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PropIndex | Magicbricks

Residential Market Insights

Housing sales and launches remained sluggish, while prices declined moderately

The outbreak of COVID-19 and the resultant lockdown put new launches in Kolkata on hold, severely impacting bothhousing demand and supply. As a result, the city witnessed muted sales and launches during Q2 2020, and a pricedecline of 1.3% QoQ. While the pandemic raised multiple challenges for developers such as liquidity crunch, laborshortage, disrupted supply chain and rising operating costs, it also pushed buyers to defer their purchase decision inthe wake of job uncertainty, pay cuts and related liquidity stress. Most of the under-construction projects are likelyto be delayed as West Bengal HIRA has extended the project deadlines by 9 months.

The pandemic has impacted the overall sentiment and thus even the high traction localities of Rajarhat, New Town,Action Area, EM Bypass and Mukundapur, were unable to register any price appreciation.

5 YearChange YoY QoQ

-1.3%3.3%4.7%

5 YearChange YoY QoQ

0.1%-0.1%12.9%

“Slow sales, increasedoperating costs, andpressure from unsoldinventory causedstagnation in

under-construction(UC) prices”

KolkataApr-Jun 2020

Parameters India Kolkata

Demand+ -27% -15%Supply++ -43% -31%Price Index+++ -1.5% -1.3%

"During the quarter,city’s residentialready-to-move (RM)prices dropped

marginally, though theygrew by 3.3% YoY"

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + change in the volume of property searches ++ change in the volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Ambuja Neotia

Eden Group

Emami Realty

Ideal Real Estate

Merlin Group

PS Group

Siddha Group

Sureka Merlin & JB Group

Unitech Group

Urbana Group

Urbana E M Bypass

Eden City Maheshtala

Hiland Greens Maheshtala

Larica Township Barasat

Moonbeam Housing Action Area 2

Shapoorji Complex Action Area 3

South City Prince Anwar Shah Rd

SP Shukhobristhi Action Area 3

Utalika Mukundapur

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Launching e-registration of propertydocuments, reopening propertyregistrar offices and extendingproperty tax payment date, would bringimmediate relief to property owners.

- Resumed construction of MajerhatBridge and metro lines of NewGaria-Airport and Noapara-Airport,would benefit city's housing demand.

- World Bank funded logisticsinfrastructure development in areaslike Dankuni, Malda, and Siliguri tokickstart development of peripheralareas of the city.

“Properties saw a minordip of ~2% across

various price brackets,however, prices for UCproperties in the

premium segment grewnearly by 3% owing torising input costs”

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000

2014

2015

2016

2017

2018

2019

2020

2,000

3,000

4,000

5,000

6,000

Price Bracket (INR per sqft)

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

RM UC RM UC RM UC RM UC

-0.8%-1.2%

0.8%

-0.6%-0.1%

-1.8%

2.8%

0.3%

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


Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q2 2020


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.


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


Page 1© magicbricks.com

1 BHK13%

2 BHK47%

3 BHK34%

Above 3 BHK6%

DEMAND

Demand Supply Analysis Kolkata | Apr-Jun 2020

Affordability clearly driving demand in Kolkata even as supply catches up

With limited budget, buyers shifting to 1 and 2 BHK configurationsMost of the consumer searches tookplace in the affordable segment

COVID-19 outbreak had a major impact on thealready subdued Kolkata residential market.While the market largely remained sluggish, thesituation is expected to gradually improve oncethings normalize in the upcoming quarters.

“Mid-segment configurations (2and 3 BHKs) continued to drivemost traction, and accounted formore than 80% of demand and

supply in Kolkata.”

- 3 BHK properties, comprised 45% of Kolkata’slistings, and received only 34% of the consumersearches, indicating preference for smaller sizedapartments.

- Lowest price bracket of ‘less than INR 4,000 persqft’ registered around 60% of the total propertysearches, during the COVID-19 impacted quarter.

- ‘Less than INR 4,000 per sqft’ price bracketwitnessed a demand-supply mismatch as 57% ofthe searches corresponded to only 41% ofKolkata’s total listings.

- Kolkata market continued to be driven by theservice class buyers and affordability, asNewtown-Rajarhat and North Kolkata remainedthe top two micro-markets in the city.

Top Micromarkets by consumersearches

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

1 BHK5%

2 BHK42%

3 BHK45%

Above 3 BHK8%

SUPPLY

6,000-8,00013%

4,000-6,00036%

> 8,00010%

< 4,00041%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

> 8,0006%6,000-8,000

8%

4,000-6,00028%

< 4,00057%

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


.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


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.


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.


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.


Salt Lake City Sector 3

Madhyam Gram

Action Area 3

Barrackpore

Santragachi

Maheshtala

Haridevpur

Hindmotor

Srirampur

Agarpara

Nayabad

Barasat

Howrah

Shibpur

© OpenStreetMap contributors

Demand/SupplyDemand

Newtown-Rajarhat 2500 - 5950

North Kolkata 2100 - 8250

Central Kolkata 3200 - 16400

South-West Kolkata 2400 - 5550

South East Kolkata 2750 - 9150

South Extension 2750 - 5850

Howrah 1900 - 4600

11

22

43

54

35

76

67

Newtown-Rajarhat 2500 - 5950

Central Kolkata 3200 - 16400

North Kolkata 2100 - 8250

South East Kolkata 2750 - 9150

South-West Kolkata 2400 - 5550

South Extension 2750 - 5850

E M Bypass 2100 - 9750

11

22

43

34

55

66

77

Micro-Market Price Range Rank Rank Q2-20 Q1-20

Micro-Market Price Range Rank Rank Q2-20 Q1-20


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

Barasat

Konnagar

Baruipur

Hindmotor

Dum Dum Canton..

Sodepur

Khardah

Barrackpore

Sonarpur

Madhyam Gram

Thakur Pukur

Rajpur

Airport Area

Birati

Uttarpara

Dum Dum

5.0%

-7.5%

-0.9%

0.3%

-7.5%

3.1%

0.5%

-0.7%

-0.6%

2.9%

-1.6%

1.9%

0.6%

0.0%

-1.3%

0.4%

0.0%

-1.9%

7.5%

3.6%

-2.2%

-4.2%

-7.3%

-1.5%

-3.1%

1.6%

0.6%

-4.0%

-5.1%

-2.1%

-5.6%

3.6%

-6.2%

1.5%

-7.5%

4.4%

-2.6%

-2.6%

6.4%

-0.2%

-1.3%

-4.7%

2.0%

-7.5%

-7.5%

-7.5%

0.0%

1.0%

0.0%

-1.8%

3,995

3,962

3,925

3,910

3,874

3,843

3,820

3,778

3,758

3,745

3,725

3,723

3,719

3,694

3,689

3,684

3,673

3,616

3,615

3,602

3,532

3,521

3,506

3,490

3,416

3,409

3,382

3,377

3,352

3,311

3,311

3,306

3,292

3,269

3,213

3,173

3,173

3,155

3,139

3,076

3,074

3,017

2,894

2,816

2,782

2,755

2,684

2,573

2,531

2,467

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

Price Analysis Kolkata | Apr-Jun 2020

- Following the pandemic, even the most preferred localities observed price stagnation or a modest dip of 2-5%. These include Rajarhat, New Town, Action Area1 & 2, Howrah, EM Bypass and Mukundapur.- Salt Lake City, Kasba, Picnic Garden, Keshtopur, Lake Town and Bangur Avenue showed price appreciation of up to 5%, due to their accessibility to keycommercial hubs of BBD Bagh, Park Street and Salt Lake Sector V.


LocalityAvg.Price

PriceChange

Haltu

Salt Lake City

Lake Gardens

New Alipore

Hiland Park

E M Bypass

Salt Lake City Sector 5

Kankurgachi

Park Circus

EM Bypass South East

Jodhpur Park

Topsia

EM Bypass Extension -6.1%

7.5%

-1.2%

-7.5%

-1.0%

-4.9%

1.2%

-4.9%

-3.1%

-3.6%

2.2%

1.1%

-3.6%

7,597

7,577

7,244

7,082

7,002

6,727

6,704

6,674

6,671

6,429

6,384

6,348

6,216

Locality Avg. PricePrice

Change

Kalighat

Ballygunge

Gariahat

SouthernAvenue

Keyatala Road

Bhawanipur

Prince AnwarShah Road

Alipore -0.9%

3.6%

7.5%

-3.7%

-5.2%

-5.4%

-0.7%

7.4%

13,002

10,419

10,343

10,332

10,240

10,091

9,509

9,479

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

Picnic Garden

Garia

Chinar Park

Dum Dum Metro

Santoshpur

Rajarhat Main Road

Mahamaya Tala

Beliaghata

Purbalok

Hussainpur

Madurdaha

Naktala

VIP Road

Dhakuria

Rajarhat

Action Area 2

0.0%

0.1%

0.0%

-2.9%

-6.4%

2.8%

1.0%

-7.5%

-0.2%

-3.5%

-1.7%

-0.1%

0.0%

3.2%

2.6%

-1.0%

2.1%

1.9%

0.0%

-4.9%

-0.1%

-7.5%

-7.5%

1.0%

2.1%

2.3%

0.1%

-7.5%

7.5%

-2.6%

-7.5%

7.5%

-0.8%

0.9%

4.6%

5,829

5,678

5,638

5,189

5,067

5,010

4,982

4,883

4,877

4,868

4,842

4,819

4,811

4,808

4,782

4,743

4,737

4,720

4,687

4,684

4,640

4,630

4,623

4,475

4,472

4,464

4,442

4,320

4,313

4,311

4,261

4,207

4,194

4,094

4,064

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | 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:

Madhyam Gram-1.3%

Gopalpur Gram0.5%

Salt Lake City1.1%

Action Area 10.0%

Action Area 31.9%

Maheshtala3.6%

Hindmotor0.0%

Uttarpara4.4%

Paikpara0.0%

Nayabad1.6%

Sodepur-7.5%

Howrah-2.2%

Shibpur-0.6%

© OpenStreetMap contributors

-7.5% 7.5%

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


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