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Transcript of PropIndex | Magicbricksproperty.magicbricks.com/microsite/buy/propindex/pdf/apr...PropIndex |...
PropIndex | Magicbricks
Residential Market Insights
Emerging employment avenues and developing public transport infrastructure fueling housingdemand
Thane has been a favoured destination for affordable and mid-segment home buyers, owing to proximity andexcellent connectivity to major employment hubs of Mumbai and Navi Mumbai. Decrease in property buying budgetand inclination to 'Work From Home' due to the COVID-19 crisis is likely to push demand from Mumbai to affordablesatellite cities like Thane. State Government has announced a reduction in stamp duty from 6% to 5% on allproperties till March 2022, to boost housing sales in Thane which is severely impacted by the ongoing crisis.
The developers including Hiranandani Group, Raunak Group, and Puranik Builders have dolled out various offers anddiscounts to support sales amid lockdown in the Q2 2020.
5 YearChange YoY QoQ
-0.6%1.9%6.4%
5 YearChange YoY QoQ
-1.1%1.0%26.0%
"Rising unsoldinventory has resultedin a marginal fall of 1%
QoQ for theunder-construction
segment"
ThaneApr-Jun 2020
Parameters India Thane
Demand+ -27% -33%Supply++ -43% -40%Price Index+++ -1.5% -0.6%
"Prices ofready-to-move (RM)segment stagnatedamidst the lockdown"
Notes:Above parameters represent QoQ change in Q2 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
Lodha Group
Kalpataru
Runwal Developers
Hiranandani Group
Rustomjee
Raunak Group
Puranik Builders
Dosti Realty
Piramal Realty
Damji Shamji Shah Group
Lodha Amara Kolshet Road
Lodha Splendora Ghodbunder Road
Haware Citi Kasarvadavali
Giriraj Apartment Dombivli
Lakeshore Greens Palava
Sai Ram Residency Kalyan West
Poddar Evergreens Badlapur East
Lodha Palava Dombivli East
Uma Ashish Badlapur East
Piramal Vaikunth Balkum village
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- Growing footprint of IT and industrialsectors in Thane and development ofmetro is likely to boost the residentialmarket of the city.
- Series of upcoming big-ticket infraprojects including the Virar-AlibaugMultimodal corridor and enhancementsto Vasai-Panvel rail corridor, would pushresidential demand in the long term. - Upcoming Mumbai Metro Line 4(Kasarvadavali-Wadala) expected toincrease demand in key areas such asTeen Hath Naka, Ghodbunder Road,Manpada, Majiwada, and Kapurbawdi.
"Amidst flat demand,prices remained almostunaffected, witnessinga negligibe ~ 2% changeacross all RM and UC
categories"
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
5,000
6,000
7,000
8,000
9,000
10,000
2014
2015
2016
2017
2018
2019
2020
5,000
6,000
7,000
8,000
9,000
10,000
Price Bracket (INR per sqft)
< 5,000 5,000-9,000 9,000-13,000 > 13,000
RM UC RM UC RM UC RM UC
1.5%
0.4%
-2.0%-1.9%
-2.4%
-1.0%
-1.7%
2.0%
Key Projects
Key Developers based on activelistings
Project Name Locality
Average Price INR per sqft
Average Price INR per sqft
The above table represents the top developers by share ofactive listings on Magicbricks website in Q2 2020
Source: Magicbricks Research
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q2 2020
Source: Magicbricks Research
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research
Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city.
Source: Magicbricks Research
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 June 2020
Source: Magicbricks Research
Page 1© magicbricks.com
1 BHK52%
2 BHK37%
3 BHK10%
Above 3 BHK2%
DEMAND
Demand Supply Analysis Thane | Apr-Jun 2020
Demand-supply mismatch among all price buckets
1 BHK rules the Thane marketEmployment driven affordable-segment sustaining Thane market
- There is a clear inclination towards smallconfiguration in Thane with 52% of the propertysearches attributed to 1 BHK apartments.However, the market is heading to ademand-supply mismatch among the 1 and 2BHKs as buyer preference shifts from 2BHKs to1BHKs.
"Smaller configuration homesdominate the Thane market as 1and 2 BHKs make up around 90%of the total property searches aswell as listings in Q2 2020"
- The affordable market of Thane, correspondingto 'less than INR 5,000 per sqft' was the mostpreferred in Thane, getting 41% of the consumersearches. This market was significantlyunder-supplied, as only 27% of the supplycatered to this segment.
- Most of the city's affordable supply isconcentrated in the industrial localities on theoutskirts of Thane city like Diva, Bhiwandi,Ambernath, Badlapur, Vasind, Titwala,Asangaon, and Ulhasnagar, which are favouredby the population employed in the industrieshere. And with expanding industrial andmanufacturing operations, these areas areexpected to garner more residential demand infuture as well.
- An oversupply of homes in some major projectsin the city has resulted in a narrowing ofdifference between the new and resale prices.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searches andlistings by localities
1 BHK43%
2 BHK44%
3 BHK12%
Above 3 BHK1%
SUPPLY
9,000-13,00028%
5,000-9,00031%
> 13,00015% < 5,000
27%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by active listings
9,000-13,00022%
5,000-9,00025%
> 13,00011%
< 5,00041%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by BHK configuration
Source: Magicbricks Research
.Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by price buckets
Source: Magicbricks Research
Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q2 20202. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Badlapur East
Ambernath
Shilphata
Bhiwandi
Vangani
Titwala
Karjat
Kalwa
Neral
Diva
© OpenStreetMap contributors
Demand/SupplyDemand
Dombivali 4250 - 8750
Western Thane 6800 - 20650
Ghodbunder Road 6950 - 12550
Ambernath-Badlapur 3150 - 5200
Kalyan 2950 - 8000
Majiwada 8450 - 14300
Kolshet 8800 - 16650
11
22
33
54
45
66
77
Dombivali 4250 - 8750
Ghodbunder Road 6950 - 12550
Western Thane 6800 - 20650
Majiwada 8450 - 14300
Kalyan 2950 - 8000
Kolshet 8800 - 16650
Ambernath-Badlap.. 3150 - 5200
11
22
33
54
45
66
77
Micro-Market Price Range Rank Rank Q2-20 Q1-20
Micro-Market Price Range Rank Rank Q2-20 Q1-20
Page 2© magicbricks.com
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 20202. Color of the bubble represents price change in Q2 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.
LocalityAvg.Price
PriceChange
Boisar
Vasind
Neral
Asangaon
Karjat
Mumbra
Ulhas Nagar
Badlapur West
Badlapur
Ambernath West
Badlapur East
Ambernath
Kasheli
Ambernath East
7.5%
-7.5%
4.5%
0.4%
-2.9%
-2.6%
4.5%
-4.0%
3.2%
5.1%
5.0%
-7.5%
7.5%
5.0%
-6.1%
0.7%
-5.5%
4,871
4,489
4,463
4,344
4,192
4,160
4,050
4,044
3,987
3,957
3,927
3,751
3,739
3,423
3,282
3,276
3,065
< INR 5,000 psf INR 5,000-9,000 psf INR 9,000-13,000 psf > INR 13,000 psf
Price Analysis Thane | Apr-Jun 2020
- Price growth was mostly witnessed in developing areas such as Badlapur, Karjat, Ulhasnagar, Asangaon, and Titwala.
- Prime localities such as Ghodbunder Road, Hiranandani Estate, Kapurbawdi, Owale, and Kavesar faced most of the price decline though established poshlocalities witnessed some price increment.
Source: Magicbricks Research
LocalityAvg.Price
PriceChange
Kalwa
Bhayanderpada
Brahmand
Parsik Nagar
Anand Nagar
Kavesar
Ghodbunder Road
Waghbil
Dhokali
Balkum village
Hiranandani Estate
Kolshet Road
Majiwada
3.4%
4.9%
-4.7%
1.8%
0.1%
-2.7%
1.8%
3.2%
0.5%
-7.5%
-2.9%
-7.5%
3.3%
-4.2%
-2.6%
1.8%
1.8%
-2.9%
-4.8%
-3.0%
12,947
12,691
12,399
12,159
12,137
12,088
12,029
11,857
11,574
11,378
10,885
10,592
10,362
10,096
9,983
9,715
9,710
9,675
9,102
9,076
Locality Avg. PricePrice
Change
Vasant Vihar
Pokharan RoadNo. 2
Panch Pakhadi
Teen Hath Naka
Naupada
HiranandaniMeadows
0.3%
3.2%
7.3%
-5.4%
2.1%
4.5%
17,556
16,693
16,664
13,953
13,835
13,399
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q2 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 represent the price change in Q2 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research
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.
Q2 2020 Price changes for the city's major localities
LocalityAvg.Price
PriceChange
Taloja
Kalyan East
Palava
Shilphata
Dombivli East
Kalyan
Dombivli
Kalyan West
Dombivli West
Thakurli
Kasarvadavali
Owale -5.5%
0.1%
-2.3%
-2.2%
0.4%
-0.1%
-3.3%
-2.4%
-3.1%
0.9%
-3.3%
-1.9%
8,914
8,854
7,103
6,811
6,651
6,374
6,227
6,089
6,009
5,927
5,569
5,318
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research [email protected] [email protected] [email protected] [email protected]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
For more information and research related queries, please contact:
Asangaon5.0%
Shilphata-3.1%
Bhiwandi-7.5%
Titwala4.5%
Vasind0.7%
Palava0.9%
Taloja-1.9%
Neral-6.1%
© OpenStreetMap contributors
-7.5% 7.5%
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com
