KOLKATARESIDENTIAL

JANUARY TO JUNE 2015

RESIDENTIAL MARKET holds under pressure

Will Kolkata’s residential market remain steady or is there a decline envisaged? Will there be a growth in prices?Will the office market rebound to support the residential segment?

NEW LAUNCHES DROP MARGINALLY IN H1 2015 Y-O-Y

H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

12,0

33

7,74

2

8,44

4

11,8

91

8,37

2

8,89

5

7,05

0

6,39

0

6,24

5

5,88

3

Launches Sales

No

. o

f u

nit

s

PRICES DECLINE BY 3%

H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 3000

3100

3200

3300

3400

3500

3600

3700

3,352

3,467

3,6143,514

3,495

Wt. Avg. Price (RHS)

INR

/sq

.ft

PERIPHERAL LOCATIONS IN NORTH AND SOUTH WITNESS GROWTH

RAJARHAT, EXCLUDING NEW TOWN, MOST AFFORDABLE IN H1 2015

59% OF NEW LAUNCHES BELOW INR 2.5 MN IN RAJARHAT

<`2.5 mn `2.5-5 mn `5-7.5 mn `7.5-10 mn >10 mn0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Central East North Rajarhat South

INR

BT ROAD IN NORTH WITNESSING INTEREST DUE TO UPCOMING EXTENSION OF METRO RAIL AND GOOD CONNECTIVITY WITH SALT LAKE SECTOR V

RAJARHAT THE BEST PERFORMING MARKET, WHILE SOUTH KOLKATA SUFFERS

10 11 12 13 14 155

6

7

8

9

10

QTS

Ag

e o

f In

ven

tory CENTRAL

EAST

RAJARHAT

NORTH

SOUTH

PREMIUM MARKET WITH APARTMENTS MORE THAN INR 1.5 CRORE REFLECTS OVERALL CITY TREND

LAUNCHES AND WEIGHTED AVERAGE PRICES CONTRACT WHILE SALES STRIVES TO HOLD STEADY

H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 0

200

400

600

800

1000

1200

1400

1600

1800

2000

2200

8900

9000

9100

9200

9300

9400

9500

9600

9700

9800

9900

597

449

255

773 14

8

40

3

28

4

22

0

28

4

24

6

9,238

9,590

9,771

9,631

9,511

Launches Sales Wt. Avg. Price (RHS)

Nu

mb

er

of

un

its

OVERALL CITY AS WELL AS PREMIUM MARKET WILL TAKE A LITTLE OVER 4 YEARS TO EXHAUST THE UNSOLD UNITS

PREMIUM MARKET SALES TO CATCH UP WITH CITY’S SALES

Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-153.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

11.0

12.0

13.0

14.0

15.0

No

. o

f q

uar

ters

PREMIUM MARKETS

KOLKATA CITY

MARKET SENTIMENTS TO IMPROVE IN THE NEXT 6 MONTHS DUE TO AMPLIFIED OFFICE SPACE DEVELOPMENT, A RISE IN OFFICE SPACE ABSORPTION AND INCREASED HIRING ACTIVITY

OUTLOOK FOR THE NEXT 6 MONTHS

  LAUNCHES (UNITS)

SALES(UNITS)

WEIGHTED AVERAGE PRICE

(INR/SQ FT)

H2 2014 11,891 6,245 3,514

H1 2015 8,372 5,883 3,495

H2 2015 E 9,523 5,993 3,520

HOW DOES KOLKATA STAND COMPARED TO OTHER CITIES

LAUNCHES- KOLKATA LARGER MARKETTHAN HYDERABAD AND AHMEDABAD

  H1 2014 H2 2014

MUMBAI 35,512 26,833

NCR 35,500 37,643

BENGALURU 35,545 32,589

PUNE 16,883 16,700

CHENNAI 11,377 7,318

KOLKATA 8,444 11,891

HYDERABAD 7,899 5,151

AHMEDABAD 9,021 4,991

H1 2015

BENGALURU 21,400

MUMBAI 18,887

PUNE 12,762

NCR 11,360

CHENNAI 9,102

KOLKATA 8,372

AHMEDABAD 8,062

HYDERABAD 5,457

ABSORPTION - KOLKATA SEES LEAST

  H1 2014 H2 2014

MUMBAI 31,210 36,505

NCR 28,500 12,075

BENGALURU 27,256 28,445

PUNE 14,719 20,150

CHENNAI 10,315 10,643

AHMEDABAD 10,472 8,019

HYDERABAD 7,282 7,829

KOLKATA 6,390 6,245

H1 2015

MUMBAI 28,446

BENGALURU 22,234

PUNE 15,524

NCR 14,250

CHENNAI 9,091

AHMEDABAD 7,751

HYDERABAD 7,123

KOLKATA 5,883

SALES AMONG 8 CITIES

KOLKATA PRICES ON A STEADY PATH

H1 2012

H2 2012

H1 2013

H2 2013

H1 2014

H2 2014

H1 2015

H2 2015E

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Rs

/sq

ft

MUMBAI

PUNE

AHMEDABADHYDERABAD

KOLKATA

NCR

BENGALURU

CHENNAI

KOLKATA ONE OF THE YOUNGEST MARKETS; LEAST AGE OF INVENTORY

5 7 9 11 13 15 17 195

7

9

11

13

15

QTS

Age

of

unso

ld in

vent

ory

in q

uart

ers

MUMBAI

PUNE

AHMEDABAD

HYDERABAD

KOLKATA

NCR

BENGALURU

CHENNAI

KEY TAKEAWAYS

KOLKATAMARKET UNDER PRESSURE; SALES HOLDING ON

KOLKATAREAL ESTATE

JANUARY TO JUNE 2015