A very Happy New Year to all our readers!

The 7th edition of PropIndex comes when real estate markets across the countryhave stabilized, home loan interest rates are finally coming down thanks to somevery welcome measures by the Reserve Bank of India. Also a hint by the Ministerfor Housing that affordable housing will get industry status and the bag of goodiesthat the announcement brings with it. Exciting times to make a good investmentin a house.

We have studied supply and demand trends to help you figure out what the bestdeals should cost. Even as we wait for the Finance Minister to unveil on what is instore for the real estate sector in the Union Budget, data and statistics already spellgood news. All Indian markets have posted stable values. The National Index is up3 points. The Noida market has shrugged off the land acquisition blues and hasposted positive growth. Ghaziabad emerged as the fastest growing real estate hub.Developers have continued to boost supply of luxury housing in the quarter,reflecting their continued confidence in the markets. The government’s move toboost affordable housing is well timed as buyers too have shown their optimism.

You have now got used to getting something new in each issue of PropIndex. Andwe cannot let you down. This issue carries the top 10 preferred cities by demandfor lease and sale at the city and locality levels. Demand analysis has beenpresented in an easy-to-use bulleted version. Also, read what industry experts sayon the prospects of each city. And, importantly, we now make it possible for you tosimply log in and read your PropIndex anytime anywhere – we are delighted tolaunch a soft copy of PropIndex to be accessed on Magicbricks.com!

PropIndex is based on listed properties and requirements on Magicbricks.com.These are evolved into statistics, cleaned up and experts consulted to analysetrends. For developers and agents, the changing patterns of demand is a clue towhat the buyers are looking for. For the buyer, these analytics give a crediblebenchmark against which to make property investments. Globally, real estateinvestments are driven with meticulous research. Clubbed with the various adviceinitiatives that are available to you on magicbricks.com, you as a buyer will be ableto make informed decisions.

With PropIndex into its 7th quarterly edition, we now have a bank of very usefultrends and content about market performance at a city/locality level. You may alsovisit MagicBricks.com and explore all our content/research sections which carryample information about property markets, news and trends. Do share with uswhether PropIndex has helped you in understanding property markets better andin making a more intelligent real estate decision. Our team puts its effort inimproving each new edition to meet this stated objective of PropIndex. Your inputswould direct our efforts much better. Do write in!

FOREWORD

Sudhir PaiBusiness Head, MagicBricks.comsudhir.pai@timesgroup.com

MagicBricksPropIndexMagicBricks.comPropIndex is a tool whichempowers propertyseekers and investors withdetailed information onthe movement ofresidential apartmentprices and supply ofproperties in India. Nocredible property indexcan be a function of directvalues as the changes aregoverned by multiplefactors.

MagicBricks.comPropIndex has taken thisreality into account andproduced an index basedon listing of apartmentsand their capital andrental values on thewebsite.

MagicBricks.com has over 400,000 active propertiesposted by more than1,00,000 active users in 300cities and 3,500 localities.Our users include owners,agents and developers.

MethodologyApartment values arebased on listings onMagicBricks.com. Theseinclude multistoreyapartments and singleunits on plotteddevelopments, referred toas builder floors onMagicBricks.com.

The Index is structured in

such a way that individualproperties are aggregatedinto their respective citiesand then to the NationalIndex. Weightages forPropIndex are based on thesupply of propertieswithin the locality/city.Based on this structure,PropIndex gives a realisticpicture of trends inprice/supply acrossdifferent property marketsin each city. We have useddifferent weightages forListed Price Monitor/RentMonitor. Therefore, read asa whole, PropIndex alongwith tables provided forListed Price Monitor, RentMonitor, Yield Monitor andCapital Values, gives anexcellent perspective ofthe property marketperformance in thequarter.

While listing and itsvalues/supply provide alevel of understandinginto the market, there aremeticulous data checks toprevent aberrationscreeping into the Index.These are based onstatistical calculations,industry inputs and logicalinterpretations.

The National PropertyIndex (NPI) is indicative ofthe extent of activity aswell as price movementsacross cities and localitiesin the major cities activeon MagicBricks.com. Theindex includes the top 11

cities (these have beenchosen based on theiractivity levels) and has anindividual city report foreach of these cities. Whilethe NPI and its movementsare of interest to theexpert community ofbankers, builders andinvestors, the PropIndexhas also taken care toexplain the nuances ofindex movements at thelocality level that wouldhelp the huge base ofMagicBricks.comconsumers.

Insights into consumerdemand have beengathered through analysisof search information onthe site. This helpsunderstand the bestlocalities by demand, thetype and configuration ofunits as well as the budget-wise preferences.

The PropIndex is the resultof meticulous research atthe locality level andthrough detaileddiscussions with experts atMagicBricks.com’s offlineand online initiatives.

The Indian real estatemarket is dynamic and thePropIndex reflects thosechanges. Since it is derivedfrom a dynamic database,additions and deletions oflocalities happen as afunction of marketdynamics.

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 Oct-Dec 2012 quarter from many different perspectives – from that of capital appreciation, from a rental/yieldrealisation perspective and from the stand of supply of properties. Also understand what consumers want in theDemand Analysis section.

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 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/ drops. 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/drops. However, in a few selected 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, 2012 and Jul-Sept, 2012 quarters.

7. Realty News – Property market performance is also dependent on drivers outside the purview of buyingand selling. There are broadly four key drivers that determine the prospects of real estate – infrastructuresuch as water and power, transport links creating new growth corridors, policy such as rental laws, propertytax, etc and return on investment. From this issue onwards, PropIndex focuses on news bytes that impactfuture prospects of real estate in the city.

GLOSSARY & DEFINITIONS

OCT-DEC 2012

The National Property Index(NPI) went up by 3 per cent in theOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter. TheNPI is a weighted average ofsupply and prices across 11 citiesin India.

Of the 11 cities in the apartmentindex, nine saw a marginal risewhile one recorded stable valuesand the other registered a smalldrop in the city index. Ghaziabad,Mumbai, Hyderabad, Pune, Delhi,Kolkata, Chennai, Gurgaon andNoida witnessed rise in city indexvalues. On the other hand,Ahmedabad registered stablevalues and Bangalore remainedlargely stable with a small 2 percent drop in the city index valueduring the Oct-Dec 2012 quarter.

Ghaziabad topped the city indexchart by registering a 5 per centincrease, followed by Mumbai,Hyderabad, Pune and Delhi, witha 3-4 per cent rise. Kolkata,Chennai, Gurgaon and Noida sawa rise of 1-2 per cent.

The NPI is a weighted average ofcity indices. Mumbai, Gurgaon,Pune and Noida were the majorcontributors to the NPI. TheMagicBricks.com PropIndex isbased on dynamic data minedfrom the portal to show levels ofsupply and the type of propertylisted in each locality. These arecleaned with complex algorithmsto remove outliers and arrive atthe index values at locality, cityand national levels.

The Index is impacted by thenumber and average price ofproperties in each locality and thelocality’s weightage in the city.This is based on its contributionto the city’s property data bank.The listings on the website are byend users and market participantsand the index is based on a mix ofnewly developing and establishedlocalities. New and oldconstructions are also a part ofthe listings.

The composite index value of acity draws from the changingindex values of different localitiesin that city. Localities that were

more active compared to otherscan contribute significantly to theindex values of that city. Thisindex is reflective of trends acrossmulti-storey and single floorapartments (commonly known asbuilder floors) around 11 cities.

n The National Property Indexrose by 3 per cent.

n Maximum consumerdemand (24 per cent)registered for residentialproperty between Rs 30-50 lakh

n Six out of 11 citieswitnessed over 65 per centdemand for multi-storeyapartments.

n Ahmedabad, Hyderabadand Bangalore witnessedmaximum consumerdemand for villas

IN THIS REPORT:

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

Delhi.........................................4

Gurgaon...................................10

Noida & Ghaziabad................... 16

Mumbai....................................24

Pune........................................30

Ahmedabad..............................36

Kolkata...........,........................ 40

Chennai....................................46

Hyderabad................................52

Bangalore.................................59

Annexures.................................66

NATIONAL PROPERTY INDEX (NPI)

VOL 2, ISSUE 3; OCT-DEC, FY 2012-13

OCT-DEC 2012

2VOL2, ISSUE 3; OCT-DEC, FY 2012-13

NATIONAL PROPERTY INDEX

l Maximum consumer demand(24 per cent) registered forresidential property between Rs 30-50 lakh

l Affordable properties in theprice bracket of up to Rs 20lakh, witnessed the secondhighest demand (16 per cent).

l Except Mumbai and Gurgaon,2BHK remained the mostpreferred category across India.

l 1BHK and 3BHK categorieswitnessed maximum consumerdemand in Mumbai andGurgaon respectively.

In the Oct-Dec 2012 quarter,Ahmedabad city index remainedunchanged. Low rate oftransactions led to a stagnantproperty market in the quarter.

Despite a rise and fall in capitaland rental values in certainlocalities, the city index, the listedprice monitor as well as the rentmonitor remained unchangedduring these three months.

The Bangalore city indexwitnessed a drop of 2 per cent inthe Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter that rose by 7 per cent.Bangalore real estate marketrecorded no increase, reflecting astable market. This was primarilydue to continued buyer interest.Driven mainly by the IT industry,the over cautious approach tobuying in the beginning of 2012,has shifted more towards thepositive scale. By and large, theBangalore residential marketmanaged to maintain its steadypace, showing no great tilt.

The Chennai property index roseby 2 per cent during the periodOct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatremained unchanged. TheChennai listed price monitorrecorded a slight increase at 1 percent for the same period,reflecting a stable market. Thiswas primarily due to the buyerscontinuing with the conservativeattitude towards buying. Theoutskirts recorded a rise incapital values primarily, withcertain notable exceptions, due tothe presence of IT companies.

The Delhi index witnessed asmall increase of 3 per centquarter-over-quarter in the lastsix months. On the other hand,the listed price monitor saw adrop of 1 per cent within the Oct-Dec 2012 quarter. Rates havecontinuously moved up. Over 54per cent of localities in the citywitnessed growth in averagerental values and more than 45per cent of the localities in thecity registered rise in averagecapital values. These are RohiniSector-24, Malviya Nagar, Kalkaji,Uttam Nagar and VasundharaEnclave.

The Ghaziabad index witnessed a5 per cent increase - the maximumby any city, in the Oct-Dec 2012quarter. The average listed pricemonitor rose by 2 per cent duringthe quarter. The price monitorhad increased by 1 per cent in theJul-Sept 2012 quarter. Theperformance of the suburb wastriggered by sharp growth invalues in areas such as CrossingsRepublik, Bhopura andVasundhara, which sustainedtheir last quarter’s growth of 11,10 and 8 per cent, respectively.This pushed the city indexupwards.

The Gurgaon city index rose by 2per cent during the Oct-Dec 2012quarter. Dwarka Expressway,sectors 57 and 82 are some primelocalities in the city which havedone exceedingly well in this

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 level - Consumer Budget Preference

30%

25%

20%

15%

10%

5%

0%

16% 15%

24%

14% 13%11%

7%

Top Preferred Cities

Rank WiseCities Buy Rent

Mumbai 1 1

Bangalore 2 2

Pune 3 3

New Delhi 4 4

Hyderabad 5 7

Chennai 6 5

Ahmedabad 7 10

Gurgaon 8 6

Kolkata 9 8

Noida 10 9

3VOL2, ISSUE 3; OCT-DEC, FY 2012-13

quarter. The reason behind thewellness of these localities couldbe the new constructions whichare rapidly taking place. Manyresidential complexes and officespaces are coming up. Upcomingnew stock and increase in averageproperty prices in the newdeveloping sectors in the citytilted the index upwards.

The Hyderbad city index rose by3 per cent during the Oct-Dec 2012quarter. The listed price monitorof the city witnessed an increaseof 1 per cent during the samequarter. Across the city only 21per cent of the total localitieswitnessed an increase in averagecapital values. This has arrestedthe growth rate of the listed pricemonitor. Localities such as ECIL,Kondapur and Banjara Hillswitnessed the maximum increasein average prices.

The Kolkata property index roseby 3 per cent during the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter thatwitnessed growth by a mere 1 percent. An important factor thatcontributed to the growth of thereal estate sector in Kolkata wasrestricted supply, which led to asurge in demand. Severalinfrastructure projects across thecity pushed the real estate marketin several parts of the city. Metro,flyovers, beautification of roads

and EM Bypass impacted realestate values positively.

The Noida index witnessed just 1per cent rise in the city indexvalue. Noida realty is coming backto normalcy after thecontroversies surrounding landacquisition and problems offarmers’ agitation. The double-digit increase in capital values ofsectors 75 and 93 along withmoderate increase in Sectors 62,74, 82 and 143 helped the Noidalisted price monitor in posting avery small growth. The proposedimprovements in physicalinfrastructure such as the metroand roads along with themushrooming offices remained atrigger for growth in the capitalvalues of Noida

The Pune city index rose by 3 percent during the Oct-Dec 2012quarter as compared to the 4 percent rise experienced in the Jul-Sept 2012 quarter. Demandwas more visible for ready-to-move-in units as well as for largerapartments. The residentialmarket recorded positive trendswith capital values moving up by2-10 per cent in different localities.Nearly stable rental values werewitnessed in almost 50 per cent ofthe localities across the cityduring the Oct-Dec 2012 quarter.Localities in close proximity to IThubs continued to register

increased rental demand, pushingup rental values.

Unlike the Jul-Sept 2012 quarter,the Mumbai index rose by 4 percent during Oct-Dec 2012 quarter.A surge in average listing priceowing to steady demand pushedthe city index up. However, lowtransaction rates were witnessedin the city. Maximum activity tookplace in the outskirts of Mumbaisuch as Navi Mumbai and Panvel.

TOP YIELD GROSSERS

Rental yield is a factor of the changes inrental values locality-wise vis-à-vis thechanges in capital values. Given beloware the top yield-grossing localities ineach city

Locality Gross yield

Bangalore, Electronic City 5.59%

Hyderabad, Nizampet 5.10%

Kolkata, EM Bypass 5.00%

Chennai, OMR 4.87%

Ahmedabad, SG Highway 4.55%

Noida, Sector-92 3.47%

Gurgaon , Sector-31 3.43%

Pune, Viman Nagar 3.12%

Mumbai, Powai 2.99%

Ghaziabad, Indirapuram 2.90%

Delhi, Mayur Vihar Phase-I 2.41%

CAPITAL GAINS

The table given below indicates maximum increase in capital values in each city

Locality % Change

Kolkata, EM Bypass 12.75%

Noida, Sector-75 12.27%

Delhi, Rohini Sector-24 11.97%

Ghaziabad, Crossings Republik 11.30%

Gurgaon , Sector-85 11.11%

Chennai, Valasaravakkam 10.55%

Mumbai, Pokhran Road 9.84%

Bangalore, Koramangala 9.35%

Pune, Wanowrie 8.96%

Hyderabad, ECIL 7.95%

Ahmedabad, Bopal 3.25%

MUMBAI 24VOL2, ISSUE 3; OCT-DEC, FY 2012-13

CITY PROPERTY INDEX

The Mumbai Index increased by 4 per cent during the period Oct-Dec 2012. The NPI rose by 3 per cent in the Oct-Dec 2012quarter.

Almost all localities havewitnessed a rise in capital values.The listed price monitor has alsoregistered an increase of 2 percent during the same quarter.

Rise in capital values of localitiessuch as Goregaon East, AndheriEast, Malad East, Khar West,Ghodbunder Road, Bandra Westand Koper Khairane wereresponsible in bringing the listedprice monitor up in comparison tothe Jul-Sept 2012 quarter.

The yield meter ranged between1.83-2.99 per cent in the Oct-Dec 2012 quarter. Powaiposted the highest yield at 2.99

per cent, inspite of rental valuesremaining stable over the six-month period. The presence ofmajor corporate offices such asColgate Palmolive, Nestle,Prudential, Wipro, FedEx, JetAirways and Deloitte, amongothers, and good connectivitymakes Powai a good rental optionfor professionals working in andaround the area.

Palm Beach posted the lowestyield at 1.83 per cent in the Oct-Dec 2012 quarter. “As there are no new ready-to-move-in

apartments available in PalmBeach, occupancy rate in thelocality is almost negligible,” saysKetan Tanna, owner Twin CityRealtors, a city based realty firm.

LISTED PRICE MONITOR

The residential market inMumbai continued to show anupward trend in capital pricesduring the Oct-Dec 2012 quarter asper MagicBricks.com data.

Prices have gone up by 1- 8 percent in different localities. “In

Price Monitor indicates 2% increase in average sale price

L I S T E D P R I C E M O N I T O R

PROPINDEX - MUMBAI

Locality RankQ3 Q2

Andheri East 1 6

Andheri West 2 1

Kharghar 3 2

Mira Road 4 3

Goregaon East 5 7

Kandivali East 6 4

Powai 7 5

Borivali West 8 8

Malad West 9 9

Chembur 10 -

Top Preferred Localities

Note: Q3 Oct-Dec 2012, Q2 Jul-Sep 2012

2%

MUMBAI25VOL2, ISSUE 3; OCT-DEC, FY 2012-13

2012, especially around the festiveseason, the Mumbai residentialreal estate market showed signs ofrevival after nearly 15 months ofsluggishness, driven by increasein demand and steady pricing”,says Vinay Sagani, Vice-President,Ajmera Group of Companies.

Few localities have registered anoticeable rise in the last threemonths. For instance, GoregaonEast, Andheri East, Malad East,Khar West and Ghodbunder Roadrecorded a rise of 7-8 per cent incapital values while Bandra Westand Koper Khairane witnessed anincrease of 5-6 per cent during the

same period.

“Asking values in these localitiesmay have risen owing to thesteady demand but there are fewactual transactions taking place”,says Harjinder Singh Bahal,proprietor, Guru Nanak PropertyDealers.

Areas such as Khargar, Chembur,Mira Road, Kandivali East, ThaneWest, Virar and Kamothe haveshown a sign of revival byregistering a rise of 1-4 per cent invalues of multi-storeyapartments.

“Due to the availability of land in

areas such as Thane and Virarthere are many developers comingup with their projects. This, inturn, is pushing the prices upeach quarter. These markets aredriven by investors as well as endusers. Low rates are attractingboth the segments. Investors are

RENT MONITOR

Rent Price Percentage Change

n Powai posted the highest yield at 2.99per cent, inspite of rental valuesremaining stable over the six-monthperiod owing to high demand fromprofessionals working around the area.

n Palm Beach posted the lowest yield at1.83 per cent in the Oct-Dec 2012 quarter.A drop of 0.17 per cent in the gross yieldwas onserved in comparison to Jul-Sep 2012 quarter.

Y I E L D M E T E R

In 2013, demand in the affordablesegment will continueto grow. A fall ininterest rates will alsoboost the economy andthe sales. Also,industrial policy,township policy andrental housing schemeare expected to take off.

V SureshPrincipal ExecutiveOfficer, HIRCO

QUICKSTATS

n Yield Meter: Yield ranges between1.83% to 2.99%

n Capital Values rose in 76% localities

n Rental Value rose in 60% localities

n City Index rose from 117 to 121

n Price Monitor rose from 119 to 121

MUMBAI 26VOL2, ISSUE 3; OCT-DEC, FY 2012-13

expecting a healthy profit,” addsBahal. However, localities such asBorivali East and Juhu havewitnessed no increase in the lastquarter. “These are alreadydeveloped areas. The prices arealready high and also there is noland available for newconstruction. Hence, the priceshave been stable in the area”, saysShashikant Mishra, proprietor,Royal Max Realtors and PropertyManagement.

Areas such as Ghatkopar Westand Powai have seen a dip of 1and 2 per cent respectively.Ghatkopar is a community-based

area. Here, the demand is mostlyfrom Parsees and Gujaratis.“There are many new projectscoming up in and around Powai.Most of them are underconstruction. The newlydeveloped and ready-to-move-inapartments offer 3-4BHK units.But these come with a high pricetag and are targeted at thoselooking to accommodate theirextended family, ” says a citybased broker, KR Srinivasan ofReliable Realty Property Dealers.Many feel it is the high net worthindividuals working in andaround Powai who can afford tobuy in the area.

RENT MONITOR

The rental market in Mumbai haswitnessed varying trends indifferent localities during the Oct-Dec 2012 quarter.

Rents dropped in localities suchas Worli, Goregaon East andWadala by 2-6 per cent. Theresidential property prices are ata peak in these locations. Thisrestricts investors to block hugemoney and further pushes therental market downwards.

On the other hand, Prabhadevi,Colaba, Andheri East, BandraWest, Vashi, Sewri, GhodbunderRoad, Kandivali East and MaladWest saw rental values increaseby 1-5 per cent in the Oct-Dec 2012quarter.

Places such as Chembur, whererental values were stable in theJul-Sep 2012 quarter havewitnessed a rise by 5 per cent inthe Oct-Dec 2012 quarter. Realtorsattribute this rise to the easyconnectivity, high demand andaffordable rents.

“Chembur-Wadala phase ofMonorail project is in anadvanced stage of construction.The prominent office markets ofBandra Kurla Complex(BKC) andLower Parel are located within adistance of 12 km from Chembur.This makes it a preferred locationto stay”, says, Grirsh Khithani,GK Rental Solutions. Localitiessuch as Powai, Goregaon West,Juhu, Koper Khairane, Mira Roadand Palm Beach posted stablerental values due to subdueddemand.

Ready reckoner rates up by 30% Notwithstanding high property prices the state government hasraised ready reckoner (RR) rates for Mumbai by up to 30%. Theincrease will come into effect from January 1, 2013, and willprimarily affect areas like Prabhadevi, Cuffe Parade and Worli.Last year, the average increase for the city was 18%. The RR isused to calculate the market value of flats for stamp duty andregistration charges, which are major sources of revenue for thegovernment after sales tax and value-added tax (VAT). Propertyexperts say the increase will not substantially affect transactionsconcerning new flats, as the rates quoted by developers are 40-80%higher than those in the RR

n The Times of India, Delhi/NCR

Companies look at redevelopment projects As developers are finding it difficult to acquire fresh land parcelsin the city, redevelopment and slum rehabilitation projects seemto be the solution to the sky-rocketing land prices and its scarcityin the Mumbai Metropolitan Region (MMR). “With slumredevelopment, large parcels of land can be opened up for properdevelopment, thereby adding to supply in congested areas andexerting downward pressure on existing property rates,” saysAshutosh Limaye, head REIS and research, Jones Lang LaSalleIndia. Firms such as Akruti Nirman, HDIL, Unitech Ltd andHiranandani Group among others have already entered this space.

n MagicBricks.com Bureau

Mumbai’s property market is now moving towards transparency. New peripheral areas in the region have taken thecentrestage in this market. Policy changes such as those relating to redevelopment, rental housing is now the buzz in theregion. The future holds bright as prices have not yet reached their peak.

To read full story and more news go to www.content.magicbricks.com

With better clarity on thenew DCR regulations,2013 will see moreprojects launch onschedule. Given theincreased demand, thehigh prices of land andthe significant increase inconstruction costs, 2013will not bring any majorcorrection.

Vinay SaganiVice PresidentAjmera Group of Companies

Top Preferred Rental LocalitiesNew

Locality RankOct-Dec’12

Andheri East 1

Andheri West 2

Powai 3

Goregaon East 4

Malad West 5

Bandra West 6

Kandivali East 7

Kharghar 8

Chembur 9

Mira Road 10

R E A L T Y N E W S

MUMBAI27VOL2, ISSUE 3; OCT-DEC, FY 2012-13

Budget wise Analysis - DEMAND

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

Q2 Q3

5657

Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3

15

12

10

6

12

10

18

<20 lakh Rs 20-50 lakh Rs 50-100 lakh Rs 1-2 crore Rs 2 crore and above

1212

27

31

20

10 9

20

24

35

4136

23

22

14 13

14

26

1515

22

31

24

8 6

23

25

31

735

45

11 9

46

30

13 20

52

23 22

53

177

6

Budget wise Analysis - SUPPLY

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

Q2 Q3

9290

Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3

<20 lakh Rs 20-50 lakh Rs 50-100 lakh Rs 1-2 crore Rs 2 crore and above

1519

42

24

9

6

11

25

45

8177

17 13

2723

28

28

1715

27

29

14

42

36 37

43

1437

44

10

47

37

98

l Similar to the Jul-Sept 2012quarter, maximum demand wasobserved for properties in thebudget range of Rs 20-50 lakh inthe Oct-Dec 2012 quarter too.

l Demand for high end propertiesshowed an upward trend withproperties in the Rs 1-2 crore range registering a significant riseof 8 per cent in demand ascompared to the previous Jul-Sept 2012 quarter.

l Availability for high endproperties showed a rise withsupply inching up by 4 per cent inthe Oct-Dec 2012 quarter ascompared to the Jul-Sept 2012quarter for units above Rs 2 crore.

l Buyer interest for properties indifferent budget categories variedfrom one zone to another. Bothsouth and central Mumbairecorded a maximum demand forproperties worth above Rs 2 crore,a trend that was evident even inthe Jul-Sept 2012 quarter.

l While south Mumbai recorded arise of 5 per cent in the 2 crore andabove category with localities suchas Prabhadevi and Worli being themajor contributors, demand incentral Mumbai remained largelystable since the Jul-Sept 2012quarter.

l Demand for budget propertiesworth up to Rs 50 lakh was limitedto localities in Thane with nearly75 per cent of the buyers showingan interest in this category.

l Supply was limited in the budgetcategory of up to Rs 20 lakh with adrop of 1-5 per cent in the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter acrossall zones except central zone.

100

80

60

40

20

0<20 20-50 50-100 100-200 200 &

above

11Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

9

31 30 29 24

17

25

11 12

(Jul-Sep 2012)

(Oct-Dec 2012)

Budget wise Analysis - City Level

DEMAND

100

80

60

40

20

0<20 20-50 50-100 100-200 200 &

above

5Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

3

24 2330 29

23 2318

22

(Jul-Sep 2012)

(Oct-Dec 2012)

SUPPLY

BUYER DEMAND ANALYS I SBudget Wise Analysis

The first graph (Budget Wise Analysis-City Level) compares the availability of residentialproperties in five budget ranges in two consecutive quarters: Jul-Sept 2012 and Oct-Dec 2012. Thenext two graphs (Budget Wise Analysis-Demand and Budget Wise Analysis-Supply) depictconsumer preferences over the last two quarters in different zones. The city is divided into sixzones - South Mumbai, Central line, Central Mumbai, Western Suburbs, Navi Mumbai and Thane.

5 55 5

MUMBAI 28VOL2, ISSUE 3; OCT-DEC, FY 2012-13

Property wise Analysis - City Level

100

80

60

40

20

0

87 88

12 101 2

(Jul-Sep 2012)

(Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Residential Residentialapartment house plot

DEMAND SUPPLY

100

80

60

40

20

0

8187

18 12

1 1

(Jul-Sep 2012)

(Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Residential Residentialapartment house plot

Property wise Analysis - DEMAND

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

Multistorey apartment Residential house Residential plot

Q2 Q3 Q2 Q3

8289 90

Q2 Q3

86 88

Q2 Q3

87 89

Q2 Q3

87 88

Q2 Q3

83 8483

16 15 10 9 13 11 12 10 10 9 14 14

Property wise Analysis - SUPPLY

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

Multistorey apartment Residential house Residential plot

Q2 Q3 Q2 Q3

84 87 89

Q2 Q3

86 89

Q2 Q3

82 87

Q2 Q3

78

88

Q2 Q3

79

8487

15 12 12 11 13 10 17 12 21 11 18 15

l Demand and supply remainedlargely restricted to multi-storeyapartments with more than 85 percent buyers showing preference for the said category.

l Moderate demand and supply was witnessed for residentialhouses while market for plotsremained low.

l More than 80 per cent demand wasregistered for multi-storeyapartments across all zones with aslight rise of 1-2 per cent from theJul-Sept 2012 quarter.

l Buyer interest declined slightly forresidential houses with a dip of 1-2per cent noted in demand for theseproperties across all zones exceptin Thane where the demandremained stable.

l As observed in the Jul-Sept 2012quarter the Oct-Dec 2012 quarteralso witnessed low user interest for residential plots with demandremaining stable over the Jul-Sept 2012 and Oct-Dec 2012quarters.

l Supply of multi-storey apartmentsshowed an upward trend across allzones with a rise of 2-10 per centrecorded from the Jul-Sept 2012quarter with the maximum risenoted in Navi Mumbai.

l Considerable drop in supplyvarying from 1-10 per cent wasnoted for residential houses in allzones with maximum fallregistered in Navi Mumbai.

l Corresponding to the low demand,supply also remained subdued forplots across the city. Theavailabilty of these units remainedstable as compared to the Jul-Sept 2012 quarter.

Property Wise Analysis

While multi-storey apartments are the conventional mode of investment, other property typessuch as single floor units, residential plots, residential houses and villas also find several takers.The first graph (Property Wise Analysis - City Level) depicts how demand and supply statistics fordifferent property types have changed over a period of six months at the city level. Buyer demandremained largely stable across property types in the Oct-Dec 2012 quarter as compared to the Jul-Sept 2012 quarter. The subsequent graphs (Property Wise Analysis-Demand and Property WiseAnalysis-Supply) indicate how the demand and supply for different property types have changedfrom the Jul-Sept 2012 quarter to the Oct-Dec 2012 quarter at the zone level.

MUMBAI29VOL2, ISSUE 3; OCT-DEC, FY 2012-13

BHK Configuration - DEMAND

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

1 BHK 2 BHK 3 BHK 4 BHK & above

Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3

3429

38

27 24

36

3937

43

17 16

42

3333

39

23 23

38

4544

38

1514

38

4441

45

13 12

43

5555

368

736

6 6 6 7

BHK Configuration - SUPPLY

120

100

80

60

40

20

0

Q2 (Jul-Sep 2012)

Q3 (Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

South Mumbai Central Line Central Western Navi Mumbai ThaneMumbai Suburbs

1 BHK 2 BHK 3 BHK 4 BHK & above

Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3 Q2 Q3

1111

34

38 33

34

2724

41

28 27

42

1113

36

38

293134

38

22 25

38

3332

48

16 15

50

4043

43

13 12

46

17 22 217 14 6 6

37

BHK Configuration - City Level

100

80

60

40

20

0

43 4540 39

15 14

2 2

(Jul-Sep 2012)

(Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

1BHK 2BHK 3 BHK 4BHK &above

DEMAND SUPPLY

100

80

60

40

20

0

32 30

41 42

21 22

6 6

(Jul-Sep 2012)

(Oct-Dec 2012)

Fig

ures

in p

erce

ntag

e(%

)

1 BHK 2BHK 3 BHK 4BHK &above

l An increase of 2 per cent wasobserved in the demand for 2BHKunits in the Oct-Dec 2012 quarteras compared to the Jul-Sept 2012quarter. It was also the mostdemanded category.

l Demand in all other categorieseither dropped slightly orremained stable in the Oct-Dec 2012quarter viz-a-viz the Jul-Sept 2012quarter.

l Highest supply was recorded for2BHK units. However, supplyremained largely stable in the Oct-Dec 2012 quarter as comparedto the Jul-Sept 2012 quarter.

l As per the MagicBricks.com data,Thane and Western Suburbsshowed a clear preference for1BHK units while, 2BHKs were thepreferred size along the CentralLine and Central Mumbai.

l Almost equal demand was notedfor these two categories in southand Navi Mumbai. Demand for1BHK saw an increase of 3-5 percent from the Jul-Sept 2012 quarter,while demand declined for 2BHKunits by 2 per cent in both zones.

l A significant drop of 7 per cent insupply was registered for 2BHKunits in the Oct-Dec 2012 quarteras compared to the Jul-Sept 2012quarter in Central Mumbai.

l The maximum supply for 1BHKunits was noted in Thane, thoughavailability dropped by 3 per centfrom the Jul-Sept 2012 quarter inThane.

l South and Central Mumbai sawincreased supply of units in 4BHKand above with availability inchingup by 5-7 per cent from the Jul-Sept 2012 quarter.

BHK Configuration Analysis

The size and configuration of an apartment are important criteria while making a propertybuying decision. The graph ‘Budget Configuration-City Level’ represents the demand and supplyof 1, 2, 3, 4 BHK apartments in the city in two consecutive quarters namely Jul-Sept 2012 and Oct-Dec 2012. It depicts how the buyer preferences have changed over the last two quarters: Jul-Sep 2012 and Oct-Dec 2012 and compares the availability of these units in the two quarters.The following graph (BHK Configuration-Demand) gives a comparison between the buyer demandfor various configurations in different zones in the two quarters. The last graph gives an accountof how the availability of these units has changed across zones during these two quarters.

ANNExURES

Airoli 7150 to 8600

Andheri East 13800 to 17350

Andheri West 16550 to 20950

Badlapur 2800 to 3400

Bandra West 31700 to 40350

Belapur 7600 to 9200

Bhandup West 10800 to 12950

Bhayandar East 5500 to 6350

Borivali East 9500 to 12400

Borivali West 11050 to 13350

Breach Candy 52100 to 72650

Chembur 13400 to 16300

Cuffe Parade 55900 to 72300

Dadar East 29350 to 37050

Dahisar East 7350 to 9600

Dahisar West 10350 to 12350

Dombivli East 4400 to 5200

Ghansoli 6600 to 8100

Ghatkopar West 11950 to 14550

Ghodbandar Road 7100 to 8450

Goregaon East 12600 to 15750

Goregaon West 12350 to 15450

Jogeshwari East 13500 to 18300

Juhu 26100 to 32400

Kalyan 4200 to 5200

Kalyan West 4450 to 5450

Kamothe 4950 to 5550

Kandivali East 11950 to 14750

Kandivali West 10500 to 12900

Kanjur Marg East 10600 to 13250

Khar West 28100 to 35300

Kharghar 5950 to 7350

Kolshet Road 7950 to 9400

Koper Khairane 7600 to 9500

Lower Parel 25600 to 32400

Mahalakshmi 25300 to 33950

Majiwada 9450 to 11300

Malad East 11950 to 14250

Malad West 12700 to 15700

Manpada 8800 to 10300

Marine Drive 22750 to 24600

Mira Road 5500 to 6650

Mulund West 11100 to 14200

Nallasopara 3950 to 5100

Nepeansea Road 52450 to 70500

Nerul 8150 to 10300

New Panvel 3300 to 4350

Palm Beach 12650 to 15750

Panvel 3600 to 4750

Parel 21650 to 27350

Pokhran Road 9450 to 11100

Powai 13100 to 16200

Prabhadevi 32450 to 41900

Road Pali 4750 to 5550

Sanpada 9450 to 11800

Santacruz East 14850 to 18750

Santacruz West 26200 to 34150

Seawoods 7850 to 9650

Sewri 32350 to 40850

Sion 14400 to 19000

Taloje Panchanand 3400 to 3850

Thane West 8600 to 10900

Ulwe 4150 to 4750

Vasai 4050 to 5050

Vasant Vihar 9400 to 11350

Vashi 8550 to 11350

Vile Parle East 20900 to 25900

Virar 3950 to 4800

Wadala 17100 to 20350

Worli 29300 to 39550

MUMBAI71VOL2, ISSUE 3; OCT-DEC, FY 2012-13

CAPITAL VALUES – LOCALITY WISE

Average Listed Residential Apartment Prices

Locality Capital Values (Rs/Sq feet)

Locality Capital Values (Rs/Sq feet)

MUMBAI

D I S C L A I M E REvery effort has been made to make this Index as complete and as accurate as possible. MagicBricksaccepts no responsibility for inaccuracies in the information/data contained in this book. It shall haveneither liability nor responsibility to any person or entity with respect to any loss or damage caused, oralleged to have been caused, directly or indirectly, by the information contained in this book. Theinformation/data in this book is subject to change from time to time due to market condition.

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PROPINDEX TEAM

l Content & Research: E Jayashree Kurup,

Dipti Tandon, Rishab Jain, Sruthi Kailas,

Indrani Rajkhowa Banerjee, Neha Nagpal,

Shradha Goyal, Bhawna Mongia, Namrata

Ekka, Ajay Modi, Renu Arya, Devesh Chandra

Srivastava, Puneet Kukreja & Bikash Kumar,

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VOL2, ISSUE 3; OCT-DEC, FY 2012-13DELHI