propindex | magicbricks · -0.4%-0.1% 0.0% 2.0%-0.1% -0.1% 0.2% key projects based on consumer...
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PropIndex | Magicbricks
Residential Market Insights
Growing working population fueling demand for affordable housing in peripheral areas
Pune residential market demand witnessed a healthy 5.2% growth in Q1 2020, same as the national average, but agreat increment over the 0.2% growth in Q4 2019. Contrary to the increase in demand, the city's residential marketsupply witnessed a decline of 2.4%, which can be ascribed to a decline in the number of unsold units, and a stressedluxury housing segment.
Demand in peripheral areas along NH 48 Bypass sub-markets witnessed a boost as a result of the consumer focus onmid and affordable housing segments. Most developers increased their focus on the affordable segment by shiftingdevelopment to the peripheral localities and reducing the size of the apartments in their new projects.
5 YearChange YoY QoQ
-0.2%1.0%5.8%
5 YearChange YoY QoQ
0.5%-0.6%2.6%
"Pressure from unsoldinventory has resultedin stagnation in theUnder Construction(UC) segment, withprices marginallyfalling 0.6% YoY."
PuneJan-Mar 2020
Parameters India Pune
Demand+ +5.3% +5.2%Supply++ -0.8% -1.4% Price Index+++ +0.1% -0.2%
"Prices ofready-to-move
residential propertiesare witnessing
stagnation from thelast few quarters"
Notes:Above parameters represent QoQ change in Q1 2020 atIndia and city level + volume of property searches ++ volume of active listings +++ change in the weighted average price
Source: Magicbricks Research
Kolte-Patil Developers
Marvel Realtors
Kumar Properties
Godrej Properties
Rohan Builders & Developers
VTP Realty
Nyati Group
Goyal Ganga Group
Pride Purple Properties
Majestique Landmarks
Nanded City Sinhagad Road
Xrbia Hinjewadi Hinjewadi
Rohan Mithila Viman Nagar
Amanora Neo TowersAmanora ParkTown
Forest County Kharadi
Hari Ganga Vishrantwadi
Raheja Vistas NIBM Road
Antheia Pimpri
Future Towers Amanora ParkTown
Marvel Zephyr Kharadi
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- State government has announcedstamp duty cut from existing 6% to 5%for properties costing less thanINR 20 lacs. Step to boost the growthin peripheral areas of the city.
- Announcement of two new MetroLines and extension of existing metrolines to Wagholi and Katraj areas, tofurther boost real estate outlook in theperipheral regions.
- 170 Km long, planned Pune Ring Roadwill also be a game-changer for thenorthern and eastern outskirts of thecity in the long term
"Prices remained stableacross all RM and UCcategories, except forthe 'INR 7,500-10,000per sqft' UC properties,which grew 2% QoQ
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
4,000
5,000
6,000
7,000
8,000
2014
2015
2016
2017
2018
2019
2020
4,000
5,000
6,000
7,000
8,000
Price Bracket (INR per sqft)
< 5,000 5,000-7,500 7,500-10,000 > 10,000
RM UC RM UC RM UC RM UC
0.3%
-0.4%
0.0%-0.1%
2.0%
-0.1% -0.1%
0.2%
Key Projects based on consumersearches
Key Developers based on activelistings
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 Q1 2020
Source: Magicbricks Research
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q1 2020
Source: Magicbricks Research
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on March 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 March 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 March 2020
Source: Magicbricks Research
Page 1© magicbricks.com
1 BHK28%
2 BHK48%
3 BHK21%
Above 3 BHK4%
DEMAND
Demand Supply Analysis Pune | Jan-Mar 2020
Demand-supply match amongst all price buckets
2BHK highest in demand followed by 1 and 3 BHK configurationsIT/ITeS driven mid-segmentsustaining Pune market
Smaller configurations (1 and 2 BHKs) continueto witness better traction compared to largeconfiguration apartments, making up 76% of theproperty searches in Pune. The supply alsomanaged to keep up for these configurations,making up 71% of the pie of the city.
- However, demand share for 1 BHK was 50%more than the supply share in Q1 2020, reflectinga noticable undersupply of this configuration.
"2 BHK with prices betweenINR 5,000 and 7,500 per sqft, isthe dominant property searchcriterion for Pune buyers"
- For premium segment houses in the centralparts of the city, which are majorly high ticketsized, the search volumes remained sluggish.Consequently, the search for 4 BHKs and aboveconfiguration, remained at just 4% of demand.
- More than 75% of the searches were for housespriced less than INR 7,500 per sqft, majority ofwhich are available in suburbs such as Hinjewadi,Handewadi Road, Wagholi, Dhankawadi, SataraRoad and Airport Road.
- Demand for the 'INR 7,500-10,000 per sqft'price range was well catered, with negligibledemand supply gap. This price range includesmost of the suburbs within the city limits.
- Airport Road, Hadapsar, Baner and Wakadmicro-markets have witnessed high consumeractivity, owing to prominence of old and newoffice clusters and their status as IT/ITeS hubs.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searches andlistings by localities
1 BHK18%
2 BHK53%
3 BHK25%
Above 3 BHK5%
SUPPLY
7,500-10,00017%
5,000-7,50045%
> 10,0007%
< 5,00031%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by active listings
7,500-10,00017%
5,000-7,50042%
> 10,0008%
< 5,00033%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q1 2020, segregated by BHK configuration
Source: Magicbricks Research
.Notes:1. Demand represents property searches on Magicbricks website during Q1 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q1 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 Q1 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 Q1 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 Q1 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Ghorpade Peth
Sinhagad Road
Koregaon Park
Sasane Nagar
Pimple Gurav
Purnanagar
Hinjewadi
Bhugaon
Lohgaon
Wagholi
Chikhali
Dhayari
BhosariPimpri
Aundh
Katraj
Moshi
Ravet
Undri
Nigdi
Sus
© OpenStreetMap contributors
Demand/SupplyDemand
Airport Road 5500 - 12250
Hadapsar 3950 - 9900
Kondhwa-Wanwadi 4300 - 9850
Dhayari-Narhe 3250 - 7950
Baner 5150 - 9350
Paud Road 4300 - 12400
Wakad 5050 - 8700
11
22
53
34
45
86
67
Airport Road 5500 - 12250
Wagholi 3800 - 5700
Hadapsar 3950 - 9900
Baner 5150 - 9350
Wakad 5050 - 8700
Hinjewadi 4050 - 6750
Undri-Pisoli 3500 - 7800
11
32
23
44
55
66
77
Micro-Market Price Range Rank Rank Q1-20 Q4-19
Micro-Market Price Range Rank Rank Q1-20 Q4-19
Page 2© magicbricks.com
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q1 20202. Color of the bubble represents price change in Q1 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
Chakan
Loni Kalbhor
Pirangut
Talegaon Dabhade
Alandi
Handewadi
Shivane
Pisoli
Vadgaon Budruk
Handewadi Road
Wagholi
Narhe
Dhayari
Phursungi
Kiwale
Sasane Nagar
0.7%
-0.9%
-3.0%
0.6%
-0.2%
0.9%
4.5%
-4.4%
1.1%
3.4%
0.4%
-3.9%
-3.8%
4.4%
-4.6%
1.6%
-2.0%
-2.0%
-1.6%
0.8%
4,974
4,957
4,954
4,935
4,882
4,867
4,854
4,812
4,787
4,758
4,598
4,481
4,436
4,330
4,288
4,156
4,046
4,034
3,725
3,592
< INR 5,000 psf INR 5,000-7,500 psf INR 7,500-10,000 psf > INR 10,000 psf
Price Analysis Pune | Jan-Mar 2020
- Price growth was mostly concentrated along the NH 48 Bypass, in prominent localities including Wakad, Baner, Ravet, Punawale, Balewadi, and Kothrudwitnessing price increments.
- Localities around the prime commercial hubs witnessed most of the consumer searches, although there was no consistent price trend for these locations Source: Magicbricks Research
LocalityAvg.Price
PriceChange
Baner Gaon
Pimple Nilakh
Park Street
Yerawada
Baner
Baner-Pashan Link Rd
Wanwadi
Gangadham Road
Market Yard
Bibwewadi
Amanora Park Town
Viman Nagar
Shastrinagar
Magarpatta City
New Kalyani Nagar
Gultekdi
0.2%
6.6%
-1.1%
4.5%
-2.7%
0.3%
-5.2%
0.0%
1.6%
0.4%
-1.7%
2.1%
-1.1%
-6.9%
-6.9%
6.0%
1.1%
2.7%
-0.8%
0.9%
-5.1%
-3.4%
9,809
9,729
9,473
9,272
9,143
9,068
8,762
8,366
8,313
8,281
8,225
8,151
8,132
8,085
8,042
7,922
7,847
7,721
7,692
7,584
7,528
7,517
LocalityAvg.Price
PriceChange
Kothrud
Sopan Baug
Sopan Baug Society
Sadashiv Peth
Parvati Darshan
Koregaon Park
Shivaji Nagar
Model Colony
Erandwane
Karve Road
Law College Road
Boat Club Road
Prabhat Road 0.0%
0.8%
-3.1%
-1.1%
3.0%
0.9%
-1.1%
-0.9%
-5.8%
1.1%
-0.6%
6.9%
2.1%
15,097
14,938
14,533
13,307
12,813
12,546
12,376
11,080
10,851
10,727
10,497
10,433
10,141
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q1 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 Q1 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.
Q1 2020 Price changes for the city's major localities
LocalityAvg.Price
PriceChange
Paud Road
Marunji
Dehu Road
Manjri
Dhankawadi
Undri
Ambegaon Budruk
Lohgaon
Mamurdi
Dighi
Katraj Kondhwa Rd
Gahunje
Manjri Budruk
Dhanori
Punawale
Hinjewadi Phase 3 -7.0%
0.6%
-1.4%
3.9%
3.8%
1.9%
0.3%
-0.5%
2.0%
-0.7%
2.1%
6.7%
-3.6%
-0.5%
1.8%
-2.5%
5,479
5,474
5,401
5,400
5,348
5,344
5,315
5,293
5,269
5,223
5,108
5,102
5,101
5,093
5,082
5,055
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Suneet Saxena | Assistant Manager [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:
Talegaon Dabhade-2.0%
Hinjewadi Phase 3-7.0%
Charholi Budruk-3.0%
Loni Kalbhor-1.6%
Dehu Road-0.5%
Phursungi4.5%
Bhugaon1.4%
Pirangut-2.0%
Wagholi3.4%
Gahunje3.8%
Chikhali0.7%
Shivane4.4%
Bhosari-5.2%
Pimpri1.7%
Manjri-3.6%
Aundh0.3%
Alandi1.6%
Katraj1.0%
Moshi0.6%
Pisoli-3.8%
Camp4.5%
Sus1.2%
© OpenStreetMap contributors
-7.5% 7.5%
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com