A look into the real estate figures in Mumbai city during the period July - December 2015.

1. Mumbai
July – December 2015

2. Drastic reduction in
new project launches;
Prices steady
RESIDENTIAL

3. 138,613
114,710
121,615
109,229
62,345
39,663
108,680
96,226
85,978
74,094
67,715
62,581
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2010 2011 2012 2013 2014 2015
Noofunits
Launches Absorption
Launches down by 36% Y-o-Y;
Demand dips by 8%
8%
36%

4. 67,172
49,022
53,667
52,222
26,833
20,776
60,179
41,981
41,369
32,717
36,505
34,135
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
H2 2010 H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
No.ofunits
Launches Absorption
Launches down by 23% Y-o-Y;
Demand dips by 6%
6%
23%

5. Housing consumption at pre-general
election era
20,386
21,035
17,392
21,903
17,182
-
5,000
10,000
15,000
20,000
25,000
Q4 2011 Q4 2012 Q4 2013 Q4 2014 Q4 2015
Noofunits
Absorption

6. PRICES stagnant
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
Rs./sq.ft.
MMR prices

7. The ‘budget’ Peripheral
markets in distress

8. Budget market (INR 30-60L) decimated
13113
8110
8,389
6,161
6,218
5,443
13765
11550
12,404
12,316
11,555
9,677
16602
10922
10,031
7,133
7,663
7,451
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
H2 2010 H2 2011 H2 2012 H2 2013 H2 2014 H2 2015
Noofunits
Demand Trend
Navi Mumbai Peripheral Central Suburbs Peripheral Western Suburbs

9. Despite city level Demand
fall, thane bucks the trend

10. Momentum improves in thane;
connectivity & right ticket size the
reasons
3,128
1,774
1,390
3,918
2,710
1,814
2,733
3,097
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
H2 2012 H2 2013 H2 2014 H2 2015
Noofunits
Launches Absorption

11. south mumbai;
the sleeping giant awakens

12. south Mumbai market marks an
improvement
-
284
100
208
163
121
145
220
-
50
100
150
200
250
300
H2 2012 H2 2013 H2 2014 H2 2015
Noofunits
Launches Absorption

13. Demand steady,
supply IS DECLINING
Office

14. 2015 Office absorption at 130% of
new completion
14.5
12.0
7.6
9.2
5.8
8.0
6.0 6.2
7.3 7.5
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
2011 2012 2013 2014 2015
mnsqft
New completion Absorption

15. Low supply, steady demand improves
occupancy
6.0
3.8
6.4
3.5
2.6
2.4
4.8 5.0
23.2%
22.8%
22.6%
20.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
24.0%
-
1.0
2.0
3.0
4.0
5.0
6.0
7.0
H2 2012 H2 2013 H2 2014 H2 2015
mnsqft
New completions Absorption Vacancy (RHS)

16. Office market Rents trending up
CUFFE PARADE
NARIMAN POINT
WORLI
LOWER
PAREL
DADAR
VASHI
GHANSOLI
AIROLI
BELAPUR
VIKHROLI
KURLA
BHANDUP
ANDHERI
GOREGAON
MALAD
BALLARD ESTATE
THANE
POWAI
BKC
KALINA
CBD & OFF-
CBD
PBD
SBD WEST
CENTRAL
MUMBAI
BKC & OFF
BKC
Proposed
International Airport

SBD CENTRAL 3%
3%
2%
2%
50-70
80-130
90-130
210-310
150-190
160-260
8.6%
16.5%
6.9%
24.8%
18.7%
26.1%
6 MONTH CHANGE
in rental value
Rental value range
in h2 2015 (INR/sq ft)
% % VACANCY
20%
OVERALL
MMR

17. KEY TAKEAWAYS
RESIDENTIAL
housing consumption is back to the pre-general
election era of Q4 2013
Desired result of the 125 bps cut in repo rate and the
housing for all initiative not achieved
OFFICE
In 2015, demand exceeded supply for the first time since
2008
As a result of the improving demand supply equation,
vacancy level trended down