PropIndex | Magicbricks

Residential Market Insights

Suburban localities have seen most of the action

Mumbai residential market faced considerable headwinds in the first half of the year, with NBFC crisis andoversupply in the luxury segment striking the developers. However, riding on the festive season, Q4 2019 witnesseda marginal uptick in prices of 0.4% QoQ.

The price change in case of both the Under-Construction (UC) and Ready-to-Move (RM) property segments waspositive, though the UC segment had higher gains as compared to RM properties. Oversupply in the luxury segmentcontinued to drag down the prices in the premium localities of South Mumbai with QoQ decrease recorded up to 7%in some of the areas.

5 YearChange YoY QoQ

0.4%-0.1%-0.5%

5 YearChange YoY QoQ

0.8%-0.2%8.2%

"After a volatile fourquarters, UC propertylisting prices witnessed0.8% QoQ increase,showing resistance ofsellers to any furtherprice reduction."

Mumbai Q4 2019

Parameters India Mumbai

Demand+ +4.0% -1.6%Supply++ +1.5% -2.2% Price Index+++ +1.2% +0.4%

"City level weightedaverage prices haveremained stagnant forthe last 5 years, whilepremium segmentremained underpressure "

Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019. ++ represents the QoQ change in volume of active listingson Magicbricks website in Q4 2019. +++ represents the QoQ change in the weighted averageprice at India and city level

Source: Magicbricks Research

Lodha Group

Kanakia Spaces

Runwal Developers

The Wadhwa Group

Kalpataru Limited

Godrej Properties

Oberoi Realty Limited

L&T Realty

Rustomjee

Shapoorji Pallonji Real Estate

Trilok Dharshan Bhayandar East

Orchid Ozone Dahisar East

Runwal Greens Mulund West

Global City Virar West

Evershine City Vasai

DB Ozone Mira Road

Lodha Altamount Altamount Road

Vasant Oasis Andheri East

Lodha Aqua Mira Road

Omkar 1973 Worli

Price Bracket (INR/sqft)

< 10000 10000-15000 15000-20000 > 20000

RM UC RM UC RM UC RM UC

0.6%

2.6%

1.5%1.6%

-0.5%-0.9%

-2.0%

-3.1%

QoQ changes in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- With new state government taking theseat in the recent elections, we need towait and see how it will take the city'sinfrastructure development and realestate sector.

- The development of Navi MumbaiInternational Airport and corporatesinterest shifting towards moreaffordable locations, are ikely to pushbuyers to Navi Mumbai.

- Mumbai metro line 3 (Colaba-Bandra-SEEPZ), expected to be partiallyoperational by next year, may providesome relief to South Mumbai market

"Buyers showed clearpreference for 'lessthan INR 15,000 persqft segment',

garnering most of thedemand and priceincreases for thequarter"

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

10,000

12,000

14,000

16,000

18,000

20,000

Avg. Price psf

2014

2015

2016

2017

2018

2019

2020

10,000

12,000

14,000

16,000

18,000

20,000

Avg. Price psf

Average Price INR psf

Average Price INR psf

Note:The above table represents the top developers by numberof active listings on Magicbricks website in Q4 2019

Source: Magicbricks Research

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q4 2019

Source: Magicbricks Research

Notes:1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only Source: Magicbricks Research

Notes:1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only

Source: Magicbricks Research

Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets

Source: Magicbricks Research

Page 1© magicbricks.com

Key Developers based onactive listings

Key Projects based onconsumer searches

1 BHK45%

3 BHK15%

Above 3 BHK6%

2 BHK34%

DEMAND

Demand Supply Analysis Mumbai Q4 2019

Affordable segment supply unable to catch up to demand

Demand heavily tilting towards 1 BHK configurationMumbai facing demand-supplymismatch

Smaller unit configurations continue todominate the Mumbai market with 1 and 2 BHKsattributing to almost 80% of the demand.

Mumbai residential market suffers from avisible demand-supply mismatch, with 1 BHKsforming less than 30% of the supply, whilealmost half of the demand concentrated in thissegment.

"Similarly, 44% of the buyersare interested in buying

properties costing 'less than INR10,000 per sqft', while only 30%of the properties fall in this

segment."

- Almost 25% of the buyers are still looking atoptions costing more than 'INR 20,000 per sqft',indicating consumers' appetite for premiumproperties in Mumbai city, reflecting its statusas the costliest city of India.

- Buyer preference for cheaper options has led tothe peripheral micromarkets witnessing most ofthe action, both in terms of the supply anddemand.

-Malad and areas beyond it form the top 4micro-markets popular amongst the consumers,with 'Beyond Mira Road' (Vasai-Virar)continuing to be the most searchedmicro-market in the last two quarters.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searchesand listings by localities

1 BHK28%

2 BHK42%

3 BHK23%

Above 3 BHK6%

SUPPLY

15000-2000026%

10000-1500016%

> 2000028%

< 1000030%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by activelistingsa

15000-2000019%

10000-1500014%

> 2000022%

< 1000044%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHKs) configuration2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration

Source: Magicbricks Research

.Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by price buckets

Source: Magicbricks Research

Note:1.Above map depicts the key localities of the city, with the size of the bubble depicting the demand (consumer preference) /supply (active listings)for properties in the localities on Magicbricks website in Q4 20192. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

Source: Magicbricks Research

Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.

Source: Magicbricks Research

Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft

Source: Magicbricks Research

Marine Drive

Vasai West

Chembur

Colaba© OpenStreetMap contributors

Demand/SupplyDemand

Beyond Mira Road 3398 - 7516

Malad-Kandivali 10930 - 243..

Mira-Bhayandar 6207 - 12013

Borivali-Dahisar 8802 - 21252

Andheri West 8860 - 42206

Andheri East 13395 - 240..

Goregaon 8615 - 27075

11

22

33

54

45

66

77

Malad-Kandivali 10930 - 24317

Mira-Bhayandar 6207 - 12013

Beyond Mira Road 3398 - 7516

Goregaon 8615 - 27075

Borivali-Dahisar 8802 - 21252

Powai 15570 - 25672

Andheri East 13395 - 24080

11

22

53

44

75

36

67

Micro-Market Price Range Q4 Rank Q3 Rank

(Price in INR per Sqft)

Micro-Market Price Range Q4 Rank Q3 Rank

Page 2© magicbricks.com

Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 20192. Color of the bubble represents price change in Q4 2019, with green color representing price increase and red color price decrease.3. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

Locality NameAveragePrice

QoQChange

Beverly Park

Bhayandar East

Bhayandar West

Mira Bhayandar

Mira Road

Naigaon East

Nalasopara

Nalasopara East

Nalasopara West

Vasai

Vasai East

5.0%

1.1%

5.0%

2.8%

3.0%

3.0%

1.8%

5.0%

0.8%

5.0%

5.0%

5.0%

3.0%

5.0%

-2.5%

4,856

4,426

4,769

6,337

5,020

5,558

4,589

5,123

4,771

4,869

8,328

8,246

9,635

8,488

8,036

< INR 10,000 psf INR 10,000-15,000 psf INR 15,000-20,000 psf > INR 20,000 psf

Price Analysis Mumbai Q4 2019

- With ticket size of less than INR 1 Crore, Peripheral localities remained in demand due to affordability- Residential demand for peripheral areas in Mumbai in the sub INR 10,000 per sqft segment transformed into price increment in the range of 1 to 5% QoQ inmost places - Price decline was most visible in the 'above INR 15,000 per sqft' properties indicating buyers unaffordability above this range.

Source: Magicbricks Research

Mazgaon2.8%

Chembur-4.8%

Colaba-7.0%

© OpenStreetMap contributors

Locality NameAveragePrice

QoQChange

Andheri East

Borivali East

Borivali West

Chandivali

Chembur

Film City Road

Ghatkopar West

Gokuldham

Goregaon East

Goregaon West

Ic Colony

-1.0%

-1.3%

-6.3%

-1.3%

-1.2%

-4.8%

1.2%

-0.1%

1.4%

3.2%

-2.4%

5.0%

-7.0%

-0.4%

2.3%

-7.0%

5.0%

2.9%

-7.0%

-1.7%

-1.4%

0.9%

-4.8%

-1.9%

5.0%

-0.5%

-1.4%

18,513

17,130

16,849

16,096

19,264

16,541

16,963

17,892

15,993

15,542

15,575

15,262

15,645

15,673

16,096

19,533

16,695

17,456

17,074

16,375

18,796

15,470

18,580

18,332

17,507

15,983

18,054

Locality NameAveragePrice

QoQChange

Andheri West

Bandra East

Bandra West

BKC

Colaba

D.n. Nagar

Dadar East

Dadar West

Ghatkopar East

Juhu

Khar West

-7.5%

-7.0%

-1.6%

-0.1%

-3.9%

5.0%

-2.6%

-7.5%

-5.2%

-2.8%

5.0%

-7.0%

-7.0%

1.8%

5.0%

2.8%

-7.0%

-6.5%

-7.0%

-4.3%

-7.0%

-4.6%

-4.1%

2.4%

5.0%

-0.3%

-7.0%

-7.0%

-7.0%

-5.5%

-5.2%

-6.5%

1.8%

43,037

35,918

20,754

30,842

27,548

23,946

20,562

45,770

22,607

34,460

22,298

35,920

26,486

20,586

30,396

27,107

31,671

32,622

28,674

20,076

31,922

25,706

38,202

35,603

20,730

33,128

31,442

22,993

40,944

30,831

40,273

31,743

23,180

-7.5% 7.5%

Avg. Rm-Pc

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. This is an interactive table available on Magicbricks.com under Propindex section.2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder floor segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represent the price change in Q4 2019, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.

Q4 2019 Price changes for the city's major localities

Locality NameAveragePrice

QoQChange

Bhandup West

Dahisar

Dahisar East

JankalyanNagar

LokhandwalaTwp

-0.6%

5.0%

2.9%

5.0%

-5.6%

14,537

13,502

11,732

12,701

14,696

For more information and research related queries, please contact:

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant Managersurabhi.arora@magicbricks.com devendra.lohmor@magicbricks.com ankur.upadhyay@magicbricks.com prateek.pareek@magicbricks.com

Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

-5% -2.5% 0% 2.5% 5%

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