was notedin the demand for 3BHK units across different cities.

Cities with a large volume of value-for-money homes posted better indexvalues. In the Jan-Mar 2015 quarter Noida registered the highest rise of 9 percent while Mumbai recorded the highest drop of 6 per cent.

Rental markets were upbeat across all cities tracked. It was particularlypostive in cities such as Delhi, Mumbai and Pune. Enhanced preference forlarger dwellings was also visible in the increased demand for residentialhouses and plots across different cities. However, buyers seemed unwilling toextend their budget for a larger home. Mid-segment properties priced at Rs40-100 lakh were most preferred.

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

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

FOREWORD

Sudhir PaiCEO, Magicbricks.com

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 over800,000 active propertiesposted by more than1,40,000 active users in300+ cities and 10,000+localities. Our usersinclude owners, agentsand developers.”

Methodology

Apartment values arebased on listings onMagicbricks. Theseinclude multi-storeyapartments 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 top11 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 Jan-Mar 2015quarter from different perspectives – from that of capital appreciation, from a rental/yield realisationperspective and from a supply standpoint. Demand Analysis section also explains what consumers look for.

We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of 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 Oct-Dec 2014 and Jan-Mar 2015 quarters.

7. Editorial Speak – PropIndex has gone from strength to strength – adding more analytics, insights anddiverse views in every edition. To enhance the insights provided by our data PropIndex now includes cityperspectives from editors of Times Property.

GLOSSARY & DEFINITIONS

JAN-MAR 2015

The National Property Index(NPI) remained almost stable inthe past 18 months. During the Jan-Mar 2015 quarter, the NPInoted no change.

NPI is the weighted average ofsupply and values across 11 citiesin India. In this quarter, we haveincluded Vadodara andCoimbatore. Out of the 13 tracked cities, five noted a risein the City Index value between 1-9 per cent. Noida recorded themaximum rise in the City Indexvalue by 9 per cent, followed by 5 per cent in Coimbatore.

Overall active supply dropped by10 per cent across India. Gurgaon,Noida and Mumbai notedmaximum drop in supply.

Rise in the average capital valuesacross cities kept the NPI stable.

Mumbai recorded the maximumdrop of 6 per cent in the CityIndex value and Chennai was thesecond highest by 4 per cent.

Bengaluru, Gurgaon, Hyderabadand Pune City Index value saw nochange in the current quarter.

Mumbai, Bengaluru and Delhicontinued to be the mostpreferred cities for sale and rent.

On the supply side, no major newlaunches were noted across cities.Supply across budget, BHK andproperty type was almost stable incomparison to the last quarter.

Rental market continued toremain upbeat in the last sixmonths. Over 60 per cent localitiesacross the city recorded a rise inthe average rental values.

However, the capital market is yetto see any significant surge. Thereal estate activity remained slowin the Jan-Mar 2015 quarter.Absence of any favourable realestate policy in the budget 2015and no significant cut in theinterest rates by RBI wasattributed to the slow growth inthe real estate market in India.

This has translated into a drop inconsumer sentiments, which is

also reflected in the HousingSentiment Index (HSI) report.Post Budget 2015 sentimentplunged by 29 per cent to HSI 84.Sentiments have been steadilyfalling in the last few quartersafter the election euphoria.

n Property pricedwithin Rs 30-50 lakhrecorded maximumdemand at 28 percent, noting aconsistent rise indemand

n Rental marketsremained upbeatacross cities andcapital valuessurged in NorthIndia

n Units of 3BHKgained preferenceover 2BHK in 9 outof 11 major cities

n Demand for plottedunits went up acrossIndia

n Supply was almoststable across BHKsegments

IN THIS REPORT:

National Property Index...............1

Pune.........................................4

Annexures................................13

Policy Perspective.....................14

NATIONAL PROPERTY INDEX (NPI)

VOL 4, ISSUE 4; JAN-MAR, FY 2014-15

JAN-MAR 2015

propindex.magicbricks.com

Source:Magicbricks.com

NATIONAL PROPERTY INDEX

l Delhi, Gurgaon, Ghaziabad inNCR and Bengaluru in theSouth noted maximum increasein demand for 3BHK categoryby 9-10 per cent from theprevious quarter

l Properties worth up to Rs 70 lakh witnessed a rise indemand by 9 per cent over theprevious quarter

l Bengaluru and Kolkatacontinued to offer highestrental returns on investment

In Ahmedabad no major changewas registered in the residentialsupply. The City Index recorded anominal rise of 1 per cent. ExceptPrahalad Nagar and SP RingRoad, no other locality noted asignificant rise or drop in thesupply. Over 55 per cent of theresidential inventory consists ofapartments priced at Rs 3,000-5,000per sq ft. Areas such as Bopal andGota noted maximum supply.

Almost equal number of localitiesin Bengaluru recorded a rise ordrop in the average capital values.Over 10 per cent drop wasrecorded in the active marketwhich made no change in the CityIndex. Whitefield, Sarjapur Road,Electronic City, Kankapura Road

and Bannerghatta Roadcontributed to almost 30 per centof the total residential supply. Theaverage apartment values alongthese corridors saw a nominalchange within -2 to 3 per cent.

Coimbatore recorded a rise inaverage property values by 2-9 per cent, except in Trichy Roadand Saibaba Colony resulting in arise in the City Index value by 5 per cent and the Listed PriceMonitor by 3 per cent. Majority ofthe localities in the city offeredapartments in the range of Rs 3,500-5,000 per sq ft.

Over 15 per cent drop wasrecorded in Chennai’s activelistings with a 44 per cent drop inthe average capital values of thetracked localities, resulting in a 4 per cent drop in the City Indexvalue. The rental market showedan upward trend. Nearly 75 percent of the tracked localitiesnoted a rise between 1-10 per centin the average rental values.

Delhi City Index rose by 3 per cent and the Listed PriceMonitor by 5 per cent. Almost 60 per cent of the trackedlocalities recorded a rise in theaverage capital values. Rentalmarket outperformed the capitalmarket. Close to 80 per cent

localities noted a rise in theaverage rental values. Almost 60 per cent localities noted a risebetween 1-9 per cent.

Ghaziabad’s active listings ofapartments registered a drop ofover 20 per cent. Close to 50 per cent of the trackedlocalities also witnessed a drop inthe average capital values by 0-4 per cent. As a result, the CityIndex dropped by 3 per cent.Areas offering maximum optionssuch as Indirapuram, Raj NagarExtension and Crossings Republikshowed 0-1 per cent drop inaverage capital values.

In Gurgaon, over 15 per cent dropin active market supply coupledwith a drop in the average capitalvalues arrested the growth of theCity Index. Majority of the

02VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

Locality RankQ4 Q3

Mumbai 1 1

Bengaluru 2 2

Pune 3 3

New Delhi 4 5

Hyderabad 5 4

Chennai 6 6

Kolkata 7 7

Gurgaon 8 8

Noida 9 9

Ahmedabad 10 10

Preferred Cities - Sale

Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014

Preferred Cities - Rent

Locality RankQ4 Q3

Bengaluru 1 1

Mumbai 2 2

Pune 3 3

New Delhi 4 4

Chennai 5 5

Gurgaon 6 7

Hyderabad 7 6

Noida 8 9

Kolkata 9 8

Ahmedabad 10 10Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014

-1%




03VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com

localities noted a rise or drop inthe average capital values between-3 to +3 per cent. Close to 60 percent tracked localities noted a risebetween 1-9 per cent in rentalvalues. Residential developmentsalong Sohna Road and Golf CourseRoad continued to top thepreference chart for twoconsecutive quarters.

Hyderabad recorded a 17 per centdrop in the active supply arrestingthe growth of the City Index andkeeping it stable. Close to 60 percent of the tracked localitiesexhibited an increase in themonthly rentals. Madhapur,Kondapur, Banjara Hills andGachibowli offered the highestnumber of apartments on rent.These are also among the top tenpreferred localities in the city.

A drop of 1-2 per cent was noted inthe supply of properties inKolkata. Almost equal number oflocalities recorded rise or drop inthe average capital values. This ledto a small drop of 1 per cent in theCity Index value and 2 per cent inthe Listed Price Monitor. Over 65 per cent localities recorded arise in the average rental values.Majority of the areas saw a risebetween 2-8 per cent.

Mumbai noted a drop in the activesupply by almost 10 per cent. Thispushed the City Index down by 6 per cent. Over 60 per cent trackedlocalities noted a rise in the

average capital values. Mumbairecorded the maximum rise ordrop in average capital valuesbetween -9 to +7 per cent.Kharghar, Mira Road andGhodbunder Road offeredmaximum options for sale.

Over 40 per cent localities inNoida recorded a rise in averagecapital values between 1-8 per cent,coupled with increase in supplyleading to a 9 per cent rise in theCity Index. Sectors 76, 77, 78 and137 noted maximum options forsale. Sectors 50, 93A and 104offered maximum options for rent.

Almost equal number of localitiesin Pune recorded a rise or drop inthe average capital values andmerely 5 per cent recorded a dropin housing stock, keeping the CityIndex unchanged. In the rentalmarket, over 80 per cent of thetracked localities noted a rise inaverage values. Of which over 50 per cent witnessed a rise inrental values by over 5 per cent.

Majority of the localities inVadodara recorded a rise in theaverage capital values with a smalldrop in supply. This led to amarginal increase in the CityIndex by 1 per cent. However, theListed Price Monitor remainedunchanged. In line with the capitalmarket, rental market also saw arise. Over 90 per cent localitiesregistered increase in valuesbetween 2-10 per cent.

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 Preference30%

25%

20%

15%

10%

5%

0%3%

8%

28%

22%15%

15%9%

TOP YIELD 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

Bengaluru, Hoodi 5.49%Kolkata, Banshdroni 4.77%Hyderabad, Gachibowli 4.72%Delhi, Govindpuri 4.34%Chennai, Sholinganallur 4.11%Pune, Mundhwa 4.04%Ghaziabad, Shakti Khand 3 4.03%Ahmedabad, Prahlad Nagar Extn 3.91%Mumbai, Kanjur Marg East 3.83%Noida, Zeta 1 3.25%Gurgaon, Sector-69 2.70%

CAPITAL GAINS

The table given below indicates maximumincrease in capital values in each city.

Locality % Change

Bengaluru, Silk Board 10.45%

Chennai, Nungambakkam 8.18%

Ahmedabad, Ghatlodia 8.11%

Delhi, Gulmohar Park 7.58%

Hyderabad, Jubilee Hills 6.33%

Pune, Koregaon Park 6.19%

Kolkata, Kestopur 5.89%

Gurgaon , South City II 5.38%

Mumbai, Wadala 5.34%

Noida, Omicron-3 5.20%

Ghaziabad, Mohan Nagar 4.68%



PUNE 04VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

PROPINDEX - PUNE

Realty overdrive in PuneThe last few months have seen anupward movement in the realty sector.The market that picked up during thatphase has continued to move at asteady pace. With the cut in homeloan interest rates in the recent budget,realtors are expecting a surge inproperty in 2015-16.

The mid-segment is continuing toshow an upward movement. Today,with property being the best possibleinvestment option, more and morepeople are moving towards secondhomes. Township projects in Pune areseeing a surge in demand just as theluxury segment, which is moving at asteady pace.

Taking cue from a report by a leadingreal estate research tank, it isimportant to note that in the financialyear 2014-15, nearly 44 per cent ofthe total 55,500 new launches werein the emerging residential areaslocated beyond NH 4 Bypass in theWest. This points that the trend is tomove beyond city limits, whereinfrastructure is evolved andcommuting is not a problem.

All these locations have recorded anincrease of between two and ten percent in capital values during the year.With improving macro-economicconditions, the sales momentum isexpected to pick up in future.

It is safe to say that the last twoquarters of the financial year havebeen good. The positive sentimentswere further optimized by theunexpected rate cuts announced bythe Reserve Bank of India.

Expectations are also rife that theluxury segments will see a freshmomentum. These luxurious projectsare looking beyond basic amenitiesinto state-of-the-art medical andeducational facilities, highly evolvedinternal infrastructure.

In hindsight, the first quarter will see amomentum towards loan seekerslooking to take advantage of theopportunities provided by the budget.

Second homes, will see more takersand with the way infrastructure isprogressing, the fringe areas arebound to see a spurt in realty prices.

[email protected], Times Property, Pune

The Pune City Index remained unchanged in the last threemonths as compared to the 1 per cent rise recorded last quarter.The Listed Price Monitor rose by 2 per cent in the Jan-Mar 2015quarter as compared to the 1 per cent rise recorded in theprevious quarter.

l Almost equal number oflocalities recorded a rise or dropin the average capital values. A marginal drop was recordedin the housing stock which keptthe City Index unchanged

l Kharadi and Wagholi in EastPune, Baner and Wakad in WestPune offered maximum numberof properties on sale. Propertyvalues remained almost stable

l Over 10 per cent of totalproperty supply in Pune waswithin the price range of Rs 3,000-5,000 per sq ft

l Over 80 per cent of trackedlocalities noted a rise in theaverage rental values. Out ofwhich more than 50 per centwitnessed a rise in the lease byover 5 per cent

l Viman Nagar, Kharadi andMagarpatta City offered highestnumber of apartments on lease

l The city offered an averagerental return on investmentbetween 1.52 - 4.04 per cent

l Properties along Prabhat Road,Bhosle Nagar and Model Colonyoffered the lowest rental return

on investment 1.52 - 1.79 percent. This was primarily owingto high capital values per sq ft

l Demand for independent housesand plots went up by 7 and 3 percent, whereas apartments noteda drop of 10 per cent. On thesupply side, independent housesand plots noted a minimal riseor drop of 1 per cent, whereasapartments exhibited no change

l Demand for 2 and 3BHK unitswent up by 6 and 4 per centrespectively. Properties offering1and 4BHK units recorded adrop in demand. However,supply of properties remainedstable across the category

l In spite of a drop in demand for1BHK units, Pune continued towitness a shortage in supply by9 per cent

l Properties worth Rs 40-60 lakhand Rs 60 lakh-Rs 1 crore notedmaximum demand at 30 and 34per cent. Demand was highestfor Rs 60- Rs 1 crore propertiesin South, Central and WestPune. East and North Punerecorded highest demand forproperties worth Rs 40-60 lakh

Key Takeaways

E d i t o r i a l


PUNE05VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com

l The Pune market remained largely positive withnearly 55 per cent of the localities recording a rise incapital values

l Localities in the East and North East such asKalyani Nagar, Viman Nagar and Wanowrierecorded a rise of 4-3 per cent in capital values

l Localities in the West such as Bavdhan, Warje,Wakad and Balewadi recorded a rise of 1-2 per centin values in the Jan-Mar 2015 quarter

l The maximum drop of 5 per cent in capital valueswas noted in Wanwadi. Pashan, Dhanori,Vishrantwadi and Baner Road recorded a drop of 1-2 per cent

L I S T ED PR I CE MON I TOR

Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield

Viman Nagar 20.25 7,360 3.30%Kalyani Nagar 21.75 8,965 2.91%Baner Road 15.25 7,050 2.60%Magarpatta City 19.00 7,610 3.00%Kharadi 14.25 6,120 2.79%Bhosale Nagar 22.00 15,690 1.68%Wakad 13.50 6,060 2.67%Aundh 18.25 8,515 2.57%Mundhwa 17.75 5,270 4.04%Pimple Saudagar 15.00 6,450 2.79%

Y I E L D M E T E R

l The Magicbricks yield meter ranged from 1.68 to4.04 per cent in the Jan-Mar 2015 quarter ascompared to the previous quarter where it rangedfrom 1.70-4.04 per cent

l Mundhwa continued to top the yield meter for thesecond time in a row. Low capital values and highrental values resulted in high yield

l As observed in the last quarter, Viman Nagarcontinued to be the second highest grosser with ayield of 3.30 per cent

l Other localities with a healthy yield wereMagarpatta City, Kalyani Nagar, Pimple Saudagarand Kharadi. These recorded a yield in the rangeof 2.79 to 3.00 per cent

RENT MON I TOR

l The Pune rental market remained upbeat with morethan 80 per cent of the tracked localities posting arise in values in the Jan-Mar 2015 quarter

l Localities in the East recorded the highest rise inrental values within the range of 3-9 per cent

l These localities included Kharadi, Hadapsar,Magarpatta, Wanowrie, Kothrud, etc. Hadapsarposted the highest rise followed by Kharadi

l Localities in the West also recorded a moderate risein values. Rental values rose by 3-6 per cent inlocations such as Kothrud, Bavdhan, Baner Road,Wakad, Baner and Pimple Saudagar during the Jan-Mar 2015 quarter

2%Source:Magicbricks.com Source:Magicbricks.com



PREFERRED LOCALITIES

l IT driven localities continued to be preferred inPune for sale. Wakad moved up to the number onespot displacing Baner in the Jan-Mar 2015 quarter

l Baner settled at number two in the current quarterwith a slight drop in capital values.

l Both Kharadi and Pimple Saudagar retained theirspots at number three and four. Capital values inthese locations remained unchanged

l Eastern localities improved their standings in thelist of preferred localities. Both Viman Nagar andWagholi moved up two spots to settle at number fiveand six respectively

l Hadapsar dropped to number seven in the currentquarter as compared to the sixth spot it occupiedlast quarter. Hinjewadi moved up one spot to settleat number nine

l Kalyani Nagar and Pimpri Chinchwad were newentrants on the list this quarter. These settled atnumber eight and ten respectively

l The top four preferred locations for rent remainedunchanged since the last quarter. Wakad remainedthe most preferred locality for rent

l Viman Nagar, Pimple Saudagar and Kharadiretained their spots at number two, three and four inthe list of most preferred localities for rent

l Kalyani Nagar gained popularity as a rentaldestination. It jumped up five positions to settle atnumber five in the Jan-Mar 2015 quarter

l Baner dropped to number six as compared to thefifth spot it occupied in the last quarter

l Both Magarpatta City and Kothrud dropped threespots on the list in the current quarter. WhileMagarpatta City settled at number nine, Kothurdstood at number ten

l Aundh retained its spot at number eight whileHadapsar moved up two spots to settle at numberseven. It witnessed a rise of 9 per cent in capitalvalues in the last six months

RENT


Locality Rank Capital %ageQ4 Q3 Values change

Wakad 1 2 5690 to 6720 1%

Baner 2 1 6560 to 8030 -1%

Kharadi 3 3 5690 to 6900 0%

Pimple Saudagar 4 4 6080 to 7120 0%

Viman Nagar 5 7 6810 to 8350 4%

Wagholi 6 8 4070 to 4990 1%

Hadapsar 7 6 5060 to 6700 8%

Kalyani Nagar 8 - 8090 to 10550 3%

Hinjewadi 9 10 5120 to 6320 -1%

Pimpri Chinchwad 10 - 5130 to 6540 5%

SALE


Locality Rank Rental %ageQ4 Q3 Values change

Wakad 1 1 12000 to 15000 4%

Viman Nagar 2 2 17500 to 23000 5%

Pimple Saudagar 3 3 13500 to 16500 3%

Kharadi 4 4 12500 to 16000 8%

Kalyani Nagar 5 10 18500 to 25000 2%

Baner 6 5 13000 to 16500 4%

Hadapsar 7 9 12500 to 17000 9%

Aundh 8 8 16000 to 20500 4%

Magarpatta City 9 6 16500 to 21500 6%

Kothrud 10 7 16000 to 20500 6%

Shirwal-Satara, Uruli Kanchan, Ranjangaon, Shikrapur

Home in your Budget

Upto Rs 20 Lakh

l Shirwal-Satara, Uruli Kanchan,Ranjangaon, Shikrapurwitnessed high supply ofproperties in the up to Rs 20 lakh budget category

l Properties in the mostpreferred budget category of Rs 60 lakh-Rs 1 crore wereavailable in Wakad, Kharadi,Balewadi and Hinjewadi

l Properties worth Rs 1 crore andabove were available in KalyaniNagar, Viman Nagar andKoregaon Park

Wagholi, Talegaon Dabhade , Moshi, Dighi, Ambegaon Rs 20-40 Lakh

Hadapsar, Undri, Ravet, Punawale, Dhanori, Kondhwa Rs 40-60 Lakh

Wakad , Kharadi, Balewadi, Hinjewadi, Pimple SaudagarRs 60-100 Lakh

Baner, Kalyani Nagar , Magarpatta City, Viman Nagar Rs 1 Crore & Above

Source:Magicbricks.com Source:Magicbricks.com



Budget wise Analysis

l Properties in the price bracket ofRs 60 lakh-Rs 1 crore were the mostpreferred with 34 per cent buyerdemand. This was a rise of 4 percent from the Oct-Dec 2014 quarter.Supply, at 33 per cent, kept pacewith demand in the segment

l Properties priced above Rs 1 croreremained oversupplied by 10 per cent. A healthy demand of 30 per cent was recorded in the Rs 40-60 lakh category as well

DEMAND - S UPP LY ANALYS I SBuyer preference towards smaller residential units witnessed a drop in the Jan-Mar 2015 quarter.Demand for 1BHK units registered a drop by 9 per cent when compared to the Oct-Dec 2014quarter. Low demand and supply of properties priced below Rs 20 lakh was also an indication tothis. Premium properties priced above 1 crore remained oversupplied in the city. Supply matcheddemand in the Rs 20-40 lakh range.

Even though apartments were the most supplied property type, it witnessed a drop in buyerdemand in the current quarter. Buyer preference shifted towards residential houses and plotteddevelopments. However, supply in the two segments remained significantly low at 5 per cent each.

Property wise Analysis

l Apartments continued to be themost preferred property type in thecity in the Jan-Mar 2015 quarter.However, demand in the categorywitnessed a drop of 10 per cent tosettle at 72 per cent in the currentquarter. Supply, however, stoodstable at 90 per cent

l Demand for residential housesgrew by 7 per cent in the currentquarter. It settled at 17 per centwhile supply in the segment laggeddemand by 12 per cent

BHK wise Analysis

l The 2BHK category continued to bethe most preferred category withover 50 per cent demand. Demandgrew by 6 per cent in the Jan-Mar2015 quarter to settle at 53 per cent.Supply stood almost unchanged at47 per cent

l Demand for 3BHK units grew by 4 per cent. A significant drop ofalmost 10 per cent was noted in thedemand for 1BHK units. It settledat 25 per cent as compared to the 34 per cent noted last quarter

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

2Figures in pe

rcenta

ge(%)

Figures in Rs lakh

2

23

17

30 30 3034

15 17

(Oct-Dec 2014)(Jan-Mar 2015)

Budget wise Analysis - City Level

DEMAND

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

3Figures in pe

rcenta

ge(%)

Figures in Rs lakh

3

17 1620 21

34 33

26 27


SUPPLY

BHK wise Analysis - City Level

60

50

40

30

20

10

0

34

25

47

53

1620

3 2


Figures in pe

rcenta

ge(%)

1BHK 2BHK 3BHK 4BHK &above

DEMAND SUPPLY60

50

40

30

20

10

0

17 16

46 47

29 29

8 8


Figures in pe

rcenta

ge(%)

1BHK 2BHK 3BHK 4BHK &above

Property wise Analysis - City Level

100

80

60

40

20

0

82

72

1017

8 11


Figures in pe

rcenta

ge(%)

Apartment Residential House Residential Plot

DEMAND100

80

60

40

20

0

90 90

6 5 4 5


Figures in pe

rcenta

ge(%)

Apartment Residential House Residential Plot

SUPPLY

Source:Magicbricks.comSource:Magicbricks.com



A significant 60 per cent of the total supply in the market was concentrated on propertiesin the budget range of Rs 60 lakh and above. However, demand (59%) was largelyconcentrated for properties in the budget range of Rs 40 lakh-Rs 1 crore.

Smaller units (1BHK) witnessed a drop in demand in the current quarter. A drop of 8 per cent was noted in the segment while supply also dropped by 3 per cent to settle at 16 per cent. The 2BHK category was most preferred by buyers forming more than 50 per cent of the total demand in the current quarter.

BHK wise Analysis


Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60-100 lakh

Rs 1 crore and above

DEMAND SUPPLY

DEMAND SUPPLY

Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


94


l South Pune witnessed maximum supply of properties in the rangeof Rs 1 crore and above. It stood at 36 per cent, 4 per cent higher thanthe last quarter. However, demand lagged supply by a notablemargin of 16 per cent

l The budget most in demand was that of Rs 60 lakh- Rs 1 crore.Demand in the segment grew by 3 per cent to settle at 32 per cent.However, supply at 24 per cent lagged demand by 8 per cent

l Demand of 27 per cent was noted for properties in the range ofRs 40-60 lakh. However, supply, at 19 per cent, fell short of demand by 8 per cent

DEMAND & SUPPLY - South Pune


l South Pune also recorded a notable drop in the demand forapartments. As compared to the 84 per cent demand noted in the lastquarter, in the Jan-Mar 2015 quarter demand dropped to 73 per cent.Supply too dropped by 5 per cent to settle at 84 per cent

l Demand for residential houses grew by 7 per cent in the currentquarter. It settled at 16 per cent as compared to the 9 per cent notedlast year. Supply, however, was much lower at 3 per cent

l Both demand and supply for residential plots witnessed a rise in thecurrent quarter. While demand in the segment grew by 4 per cent,supply grew by 7 per cent

BHK wise Analysis

l The 2BHK units were the most popular among buyers in SouthPune. The category witnessed a growth of 5 per cent in demand inthe Jan-Mar 2015 quarter. Demand in the segment settled at 52 per cent. Supply stood stable at 43 per cent

l Both demand and supply of 1BHK units witnessed a drop in thecurrent quarter. While demand dropped by 8 per cent to settle at 24 per cent, supply came down by 3 per cent to settle at 16 per cent

l Larger units were oversupplied in the zone. Both 3 and 4BHK andabove category noted excess supply of 8 and 9 per cent respectively

Q3 Q4

24 19

29

26

19

27

32

20Q3 Q4

17 15

27

19

32

19

24

36

Q3 Q4

84

73

Q3 Q4

8984

Q3 Q4

5247

3224

18 19

Q3 Q4

4343

19 16

27 27

11 14

Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)Apartment

Residential house

Residential plot

7 119

6

16

13

6




North Pune witnessed increased demand for residential houses and plots overapartments. Both categories recorded a rise of 6 per cent each in demand in the Jan-Mar 2015 quarter.

The zone also displayed a negative trend for smaller housing units. Demand dropped by 10 per cent for 1BHK units. A drop in demand was also noted for properties priced at Rs 20-40 lakh. Demand dropped from 33 per cent to 24 per cent. The 2BHK categorycontinued to be the most preferred segment with 58 per cent demand.

BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60-100 lakh


DEMAND SUPPLY

DEMAND SUPPLY


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY



l A rise of 5 per cent was noted in the demand of properties priced atRs 40-60 lakh. Demand settled at 42 per cent, 12 per cent higher thanthe existing supply in the segment

l Demand dropped considerably for properties in the budget range ofRs 20-40 lakh. As compared to the 33 per cent demand noted lastquarter, it settled at 24 per cent in the Jan-Mar 2015 quarter. Supplystood at 28 per cent

l Properties priced between Rs 60 lakh-Rs 1 crore were alsooversupplied in the market. While supply in the segment stood at 27 per cent, demand was 4 per cent lower at 23 per cent.

DEMAND & SUPPLY - North Pune


l North Pune recorded the lowest demand for apartments in the city.Demand in the segment settled at 68 per cent in the Jan-Mar 2015quarter as compared to the 80 per cent noted in the last quarter.Supply inched up by 2 per cent to settle at 93 per cent

l Demand grew by 6 per cent for residential houses. As compared tothe last quarter where demand was 10 per cent, it settled at 16 per cent in the current quarter. Supply remained subdued

l A growth in demand was also noted for plotted developments. It alsostood at 16 per cent in the current quarter, a rise of 6 per cent fromthe last quarter

BHK wise Analysis

l North Pune recorded the highest demand for 2BHK units. Ascompared to the Oct-Dec 2014 quarter demand grew by 9 per cent inthe Jan-Mar 2015 quarter to settle at 58 per cent. Supply stoodunchanged at 55 per cent

l The 1BHK segment, the second most supplied category in the zone,witnessed a drop in buyer interest during the current quarter. Itdropped by 10 per cent to settle at 31 per cent

l Demand for 3BHK units inched up marginally by 1 per cent to settleat 10 per cent. Supply in the segment led demand by 6 per cent. Bothdemand and supply was low for the 4BHK and above category

Q3 Q4

2433

37 42

21 23

Q3 Q4

2827

30 30

27 27

10 11

8068

Q3 Q4

91 93

Q3 Q4

Q3 Q4

49

41

9 10

31

Q3 Q4

55 55

23

18 16

25


Residential house

Residential plot

10

10 16

16

8

58

6

6




Apartments continued to be the most supplied property type in the zone. However, the segment seemed to be losing preference among buyers. Buyer demand clearly shiftedtowards residential houses and plots from apartments with both witnessing a rise duringthe Jan-Mar 2015 quarter.

Demand for 2BHK registered a rise. Demand dropped for 1BHK units recording a drop of 8 per cent. However, it still led supply in the segment. Supply exceeded demand by a largemargin with reference to premium properties.



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60-100 lakh


DEMAND SUPPLY

DEMAND SUPPLY



l Supply in different budget ranges stood almost unchanged in thelast six months. With 43 per cent supply, the Rs 60 lakh-Rs 1 crorecategory was the most supplied. Demand in the segment was alsothe highest at 41 per cent. This was a rise of 6 per cent from theprevious quarter

l Properties priced above Rs 1 crore were oversupplied. Whiledemand grew to 17 per cent, supply stood unchanged at 28 per cent

l Demand dropped slightly for the Rs 40-60 lakh category. It still ledthe supply by a margin of 10 per cent. Almost negligible demandand supply was noted for affordable properties priced below Rs 20 lakh

DEMAND & SUPPLY - West Pune


l More than 90 per cent of the supply in the market was forapartments. However, demand in the segment witnessed a drop inthe Jan-Mar 2015 quarter. Demand fell from 84 per cent in the lastquarter to 75 per cent in the current quarter

l A notable rise of 6 per cent was recorded in the demand forresidential houses in the current quarter. Demand in the segmentgrew from 9 per cent to 15 per cent. However, supply fell short by 10 per cent and stood at 5 per cent

l Demand for residential plots also witnessed a positive trend. Itinched up by 3 per cent in the current quarter to settle at 10 per cent

BHK wise Analysis

l A significant rise of 6 per cent was noted in the demand for 2BHKunits during the Jan-Mar 2015 quarter. Demand in the categorysettled at 54 per cent as compared to the 48 per cent demandrecorded in the last quarter. Supply stood at 46 per cent

l On the other hand, demand dropped by 8 per cent for 1BHK units. Itdropped from 32 per cent in the Oct-Dec 2014 quarter to 24 per centin the current quarter. Supply was 10 per cent lower at 14 per cent

l The 3BHK units remained oversupplied by 12 per cent even thoughdemand increase marginally in the current quarter. Demand stoodat 20 per cent while supply was at 32 per cent

Q3 Q4

1320

30

35 41

28

1714Q3 Q4

1010

17

43 43

18

2828

84

75

Q3 Q4

91 91

Q3 Q4

BHK wise Analysis

DEMAND SUPPLY


2 BHK

3 BHK

4 BHK & above

Q3 Q4

48 54

32

17 20

24

Q3 Q4

46 46

14

32 32

14

88


Residential house

Residential plot

7 109

15




Both 2 and 3BHK units witnessed a rising demand in East Pune. More than 50 per centdemand was recorded for 2BHK units which was a 5 per cent rise from the last quarter. 20 per cent demand was noted for 3BHK units. Buyers moved away from smaller units(1BHK) which posted a drop of 8 per cent in demand.

More than 50 per cent of the market supply was concentrated on properties priced aboveRs 60 lakh. Demand, on the other hand, was inclined towards properties in the budgetrange of Rs 40- 60 lakh.

BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60-100 lakh


DEMAND SUPPLY

DEMAND SUPPLY


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY



l Over 20 per cent supply was noted in all the budget ranges except forproperties priced below Rs 20 lakh. The most supplied category wasthe Rs 60 lakh-Rs 1 crore range with 28 per cent availability. It wasfollowed by the Rs 1 crore and above category clearly indicatingdominance of premium properties

l Demand, however, was maximum for mid-range properties priced atRs 40-60 lakh. It stood at 31 per cent as opposed to the 22 per centsupply noted for the same

l Demand almost matched supply in the Rs 60 lakh-Rs 1 crorecategory at 27 per cent. Demand dropped for Rs 20-40 lakhproperties, which was at 23 per cent while supply was at 21 per cent

DEMAND & SUPPLY - East Pune


l As observed in the last quarter, apartments continued to dominatethe market supply in the zone with 90 per cent availability. While itwas the most preferred category, demand in the segment saw a dropof 10 per cent in the Jan-Mar 2015 quarter

l Residential houses witnessed a substantial growth in demandduring the current quarter. Demand in the segment jumped from 10 to 19 per cent. However, supply was significantly low at 4 per cent

l A marginal rise was noted in the demand and supply of plots in EastPune. While demand inched up by 1 per cent to settle at 10 per cent,supply moved up by 2 per cent to 6 per cent

BHK wise Analysis

l The 3BHK category saw a rise in demand in the Jan-Mar 2015quarter. Demand moved up by 5 per cent to settle at 20 per cent.Supply in the segment stood unchanged at 27 per cent

l The 2BHK category also witnessed a growth in demand in thecurrent quarter. It moved up by 3 per cent to settle at 51 per cent. Itwas the most supplied category with 48 per cent availability

l Demand dropped for 1BHK units. It dropped from 35 per cent in thelast quarter to settle at 27 per cent in the current quarter. Supplystood almost stable at 18 per cent. Larger housing formats wereoversupplied in the market

Q3 Q4

2923

25

29 31

27

14 17Q3 Q4

22 21

29

21 22

28

23 24

8171

Q3 Q4

90 90

Q3 Q4

Q3 Q4

48 51

15

3527

20

Q3 Q4

48 48

27

19 18

2776


Residential house

Residential plot

109 10 6 6

19




Premium properties were most common in Central Pune. Properties priced at Rs 1 croreand above recorded over 40 per cent supply in the zone. Both demand and supply wasalmost negligible for properties priced below Rs 20 lakh.

Apartments were the most supplied property type in the zone forming 90 per cent of thetotal supply in the market. Even though the segment witnessed a drop in demand, itremained the most preferred category. Demand grew for 3BHK units settling at 23 per centas compared to the 19 per cent noted in the last quarter.

BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60-100 lakh


DEMAND SUPPLY

DEMAND SUPPLY


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY



l Premium properties priced above Rs 1 crore were the most suppliedin the Central Pune. A notable rise of 7 per cent was recorded in thesupply of these units which settled at 42 per cent. Demand was waylower at 24 per cent

l The most preferred category was the Rs 60 lakh-Rs 1 crore range.Demand in this segment grew marginally by 3 per cent to settle at 32 per cent

l A healthy demand of 27 per cent was also noted for properties in thebudget range of Rs 40-60 lakh. However, supply fell short of thedemand by 9 per cent to settle at 18 per cent

DEMAND & SUPPLY - Central Pune


l More than 70 per cent demand was recorded for apartments.However, this was a 11 per cent drop from the last quarter. Supplystood almost unchanged at 90 per cent

l Remaining 10 per cent of the supply was equally divided betweenresidential houses and plots. Plots witnessed a rise of 2 per cent insupply from the last quarter

l Demand witnessed a rise in both residential houses as well as plots.While a rise of 6 per cent was recorded in the demand (19%) forhouses, plots saw a rise of 5 per cent in demand. It settled at 10 per cent in the current quarter

BHK wise Analysis

l Demand for 2BHK units stood unchanged at 46 per cent making itthe most demanded category. Supply witnessed a slight drop of 2 per cent from the last quarter to settle at 40 per cent

l Both demand and supply for 1BHK units dropped. While demanddropped by 5 per cent to settle at 27 per cent, supply dropped by 4 per cent to settle at 13 per cent

l An oversupply of 11 per cent was recorded for 4BHK and abovecategory in the Jan-Mar 2015 quarter. While demand was low at 4 per cent, supply moved up 5 per cent to settle at 15 per cent inCentral Pune

Q3 Q4

1520

29

29 32

27

2420Q3 Q4

14

18

3128

18

4235

7182

Q3 Q4

9092

Q3 Q4

Q3 Q4

4646

27

2319

32

Q3 Q4

4042

13

3231

17

10 15


Residential house

Residential plot

13

10

1910



CAPITAL VALUES – LOCALITY WISE

Average Listed Residential Apartment Prices

Akurdi 5080 to 6210

Ambegaon 4590 to 5770

Aundh 7790 to 9820

Balewadi 6200 to 7320

Baner 6560 to 8030

Baner - Pashan Link Road 6940 to 8150

Baner Road 6570 to 7910

Baner-Balewadi Road 6640 to 7700

Bavdhan 6230 to 7400

Bhugaon 5060 to 5960

Bibwewadi 6870 to 8780

Boat Club Road 13670 to 17320

BT Kawade Road 6230 to 7470

Chakan 2980 to 3630

Chikhali 3960 to 4880

Chinchwad 5350 to 6610

Dhanori 4530 to 5500

Dighi 3650 to 4590

Erandwane 11730 to 14790

Fatima Nagar 5480 to 6980

Hadapsar 5060 to 6700

Handewadi Road 4290 to 5100

Hinjewadi 5120 to 6320

Kalyani Nagar 8090 to 10550

Karve Nagar 7580 to 9870

Kaspate Vasti 5710 to 6600

Katraj 4370 to 5700

Katraj Kondhwa Road 4390 to 5530

Keshav Nagar 4660 to 5680

Kharadi 5690 to 6900

Kondhwa 4760 to 5970

Kondhwa Budruk 4300 to 5430

Koregaon Park 9600 to 12760

Kothrud 8250 to 10680

Lohegaon 3950 to 4850

Lulla Nagar 7310 to 9090

Magarpatta City 7050 to 8610

Manjri 4640 to 5470

Model Colony 14370 to 17190

Mohammed Wadi 4620 to 5670

Moshi 4020 to 4920

Mundhwa 4820 to 6080

Nagar Road 4410 to 5760

Narhe 4450 to 5390

NIBM Annexe 5140 to 6420

NIBM Road 5620 to 6790

Pashan 6320 to 7620

Pashan-Sus Road 5970 to 7220

Phase 1 5680 to 6920

Pimple Gurav 5740 to 7000

Pimple Nilakh 6330 to 7440

Pimple Saudagar 6080 to 7120

Prabhat Road 16530 to 19560

Punawale 4840 to 5610

Rahatni 5250 to 6320

Ravet 5040 to 6020

Salunkhe Vihar 5500 to 6820

Sinhgad Road 5690 to 7280

Sopan Baug 9170 to 11570

Talegaon Dabhade 3370 to 4180

Tingre Nagar 4690 to 6040

Undri 4460 to 5490

Viman Nagar 6810 to 8350

Vishrantwadi 5260 to 6790

Wadgaon Sheri 5900 to 7250

Wagholi 4070 to 4990

Wagholi Nagar Road 4150 to 5060

Wakad 5690 to 6720

Wanawari 6340 to 7960

Warje 6070 to 7280

Locality Capital Values (Rs/Sq feet)

Locality Capital Values (Rs/Sq feet)

PUNE


POLICY PERSPECTIVE14

VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

P O L I C Y P E R S P E C T I V E

Delhi government to build 27,000 flats for EWS, LIGDelhi government is planning to build 27,000 flats foreconomically weaker section (EWS) and low income group(LIG). The project is in the initial stage and is being drafted bythe Delhi Urban Shelter Improvement Board (DUISB). Theproposal aims at making 27,000 flats under Self FinancingScheme (SFS) in Bhalswa and Savda Ghevra area of Mundkain west Delhi. According to the proposal, the flats will beaccommodated in 14-storey towers with maximum area of1,000 sq ft. The proposal will be tabled before the cabinet forfurther approval.

n Economic Times

Metro connectivity may push realtyMetro connectivity in Delhi NCR is expected to give a push tothe real estate pockets. Recently where South Extension sawthe trail run of the metro in the Haryana state budget, theFaridabad metro link is predicted to function from this year.With the government’s monetary push as declared in the statebudget, the NCR residents have welcomed the announcementwith rejoice. In fact, not just the Faridabad metro but theBahadurgarh link also got monetary allocation and isscheduled to be completed by April 2016. Once completed,Faridabad would also be one of those nodes of NCR that canboast about metro connectivity. Initially, the metro is beingextended to areas such as Sarai, NHPC Chowk, MewalaMaharajpur, Bata Chowk, amongst others.

n Magicbricks Bureau

DELHI

Over 31k affordable flats in GurgaonThe Haryana government said on March 11 Gurgaon's realtyspace has provisions for 31,736 flats in the economicallyweaker section (EWS) and affordable housing categories andasked realtors for a status report on such houses in the city.

The 31,736 flats that are to be built in the EWS and affordablecategories are a part of 208 group housing colonies for whichthe government has approved building plans. Of these, a totalof 7,478 flats have already been allotted. Besides, thegovernment also plans to set aside 7,064 plots for EWS andaffordable housing, 4,556 of which have already been allotted.

n The Times of India

House tax waived from 2008-10 in GurgaonThe MCG has decided to waive property tax for the financialyears 2008-09 and 2009-10. The relief will be provided to self-occupied residences with owners who do not have anypending dues till 2008. According to MCG, property taxes ofthose who have already paid for the said period will beadjusted against future payment. The councillors havedemanded that residents of self-occupied houses be providedrelief for these two years and we have consequently decidedagainst the tax, provided they fulfil the criteria mentioned.Owners must give in writing that they have not leased theirproperty. This document need not be an affidavit but can be aself-attested letter. If somebody has already paid the tax forthis period, it will be adjusted.


GURGAON

7,400 cr infra plans for GB Nagar Chief minister Akhilesh Yadav has unveiled an "impetuspackage" for infrastructure projects worth Rs 7,400 crore inNoida and Greater Noida. While Noida has prepared a list ofprojects worth over Rs 5,000 crore, Greater Noida's list totalsprojects valued at nearly Rs 1,500 crore. The YamunaExpressway Industrial Development Authority (YEIDA)'s listincludes projects totaling Rs 900 crore. These projects includesubstations, multi-level car parking facility, proposed super-speciality child hospital and postgraduate institution besidesupgrade in traffic and road facilities, including flyovers,elevated roads, bridges and underpasses, sewage treatmentplants, police and fire stations and solar plants. Consideringthis, the real estate market of Noida and Greater Noida isexpected to pick pace soon.

n ET.com

Greater Noida set for 2 new Metro routesThe Noida Authority is set to finalize the detailed projectreport (DPR) for two new Metro routes in March. The tworoutes will bring Greater Noida and Noida Extension closer toDelhi. The plan is to extend the Metro network from NoidaSector 71, while covering various parts of Noida, GreaterNoida and Noida Extension. Another extension, will link Line8 (Janakpuri West-Botanical Garden) of DMRC's Phase-IIIthrough a proposed station at Kalindi Kunj to Sector 143.


NOIDA

Six-lane elevated highway gets a nod from GDAThe state government gave an impetus to infrastructuredevelopment in the NCR cities, particularly Ghaziabad, byallocating funds for the extension of Delhi Metro's Red linefrom Dilshad Garden and promising to develop a couple ofindustrial clusters in Greater Noida. The state govt alsoapproved the implementation of a six-lane, 10.3km elevatedhighway from UP gate to Raj Nagar Extension, which wasannounced by the GDA last year. A budget of Rs 1,838 crorewas approved by the government for the implementation ofthe 11-km-long Metro line from Dilshad Garden in Delhi toNew Bus Stand in Ghaziabad. The GDA board had inDecember approved the Rs 2,210-crore Metro expansionfollowing a revised project report presented from the DelhiMetro Rail Corporation.


Ghaziabad gets 448 crore civic push The Ghaziabad Municipal Corporation (GMC) approved abudget of Rs 1,054 crore. This comprises a proposedexpenditure of Rs 448 crore. A major chunk of the proposedexpenditure, Rs 62 crore, was earmarked for variousdevelopment works such as construction and maintenance ofinternal roads, maintenance of parks, and construction ofstormwater drains and so on. How it will impact the realestate market will have to wait and watch!


GHAZIABAD


VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com


Now, no stamp duty on transfer of flat, land to heirsImmovable property — land, house or flat — can now betransferred to one's children or blood relatives without payingstamp duty for registration. This will come as a major reliefas families won't have to pay a 5 per cent of the ready reckonerrate of the property as stamp duty. Making the announcement,the Maharashtra government said an affidavit on a Rs 100stamp paper would suffice. He later changed it to Rs 500 as thegovernment no longer deals in Rs 100 stamp paper forproperty matters. In other decisions announced, those with500sq ft or smaller homes do not have to pay the increasedproperty tax and the government will allow twice the transferof development rights to a landowner in lieu of landsurrendered for a public amenity.n The Times of India

Unauthorized constructions to be regularizedUnauthorized constructions gets a ray of hope. Theconstructions over and above permissible limits may get reliefto some extent, albeit subject to certain conditions, asgovernment has formed a committee to suggest ways on thelines of the policy already firmed up to 'compound' suchconstructions in rural areas. Rao revealed that theestablishment of National Law University at Mumbai hadalready been notified by the government and the Vice Chancellor had been appointed.

n Magicbricks.com Bureau

MUMBAI

Now, paying your property tax is just a click awayThe Pune Municipal Corporation (PMC) has developedpmcconnect.in, a web-based application, to facilitate overseven lakh property owners in the city to pay their propertytaxes online. It is a self-service solution which will helpcitizens to manage the details of their online transactions.Once registered, citizens can view and pay their bills and alsoraise and track service requests. The system is integratedwith the PMC's property tax website and will allow citizens to add their details like email ID and phone numbers in the system.


Pay more to transfer property in city limitsWith the standing committee approving the proposal to hikethe charges, transferring a property will be costlier in thePune Municipal Corporation'slimit. Most transfers are donein the 'open occupancy' and 'transfer of property to heir'category.��Transfer charges depend on the property tax. Thefees to transfer a property which has an annual tax up to Rs500 is Rs 500. These fees will be increased to Rs 1,000. �If theproperty tax is over Rs 500, then the civic administrationcharges an additional fee of Rs 15 for every Rs 100. Propertyowners will have to pay fees for any changes or correction inthe names of owners. However the increase in charges totransfer a residential property to a family member has beencancelled.


PUNE

Ahmedabad Metro gets PM nod The Union Cabinet chaired by the Prime Minister, gave itsapproval for Ahmedabad Metro Rail Project Phase-1 coveringa length of 35.96 km at a total project cost of Rs 10,773 crore.Phase-1 will cover a length of 35.96km along two corridors viz.North-South Corridor covering 15.42 km from APMC toMotera Stadium and East-West Corridor covering 20.54 kmfrom Thaltej Gam to Vastral Gam. Project to be implementedby Metro-Link Express for Gandhinagar and Ahmedabad(MEGA) Company Ltd., which will be converted into a 50:50jointly owned company of the Government of India and Govt.of Gujarat. The proposed two alignments are expected toprovide much needed connectivity to the commuters.

n Magicbricks.com Bureau

New policy to quicken riverfront land acquisitionA new policy for those whose land falls within SabarmatiRiverfront Development (SRFD) Plan has been formulated. InSRFD plan, road is proposed on both the banks. Some privateplots on the river banks fall within the proposed road. To takeover the possession of the land from owners, SRFDCL hasoffered the benefit of built-up area and FSI of land acquiredshall be given on the remaining plot of land; and some part ofthe plot goes into the project boundary and the rest allocatedto the owner. In such cases, after deducting the residual landfor project boundary, on the remaining part the owner wouldget benefits of built-up and FSI in deducted plot.


AHMEDABAD

12 smart cities to come up at ports The government is working on a plan to build one smart cityeach at the country's 12 major ports, at an estimated totalinvestment of Rs 50,000 crore. This includes Kolkata too. Eachport will construct one smart city. We are trying to do this.Each city will be built with an expenditure of about Rs 3,000-4,000 crore. These will be green smart cities. The governmentis starting work on these in four to six months and is expectedto be completed o five years. Apart from Kolkata port, the 11other major ports in the country - Kandla, Mumbai, JNPT,Marmugao, New Managlore, Cochin, Chennai, Ennore, V OChidambarnar, Visakhapatnam and Paradip. These cities willhave wide roads, green energy, advanced townships andgreenery, schools, commercial complexes and other amenities.

n Economic Times

Leasehold land transfer to family made easierThe state government has made transfer of leaseholdproperties within blood relations in townships will be easierwith a nominal transfer fee and hassle-free processing system.As in all leased holdings, one needs to take prior permissionfrom the authority who had leased the land. In quite a fewoccasions, the development authorities used to charge highamount of transfer fees and the process was also time-consuming. To make the process easier, the transfer ofleasehold land within blood relations will be allowed against aminor processing fee of Rs 1,000.


KOLKATA




Online property tax payment without transaction feeChennaiites can now pay property tax online onwww.chennaicorporation.gov.in by using the online paymentgateway services of ICICI Bank without any transaction fee.Earlier, a tax payer had to pay a transaction fee to the bank forthe online payments made through credit and debit cards andnet banking. The online payment facility is particularlyhelpful for people who have properties in the city but work orlive abroad. The civic body has extended various modes ofpayments to the tax payers. They include collection countersat headquarters, zonal offices, divisional offices, direct bankwalk in payment and online payment facility.


Rs 400cr for smart city infra projects The state government have recently set the ball rolling forCentre's smart cities scheme. It announced `400 crore inanticipation of the Centre's approval for inclusion of 12municipal corporations in the state in the scheme. TheCentre's programme envisages creation of 100 smart cities.The Centre is yet to take a call. The government has allotted`500 crore under Chennai Mega City Development Mission and`750 crore under Integrated Urban Development Mission forthe fourth successive year. At least 1,084 water supply projectsand 74 underground sewerage schemes, besides 3,304km ofroads have been taken up under these schemes in the state.Most of them are in various stages of completion.


CHENNAI

Telangana Budget 2015: Real estate perspectiveIn the state Budget 2015-16, in the total of Rs 1, 15689 crorebudget, state’s finance minister tried to touch every aspect ofthe state work, including the reviving real estate market.

Greater Hyderabad Municipal Corporation (GHMC),Hyderabad Metro Rail (HMR) and Hyderabad MetropolitanWater Supply and Sewerage Board (HMWSSB) received Rs 526crore, Rs 416 crore and Rs 1,000 crore respectively. In additionto it, the government has also earmarked Rs 1,000 crore for2015-16 for the 2BHK housing scheme to the poor, Rs 1,600crore have been allocated for the development of flyoverswhile Rs 4,980 crore has been sanctioned for the constructionof roads and buildings in the state.


Penalty amount reduced for land regularizationTelangana government has reduced the amount of penalty forregularizing government land encroached by privateindividuals. The move came in the wake of poor response tothe land regularization scheme and several representations tothe government from potential beneficiaries seekingreduction in the penal amount. With regard to regularizationof land up to 125 square yards, it would be done withoutcollecting any penal amount. However, if a case comes up in anotified slum where more than 125 sq yards are sought to beregularized, the applicant will have to pay 10 per cent of theregistration fee for the excess land.

n Times of India

HYDERABAD

Promise of Rs 4,700 cr good news for home buyers?Of the Rs 1, 42,534 crores of consolidated funds, approximatelyRs 4,700 crore is set aside for Bengaluru city. Although much ofthe State Budget revolved around social welfare, real estateneedn’t look down. If housing were to be our sole concern,here are the highlights- The Karnataka government is set torevamp the fate of housing in the state. Not only does itconcentrate on the benefits for the have-not’s with over 20,000sites to be distributed for such beneficiaries, there is emphasison formulation of slum development policies and provision ofaffordable houses. For the ones who can manage to own ahouse, there is good news. The city can expect simplificationof housing related laws, rules and procedures. What exactlywould this compromise, only time can tell.


Soon, no residences in Bengaluru's industrial zonesAfter facing plaints from industrial bodies on big apartments,residential layouts and individual houses creating problemsfor them, the state government is all set to remove "deemedresidential status" given to owners of the plot in industrialzones. Deemed status allowed the owners of plots in the areaearmarked for industries to automatically build apartments orhousing layouts without seeking a conversion or change ofland use for "residential" purpose from the competentauthority. That luxury will now change.

n The Times of of India

BENGALURU

Few infrastructure projects announced this yearThe Budget 2015 had very little to offer the city in terms ofmajor infrastructure projects. However, the already existingprojects such as Vellalore bus stand, multilevel car parkingand ring road around Sanganoor pallam and few freshannouncements such as to make Coimbatore a WiFi city, e-waste warehouse, natural fertilizer factory, bio-methanisationplant, etc. have been made to spike public interest. A sum ofRs157crore has been allotted for road works and Rs2crore forstreetlights is another initiative announced amongst othersthat can have an impact on real estate market here.n The Times of India

COIMBATORE

String of civic works inaugurated at VadodaraState minister for transportation and water suppliesinaugurated development works worth Rs 18.78 crore in thecity. These include a water tank with other infrastructure anddistribution network at Chhani at a cost of Rs 12.5 crore. Thenew Harni water tank was also dedicated to the city. It willalso include13 anganwadis (courtyard shelters) in the southzone of the city and the renovated crematorium at Laxmipura.Other works that were inaugurated include a pay and userestroom near Bhimnath bridge as well as traffic signals atthe Mahavir Hall Crossroads and Vrundavan Crossroads.n The Times of India

VADODARA


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Documents

FOREWORD - MagicBricksproperty.magicbricks.com/microsite/buy/propindex/images/...real estate activity remained slow in the Jan-Mar 2015 quarter. Absence of any favourable real estate