FOREWORD - property.magicbricks.comproperty.magicbricks.com/microsite/buy/propindex/... · “average rent per square foot” reflects rental appreciation/drop. However, in a few

With PropIndex-Jan-Mar 2015, the index is now four years old. This historicfourth edition of the fourth volume comes with some positive trends.

l Property buyers are actively searching for houses but are looking forbigger units within the same budgets

l In key real estate markets such as Delhi, Mumbai and Pune over 60 per centlocalities have witnessed a rise in asking values. This follows a drop invalues over the previous two quarters

l In line with the previous quarter, demand for apartments dropped by up to10% across cities except Bangalore, Coimbatore and Chennai. This gaveway to rise in demand for plotted units and independent houses

l Demand for 3BHK units has gained momentum in stark variance to theprevious quarters where 1 and 2BHKs had been in demand

l Supply has remained stable across cities

l Rental markets remained robust

There was a clear shift in user preferences towards larger housing units.While demand grew for 3BHK units, it dropped for 1 and 2BHK units acrosscities except in Coimbatore and Vadodara. A rise of 3-10 per cent was notedin the demand for 3BHK units across different cities.

Cities with a large volume of value-for-money homes posted better indexvalues. In the Jan-Mar 2015 quarter Noida registered the highest rise of 9 per cent while Mumbai recorded the highest drop of 6 per cent.

Rental markets were upbeat across all cities tracked. It was particularlypostive in cities such as Delhi, Mumbai and Pune. Enhanced preference forlarger dwellings was also visible in the increased demand for residentialhouses and plots across different cities. However, buyers seemed unwilling toextend their budget for a larger home. Mid-segment properties priced at Rs 40-100 lakh were most preferred.

These are changing times and we would love to hear from you. Do write to usat [email protected] and share yours views on this report and howwe could make PropIndex even better.

You may also share your opinion with #PropIndex on our Twitter handle@magicbricks or connect with us on Facebook at www.facebook.com/magicbricksTOI.

FOREWORD

Sudhir PaiCEO, Magicbricks.com

Magicbricks PropIndex

Magicbricks PropIndexis a tool whichempowers propertyseekers and investorswith detailedinformation on themovement of residentialapartment prices andsupply of properties inIndia. No credibleproperty index can be afunction of direct valuesas the changes aregoverned by multiplefactors.

Magicbricks PropIndexhas taken this realityinto account andproduced an index basedon listing of apartmentsand their capital andrental values on thewebsite.

“Magicbricks has over800,000 active propertiesposted by more than1,40,000 active users in300+ cities and 10,000+localities. Our usersinclude owners, agentsand developers.”

Methodology

Apartment values arebased on listings onMagicbricks. Theseinclude multi-storeyapartments and singleunits on plotteddevelopments, referredto as builder floors onMagicbricks.com.

The Index is structuredin such a way thatindividual properties

are aggregated into theirrespective cities andthen to the NationalIndex. Weightages forPropIndex are based onthe supply of propertieswithin the locality/city.Based on this structure,PropIndex gives arealistic picture oftrends in price/supplyacross different propertymarkets in each city. Wehave used differentweightages for ListedPrice Monitor/RentMonitor. Therefore, readas a whole, PropIndexalong with tablesprovided for Listed PriceMonitor, Rent Monitor,Yield Monitor andCapital Values, gives anexcellent perspective ofthe property marketperformance in thequarter.

While listing and itsvalues/supply provide alevel of understandingof the market, there aremeticulous data checksto prevent aberrationscreeping in the Index.These are based onstatistical calculations,industry inputs andlogical interpretations.

The National PropertyIndex (NPI) is indicativeof the extent of activityas well as pricemovements across citiesand localities in themajor cities active onMagicbricks.com. Theindex includes the top11 cities (these have

been chosen based ontheir activity levels) andhas an individual cityreport for each of thesecities. While the NPI andits movements are ofinterest to the expertcommunity of bankers,builders and investors,the PropIndex has alsotaken care to explain thenuances of indexmovements at thelocality level that wouldhelp the huge base ofMagicbricks.comconsumers.

Insights into consumerdemand have beengathered throughanalysis of searchinformation on the site.This helps understandthe best localities bydemand, the type andconfiguration of units aswell as the budget-wisepreferences.

The PropIndex is theresult of meticulousresearch at the localitylevel and throughdetailed discussionswith experts atMagicbricks.com’soffline and onlineinitiatives.

The Indian real estatemarket is dynamic andthe PropIndex reflectsthose changes. Since it isderived from a dynamicdatabase, additions anddeletions of localitieshappen as a function ofmarket dynamics.

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 Jan-Mar 2015quarter from different perspectives – from that of capital appreciation, from a rental/yield realisationperspective and from a supply standpoint. Demand Analysis section also explains what consumers look for.

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 the 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/drop. 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/drop. However, in a few select 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 2014 and Jan-Mar 2015 quarters.

7. Editorial Speak – PropIndex has gone from strength to strength – adding more analytics, insights anddiverse views in every edition. To enhance the insights provided by our data PropIndex now includes cityperspectives from editors of Times Property.

GLOSSARY & DEFINITIONS

JAN-MAR 2015

The National Property Index(NPI) remained almost stable inthe past 18 months. During the Jan-Mar 2015 quarter, the NPInoted no change.

NPI is the weighted average ofsupply and values across 11 citiesin India. In this quarter, we haveincluded Vadodara andCoimbatore. Out of the 13 tracked cities, five noted a risein the City Index value between 1-9 per cent. Noida recorded themaximum rise in the City Indexvalue by 9 per cent, followed by 5 per cent in Coimbatore.

Overall active supply dropped by10 per cent across India. Gurgaon,Noida and Mumbai notedmaximum drop in supply.

Rise in the average capital valuesacross cities kept the NPI stable.

Mumbai recorded the maximumdrop of 6 per cent in the CityIndex value and Chennai was thesecond highest by 4 per cent.

Bengaluru, Gurgaon, Hyderabadand Pune City Index value saw nochange in the current quarter.

Mumbai, Bengaluru and Delhicontinued to be the mostpreferred cities for sale and rent.

On the supply side, no major newlaunches were noted across cities.Supply across budget, BHK andproperty type was almost stable incomparison to the last quarter.

Rental market continued toremain upbeat in the last sixmonths. Over 60 per cent localitiesacross the city recorded a rise inthe average rental values.

However, the capital market is yetto see any significant surge. Thereal estate activity remained slowin the Jan-Mar 2015 quarter.Absence of any favourable realestate policy in the budget 2015and no significant cut in theinterest rates by RBI wasattributed to the slow growth inthe real estate market in India.

This has translated into a drop inconsumer sentiments, which is

also reflected in the HousingSentiment Index (HSI) report.Post Budget 2015 sentimentplunged by 29 per cent to HSI 84.Sentiments have been steadilyfalling in the last few quartersafter the election euphoria.

n Property pricedwithin Rs 30-50 lakhrecorded maximumdemand at 28 percent, noting aconsistent rise indemand

n Rental marketsremained upbeatacross cities andcapital values surgedin North India

n Units of 3BHKgained preferenceover 2BHK in 9 out of 11 majorcities

n Demand for plottedunits went up acrossIndia

n Supply was almoststable across BHKsegments

IN THIS REPORT:

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

Bengaluru..................................4

Annexures................................13

Policy Perspective.....................14

NATIONAL PROPERTY INDEX (NPI)

VOL 4, ISSUE 4; JAN-MAR, FY 2014-15

JAN-MAR 2015

propindex.magicbricks.com

Source:Magicbricks.com

NATIONAL PROPERTY INDEX

l Delhi, Gurgaon, Ghaziabad inNCR and Bengaluru in theSouth noted maximum increasein demand for 3BHK categoryby 9-10 per cent from theprevious quarter

l Properties worth up to Rs 70 lakh witnessed a rise indemand by 9 per cent over theprevious quarter

l Bengaluru and Kolkatacontinued to offer highestrental returns on investment

In Ahmedabad no major changewas registered in the residentialsupply. The City Index recorded anominal rise of 1 per cent. ExceptPrahalad Nagar and SP RingRoad, no other locality noted asignificant rise or drop in thesupply. Over 55 per cent of theresidential inventory consists ofapartments priced at Rs 3,000-5,000per sq ft. Areas such as Bopal andGota noted maximum supply.

Almost equal number of localitiesin Bengaluru recorded a rise ordrop in the average capital values.Over 10 per cent drop wasrecorded in the active marketwhich made no change in the CityIndex. Whitefield, Sarjapur Road,Electronic City, Kankapura Road

and Bannerghatta Roadcontributed to almost 30 per centof the total residential supply. Theaverage apartment values alongthese corridors saw a nominalchange within -2 to 3 per cent.

Coimbatore recorded a rise inaverage property values by 2-9 per cent, except in Trichy Roadand Saibaba Colony resulting in arise in the City Index value by 5 per cent and the Listed PriceMonitor by 3 per cent. Majority ofthe localities in the city offeredapartments in the range of Rs 3,500-5,000 per sq ft.

Over 15 per cent drop wasrecorded in Chennai’s activelistings with a 44 per cent drop inthe average capital values of thetracked localities, resulting in a 4 per cent drop in the City Indexvalue. The rental market showedan upward trend. Nearly 75 percent of the tracked localitiesnoted a rise between 1-10 per centin the average rental values.

Delhi City Index rose by 3 per cent and the Listed PriceMonitor by 5 per cent. Almost 60 per cent of the trackedlocalities recorded a rise in theaverage capital values. Rentalmarket outperformed the capitalmarket. Close to 80 per cent

localities noted a rise in theaverage rental values. Almost 60 per cent localities noted a risebetween 1-9 per cent.

Ghaziabad’s active listings ofapartments registered a drop ofover 20 per cent. Close to 50 per cent of the trackedlocalities also witnessed a drop inthe average capital values by 0-4 per cent. As a result, the CityIndex dropped by 3 per cent.Areas offering maximum optionssuch as Indirapuram, Raj NagarExtension and Crossings Republikshowed 0-1 per cent drop inaverage capital values.

In Gurgaon, over 15 per cent dropin active market supply coupledwith a drop in the average capitalvalues arrested the growth of theCity Index. Majority of the

02VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

-1%

Locality RankQ4 Q3

Mumbai 1 1

Bengaluru 2 2

Pune 3 3

New Delhi 4 5

Hyderabad 5 4

Chennai 6 6

Kolkata 7 7

Gurgaon 8 8

Noida 9 9

Ahmedabad 10 10

Preferred Cities - Sale

Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014

Preferred Cities - Rent

Locality RankQ4 Q3

Bengaluru 1 1

Mumbai 2 2

Pune 3 3

New Delhi 4 4

Chennai 5 5

Gurgaon 6 7

Hyderabad 7 6

Noida 8 9

Kolkata 9 8

Ahmedabad 10 10Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014




03VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com

localities noted a rise or drop inthe average capital values between-3 to +3 per cent. Close to 60 percent tracked localities noted a risebetween 1-9 per cent in rentalvalues. Residential developmentsalong Sohna Road and Golf CourseRoad continued to top thepreference chart for twoconsecutive quarters.

Hyderabad recorded a 17 per centdrop in the active supply arrestingthe growth of the City Index andkeeping it stable. Close to 60 percent of the tracked localitiesexhibited an increase in themonthly rentals. Madhapur,Kondapur, Banjara Hills andGachibowli offered the highestnumber of apartments on rent.These are also among the top tenpreferred localities in the city.

A drop of 1-2 per cent was noted inthe supply of properties inKolkata. Almost equal number oflocalities recorded rise or drop inthe average capital values. This ledto a small drop of 1 per cent in theCity Index value and 2 per cent inthe Listed Price Monitor. Over 65 per cent localities recorded arise in the average rental values.Majority of the areas saw a risebetween 2-8 per cent.

Mumbai noted a drop in the activesupply by almost 10 per cent. Thispushed the City Index down by 6 per cent. Over 60 per cent trackedlocalities noted a rise in the

average capital values. Mumbairecorded the maximum rise ordrop in average capital valuesbetween -9 to +7 per cent.Kharghar, Mira Road andGhodbunder Road offeredmaximum options for sale.

Over 40 per cent localities inNoida recorded a rise in averagecapital values between 1-8 per cent,coupled with increase in supplyleading to a 9 per cent rise in theCity Index. Sectors 76, 77, 78 and137 noted maximum options forsale. Sectors 50, 93A and 104offered maximum options for rent.

Almost equal number of localitiesin Pune recorded a rise or drop inthe average capital values andmerely 5 per cent recorded a dropin housing stock, keeping the CityIndex unchanged. In the rentalmarket, over 80 per cent of thetracked localities noted a rise inaverage values. Of which over 50 per cent witnessed a rise inrental values by over 5 per cent.

Majority of the localities inVadodara recorded a rise in theaverage capital values with a smalldrop in supply. This led to amarginal increase in the CityIndex by 1 per cent. However, theListed Price Monitor remainedunchanged. In line with the capitalmarket, rental market also saw arise. Over 90 per cent localitiesregistered increase in valuesbetween 2-10 per cent.

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 - Consumer Budget Preference30%

25%

20%

15%

10%

5%

0%3%

8%

28%

22%15%

15%9%

TOP YIELD GROSSERS

Gross yield is a ratio of average annualrental value to the average capital valueof the property. Given below are the topyield-grossing localities in each city.

Locality Gross Yield

Bengaluru, Hoodi 5.49%Kolkata, Banshdroni 4.77%Hyderabad, Gachibowli 4.72%Delhi, Govindpuri 4.34%Chennai, Sholinganallur 4.11%Pune, Mundhwa 4.04%Ghaziabad, Shakti Khand 3 4.03%Ahmedabad, Prahlad Nagar Extn 3.91%Mumbai, Kanjur Marg East 3.83%Noida, Zeta 1 3.25%Gurgaon, Sector-69 2.70%

CAPITAL GAINS

The table given below indicates maximumincrease in capital values in each city.

Locality % Change

Bengaluru, Silk Board 10.45%

Chennai, Nungambakkam 8.18%

Ahmedabad, Ghatlodia 8.11%

Delhi, Gulmohar Park 7.58%

Hyderabad, Jubilee Hills 6.33%

Pune, Koregaon Park 6.19%

Kolkata, Kestopur 5.89%

Gurgaon , South City II 5.38%

Mumbai, Wadala 5.34%

Noida, Omicron-3 5.20%

Ghaziabad, Mohan Nagar 4.68%



BENGALURU 04VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

PROPINDEX - BENGALURU

Connectivity is the keyConnectivity continues to remain a keyfactor driving the real estate market inBengaluru. The accessibility of anylocality – through a signal-free corridor,the upcoming Metro Rail or upgradedroad – brings the locality a premiumtag. Commercial and residentialdevelopment is related to thedevelopment and up gradation ofconnectivity which was witnessed inthe signal-free Outer Ring Road andelevated roads.

The city’s emerging destinations suchas Devanahalli, Hoskote Road andsuch peripheral localities are sought-after today with the connectivity beingdeveloped to bring them closer to thecore city areas. This apart, the largeland parcels available there at relativelylower rates is fuelling the growth ofboth office space and retaildevelopments. These localities,especially in the east and south, havebecome residential catchments for theIT hubs in the belt.

The city’s Metro Rail project which willbe operational in the near future willchange the perception of manylocalities that will be within half an hourfrom the Central Business District. TheSouth and East apart, the North ishosting a significant amount of ITspace. The Outer Ring Road has turnedinto a micro-market in its own rightwith large IT development, fuelling thedevelopment of a thriving residentialproperty market along the corridor tocater to the large workforce employedin these facilities. In the North, theupgraded Bellary Road connecting tothe international airport has drawndevelopers. The elevated expresswayover Bellary Road is set to fuel furtherdevelopment of both commercial andresidential spaces beyond.

Connectivity is a key factor in the realestate market. It will push rates in thelocalities served. At the moment, theselocalities offer value buys.

The key for investors is to track theseprojects and park funds in Grade-Arealty that is strategically-located. Therental and capital values are bound toappreciate sharply once these projectsare complete.

[email protected], Times Property, Bengaluru

The Bengaluru City Index remained stable in the Jan-Mar 2015quarter as compared to the 1 per cent rise noted in the lastquarter. The Listed Price Monitor grew by 1 per cent in thecurrent quarter while it had remained stable in the Oct-Dec 2014 quarter.

l Almost equal number ofBengaluru localities recorded arise or drop in the averagecapital values. Over 10 per centdrop was recorded in the marketlistings which made no change inthe City Index when compared tothe previous quarter

l Whitefield, Sarjapur Road,Electronic City, Kankapura Roadand Bannerghatta Roadcontributed to almost 30 per centof total active residential supply.In comparison to the previousquarter, the average apartmentvalues along these corridorswitnessed a nominal changefrom - 2 to 3 per cent.

l Almost 55 per cent of totalapartment supply is Rs 2,500-5,000 per sq ft. Only 10 per cent of total apartments inBengaluru are commanding Rs 10,000 per sq ft and above.

l Over 65 per cent of totallocalities registered a rise of 1-10 per cent rental values

l Lavelle Road, Cunningham Roadand Richmond Town are some ofthe areas with highestunchanged rental values

l Bengaluru offered one of thehighest rental returns oninvestment across the top 11cities between 2.26-5.79 per cent.Over 50 per cent localities offergross annual yield of 4 per centand above

l Demand for 3BHK units went upby 9 per cent. All other sizesrecorded a drop in demandbetween 2-4 per cent. Supplyremained almost stable

l Central and East Bengalururegions recorded 11 per centincreased demand for 3BHKcategory. Supply dropped by 1-2 per cent

l Demand across the residentialhousing category remainedintact with a 1-2 per centvariation. West Bengaluru saw 6 per cent increased supply ofapartments whereas plottedunits noted a drop of 6 per cent

l Bengaluru witnessed maximumdemand for properties worth Rs 40-60 lakh and Rs 60 lakh-Rs 1 crore, almost 30 per centeach. However, the city recordedabout 9 per cent and 11 per centshortage in supply

Key Takeaways

E d i t o r i a l


BENGALURU05VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com

l The Bengaluru Price Monitor rose by 1 per cent inthe Jan-Mar 2015 quarter as compared to the stablemonitor witnessed in the last quarter

l Capital values displayed a mixed trend with 45 per cent of the tracked localities recording a risewhile 47 per cent localities witnessed a drop

l HSR Layout recorded a rise of 6 per cent capitalvalues, the highest in the city, negating the dropposted in the last quarter

l Localities that witnessed a drop in capital valuesincluded JP Nagar, Yelahanka, Kanakpura Road and Hebbal. A drop of 1-3 per cent was recorded inthese locations

L I S T ED PR I CE MON I TOR

Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield

Bannerghatta Road 15.00 4,400 4.09%Koramangala 24.50 9,020 3.26%Whitefield 16.00 4,420 4.34%JP Nagar 17.00 4,390 4.65%Malleswaram 22.00 11,685 2.26%Hebbal 15.00 5,820 3.09%Sarjapur Road 17.75 4,675 4.56%HSR Layout 19.25 4,525 5.10%Marathahalli 17.50 4,530 4.64%Hoodi 17.00 3,715 5.49%

Y I E L D M E T E R

l The Magicbricks yield meter continued to clockhigh returns in the city during the Jan-Mar 2015

l The yield meter ranged from 2.26-5.49 per cent inthe current quarter

l Hoodi recorded the highest yield of 5.49 per cent inthe current quarter. This may be attributed to the

low capital values of around Rs 3,715 per sq ft andhigh rental values of Rs 17 per sq ft per month

l HSR Layout also recorded rental returns of morethan 5 per cent. Relatively stable capital values inthe last six months and rising rental values hasresulted in this

RENT MON I TOR

l As observed in the last quarter the rental marketremained upbeat with nearly 68 per cent of thelocalities recording a rise in rental values

l Rise in values ranged between 1-9 per cent in thecurrent quarter. Cambridge Layout and KanakpuraRoad recorded the highest rise in values in thecurrent quarter

l Other locations such as Jalahalli, Kundalahalli, HSR Layout and Brookfield also recorded a rise of 6-8 per cent in rental values

l Some of the localities that recorded a drop in valueswere Jayanagar, Electronic City and Hebbal. A dropof 3-4 per cent was posted in these locations

1%Source:Magicbricks.com Source:Magicbricks.com



PREFERRED LOCALITIES

l IT driven localities remained the preferred locationsfor buying a property in Bengaluru. Whitefieldcontinued to be the most preferred topping the listonce again

l Sarjapur and Electronic City retained their spots atnumber two and three. While Sarjapur recorded arise of 3 per cent values, a drop of 1 per cent wasnoted in Electronic City

l HSR Layout witnessed increased demand whichpushed up capital values by 6 per cent

l Both Bannerghatta and Rajarajeshwari Nagarinched up by two positions each to settle at numberfive and six respectively

l Marathahalli slipped to the ninth position ascompared to the fourth in the Oct-Dec 2014 quarter

l Kanakpura Road and KR Puram were the newentrants on the list in the Jan-Mar 2015 quarter.While KR Puram stood at the eighth spot KanakpuraRoad was number ten

l HSR Layout topped the list of preferred localitiesmoving up one spot from the last quarter. Thelocality recorded a rise of 7 per cent in rental values

l Both Whitefield and Indira Nagar improved theirstandings on the list. Whitefield settled at numbertwo while Indira Nagar was at the third spot

l Demand dropped for Koramangala. It slipped fromthe top spot to number four. Marathahalli alsodropped three spots to settle at number six

l Bellandur and BTM Layout moved up one positioneach on the list of preferred localities in the currentquarter. While Bellandur settled at number fiveBTM Layout was at number nine

l Both Electronic City and Sarjapur Road retainedtheir spots on the list at number seven and eightrespectively

l Kundalahalli was a new entrant in the list. It settledat number ten position

RENT

Locality Rank Capital %ageQ4 Q3 Values change

Whitefield 1 1 3960 to 5250 1%

Sarjapur Road 2 2 4150 to 5610 3%

Electronic City 3 3 2960 to 3890 -1%

HSR Layout 4 5 4090 to 5310 6%

Bannerghatta Road 5 7 3910 to 5280 3%

Rajarajeshwari Nagar 6 8 3470 to 4270 -1%

Indira Nagar 7 9 7010 to 8970 0%

KR Puram 8 - 3270 to 4070 2%

Marathahalli 9 4 4070 to 5360 4%

Kanakapura Road 10 - 4120 to 5400 -2%

SALE

Locality Rank Rental %ageQ4 Q3 Values change

HSR Layout 1 2 17000 to 21500 7%

Whitefield 2 4 14000 to 18000 3%

Indira Nagar 3 5 19000 to 24000 2%

Koramangala 4 1 21000 to 28000 4%

Bellandur 5 6 16500 to 20500 6%

Marathahalli 6 3 15500 to 19500 3%

Electronic City 7 7 11500 to 15000 -4%

Sarjapur Road 8 8 15500 to 20000 1%

BTM Layout 9 10 15500 to 20000 6%

Kundalahalli 10 - 15500 to 19500 8%

Devanahalli, Bagaluru, Hoskote, ITPL, Mysore Road

Home in your Budget

Upto Rs 20 Lakh

l Devanahalli, Bagaluru, Hoskote,ITPL, Mysore Road, Nelamangalaoffered high supply of propertiesworth up to Rs 20 lakh

l Properties in the range of Rs 60 lakh-Rs 1 crore wereavailable in Kudlu, BannerghattaMain Road, Yelahanka, Jakkurand Kudlu

l Properties worth Rs 1 crore andabove were available inWhitefield, Sarjapur Road,Koramangala and Hebbal

Kanakapura Road, Hongasandra, KR Puram, Hosa RoadRs 20-40 Lakh

Hennur Main Road, Rajarajeshwari Nagar, UttarahalliRs 40-60 Lakh

Bannerghatta Main Road, Yelahanka, Jakkur, Kudlu Rs 60-100 Lakh

Whitefield, Sarjapur Road, Koramangala, Hebbal Rs 1 Crore & Above

Source:Magicbricks.com Source:Magicbricks.com


Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014Note: Q4 Jan-Mar 2015, Q3 Oct-Dec 2014


Budget wise Analysis

l Over 60 per cent demand wasrecorded for properties priced Rs 40 and Rs 1 crore. Supply was 18 per cent lower at 42 per cent.Properties priced above Rs 1 crorewitnessed an oversupply

l Affordable to mid-range propertiespriced up to Rs 40 lakh wereoversupplied. Supply in thesegment led demand by 13 per cent.While supply stood at 35 per cent,demand was at 22 per cent

DEMAND - S UPP LY ANALYS I SAs compared to other cities, preference for apartments was less in comparison to residentialhouses and plots. The latter two options captured the major chunk of the buyer demand. At thecity level, demand for apartments settled below 50 per cent while supply was much higher at 67 per cent.

Mid-segment properties valued between Rs 40 lakh and Rs 1 crore were most in demand. Thecategory formed more than 60 per cent of the total demand in the city. Premium properties pricedabove Rs 1 crore were oversupplied in the market. The 2BHK category was most in demandforming almost half of the total demand.

Property wise Analysis

l Bengaluru recorded the lowestsupply of apartments across thecountry. At 49 per cent demand, arise of 2 per cent from the lastquarter, it fell short of the supplyby 18 per cent

l Demand for residential housessettled at 27 per cent, demand forplots settled at 24 per cent. Supplyof houses was low at 10 per centwhile plots registered almostequilibrium between demand andsupply at 23 per cent

BHK wise Analysis

l The 2BHK category formed morethan 50 per cent of the demand inthe market. Demand settled at 52 per cent, 3 per cent lower thanthe last quarter. Supply wasslightly lower at 48 per cent

l A significant rise of 9 per cent wasrecorded in the demand for 3BHKunits. It grew from 31 per cent inthe last quarter to settle at 40 per cent. Supply kept pace withdemand at 39 per cent

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

3Figures in pe

rcenta

ge(%)

Figures in Rs lakh

3

21 19

30 32 29 30

17 16

(Oct-Dec 2014)(Jan-Mar 2015)

Budget wise Analysis - City Level

DEMAND

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

10

Figures in pe

rcenta

ge(%)

Figures in Rs lakh

12

23 23 24 23 21 1922 23


SUPPLY

BHK wise Analysis - City Level

60

50

40

30

20

10

0

106

55 52

31

40

4 2


Figures in pe

rcenta

ge(%)

1BHK 2BHK 3BHK 4BHK &above

DEMAND SUPPLY60

50

40

30

20

10

03 3

47 4840 39

10 10


Figures in pe

rcenta

ge(%)

1BHK 2BHK 3BHK 4BHK &above

Property wise Analysis - City Level

80

60

40

20

0

47 49

29 27 24 24


Figures in pe

rcenta

ge(%)

Apartment Residential House Residential Plot

DEMAND80

60

40

20

0

66 67

11 10

23 23


Figures in pe

rcenta

ge(%)

Apartment Residential House Residential Plot

SUPPLY

Source:Magicbricks.comSource:Magicbricks.com



BHK wise Analysis


Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY


l Demand for properties priced at Rs 40-60 lakh grew by 2 per cent inthe Jan-Mar 2015 quarter. Supply, however, lagged demand by almost10 per cent to settle at 23 per cent

l As compared to the demand, supply was found to be low even for theRs 60 lakh-Rs 1 crore category. While demand stood at 28 per cent,supply lagged by more than 10 per cent at 17 per cent

l Supply led demand by 9 per cent in the Rs 20-40 lakh category. At 30 per cent supply, it was the most supplied category. Demand almostmatched supply for premium properties priced above Rs 1 crore

DEMAND SUPPLY

DEMAND & SUPPLY - South Bengaluru

Buyers were more keen on properties in the range of Rs 40 lakh to Rs 1 crore. Thesegment recorded a demand of 60 per cent in the Jan-Mar 2015 quarter. Supply, on theother hand, was concentrated on properties in the range of Rs 20-60 lakh.

Buyer interest shifted towards the 3BHK category with segment recording a rise of 8 per cent in the current quarter. However, maximum demand and supply was recordedfor the 2BHK category. Apartments were the most supplied property type in the zone. Itformed 70 per cent of the total supply in the market.


l A slight rise of 2 per cent was recorded in the demand forapartments in South Bengaluru. Demand settled at 49 per cent whilesupply led demand by almost 20 per cent at 70 per cent

l Residential houses recorded a demand of 28 per cent in the Jan-Mar 2015 quarter, 1 per cent lower than the last quarter. Supplywas much lower at 10 per cent

l A rise of 3 per cent was recorded in the supply of plotteddevelopments in the zone. The category posted a supply of 20 per cent. Demand in the segment was three per cent higher thanthe existing supply. It settled at 23 per cent in the current quarter

BHK wise Analysis

l A significant rise of 8 per cent was recorded in the demand for3BHK units in the zone. Demand in the category grew from 33 per cent to settle at 41 per cent thus matching the supply whichstood at 40 per cent

l The 2BHK category remained the most preferred as well as thesupplied in the Jan-Mar 2015 quarter. While demand settled at 52 per cent, supply lagged by 3 per cent at 49 per cent

l An oversupply of 8 per cent was recorded for the 4BHK and abovecategory. Demand was almost negligible at 1 per cent while supplystood at 9 per cent. Both demand and supply of 1BHK unit was low

Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)1 BHK

2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


Q3 Q4

2121

30 32

28 28

19 17Q3 Q4

12

30

25

18

18

17

23

30

10

17

Q3 Q4

47 49

Q3 Q4

72

11

70

10

Q3 Q4

5255

4133

Q3 Q4

4949

39 409

9

Q3 (Oct-Dec 2014)Q4 (Jan-Mar 2015)Apartment

Residential house

Residential plot

29

24 23

28

17 20

8

6




BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY


l The budget range of Rs 60 lakh-Rs 1 crore witnessed the maximumdemand during the Jan-Mar 2015 quarter. Demand in the segmentstood at 30 per cent, a rise of 2 per cent from the last quarter. Supplywas 10 per cent lower at 20 per cent

l Almost similar demand was also noted for properties priced at Rs 40-60 lakh. Demand in the category stood at 29 per cent whilesupply was much lower at 22 per cent

l An oversupply of 9 per cent was recorded for properties in thepremium segment (Rs 1 crore and above). Demand for theseproperties inched by 2 per cent to settle at 2 per cent while supplyled demand at 29 per cent

DEMAND SUPPLY

DEMAND & SUPPLY - North Bengaluru

Demand in different property types remained almost equally divided in the Jan-Mar 2015quarter. Apartments remained the most preferred category with 37 per cent demand whileother categories also recorded more than 30 per cent demand each.

Almost 60 per cent demand was for properties priced at Rs 40 lakh to Rs 1 crore. Supply ofthe same was much lower at 42 per cent. Properties priced above Rs 1 crore were the mostsupplied category with more 29 per cent availability. Exactly equal supply of 42 per centeach was recorded for the 2 and 3BHK categories.


l As compared to the Eastern and Central parts of the city, NorthBangalore recorded a low demand for apartments. It settled at 2 per cent lower than the Oct-Dec 2014 quarter at 37 per cent.However, supply inched up marginally by 1 per cent to settle at 51 per cent

l Demand for residential houses stood at 31 per cent, similar to whatwas recorded in the last quarter. Supply, in the category, however,lagged demand by 20 per cent

l Supply of plots led demand by 6 per cent in the Jan-Mar 2015quarter. While demand in the segment stood at 32 per cent, supplysettled at 38 per cent

BHK wise Analysis

l An increase of 9 per cent was recorded in the demand for 3BHKunits in the Jan-Mar 2015 quarter. It jumped from 31 per cent in thelast quarter to 40 per cent in the current quarter. Supply stoodunchanged from the last quarter at 42 per cent

l The 2BHK category remained the preferred configurations in thezone. The segment witnessed a demand of 52 per cent, 3 per centlower than the last quarter. Supply was 10 per cent lower at 42 per cent

l A significant oversupply of 11 per cent was recorded for largerhousing formats of 4BHK and above. Supply in the segment stood at13 while demand was low at 2 per cent


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


Q3 Q4

21 17

18

29

3028

29

20Q3 Q4

15

14

17

18

20

22

22

29 29

14

39 37

Q3 Q4

50 51

Q3 Q4

10 11

Q3 Q4

55 52

31 40

Q3 Q4

42 42

42

1315

41

9


Residential house

Residential plot

30 32 40 38

31 31

6




BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY


l Demand for properties priced at Rs 40 lakh to Rs 1 crore witnessed aslight upward movement. It grew by 6 per cent to settle at 65 per centas opposed to the 59 per cent demand recorded in the last quarter

l Both demand and supply dropped for premium properties. Supply inthe segment at 32 per cent led demand by a considerable margin ofnearly 15 per cent

l Affordable and mid-segment properties priced up to Rs 40 lakh wereoversupplied in the Jan-Mar 2015 quarter. While supply stood at 28 per cent, demand was at 17 per cent

DEMAND SUPPLY

DEMAND & SUPPLY - Central Bengaluru

Central Bengaluru recorded the highest demand for apartments across the city. Close to 80 per cent of the supply in the market was for apartments. Other property typesdisplayed low to moderate demand and supply figures in the Jan-Mar 2015 quarter.

Buyer demand grew for the 3BHK category. Demand in the segment settled at 44 per centas compared to 33 per cent posted last quarter. However, the 2BHK category continued tobe the most preferred and supplied category. Premium properties priced above Rs 1 crorewere oversupplied in the zone.


l Both demand and supply of apartments stood unchanged since thelast quarter. While demand stood at 73 per cent, supply led demandby 6 per cent at 79 per cent. This was the highest supply recordedacross all zones

l Remaining demand in the market was almost equally dividedbetween residential houses and plots. While the former recorded ademand of 13 per cent the latter stood at 14 per cent demand

l Supply fell short of demand for residential houses. A short fall of 5 per cent was recorded for the same. Supply of plots matched thedemand recorded in the category

BHK wise Analysis

l In Central Bengaluru, demand dropped for 2BHK units in the Jan-Mar 2015 quarter. It dropped from 54 per cent in the last quarterto settle at 48 per cent in the current quarter. Supply settled at 45 per cent, 2 per cent higher than the last quarter

l An increased demand was noted for the 3BHK units. A rise of 11 per cent was recorded for the same pushing up the demand to 44 per cent in the current quarter. Supply kept pace with demand at 42 per cent

l An oversupply of 8 per cent was noted for properties with 4BHK andabove configurations. Supply in the category stood at 10 per centwhile demand was low at 2 per cent


2 BHK

3 BHK

4 BHK & above

Q3 Q4

1516

30

29

34

31

23 18Q3 Q4

23

20

3234

20

Q3 Q4

5448

33 44

Q3 Q4

44 42

43

11

45

10

DEMAND SUPPLY


Q3 Q4

73 73

Q3 Q4

799

798 Q3 (Oct-Dec 2014)

Q4 (Jan-Mar 2015)Apartment

Residential house

Residential plot

13

14 14

13

12 13

9

17

21

20

6

8




BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY


l Premium properties priced above Rs 1 crore were the most suppliedin West Bengaluru. At 26 per cent, supply in the category led demand by 8 per cent. Demand settled at 18 per cent in the Jan-Mar 2015 quarter

l The Rs 40-60 lakh and Rs 60 lakh-Rs 1 crore budget ranges recordedalmost the same demand of 27 per cent and 26 per cent respectively.Supply in the Rs 40-60 lakh category dropped by more than 10 per cent in the current quarter

l An oversupply of over 10 per cent was recorded for affordableproperties priced up to Rs 40 lakh. The category recorded a rise of 7 per cent in the current quarter

DEMAND SUPPLY

DEMAND & SUPPLY - West Bengaluru

The Western part of the city recorded the lowest demand for apartments at 35 per cent.Demand for residential houses and plots stood at 32-33 per cent. However, supply in themarket was aligned towards apartments with more than 50 per cent availability.

2BHK units were the most preferred as well as the most supplied category. The currentquarter saw a rising demand for 3BHK units which recorded a growth of 6 per cent indemand. Affordable to mid-segment properties priced up to Rs 40 lakh were oversuppliedby more than 10 per cent.


l West Bengaluru recorded the lowest demand of apartments in thecity. It dropped from 37 per cent in the last quarter to settle at 35 per cent. Supply, on the other hand, increased by 6 per cent tosettle at 55 per cent

l Both demand and supply of residential houses remained almostunchanged in the last three months. While demand stood at 33 per cent, supply was much lower at 12 per cent

l Demand for plots witnessed an increase of 3 per cent from the lastquarter. It settled at 32 per cent as compared to the 29 per centdemand recorded in the last quarter. Supply on the other hand,dropped by 6 per cent to settle at 33 per cent

BHK wise Analysis

l Nearly 60 per cent of the demand in West Bengaluru was for 2BHKunits making it the most preferred category. It was also the mostsupplied category with more than 45 per cent supply

l A rise in demand was recorded for the 3BHK units. It grew from28 per cent to 34 per cent in the last six months. Supply led demandby 4 per cent to at 38 per cent

l An oversupply of 8 per cent was recorded for the 4BHK and abovecategory. Supply in the category dropped by 2 per cent from the lastquarter to settle at 12 per cent. Demand was almost negligible at 1 per cent


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY

Q3 Q4

21 24

27 27

31

18 18Q3 Q4

1924

27

15

30

9

26

15

19

16

Q3 Q4

60 59

28 34Q3 Q4

39

4644

38

12

DEMAND SUPPLY


37 35

Q3 Q4

49 55

Q3 Q4

1212


Residential house

Residential plot

29 32 39 33

34 33

26

14

68




BHK wise Analysis



Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY


l Maximum demand and supply was recorded for properties priced atRs 40-60 lakh. While demand inched up by 2 per cent in the Jan-Mar 2015 quarter to settle close to 35 per cent, supply stood at 25 per cent

l The Rs 60 lakh-Rs 1 crore category was the second most preferredbudget range with 32 per cent buyer demand. This was a rise of 2 per cent from the last quarter. Supply fell short by more than 10 per cent to settle at 21 per cent

l An oversupply of 7 per cent was recorded for premium propertiespriced above Rs 1 crore. Supply in the category stood at 20 per centwhile demand lagged at 13 per cent.

DEMAND SUPPLY

DEMAND & SUPPLY - East Bengaluru

Nearly 75 per cent of the total supply in the market was for apartments. Demand for thesame lagged supply by a margin of nearly 20 per cent. Both residential houses as well asplots witnessed a short fall in supply as compared to the demand in the categories.

The 3BHK category gained buyer preference in the Jan-Mar 2015 quarter. Demand in thesegment jumped up from 29 per cent to settle at 40 per cent in the current quarter. Thebudget range of Rs 40-60 lakh was the most demanded with nearly 35 per cent demand.


l More than half of the demand in the zone was recorded forapartments. It settled at 55 per cent in the Jan-Mar 2015 quarterinching up by 1 per cent from the last quarter. Supply in the segmentled demand by nearly 20 per cent

l Both demand and supply dropped marginally for residential housesin the Jan-Mar 2015 quarter. While demand dropped to 25 per centfrom the 27 per cent recorded last quarter, supply stood at 9 per cent

l Plots recorded a rise in demand as well as supply during the currentquarter. While demand inched up by 1 per cent to settle at 20 per cent, supply jumped by 3 per cent to settle at 17 per cent

BHK wise Analysis

l Demand for 3BHK units grew significantly by 11 per cent in the Jan-Mar 2015 quarter. It jumped from 29 per cent in the last quarterto settle at 40 per cent. Supply almost matched demand at 38 per cent

l Demand for 2BHK units witnessed a slight drop of 4 per cent duringthe current quarter. It settled at 52 per cent while supply in thesegment stood at 50 per cent

l Demand also dropped for the 1BHK category. It slipped from 11 per cent to 7 per cent in the current quarter. Supply laggeddemand by 4 per cent at 3 per cent. The 4BHK and above categorywas oversupplied by 8 per cent


2 BHK

3 BHK

4 BHK & above

DEMAND SUPPLY


Q3 Q4

1822

32 34

30 32

13 13Q3 Q4

2322

26 25

23 21

21 20

54 55

Q3 Q419 20

74 74

Q3 Q414 17

12 9

Q3 Q4

5652

29 40

117

Q3 Q4

38

49 50

399 9


Residential house

Residential plot

27 25

118



Banashankari 4850 to 6640

Banaswadi 3990 to 4900

Bannerghatta 4500 to 5850

Bannerghatta Main Road 3910 to 5280

Begur Road 3340 to 4110

Bellandur 4390 to 5760

Bommanahalli 3290 to 4020

Brookefield 5350 to 6500

BTM Layout 4310 to 5600

Chandapura 2390 to 2980

CV Raman Nagar 4090 to 5720

Doddathoguru 2670 to 3430

Electronic City 2960 to 3890

Electronic City Phase 2 2860 to 3780

Electronics City Phase 1 3300 to 4510

Frazer Town 6280 to 8050

Harlur Road 4240 to 5880

HBR Layout 3500 to 4430

Hebbal 5180 to 6980

Hebbal Flyover 3390 to 4510

Hennur 3740 to 4950

Hennur Main Road 4160 to 5370

Hoodi 3350 to 4380

Hoodi Circle 2410 to 3360

Horamavu Agara 3580 to 4450

Hormavu 3480 to 4330

Hosa Road 2950 to 3780

Hosur Road 3660 to 4970

HSR Layout 4090 to 5310

Indira Nagar 7010 to 8970

ITPL 3750 to 4890

Jakkur 4400 to 5570

Jalahalli 3550 to 4850

JP Nagar 3980 to 5130

JP Nagar Phase 6 4700 to 6040

JP Nagar Phase 8 4250 to 5270

K R Puram 3270 to 4070

Kadugodi 3370 to 4130

Kaggadasapura 3550 to 4400

Kalyan Nagar 3590 to 4520

Kanakapura Road 4120 to 5400

Kasavanahalli 4160 to 5210

Kengeri 3170 to 3910

Koramangala 8090 to 10690

Kudlu Gate 4070 to 5410

Kundalahalli 3230 to 4350

Mahadevapura 4100 to 5270

Malleshwaram 10770 to 13670

Marathahalli 4070 to 5360

Marathahalli-Sarjapur Outer Ring Road 5380 to 6720

Mysore Road 3850 to 4750

Naganathapura 2230 to 2880

Old Airport Road 4600 to 6270

Old Madras Road 4040 to 4970

Outer Ring Road 5170 to 6620

Panathur 3480 to 4470

Rajaji Nagar 9000 to 12400

Rajarajeshwari Nagar 3470 to 4270

Ramamurthy Nagar 3370 to 4200

RT Nagar 4000 to 5170

Sahakar Nagar 4960 to 6430

Sarjapur 3070 to 4240

Sarjapur Road 4150 to 5610

Seegehalli-K R Puram 1910 to 2710

Silk Board 2640 to 3540

Singasandra 3020 to 3850

Thambuchetty Palya 3440 to 4370

Thanisandra 3960 to 5240

Thanisandra Main Road 4000 to 5140

Uttarahalli 3280 to 3950

Varthur 3240 to 4060

Vidyaranyapura 3260 to 4280

Whitefield 3960 to 5250

Yelahanka 3900 to 5090


CAPITAL VALUES – LOCALITY WISE

Average Listed Residential Apartment Prices

Locality Capital Values (Rs/Sq feet)

Locality Capital Values (Rs/Sq feet)

BENGALURU

POLICY PERSPECTIVE14

VOL4, ISSUE 4; JAN-MAR, FY 2014-15propindex.magicbricks.com

P O L I C Y P E R S P E C T I V E

Delhi government to build 27,000 flats for EWS, LIGDelhi government is planning to build 27,000 flats foreconomically weaker section (EWS) and low income group(LIG). The project is in the initial stage and is being drafted bythe Delhi Urban Shelter Improvement Board (DUISB). Theproposal aims at making 27,000 flats under Self FinancingScheme (SFS) in Bhalswa and Savda Ghevra area of Mundkain west Delhi. According to the proposal, the flats will beaccommodated in 14-storey towers with maximum area of1,000 sq ft. The proposal will be tabled before the cabinet forfurther approval.

n Economic Times

Metro connectivity may push realtyMetro connectivity in Delhi NCR is expected to give a push tothe real estate pockets. Recently where South Extension sawthe trail run of the metro in the Haryana state budget, theFaridabad metro link is predicted to function from this year.With the government’s monetary push as declared in the statebudget, the NCR residents have welcomed the announcementwith rejoice. In fact, not just the Faridabad metro but theBahadurgarh link also got monetary allocation and isscheduled to be completed by April 2016. Once completed,Faridabad would also be one of those nodes of NCR that canboast about metro connectivity. Initially, the metro is beingextended to areas such as Sarai, NHPC Chowk, MewalaMaharajpur, Bata Chowk, amongst others.

n Magicbricks Bureau

DELHI

Over 31k affordable flats in GurgaonThe Haryana government said on March 11 Gurgaon's realtyspace has provisions for 31,736 flats in the economicallyweaker section (EWS) and affordable housing categories andasked realtors for a status report on such houses in the city.

The 31,736 flats that are to be built in the EWS and affordablecategories are a part of 208 group housing colonies for whichthe government has approved building plans. Of these, a totalof 7,478 flats have already been allotted. Besides, thegovernment also plans to set aside 7,064 plots for EWS andaffordable housing, 4,556 of which have already been allotted.

n The Times of India

House tax waived from 2008-10 in GurgaonThe MCG has decided to waive property tax for the financialyears 2008-09 and 2009-10. The relief will be provided to self-occupied residences with owners who do not have anypending dues till 2008. According to MCG, property taxes ofthose who have already paid for the said period will beadjusted against future payment. The councillors havedemanded that residents of self-occupied houses be providedrelief for these two years and we have consequently decidedagainst the tax, provided they fulfil the criteria mentioned.Owners must give in writing that they have not leased theirproperty. This document need not be an affidavit but can be aself-attested letter. If somebody has already paid the tax forthis period, it will be adjusted.


GURGAON

7,400 cr infra plans for GB Nagar Chief minister Akhilesh Yadav has unveiled an "impetuspackage" for infrastructure projects worth Rs 7,400 crore inNoida and Greater Noida. While Noida has prepared a list ofprojects worth over Rs 5,000 crore, Greater Noida's list totalsprojects valued at nearly Rs 1,500 crore. The YamunaExpressway Industrial Development Authority (YEIDA)'s listincludes projects totaling Rs 900 crore. These projects includesubstations, multi-level car parking facility, proposed super-speciality child hospital and postgraduate institution besidesupgrade in traffic and road facilities, including flyovers,elevated roads, bridges and underpasses, sewage treatmentplants, police and fire stations and solar plants. Consideringthis, the real estate market of Noida and Greater Noida isexpected to pick pace soon.

n ET.com

Greater Noida set for 2 new Metro routesThe Noida Authority is set to finalize the detailed projectreport (DPR) for two new Metro routes in March. The tworoutes will bring Greater Noida and Noida Extension closer toDelhi. The plan is to extend the Metro network from NoidaSector 71, while covering various parts of Noida, GreaterNoida and Noida Extension. Another extension, will link Line8 (Janakpuri West-Botanical Garden) of DMRC's Phase-IIIthrough a proposed station at Kalindi Kunj to Sector 143.


NOIDA

Six-lane elevated highway gets a nod from GDAThe state government gave an impetus to infrastructuredevelopment in the NCR cities, particularly Ghaziabad, byallocating funds for the extension of Delhi Metro's Red linefrom Dilshad Garden and promising to develop a couple ofindustrial clusters in Greater Noida. The state govt alsoapproved the implementation of a six-lane, 10.3km elevatedhighway from UP gate to Raj Nagar Extension, which wasannounced by the GDA last year. A budget of Rs 1,838 crorewas approved by the government for the implementation ofthe 11-km-long Metro line from Dilshad Garden in Delhi toNew Bus Stand in Ghaziabad. The GDA board had inDecember approved the Rs 2,210-crore Metro expansionfollowing a revised project report presented from the DelhiMetro Rail Corporation.


Ghaziabad gets 448 crore civic push The Ghaziabad Municipal Corporation (GMC) approved abudget of Rs 1,054 crore. This comprises a proposedexpenditure of Rs 448 crore. A major chunk of the proposedexpenditure, Rs 62 crore, was earmarked for variousdevelopment works such as construction and maintenance ofinternal roads, maintenance of parks, and construction ofstormwater drains and so on. How it will impact the realestate market will have to wait and watch!


GHAZIABAD


VOL4, ISSUE 4; JAN-MAR, FY 2014-15 propindex.magicbricks.com


Now, no stamp duty on transfer of flat, land to heirsImmovable property — land, house or flat — can now betransferred to one's children or blood relatives without payingstamp duty for registration. This will come as a major reliefas families won't have to pay a 5 per cent of the ready reckonerrate of the property as stamp duty. Making the announcement,the Maharashtra government said an affidavit on a Rs 100stamp paper would suffice. He later changed it to Rs 500 as thegovernment no longer deals in Rs 100 stamp paper forproperty matters. In other decisions announced, those with500sq ft or smaller homes do not have to pay the increasedproperty tax and the government will allow twice the transferof development rights to a landowner in lieu of landsurrendered for a public amenity.n The Times of India

Unauthorized constructions to be regularizedUnauthorized constructions gets a ray of hope. Theconstructions over and above permissible limits may get reliefto some extent, albeit subject to certain conditions, asgovernment has formed a committee to suggest ways on thelines of the policy already firmed up to 'compound' suchconstructions in rural areas. Rao revealed that theestablishment of National Law University at Mumbai hadalready been notified by the government and the Vice Chancellor had been appointed.

n Magicbricks.com Bureau

MUMBAI

Now, paying your property tax is just a click awayThe Pune Municipal Corporation (PMC) has developedpmcconnect.in, a web-based application, to facilitate overseven lakh property owners in the city to pay their propertytaxes online. It is a self-service solution which will helpcitizens to manage the details of their online transactions.Once registered, citizens can view and pay their bills and alsoraise and track service requests. The system is integratedwith the PMC's property tax website and will allow citizens to add their details like email ID and phone numbers in the system.


Pay more to transfer property in city limitsWith the standing committee approving the proposal to hikethe charges, transferring a property will be costlier in thePune Municipal Corporation'slimit. Most transfers are donein the 'open occupancy' and 'transfer of property to heir'category.��Transfer charges depend on the property tax. Thefees to transfer a property which has an annual tax up to Rs500 is Rs 500. These fees will be increased to Rs 1,000. �If theproperty tax is over Rs 500, then the civic administrationcharges an additional fee of Rs 15 for every Rs 100. Propertyowners will have to pay fees for any changes or correction inthe names of owners. However the increase in charges totransfer a residential property to a family member has beencancelled.


PUNE

Ahmedabad Metro gets PM nod The Union Cabinet chaired by the Prime Minister, gave itsapproval for Ahmedabad Metro Rail Project Phase-1 coveringa length of 35.96 km at a total project cost of Rs 10,773 crore.Phase-1 will cover a length of 35.96km along two corridors viz.North-South Corridor covering 15.42 km from APMC toMotera Stadium and East-West Corridor covering 20.54 kmfrom Thaltej Gam to Vastral Gam. Project to be implementedby Metro-Link Express for Gandhinagar and Ahmedabad(MEGA) Company Ltd., which will be converted into a 50:50jointly owned company of the Government of India and Govt.of Gujarat. The proposed two alignments are expected toprovide much needed connectivity to the commuters.

n Magicbricks.com Bureau

New policy to quicken riverfront land acquisitionA new policy for those whose land falls within SabarmatiRiverfront Development (SRFD) Plan has been formulated. InSRFD plan, road is proposed on both the banks. Some privateplots on the river banks fall within the proposed road. To takeover the possession of the land from owners, SRFDCL hasoffered the benefit of built-up area and FSI of land acquiredshall be given on the remaining plot of land; and some part ofthe plot goes into the project boundary and the rest allocatedto the owner. In such cases, after deducting the residual landfor project boundary, on the remaining part the owner wouldget benefits of built-up and FSI in deducted plot.


AHMEDABAD

12 smart cities to come up at ports The government is working on a plan to build one smart cityeach at the country's 12 major ports, at an estimated totalinvestment of Rs 50,000 crore. This includes Kolkata too. Eachport will construct one smart city. We are trying to do this.Each city will be built with an expenditure of about Rs 3,000-4,000 crore. These will be green smart cities. The governmentis starting work on these in four to six months and is expectedto be completed o five years. Apart from Kolkata port, the 11other major ports in the country - Kandla, Mumbai, JNPT,Marmugao, New Managlore, Cochin, Chennai, Ennore, V OChidambarnar, Visakhapatnam and Paradip. These cities willhave wide roads, green energy, advanced townships andgreenery, schools, commercial complexes and other amenities.

n Economic Times

Leasehold land transfer to family made easierThe state government has made transfer of leaseholdproperties within blood relations in townships will be easierwith a nominal transfer fee and hassle-free processing system.As in all leased holdings, one needs to take prior permissionfrom the authority who had leased the land. In quite a fewoccasions, the development authorities used to charge highamount of transfer fees and the process was also time-consuming. To make the process easier, the transfer ofleasehold land within blood relations will be allowed against aminor processing fee of Rs 1,000.


KOLKATA




Online property tax payment without transaction feeChennaiites can now pay property tax online onwww.chennaicorporation.gov.in by using the online paymentgateway services of ICICI Bank without any transaction fee.Earlier, a tax payer had to pay a transaction fee to the bank forthe online payments made through credit and debit cards andnet banking. The online payment facility is particularlyhelpful for people who have properties in the city but work orlive abroad. The civic body has extended various modes ofpayments to the tax payers. They include collection countersat headquarters, zonal offices, divisional offices, direct bankwalk in payment and online payment facility.


Rs 400cr for smart city infra projects The state government have recently set the ball rolling forCentre's smart cities scheme. It announced `400 crore inanticipation of the Centre's approval for inclusion of 12municipal corporations in the state in the scheme. TheCentre's programme envisages creation of 100 smart cities.The Centre is yet to take a call. The government has allotted`500 crore under Chennai Mega City Development Mission and`750 crore under Integrated Urban Development Mission forthe fourth successive year. At least 1,084 water supply projectsand 74 underground sewerage schemes, besides 3,304km ofroads have been taken up under these schemes in the state.Most of them are in various stages of completion.


CHENNAI

Telangana Budget 2015: Real estate perspectiveIn the state Budget 2015-16, in the total of Rs 1, 15689 crorebudget, state’s finance minister tried to touch every aspect ofthe state work, including the reviving real estate market.

Greater Hyderabad Municipal Corporation (GHMC),Hyderabad Metro Rail (HMR) and Hyderabad MetropolitanWater Supply and Sewerage Board (HMWSSB) received Rs 526crore, Rs 416 crore and Rs 1,000 crore respectively. In additionto it, the government has also earmarked Rs 1,000 crore for2015-16 for the 2BHK housing scheme to the poor, Rs 1,600crore have been allocated for the development of flyoverswhile Rs 4,980 crore has been sanctioned for the constructionof roads and buildings in the state.


Penalty amount reduced for land regularizationTelangana government has reduced the amount of penalty forregularizing government land encroached by privateindividuals. The move came in the wake of poor response tothe land regularization scheme and several representations tothe government from potential beneficiaries seekingreduction in the penal amount. With regard to regularizationof land up to 125 square yards, it would be done withoutcollecting any penal amount. However, if a case comes up in anotified slum where more than 125 sq yards are sought to beregularized, the applicant will have to pay 10 per cent of theregistration fee for the excess land.

n Times of India

HYDERABAD

Promise of Rs 4,700 cr good news for home buyers?Of the Rs 1, 42,534 crores of consolidated funds, approximatelyRs 4,700 crore is set aside for Bengaluru city. Although much ofthe State Budget revolved around social welfare, real estateneedn’t look down. If housing were to be our sole concern,here are the highlights- The Karnataka government is set torevamp the fate of housing in the state. Not only does itconcentrate on the benefits for the have-not’s with over 20,000sites to be distributed for such beneficiaries, there is emphasison formulation of slum development policies and provision ofaffordable houses. For the ones who can manage to own ahouse, there is good news. The city can expect simplificationof housing related laws, rules and procedures. What exactlywould this compromise, only time can tell.


Soon, no residences in Bengaluru's industrial zonesAfter facing plaints from industrial bodies on big apartments,residential layouts and individual houses creating problemsfor them, the state government is all set to remove "deemedresidential status" given to owners of the plot in industrialzones. Deemed status allowed the owners of plots in the areaearmarked for industries to automatically build apartments orhousing layouts without seeking a conversion or change ofland use for "residential" purpose from the competentauthority. That luxury will now change.

n The Times of of India

BENGALURU

Few infrastructure projects announced this yearThe Budget 2015 had very little to offer the city in terms ofmajor infrastructure projects. However, the already existingprojects such as Vellalore bus stand, multilevel car parkingand ring road around Sanganoor pallam and few freshannouncements such as to make Coimbatore a WiFi city, e-waste warehouse, natural fertilizer factory, bio-methanisationplant, etc. have been made to spike public interest. A sum ofRs157crore has been allotted for road works and Rs2crore forstreetlights is another initiative announced amongst othersthat can have an impact on real estate market here.n The Times of India

COIMBATORE

String of civic works inaugurated at VadodaraState minister for transportation and water suppliesinaugurated development works worth Rs 18.78 crore in thecity. These include a water tank with other infrastructure anddistribution network at Chhani at a cost of Rs 12.5 crore. Thenew Harni water tank was also dedicated to the city. It willalso include13 anganwadis (courtyard shelters) in the southzone of the city and the renovated crematorium at Laxmipura.Other works that were inaugurated include a pay and userestroom near Bhimnath bridge as well as traffic signals atthe Mahavir Hall Crossroads and Vrundavan Crossroads.n The Times of India

VADODARA


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FOREWORD - property.magicbricks.comproperty.magicbricks.com/microsite/buy/propindex/... · “average rent per square foot” reflects rental appreciation/drop. However, in a few