FOREWORD - MagicBricksproperty.magicbricks.com/...jun-2016-new/delhi-ncr... · highest gain of 17%,...

FOREWORDIndian economy remains strong despite headwinds facing the world economy and geopolitical turmoil across Asia and Europe. The economy grew by almost 8% in the JFM quarter and rising oil prices have not been able to affect it adversely. The Manufacturing Purchasing Managers’ Index (PMI) has been rising for the last three months, corporate earnings have improved and the country is expected to get normal monsoon this year, supporting the economy.

However, high NPAs in the banking sector and construction delays in infrastructure and real estate sector remain major concerns. The Real Estate(Regulation and Development) Act, 2016, is a step in the right direction but will bear fruit only in 2-3 years. Till then the Indian real estate sector remains in turbulent waters, and its health can only be gauged through inferential means like pricing and inflation in the sector.

Price, as an end-product of interaction between the underlying demand and supply elements, incorporates all the sector related imperfections like delays and surge/dearth of transactions. Its trend also serves as a guidance to fiscal decision making by the government and RBI, and investment decision making by private equity funds and retail home buyers.

Real estate in each city is heterogeneous and each locality and project can be mapped to different budget segments and geographies. Each budget segment and geography corresponds to a certain share of supply and consumer preference in the market.

Towards this end, Magicbricks presents a holistic price Index for each of the 14 major cities in India. The City Index reflects the price movement across localities, geographies and budget segments in the city. This bottom-up approach helps to identify factors affecting the demand-supply dynamics of the city.

Analysis of City Indices over a 2-year period shows that Navi Mumbai had the highest gain of 17%, while New Delhi continued to face tough market with a 20.7% decline.

Regionally, Western India performed the best with 9.1% average gain, followed by South with 5.7% increment. North India saw an average decline of 6.9%, while Kolkata had the same average price as eleven quarters ago. It is important to note that any gains made are eroded when benchmarked against inflation in economy, in the study period.

Another important sign of our times is the 9.2% premium commanded by the Ready-to-Move-in (RM) properties over the Under-Construction (UC) properties at a pan-India level. This ratio was at 5.1% eleven quarters ago and is a reflection of the falling consumer confidence in timely delivery of projects.

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

Sudhir Pai CEO, Magicbricks.com

METHODOLOGYRealistic price discovery has been the biggest problem area in the Indian real estate market. As consumers and industry struggle to arrive at a realistic benchmark pricing to assess the true value of their individual units, Magicbricks, as the largest repository of residential property listings, brings you the trusted Indian Apartment Price Index in a new and easy to use format. Mirroring the Indian Real Estate scenario, this price index presents an animated representation of the real estate market.

Magicbricks publishes the quarter-on-quarter inflation and deflation trends of the residential real estate prices in India. It collects real estate demand-supply data on a daily basis for more than 100 cities in India, of which, the fourteen top cities are selected for computing the National Property Price Index.

The National Property Price Index and its constituent indices are subjected to a series of stringent steps.

Each quarter, Magicbricks measures the individual property level price changes, which are then aggregated at the locality level. While comparing the average pricing figures for the current quarter and comparing with the previous one, quarterly price changes are calculated. These price changes are further aggregated at the city level and even further at an all-India level.

As the top receiver and aggregator of residential demand, Magicbricks’ data provides consumers with realistic benchmarks to the assess true property pricing. Where demand exceeds supply, consumers have no chance of negotiating values.

However, where demand is far lower than supply, buyers can look for more options and therefore, negotiate

pricing. If, on the other hand, you are a seller looking for benchmark pricing, you will effect the fastest sale if your asking values are close to the buyer’s paying power.

There are various co-relations of demand and the overall real estate market as well as its future potential. Not only is demand a preceding indicator to supply, it is also a fairly good indicator of actual transaction activity in the region.

We have aggregated the 14 cities covered under the report into various localities. While calculating the city level property pricing indicator, we have applied demand as weight to each locality. This weight is equal to the locality’s share of the demand being contributed to the city’s total demand. As a consequence, the locality receiving higher demand for residential units will be given a higher weightage. Following that, each city’s price movement is calculated by aggregating the price movements of individual localities, according to their individual weightages.

In terms of checks and balances towards making the data and analysis more robust and objective, we have made sure that superfluous information does not deviate the desired results. Hence, we have applied checks and balances at the locality level listing data collection and aggregation.

A statistical technique called “Inter-Quartile Range” (IQR) has been used to ensure that unintentional input deviations of house size and price figures, which may distort the actual value of the house and corrupt the analysis, are addressed. The technique aims to remove the outlier data sets, while securing the correct values.

The Interquartile Range technique works through measuring variability of each data set, while dividing the data set into quartiles. The technique measures the value of data points on the first and third quartiles of the data and calculates the difference between the two.

This range, called ‘IQR’, gives the effective extent of data set, while removing the first 25% and the last 25%. Subsequently, a test is applied to each of the values in the data set. If a particular data lies within an IQR of the first and third quartile values, then that data is considered part of the data set, otherwise not. The set of listing values of each locality are statistically cleaned.

Magicbricks, on an average, covers more than 500 localities for Tier-I cities of India. Yet for the sake of analysis, we take only those localities where the recipient demand is at least 0.05% of the city’s total demand. Only localities with at least 50 actively traded properties have been included in the analysis. Following that process, we shortlisted various localities which in some sense, impact the pricing dynamics of the city.

We then calculate the average prices of the city for the quarter, while applying demand weights to the average prices of each locality. These average prices at the city level are further aggregated to the final outcome of the ‘National Price Index’.

The difference in Under Construction and Ready-to-Move-in property has been assessed and included in the report. Rental yield and affordability too has been addressed for the top 10 localities by supply in every city. These are critical tools which well used can help with realistic price discovery.

GLOSSARY & DEFINITIONS1. City Property Index :This is a composite index which is a function of supply of properties as well as

the average capital appreciation/drop in various localities of the city in the quarter. The City Index is the weighted average of the average rate per square foot in that locality and the supply of properties from that locality. Localities with higher supply of properties will have a bigger impact on the Index.

2. Price trend basis budget segments: To better understand the city’s price trend, the localities have been divided into budget segments basis their capital value (Rs/sq ft). We have tracked the weighted average price for each budget segment for a 2+ year period from quarter ending September 2013 to quarter ending June 2016.

Subsequently, the movement of the localities in each price segment is mapped to derive respective short term and long term price change trends. The number of budget segments vary according to the city characteristics.

3. Zone wise distribution of localities: The various localities in the cities are all geographically divided into five key regions: Northern, Southern, Eastern, Western and Central. The localities are analyzed at the local zonal level to better understand the effect of the various drivers of price and demand, which are active mostly at the zonal level rather than at the city level.

4. Zone wise distribution of property budget segments: To better understand how each of the city zones contribute to the city’s supply, and how they are able to provide housing at various price points, the supply is distributed into budget segments across various geographic zones. For instance, if a zone has most of its supply in the premium budget segment, then it naturally becomes a premium destination within the city. The price changes within the various budget segments are also analyzed at the zonal level to go to the depths of the price changes across the city and to easily contribute the price changes to local factors.

5. Capital Value Tables (given in Annexures): This shows the actual range of prices within which properties are available in each locality in the quarter. Prices are shown in Rupees per square foot basis, these are the prevailing rates for properties in each locality.

6. Price trend – Top 10 localities by consumer preference: This section presents the price trend of the Top 10 localities in the city by consumer preference. These localities have the highest consumer focus and assessment of price trend in these localities assists in understanding the prevalent and future price trend in the city.

7. Price trend basis construction status: This Index looks at the movement in prices of Under Construction (UC) and Ready-to-Move-in (RM) properties across localities in the city. It is a weighted price index where weight is assigned to each locality basis its share in the consumer preference in the city.

NOTES

In line with general lack of activity in the residential real estate market, the National Property Index has remained stagnant at the same level as in the last quarter, with prices moving up by just 0.04%. This is in continuation of the general trend of inactivity observed in the market for the last many quarters. NPI is the weighted average of consumer preference share of 14 cities and their individual City Index value.

On a quarter level, all regions of India inched up marginally in terms of prices from the last quarter. Although it cannot be said with certainty that the prices have hit rock bottom and will not fall any further, any downward movement in prices going forward is going to be restricted.

After falling consecutively in the Dec 2014 to Dec 2015 period, and improving a little

last quarter, the North Indian region again witnessed a 0.7% decline prices, with Ghaziabad and Gurgaon falling more than a percentage point.

On a two year scale, Western India did better than all other regions, all cities where had more than 8.5% price increment. The worst performer was North region, where price changes hovered between -20% to +5.5%.

l In Mumbai, 37% areas saw an average price rise of 4.6%, pushing up Jan-Mar 2016 Index value by 1.4%. Balance 63% areas saw price drop by 5.2%, pushing down the Jan-Mar 2016 Index by 1.3%, leading to a net rise of 0.2% in the quarter

l In Navi Mumbai City 78% localities saw an average price increase averaging 2%, pushing up Index up by 1.5%. The balance 22% localities saw price drop of 3.8%, pushing down the Index by 0.4%, leading to a net increment of 1.1% in the quarter

l In Thane, 40% areas saw an average price increase of 4.5%, pushing up Jan-Mar 2016 Index value by 0.56%. The balance areas saw price drop of 3.8%, pushing down the Jan-Mar 2016 Index by 1.9%, leading to a net decrement of 1.35% in the quarter

[National Property Index]

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l Bengaluru had 47% areas with average price increase of 5.3%, pushing up Jan-Mar 2016 Index value by 1.45%. The balance 53% areas saw price drop, pushing down the Apr-Jun 2016 Index by 1.3%, leading to a net increment of 0.2% in the quarter

l Pune had 47% areas with average price increase of 3.2%, pushing up Jan-Mar 2016 Index value by 0.9%. The balance 53% areas saw average price drop of 5%, pushing down the Jan-Mar 2016 Index by 1%, leading to 0.1% decline in the quarter

l Noida had 40% localities with an average price increase, averaging 3.2% pushing up Jan-Mar 2016 Index value by 0.6%. The balance 60% localities saw price drop of 4.6% pushing down the Jan-Mar 2016 Index by 0.9%, leading to a net decrement of 0.35% in the period

l Greater Noida had 47% areas with an average price of 4.3% pushing up Jan-Mar 2016 Index value by 2%. The balance 53% areas saw a price drop of 2.1% pushing down the Jan-Mar 2016 Index by 0.9%, leading to a net rise of 1.2% in the quarter

l Ghaziabad had 63% localities with an average price decrease of 2.7% pushing down the Jan-Mar 2016 Index value by 2.2%. The balance 37% localities saw price increment of 2.4% pushing up the Jan-Mar 2016 Index by 0.2%, leading to a net decrement of 2% in the quarter

l New Delhi had one third the localities witnessing price increase, averaging 2.7% in the quarter. Compared to this, about two third of the localities witnessed average price decline of 2.6%. This led to decrease of 0.4% in the City Index for Apr-Jun 2016

l Gurgaon had 39% areas with an average price, averaging 3.6%, pushing up the Jan-Mar 2016 Index value up by 0.5%. The balance 61% areas saw price drop by 3.4%, pushing down the Jan-Mar 2016 Index by 1.2%, leading to a net decline of 0.6% for Apr-Jun 2016 quarter

l Chennai had 59% localities with an average price increase, averaging 3.7%, pushing up the Jan-Mar 2016 Index value up by 1.5%. The balance 41% localities saw price drop of 3.3%, pushing down the Apr-Jun 2016 Index

by 0.5%, leading to a net increment of 1.1% in the quarter

l Kolkata had 80% localities with an average price increase, of 3.8%, pushing up Jan-Mar 2016 Index value by 2.6%. The balance 20% localities saw average price decrease by 2.4%, pushing down the Jan-Mar 2016 Index by 0.1%. This led to a net increment of 2.4% in the City Index for Apr-Jun 2016

l Hyderabad had 80% localities with an average price increase, of 3.8%, pushing up the Jan-Mar 2016 Index value by 2.6%. The balance 20% localities saw average price decrease by 2.4% pushing down the Jan-Mar 2016 Index by 0.1%, leading to a net increment of 2.4% in the City Index for the Apr-Jun 2016 quarter

l Ahmedabad had 52% areas with a price increase of 3.2%, pushing up the Jan-Mar 2016 Index value by around 1%. The balance 48% areas saw average price drop of 2.3%, pushing down the Jan-Mar 2016 Index by 1.8%. This led to a net 0.9% decrement in the City Index value for Apr-Jun 2016

[Comparative regional performance]

The realty market in India can be broadly divided into three geographical zones – North, South and West. While North

India covers the five constituent cities of the National Capital Region (NCR), Western Zone consists of cities in Mumbai Metropolitan Region (MMR), Pune, and Ahmedabad.

South Zone has the three important cities of Southern India i.e. Bengaluru, Hyderabad and Chennai.

Analysis of price index for each zone shows that West as a whole has seen the highest weighted average price increment from

September 2013 to June 2016. This is followed by the Southern zone, North zone comes last as it has actually seen price decline in the September 2013 to June 2016 period.

The constituent cities within each zone have seen price movement basis inherent demand-

One of the biggest challenges in the current real estate market is lack of consumer confidence in the market

and on the market players. Consumers with purchase potential are hesitant to buy properties. There are host of factors which have which has led to this situation. For example, there have been inordinate delay in completion of projects with possession deadlines getting shifted without any clarity.

Projects have been stalled for lack of approvals with consumers coming to know about the matter only after having made the purchase. Project delay leads to consumer having to bear additional financial burden of paying rent over and above applicable home loan instalments for an extended period. And this is reflected in the price differential between the Under Construction (UC) and Ready-to-Move-in (RM) properties. Magicbricks tracked the weighted

average price for UC and RM properties on a pan-India basis covering 14 cities. It compares the 2+ year trend from September 2013 to June 2016 where September 2013 has been taken as the base. It also shows the premium/ (discount) of Ready-to-Move-in properties over Under Construction properties.

Our national level index for tracking pricing of RM and UC properties shows that at a pan India level, RM properties command an average 9% premium over UC properties. This level of premium for RM properties has held for the last three quarters.

This price differential shows that the consumers are wary of putting money into the Under Construction properties, especially when they are not sure of the delivery timeline. In the current market scenario, a consumer is likely to opt for Ready-to-Move-in properties as this takes care of the delivery risk.

supply dynamics. While the weighted average price movement in some of them is higher than the zone average, the price level in other cities has been on the lower side.

In the North zone, Greater Noida has been the best performer in terms of price rise while Delhi has seen a price decline. Noida comes second in terms of price increment after Greater Noida. The price level in Gurgaon has remained stagnant. Both Delhi and Ghaziabad have seen price decline with Delhi witnessing a decline of 21% between September 2013 and Jun 2016. Ghaziabad saw a 7% decline in the same period. In case of Greater Noida and Noida, it is important to understand that historic price levels in both the markets were low, this is one of the main reasons for them

witnessing highest price increment in the zone.

The Southern zone has seen a 6% increment in the price index in September 2013 to June 2016. With 8% increment, Hyderabad market is the best performing in the zone. However, it must be understood that Hyderabad market was stagnant for quite some time and has seen price increment over the last couple of quarters. Bengaluru and Chennai markets come second and third, respectively.

All the cities in the Western zone have seen an increment in the price index with Navi Mumbai witnessing the highest gain in the study period. Navi Mumbai became a center of fresh large scale development activity as consumer demand spilled over from Mumbai

and Thane. Many prominent and high consumer preference localities in Navi Mumbai also started at low price levels.

This also partly explains the 17% increment in price index between the September 2013 and June 2016 period. While overall Mumbai price index has seen some gain, the price trend has been subdued for the last few quarters.

The price trend in Thane has also picked up over the last few quarters. Pune and Ahmedabad fall outside the MMR. While the price index for the city has seen 10% increment in the study period, the price level has been stable or seen minimal movement over the last six quarters. The movement in price index for Ahmedabad market has been lower than the average for the Western zone.

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[Ready-to-Move-in (RM) versus Under Construction (UC)]

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[PROPINDEX - DELHI][Key Takeaways]

Government undertakes positive actions

Delhi government has a deep-seated belief in using small measures to bring a change in the city’s real estate. Infrastructure-

wise the city has accelerated its pace. The opening of the Palwal-Manesar stretch of the 53-km Kundli-Manesar-Palwal Expressway will give a fillip to the surface infrastructure landscape in NCR. In particular it will benefit the residential real estate micro markets in close proximity. A Rs 1,000 crore worth approval has come through from the Highways ministry to clean up chronic traffic congestion at IFFCO, Signature and Rajiv Chowk junctions on the Delhi-Gurgaon Expressway.

On the Centre’s notification of the Transit Oriented Development (TOD) policy for effective city management, the Delhi Development Authority has planned three TOD projects.

The problem of dust emission and waste management will now be challenged by the Centre’s ‘Construction and Demolition Waste Management Rules’. These will stipulate proper disposal and recycling of such waste; reduce pressure on fresh resources; keep a check on air pollution triggered by dust particles; etc.

Better connectivity, effective city management and pollution-free environment – the absolute essentials of a Smart City should elevate the quality of life of Delhi residents. While mentioning Smart City, the Lutyens’ zone has made it to the list of 20 cities to be turned into Smart City.

The state government has asked citizens to propose amendments for Section 81 of the Delhi Land Reforms Act, 1954, which allows

agricultural land to be used for industrial, residential, commercial, warehousing, etc purpose, after due permission to check misuse.

The South Delhi Municipal Corporation for the first time has successfully collected Rs 650 crore as property tax for the financial year 2015-16. The amount is 19% more than last year’s collection. It has also identified over 30,000 new taxpayers.

Apart from digitising applications of building permits, the waiving of penalty for the regularisation of flats in 26 cooperative group housing societies in Dwarka are some other positive developments.

It is safe to say that the government authorities’ efforts have been successful in directly or indirectly impacting Delhi’s real estate market.

Magicbricks Bureau

EDITORIAL

The City Index saw a 0.4% decrement over the previous quarter after climbing up by 1.6% in the last quarter

In the Apr-Jun 2016 quarter, two third of the localities witnessed an average price decrement of 3.8% while the remaining one third localities witnessed price increase

The quarterly price movement data shows that prices across four out of nine budget segments existing in Delhi improved from the last quarter

Fall in prices was witnessed in almost all budget segments priced above Rs 8,000 per sq ft. The price decline in these budget segments ranged between 0.7% and 2.5%

In geographical terms, East Delhi provides residential options to buyers in the lower-mid and mid segments. In terms of supply, East Delhi hardly compares with South and West Delhi and contributes only 13%. The region witnessed 0.5% decrement on an average over the last quarter

North Delhi, led by Rohini, provides the least number of quality residential home options and caters to the budget and mid segment residential buyers. Prices in the North Delhi region also fell by 0.4% in this quarter

In West Delhi area, where Dwarka actually forms the bulk of the supply,

here prices increased by 0.3% over the last Jan-Mar 2016 quarter

South Delhi forms one fourth of the city’s supply and witnessed price decrement of 0.7% in this quarter

Analysis across 68 key localities of Delhi showed that on an average, UC properties were priced equal to RM properties in the Apr-Jun 2016 period

The average difference in prices of UC and RM properties remained stagnant over the quarter. The weighted average price of RM properties was Rs 10,644 per sq ft, the same number for UC properties was Rs 10,640 per sq ft

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Properties distribution by capital value (Rs/sq ft)Jan-Mar 2016 to Apr-Jun 2016

The graph shows the distribution of actively traded properties by their capital value. The properties are distributed over a wide range dominated by entry level budget segments. Although the range of expensive properties available is in fact wider than any other city in India except Mumbai

In spite of such a wide range of available properties, more than half of the city’s supply is concentrated in the Rs 3,000 -10,000 per sq ft

The budget segment, servicing the lower middle class, with pricing in the range of Rs 3,000-4,000 per sq ft forms 14% of the city’s supply

The budget segment servicing the middle class, with pricing in the range of Rs 4,000-8,000 per sq ft forms more than one fourth of the city’s supply.

The budget segment also has a wide range of supply servicing the upper middle class, with pricing between Rs

The map shows the geographical spread of localities considered for calculating the City Price Index. The localities have been grouped to understand the zone wise price trend in the city

Delhi has had a more geographically dispersed development compared to some of the other prominent cities across India. Except the north side, the city has concentrically grown across all other directions

The city has historically grown in an asymmetrical fashion and there are pockets of residential developments between office complexes, green areas and other places of importance. Being the capital of India, Delhi houses a lot more government complexes as well as buildings of national importance. Delhi has a significant percentage of rural areas on its boundary. These areas include L Zone, N Zone, P1 and P2 Zones, and J Zone

The localities considered for PropIndex account for 77% of consumer preference and 67% of actively traded properties in Delhi

Geographical distribution of localitiesSouth Delhi dominates the development landscape


The City Index for Delhi reflects the price movement across 68 prominent localities. These localities have been chosen using the twin criterion of share in overall consumer preference in Delhi. The weight assigned to each locality is

its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index witnessed a 0.4% decrement over the previous quarter. The Jan-Mar 2016 quarter had more localities with price decrease than price increase. Around two-third of the localities witnessed price decrement, pushing the last quarter Index value down by 1.5%. The balance one-third witnessed average price increase of 2.7%

8,000-10,000 per sq ft forms another one sixth of the city’s supply.

Properties costlier than Rs 10,000 per sq ft forms a significant 40% of the city’s supply and reflects the buying poweress of the population in the city

The western side of the city is characterized by properties costing less than Rs 12,000 per sq ft on an average while North region of Delhi with areas like Pitampura and Rohini, has supply in the range of Rs 12,000-17,000 per sq ft as well as Rs 4,000- 8,000 per sq ft

South Delhi is undoubtedly the costliest region of the city, having high property prices, except a few pockets like Mehrauli and Chattarpur. All other micro-markets have prices above Rs 10,000 per sq ft and go upwards of Rs 26,000 per sq ft

The East side of the city, similar to the West, has most of the properties costing less than Rs 12,000 per sq ft on an average

[CITY INDEX]Jul-Sep 2013 to Apr-Jun 2016


Budget wise price changeJan-Mar 2016 to Apr-Jun 2016

To understand the contribution of various budget segments and localities in the Index movement, we have grouped 68 localities under the Index

The quarterly price movement data shows that prices across only four out of nine budget segments improved, from the last quarter. It was mostly witnessed in the lower priced budget segments of less than Rs 8,000 per sq ft

The fall in prices was witnessed in almost all budget segments priced above Rs 8,000 per sq ft. The price decline in these budget segments ranged between 0.7% to 2.5%

The Price movement across zones:

East East side of the city provides decent

residential options catering to lower and mid segments, constituting 13% of the city’s supply. The prices moved up by 1.2% in this region

Here, one third of the supply was concentrated in the less than Rs 3,000 per sq ft and in the Rs 10,000-12,000 per sq ft budget range

Mayur Vihar, Sarita Vihar and Laxmi Nagar are the key localities here with average pricing of Rs 11,000, Rs 10,000 and Rs 3,000 per sq ft respectively

North North Delhi provides least number of

quality residential options. Here, budget and mid segment buyers are huge

Rohini sectors form a key fraction of the supply in this region, with mostly DDA developed residences

The Rs 12,000 -17,000 per sq ft budget range here covers localities like Pitampura and Rohini Sectors 9 and 13. The Rs 4,000-8,000 per sq ft budget range covers the Rohini sectors

West In West Delhi, developments are

spanning for the last 15 years in the

Geographic and budget wise price changeJan-Mar 2016 to Apr-Jun 2016


Dwarka area. It supports a whopping half of the total supply for Delhi. The prices moved down by 0.3% in this region

With planned development of L-Zone, there is potential growth in future. Most of the supply in Dwarka sectors is in the Rs 8,000-10,000 per sq ft range

South South Delhi has well-planned

development that is making home buyers own a home here

Most of the supply in these premium localities starts at Rs 17,000 per sq ft and goes upwards of Rs 30,000 per sq ft

Centre Central Delhi contains the costliest

localities of all in the city, but the amount of supply available for sale is extremely limited as a significant portion of the housing options available here are in the government housing domain. Anand Niketan is the key locality, with an average price of Rs 35,000 per sq ft, and has witnessed a price decline of 3% in the last quarter. Prices moved down by 0.4% in this region

Price change – Top localities by consumer preferenceJan-Mar 2016 to Apr-Jun 2016

Price trend basis construction statusJul-Sep 2013 to Apr-Jun 2016


Price change basis construction status Top localities by consumer preference in Apr-Jun 2016 period

The graph shows the trend in the prices of ‘Ready-to-move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 68 localities in Delhi shows that on an average, UC properties were priced equal to RM properties in the Apr-Jun 2016 period

The average percentage difference in the under construction versus ready-to-move-in prices remained more or less stagnant over the last quarter. While

the weighted average price of Ready-to-move-in properties was Rs 10,644 per sq ft, the same number for UC properties was Rs 10,640 per sqft

The average price of both UC and RM properties decreased this quarter, with 1.3% decrease in UC properties and 0.7% decrease in RM properties

In terms of cumulative price change, RM properties posted a price decline of 13%

over the Sep 2013 to Jun 2016 period, while the price of UC properties moved down by 24% in the same period

The graph below shows price trend in the top 10 localities in Delhi by consumer preference. The prices have moved in the location between -5% to +5% range in the last quarter for these key localities of the city.


Capital values and price change key localities

Anand Niketan 15270-47570 -3.2% 13200-105600 1.74% Chhattarpur 2380-6340 4.4% 13200-21600 4.03% Chittaranjan Park 7630-24370 0.0% 16800-50400 2.10% Defence Colony 17400-45000 -3.3% 14400-98400 1.80% Dwarka Sector 3 6000-10690 -1.9% 12000-19200 1.87% Dwarka Sector 4 5760-10580 -2.7% 12000-20400 1.94% Dwarka Sector 5 6000-10150 -3.1% 13200-18000 1.89% Dwarka Sector 6 6120-10550 -2.9% 13200-18000 1.88% Dwarka Sector 7 5660-10660 -2.4% 12000-20400 1.95% Dwarka Sector 9 6300-10400 -2.0% 12000-20400 1.97% Dwarka Sector 12 6000-10660 -2.8% 12000-20400 1.97% Dwarka Sector 13 6240-9810 -2.7% 12000-20400 1.97% Dwarka Sector 18 6160-10830 -1.1% 12000-20400 1.85% Dwarka Sector 19 5890-10600 -0.4% 12000-20400 1.88% Dwarka Sector 22 6310-10830 -2.6% 14400-19200 1.96% Dwarka Sector 23 5810-10000 4.5% 12000-20400 2.01% East of Kailash 11480-29580 2.5% 12000-56400 1.65% Govindpuri Main 3040-6110 5.0% 9600-22800 3.42% Greater Kailash 1 10370-29310 -2.2% 21600-58800 2.00% Greater Kailash 2 10680-30900 -3.5% 18000-58800 1.82% Green Park 11200-33010 -3.9% 15600-60000 1.70% Gulmohar Park 15950-44900 -3.8% 20400-64800 1.60% Hauz Khas 12080-33330 -3.3% 16800-60000 1.67% Indraprastha Extension 7730-14830 -1.5% 18000-26400 1.96% Janakpuri 6400-15270 -2.7% 15600-30000 2.00% Kailash Colony 9660-27000 -3.5% 22800-52800 2.11% Kalkaji 5550-22000 -3.9% 15600-42000 2.05% Laxmi Nagar 2000-9250 5.0% 13200-32400 4.05% Mahavir Enclave Part 1 3810-6360 -0.2% 12000-19200 3.07% Malviya Nagar 5000-16660 0.5% 21600-40800 2.86% Mayur Vihar 1 4900-20000 4.9% 14400-37200 2.08% Mehrauli 2220-6830 2.7% 13200-25200 4.30% Moti Nagar 9820-13800 0.2% 14400-24000 1.60% New Ashok Nagar 2290-5350 0.3% 13200-22800 5.00% New Friends Colony 6560-33000 -5.0% 10800-56400 1.63% Om Vihar 2760-5840 -3.0% 14400-18000 3.69% Panchsheel Enclave 13620-34480 -1.5% 16800-61200 1.67% Panchsheel Park 10560-46290 -5.0% 15600-78000 1.60% Pandav Nagar 4660-9370 5.0% 13200-28800 3.21% Paschim Vihar 6000-15510 -3.8% 12000-27600 1.94% Patparganj 7460-15200 3.1% 18000-26400 1.97% Pitampura 6380-16660 0.2% 13200-32400 1.98% Rajouri Garden 7000-13880 3.5% 15600-34800 2.35% Rohini Sector 9 7500-18210 -2.9% 18000-30000 1.91% Rohini Sector 13 8140-17500 -0.8% 19200-27600 1.90% Rohini Sector 24 5130-9430 1.8% 14400-24000 2.47% Rohini Sector 25 4540-7700 1.2% 15600-16800 2.67% Safdarjung Development Area 10550-44440 3.3% 19200-86400 1.72% Safdarjung Enclave 10740-34610 2.6% 18000-62400 1.75% Saket 10310-24430 3.4% 7200-54000 1.67% Sarita Vihar 7370-12800 -2.1% 16800-25200 2.08% Shahdara 2680-9090 5.0% 14400-21600 3.11% South Extension 2 9700-29030 -4.7% 21600-60000 2.18% Uttam Nagar 2660-5220 -1.5% 13200-18000 4.08% Vasant Kunj 8570-18330 0.8% 19200-40800 2.26% Vasant Kunj Sector D 9180-15620 -3.1% 19200-38400 2.37% Vasant Vihar 8500-52670 -3.2% 16800-111600 1.83% Vasundhara Enclave 6120-12570 -2.5% 15600-27600 2.32% Vikaspuri 5660-13070 0.1% 13200-25200 1.99%

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD

GURGAON propindex.magicbricks.com VOL6, ISSUE 1; APR-JUN, FY 2016-1711

[PROPINDEX - GURGAON][Key Takeaways]

Gurgaon concentrates on infrastructure issues

In order to boost real estate transactions in the Gurgaon market, Haryana government’s decision to bring down circle rates by

15% was welcomed by both the developer community as well as the buyers. The government is also freeing certain pockets of land for infrastructure development. As per the new Master Plan-2031 for Gurgaon-Manesar, land reserved for SEZs has been annulled and will now be allotted for housing projects, malls, hotels and office complexes. It focusses on non-grant of licences on certain land patches in the Gurgaon-Manesar Urban Complex (GMUC), de-freezing of the SEZ Zone, and relaxation for development of TP (town planning) scheme in Sector 16, Gurgaon.

Better connectivity is the dire need of Gurgaon. Apart from NPR and SPR, three major roads,

connecting Delhi and Gurgaon, like Vasant Kunj to MG Road, among others are in the pipeline. Intra-city Metro in Gurgaon, Sector 56 and Sikanderpur and a high-speed Metro service for the Airport Express Link between Sector 21, Dwarka and IFFCO Chowk have also been planned.

More than 560 houses in New Palam Vihar, Tekchand Nagar and Kherki Daula on NPR, also known as Dwarka Expressway, and nearly 40 houses in Rambir Ki Dhani on SPR are coming in the way of completion of these two road projects.

To beat traffic congestion, HUDA is also trying to expedite the land acquisition process at CPR, which will connect SPR with NPR, to ensure smooth flow of traffic. A Rs 1,000 crore worth

approval has come through from the Highways Ministry to clean up chronic traffic congestion in IFFCO, Signature and Rajiv Chowk junctions on the Delhi-Gurgaon Expressway. Not just roads, HUDA is busy facilitating regular supply of water to upcoming sectors such as 68-80. However, there has been a hiccup as the body delayed allotment of alternative plots to land owners in Fazilpur-Jharsa village who were vacating their properties for the same and for the construction of a 3-km stretch on SPR.

Haryana is uploading project information online for better clarity. Some of the details which the public can easily access are names of developers to have received licenses by DTCP; approved number of towers, units in a project; number of units sold to buyers; details of payment collected from home buyers, etc.

Magicbricks Bureau

EDITORIAL

The City Index saw a 1% decline over the last quarter. The Apr-Jun 2016 quarter had more localities with price decline than price rise

In the Apr-Jun 2016 quarter 39% localities saw an average price rise of 3.6% while the balance 61% localities saw price drop by 3.4%

Price movement across most budget segments has been negative with maximum decline being in the luxury segment of Rs 14,000-18,000 per sq ft. Only Rs 4,000-5,000 budget segments in the city saw marginal price increase of under 1% in the last quarter. Average price decline in other budget segments was under 1%

In geographical terms, North Gurgaon, consisting of a few localities along the northern stretch of Dwarka Expressway, had the highest price decline of 1.9%

Price level in core Gurgaon, consisting of localities/sectors along and between Golf Course Road, Golf Course Extension Road, Sohna Road and various phases of DLF, was either stagnant or saw a decline

New developing sectors along the Dwarka Expressway and New Town Gurgaon had a mixed quarter. Price in some sectors saw an increment while it declined in others

Analysis across 73 localities shows that on an average, Ready-to-

Move-in properties were 11% more expensive than Under Constuction properties in the Apr-Jun 2016 quarter

The average difference in prices has declined by 100 basis points from 12% in the Apr-Jun 2016 quarter. While the weighted average price of Ready-to-Move-in properties was Rs 8,296 per sq ft, the same number for Under Constuction properties was Rs 7,502 per sq ft

The average price of both Ready-to-Move-in and Under Constuction properties has declined over the last quarter by 1.2% and 0.2%, respectively

VOL6, ISSUE 1; APR-JUN, FY 2016-17 propindex.magicbricks.com GURGAON12

Properties distribution by capital value (Rs/sq ft)Jan-Mar 2016 to Apr-Jun 2016

This graphs shows the distribution of actively traded properties by their capital value. This distribution shows the expensive nature of real estate in the Gurgaon market

The entry level budget segments are equivalent to the mid-level budget segments in most other cities. Supply in the city is evenly distributed across its entry and mid budget segments. Further it was noted that the dominant budget segment by supply was not the lowest budget segment of the city

The largest budget segment with 30% share is the Rs 7,000–8,000 per sq ft. The two lowest budget segments within Rs 4,000–6,000 per sq ft account for 31% share of supply in Gurgaon

Unlike other cities, the overall price movement in the city will be determined equally by its mid-budget segments as well as by the lower budget segments

The map shows the geographical spread of localities considered for calculating the City Price Index. The localities have been grouped together to understand the zone wise price trend in the city

Development in Gurgaon can be divided into two broad halves which are on either side of NH-8. Central, South and East zones consist of established residential areas, where development activity is still under progress. These projects are likely to be delivered over the next couple of years

The western zone which is east of NH-8 consists primarily of sectors with under construction projects. Few projects have been delivered. The main driver for this zone is the Dwarka Expressway/Northern Peripheral Road which will provide connectivity to Delhi

The North zone consists of a few residential areas on the Gurgaon-Delhi border and along the northern end of Dwarka Expressway

Geographical distribution of localitiesWestern zone accounts for most of the new development activity


The City Index for Gurgaon reflects the price movement across 73 prominent localities. These localities have been chosen using the twin criterion of share in overall consumer preference in Gurgaon as well as share of actively

traded properties. The weight assigned to each locality is its share of consumer preference. This makes for a comprehensive Index covering localities with high consumer preference and high number of actively traded properties

The City Index saw a 1% decline over the last quarter. The Apr-Jun 2016 quarter had more localities with price decline. At least 39% localities saw an average increase of 3.6%, pushing up the Jan-Mar 2016 Index marginally. The balance 61% localities saw prices drop by 3.4%, pushing down the Jan-Mar 2016 Index by 1.2% leading to a net decline of 1% in the City Index for Apr-Jun 2016 quarter

The geographical spread of budget segments show that the western zone with large scale development activity has properties primarily in the Rs 4,000-6,000 per sq ft price bracket with the Rs 4,000-5,000 per sq ft being the dominant sub-segment

The East zone comprises primarily of established residential areas in the mid to premium segments. Even fresh development in this zone is in the higher budget segments. This includes prominent localities like Golf Course and Golf Course Extension Road and various DLF phases. The premium Rs 12,000-18,000 per sq ft price range falls within this zone

The South zone has a mix of established and under-construction residential localities. It covers the price range from Rs 4,000-10,000 per sq ft

Together, the South and East zones presently account for 72% share of consumer preference

[CITY INDEX]Jul-Sep 2013 to Apr-Jun 2016



To understand the contribution of various budget segments and localities in the Index movement, we have grouped 73 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price change across different geographies and their constituent budget segments

Price movement across most budget segments has been negative with maximum decline being in the luxury Rs 14,000-18,000 per sq ft segment. Only the Rs 4,000-5,000 per sq ft budget segments in the city saw marginal price increase of under 1% in the last quarter. Average price decline in other budget segments was under 1%.

The price trend in a given budget segment varied depending on the zone.

Price movement across zones:

East On an average, price in the eastern

zone of the city declined by about 1%. Except for the Rs 9,000-10,000 per sq ft segment which saw 1% price increment, all other budgets saw a price decline

Highest decline of 5% was in the Rs 14,000-18,000 per sq ft segment centred at Sector 42. Other prominent and high demand localities in the zone like Golf Course Road, Golf Course Road Extension, Sushant Lok 1 and Sector 56 also saw a decline in prices from 1% to 3%

North Prices in localities in this zone either

declined or remained stable

Price level in Palam Vihar, which is the most important locality, declined by 3.6% over the previous quarter

West West zone is being marketed as ‘New

Gurgaon’. Price trend in this zone was in-line with market average for the Rs 4,000-6,000 per sq ft price bracket.

This was the only zone with some average increment in the price level.



About 70% sectors in this zone saw an increase in price. Most of the price gain was in the Rs 4,000-5,000 price bracket

Major sectors like sector 37C, 37D, 81 and 92 had price increase from 1% to 4%

South The southern zone saw marginal price

decline over the last quarter. This was because apart from the Rs 7,000-8,000 per sq ft budget, all other segment in the zone saw price decline

The price increment in the Rs 7,000-8,000 per sq ft segment was because of 3% price rise in high demand locality like Sohna Road

Lower budget segment in the Rs 4,000-6,000 per sq ft price bracket had the highest decline of 1% to 1.2%

Centre The price level in localities in this

zone was either stagnant or declined as compared to the last quarter. The average price decline in the zone was 1%

Important localities/sectors like South City-2, Malibu Town and Sector 51 fall in prices in 1%-3% range





The graph shows the trend in prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 73 localities shows that on an average, RM properties were 11% more expensive than UC properties in the Apr-Jun 2016 quarter

The average difference in prices has declined by 100 basis points from 12% in the Apr-Jun 2016 quarter. While the

weighted average price of RM properties was Rs 8,296 per sq ft. The same number for UC properties was Rs 7,502 per sq ft

The average price of both RM and UC properties has declined over the last quarter by 1.2% and 0.2%, respectively

In terms of price increase, UC properties posted a price decline of 4% over the Sep 2013 to Mar 2016 period, while the price of RM properties increased by 4% during

the same period. The price movement in case of both RM and UC properties worsened due to decline over the last quarter

As the graph shows price trend in the top 10 localities by consumer preference. While equal number of localities had price rise or drop of RM and UC properties, more localities had higher price increase for RM properties



Ardee City 4870-8950 1.9% 10800-28800 2.67% Dwarka Expressway 2390-8400 -1.6% 7200-15600 2.29% Golf Course Extension Road 6970-10150 -0.6% 9600-28800 2.26% Huda Colony 5280-9370 -2.8% 14400-27600 2.79% MG Road 9800-13700 -0.5% 18000-46800 2.65% Malibu Town 4750-11110 -3.0% 10800-28800 2.64% Manesar 2900-5820 3.8% 7200-20400 2.78% Nirvana Country 5760-10290 -1.4% 14400-26400 2.47% Nirvana Country Pocket H 5740-10400 0.3% 15600-24000 2.37% Palam Vihar 4930-10000 -3.6% 9600-25200 2.34% Sector 31 8660-12330 1.8% 9600-36000 2.11% Sector 33 5820-9550 4.4% 14400-26400 2.59% Sector 37C 3210-5650 1.3% 7200-12000 2.18% Sector 42 10010-18120 -5.0% 16800-54000 2.30% Sector 43 4800-13750 1.0% 12000-27600 2.44% Sector 45 4360-10320 -3.0% 9600-27600 2.73% Sector 46 4390-10880 0.2% 13200-25200 2.54% Sector 47 4930-12320 0.2% 13200-28800 2.39% Sector 47 Block A 6590-11930 0.9% 13200-28800 2.39% Sector 48 6760-11170 -1.6% 10800-33600 2.35% Sector 49 6770-10450 0.5% 13200-28800 2.38% Sector 51 5220-9820 -2.9% 12000-24000 2.37% Sector 52 3570-10410 -2.9% 7200-38400 2.99% Sector 53 8490-16630 1.0% 19200-34800 2.07% Sector 54 7630-17750 -3.7% 12000-45600 2.03% Sector 56 4840-8960 -2.7% 12000-24000 2.53% Sector 57 4640-9810 0.0% 10800-26400 2.49% Sector 58 8080-11690 0.9% 16800-25200 2.07% Sector 61 7500-9370 -0.7% 14400-26400 2.40% Sector 62 6530-9520 -1.2% 14400-22800 2.43% Sector 65 4280-11110 2.6% 16800-30000 3.04% Sector 66 6510-9490 -0.3% 13200-25200 2.33% Sector 67 4850-9500 -1.0% 10800-22800 2.14% Sector 68 3980-7540 -3.3% 16800-16800 2.86% Sector 69 4580-6640 0.0% 10800-24000 2.85% Sector 71 5200-7630 2.7% 10800-19200 2.32% Sector 72 5690-8400 -0.2% 15600-19200 2.58% Sector 78 3900-7210 0.0% 9600-12000 2.00% Sector 81 3700-6370 2.3% 7200-14400 2.08% Sector 81A 3530-6920 3.6% 8400-13200 2.15% Sector 82 3140-7340 -3.1% 7200-13200 2.00% Sector 82A 3250-7060 -3.8% 8400-13200 2.04% Sector 83 3900-6190 -1.1% 7200-10800 2.00% Sector 84 3150-5510 -3.1% 22800-28800 4.00% Sector 85 3550-5670 0.9% 7200-12000 2.14% Sector 86 3820-5470 1.2% 8400-9600 2.00% Sector 89 3390-6650 -4.6% 8400-14400 2.27% Sector 92 2800-7020 3.9% 7200-12000 2.08% Sohna 2030-5850 -5.0% 13200-33600 4.00% Sohna Road 2860-11950 2.9% 12000-31200 2.75% South City 1 5670-13880 -1.2% 18000-36000 2.78% South City 2 3770-11500 -4.4% 10800-30000 2.72% Suncity 5660-16890 -2.8% 12000-42000 2.30% Sushant Lok 1 5550-12250 -2.8% 12000-44400 3.06% Sushant Lok 2 4020-10400 3.0% 10800-26400 2.54% Sushant Lok 3 4700-8920 -3.6% 13200-20400 2.34% Uniworld Resorts 8070-10990 -3.2% 18000-28800 2.40% Uppal Southend 4280-10000 -2.5% 14400-22800 2.62% Vatika City 7910-10370 -0.2% 15600-27600 2.32%


NOIDA propindex.magicbricks.com VOL6, ISSUE 1; APR-JUN, FY 2016-1718

[PROPINDEX - NOIDA][Key Takeaways]

Mute market scenario remains the concern

With the largest volume of unsold inventory stacked in the region, the natural course of action did take

place. Quoted prices dipped bringing in the time correction factor. Developers seem to have given in to the price resistance to boost sales. For an end-user this may be a good time with attractive discounts and deals floating in the market like no pre-EMIs, customized payment plans, free maintenance up to a year, assured rentals and even assured possession or money back schemes.

With RERA around the corner, builders are also gearing up to ensure timely delivery rather than launch new ones. This explains the sharpest decline in the number of new launches in NCR to the tune of 50% in the first half of the year. Moreover, consumers are also shifting focus

to ready-to-move-in units or those that are nearing completion. Increase in land allotment rates will further put a check on new launches because developers are cash-strapped.

Those who are unable to complete their projects within a set time can now surrender the land to the authority which can fetch them 70% of the deposit value. This would help financing the completion after which a fresh allotment process can be initiated.

Meanwhile, the focus of buyers is largely the affordable segment. Although there is enough inventory in this budget, sales velocity is expected to remain muted for the little longer. This works well for builders with a good and clean track record as well as end-users who get to identify quality amidst the quantity. Office

space absorption is also healthy helping Noida retain the image of an investible destination.

Will buying a home in Noida become costlier in the future will be decided by a survey undertaken by the Gautam Budh Nagar district administration. It has decided to carry out the annual revision of the circle rates.

Noida authority is also going tech and aims to roll out details of properties, allotment letters, transfer of memorandums, occupancy certificates and more online. This will address consumer concerns a lot more transparently.

On the whole, researchers have noticed that at the current pace of sales, it may be difficult to exhaust the already existing inventory in the Noida market. Both buyers and sellers are waiting for respite.

Magicbricks Bureau

EDITORIAL

The City Index saw a 0.35% decrement over the previous quarter as more localities saw price decline than the last quarter

In the Apr-Jun 2016 quarter, 60% localities saw an average price decrease, averaging 4.6% while the balance 40% saw prices increase by 3.2% on an average

Price movement across budget segment was marginal, but one segments witnessed price decline. Price movement was seen in the Rs 5,000-6,000 per sq ft segment, which saw 1.3% decline in prices. The Rs 6,000-7,000 per sq ft was the only budget segment witnessing a price rise, also averaging 1.3%

Overall, the price change varied from low of -1.3% to a maximum of 1.3%

In geographical terms, the Eastern zone, which accounted for 8% of the city’s supply, had prices moving up by 0.4% this quarter

Western zone in Noida, consisting of prime residential localities, with an average price of over Rs 6,000 per sq ft, witnessed prices falling by 1%

The North zone in Noida, which accounts for more than 50% of consumer preference had stagnant prices over the quarter

Analysis across 35 localities in Noida showed that on an average, Ready to-Move-in (RM) properties were 13% more expensive than Under

Construction (UC) properties in the Apr-Jun 2016 period, which is slightly higher than normal. This shows that consumers continue to face development risk with UC projects and prefer RM properties

The average difference in the prices of UC and RM properties remained at the same level as in the Jan-Mar 2016 quarter. The weighted average price of RM properties was Rs 5,351 per sq ft and for UC properties it was Rs 4,746 per sq ft

The average price of both RM and UC properties fell from the last quarter, with UC prices falling by 0.7% and RM prices falling by 1.1%

VOL6, ISSUE 1; APR-JUN, FY 2016-17 propindex.magicbricks.com NOIDA19

Property distribution by capital value (Rs/sq ft)Jan-Mar 2016 to Apr-Jun 2016

The adjacent graph shows the distribution of actively traded properties by their capital values. When compared to other prominent constituents of the National Capital Region (NCR), Noida is the ‘affordable’ destination of the region. It is also the biggest residential real estate market of NCR

With almost 74% of the secondary market inventory in the Rs 4,000– 6,000 per sq ft range, the supply is concentrated in a narrow price segment

A typical 1200 sq ft home in Noida will cost between Rs 48 - 72 lakh. This price segment also comprises more than 80% share of consumer preference in the city

The higher budget segments have smaller share of the secondary market. These premium localities are situated adjacent to the central business district

This map shows the geographical spread of localities considered for calculating the City Price Index. The localities have been grouped together to understand the zone wise price trend in the city

New developments in Noida have taken place primarily in two directions - one along the Noida-Greater Noida Expressway towards south-east and another in the easterly direction along and off the road connecting it to Greater Noida

The North zone in the map corresponds to new development in the easterly direction of the city. While areas in the Center, South and East zones corresponds to sectors along and off the Noida Expressway, the center of the map is not the same as the Central Business District/core areas of the city

Localities in the west, towards the top of the map, are the core areas of the city which are the most prime areas of Noida

Geographical distribution of localitiesNorth zone accounts for bulk of supply in the secondary market


The City Index for Noida reflects the price movement across 35 prominent localities. These have been chosen using the twin criterion of share in the overall consumer preference as well as share of actively traded properties. The weight

assigned to each locality is its share of preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index saw a 0.35% decline over the previous quarter. The Apr-Jun 2016 quarter had less localities with price rise than price decline. Around two third localities witnessed price decrement, pushing the Jan-Mar 2016 Index value down by around 1%. The balance one third of the localities, which witnessed average price increase, pushed up the Index by around 0.6%

Given the development pattern of Noida, sectors or localities situated towards the south, along and off the Noida-Greater Noida Expressway or towards east along access road to Greater Noida West, account for most of the supply

The supply in the entry level budget of Rs 3,000-4,000 per sq ft segment is concentrated primarily in the North zone located along and off the Noida-Greater Noida link road towards the east of city center. A few sectors in the South zone, located towards the end of Noida Expressway, also have options in this budget segment

The dominant Rs 4,000-6,000 per sq ft price range is again concentrated in the North zone, being equally distributed between the Rs 4,000-5,000 per sq ft and Rs 5,000-6,000 per sq ft segment

The higher priced budget segment of Rs 6,000-1,000 per sq ft is concentrated in the West and Central zones of the city

CITY INDEXJul-Sep 2013 to Apr-Jun 2016



To understand the contribution of various budget segments and localities in the Index movement, we have grouped 35 localities under the Index into budget segments on the basis of their capital values

Price movement across most budget segments has been marginal but on the negative side. The Rs 6,000-7,000 per sq ft was the only budget segment, which witnessed a price increase this quarter, amounting to 1.3%. The maximum price decline was witnessed in the Rs 5,000-6,000 per sq ft and Rs. 7,000-11,000 per sq ft segments, by more than 1%

The price trend in a given budget segment witnessed some variations across different zones of the city


East The region majorly consists of houses in

the Rs 5,000-6,000 per sq ft category, with the Rs 4,000-5,000 per sq ft category forming the rest

This region accounted for 8% of the city’s supply and prices here moved up by 0.4% this quarter

North North zone is important as it accounts for

over 50% share of preference and supply in the secondary market

Prices across all budget segments marginally increased in the quarter, moving up by 0.1% on an average

The region is dominated by the Rs 4,000-5,000 per sq ft and the Rs. 5,000-6,000 per sq ft categories, of which, the former moved up 0.5% while the latter moved down by 1.2%, in terms of average pricing

West The price trend in the West zone was

negative for two out of three budget segments present here



In theRs 6,000- 7,000 per sq ft segment, price rise of 3.6% was witnessed in this region, while the city price average fell by 0.35%

Overall, the region accounted for 8% of the city’s residential supply and witnessed a fall of 0.9% in its prices

South The South region of Noida forms the

second largest region for residential supply in the city and witnessed a visible fall of 1.2% in the average prices

The southern region majorly consists of supply in the affordable segments of Rs 3,000-4,000 per sq ft and Rs 4,000-5,000 per sq ft, where prices fell by 3.1% and 2%, respectively

Centre

Properties in the Central region start at Rs 4,000 per sq ft and go upwards of Rs 11,000 per sq ft. This region formed 6% of the city’s supply and witnessed a fall of 0.9% in its prices on an average





The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 35 localities shows that on an average, RM properties were 13% more expensive than UC properties in the Apr-Jun 2016 quarter

The average difference in prices of UC and RM properties remained stagnant over the quarter. While the weighted

average price of RM properties was Rs 5,351 per sq ft, the same number for UC properties was Rs 4,935 per sq ft

The average price of RM properties fell by 1.1%, while that of UC properties fell by 0.7% in the last quarter

In terms of price change, UC properties posted a price decrement of 2% over the Sep 2013 to Jun 2016 period, while the price of RM properties saw a decline of

13%. The reducing prices is attracting home buyers to the city, thereby, further increasing sales

The graph below shows, price trend in the top 10 localities in Noida by consumer preference. It shows that while equal number of localities had price decline for both RM and UC properties, the price decline in the case of UC properties was generally higher



Kendriya Vihar 2 4600-6440 -1.0% 7200-21600 2.45% Noida Greater Noida Express Way 2350-7000 -1.1% 10800-20400 3.33% Sarafabad 2250-3630 2.5% 10800-18000 4.00% Sector 29 5000-10280 -3.3% 12000-27600 2.66% Sector 34 5580-8570 2.7% 16800-24000 3.02% Sector 37 3520-11530 -0.3% 10800-33600 2.87% Sector 44 2330-13580 -5.0% 14400-30000 3.47% Sector 45 3480-8530 3.6% 13200-21600 2.75% Sector 49 2900-4000 -2.9% 12000-19200 4.00% Sector 61 4820-9370 -2.3% 14400-22800 2.55% Sector 62 3710-7400 -1.8% 12000-20400 2.74% Sector 73 2460-3550 2.2% 12000-14400 4.00% Sector 74 4380-5340 0.1% 10800-15600 2.75% Sector 75 3440-5800 -0.9% 13200-14400 2.94% Sector 76 4120-5600 0.2% 12000-16800 2.92% Sector 77 4130-6490 -2.2% 12000-16800 2.66% Sector 78 3940-6800 0.4% 12000-16800 2.76% Sector 82 3660-6940 -3.9% 10800-19200 2.78% Sector 93 3550-8800 -2.5% 10800-21600 2.62% Sector 93A 2880-11580 2.7% 9600-27600 2.47% Sector 93B 5010-10620 -2.6% 15600-24000 2.52% Sector 119 3900-6050 1.1% 9600-16800 2.57% Sector 121 2000-6220 5.0% 12000-19200 3.69% Sector 128 4080-9900 2.1% 14400-19200 2.41% Sector 129 3500-5320 -2.1% 10800-14400 2.88% Sector 134 3450-5090 2.1% 10800-18000 3.20% Sector 137 3800-6340 0.5% 10800-15600 2.62% Sector 168 3600-6070 -2.9% 10800-15600 2.71%


GREATER NOIDA propindex.magicbricks.com VOL6, ISSUE 1; APR-JUN, FY 2016-1725

[PROPINDEX - GREATER NOIDA][Key Takeaways]

Better strategies lead to residents’ ease

Facilitating ease to the residents of Greater Noida seems to be the motto behind the Greater Noida Authority. Against a

backdrop where realty assets (plots/flats) could only be mortgaged to apply for home loans, the Greater Noida Industrial Development Authority (GNIDA) is in the process of granting permission for application of educational, medical or any other purpose loan including setting up an industry. This loan will be available only to those property owners who have completed all allotment formalities and executed their lease deeds. Currently, the proposal has been submitted to the state government.

In similar instances of easing process for residents, the GNIDA launched building plans, investment and allottee portals which allows the common man to access the design,

development and implementation of the online map submission; automated building plan scrutiny and approval system online. Apart from providing an accountable, responsive and transparent one-stop shop, the GNIDA is facilitating details of group housing projects on its website.

Keeping its residents safe is another aim assumed by the city authority. In the wake of several earthquakes last year, safety certifications will soon become mandatory for developers. High-rises will especially have to comply. So far, seeking a structural safety clearance before starting construction and after completion was needed to get Completion Certificates from GNIDA. Now, safety clearances will have to be taken for every floor.

The UP cabinet has approved an increase in FAR by 0.5 to pave the way for extra realty space along the Metro corridors in Greater Noida. The new FAR will be applicable within a 1,000 metre radius of the Metro corridors. Greater Noida’s existing rule to buy FAR will be applicable while buying land. This will increase residential supply and population density along the Metro corridors.

The Ghaziabad Development Authority has allocated Rs 1,500 crore for various infrastructure projects. Infrastructure is the trigger to realty development.

Easy knowledge, easy loans, safety rubrics, new residential supply, new infrastructure – all factors tied together separates GNIDA from other authorities.

Magicbricks Bureau

EDITORIAL

The City Index saw a 1.2% rise over the last quarter. The Apr-Jun 2016 quarter had almost equivalent number of localities with price gain as well as price drop

In the Apr-Jun 2016 quarter 47% localities witnessed an average price increase of 4.3% while balance 53% localities witnessed prices decline of by 2.1%

Price movement in the high demand budget segments of Rs 3,250-3,500 per sq ft and Rs 5,000 per sq ft and above segments was 0.1% and 5%, respectively

Other budget segments witnessed a price increment in the city from -1.2% to 1.9% in the quarter

In geographical terms, the western zone of Greater Noida centred on Noida Extension, which accounts for over 60% supply in the secondary market and 36% of consumer preference. The prices remained stagnant at the same level as in the last quarter

The South zone of the city centred on Pari Chowk, with the highest share (44%) of consumer preference, witnessed a 2% increment in price level. This was the highest price increment amongst all zones

The East zone of the city had negligible decline in price level.

Analysis across 18 localities in Greater Noida shows that on

an average, Ready-to-Move-in properties were 19% more expensive than Under Constuction properties in the Apr-Jun 2016 quarter.

The average difference in prices has decreased by 300 basis points as compared to the Jan-Mar 2016 quarter. While the weighted average price of Ready-to-Move-in properties was Rs 3,827 per sq ft, the same number for Under Constuction properties was Rs 3,222 per sq ft

The average price of Ready-to-Move-in properties has declined marginally while that of Under Constuction properties has increased over the last quarter by 2.1%

VOL6, ISSUE 1; APR-JUN, FY 2016-17 propindex.magicbricks.com GREATER NOIDA26


The graphs shows the distribution of actively traded properties by their capital value

The graphs show that 83% secondary market supply in the city is in a narrow budget range of Rs 3,000-3,500 per sq ft. Of these, 67% is concentrated in still narrower range of Rs 3,000-3,250 per sq ft. A very small percentage of property is available in the higher budget segments

It is this low budget range which positions Greater Noida as a relatively less expensive extension of Noida. This allows for very large scale residential development activity to attract demand in the lower budget segments

Most of the development is located in the northern stretch of Greater Noida which lies east of Noida. This consists of Noida Extension under the western zone as well as localities in the North zone. Together these zones have 40% share of consumer

The map shows the geographical spread of localities considered for calculating the City Price Index. These localities have been grouped together to understand the zone wise price trend in the city

Development activity in Greater Noida is concentrated in two zones - West and South zones. Within the West zone, Noida Extension or Greater Noida West, is the hub of development. This single locality accounts for 35% and 48% share of consumer preference and secondary market supply, respectively. Given its connectivity and accessibility from Noida, it has been positioned as Noida Extension

The South zone has 44% share of consumer preference and consists of prime residential areas like Pari Chowk. Sectors along and off the Yamuna Expressway also fall in this zone and have recorded more than 50% share of consumer preference

Geographical distribution of localitiesLop sided development concentrated in one zone


The City Index for Greater Noida reflects the price movement across 18 prominent localities. These localities have been chosen using the twin criterion of share in overall consumer preference in Greater Noida and share of actively

traded properties. The weight assigned to each locality is its share of consumer preference. This makes for a broad Index which covers localities with high consumer preference and high number of actively traded properties

The City Index saw a 1.2% rise over the last quarter. The Apr-Jun 2016 quarter had localities with price gain and drop. At least 47% localities saw an average rise of 4.3%, pushing up the Jan-Mar 2016 Index. The balance 53% localities saw a drop by 2.1%, pushing down the Jan-Mar 2016 Index by 0.9% leading to net rise of 1.2%

preference and 67% share of secondary market supply

While the North zone has supply in the below Rs 3,000 per sq ft and the Rs 3,000-3,500 per sq ft bracket, the West zone has supply predominantly in the Rs 3,250-3,500 per sq ft segment

The South zone has supply across the Rs 3,250-5,000 per sq ft and above range. The more expensive supply in the Rs 4,000–5,000 per sq ft range is available in and around city center areas like Pari Chowk, the core area of the city as well as an established prime residential locality

The less expensive supply in this segment is found along the Yamuna Expressway further south of these localities, which is attracting buyers to invest here

Price level in the East zone varies depending on their proximity to the city center in Pari Chowk . There is still development that needs to happen in order to boost investment in the locality



Budget wise price changeOct-Dec 2015 to Jan-Mar 2016

To understand the contribution of various budget segments and localities in the Index movement, we have grouped 18 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price changes across geographies and their constituent budget segments

Price movement in the high demand budget segments like Rs 3,250-3,500 per sq ft and Rs 5,000 per sq ft and above segments was 0.1% and 5%, respectively

Other budget segments witnessed a price increment from -1.2% to 1.9% among other segments


East Price trend in the east zone was mixed

as compared to other zones. The price movement was from -2.8% to 1.9% across budget segments in the zone

The lower budget segment ( below Rs 3,000 per sq ft) saw a price decline of 2.8% in the zone. While localities in Rs 3,000-3,250 per sq ft bracket witnessed price increment of 1.9%

Other localities in the range of Rs 3,750-4,000 per sq ft range had negligible price movement

North This zone has properties in the lower

budget segments

Price trend in the lowest budget segment was positive while other localities in the Rs 3,000-3,500 per sq ft range saw price decline from under 1% to 4.3%

West West zone has most of the city’s supply in

the Rs 3,250-3,500 per sq ft price bracket pushing home buyers’ interests

Price trend in this segment in the West zone defines the overall market trend. Hence, the price trend in this segment was in-line with the market average



While the market saw a negligible increment in this budget range in the Greater Noida area, the price level in the zone remained same as in the last quarter

South Price trend across majority of the budget

segments in this zone was positive as compared to other segments. Only two budget segments out of six in the zone had marginal price decline

High demand localities in the corridor like Yamuna Expressway and Pari Chowk witnessed price increase of 3.9% and 5%, respectively. Yamuna Expressway prices fall in the range of Rs 3,250-3,500 per sq ft and Pari Chowk represents the premium locality in Greater Noida. Prices in the Pari Chowk fall in the range beyond Rs 5,000 per sq ft segment

Centre

In the Central zone, the price trend is opposite of city level average. The localities witnessed price decline in the zone against price increment at the city level

Price change-Top localities by consumer preferenceJan-Mar 2016 to Apr-Jun 2016



Price change basis construction status Top localities by consumer preference in the Apr-Jun 2016 period

The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 18 localities in Greater Noida shows that on an average, RM properties were 19% expensive than the UC properties in this quarter

The average difference in prices has decreased by 300 basis points as compared to the Jan-Mar 2016 quarter

While the weighted average price of RM properties was Rs 3,827 per sq ft, the same number for UC properties was Rs 3,222 per sq ft

The average price of RM properties has declined marginally while that of UC properties increased by 2.1%

In terms of price movement, UC properties posted a price decline of 2.4% over the Sep 2013 to Jun 2016

period, while the price of RM properties remained stagnant in the same period. Price movement in case of UC properties improved due to increment over the last quarter

The graph below shows price trend in the top 10 localities of Greater Noida by preference. It shows that localities with high demand saw price gain in UC properties



Chi 4 4340-5330 -1.2% 10800-12000 2.4% Chi 5 2680-4660 3.4% 9600-10800 2.8% Noida Extension 2490-4000 -2.4% 8400-12000 3.1% Omega 1 3090-4690 -0.8% 8400-13200 2.7% Omicron 1 2190-4480 1.9% 7200-12000 2.8% Pari Chowk 2250-9740 5.0% 7200-25200 2.6% Sector 1 2500-4130 0.0% 7200-13200 2.8% Sector 4 2000-5200 -4.3% 8400-10800 3.1% Sector Mu 3370-4800 0.1% 7200-10800 2.2% Swarn Nagari 3290-4060 1.9% 7200-12000 2.6% Yamuna Expressway 2280-4400 3.9% 8400-13200 3.1% Zeta 1 2050-4340 -0.3% 8400-13200 3.3%


GHAZIABAD propindex.magicbricks.com VOL6, ISSUE 1; APR-JUN, FY 2016-1732

[PROPINDEX - GHAZIABAD][Key Takeaways]

Realty upbeat, time to address livability issues

With micro markets Krishna Vihar, NH-24 and Raj Nagar Extension being active, Ghaziabad has been in news

for the new launches and positive sentiments quite unlike Noida. Plotted developments and multi-storey units have sprung up owing to strategic infrastructure announcements. The proposal to extend the metro line, the elevated road from NH-24 in Ghaziabad to Raj Nagar Extension, a proposal for RRTS from Anand Vihar in Delhi to Meerut, all these are mean good for realty in general.

Overall, with least unsold inventory in the market, Ghaziabad bags the title of best performing micro market of the NCR. With the kind of demand witnessed for affordable properties, the Ghaziabad Municipal Corporation considered an expansion of limits.

These include Mohiddinpur Kinaoni, Morti, Bhovapur, Ator Nangla and Mohan Pur. This should help investors with a long term horizon to consider these areas.

Meanwhile, Ghaziabad proposes to register cars only if owners have parking space. The regional transport department has prepared a proposal aimed at checking parking of private vehicles along roads and in public places.

Under the proposal, during registration of private cars, owners will have to submit an affidavit and a map indicating that they have a place to park the vehicle. Good move! This would keep a check on wayside parking and encroachment.

‘Control of permanent & temporary encroachment bylaws, 2016, the policy aims to

control rampant encroachment across the city and penalise those indulging in temporary and permanent encroachments.

The Ghaziabad Municipal Corporation has also proposed to hike the annual rental value (ARV) of properties by 5% this financial year, which will also lead to an increase of house tax. Further, the corporation has also proposed rebate on house tax in four slabs, up to January 31, 2017.

While realty is looking up, Ghaziabad needs to address livability issues. Street lights in dark spots, safety issues and quality of construction are some of the aspects. This will help build the city in a way that it invites more takers and not just because of affordability.

Magicbricks Bureau

EDITORIAL

The City Index saw a 2% decrement over the previous quarter even as more localities saw price decline than increment as compared to the last quarter

In the Apr-Jun 2016 quarter, 63% localities witnessed a price decline, averaging 2.7%, while the balance 37% localities witnessed price increment by 2.4% on an average

Similar to the previous quarter, the Apr-Jun 2016 quarter has been dismal for the realty sector in the city. Of the five major budget segments, price level in four witnessed a decline. Only one segment saw marginal price rise in the city

The dominant budget segments, in the range of Rs 4,000-5,000 per sq ft witnessed a 0.8% decline. Only the Rs 6,000-7,000 per sq ft price segment had a marginal increment of 0.6%

In geographical terms, the Western zone, consisting of all premium localities bordering Delhi, witnessed a decline in prices by 2.1%. This zone also accounts for over 70% of consumer preference and 71% of supply in the secondary market

The South zone of the city, centred on Crossings Republik, witnessed a price decline of 0.7%. The north zone, with low-cost housing options centred around Raj Nagar Extension,

witnessed a significant price decline of 3.2% in the city. The Central zone consists of properties in the entry level (<Rs 3,000 per sq ft) segment.Besides this, the eastern region, was the only region witnessing price increment, average 0.7% in the City Index findings

Analysis across 46 localities of Ghaziabad city showed that on an average, Ready-to-Move-in properties were 4% more expensive than Under Construction properties during the Apr-Jun 2016 quarter

The average price of Ready-to-Move-in and Under Construction properties declined by 2.3% and 0.8% over the last quarter, respectively

VOL6, ISSUE 1; APR-JUN, FY 2016-17 propindex.magicbricks.com GHAZIABAD33


The graph shows the distribution of actively traded properties by their capital values and properties in the market are concentrated in a narrow range

With 42% properties in less than Rs 4,000 per sq ft bracket, Ghaziabad, along with Greater Noida, forms the most affordable real estate destination for consumers looking for buying residence in the National Capital Region (NCR). The higher budget segment in Rs 5,000-7,000 bracket forms a smaller 12% share of the secondary market

Geographical spread of budget segments show that most of the supply and consumer preference activity is concentrated in the West zone. It has more than 70% share of supply in the secondary market and consumer preference in Ghaziabad

Localities in the Western zone like Indirapuram, Vaishali, Kaushambi and

The map shows the geographical spread of localities considered for calculating the City Price index. The localities have been grouped to know the zone wise price trends in the city

Localities in Ghaziabad drive demand basis their contiguity and connectivity with Delhi

Localities in the West zone have best connectivity to Delhi and are the preferred addresses. The price gradient decreases as one moves from west to east

Preferred localities in the West zone include Indirapuram, Vaishali, Kaushambi and Vasundhara which are contiguous with each other and some also share a border with Delhi

Those looking for relatively less expensive options can choose from Raj Nagar Extension in North zone and Crossings Republik in South zone. While new development activity in Crossing Republik is more or less complete, Raj Nagar Extension is witnessing considerable

Geographical distribution of localitiesWestern localities preferred for connectivity with Delhi


The City Index for Ghaziabad reflects the price movement across 46 prominent localities. These localities have been chosen using the twin criterion of share in overall consumer preference in Ghaziabad as well as share of actively traded properties. The weight assigned

to each locality is its share of consumer preference in the city. This makes for a comprehensive Index which covers localities with high consumer preference as well as high number of actively traded properties in the secondary market

The City Index saw a 2% decrement over the previous quarter. The Apr-Jun 2016 quarter had more localities with price decline. At least 63% localities saw an average price decline, averaging 2.7%, pushing down the Jan-Mar 2016 Index value by 2.2%. The balance 37% localities saw average price increment of 2.4%, pushing up the last quarter Index by 0.2% leading to net decrement of 2% in City Index for Apr-Jun 2016 quarter

Vasundhara are all high consumer preference localities. They provide good connectivity and are easily accessible from Delhi. Consumers can commute to Delhi for work or business related activities, and this makes them the preferred destination

Price range in the West zone localities varies from Rs 3,000-7,000 per sq ft. Though the dominant segment (45% share) is Rs 4,000-5,000 per sq ft followed by Rs 5,000-6,000 per sq ft

Crossings Republik in South zone is an important high consumer preference locality which caters to demand in the Rs 3,000-4,000 per sq ft price segment. The whole locality consists of new projects which have been completed

Raj Nagar Extension in North zone is another upcoming destination which serves consumer preference in the Rs 3,000-4,000 per sq ft price segment




To understand the contribution of various budget segments and localities in the Index movement, we have grouped 46 localities under the Index into budget segments on the basis of their capital values. A further micro picture of price movement is presented by looking at price change across different geographies and their constituent budget segments

The last quarter has been dismal for the realty sector in the city. Of the five major budget segments, price level in four segments witnessed a decline. Only one budget segment saw marginal price rise

The dominant budget segment Rs 4,000-5,000 per sq ft witnessed a 0.8% decline.Only in the Rs 6,000-7,000 per sq ft price segment actually had marginal increment of 0.6%


East This zone consists of properties in the

entry level (below Rs 3,000 per sq ft) segment

In-line with the overall price trend, it witnessed a price increment of 1.6%. Besides the Central region, East was the only region witnessing price increment

North Raj Nagar Extension is an important high

consumer preference locality in this zone

The zone caters to consumer preference for relatively less expensive options in Ghaziabad in the Rs 3,000-4,000 per sq ft price bracket

The North zone witnessed a significant 3.2% price decline in this quarter which was more than a percentage point higher than the city average

West West zone holds most of the city’s supply

in Rs 4,000-7,000 per sq ft price bracket. Price trend in this zone decides the overall city price movement average



The city average price change in the Rs 4,000-5,000 per sq ft and Rs 6,000-7,000 per sq ft segments was decided by price change (0.8% and 0.5% decline, respectively) in these budgets in the West zone

In the Rs 3,000-4,000 per sq ft price segment, the locality average witnessed a significant 2.9% decrement as against city average decline of 2%

South Localities in the South zone form the

second most preferred destination in Ghaziabad after the western zone, with bulk of the supply in the range of below Rs 3,000 per sq ft to Rs 3,000-4,000 per sq ft price range

Crossings Republik with its news construction is the most preferred locality in this zone, at the city level

The South region of the city forms 14% of the city’s supply, it witnessed a 0.7% price decrement in the city over the Jan-Mar 2016 quarter

Price change-Top localities by consumer preferenceJan-Mar 2016 to Apr-Jun 2016



Price change basis construction statusTop localities by consumer preference in Apr-Jun 2016 period

The graph shows the trend in the prices of ‘Ready-to-Move-in’ properties (RM) and Under Construction (UC) properties. Analysis across 46 localities in Ghaziabad shows that on an average, RM properties were 4% more expensive than UC properties in the Apr-Jun 2016 period

The average difference in prices has decreased by 100 basis point this quarter, after increasing by 400 basis points in the last quarter. While the weighted average

price of ready-to-move-in properties properties was Rs 4,334 per sq ft, the same number for Under Construction properties was Rs 4,187 per sq.ft

The average price of RM and UC properties has declined by 2.3% and 0.8%, respectively over last quarter, in the city

In terms of price increase, UC properties posted a price decline of 7% over the

Sep 2013 to June 2016 period, while the price of RM properties declined by 8% in the same period. The price movement in in case of RM and UC property, has worsened due to price decline in last quarter

The graph below shows price trends in top 10 localities in Ghaziabad by consumer preference. It shows that more localities have seen price increment in case of UC properties



Ahinsa Khand 1 3390-8750 -2.7% 12000-20400 2.57% Ahinsa Khand 2 3500-6450 -3.0% 8400-20400 2.84% Bhopura 2300-3660 -3.4% 7200-12000 2.86% Crossings Republik 2600-4270 -1.6% 7200-12000 2.66% DLF Ankur Vihar 2020-3160 -2.9% 7200-8400 3.05% DLF Dilshad Extension 2910-4220 -1.3% 10800-10800 3.05% Garhi 2280-3580 -2.5% 7200-10800 2.87% Govindpuram 2000-3550 1.7% 9600-10800 3.97% Gyan Khand 1 3250-5330 -2.4% 12000-16800 3.39% Gyan Khand 2 3350-5330 -2.1% 12000-20400 3.81% Indirapuram 2830-7000 -1.2% 10800-19200 3.12% Judges Enclave 3550-6660 1.8% 8400-16800 2.49% Kaushambi 3820-8270 1.6% 10800-20400 2.51% Mohan Nagar 3960-5660 -1.8% 9600-14400 2.49% Neeti Khand 1 3210-5470 -1.2% 12000-20400 3.79% Neeti Khand 2 3380-5920 3.5% 12000-20400 3.41% NH 24 2120-3390 3.6% 7200-12000 3.43% Nyay Khand 1 3160-5000 -1.4% 12000-20400 3.95% Orange County 5960-6940 -0.1% 15600-20400 2.84% Pratap Vihar 2210-5880 -0.2% 10800-18000 3.57% Raj Nagar Extension 2210-3530 -3.2% 7200-13200 3.21% Ramprastha Greens 5330-7250 -0.4% 10800-18000 2.35% Sahibabad 2750-6120 -2.2% 9600-14400 2.66% Sain Vihar 2740-4020 -1.0% 7200-10800 2.55% Shakti Khand 2 3060-5120 -2.2% 12000-16800 3.54% Shakti Khand 3 3270-5640 2.1% 12000-20400 3.67% Shakti Khand 4 3410-6030 1.1% 12000-16800 3.03% Shalimar Garden 2580-4720 -3.4% 8400-13200 2.93% Shalimar Garden Extension 1 2730-4370 -3.1% 9600-14400 3.52% Shalimar Garden Extension 2 2960-4800 -3.1% 7200-15600 2.99% Vaibhav Khand 3900-6780 0.1% 9600-21600 2.81% Vaishali 3010-7090 -4.3% 12000-20400 3.40% Vaishali Sector 1 3410-7000 -1.4% 13200-20400 3.32% Vaishali Sector 2 3360-5330 -1.3% 10800-22800 3.90% Vaishali Sector 3 2770-6890 -2.3% 12000-19200 3.24% Vaishali Sector 4 3150-7650 0.3% 13200-21600 3.26% Vaishali Sector 5 3400-6270 1.5% 14400-19200 3.55% Vaishali Sector 6 3330-5270 2.5% 12000-19200 3.81% Vasundhara 2630-5910 -3.6% 10800-15600 3.03% Vasundhara Sector 1 2680-5200 2.6% 8400-18000 3.23% Vasundhara Sector 12 3660-6270 1.8% 9600-10800 2.11% Vasundhara Sector 3 2500-5660 0.9% 9600-18000 3.29% Vasundhara Sector 5 2600-6660 0.1% 10800-15600 2.77%


CONTACT USl Post your feedback to -

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

PROPINDEX TEAMl Content & Research:

E Jayashree Kurup, Subodh Kumar, Rohit Vats, Devendra Lohmor, Bhawna Mongia, Namrata Hazarika Roy, Namrata Ekka, Renu Arya, Sneha Sharon Mammen, Puneet Kukreja & Bikash Kumar

l Layout Design: Harsha Khattar

D I S C L A I M E R

Every effort has been made to make this Index as complete and as accurate as possible. MagicBricks accepts no responsibility for inaccuracies in the information/data contained in this book. It shall have neither liability nor responsibility to any person or entity with respect to any loss or damage

caused, or alleged to have been caused, directly or indirectly, by the information contained in this book. The information/data in this book is subject to change from time to time due to market condition.

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