PropInde2 S Magicbricks · Kolkata residential market, during Q3 2020, witnessed a 39% increase in...

PropIndex | Magicbricks KolkataJuly-Sep 2020

Residential Market Insights

Unlock phase saw demand improving in Kolkata, while supply remained muted

Kolkata residential market, during Q3 2020, witnessed a 39% increase in consumer enquiries for residentialproperties. The trend was in complete agreement with the national trend, indicating signs of revival and return ofbuyers in the market. However, the city's residential supply declined by 3% QoQ as developers refrained fromlaunching new projects and focused on reducing the existing unsold inventory.

In Q3 2020 prices remained largely stable across the markets.However, areas in proximity to airport and IT hubs,garnered significant consumer interest and witnessed minor price appreciation. These include localities of Rajarhat,Jessore Road and New Town (including Action Area 1 & 2).

Market DynamicsParameters India Kolkata

Demand+ 53.1% 39.3%Supply++ -9.1% -3.5%Price Index+++ 0.3% 0.6%

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

3,500

4,000

4,500

5,000

5,500

6,000

Average Price INR per sqft

"Increased focus onready-to-move (RM)properties, led to amarginal uptick of0.6% QoQ in RMprices, even duringthe pandemic"

5 Years YoY QoQ

0.6%2.9%8.0%

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

PS Group

Siddha Group

Merlin Group

Sureka Merlin & JB Group

Ideal Real Estate

Unitech Group

Emami Realty

Eden Group

Ambuja Neotia

TATA Housing #

#

#

#

#

#

#

#

#

#

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q32020


Under Construction Price Index

2016

2017

2018

2019

2020

2021

3,000

3,500

4,000

4,500

5,000

5,500

6,000

Averge Price INR per sqft

"Under-construction(UC) prices witnessed anegligible decline,amidst the COVID

induced slowdown andresultant construction

delays"

5 Years YoY QoQ

-0.1%1.2%12.4%

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.


Key Projects

Project Name Locality

Shapoorj Complex Action Area 3

Elita Garden Vista New Town

Utalika Mukundapur

South City Anwar Shah Rd

SP Shukhobristhi Action Area 3

Panache Salt Lake-Sec 5

Emami City Jessore Road

Eden City Maheshtala Maheshtala

Swarna Bhoomi Howrah

Rosedale Garden New Town

Vedic Village Rajarhat

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q3 2020


Average changes in prices for localities in various price segments

< 4,000 4,000-6,000 6,000-8,000 > 8,000

RM UC RM UC RM UC RM UC

0.3%

1.2%

-0.6%

0.6%

-0.6%

0.4%

-0.1%

-3.6%

"RM prices registeredminor growth, while UCproperties remainedunder pressure

especially within thepremium segment"

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


In the News

- Land acquisition process for theunderground section of Joka-Esplanademetro has commenced. Uponcompletion, this line would drivedemand across the areas of Joka,Behala, Taratala and Khidirpur.

- New Garia-Airport metro line receivedRailway Board's approval of INR 527crore for its last 3.6 km stretch fromCity Centre-2 to Airport.

- Phoolbagan metro station (East-Westcorridor) could soon be inaugurated, asit got safety approvals in June 2020.

© magicbricks.com Page 1

Demand Supply Analysis Kolkata | July-Sep 2020

1 BHK7%

2 BHK50%

3 BHK38%

Above 3 BHK6%

DEMAND

Above 3 BHK8%

3 BHK44%

2 BHK45%

1 BHK4%

SUPPLY

6,000-8,00013%

4,000-6,00039%

< 4,00039%

> 8,0009%

SUPPLY

Indian Institute Of Management Calcutta

Salt Lake-Sec 5

Action Area 3

Budge Budge

Santragachi

Maheshtala

Balarampur

Andul Road

Brahmapur

Haridevpur

Manicktala

UttarparaDum Dum

Airadaha

Paikpara

NayabadSarsuna

Howrah

Shibpur

Domjur

EntallyTangraDhapa

Pailan

LiluahSalap

Bally

New Town

E M Bypass

Behala Chowrasta

Rajarhat

© 2020 Mapbox © OpenStreetMap

Propensity of demand and supply in terms of searches andlistings by localities

Top Micromarkets by Consumer Searches

Newtown-Rajarhat 2600-6400

North Kolkata 2400-8500

South East Kolkata 2900-9300

Central Kolkata 3700-15700

South-West Kolkata 2400-4800

E M Bypass 2100-8500

Howrah 2500-4400

11

32

23

44

55

66

107

Micro Market Price Range RankQ3-20

RankQ2-20

Newtown-Rajarhat 2600-6400

North Kolkata 2400-8500

South East Kolkata 2900-9300

Central Kolkata 3700-15700

E M Bypass 2100-8500

South-West Kolkata 2400-4800

East Kolkata 4300-10400

11

32

23

44

55

66

77

Micro Market Price Range RankQ3-20

RankQ2-20

Top Micromarkets by active listings

Consumers inclined towardsaffordable and ready properties

In Q3 2020, Kolkata observed moderate signs ofrecovery as both demand and supply numbersimproved in comparsion to Q2 2020. Post lockdownupliftment in June 2020, the city witnessedgradual resumption of economic activities. Theupcoming festive season might see developerslaunching new projects and offers, so as to boostbuying activity in the city.

"2 and 3 BHKs were the mostpreferred configurations whichaccounted for nearly 90% of totalproperty searches and listings in

Kolkata in Q3 2020"

- Half of the total demand in Kolkata is for 2 BHKunits, while demand for 3BHK properties alsoconsolidated during the quarter, showing a risefrom Q2 2020.

- Demand for mid-segment properties within theprice bracket of 'INR 4,000-6,000 per sqft' grewfrom Q2 2020, now commanding 33% share in thepie.

- A demand-supply mismatch was evident in thelowest price bracket of 'less than INR 4,000 persqft', as 51% of the searches had only 39% ofKolkata's active listings.

- Newtown-Rajarhat, North Kolkata and South EastKolkata, were the top-3 micro-markets, driven byaffordability, better connectivity to workplaces,and presence of newer residential projects.

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


2 and 3 BHK configurations clearly defining the market

Affordability ruling the roost with mid-segment closely catching up

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


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.


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.


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.


Demand/SupplyDemand

6,000-8,00010%

4,000-6,00033%

< 4,00051%

> 8,0006%

DEMAND


Price Analysis Kolkata | July-Sep 2020

Q3 2020 | Price Changes in Key Localities

Locality Avg.Price

PriceChange

Nager Bazar

Narendrapur

CIT Road

Netaji Nagar

Kaikhali

Bansdroni

Bata Nagar

Behala

Belgharia Exwy

Baranagar

Baghajatin

Behala Chowrasta

Maheshtala

Dakshineswar

Haridevpur

Nayabad

Paschim Putiary

3.7%

7.2%

-2.2%

6.4%

0.0%

5.1%

7.1%

-0.6%

-1.3%

-2.4%

2.0%

4.9%

0.0%

-0.6%

-6.2%

1.4%

-3.5%

-3.8%

3.1%

2.0%

0.9%

-0.9%

3.1%

4.0%

3.0%

-3.4%

3.9%

1.2%

0.0%

-6.8%

-1.4%

-1.5%

-7.2%

1.9%

-1.7%

-1.0%

-1.4%

-1.5%

-3.6%

7.5%

-7.5%

3.8%

2.1%

2,585

2,787

2,859

2,962

2,982

2,990

3,010

3,045

3,064

3,096

3,169

3,197

3,206

3,225

3,235

3,249

3,267

3,282

3,285

3,351

3,375

3,384

3,426

3,435

3,443

3,447

3,469

3,486

3,488

3,525

3,588

3,597

3,601

3,626

3,658

3,724

3,741

3,760

3,821

3,839

3,852

3,898

3,995

Locality Avg.Price

PriceChange

Beliaghata

Lake Gardens

Jessore Road

Tangra

Action Area 2

Kasba

Tollygunge

Action Area 1

New Town

Dhakuria

Newtown

Mukundapur

Jadavpur

Patuli

Rajarhat

Bangur

Santoshpur

-4.4%

0.5%

7.5%

3.8%

-0.9%

0.1%

-3.0%

-3.8%

-0.1%

-4.6%

-2.1%

-0.1%

-1.5%

4.5%

-1.2%

-2.3%

-0.8%

7.5%

-1.2%

2.5%

-0.8%

-0.3%

0.6%

2.7%

7.5%

3.2%

2.5%

-0.4%

2.1%

7.5%

-6.8%

2.5%

-7.5%

7.5%

4,050

4,054

4,080

4,099

4,100

4,109

4,121

4,347

4,353

4,457

4,474

4,512

4,663

4,687

4,711

4,719

4,749

4,769

4,799

4,802

4,853

4,917

4,947

5,001

5,083

5,084

5,089

5,097

5,165

5,237

5,343

5,372

5,837

5,892

Locality Avg.Price

PriceChange

Jodhpur Park

EM Bypass

Park Circus

E M Bypass

Kankurgachi

Salt Lake Sec 5

Hiland Park

Salt Lake City

EM Bypass Ext

New Alipore

Haltu -0.3%

-1.9%

-7.5%

2.5%

1.3%

1.2%

1.5%

3.2%

0.3%

-0.3%

4.6%

6,259

6,372

6,412

6,575

6,823

6,851

6,900

6,957

7,094

7,129

7,656

Locality Avg. Price PriceChange

Topsia

Kalighat

Bhawanipur

Ballygunge

Prince AnwarShah Road

Gariahat

Keyatala Road

Southern Avenue

Alipore -1.6%

4.9%

2.3%

1.9%

-4.9%

3.3%

-7.5%

-6.0%

7.1%

12,919

10,853

10,681

10,383

10,011

9,923

9,636

8,996

8,196

< INR 4,000 psf INR 4,000-6,000 psf INR 6,000-8,000 psf > INR 8,000 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.

- Key growth corridor of EM Bypass, along with emerging peripherals of Narendrapur, Sonarpur, Barasat and Sodepur, registered a 3-7% increase in prices.

- Prices also grew for Action Areas 1 & 2, along with Salt Lake City area, owing to their proximity to prime business centres of Sector V and New Town.

- South and South-West localities of Bhawanipur, Lake Gardens, Behala and Tollygunge, saw a price correction of 1-7%. 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 Prateek Pareek | Assistant [email protected] [email protected] [email protected] [email protected]

Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

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:

Indian Institute Of Management Calcutta

Behala Chowrasta-1.5%

Salt Lake City2.5% Action Area 1

2.5%Action Area 3-1.2%

Maheshtala-1.4%

Nayabad1.2%

Baguiati-3.8%

Howrah-3.4%

Tangra-6.8%

Budge Budge

Shibrampur

Andul Road

Brahmapur

Manicktala

Dhali Para

Airadaha

Paikpara

Das Para

Shibpur

Domjur

Dunlop

EntallyDhapa

LiluahSalap

New Town3.2%

Rajarhat2.5%

E M Bypass3.2%

Garia-0.9%

© 2020 Mapbox © OpenStreetMap

-7.5% 7.5%


-5% -2.5% 0% 2.5% 5%

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