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REALTY DECODED Q4 FY’17

REALTY DECODED Q4 FY’17Page 01

NEW LAUNCHES

INVENTORY SCENARIO

INSIGHTS

CONSUMER CALLING

PRICE TRENDS

POLICY DEVELOPMENTS AND KEY TRANSACTIONS

Structure

1

2 3

4

56


Key Insights And Outlook

Key Insights

Source: PropTiger DataLabs Mar’17

The market has witnessed a revival after demonetization, with sales across top 9 cities of India increasing by 19 per cent in Q4 FY’17 compared with 20 per cent fall in the previous quarter. In absolute terms, sales increased from 43,500 units in Q3 FY’17 to 51,700 units in Q4 FY’17

Mumbai, Pune and Bengaluru contributed nearly 57 per cent to the total absorption witnessed in Q4 FY’17. Mumbai accounted for nearly 23 per cent of the total sales during the quarter, followed by Pune at 18 per cent and Bengaluru at 16 per cent

Buyers inclination continued to be higher towards ready to move in projects. Around 18 per cent of the sales during the quarter were witnessed in such projects as compared to 9 per cent in the same quarter previous year

The top nine cities across India have witnessed launch of around 51,500 units in Q4 FY’17 compared with 43,250 units during the preceding quarter, an increase of 19 per cent on quarterly basis. Mumbai contributed a maximum share of 26 per cent to total launches followed by Hyderabad at 14 per cent and Gurgaon at 13 per cent

Affordable housing segment has made sizable gains after getting infrastructure status. Share of affordable housing launches has increased by 22 per cent compared to the same quarter in the preceding year

Mumbai Metropolitan Region (MMR) has witnessed a surge in launches within the sub-Rs.25 Lac segment on account of favorable policy measures by the Government. The region has contributed the maximum, around 35 per cent, to the overall launches across top 9 cities in the sub-25 Lac segment. Also, the share of launches of the segment within MMR has increased from 12% in Q2 FY'17 to 53% in Q4 FY'17

The pressure of inventory overhang eased during the quarter – from 46 months in Q3 FY’17 to 38 months in Q4 FY’17. Mumbai, Bengaluru and Pune together accounted for over 55 per cent of the unsold inventory

Prices remained range-bound in top 9 cities across all the segments. However, Bengaluru, Hyderabad and Chennai witnessed a marginal appreciation in the range of 3 to 5 per cent per annum



Outlook


With Real Estate Regulatory Act (RERA) coming in to force, the new launches may witness a drop in the short term as builders may wait to see how the new RERA norms turn out

Affordable housing segment is likely to make sizable gains after getting infrastructure status. Both sales and launches are expected to improve, as compared with current levels

Developers are likely to face further cash crunch as RERA will prohibit the pre-launch sales advertisements before all necessary regulatory approvals are in place; Earlier developers used to collect significant amount of revenues through pre-launch sales


Notes: BSP is represented in Rs./sq.ft.Inventory overhang is represented in months

Residential Landscape: Top-9 cities as of Q4 FY’17

Ahmedabad, Gurgaon and Noida witnessed steep increase in launches over the previous quarter. All cities have seen rise in sales with the exception of Kolkata and Pune. Prices have largely remained range bound.


Q-o-Q (%)

-

Q-o-Q (%)

Q-o-

Q-o-Q (%)

GURGAON

MUMBAI NOIDA

HYDERABAD

BENGALURU CHENNAI

KOLKATA

PUNE

AHMEDABAD

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

+10%

+146%

2,942(-1%)

39 36

4,822(0%)

+7%

-29%

34

(0%)5,044

+33%

+49%

+6%

5,318 (-3%)

120

+27%

+89%

3,970 (0%)

18

-43%

-13%

3,822(-1%)

40

+59%

+32%

8,153(-2%)

45

+130%

+23%

3,965(-1%)

61

-52%

+1%

4,774(0%)

28

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

Launches

Sales

BSP

Inventory Overhang

+272%

Q-o-Q (%)

Q-o-Q (%)

Q-o-Q (%) Q-o-Q (%)

Q-o-Q (%)

Q-o-Q (%)

Q-o-Q (%)

Q-o-Q (%)

Q-o-Q (%)

* Top 9 Cities are Mumbai (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway),Gurgaon (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.

Notes:

Q4 FY’16 Q2 FY’17 Q3 FY’17 Q4 FY’17Q1 FY’17

Inventory Overhang

Price Trend

Sales

Launches

Strong/Marginal Decline Stable Strong/Marginal Increase//


Page 06 REALTY DECODED Q4 FY’17

Key performance indicators bounced back in Q4 FY’17;Almost back to Pre-Demo levels

Residential Trends in top - 9 cities*

14% 14% 19%-14%

-16%

-8%

-4% -1%

0%0% 1% 0% -1%

-9% -16%9% 0%

8% 19%

23%


Launches: DemonetisationE�ect Fading Away

Launches during the quarter increased by 19%; highest levels witnessed during last 8 quarters

Total number of launches in top-9 cities*


Notes:



78,075 75,357

79,343

73,433

50,594

36,77442,269

36,27541,313

47,03243,253

51,521

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

Q1 FY'15

Q2 FY'15

Q3 FY'15

Q4 FY'15

Q1 FY'16

Q2 FY'16

Q3 FY'16

Q4FY'16

Q1 FY'17

Q2 FY'17

Q3 FY'17

Q4 FY'17

# of units

-47%

42%

Launches attained 50,000 level after last 6 quarters


Ahmedabad, Gurgaon and Hyderabad witnessed maximum increase in launches on YoY basis

Total unit launches –Q4 FY’16 vs Q4 FY’17

* Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.

Notes:

Xrbia Aashiyana City, Karrm Brahmaand and Nebula Aavaas together accounted for over 40% share in launches within < Rs. 25 Lakhs budget segment


3,36

6

4,29

6

3,72

5

4,96

6

0

5,000

10,000

15,000

20,000

# of units

Nebula Aavaas-nearly

2,700 units

SPR Group Codename City

and Skylark Aavli->600 and

>350 unitsrespectively

Signature Global The Serenas,

SupertechBelfair and

Signature Global The Roselia

->3,500 units

Tata Value Home Destination 150

->900 units

Xrbia Aashiyana City and Karrm

Brahmaand->3,500 and >2000 unitsrespectively

Vajram New Town Myhna

Properties Myhna Maple-> 500 units

eachAnand Developers Ilyf

Milan Enterprise Karnavati4

->400 units each

Usashi King Town and

Dharitri Infraventure

Universia->1,000 units

Yogesh Enterprises

Gandharv Nagari 2 and Noble

Vishnu Vihar -500 units

4,2

05

52

2

9,8

73

4,6

03

4,0

47

4,1

09

6,7

59

1,5

53 2,7

81

7,10

2

2,2

14

2,5

35

7,6

23

13,5

17

Q4 FY'17

Q4 FY'16

Ahmedabad Bengaluru Chennai Gurgaon^ Hyderabad Kolkata Mumbai** Noida* Pune


Launches in Affordable segment increased to 40% on back of Infrastructure status and Interest rate SOPs

* Top 9 Cities are Mumbai (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurgaon (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.

Notes:

Q-o-Q budget-wise unit launches in top - 9* cities


16% 14% 18% 23% 24%40%

42%30%

35%33% 41%

32%33%

38% 36%

27%

20% 23% 16% 25% 21%

17%

17%

8% 10% 8%8% 10%

12%11%

8%9%

8%18% 15% 17% 14% 12%

25% 20% 18% 13% 12%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

FY'15 FY'15 FY'15 FY'15 FY'16 FY'16 FY'16 FY'16 FY'17 FY'17 FY'17 FY'17

< Rs.25 Lakhs Rs.25-50 Lakhs Rs.50-75 Lakhs Rs.75 -100 Lakhs > Rs.1 Crore

% of units

Share of <Rs. 25 lakhs segment

increased significantly on

account of favorable policies

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

12%

19%

36%

20% 22%

8%

18%

23% 20%

24%

27%

20%

21%19%

9%

16%

9%


Consumer & Demand : Sales Momentum Regained


Notes:



Sales increased by 19% over the previous quarter; still lower than the Pre-Demo levels

Sales trend in top-9 cities*e

Barring Kolkata, sales have increased across all cities with significant growth recorded in Hyderabad,

Chennai & Mumbai

92,725

80,36676,739

65,78957,245

48,97653,457 55,500 54,721 51,715

0

30,000

60,000

90,000

120,000


--22%Attained previous

year’s levels

51,550

43,512

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

19%

37,413

30,25028,894

25,832

20,97817,655

15,51016,09313,795

11,497

6,636 6,531 6,025 6,116 4,857

39,21936,321 36,348

31,88229,060

28,849

33,095

24,927

32,980

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000


# of unitsPeriod

% Change(Q-o-Q)

Units sold in ≤ 6 months old projects 3%

Units sold in 7-12 months old projects -6%

Units sold in > 12 months old projects 32%


Notes:



Sales in top-9* cities: New projects vs old projects

Projects > 12 months old, saw higher sales growth during the quarter

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

8,075 7,207

28,017

14,323

29,271

16,676

6,272

17,529

31,699

13,728

4,586

14,149

Units sold in ≤ 6 months old projects Units sold in 7-12 months old projects Units sold in > 12 months old projects


All cities witnessed an increase in sales barring Kolkata


Notes:

Q-o-Q sales inHyderabad increased

by 89%

Q-o-Q Sales Index (Base: Q4 FY’16)

Ind

ex

valu

e (B

ase

: Q4

FY

’16

=10

0)


100

161

130

8781

69

113

89

118

142

102

6165

103

195

121

100

108

96

50

70

90

110

130

150

170

190

210

FY'16 FY'17 FY'17 FY'17 FY'17Q4 Q1 Q2 Q3 Q4

97105

6579

95

117118

128

97103

120

110

173


Mumbai, Pune and Bengaluru commands lion’s share at around 57% of combined absorption of top-9 cities in Q4 FY’17


Ahmedabad

Bangalore

Chennai

Gurgaon

Hyderabad

Kolkata

Mumbai

Noida

Pune

City-wise split of total absorption in Q4 FY’17

Inner Pie – Q3 FY’17 Outer Pie – Q4 FY’17

Mumbai and Pune emerged as the largest contributors to total absorption during the quarter. Hyderabad’s share has increased from 8% during the previous quarter to 12% currently


6%

18%

7%

3%

8%

8%21%

8%

22%

6%

16%

8%

3%

12%

6%

23%

8%

18%

Affordable segment accounted for 58% of total sales; Mumbai, Pune and Bengaluru key drivers


1: Affordable segment: Units within < Rs.50 lacs budget2: Mid-segment: Units within Rs.50-75 lacs budget3: Luxury segment: Units in > Rs.75 lacs budgetAnalysis includes apartments and villas across the regions.

Notes:

Sales in top-9* cities by budget segment


56% 56% 52% 52% 52% 52% 51%

20% 19%19% 20% 21% 21% 20%

18%

24% 24% 23% 25% 25%

23%

27% 29% 28% 28% 26%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Q1FY'15 FY'15 FY'15 FY'15 FY'16 FY'16 FY'16 FY'16 FY'17 FY'17 FY'17 FY'17

1 2 3

% of sales

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

19%

57%

21%

56% 52%

21%

27%

54% 58%

24%

Affordable Segment Mid Segment Luxury Segment

<Rs.25 Lakhs segment is gaining momentum in Mumbai; 25% of end-user demand recorded in Q4 FY’17 against 9% in Q3 FY’17


* Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.^^ Based on survey of enquiries received by PropTIger.com.Analysis includes apartments and villas across the regions.

Notes:


Budget-wise real estate end-user demand^^ –Q4 FY’17

19%

3% 7% 1% 4%

25%

48%

29%30%

2%

24%

25%

55%

33%

29%

14%

37% 33%

3%

19% 13%9%

10%

5% 8%6%

14%

39%

26%

3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% of demand

Ahmedab

ad

Bengaluru

Chennai

Gurgao

n^

Hydera

bad

Kolkata

Mum

bai**

Noida*

Pune

> Rs.1 Crore

Rs.75 - 100 Lakhs

Rs.50 - 75 Lakhs

Rs.25 - 50 Lakhs

< Rs.25 Lakhs

24%

35%

17%

16%

43%

17%

17%

41%

13%

45%48%

7%

4%


22%

6%6%

Inventory: Moving Back To Stable Stage


Increase in traction during the quarter resulted in a 16% decline of inventory overhang


Notes:

Q-o-Q overall inventory overhang in top-9* cities


20

25

33

38

46

39

0

5

10

15

20

25

30

35

40

45

50


# of months

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

23

29

3735 35 35


* Top 9 Cities are Mumbai (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurgaon (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.Size of the bubble indicates total inventory in units.

Notes:


Age of unsold inventory vs inventory overhang in top-9* cities (Mar’17)

40,470

Chennai45,924

Gurgaon53,430

Hyderabad37,747

Kolkata40,743

Mumbai179,798

Noida85,553

87,024

20

25

30

35

40

45

50

10 30 50 70 90 110

Age of unsold inventory (months)

Inventory overhang (months)

Hyderabad, Chennai and Mumbai have witnessed an increase in liquidity with decline in inventory overhang

Pune

Bengaluru98,564

Ahmedabad

Noida has highest share of unsold inventory aged above 3 years



Notes:


Age of unsold inventory in top-9 cities (Mar’17)

27%22%

38%31%

9%

26%

28%

16%

9%

28%

19%20%

17%

10%

22%

17%

15%

21%

33%43%

50%

26% 27%

40%

67%

25%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

> 3 Yrs

2 to 3 Yrs

1 to 2 Yrs

≤ 1 Yr

% of inventory


29%

25%

19%

18%

19%

15%

26%

20%

19%

24%

More than 65% of unsold inventory in Ahmedabad, Kolkata and Pune is in the affordable segment


* Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane. ^ Gurgaon includes Bhiwadi, Dharuhera and Sohna. Analysis includes apartments and villas across the regions.

Notes:


Budget breakup of unsold inventory (Mar’17)

36%

11%

24%

5%

34%

25%

8%

33%

40%

31%

37%

56%

44%

12%

30%

24%13%

28%

15%

13%

19%6%

14%10%

10% 15%

9%

8%18% 15%

8% 8% 6%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Ahmedab

ad

Bengaluru

Chennai

Gurgao

n^

Hydera

bad

Kolkata

Mum

bai**

Noida*

Pune

> Rs.1 Crore

% of inventory

13%

33%

5%

25%

28%

21%6%

22%

31%

20%

6%

25%

Rs.75-100 Lakhs

Rs.50-75 Lakhs

Rs.25-50 Lakhs

<Rs.25 Lakhs

Increased focus on completions in affordable segment, deliveries increased nearly twice as compared to Q3 FY’16


1: Affordable segment: Units within < Rs.50 lacs budget2: Mid-segment: Units within Rs.50-75 lacs budget3: Luxury segment: Units in > Rs.75 lacs budgetAnalysis includes apartments and villas across the regions.

Notes:


Completions as % of inventory across segments in top-9 cities

* Inventory includes only under-construction units

Completions as % of inventory

4%5%

6%6%

8%9%

11%11%

14%

15%

6%

10%11%

3% 3%

4%5%

6%7%

10%11%

5%6%

7%

10%

14%

0%

2%

4%

6%

8%

10%

12%

14%

16%

FY'15 FY'15 FY'15 FY'15 FY'16 FY'16 FY'16 FY'16 FY'17 FY'17 FY'17 FY'17Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

A�ordable Segment Mid Segment Luxury Segment Overall

4%

4%

5%

5%4%

7%

9%8%

8%

11%

13%


22%

6%6%

Pricing: Largely Range-Bound

City Q4 FY’16 Q4 FY’17Price Change

(Y-o-Y)

Ahmedabad 1%

Bengaluru 3%

Chennai 3%

Gurgaon^ 0%

Hyderabad

Kolkata -2%

-1%Mumbai**

Noida* -3%

Pune -2%

Notes: ^^ Price weighted on number of units supply in respective projects in a city. * Noida includes Greater Noida and Yamuna Expressway. ** Mumbai includes Navi Mumbai and Thane. ^ Gurgaon includes Bhiwadi, Dharuhera and Sohna. Analysis includes apartments across the regions.

22%

2,942

4,822

5,044

5,318

3,970

3,822

8,153

3,965

4,7744,894

4,076

8,220

3,897

3,793

5,326

4,893

4,694

2,925



5%

Hyderabad witnessed highest price appreciation backed by increase in sales

Weighted average^^ BSP (Rs./sq.ft.) of apartment units as at the end of quarter


Notes:

Weighted average price index of residential units in top-9* cities


Prices across all major cities remained at the same levels


100

106107

107

104106

107109

110 110110

104105

105

95

99

94

103

115 116

102 104 103102

101 100101

103103 104 104

102

100 99 99 99 99 97

95

102

101 101

99

90

95

100

105

110

115

120


Bengaluru and Chennai were the only cities which witnessed price appreciation during the

quarter in absolute terms

Ind

ex

va

lue

(B

ase

: Q1

FY

’15

=10

0)

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Ahmedabad Bengaluru Chennai Gurgaon Hyderabad Kolkata Mumbai Noida Pune

102

103

101

105

100101

104

107

102

99

98

109

112

101

98

9695

106

97

99

106

116

Notes: *Affordable Segment : Units within < 50 lacs budget range. **Mid Segment : Units within 50-75 lacs budget range. ***Luxury Segment : Units in > 75 lacs budget range.

Price trend map for prominent suburbs for Q4 FY’17


Micro-markets of Southern cities witnessed the highest price appreciation across all segments


Q-o

-Q P

rice

Ch

ang

e (%

)

Affordable Segment* Mid Segment** Luxury Segment***

0%

to

1%

1% t

o 2

%A

bo

ve 2

%

Mumbai Pune Bypass (1%)

Secunderabad (1%)

Ahmedabad West (1%)

FNG Expressway,Noida (1%)

Pune Solapur Highway (< 1%)

Bannerghatta Road, Bengaluru (1%)

Chennai Central (1%)Worli to Andheri,Mumbai (1%)

ECR, Chennai (2%)

Ahmedabad East (3%)

Hennur Main Road, Bengaluru

(1%)

Bengaluru Central (1%)

Chennai North (5%)

ThanisandraMain

Road, Bengaluru(1%)

Mysore Road,Bengaluru (2%)

Bengaluru West (1%)

Pune East (< 1%)

Outer Ring Road, Bengaluru (1%)

Bengaluru South (1%)

Mumbai South (< 1%)

GST, Chennai (1%)

ORR South,Hyderabad (2%) Hyderabad

North (2%)ORR West, Hyderabad

(3%)

Policy Developments & Key Transactions


22%

6%

Major policy developments during the quarter

In a move towards implementing a new and consolidated indirect tax regime from the proposed date of July 1, the Lok Sabha has recently passed four bills, relating to the implementation of the Goods and Services Tax (GST)

The Parliament has passed the Enemy Property (Amendment and Validation) Bill, 2016, which denies inheritance rights to heirs of individuals who left the country for Pakistan and China

The Government of Karnataka and the Ministry of Railways signed an MoU for Bengaluru’s first suburban rail which is expected to address the situation of extreme traffic congestion in the city

The Ministry of Union Urban Development will extend the newly framed Transit Oriented Development (TOD) policy to Pune city. Under TOD, city densification will be promoted along mass transit corridors through vertical construction by substantially enhancing floor area ratio (FAR)

The Government of Maharashtra has decided to form a separate authority to regulate cooperative housing societies in MMR

The Mumbai Metropolitan Region Development Authority has approved the new 13-km Dahisar east-Mira Road-Bhayander Metro IX. This route, comprising 10 stations, will be built at an estimated cost of Rs.6,518 Crore

Mumbai International Airport (MIAL), the GVK-owned consortium running the Mumbai airport, has won the bid to develop the Rs.16,000-Crore Navi Mumbai International Airport project


The Government of Karnataka has cancelled approvals granted to 8 Special Economic Zone (SEZ) projects, as developers have not made any significant progress to complete the projects

L&T Realty is likely to build around 3 million sq.ft. of commercial space in the recently approved SEZ in north Bengaluru, which is part of a 9 million sq.ft. mixed-use development

Government of Haryana has approved the proposed Mass Rapid Transport System (MRTS) between Gurgaon and Manesar to establish metro connectivity between the financial and industrial hubs

The Government of Haryana approved the extension of the Delhi Metro network to Kundli, covering a distance of 4.86 km. The estimated cost of the project is Rs.1,100 Crore


Haryana Maharashtra KarnatakaNational


Government of Andhra Pradesh is planning to raise around Rs. 2,000 Crore through an issue of infrastructure bonds, to build a capital city spread across 35,000 acres of land acquired through an innovative land pooling model


22%

6%

Government of Andhra Pradesh is planning to build about 20 ‘walk-to-work-in-10 minutes’ towns along the Vizag-Chennai Industrial Corridor and the Chennai-Bengaluru Industrial Corridor

Kakinada SEZ, a subsidiary of GMR Infrastructure, has signed MoUs with firms interested in setting up manufacturing units; GMR seeks to develop an industrial zone spread over 8,500 acres and an all-weather, multi-cargo, deep water port with an estimated capacity of 16 million tonnes in the 1st Phase

The Government of Gujarat in its 2017-2018 budget, set a target of developing 45,000 affordable houses under PMAY and Mukhyamanti Saheri Vikas Yojana and an additional 100,000 houses under other schemes of the State Government

Ahmedabad Municipal Corporation (AMC) signed 279 MoUs worth more than Rs.30,000 Crore for undertaking of various realty projects, at the recently held Vibrant Gujarat Summit

Mahindra Lifespace Developers has signed an MoU with the Government of Gujarat to develop a 350-acre multi-product industrial park near Ahmedabad

The Yamuna Expressway Industrial Development Authority (YEIDA) is going to set up solar plants on 100 hectares of land as per the Uttar Pradesh Solar Policy-2013

The metro rail corridor from Noida to Greater Noida, is likely to be operational by December 2017, three months before the actual commissioning date. The 29.7-km Noida-Greater Noida has been constructed for around Rs. 150 Crore a kilometer

Bidhannagar Municipal Corporation (BMC) is planning to develop its jurisdiction area covering Salt Lake and Rajarhat as a smart green city

Two private companies have been selected to develop township projects in Rajarhat and near Amtala. Forum Properties Holding has been selected to develop the 80.29-acre 'Innovative Township' in Rajarhat while Ambuja Neotia Group will develop theme-based township near Amtala on 233 acres


Uttar PradeshAndhra Pradesh West BengalGujarat



22%

In a bid to boost regional air connectivity, the Cabinet Committee on Economic Affairs (CCEA) has approved the revival of 50 unserved or underserved airports at a cost of Rs. 4,500 Crore over a period of three years starting FY’18


The Ministry of Railways and Greater Chennai Corporation have decided to build a new bridge at Elephant Gate in Central Chennai, in place of the existing damaged structure with a 50:50 share of funding

The Chennai Port Trust and the Puducherry Government have signed an MoU for handling export and import cargo originating from Puducherry Port hinterland. This is likely to reduce cost of logistics and ease road congestion

Tamil Nadu

Others

Key transactions during the quarterLapis India Capital Advisors, a realty focused private equity fund, fully exited its investment in Sobha Palladian, a Bengaluru based residential project of Sobha Limited; the fund had invested Rs.50 Crore in a 50:50 partnership with Sobha and has exited with a total of Rs.98 Crore over a period of 4 years, starting 2013


22%

6%

Infosys Limited, acquired 3 acres of land in Bengaluru’s Electronics City for nearly Rs.33 Crore from Pradot Technologies

Godrej Properties has acquired a 12-acre land parcel along Sarjapur Road to develop around 1 million sq.ft. of residential space

Microsoft is likely to sign a nine-year lease deal with Prestige Group for a 6 lakh sq.ft. office space in Bengaluru. The new facility can accommodate approximately 6,000 employees

Signature Global, a real estate firm, is going to invest Rs.500 Crore for the development of two newly launched affordable housing projects comprising 2,405 units in Gurgaon

GIC has entered into exclusive bilateral negotiations with the promoters of DLF Limited to acquire the promoters’ 40% stake in DLF Cyber City, Gurgaon for Rs.12,000 Crore

Vatika Business Centre has entered the co-working spaces segment with the launch of its first office in Gurgaon at Vatika Atrium, Golf Course Road

Air India, as a part of its asset monetization programme, has started the process of leasing out 25,000 sq.ft. of office space at landmark C R Avenue locality of Central Kolkata

Indiabulls Asset Management Company's private equity arm is planning to raise Rs.1,500 Crore through its new real estate fund Dual Advantage Commercial Asset fund (DACA)

PepsiCo India has sold a 2.5-acre land parcel in the central suburb of Chembur to The Wadhwa Group, a real estate development firm, for a consideration of Rs.190-200 Crore

Lodha Group has launched its maiden investment fund with an initial corpus of Rs.50 Crore to invest in real estate tech ventures focused on smart city solutions and the overall realty sector

Oberoi Realty has acquired a 4-acre land parcel from GlaxoSmithKline, with plans to develop 1 million sq.ft. of mixed use project

Altico Capital has invested Rs.180 Crore in Sheth Corp’s residential project ‘Project Zuri’ in Thane


KolkataBengaluru MumbaiGurgaon

Key transactions during the quarter

Infosys is planning to build an IT-operations facility on 28 acres of land parcel in Noida with a total investment of about Rs.5,000 Crore


22%

6%

Xander Group has acquired Express Trade Towers, a fully leased 500,000 sq.ft. IT park located in Noida, from IL&FS Investment Managers. The deal was valued at Rs.300 Crore

Honda India has acquired a 380-acre land parcel in Vithalapur, Gujarat, at a cost of Rs.1,000 Crores, to set up a new assembly line

Embassy Industrial Parks, a joint venture between Embassy Group and PE firm Warburg Pincus, is investing Rs.350 Crore to build a 1.1 million sq.ft. industrial park at Chakan, Pune

Marvel Realtors, a Pune based real estate developer, raised Rs.150 Crore in the form of structured debt from Piramal Fund Management; the company seeks to utilize the funds towards construction of a residential project in Pune

Phoenix Group has raised a credit line of Rs.300 Crore from Altico Capital. The funding is proposed to be utilized towards refinancing of some of its existing lenders and for the construction of two of its projects in Hyderabad


Pune

Noida HyderabadAhmedabad

Key transactions during the quarter

Xander Group has invested around Rs.120 Crore in a plotted development project of VGN Property Developers in Ambattur, West Chennai


22%

L&T Realty has sold its 51 per cent stake in a township project at Siruseri Chennai for Rs.190 Crore to Pragnya Group


Chennai

ANURAG JHANWAR, MRICSHead – Consulting and Data Insights [email protected]+91 - 99678 49666

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