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PropIndex | Magicbricks BengaluruJuly-Sep 2020

Residential Market Insights

Bengaluru residential market on the path of recovery after Unlock 2.0

Bengaluru residential market has scaled back to normalcy as searches for property grew by 47% in Q3 afterwitnessing a fall of 14% in Q2 amid COVID lockdown.

During pandemic times, consumer preference in Benglauru was focused in peripheral areas. A clear demand shift waswitnessed in the quarter, as searches increased for properties costing less than INR 5,000 per sqft.

Interestingly, Magicbricks data suggests that the distribution of consumer searches amongst the BHKs and sizebuckets in Bengaluru remained unchanged pre COVID vis-à-vis post-COVID, indicating that home buyers are retainingsize preference but reducing budgets to move to the periphery.

Market DynamicsParameters India Bengaluru

Demand+ 53.1% 47.5%Supply++ -9.1% 2.9%Price Index+++ 0.3% -0.5%

Notes:Above parameters represent QoQ change in Q3 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Ready to Move Price Index

2016

2017

2018

2019

2020

2021

4,000

4,500

5,000

5,500

6,000

6,500

7,000

Average Price INR per sqft

"Price declinearrested to just 0.5%in Q3 2020, postlifting of thelockdown."

5 Years YoY QoQ

-0.5%-1.8%19.3%

Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research

Key Developers based on activelistings

Prestige Estates

SOBHA Ltd.

Brigade Enterprises

Mahaveer Group

Puravankara Ltd.

Salarpuria Sattva Group

DS-MAX Properties

SNN Builders

Shriram Properties

Assetz Property Group

Godrej Properties #

#

#

#

#

#

#

#

#

#

#

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q32020


Under Construction Price Index

2016

2017

2018

2019

2020

2021

4,000

4,500

5,000

5,500

6,000

6,500

7,000

Averge Price INR per sqft

"Under Constructionproperties continued tobe sluggish and posteda 1.5% price dip in Q3

2020."

5 Years YoY QoQ

-1.5%-1.1%26.6%

Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city.


Key Projects

Project Name Locality

Lakeside Habitat Whitefield

Peninsula Paramount Sarjapur

Sobha Dream Acres Panathur

Prestige Kew Gardens Yemalur

SNN Raj Etternia Haralur Road

BSCPL Bolleneni Silas Whitefield

Prestige Falcon City Kanakapura Road

Sobha City Thanisandra

KHB Surya City Chandapura

Prestige Tranquility Budigere

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q3 2020


Average changes in prices for localities in various price segments

< 5000 5000-6000 6000-7000 > 7000

RM UC RM UC RM UC RM UC

-1.8%

-2.8%

-1.3%

-2.1%

-1.1%

0.3%

1.8%

0.7%"Interestingly, thedecline was witnessedin the sub-7000 per Sqft

price buckets."

Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on Sep 2020


In the News

1. The Urban Development Department(UDD) directed the Bruhat BengaluruMahanagara Palike (BBMP) to change theconventional unit area value system withthe value guidance approach for propertytax calculation. This is likely to increasethe water and property tax.

2. The development of City Center -Yelahanka -Devanhalli railway lineexpected to be completed by the end of2020. This will significantly improve theconnectivity of the city centre withKempegowda International Airport.

3. The trial of Green line metro extensionfrom Yelachenhahalli (Puttenahalli) -Anjanpura has started in Aug-2020 and islikely to be operational in Nov 2020.

© magicbricks.com Page 1

Demand Supply Analysis Bengaluru | July-Sep 2020

1 BHK4%

2 BHK46%

3 BHK45%

Above 3 BHK5%

DEMAND

Above 3 BHK5%

3 BHK46%

2 BHK45%

1 BHK3%

SUPPLY

6000-700018% 5000-6000

24%

> 700026% < 5000

32%

SUPPLY

Sarjapur Attibele RoadBannerghatta

Chikbanavara

Tumkur Road

Yarandahalli

Dasanapura

Kadabagere

AnjanaPura

Nagarbhavi

Yelenahalli

Binnypete

Bellahalli

Budigere

Sarjapur

Hoskote

KodathiKengeri

Bidadi

Sarjapur Road

Whitefield

© 2020 Mapbox © OpenStreetMap

Propensity of demand and supply in terms of searches andlistings by localities

Top Micromarkets by Consumer Searches

Whitefield 3700-9500

Sarjapur Road 4300-8100

Bellary Road 3900-10100

Kanakapura Road 3900-9400

Electronic City 3600-6300

Thanisandra 4700-7500

Bannerghatta Road 3600-7700

11

22

33

54

45

76

67

Micro Market Price Range RankQ3-20

RankQ2-20

Whitefield 3700-9500

Sarjapur Road 4300-8100

Bellary Road 3900-10100

Electronic City 3600-6300

Thanisandra 4700-7500

Kanakapura Road 3900-9400

Bannerghatta Road 3600-7700

11

22

33

44

55

66

77

Micro Market Price Range RankQ3-20

RankQ2-20

Top Micromarkets by active listings

Focus shifts to affordableneighborhoods in the periphery

Bengaluru has a healthy market for most BHKconfigurations, with demand maching supply. Themarket is well distributed between affordable andmid-sections, with 2 and 3 BHKs having the largestshare of demand and supply, while 1 or greaterthan 3 BHKs taking up ~10% of the pie.

"Mid-segment configurations (2 &3 BHKs) continued to drive mosttraction, and accounted for morethan 90% of demand and supply."

-The lowest price bracket of ‘less than INR 5,000per sqft’ registered around 40% of the totalproperty searches during Q3 2020. The The'Magicbricks buyer sentiment survey analysis-2ndedition' suggested that the focus of buyers hasshifted towards peripheral areas where the persqft prices are less.

-Whitefield, Sarjapur Road and Bellary Roadcontinue to be the top 3 micro-markets ofBengaluru due to continuous IT development in theregion and the upcoming metro facility.

-Kanakapura Road has seen a significant rise indemand in Q3 2020, as the upcoming metro line(green line extension from Yelachenahalli toAnjanapura) is expeted to significantly enhancethe prospects.

-The development of new office spaces such asAmazon (Bagmane Rio in Mahadevpura) and Apple(expected near Cubbon Road) is likely to boostresidential demand in neighboring areas.

Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by BHK configuration


~90% of demand concentrated among 2BHK and 3BHK configurations

Major demand for properties below INR 5000 psqft price range

Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by price buckets


Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q3 20202. 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.


Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Demand/SupplySupply

6000-700016%

5000-600020%

> 700027% < 5000

37%

DEMAND


Price Analysis Bengaluru | July-Sep 2020

Q3 2020 | Price Changes in Key Localities

Locality Avg.Price

PriceChange

Ananth Nagar

Attibele

Bagalur Main Road

Begur

Bilekahalli

Chandapura

Devanahalli

Electronic City

Electronic City Ph 2

Gottigere

Gubbalala

Gunjur

Hoskote

Hosur Road

K R Puram

Kadugodi

Kaggadasapura

-7.5%

7.5%

0.0%

-4.9%

0.0%

-0.1%

-4.7%

1.9%

-1.1%

-2.2%

-0.3%

0.0%

-3.2%

-7.5%

-7.5%

-2.5%

-0.6%

-6.2%

-0.9%

-7.5%

0.0%

-2.4%

7.5%

0.0%

4,269

4,810

4,871

4,754

4,938

4,415

4,287

4,553

4,786

4,818

4,842

3,694

4,483

4,927

4,861

4,949

4,879

4,923

3,709

4,874

4,785

4,750

3,373

3,610

Locality Avg.Price

PriceChange

Akshayanagar

Arakere

Banashankari Stg 3

Banaswadi

Bannerghatta Road

Begur Road

Bellary Road

Bommanahalli

Brooke Field

BTM Layout

Budigere

Budigere Cross

C V Raman Nagar

Electronics City Ph 1

Harlur

Hennur

Hennur Main Road

0.2%

0.3%

-7.5%

3.4%

1.3%

-0.5%

4.5%

-4.3%

-2.6%

-1.0%

-2.6%

4.5%

0.0%

3.1%

-0.2%

-0.5%

3.0%

4.6%

-3.7%

-4.7%

-5.4%

1.0%

-0.8%

2.3%

-0.3%

-0.3%

0.9%

1.4%

-1.8%

-7.5%

4.0%

-0.8%

-7.5%

-5.5%

-2.5%

-1.2%

0.6%

-5.0%

-0.1%

-3.8%

-7.5%

-7.5%

5,322

5,267

5,000

5,755

5,173

5,033

5,727

5,040

5,875

5,536

5,004

5,164

5,386

5,557

5,631

5,593

5,347

5,550

5,462

5,711

5,893

5,469

5,243

5,201

5,104

5,913

5,914

5,598

5,125

5,663

5,780

5,630

5,114

5,905

5,201

5,848

5,506

5,324

5,628

5,604

5,588

5,250

Locality Avg.Price

PriceChange

Ambalipura

Banashankari

Bannerghatta

Doddakannelli

Haralur Road

Hoodi

HSR Layout

ITPL

Jakkur

JP Nagar Phase 6

JP Nagar Phase 7

Kudlu

Kudlu Gate

Kundalahalli

Mahadevapura

Manyata Tech Park

-1.6%

0.0%

2.1%

1.1%

0.8%

0.3%

-3.4%

1.0%

-7.1%

-0.5%

6.4%

6.1%

-4.3%

-1.3%

4.6%

-7.5%

7.5%

2.3%

-3.9%

-6.5%

7.5%

-2.8%

5.6%

-5.2%

6.9%

0.0%

6,121

6,313

6,057

6,269

6,069

6,069

6,064

6,128

6,240

6,385

6,397

6,871

6,118

6,686

6,376

6,003

6,798

6,058

6,818

6,048

6,368

6,648

6,493

6,238

6,640

6,762

Locality Avg.Price

PriceChange

Armane Nagar

Basavanagudi

Bellandur

Binnypete

Frazer Town

Hebbal

Hoodi Circle

Indira Nagar

Jayanagar

Konanakunte

Koramangala

Magadi Road

Malleshwaram

Old Airport Road

Rajaji Nagar

Sanjay Nagar

6.2%

5.0%

0.0%

-5.2%

-3.3%

7.5%

-7.5%

-3.6%

5.7%

1.3%

7.5%

7.5%

1.0%

-0.5%

0.0%

-2.7%

7.5%

7.5%

8,185

8,785

7,444

14,096

7,668

11,394

9,022

11,165

8,014

10,860

11,547

7,521

8,241

9,440

9,536

7,148

12,789

8,819

< INR 5000 psf INR 5,000-6,000 psf INR 6,000-7,000 psf > INR 7,000 psf

Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q3 20202. Color of the bubble represents price change in Q3 2020, 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.

-Price growth was mostly concentrated along the Bellary Road in North Bangalore in localities such as Yelahanka, Hebbal, Thanisandra, Sahakara Nagar. This isdue to the upcoming railway and metro connectivity in this region.

- Key IT hubs of Bengaluru, Bannerghatta Road (-4.9%), Whitefield (-1.6%), and Electronic City (-0.5%) have witnessed a slight price correction as demand is yetto catch up with pre-COVID level.


Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q3 2020. 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 represents the price change in Q3 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Rikitha Murthy | Sr. Research [email protected] [email protected] [email protected] [email protected]

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

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.

For more information and research related queries, please contact:

Kengeri Satellite Town-0.1% Rajarajeshwari Nagar

-1.0%

Banashankari Stage 3-3.8%

Ramamurthy Nagar7.5%

JP Nagar 9th Phase-3.7%

Kanakapura Road-0.5%

Budigere Cross4.0%

Akshayanagar-7.5%

Sarjapur Road0.8%

Yeshwantpur6.2%

Sanjay Nagar0.0%

Indira Nagar7.5%

Frazer Town-0.5%

Rajaji Nagar-5.2%

Nagarbhavi4.5%

Begur Road0.6%

Whitefield-1.6%

Horamavu-0.3%

Binnypete0.0%

K R Puram-2.2%

Gottigere-7.5%

Panathur-7.1%

Sarjapur-2.6%

Varthur3.4%

Kengeri-4.7%

Hebbal1.0%

Gunjur-3.2%

Begur0.0%

Hoodi7.5%

© 2020 Mapbox © OpenStreetMap

-7.5% 7.5%


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

propinde2 s magicbricks · lakeside habitat whiteﬁeld peninsula paramount sarjapur sobha dream...

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