propindex | magicbricks · 2020-04-01 · purva windermerepallikaranai price bracket (inr/sqft)...

PropIndex | Magicbricks

Residential Market Insights

Demand has started picking up

Chennai witnessed a productive Q4 2019 with the city performing decently on all indicators. Chennai city has alsobeen steadily improving its infrastructure, with two metro lines and Outer Ring Road becoming operational in thelast 2-3 years, while three more metro lines and Chennai Peripheral Road are four major infra projects in the pipeline.

The price scenario in case of both the Under-Construction (UC) and Ready-to-Move (RM) property segments waspositive, with both segments rising by 1.7% and 2.5% respectively. However, Chennai remains unique amongst theIndian cities, where UC properties command a premium over RM properties as consumers prefer fresh constructionwith latest amenities.

5 YearChange YoY QoQ

2.5%5.0%12.5%

5 YearChange YoY QoQ

1.7%1.2%6.8%

"Under constructionprices have grownmuch more slowlycompared to Ready to

move prices,appreciating around 7%in the last 5 years."

Chennai Q4 2019

Parameters India Chennai

Demand+ +4.0% +5.5%Supply++ +1.5% +1.0% Price Index+++ +1.2% +2.5%

"Property prices inChennai have slightlyaccelerated in the lastone year, rising amoderate 5%"

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

Casagrand Builders

Appaswamy Real Estates

Ozone Group

Alliance Group

Adroit Urban Developers

BSCPL Infrastructure

Doshi Housing

Mahindra Lifespace Developers

Puravankara Limited

Radiance Realty Developers

HiranandaniUpscale

Navalur

Alliance OrchidSprings

Korattur

Prestige BellaVista

Iyyappanthangal

The Metrozone Anna Nagar

AmarprakashTemple Waves

Chromepet

Olympia Opaline Navalur

VGN Stafford Ambattur

Purva WindermerePallikaranai

Price Bracket (INR/sqft)

< 5000 5000-7000 7000-9000 > 9000

RM UC RM UC RM UC RM UC

1.1%

2.9% 2.8%

1.7%

0.9%

3.4%

1.3%

4.3%

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- While the Phase-I of Chennai Metrowas built along the establishedcorridors of the city (Inner Ring Road &GST), Line 3 of Phase II (connectingSIPCOT2) to further south, makes OMRa prime hub of future growth

- With most commercial development inthe southern direction along the OMR &GST corridors, these areas hold the bestresidential prospects going forward.

- Price difference between the UC & RMproperties expected to further narrowas new developments come up inperipheral areas of the city.

"All budget segmentswitnessed prices

appreciating between1% to 4% QoQ, with RMproperties registeringhigher increments thanUC properties, exceptfor the '5000-7000 persqft segment."

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Avg. Price psf

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000

7,000

8,000

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


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 rerepsents price trend for properties in multistorey and builder floors only


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


Page 1© magicbricks.com

Key Developers based onactive listings

Key Projects based onconsumer searches

1 BHK10%

3 BHK32%

Above 3 BHK3%

2 BHK55%

DEMAND

Demand Supply Analysis Chennai Q4 2019

Healthy demand for all budget segments

Half of the buyers looking to buy 2BHK propertyDemand keeping up with supplyfor all budgets

Chennai market witnessed a healthydemand-supply equation in Q4 2019, with allbudget segments finding buyers. The city iswitnessing a significant number of searches for2 BHKs but there is sufficient supply of 2 BHKsas well.

"Almost 40% of the searches onMagicbricks happened in the'less than INR 5000' per sqftsegment, although other budgetsegments also got decent

searches."

- The city has been able to steadily grow alongthe key transport corridors of OldMahabalipuram Road (OMR) and Great SouthernTrunk (GST) Road, with developers offeringcheaper housing options with decentconnectivity.

- Steady real estate growth in peripherallocations has meant that Chennai buyers lookingfor affordable options have been able to give thesmaller 1BHKs a miss.

- OMR, Porur, Central Chennai and GST are thetop 4 micro-markets of Chennai by consumersearches, covering all budget segments.

- More than 20% of the buyer searches are goingto properties costing above INR 9,000 per sqft,making Chennai one of the few markets wherepremium segment has done well.

Top Micromarkets by consumersearches

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

1 BHK8%

2 BHK52%

3 BHK36%

Above 3 BHK4%

SUPPLY

7000-900010%

5000-700032%

> 900015%

< 500042%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by activelistingsa

7000-900013%

5000-700028%

> 900021%

< 500038%

DEMAND Price buckets in INR per sqft

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


.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


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 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.


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.


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.


Old Mahabalipuram Road

Mahindra World City

Tambaram West

SholinganallurPerungalathur

Kelambakkam

Guduvancheri

Poonamalle

AmbatturAvadi

Porur

© OpenStreetMap contributors

Demand/SupplyDemand

OMR 3031 - 8985

Porur 3628 - 7438

Central Chennai 5759 - 17770

GST- Perangalthur 2900 - 5470

Ambattur 2691 - 7407

Velachery 4089 - 9092

Arcot Road 5361 - 11718

11

42

53

34

65

96

77

OMR 3031 - 8985

Porur 3628 - 7438

GST- Perangalthur 2900 - 5470

Ambattur 2691 - 7407

Velachery 4089 - 9092

Medavakkam 3708 - 5927

Central Chennai 5759 - 17770

11

22

33

44

55

66

97

Micro-Market Price Range Q4 Rank Q3 Rank

(Price in INR per Sqft)

Micro-Market Price Range Q4 Rank Q3 Rank


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 NameAvg.Price

QoQChange

Ambattur

Avadi

Chromepet

G S T Road

Guduvancheri

Kelambakkam

Mahindra World City

Medavakkam

Nanmangalam

Navalur

OMR

6.0%

-0.4%

5.9%

6.1%

3.7%

-2.2%

-5.9%

4.1%

-2.5%

0.4%

5.9%

5.9%

3.5%

6.1%

0.9%

3.5%

6.0%

6.1%

3,961

4,081

4,340

4,526

4,449

4,283

4,436

4,622

4,575

4,547

4,729

4,185

4,005

3,866

4,193

4,798

4,039

4,876

< INR 5,000 psf INR 5,000-7,000 psf INR 7,000-9,000 psf > INR 9,000 psf

Price Analysis Chennai Q4 2019

- Most of the localities in Chennai have average residential prices between INR 4,000 to 7,000 per sqft.- Posh localities like Adyar and T Nagar witnessed price increments between 4-6%, with Egmore being the sole locality having average prices above 10,000 persqft, which has seen a marginal price decline.- All budget segments had a majority of their localities witnessing price increases.- Localities with price decline were mostly concentrated around the OMR.


Guduvancheri6.1%

Poonamalle3.7%

Selaiyur6.0%

Porur-3.0%

Avadi6.0%

OMR4.1%© OpenStreetMap contributors


QoQChange

Koyambedu

Saligramam

Valasaravakkam

Velachery 4.4%

3.3%

2.2%

3.9%

7,299

8,018

8,454

8,776


QoQChange

Adyar

Anna Nagar

Egmore

Kilpauk

Nungambakkam

T Nagar

Thiruvanmiyur

Vadapalani 6.0%

5.9%

6.0%

5.9%

4.0%

-0.4%

3.1%

4.0%

9,546

10,489

14,224

12,963

11,597

15,324

10,116

13,290

-7.5% 7.5%

Avg Price Change %ge

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


QoQChange

East Coast Road

Iyyappanthangal

Karapakkam

Kattupakkam

Kolathur

Korattur

Kovilambakkam

Madhavaram

Madipakkam

Manapakkam

-2.6%

-6.6%

0.4%

6.0%

-3.0%

6.0%

6.0%

4.0%

6.1%

-4.8%

6.0%

-6.9%

-1.9%

2.8%

5.9%

6.1%

6.1%

0.7%

1.9%

-7.0%

6.0%

6.1%

5,173

6,824

5,510

5,110

5,932

6,943

6,795

5,358

5,922

5,396

6,271

6,286

5,596

5,179

5,194

6,129

6,089

5,419

5,080

5,662

6,147

5,249

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 [email protected] [email protected] [email protected] [email protected]

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

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


propindex | magicbricks · 2020-04-01 · purva windermerepallikaranai price bracket (inr/sqft)...

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