propindex | magicbricks...shapoorji pallonji real estate trilok dharshan bhayandar east orchid ozone...
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PropIndex | Magicbricks
Residential Market Insights
Suburban localities have seen most of the action
Mumbai residential market faced considerable headwinds in the first half of the year, with NBFC crisis andoversupply in the luxury segment striking the developers. However, riding on the festive season, Q4 2019 witnesseda marginal uptick in prices of 0.4% QoQ.
The price change in case of both the Under-Construction (UC) and Ready-to-Move (RM) property segments waspositive, though the UC segment had higher gains as compared to RM properties. Oversupply in the luxury segmentcontinued to drag down the prices in the premium localities of South Mumbai with QoQ decrease recorded up to 7%in some of the areas.
5 YearChange YoY QoQ
0.4%-0.1%-0.5%
5 YearChange YoY QoQ
0.8%-0.2%8.2%
"After a volatile fourquarters, UC propertylisting prices witnessed0.8% QoQ increase,showing resistance ofsellers to any furtherprice reduction."
Mumbai Q4 2019
Parameters India Mumbai
Demand+ +4.0% -1.6%Supply++ +1.5% -2.2% Price Index+++ +1.2% +0.4%
"City level weightedaverage prices haveremained stagnant forthe last 5 years, whilepremium segmentremained underpressure "
Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019. ++ represents the QoQ change in volume of active listingson Magicbricks website in Q4 2019. +++ represents the QoQ change in the weighted averageprice at India and city level
Source: Magicbricks Research
Lodha Group
Kanakia Spaces
Runwal Developers
The Wadhwa Group
Kalpataru Limited
Godrej Properties
Oberoi Realty Limited
L&T Realty
Rustomjee
Shapoorji Pallonji Real Estate
Trilok Dharshan Bhayandar East
Orchid Ozone Dahisar East
Runwal Greens Mulund West
Global City Virar West
Evershine City Vasai
DB Ozone Mira Road
Lodha Altamount Altamount Road
Vasant Oasis Andheri East
Lodha Aqua Mira Road
Omkar 1973 Worli
Price Bracket (INR/sqft)
< 10000 10000-15000 15000-20000 > 20000
RM UC RM UC RM UC RM UC
0.6%
2.6%
1.5%1.6%
-0.5%-0.9%
-2.0%
-3.1%
QoQ changes in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- With new state government taking theseat in the recent elections, we need towait and see how it will take the city'sinfrastructure development and realestate sector.
- The development of Navi MumbaiInternational Airport and corporatesinterest shifting towards moreaffordable locations, are ikely to pushbuyers to Navi Mumbai.
- Mumbai metro line 3 (Colaba-Bandra-SEEPZ), expected to be partiallyoperational by next year, may providesome relief to South Mumbai market
"Buyers showed clearpreference for 'lessthan INR 15,000 persqft segment',
garnering most of thedemand and priceincreases for thequarter"
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
10,000
12,000
14,000
16,000
18,000
20,000
Avg. Price psf
2014
2015
2016
2017
2018
2019
2020
10,000
12,000
14,000
16,000
18,000
20,000
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
Source: Magicbricks Research
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 represents price trend for properties in multistorey and builder floors only
Source: Magicbricks Research
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
Source: Magicbricks Research
Page 1© magicbricks.com
Key Developers based onactive listings
Key Projects based onconsumer searches
1 BHK45%
3 BHK15%
Above 3 BHK6%
2 BHK34%
DEMAND
Demand Supply Analysis Mumbai Q4 2019
Affordable segment supply unable to catch up to demand
Demand heavily tilting towards 1 BHK configurationMumbai facing demand-supplymismatch
Smaller unit configurations continue todominate the Mumbai market with 1 and 2 BHKsattributing to almost 80% of the demand.
Mumbai residential market suffers from avisible demand-supply mismatch, with 1 BHKsforming less than 30% of the supply, whilealmost half of the demand concentrated in thissegment.
"Similarly, 44% of the buyersare interested in buying
properties costing 'less than INR10,000 per sqft', while only 30%of the properties fall in this
segment."
- Almost 25% of the buyers are still looking atoptions costing more than 'INR 20,000 per sqft',indicating consumers' appetite for premiumproperties in Mumbai city, reflecting its statusas the costliest city of India.
- Buyer preference for cheaper options has led tothe peripheral micromarkets witnessing most ofthe action, both in terms of the supply anddemand.
-Malad and areas beyond it form the top 4micro-markets popular amongst the consumers,with 'Beyond Mira Road' (Vasai-Virar)continuing to be the most searchedmicro-market in the last two quarters.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searchesand listings by localities
1 BHK28%
2 BHK42%
3 BHK23%
Above 3 BHK6%
SUPPLY
15000-2000026%
10000-1500016%
> 2000028%
< 1000030%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by activelistingsa
15000-2000019%
10000-1500014%
> 2000022%
< 1000044%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHKs) configuration2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration
Source: Magicbricks Research
.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
Source: Magicbricks Research
Note:1.Above map depicts the key localities of the city, with the size of the bubble depicting the demand (consumer preference) /supply (active listings)for properties 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.
Source: Magicbricks Research
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.
Source: Magicbricks Research
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
Source: Magicbricks Research
Marine Drive
Vasai West
Chembur
Colaba© OpenStreetMap contributors
Demand/SupplyDemand
Beyond Mira Road 3398 - 7516
Malad-Kandivali 10930 - 243..
Mira-Bhayandar 6207 - 12013
Borivali-Dahisar 8802 - 21252
Andheri West 8860 - 42206
Andheri East 13395 - 240..
Goregaon 8615 - 27075
11
22
33
54
45
66
77
Malad-Kandivali 10930 - 24317
Mira-Bhayandar 6207 - 12013
Beyond Mira Road 3398 - 7516
Goregaon 8615 - 27075
Borivali-Dahisar 8802 - 21252
Powai 15570 - 25672
Andheri East 13395 - 24080
11
22
53
44
75
36
67
Micro-Market Price Range Q4 Rank Q3 Rank
(Price in INR per Sqft)
Micro-Market Price Range Q4 Rank Q3 Rank
Page 2© magicbricks.com
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 NameAveragePrice
QoQChange
Beverly Park
Bhayandar East
Bhayandar West
Mira Bhayandar
Mira Road
Naigaon East
Nalasopara
Nalasopara East
Nalasopara West
Vasai
Vasai East
5.0%
1.1%
5.0%
2.8%
3.0%
3.0%
1.8%
5.0%
0.8%
5.0%
5.0%
5.0%
3.0%
5.0%
-2.5%
4,856
4,426
4,769
6,337
5,020
5,558
4,589
5,123
4,771
4,869
8,328
8,246
9,635
8,488
8,036
< INR 10,000 psf INR 10,000-15,000 psf INR 15,000-20,000 psf > INR 20,000 psf
Price Analysis Mumbai Q4 2019
- With ticket size of less than INR 1 Crore, Peripheral localities remained in demand due to affordability- Residential demand for peripheral areas in Mumbai in the sub INR 10,000 per sqft segment transformed into price increment in the range of 1 to 5% QoQ inmost places - Price decline was most visible in the 'above INR 15,000 per sqft' properties indicating buyers unaffordability above this range.
Source: Magicbricks Research
Mazgaon2.8%
Chembur-4.8%
Colaba-7.0%
© OpenStreetMap contributors
Locality NameAveragePrice
QoQChange
Andheri East
Borivali East
Borivali West
Chandivali
Chembur
Film City Road
Ghatkopar West
Gokuldham
Goregaon East
Goregaon West
Ic Colony
-1.0%
-1.3%
-6.3%
-1.3%
-1.2%
-4.8%
1.2%
-0.1%
1.4%
3.2%
-2.4%
5.0%
-7.0%
-0.4%
2.3%
-7.0%
5.0%
2.9%
-7.0%
-1.7%
-1.4%
0.9%
-4.8%
-1.9%
5.0%
-0.5%
-1.4%
18,513
17,130
16,849
16,096
19,264
16,541
16,963
17,892
15,993
15,542
15,575
15,262
15,645
15,673
16,096
19,533
16,695
17,456
17,074
16,375
18,796
15,470
18,580
18,332
17,507
15,983
18,054
Locality NameAveragePrice
QoQChange
Andheri West
Bandra East
Bandra West
BKC
Colaba
D.n. Nagar
Dadar East
Dadar West
Ghatkopar East
Juhu
Khar West
-7.5%
-7.0%
-1.6%
-0.1%
-3.9%
5.0%
-2.6%
-7.5%
-5.2%
-2.8%
5.0%
-7.0%
-7.0%
1.8%
5.0%
2.8%
-7.0%
-6.5%
-7.0%
-4.3%
-7.0%
-4.6%
-4.1%
2.4%
5.0%
-0.3%
-7.0%
-7.0%
-7.0%
-5.5%
-5.2%
-6.5%
1.8%
43,037
35,918
20,754
30,842
27,548
23,946
20,562
45,770
22,607
34,460
22,298
35,920
26,486
20,586
30,396
27,107
31,671
32,622
28,674
20,076
31,922
25,706
38,202
35,603
20,730
33,128
31,442
22,993
40,944
30,831
40,273
31,743
23,180
-7.5% 7.5%
Avg. Rm-Pc
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
Locality NameAveragePrice
QoQChange
Bhandup West
Dahisar
Dahisar East
JankalyanNagar
LokhandwalaTwp
-0.6%
5.0%
2.9%
5.0%
-5.6%
14,537
13,502
11,732
12,701
14,696
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%
Page 3© magicbricks.com