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Real Insight – Q4 FY’19April 2019
Source: PropTiger DataLabs Mar’19
Executive Summary – Q4 FY’19
• New supply further declined by 32% over last year. In the recent quarter except Chennai, Gurugram and Pune all
other cities witnessed the reduction in new launches
• Total sales of top 9 cities decreased marginally by 5% over last year, impacted by GST transition rules. Hyderabad
realty was an exception to national trend and witnessed significant improvement in sales over last year.
• Unsold inventory of top 9 cities further reduced 10% year on year and overall inventory overhang reduced
marginally to 30 months. Hyderabad has the lowest inventory overhang of 17 months whereas Ahmedabad has
the highest of 40 months
• Hyderabad continued its price rally whereas prices in NCR and Ahmedabad witnessed correction
• Affordable housing continued to dominate the supply and launches across cities. Ahmedabad & Kolkata having
maximum unsold inventory in less than Rs. 25 Lakhs segment
Source: PropTiger DataLabs Mar’19
Residential Landscape: Top-9 cities as of Q4 FY’19 over last year
Notes: 1. Y-o-Y is comparison between the corresponding quarter of the previous year and the current quarter 2. BSP is represented in Rs./sq.ft. over super area 3. Inventory overhang is represented in months. 4. MMR is Mumbai Metropolitan Region which includes Navi Mumbai and Thane
Y-o-Y (%)
Launches -97%
Sales -10%
BSP-1%
(2,825)
Inventory Overhang
70%(40)
AHMEDABAD BENGALURU Y-o-Y (%)
Launches -54%
Sales -23%
BSP3%
(5,114)
Inventory Overhang
5%(25)
Y-o-Y (%)
Launches 115%
Sales -13%
BSP0%
(5,116)
Inventory Overhang
-19%(25)
CHENNAI
Y-o-Y (%)
Launches 5%
Sales 10%
BSP-4%
(4,950)
Inventory Overhang
4%(32)
GURUGRAM Y-o-Y (%)
Launches -3%
Sales 26%
BSP14%
(4,902)
Inventory Overhang
-14%(17)
HYDERABAD Y-o-Y (%)
Launches -76%
Sales 15%
BSP1%
(3,889)
Inventory Overhang
40%(38)
KOLKATA
MMR Y-o-Y (%)
Launches -54%
Sales 4%
BSP3%
(9,295)
Inventory Overhang
-47%(33)
NOIDA Y-o-Y (%)
Launches -28%
Sales -50%
BSP-1%
(3,885)
Inventory Overhang
-69%(34)
Y-o-Y (%)
Launches 21%
Sales 5%
BSP2%
(4,795)
Inventory Overhang
-48%(27)
PUNE
Source: PropTiger DataLabs Mar’19
Sales declined by 10% whereas inventory overhang improved by 3% over last quarter
Launches
Sales
Inventory Overhang
Q4 FY’18 Q2 FY’19 Q3 FY’19 Q4 FY’19Q1 FY’19
Price Trend
41%
36%
1%
-6%
Residential trends in top-9 cities* Q-o-Q
Notes: * Top 9 Cities are MMR (Mumbai, Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
2%
-3%
1%
- 4%
-21%
1%
25%
1%
-10%
0%
Strong/Marginal Decline/
Strong/Marginal Increase
Stable
- 32%
-10%
1%
-3%
8%
-10%
Source: PropTiger DataLabs Mar’19
1…………... Launches: Struggling
Source: PropTiger DataLabs Mar’19
Severe slowdown in launches, 32% decline over last year
1,08,925
87,08078,460
78,698
87,386
66,41160,728
46,955
66,019 67,203
52,876
65,841
44,834
10,000
30,000
50,000
70,000
90,000
1,10,000
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Total units of launches in top-9 cities*# of units
32%
Notes: * Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
32%
Source: PropTiger DataLabs Mar’19
Launches picked up only in Chennai, Pune and marginally in Gurugram
8,1
22
10
,96
4
3,6
61
4,7
05 6
,28
5
5,3
66
16
,09
7
2,1
24
8,6
95
23
2
5,0
26
7,8
67
4,9
29 6,0
66
1,2
73
7,3
52
1,5
28
10
,56
1
0
3,000
6,000
9,000
12,000
15,000
18,000
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Total unit launches – Q4 FY’18 vs Q4 FY’19
Q4 FY'18
Q4 FY'19
# of units
Notes: * Noida includes Greater Noida and Yamuna Expressway.** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane)^ Gurugram includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Affordable housing with <60 sq mts carpet area contributed ~58% of new units launched
19%12% 10% 12%
6%13% 12% 9% 8%
43%47% 49% 46%
38%
40% 44% 50% 50%
38% 41% 41% 42%
56%47% 44% 41% 42%
0%
20%
40%
60%
80%
100%
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Q-o-Q size-wise unit launches in top-9* cities
Carpet Area <30 sq mts Carpet Area 30-60 sq mts Carpet Area >60 sq mts
% of units
Notes: * Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
~60% of new units launched were priced below <Rs. 50 Lakhs budget1
29% 28% 30% 28%
42%30% 31% 31% 29% 31%
22%
39%
23%
31% 33%35% 40%
28%
33% 27% 27% 33% 35%
38%
28%
34%
20% 17% 15%14%
15%18%
17% 16%19%
21%20%
17%
20%
6% 7% 9% 7% 5%8%
7% 7%
8%5%
8%6%
12%
14% 15% 11% 11% 10% 11%18% 19%
11% 8% 12% 10% 11%
0%
20%
40%
60%
80%
100%
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q-o-Q budget-wise unit launches in top-92 cities
< Rs.25 Lakhs Rs.25-50 Lakhs Rs.50-75 Lakhs Rs.75-100 Lakhs > Rs.1 Crore
% of units
Notes: 1. Budget is based on basic price and does not include additional costs as well as taxes, stamp duty and registration costs 2. Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
2……Consumer & Demand :
Sales Momentum Subdued
Source: PropTiger DataLabs Mar’19
Marginal decline in sales, only 5% over last year
80,230 79,420
72,581
60,049
67,86670,362
62,71158,504
79,601 77,09683,005 83,838
75,706
10,000
30,000
50,000
70,000
90,000
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Sales trend in top-9 cities*# of units
Notes: * Top 9 Cities are MMR( Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
5%
Source: PropTiger DataLabs Mar’19
Hyderabad followed by Gurugram witnessed significant improvement in sales over last year
5,2
89
10
,96
9
4,8
19
5,2
20
5,6
18
3,3
52
22
,90
4
7,7
18
13
,71
2
4,7
39
8,4
02
4,1
97 5,7
64
7,0
59
3,6
23
23
,71
8
3,8
56
14
,34
8
0
5,000
10,000
15,000
20,000
25,000
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Total unit sales – Q4 FY’18 vs Q4 FY’19Q4 FY'18
Q4 FY'19
# of units
Notes: * Noida includes Greater Noida and Yamuna Expressway.** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane)^ Gurugram includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Severe decline seen in sales of under-construction units
8,047 7,979 8,369 6,8438,981 9,851 8,401 7,155
14,49911,292 12,242 13,854 13,704
72,183 71,441
64,212
53,206
58,885 60,511
54,31051,349
65,102 65,80470,763 69,984
62,002
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Sales in top-9* cities: Completed vs Under-Construction projects
Completed Under Construction
Notes: * Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
# of units
19%
- 4 .9%
CAGR (12 qtrs)
Source: PropTiger DataLabs Mar’19
<Rs.50 Lakhs budget1 segment continued to contribute >55% to sales
26% 26% 23% 24% 26% 26% 26% 23% 23% 26% 23% 25% 25%
33% 33% 34% 35% 34% 33% 31% 33% 33%33% 34% 32% 30%
18% 18% 18% 18% 18% 18% 17% 19% 20% 19% 19% 18% 18%
8% 8% 9% 8% 7% 8% 9% 8% 8% 7% 9% 9% 11%
15% 15% 16% 15% 15% 15% 17% 17% 16% 15% 15% 16% 16%
0%
20%
40%
60%
80%
100%
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Sales in top-92 cities by budget segment
< Rs.25 Lakhs Rs.25-50 Lakhs Rs.50-75 Lakhs Rs.75-100 Lakhs > Rs.1 Crore
% of units
Notes: 1. Budget is based on basic price and does not include additional costs as well as taxes, stamp duty and registration costs 2. Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Units with carpet area <60 sq mts contributed 49% to sales
11% 9% 7% 5% 5% 7% 8% 8% 8%
33% 35% 39% 40% 37%40% 40% 43% 41%
56% 56% 54% 55% 58% 53% 52% 49% 51%
0%
20%
40%
60%
80%
100%
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Q-o-Q size-wise unit sales in top-9* cities
Carpet Area <30 sq mts Carpet Area 30-60 sq mts Carpet Area >60 sq mts
% of units
Notes: * Top 9 Cities are MMR(Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Gurugram followed by Ahmedabad leads in affordable housing with more than one-third of the sales in < Rs.25 Lakhs budget1 segment
33%
6%
21%
43%
1%
30% 30%
17%30%
37%
32%
39%
15%
22%
39%
22% 46%
43%
18%
28%
18%12%
26%
16%
14%
19%
17%
3%
16%
9%14%
29%
8%
9%
7%
4%9%
18% 13% 16%22%
7%
25%
11%6%
0%
20%
40%
60%
80%
100%
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Budget-wise sales in top-9* cities – Q4 FY’19
< Rs.25 Lakhs Rs.25-50 Lakhs Rs.50-75 Lakhs Rs.75-100 Lakhs > Rs.1 Crore
% of units
Notes: 1. Budget is based on basic price and does not include additional costs as well as taxes, stamp duty and registration costs * Noida includes Greater Noida and Yamuna Expressway. ** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane) ^ Gurugram includes Bhiwadi, Dharuhera and Sohna.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Over 600,000 units are expected to be delivered in next 12 months
2,48,5182,72,908
3,54,3533,16,049 3,13,981
4,47,385
6,06,125
4,01,077
0
1,00,000
2,00,000
3,00,000
4,00,000
5,00,000
6,00,000
7,00,000
FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21
Units Delivered in Top – 9 cities
Units Delivered Expected Deliveries
Expected Delivery
# of units
Note: Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
3………Inventory: Reduced Inventory
Overhang
Source: PropTiger DataLabs Mar’19
Inventory overhang improves, reached at less than 3 years of sales velocity
Notes: * Top 9 Cities are MMR( Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
34 34 34
3740 41
42 4239
38
34
31 30
0
15
30
45
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Q-o-Q overall inventory overhang in top-9* cities# of months
Source: PropTiger DataLabs Mar’19
Unsold inventory lowest in last 3 years
8,7
5,2
22
8,8
2,5
52
8,8
7,5
96
9,0
5,0
23
9,2
3,8
31
9,1
8,8
75
9,1
6,4
32
9,0
4,8
75
8,9
0,7
19
8,8
0,7
62
8,5
0,3
68
8,3
2,3
71
8,0
0,4
38
-
2,00,000
4,00,000
6,00,000
8,00,000
10,00,000
Q4FY'16
Q1FY'17
Q2FY'17
Q3FY'17
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Unsold inventory in top-9* cities as on quarter end
10%
Notes: * Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
# of units
Source: PropTiger DataLabs Mar’19
NCR holds the highest share of unsold inventory aged above 3 years
27% 28%39%
24%31%
22%13%
8%
25%
20%10%
8%
10%
23%
13%19%
7%
16%
17%
14%
11%
8%
18%
24%
17%
9%
20%
36%48%
42%
58%
28%
41%51%
76%
39%
0%
20%
40%
60%
80%
100%
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Age of unsold inventory in top-9 cities (Mar’19)
≤ 1 Yr 1 to 2 Yrs 2 to 3 Yrs > 3 Yrs
% of units
Notes: * Noida includes Greater Noida and Yamuna Expressway.** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane.)^ Gurugram includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Hyderabad has the best inventory profile (lowest age as well as lowest overhang)
Notes: * Top 9 Cities are MMR (Mumbai including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.Size of the bubble indicates total inventory in units.
Age of unsold inventory (months)
Inventory overhang (months)
AhmedabadBengaluru
Chennai
Gurugram
Hyderabad
Kolkata
MMR
Noida
Pune
20
30
40
50
60
70
15 20 25 30 35 40 45 50
Age of unsold inventory vs inventory overhang in top-9* cities(Mar’19)
Source: PropTiger DataLabs Mar’19
Almost half of unsold units are sized below <60 sq mts carpet area
7% 7% 7% 8% 8% 8% 9% 10% 10%
36% 37% 38% 38% 38% 38% 39% 38% 39%
57% 56% 55% 54% 54% 54% 52% 52% 51%
0%
20%
40%
60%
80%
100%
Q4FY'17
Q1FY'18
Q2FY'18
Q3FY'18
Q4FY'18
Q1FY'19
Q2FY'19
Q3FY'19
Q4FY'19
Q-o-Q size-wise unsold inventory in top-9* cities
Carpet Area <30 sq mts Carpet Area 30-60 sq mts Carpet Area >60 sq mts
% of units
Notes: * Top 9 Cities are Mumbai (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Ahmedabad, Pune and Kolkata have more than 75% of the unsold inventory in the <Rs.50 Lakhs segment
% of units
44%
5%17%
33%
2%
39%32%
13%
35%
33%
30%
39%
20%
15%
36%
20% 54%
41%
9%
34%
19%13%
25%
13%
13%
19%
15%4%
14%11%
12%
24%
6%
8%
7%3%10%
17% 14%22%
34%
6%
27%
7% 6%
0%
20%
40%
60%
80%
100%
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Budget1 breakup of unsold inventory (Mar’19)
< Rs.25 Lakhs Rs.25-50 Lakhs Rs.50-75 Lakhs Rs.75-100 Lakhs > Rs.1 Crore
Notes: 1. Budget is based on basic price and does not include additional costs as well as taxes, stamp duty and registration costs * Noida includes Greater Noida and Yamuna Expressway. ** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane) ^ Gurugram includes Bhiwadi, Dharuhera and Sohna.
Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Mar’19
Ahmedabad and Chennai have the highest share of completed units in unsold inventory
Notes: * Noida includes Greater Noida and Yamuna Expressway.** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane)^ Gurugram includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
% of units
29
%
23
%
26
%
19
%
10
% 17
%
10
% 21
%
14
%
71
%
77
%
74
%
81
%
90
% 83
%
90
% 79
%
86
%
0%
20%
40%
60%
80%
100%
Ahmedabad Bengaluru Chennai Gurugram^ Hyderabad Kolkata MMR** Noida* Pune
Unsold inventory as on Mar’19 – Completed Vs Under-Construction
Completed Under Construction
Source: PropTiger DataLabs Mar’19
4………Pricing: PositiveChanges
Source: PropTiger DataLabs Mar’19
Hyderabad continued its price rally whereas prices in NCR corrected marginally
Notes: ^^ Price weighted on number of units supply in respective projects in a city.* Noida includes Greater Noida and Yamuna Expressway.** MMR – Mumbai Metropolitan Region (Mumbai includes Navi Mumbai and Thane)^ Gurugram includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments across the regions.
City Q4 FY’18 Q4 FY’19Price Change
(Y-o-Y)
Ahmedabad 2,843 2,825 -1%
Bengaluru 4,989 5,114 3%
Chennai 5,123 5,116 0%
Gurugram^ 5,130 4,950 -4%
Hyderabad 4,317 4,902 14%
Kolkata 3,831 3,889 1%
MMR** 9,020 9,295 3%
Noida* 3,906 3,866 -1%
Pune 4,720 4,795 2%
Weighted average^^ BSP (Rs./sq.ft.) of apartment units as at the end of quarter
Source: PropTiger DataLabs Mar’19
5………Macro Indicators
Source: PropTiger DataLabs Mar’19
Key Developments
Policy Changes
• The GST Council has notified formation of a ministerial panel which will study problems plaguing the real estate sectorunder the indirect tax regime and suggest remedial measures.
• The Goods and Service Tax Council approved the transition plan to move towards new tax rates for the real estate sectorby giving builder an option to levy the old tax rate if they want. Choosing the old tax rates for projects, construction forwhich was started before March 31, will help builders to avail their accumulated input tax credit. New projects startingfrom April 1 will have the new tax rates of 1 percent for affordable housing projects, and 5 percent for other housingprojects without the benefit of input tax credit.
• Realty sector hope for revival in housing sales after RBI decision to cut Repo Rate by 25 bps to 6.25 per cent, which wouldmake home loans easier and cheaper for the home buyers provided the public sector banks and other lending institutionspass on the benefit to their customers.
Infrastructure Developments
• Maharashtra clears phase II of Nagpur metro worth Rs 11,216 crore.
• The Delhi Metro Rail Corporation (DMRC) has submitted a revised detailed project report (DPR) for a further extension ofthe Blue Line — the metro phase 3 corridor (Noida Electronic City-Mohan Nagar).
• The improved connectivity by the Aqua Line may encourage fence sitters looking for an affordable, ready-to-move-in unitsto take a call on purchasing a house, but there may not be a massive price appreciation due to oversupply in the market.
Source: PropTiger DataLabs Mar’19
Key transactions of last quarter
Buyer SellerSize
(Acres)Amount
(Rs. crore)Location Deal Status
Godrej Properties Rail Land Development Authority 27.0 1,100 Ashok Vihar, New Delhi Done
TVS Emerald Housing SNP Infrastructure 6.5 150 Chennai Done
Ascendas-Singbridge Group GSquare Group 12.2 175 Pallavaram–Thoraipakkam Road, Chennai Done
Land Deals
Buyer Seller PropertyAmount
(Rs. crore)Location Deal Status
Blackstone Group LLP and Salarpuria Sattva group
Tanglin Developments Global Village Tech Park 2,800 BengaluruOngoing
Discussion
Commercial Space Buyouts
Tenant PropertyArea
(lakh sq.ft.)Location Lease Type
Bank of America DLF Cyber Park 5.0 Gurgaon Fresh Lease
Samsung R&D Institute Bagmane Goldstone 4.0 Bengaluru Fresh Lease
WPP India ORB complex 3.0 Mumbai Fresh Lease
WeWork Vijay Diamond 1.0 Mumbai Fresh Lease
Leasing Deals
Source: PropTiger DataLabs Mar’19
Outlook for Q1 FY’20
• New transition rules of GST might create confusion in the minds of buyers. Developer’s have time till 10th May to
decide on final rates for their projects and this will have impact on sales in next quarter
• Launches will continue to stay low in next quarter impacted primarily by election results
• New GST rates for affordable housing has brought cheer to this segment as definition of affordable housing has
been expanded
• We expect prices to start moving up in most cities as developers adjust their pricing to include impact of lack of
input tax credits
Thank You