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PropIndex | Magicbricks NOIDA- Gr.NOIDAJuly-Sep 2020
Residential Market Insights
Twin cities witnessed fast recovery in the number of searches
The recovery in the residential market of NOIDA and Greater NOIDA was quite visible, with searches havingsurpassed pre-COVID levels during Q3 2020. The rebound in searches was primarily due to lifting of the lockdown andopening of economic activities. While the online searches for properties witnessed a dip of 18% in the Apr-Junquarter, we observed that in the Jul-Sep quarter, searches bounced back to the pre-COVID level.
Additionally, opening of the Delhi border and various confidence-boosting initiatives by UP-RERA, including settingprovisions to seek immediate refund after a builder misses a project deadline and plans to auction the properties(unsold inventory and vacant land) of builders who have defaulted, helped in boosting buyers' confidence.
Market DynamicsParameters India NOIDA-Gr. NOIDA
Demand+ 53.1% 42.1%Supply++ -9.1% 0.5% Price Index+++ 0.3% 1.8%
Notes:Above parameters represent QoQ change in Q3 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price
Source: Magicbricks Research
Ready to Move Price Index
2016
2017
2018
2019
2020
2021
3,000
4,000
5,000
6,000
Average Price INR per sqft NOIDA
Gr. NOIDA
"Preference forReady-to-moveproperties led to aQoQ price increase of1.3% and 2.3% inNOIDA & Gr. NOIDA
markets,respectively."
City 5 Year YoY QoQ
NOIDA
Gr. NOIDA 2.3%0.6%-5.3%
1.3%1.6%-6.4%
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research
Key Developers based on activelistings
ATS Infrastructure
Gaurs Group
Supertech
Jaypee Greens
Mahagun Group
ACE Group
Gulshan Homz
ABA Corp.
Purvanchal Projects
Prateek Group
Nirala India
Ajnara India Ltd. #
#
#
#
#
#
#
#
#
#
#
#
Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q32020
Source: Magicbricks Research
Under Construction Price Index
2016
2017
2018
2019
2020
2021
3,000
4,000
5,000
6,000
Averge Price INR per sqft
Gr. NOIDA
NOIDA
"Theunder-constructionproperties showed0.1% and 1.2% QoQdecline in NOIDA & Gr.NOIDA, respectively."
City 5 Year YoY QoQ
NOIDA
Gr. NOIDA -1.2%-5.2%-4.3%
-0.1%1.4%0.0%
Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city.
Source: Magicbricks Research
Key Projects
Project Name Locality
Fusion Homes NOIDA Ext.
Paras Tierea Sector 137
Gaur Saundaryam Gr. NOIDA West
Supertech Capetown Sector 74
Gaur Atulyam Omicron 1
Gaur City Gr. NOIDA West
Cherry County NOIDA Ext.
Mahagun Moderne Sector 78
ATS Dolce Zeta 1
Mahagun Mywoods NOIDA Ext.
ATS Pristine Sector 150
V Heights Sector 44
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q3 2020
Source: Magicbricks Research
Average changes in prices for localities in various price segments
< 4,000 4,000-5,000 5,000-6,000 > 6,000
RM UC
RM UC
RM UC
RM UC
-4.1%
2.5%
-1.1%
1.2% 1.3% 1.3%0.7%
1.2%"Ready-to-move
properties witnessedincrease across price
segments due to decliningconfidence in
under-constructionproperties."
Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on Sep 2020
Source: Magicbricks Research
In the News
- As per the 'Zero Period' policy, theNOIDA Authorities has extended thedeadline for completing pendingprojects till December 2021 fordevelopers who were due to providehomes by June 2021.
- Noida Metro Rail Corporation (NMRC)announced the second arm of Aqua Linewhich will connect Sector 142 MetroStation with Botanical Garden MetroStation of the Delhi Metro.
- The Supreme Court has directedSBICap to issue INR 625 crore from theSWAMIH Investment Fund for sixprojects of the Amrapali Group.
© magicbricks.com Page 1
Demand Supply Analysis NOIDA - Gr. NOIDA | July-Sep 2020
1 BHK5%
2 BHK33%
3 BHK52%
Above 3 BHK11%
DEMAND
Above 3 BHK11%
3 BHK50%
2 BHK36%
1 BHK3%
SUPPLY
5,000-6,00019%
4,000-5,00023%
> 6,00016%
< 4,00043%
SUPPLY
Techzone 4
Sector 134
Sector 150
Ecotech 3
Sector 16
Sector 21
Sector 94
Gamma 2
Surajpur
Sector 1
Sector 4
Patwari
C Block
Eta 2
C-16
PI 2
Sector 137
Sector 78
© 2020 Mapbox © OpenStreetMap
Propensity of demand and supply in terms of searches andlistings by localities
Top Micromarkets by Consumer Searches
NOIDA 7X 4000-7000
Greater NOIDA West 2900-4100
NOIDA Expressway (S) 2700-5800
NOIDA Expressway (N) 3900-13400
Vikas Marg 4000-8400
Omega-Chi-Phi 3600-5200
Central NOIDA 4900-7600
11
22
33
44
55
76
67
Micro Market Price Range RankQ3-20
RankQ2-20
NOIDA 7X 4000-7000
NOIDA Expressway (S) 2700-5800
NOIDA Expressway (N)3900-13400
Vikas Marg 4000-8400
Jaypee Wish Town 3400-7900
Greater NOIDA West 2900-4100
Dadri Main Road 2700-7900
11
22
33
44
55
76
67
Micro Market Price Range RankQ3-20
RankQ2-20
Top Micromarkets by active listings
Surge in demand for 3BHKconfiguration
- We observed an growing inclination towards3BHK homes in both NOIDA and Gr. NOIDA withthe searches in this category having witnessed anincrease in Q3-2020. it could be due to the shift inbuyers' sentiments towards family orientedhomes.- The demand for 3BHK was more than half of thetotal demand (consumer preference) and supply(active listing) across various configurations.
"The demand-supply mismatch almostvanished in NOIDA/Greater NOIDAregion in Q3 2020, for both unit
configurations and price ranges withbuyer demand and property listingsalmost consistent across the
parameters."
- While 43% buyers preferred to buy in areas withprice range below INR 4,000 per sqft, a shift indemand to higher price buckets was also observed.In Q3 2020, 7% of buyers moved from sub-4000price bucket to higher buckets.
- NOIDA 7X and Greater NOIDA West remained themost-sought micro-markets. Moreover,announcement of major infrastructuredevelopment projects like the extension of AquaLine boosted the demand for NOIDA Extention.
- Demand was mostly concentrated in thetraditional high supply areas, including NOIDA 7Xand NOIDA Expressway South areas in NOIDA, andGreater NOIDA West and societies around PariChowk in Greater NOIDA.
Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by BHK configuration
Source: Magicbricks Research
3BHK highest in demand followed by 2 BHK configurations
Highest demand in >INR 4000 per sqft price range
Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by price buckets
Source: Magicbricks Research
Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q3 20202. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Demand/SupplySupply
5,000-6,00018%
4,000-5,00023%
> 6,00016%
< 4,00043%
DEMAND
© magicbricks.com Page 2
Price Analysis NOIDA - Gr. NOIDA | July-Sep 2020
Q3 2020 | Price Changes in Key Localities
Locality Avg.Price
PriceChange
Greater Noida West
Noida Extension
Omicron 3
PI 1 & 2
Sector 1
Sector 49
Sector 134
Sector 151
Surajpur
Tech Zone 0.0%
6.0%
5.5%
4.7%
0.0%
-2.5%
7.5%
5.1%
-1.0%
4.5%
3,715
3,398
3,179
3,955
3,462
3,534
3,312
3,520
3,617
3,878
Locality Avg. Price PriceChange
Pari Chowk
Sector 70
Sector 118
Sector 119
Sector 137
Sector 143
Sector 143 B
Sector 168 6.2%
-2.4%
-0.2%
-2.3%
1.5%
3.2%
4.9%
-1.2%
4,893
4,802
4,861
4,830
4,878
4,704
4,849
4,367
Locality Avg. Price PriceChange
Sector 62
Sector 74
Sector 75
Sector 76
Sector 77
Sector 78
Sector 79
Sector 93
Sector 93A
Sector 100
Sector 120
Sector 150 0.0%
1.6%
3.6%
6.7%
-0.5%
-1.2%
4.2%
1.2%
-1.2%
-3.0%
1.8%
3.5%
5,790
5,085
5,609
5,619
5,690
5,579
5,741
5,457
5,207
5,212
5,071
5,379
Locality Avg. Price PriceChange
Sector 29
Sector 37
Sector 45
Sector 50
Sector 61
Sector 93B
Sector 94
Sector 104
Sector 107
Sector 108
Sector 121
Sector 128 5.2%
0.7%
5.2%
-5.5%
0.3%
-1.6%
7.5%
1.2%
-4.3%
-0.5%
-6.8%
7.5%
6,345
6,920
6,763
6,556
8,674
11,290
7,422
6,259
6,222
6,654
6,262
6,750
< INR 4000 psf INR 4,000-5,000 psf INR 5,000-6,000 psf > INR 6,000 psf
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q3 20202. Color of the bubble represents price change in Q3 2020, with green color representing price increase and red color price decrease.3. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
- Price decline was mostly concentrated along the Aqua Line of the NOIDA Metro, in prominent localities including Sectors 50, 75, 79, 137 and 143 in the northernpart, and Sector 150 in the southern part of NOIDA. In Greater NOIDA, the price decline was concentrated in societies around Pari Chowk.
- Price increments were observed in localities along the NOIDA-Greater NOIDA Expressway. However, the volumes of consumer searches remained high inCentral NOIDA and NOIDA Extension.
Source: Magicbricks Research
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q3 2020. This is an interactive table available on Magicbricks.com under Propindex section.2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder floor segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represents the price change in Q3 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Suneet Saxena | Asst. [email protected] [email protected] [email protected] [email protected]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.
For more information and research related queries, please contact:
Sector 1210.7%
Sector 1344.7%
Sector 1500.0%
Chamrawali Bodaki
Sector 94-1.6%
Knowledge Park 5
Surajpur6.0%
Sector 1-2.5%
Techzone 4
Sector 144
Ecotech 3
Sector 10Sector 16
Sector-Pi
Sector 4C Block
Eta 2
Phi 4
Chi 4
C-16
Sector 137-2.3%
Sector 784.2%
© 2020 Mapbox © OpenStreetMap
-7.5% 7.5%
© magicbricks.com Page 3
-5% -2.5% 0% 2.5% 5%