India RPMO Aug 2014

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Residential Property Market Overview August 2014



RESEARCH & FORECAST REPORTSYDNEY CENTRAL BUSINESS DISTRICT

2 Research & Forecast Report | August 2014 | Residential | Colliers International

www.colliers.com

ECONOMIC BAROMETER

Jun-13 Jun-14

Repo rate 7.25% 8.00%

Reverse Repo rate 6.25% 7.00%

CRR 4.00% 4.00%

Inflation 5.16% 5.43%

Home loan rate 9.95% 10.10%

RETURN ON ALTERNATIVE INVESTMENTS

Jun-13 Jun-14 YoY %

Change

Gold 25,778 28,092 8.98%

Silver 40,408 44,332 9.71%

Fixed Deposit 8.75% 9.00% 2.86%

Equity 19,396 25,414 31.03%

Realty Index 1,511 2,077 37.47%

Repo Rate C as h Res erve Rat io Wh ole sal e Pri ce Ind ex

ECONOMIC INDICATORS

I n P e r c e n t a g e

Macro Economic Overview

•

During second quarter the Central Govt. announced friendly measures in the 2014-15budget for real estate sector. With the general improvement in overall sentiment andoptimistic announcements for real estate BSE Sensex and the realty index showedupward trends.

• In a positive move, the RBI (Reserve Bank of India) allowed banks to issue long-termbonds with a minimum maturity of seven years to raise funds for lending to long terminfrastructure and affordable housing projects. Home loans up to INR50 lakhs (INR5million) for houses costing up to INR65 lakhs (INR6.5 million) located in the sixmetropolitan centres and INR40 lakhs (INR4 million) for houses costing INR50 lakhs(INR5 million) in other cities are eligible for home loan under this scheme.

• An increase in transaction volumes was witnessed in cities such as Bangalore, Chennai

and Pune and a number of projects were launched. In cities such NCR, Mumbai andKolkata, there was an increase in enquiries for residential properties but transaction volumes remained stable and developers continued to promote their unsold stock byoffering innovative payment plans.

•COLLIERS VIEW: We anticipate a stable price scenario in cities such as Mumbai andNCR due to the high price points. However, Bangalore, Chennai, Pune, and Kolkata maysee marginal appreciation due to increased demand. Most of these cities may witnessthe launch of affordable projects in the coming quarter as a number of developers areplanning to launch affordable housing projects in line with the Govt. agenda focusingon this type of housing.

4.0

3.0

6.0

5.0

8.0

9.0

7.0

11.0

10.0

12.0

M a r ‘ 0 9

J a n ‘ 0 9

N o v ‘ 0 9

M a r ‘ 1 1

M a r ‘ 1 2

M a y ‘ 1 3

J u l ‘ 1 3

S e p ‘ 1 3

M a r ‘ 1 4

J a n ‘ 1 4

J u l ‘ 1 4

M a y ‘ 1 4

N o v ‘ 1 3

M a r ‘ 1 3

J a n ‘ 1 1

M a y ‘ 0 9

M a y ‘ 1 0

M a r ‘ 1 0

J a n ‘ 1 0

M a y ‘ 1 1

M a y ‘ 1 2

M a y ’ 0 8

M a r ’ 0 8

J a n ‘ 0 8

J u l ‘ 0 9

J u l ‘ 1 0

J u l ‘ 1 1

J u l ’ 1 2

N o v ’ 0 8

S e p ’ 0 8

J u l ‘ 0 8

S e p ‘ 0 9

N o v ‘ 1 0

S e p ‘ 1 0

S e p ‘ 1 1

S e p ‘ 1 2

J a n ‘ 1 2

J a n ‘ 1 3

N o v ‘ 1 1

N o v ‘ 1 2

2.0

1.0

0.0

-1.0

-2.0

Source: Government of India, Colliers International India Research

Research & Forecast ReportIndia I Residential | August 2014

1 SBI Home loan rate for loan upto INR 30 Lakhs2 SBI Fixed deposit rate for a period of more than one yearand amount below INR 1 Crore

3 Realty Index is a free float weighted index, comprised ofreal estate development companies in the BSE-500 Index.

2

3

1



3

2Q 2014 3Q 2014FCapital Value

Rental Value

New Project

Construction Pace

MUMBAI

SELECT NEW PROJECTS

PROJECT NAME LOCATION DEVELOPER NAME TENTATIVE

POSSESSION*

RATE (PER SQ.FT.)**

Anmol Fortune Goregaon (W) The Wadhwa Group 3Q 2017 14,000

Joy Callista Andheri (E) Joy and Sayla Realtors 2Q 2017 21,000

Kanakia Seven Andheri (E) Kanakia Spaces 4Q 2016 11,500

Kanakia Rainforest Andheri (E) Kanakia Spaces 4Q 2017 11,500

Nirmal Centre Court Mulund (W) Nirmal Lifestyle 4Q 2018 10,500

Raj Torres Thane (W) Rajesh Life Spaces 4Q 2017 8,250

•Te Mumbai residential marketremained steady in second quarter,

with lower transaction volume in thesecondary market.

•Prices in the secondary market remainedstable across the micro markets, barring

a few micro markets such as SouthMumbai and the western suburbs, whereQoQ increases in the range of 1-9% wererecorded. Powai and Andheri recordedQoQ decreases in the range of 3-5%.

• In the primary market, few mid-rangedprojects were launched in central and

western suburbs by developers suchas Kanakia Spaces, Rajesh Life Spaces,

Wadhwa Group, Joy & Sayla Realtorsand Nirnal Lifestyle. Tese projects werepriced in the range of INR 8,500 - 21,000

per sq. ft.

• A very few projects were completed thisquarter, including Signia Oceans bySunteck Realty at Airoli.

•Subdued demand for premiumproperties placed pressure on landlords,and South Mumbai witnessed an average5% QoQ decrease in rental values.

•COLLIERS VIEW: While absorptionin the luxury segment is expected to

remain under pressure due to high pricepoints, the pre-launches in the mid-and low-end segments will continue tohave traction at the introductory prices.Overall capital values in the primary andsecondary sales markets are expected toremain stable in the short- to medium-term.

0

10,000

20,000

30,000

40,000

60,000

70,000

50,000

80,000

I N R p e r s q . f t .

I N R p e r s q . f t . p e r m

o n t h

1 Q 2 0 0 8

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

80,000

40,000

50,000

70,000

60,000

10,000

20,000

30,000

0

Mumbai

P r a b h a d e v i

Colaba,Cuffe Parade

S o u t h M u m b a i

Malabar Hill, AltamountRoad, Carmichael Road

Worli

W o r l i

Breach Candy,NapeanseaRoad, Peddar Road

Prabhadevi

B a n d r a

Bandra

S a n t a c r u z

Santacruz

A n d h e r i

Andheri

P o w a i

Powai

K h a r

Khar

J u h u

Juhu

200

150

100

50

0

Malabar Hill,Altamount Road,Carmichael Road

Colaba,Cuffe ParadeBandra

Juhu

Khar

Prabhadevi

Breach Candy,Napeansea Road,Peddar Road

Andheri

Worli

Santacruz

I N R P e r s q . f t .

Note: Above values represents indicative asking price forpremium properties

Note: * As mentioned by developer ** Base selling price as quoted by developer

AVERAGE CAPITAL VALUE RANGE

AVERAGE RENTAL VALUE

AVERAGE CAPITAL VALUE TRENDS

CITY RESIDENTIAL BAROMETER

Note: Ongoing Price: Indicative asking price in the primarymarket.

Micro MarketOngoing Price

(P.S.F)

Thane - Kalyan 4,000 - 8,000

Navi Mumbai 3,500 - 7,500

Virar - Boisar 3,000 - 5,500

INVESTMENT OPPORTUNITIES





Rental Value

New Project

Construction Pace

DELHI

SELECT ONGOING PROJECTS

PROJECT NAME LOCATION DEVELOPER

NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Capital Greens Phase V Shivaji Marg DLF Ltd. 4Q 2015 18,000

Castlewood Okhla Indiabulls Ltd. 4Q 2015 12,800

Kings Court Greater Kailash- II DLF Ltd. 4Q 2015 40,000

Queens Court Greater Kailash- II DLF Ltd. 4Q 2015 36,000

Signature Villas Connaught Place Tata Housing Ltd. 4Q 2017 120,000 - 150,000

Winter Hills Dwaraka Morh Umang Realtech 4Q 2014 10,250

•Te Delhi prime residential marketremained almost stable during 2Q 2014.

An increase in enquires was witnessedtowards the end of the quarter; however,this has not resulted in increase intransaction volume.

•Due to the ongoing monsoon,construction activities remained dull,and the city has not witnessed much newsupply in this quarter.

•Capital values remained stable duringthe quarter; however, an increase in rentsin the range of 3-10% was witnessed inmicro markets including Panchashila,

Anandlok, Niti Bagh, SDA, FriendsColony, Maharani Bagh, Greater KailashI & II and the South Extension.

•

In a major transaction, the RuiaPromoters of ESSAR Group sold theirbungalow located in Jor Bagh for aboutINR 1 billion to an individual buyer whohappened to be a Supreme Court lawyer,Mr. Rohit andon. Te bungalow features12,000 sq ft of built-up space and is builton a 1,045 sq m plot.

• In the primary market, the DelhiDevelopment Authority is likely toannounce its 2014 housing scheme,

with approximately 27,000 flats on offer

in August 2014. Tis will improve theresidential supply in the affordablesegment of the city.

•COLLIERS VIEW: With overall economicuncertainties clearing, the secondarymarket is likely to improve in the comingquarters. Capital values are expected toremain stable in the near-term however,rental value may witness marginalappreciation in select micro-marketsdue to high demand and limited supply.

0

15,000

30,000

45,000

60,000

90,000

105,000

75,000

120,000


I N R p e r s q . f t . p e

r m o n t h

1 Q 2 0 0 8

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

1,00,000

90,000

80,000

40,000

50,000

70,000

60,000

10,000

20,000

30,000

0

Delhi

200

160

120

80

40

0








A n a n d N i k e t a n ,

V a s a n t V i h a r

P a n c h a s h i l a , A n a n d -

l o k , N i t i B a g h , S D A

F r i e n d s C o l o n y ,

M a h a r a n i B a g h

S h a n t i N i k e t a n ,

W e s t e n d

G r e a t e r K a i l a s h I &

I I , S o u t h E x t e n s i o n

G o l f L i n k s , J o r B a g h ,

S u n d e r N a g a r

C h a n a k y a P u r i

P r i t h v i r a j R o a d ,

A u r a n g z e b R o a d

Anand Niketan,Vasant Vihar

Panchashila, Anandlok,Niti Bagh, SDA

Friends Colony,Maharani Bagh

Shanti Niketan,Westend

GreaterKailash I

& II, SouthExtension

Golf Links,Jor Bagh,Sunder Nagar

Chanakya Puri

Prithviraj Road,Aurangzeb Road

Prithviraj Road,Aurangzeb Road

Golf Links, Jor Bagh,Sundar NagarShanti Niketan, Westend

Chanakya Puri Friends Colony,Maharani BaghGreater Kailash I & II,South Extension

Panchashila, Anandlok,Niti Bagh, SDA

Anand Niketan,Vasant Vihar



5

SELECT NEW PROJECTS


NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Ambience High End Luxury Sector 22 Ambience Pvt. Ltd. 2Q 2018 9,500

ATS Triumph Sector 104 ATS Infra 4Q 2017 8,500

Greenopolis Phase 2 Sector 93 Spaze Group 1Q 2018 5,950

Michael Schumacher World Tower Sector 109 Homestead Devel-opers Ltd. 4Q 2017 8,350

One Key Resiments Sector 67 M3M Urbana 4Q 2017 9,250

Supertech Hues Sector 68 Supertech Ltd. 1Q 2018 6,800

•Te Gurgaon residential marketremained stagnant for the fourthconsecutive quarter. Tere was anincrease in enquiries from buyers thisquarter after the elections. However, thishas not resulted in increased transaction

volume due to higher price points.

• In the primary market, many developerslaunched their premium projectsin hopes of a revival of the marketconditions after the new governmenttook charge. However, downwardpressure on the primary marketcontinues and developers with schemeslike “buyback” remained unable to lurecustomers.

•Overall construction activities remainedslow in 2Q 2014 due to the monsoon

season. Projects / parts of projectscompleted this quarter include Avenue71 by CHD Developers at Sector 71 andEden Heights by GPL Promoters at Sector70. Both of these projects were priced atan average of INR5,800 per sq ft.

•Te Public Works Department (PWD),the National Highway Authorityof India (NHAI) and the GurgaonDistrict Administration has given thepermission to construct an eight-laneflyover on Hero Honda Chowk. Tis

will significantly decrease the commutetime to the developing sector in the newGurgaon area.

•COLLIERS VIEW: In view of the politicalstability, the residential market is likelyto gain momentum in the comingquarters. However, capital and rental

values are likely to remain stable inalmost all micro-markets due to amplestock availability in both primary andsecondary markets.


Rental Value

New Project

Construction Pace

GURGAON

0

5,000

10,000

15,000

20,000

30,000

35,000

40,000

25,000

45,000


I N R p e r s q . f t . p e r m o n t h

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

18,000

8,000

10,000

16,000

14,000

12,000

2,000

4,000

6,000

0

Gurgaon

N H - 8

Sohna Road

& Ext

G o l f C o u r s e R o a d

DLF Phase I

S o h n a R o a d & E x t

D L F P h a s e I

NH - 8

Golf Course Road

S u s h a n t L o k

Sushant Lok

80

60

40

20

0










(P.S.F)

Golf Course Road

Extension

7,500 - 9,000

Sohna Extension 4,000 - 5,000

Pataudi Road 4,500 - 5,500

New Gurgaon 4,000 - 5,000


DLF Phase I

NH-8

Golf Course Road

Sushant Lok

Sohna Road& Ext

1 Q 2 0 1 5 F




•Caution continues to be the dominatingfactor affecting both investors and end-users demand in the NOIDA residentialmarket. A number of projects ready forpossession in various sectors along theNOIDA expressway are stalled and havenot been given occupation certificates.

•Te National Green ribunal (NG) hascome up with an interim decision thatall building construction within a 10-km radius of the Okhla bird sanctuary,or within a certain distance of the eco-sensitive zone, as may be prescribed bya notification from the MoEF (Ministryof Environment and Forests), shall besubject to the decision of the NationalBoard of Wild Life (NBWL), anduntil clearance from NBWL has beenobtained, the authority concerned maynot issue buildings with completioncertificates.

•Following the previous quarter trends,both capital values in the primarymarket remained stable across all micro-markets. However, developers wereoffering various incentives such as cashdiscounts and other giveaways in orderto attract customers and reduce theirunsold stock.

•Rental values are depreciated in therange of 2-5% QoQ across the sectors

due to upcoming new supply in newdeveloping sectors.

•COLLIERS VIEW: Currently, bothinvestors and end-users are delayingtheir buying decisions due to theongoing NG issue. However, the NGrecently sent a proposal to the ministryto declare the area within a 1.2 km radiusof the bird sanctuary an eco-sensitivezone. If accepted, large new supply willcome on the market and will keep rental

values under pressure. In the meantime,

capital values have remained stable dueto consistent end-user demand.


Rental Value

New Project

Construction Pace

NOIDA

SELECT NEW PROJECTS


NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Ambience Tiverton Sector 50 Ambience Group 4Q 2017 9,000

Eldeco Edge Sector 119 Eldeco Group 4Q 2017 4,520

Sports City Sector 79 Exotica Housing 2Q 2018 4,400

Lotus Greens Yamuna Expressway 3C Ltd 4Q 2018 2,700

Lotus Square Residences Sector 98 Lotus Greens 4Q 2018 7,500

The Urban Walk Sector 121 Techzona Group 4Q 2017 5,000

0

1,500

3,000

4,500

6,000

9,000

10,500

7,500

12,000


I N R p e r s q . f t . p e r

m o n t h

3 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

12,000

6,000

7,500

10,500

9,000

1,500

3,000

4,500

0

NOIDA

Sector 50

Sector 44

Sector 61,62,63

Sector28,29,30

Sector 92/93

40

30

20

10

0










(P.S.F)

NOIDA Expressway 4,000 - 7,000

Sectors 71 to 83 4,500 - 5,500


S e c t o r 2 8 , 2 9 , 3 0

S e c t o r 9 2 / 9 3

S e c t o r 6 1 , 6 2 . , 6 3

S e c t o r 5 0

S e c t o r 4 4

Sector 61,62,63

Sector 92 / 93

Sector 28,29,30

Sector 50Sector 44



7


Rental Value

New Project

Construction Pace

CHENNAI

0

4,000

16,000

12,000

8,000

20,000

28,000

24,000

40,000

36,000

32,000


I N R p e r s q . f t . p e r m o n t h

1 Q 2 0 0 8

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

35,000

15,000

20,000

30,000

25,000

0

5,000

10,000

Chennai

Anna Nagar

Boat Club

Adyar

Nungambakkam

Beasant Nagar

T Nagar

Sholinganallur

Siruseri/ Kazipattur

Alwarpet /R A Puram

Velachery

90

75

60

45

30

15

0










(P.S.F)

Velachery 5,000 - 7,000

Sholinganallur 3,500 - 4,200

Siruseri/ Kazipattur 3,000 - 4,000

Kelambakkam 3,000 - 4,000


SELECT NEW PROJECTS


NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Bollineni Hillside Phase II Sholinganallur Bollineni Hillside 2Q 2017 4,000

Fairmount Guindy VGN Developers 2Q 2017 6,500

Lilac Heights R A Puram ETA Star 4Q 2016 22,000

Masken Heights Velachery Greata Enterprises 2Q 2016 8,500

Opaline sequel Navalur Olymbia Group 4Q 2016 4,400

Tango Thoraipakkam Akshaya Homes 4Q 2016 8,500

A d y a r

A n n a N a g a r

N u n g a m b a k k a m

A l w a r p e t /

R A P u r a m

V e l a c h e r y

S h o l i n g a n a l l u r

S i r u s e r i / K a z i p a t t u r

T N a g a r

B e a s a n t N a g a r

B o a t C l u b

Boat Club

Siruseri/ Kazipattur

Velachery

Sholinganallur

Anna Nagar

T Nagar

AdyarBeasant Nagar

Nugambakkam

Alwarpet /R A Puram

• In 2Q 2014, a number of new projects,both in the premium and mid-rangecategories, were launched in micro-markets such as R. A. Puram, Velacheryand Toraipakkam witness launch ofpremium projects in the price rangeof INR8,500 - 22,000 per sq ft, while

micro-markets like Guindy, Navalur andSholinganallur witnessed mid-rangeprojects launched in the price bracket ofINR4,000 - 6,500 per sq ft.

•Similarly, a number of premium projects/ parts of projects were completed thisquarter, including “Isha Maanikam”by Isha Homes Pvt Ltd at Alwarpet,“Bhoomi Crimson Square” by Bhoomi&Buildings at Mylapore, “Mandarina” by

Appaswamy real estates at Kotturpuram,all priced in the range of INR 15,500 –

20,000 per sq. ft.

•Capital values increased in the rangeof 1 - 8% QoQ in almost all micro-markets, barring Adyar where capital

values decline by 1% QoQ, and Nagar, Velachery, Siruseri and Kazipattur, where capital values remained stable.

•Rental rates remained stable due to hugeavailable supply.

•Tis quarter, GMR Infrastructure

announced completion of 29.65 kmOuter Ring Road (ORR) Phase 1.Tis road will extend from Vandalurto Nemilichery and ease the trafficcongestion along the western periphery.

•COLLIERS VIEW: Looking forward, weexpect a further increase in demand fromboth investors and end users. Capital andrental values for premium properties willcontinue to remain stable; however mid-range properties will see a rise in capital

values by 2 - 5% in the near term due tohigh demand.




•Strong demand for mid-range properties was witnessed during 2Q 2014, mainlyin micro-markets like Whitefield,Tanisandra Road, Kanakpura Road andHosur Road.

• Various projects / parts of projects

witnessed completion this quarterincluding “Legacy Caldera” by LegacyGroup at Cunninghum Road, priced atINR 15,000 per sq. ft.; “Nitesh CentralPark” by Nitesh Estate at Bagalur Road,“Legacy Estilo” by Legacy Group at

Yalahanka-Doddaballapur Road, “PurvaSky wood” by Puravankara Projectsand “PrishaBhuvana Greens” by PrishaProperties both at Harlur Road. Teseprojects priced in the range of INR 4,500to 5,200 per sq. ft.

•

A number of national and localdevelopers launched new projects inmid-range focusing on supplying moremedium density or township stylehousing, in an attempt to provide a moreaffordable product.

•Backed-up by the strong demand, capital values increased in the range of 2 - 12%QoQ. Similarly, rents increased in therange of 1 - 5% QoQ due to continuousdemand from I/IeS employees.

•

Te state government has cleared theexecution of Phase 2 of the NammaMetro which will connect Byappanahallito IPL-Whitefield and Mysore Roadterminal to Kengeri.

•COLLIERS VIEW: It is anticipated thatdemand in the Bangalore residentialmarket will continue to remain firmin the coming quarters due to apositive economic outlook and robustcommercial market performance. Bothcapital and rental vales are expected

to increase in the range of 2 - 4% QoQacross all micro-markets.


Rental Value

New Project

Construction Pace

BENGALURU

SELECT NEW PROJECTS


NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Assetz Marq Whitefield Assetz Homes 4Q 2018 4,200

Godrej United Whitefield Godrej Properties 4Q 2017 5,400

Nitesh Melbourne Park Hennur Road Nitesh Group 4Q 2017 4,750

Prestige Falcon City Kanakpura Road Prestige Group 4Q 2018 5,499

Pride Enchanta Mysore Road Pride Group 4Q 2016 5,450

Pride Wilasa Kanakpura Road Pride Group 4Q 2016 6,750

0

4,000

8,000

12,000

16,000

24,000

28,000

20,000

32,000



r m o n t h

1 Q 2 0 0 8

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

30,000

25,000

20,000

15,000

5,000

10,000

0

Bengaluru

Jayanagar

Central

PalaceOrchard

Cooke Town

Airport Road

Indiranagar

Koramangala

Whitefield

Yelahanka

Bannerghatta Road

80

60

40

20

0










(P.S.F)

Airport Road 5,000 - 7,000

Bannerghatta Road 4,200 - 6,000

Whitefield 4,400 - 6,000

Yelahanka 3,500 - 5,000


Y e l a h a n k a

B a n n e r g h a t t a R o a d

A i r p o r t R o a d

W h i t e fi e l d

J a y a n a g a r

C o o k e T o w n

K o r a m a n g a l a

I n d i r a n a g a r

P a l a c e O r c h a r d

C e n t r a l

Central

Yelahanka

Koramangala

Indiranagar

Jayanagar

Bannerghatta Road

Palace Orchard

Cooke Town

Airport Road

Whitefield



9


Rental Value

New Project

Construction Pace

KOLKATA

0

2,000

4,000

8,000

6,000

12,000

14,000

20,000

18,000

16,000

10,000

22,000

24,000



r m o n t h

1 Q 2 0 0 8

3 Q 2 0 0 8

3 Q 2 0 0 9

1 Q 2 0 0 9

1 Q 2 0 1 0

3 Q 2 0 1 0

1 Q 2 0 1 2

3 Q 2 0 1 2

1 Q 2 0 1 3

3 Q 2 0 1 3

3 Q 2 0 1 4 F

1 Q 2 0 1 5 F

1 Q 2 0 1 4 F

1 Q 2 0 1 1

3 Q 2 0 1 1

8,000

10,000

18,000

20,000

16,000

12,000

14,000

2,000

4,000

6,000

0

Kolkata

50

40

30

20

10

0










(P.S.F)

Tollygunge 3,600 - 4,800

Behela 2,900 - 3,700

Salt Lake 4,000 - 6,000

EM Bypass 4,000 - 7,000

New Town-Rajarhat 3,200 - 4,600


SELECT NEW PROJECTS


NAME

TENTATIVE

POSSESSION*

RATE (PER

SQ.FT.)**

Avishi Trident BT Road Trident Group 4Q 2018 6,100

Bhawani Allen Enclave Keshtopur Bhawani Group 4Q 2017 4,050

Malati Apartment New Town Malati Construction 4Q 2017 3,600

Ozone Garia PS & Srijan Group 4Q 2018 5,500

Rajarhat Junction Rajarhat Realtech Nirman 4Q 2018 4,500

Shivaham Paradise Haldiram Shivaham Builders 4Q 2018 4,500

•During 2Q 2014, Kolkata market witnessed a moderate increase indemand was primarily in the mid-rangeand affordable segments in Dum DumCant, Rajarhat, Barasat and New own.Te majority of this demand was fromend-users.

• In the same quarter, the city residentialmarket saw many new launches,especially in micro-markets like Garia,Rajarhat, New own, B Road andKeshtopur. Most of these projects weremid-range projects priced in the rangeof INR3,300 to 5,500 per sq ft.

•Few projects / parts of projects werecompleted this quarter includingGreenfield City Phase 2 by Greenfield atBehala; Sidhha own (owers 6 & 7) by

Sidhha Group at Rajarhat; and SamarKunj by Infrastructure India Pvt Ltd atBarasat. All of these projects are pricedin the range of INR2,300 to 3,500 per sqft.

• In 2Q 2014, both capital and rental valuesrose in the range of 2 - 8 % QoQ in almostall micro-markets, except Bhawanipur,ollygunge, Salt Lake and New own –Rajarhat where both capital and rental

values remained stable.

•

COLLIERS VIEW: Going forward, weexpect a moderate increase in capitaland rental values in the near term inthe mid-range and affordable housingsegments due to high demand in thesesegments. However, premium propertiesare expected to remain stable in theshort term.

A l i p o r e

B a l l y g u n g e

B h a w a n i p u r

E M B y p a s s

P A S h a h R o a d

L o u d o n S t r e e t

N e w

T o w n - R a j a r h a t

S a l t L a k e

T o l l y g u n g e

V I P R o a d

B e h e l a

Bhawanipur

PA Shah Road

Tollygunge

Loudon Street

Behela

AliporeEM Bypass

Ballygunge

Salt Lake

VIP Road

New Town Rajarhat

Bhawanipur

EM Bypass

Ballygunge

Behela

Tollygunge

P A Shah Road

New Town -Rajarhat

Loudon street

Alipore

VIP Road

Salt Lake





11

Mumbai

Te high-end residential real estate markets in Mumbai include

Malabar Hill, Altamount Road, Carmichael Road, Napean Sea

Road, Breach Candy, Colaba, Cuffe Parade, Prabhadevi, Worli,

Bandra, Khar, Santacruz, Juhu and Powai.

Delhi

Te prime residential areas in Delhi are in the South region and

comprise Vasant Vihar, Westend, Shanti Niketan, Anand Niketan

and Central Delhi locations. Tese areas enjoy proximity to

embassies, the airport and central commercial areas - Connaught

Place.

Gurgaon

Te prime residential locations of Gurgaon include Golf Course

Road, DLF Phase I, Sushant Lok, NH-8 and Sohna Road. DwarkaExpressway, Sohna Region, Pataudi Road and Southern Peripheral

Road (SPR) are also emerging as a preferred residential location

owing to its proximity to the national capital.

NOIDA

NOIDA premium residential market is comprised of sectors

44, 50, 92, 61, 62, 63 , 28, 29, 30 and NOIDA - Greater NOIDA

Expressway. Most of the new projects launches are concentrated

in new sectors such as Sector 70 - 78 and sectors along NOIDA -

Greater NOIDA Expressway.

Chennai

Te prime residential areas in Chennai include Boat Club,

R.A.Puram, MRC Nagar, Tiruvanmiyur, Valmiki Nagar and

Besant Nagar, R.A Puram, Mylapore and Adyar in South Chennai,

Nungambakkam, Chetpet, Poes Garden, Egmore, Alwarpet, .

Nagar in Central Chennai; and Anna Nagar, Kilpauk in North

West Chennai.

Bengaluru (Bangalore)

Te residential market of Bengaluru comprises both apartments

and independent residences. Currently, high-end residential

developments are mainly concentrated along the CBD, and

Eastern and South precincts of the city. Recently, Northern

Bengaluru has also witnessed a spree of realty activity facilitated

by the new International Airport at Devanhalli.

Kolkata

Te prime residential areas in Kolkata include PA Shah Road,

ollygunge and Bhawanipur in South Kolkata, Alipore and

Behala in South-west Kolkata, Loudon Street and Ballygunge in

Central Kolkata; and Salt Lake, EM Bypass and VIP Road in North

Kolkata.

Pune

Te prime residential areas in Pune include Kalyani Nagar, Viman

Nagar, Boat Club Road, NIBM Road, Magarpatta, Hadapsar,

Koregaon Park. Recently, increased activities has been witnessed

in Pimpri-Chinchwad, Baner-Pashan and Kondhwa.

Residential Submarkets

CIY BAROMEERS

Increasing as compared to previous quarter

Decreasing as compared to previous quarter

Remained stable from previous quarter



12 R h & F R | A 2014 | R id i l | C lli I i l

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Primary Authors:

Surabhi Arora I Associate Director

Research

[email protected]+91 124 456 7500

Mumbai: Raghavendra Prabhu I Office Director

[email protected]

Delhi / NCR: Vikas Kalia I Office [email protected]

Amit Oberoi I National Director

Valuation & Advisory Services & Researchamit.oberoicolliers.com

Sachin Sharma I Assistant Manager

Research

[email protected]

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DLF Golf Course Road,

Sector 54, Gurgaon - 122 002

TEL +91 124 456 7500

Bengaluru: Goutam Chakraborty I Office Director

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Pune: Suresh Castellino I Office Director

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Chennai: Kaushik Reddy I Office Director

[email protected]

Kolkata: Soumya Mukherjee I Office Director

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India RPMO Aug 2014