This document provides a quarterly update on the Indian residential property market in May 2013. It summarizes economic indicators and trends in key cities like Mumbai, Delhi, and Gurgaon. In Mumbai, demand increased for projects priced affordably, while capital and rental values saw marginal changes. Delhi saw limited new supply and price appreciation of 2-7% in some areas. New projects launched in Gurgaon priced between Rs. 5,000-9,000 per square foot, with buyer activity restrained by high prices.
The report gives an overall macroeconomic overview followed by latest real estate updates and trends in each city through supply and demand, rental and capital values as well as market prognosis for 2013 onwards.
In the first quarter of 2016, the top six* cities witnessed the
infusion of nearly 19,000 new residential units. Of the total,
maximum launches were concentrated in Mumbai (34%),
Bengaluru (32%) and Pune (12%). Whilst developers across all
major cities steered clear of inundating the primary residential
segment with too many new products, recovering market
confidence prompted them to lure buyers with cash discounts
and freebies. As per Reserve Bank of India (RBI)’s new
directive, interest rates will have to be reviewed every month on
the basis of MCLR (marginal cost of lending rate) which is
expected to bode well for the buyers seeking home loans.
Leasing remained healthy in 2016 despite the flight
of cost-conscious tenants to Delhi's satellite cities.
Demand continued to be driven by the financial
services and manufacturing companies. We expect
0.3 million sq ft (27,870 sq meters) of Grade A office
supply to be delivered in Q1 2017 mainly in the CBD.
We expect a correction in rents especially in grade B
buildings due to tenants' preference for premium
buildings.
In Q1 2017, occupiers mainly continued expansion in
southern peripherals. Though we expect occupier
demand to remain upbeat in these locations, the
upcoming new supply is unlikely to meet the rising
demand in coming quarters resulting in upward
pressure on rents. Absorption of pre-committed
spaces coupled with expected demand upsurge is
likely to outpace the upcoming supply pipeline of 8.1
mn sq ft (757,160 sq m) by the year end.
Stay abreast of trending CRE news and updates with Corner Space. This edition highlights the effect of the Union Budget on the CRE sector, Bengaluru booming as a commercial real estate hotspot and more. Stay tuned!
This document summarizes an investment opportunity in Vedic City, located near Delhi and NCR. Vedic City is being developed by Shri Infratech, a reputed real estate developer in India. The key points are:
- Vedic City is located on 3605 acres near Greater Noida and will include residential and commercial developments inspired by ancient Indian architecture as well as spiritual and wellness facilities.
- The project aims to attract residents and businesses by providing modern amenities while promoting Indian culture and values.
- The location is strategically situated near major transport infrastructure like the Eastern Peripheral Expressway, providing connectivity to Delhi, Noida, Ghaziabad and other major cities in the region
With most of the new supply scheduled for
completion in 2018, vacancy in Pune market is likely
to remain tight in the short term. We cannot rule out
the possibility of further increase in rent as the
additional supply infusion may not meet the pent-up
demand of the last few quarters. In our opinion, the
market is likely to remain tilted in property owners'
favour for a while. In our view, developers should
expedite completion of projects under construction
and plan more new projects to profit from the
untapped demand in the market.
The report gives an overall macroeconomic overview followed by latest real estate updates and trends in each city through supply and demand, rental and capital values as well as market prognosis for 2013 onwards.
In the first quarter of 2016, the top six* cities witnessed the
infusion of nearly 19,000 new residential units. Of the total,
maximum launches were concentrated in Mumbai (34%),
Bengaluru (32%) and Pune (12%). Whilst developers across all
major cities steered clear of inundating the primary residential
segment with too many new products, recovering market
confidence prompted them to lure buyers with cash discounts
and freebies. As per Reserve Bank of India (RBI)’s new
directive, interest rates will have to be reviewed every month on
the basis of MCLR (marginal cost of lending rate) which is
expected to bode well for the buyers seeking home loans.
Leasing remained healthy in 2016 despite the flight
of cost-conscious tenants to Delhi's satellite cities.
Demand continued to be driven by the financial
services and manufacturing companies. We expect
0.3 million sq ft (27,870 sq meters) of Grade A office
supply to be delivered in Q1 2017 mainly in the CBD.
We expect a correction in rents especially in grade B
buildings due to tenants' preference for premium
buildings.
In Q1 2017, occupiers mainly continued expansion in
southern peripherals. Though we expect occupier
demand to remain upbeat in these locations, the
upcoming new supply is unlikely to meet the rising
demand in coming quarters resulting in upward
pressure on rents. Absorption of pre-committed
spaces coupled with expected demand upsurge is
likely to outpace the upcoming supply pipeline of 8.1
mn sq ft (757,160 sq m) by the year end.
Stay abreast of trending CRE news and updates with Corner Space. This edition highlights the effect of the Union Budget on the CRE sector, Bengaluru booming as a commercial real estate hotspot and more. Stay tuned!
This document summarizes an investment opportunity in Vedic City, located near Delhi and NCR. Vedic City is being developed by Shri Infratech, a reputed real estate developer in India. The key points are:
- Vedic City is located on 3605 acres near Greater Noida and will include residential and commercial developments inspired by ancient Indian architecture as well as spiritual and wellness facilities.
- The project aims to attract residents and businesses by providing modern amenities while promoting Indian culture and values.
- The location is strategically situated near major transport infrastructure like the Eastern Peripheral Expressway, providing connectivity to Delhi, Noida, Ghaziabad and other major cities in the region
With most of the new supply scheduled for
completion in 2018, vacancy in Pune market is likely
to remain tight in the short term. We cannot rule out
the possibility of further increase in rent as the
additional supply infusion may not meet the pent-up
demand of the last few quarters. In our opinion, the
market is likely to remain tilted in property owners'
favour for a while. In our view, developers should
expedite completion of projects under construction
and plan more new projects to profit from the
untapped demand in the market.
Sonepat Global City | Jindal realty | 8010055333Jindal Realty
Jindal Realty Pvt. Ltd., one of the renowned real estate developers in Sonepat. offers Residential and commercial property in Sonepat. for more info visit - http://www.jindalrealty.com/ or Call - 8010055333 Toll Free
Bahadurgarh- next investment destination.Yashank Wason
Bahadurgarh is a city located near Delhi that has experienced rapid industrial and economic growth in recent decades. It has a population of over 170,000 people and literacy rates above 80%. The city has over 2,500 industrial units employing 75,000 people across sectors like plastics, footwear, and manufacturing. Real estate is emerging as a promising investment opportunity as the city transforms from an agricultural to industrial economy and benefits from improved infrastructure like metro rail connections to Delhi. Affordable housing in particular is in high demand given relatively low property prices and support from government initiatives.
In the ninth volume of Corner Space, our fortnightly newsletter, we bring you recent highlights from the Indian commercial real estate sector. Find out why Navi Mumbai is the upcoming commercial hub of India and how employees are the key drivers behind a firm's real estate strategy.
Discover the trends that will reshape the CRE sector. This insightful edition is truly a delightful read.
Sonepat global city | Plots in Sonepat | Floors in SonepatKavita Sharma
Sonepat Global City - Buy Residential and commercial space in Jindal Global City Sonepat. Get updated details of villas, floors, commercial space and plots for sale in Sonepat. to Know more visit - http://www.jindalrealty.com/sonepat-global-city.php
Toi property | Pankaj Bajaj Eldeco News-EmailPankaj Bajaj
The document discusses real estate development opportunities in the Kundli, Sonipat, and Panipat areas of Haryana. It notes that developers and investors are interested in these areas as property prices are still lower than other parts of the NCR, and several major infrastructure projects are improving connectivity to the region. Specific projects discussed include the KMP Expressway, education city projects, industrial parks, and residential developments by groups like TDI, Omaxe, and Eldeco across the three areas. The Surajkund area near Delhi is also highlighted as an emerging affordable residential market with prices about 25-50% lower than nearby areas in south Delhi.
Neemrana, Rajasthan is emerging as an important industrial and educational hub due to its strategic location near Delhi and development initiatives like the Delhi-Mumbai Industrial Corridor. It has seen major growth in real estate and industrial development with the establishment of special economic zones and industrial parks that are home to many Japanese, Korean and other international companies. The region is also developing into an education destination with many universities setting up campuses there to leverage the strong industrial presence and infrastructure development.
Colliers Analysis | Real Estate Perspective | Union Budget 2013 -14Surabhi Arora, MRICS
The document provides a summary of the key highlights of the Union Budget 2013-14 that may impact the real estate sector in India. Some of the key points include:
1) Introduction of 1% TDS on property transactions over Rs. 50 lakh to increase transparency.
2) Increase in excise duty on marble to increase construction costs.
3) Continued service tax exemption for affordable housing and single units.
4) Allocation of funds for rural housing, urban housing, and infrastructure development which will indirectly boost the real estate sector.
5) Increase in home loan interest exemption limit to promote home ownership.
However, the budget remained silent on granting industry status to real estate and other
Various factors impacted the Asian economies during 2Q 2013, such as further confirmation
of slower than expected growth in China and increasing worries on the next interest hike
in Asia as the US Federal Reserve signaled they may start scaling back its quantitative
easing policy later this year. Against a backdrop of weakening economic conditions across
the region, individual Asian countries have seen a drop in inflation and are still subject to
various challenges ahead such as the potential risk of liquidity outflow from Asia. With
the economic performance yet to show any sign of acceleration, the region is entering an
era of slower growth.
The economic environment in Asia is expected to remain uncertain as the region continues
to be reactive to the overall global economic conditions. Individual governments are expected
to focus on economic issues and introduce additional stimulus measures to help their
countries emerge from prolonged bouts of deflation. Nevertheless, based on the findings
of Colliers Asia Office Leasing Survey for 2Q 2013, it is anticipated that rents will increase
in the next 12 months but the pace of rental growth will taper off. Investment transaction
volume is likely to consolidate further in the second half of 2013, as risk-averse investors
continue to be cautious, due to concerns that rising interest rates will lead to higher property
yields and reduced property values.
The report will provide you a year-end review of the Mumbai office market and the prognosis for 2014. The Highlights of the report are as follows:
• The prevailing sentiment in 2013 was one of caution due to uninspiring economic conditions.
• Cumulative new leasing of office space in Mumbai in 2013 was 4.76 MN SF
• The BFSI and IT/ITeS were the major occupiers accounting for 46% of the total absorption.
• In 2014, Landlords will be willing to offer greater incentives, rather than lowering base rentals.
• Occupiers holding decisions in 2013 are likely take up new space in 2014 post the national elections hoping for a more inspiring economic trend and improvement of sentiment
For More information:
Please contact
Surabhi Arora | Associate Director | Research
Surabhi.arora@colliers.com
1. Office absorption in Mumbai picked up towards the end of 2014, though total absorption of 3.12 million sq ft was still 44% lower than 2013.
2. BFSI continued to be the dominant sector in Mumbai, occupying 39% of office space, while Western suburbs remained the most preferred location.
3. Vacancy levels fell to 14% in 2014 from 14.5% in 2013, despite limited new supply of 3.3 million sq ft added during the year. Rents witnessed a 4% annual increase due to low vacancy.
4. The outlook for 2015 is positive with demand expected to rise in the first half of the year, while new supply entering the market in the second half will
This document provides an overview of the Asia Pacific office market in the fourth quarter of 2011. Some key points:
- Economic growth slowed in many markets due to issues in Western economies and slowing exports. However, low interest rates supported investment.
- Leasing demand was mixed across markets, with Greater China seeing strong demand from financial, manufacturing, and IT firms. Rents increased in some cities like Jakarta but softened in others.
- Office investment sales remained robust despite softening rents, as yields compressed slightly. Domestic investors and funds remained active buyers.
- The outlook anticipates continued demand softening in the first half of 2012 but stable capital values, with a potential pickup in deals and
HIGHLIGHTS
• uring 1Q 2014, office absorption in eight major cities was recorded at around 8 MN SF, 7% up from last quarter.
•Bangalore and NCR topped the chart contributing 75% in the total absorption.
•All markets, with the exception of Mumbai, Chennai and Pune, have witnessed increase in office absorption.
•With positive signals emanating from the global economy, which finds resonance in our improved export performance, we anticipate further improvement in sentiments after the elections
Colliers International Research has just released the Asia Pac Office Market Overview 3Q 2012. The report provides real estate office market trends in Asia Pac region. The office sector in the Asia Pacific region continued to be challenging in 3Q 2012 with a slowing economic growth and the unresolved European debt crisis; market participants are holding positive views on market outlook but confidence is not as strong as the previous quarter. Looking ahead, the prospective trend of office rents in most cities will remain positive in the next 12 months, despite a substantial supply projected to enter the market in individual cities.
The document provides information on real estate investment in India by non-resident Indians (NRIs). It states that NRIs can purchase immovable property in India with no restriction on the number of properties. The purchase can be funded through inward remittances to India or through NRI bank accounts. NRIs can also take loans from Indian banks for property purchase. Upon sale, NRIs can repatriate the proceeds up to $1 million per year, subject to restrictions like proof of original purchase amount. The document also outlines various costs involved like taxes, maintenance costs, and agents/brokers fees. It provides details on applicable taxes like stamp duty, capital gains tax, and annual property taxes.
• In 1Q 2013, Mumbai, NCR, Bangalore, Chennai Kolkata and Pune recorded an overall absorption of more than 8 million sq ft. Bangalore saw the highest absorption, followed by the Mumbai and NCR markets however, Kolkata and NOIDA markets witnessed relatively weaker demand. We anticipate stability in rental values across the major markets due to large inventory in pipeline despite recovery in demand.
HIGHLIGHTS
• Due to the pessimistic economic outlook, sales volumes have come down in India’s major residential markets.
• Developers were willing to negotiate on prices and offered various incentives in primary market.
• In the secondary market prices were well below that of the primary market.
• We anticipate that the residential sector will witness lower demand until at least the national elections.
• For those looking at a longer term investment, this is a good time to buy as property today is available at discounts, and with prospects of a stable government the demand is likely to rebound.
The residential property markets in India are facing lower demand due to the adverse economic climate and slowing growth. In major cities like Mumbai, Delhi, and Gurgaon:
- Housing sales volumes have declined 15-40% from a year ago as investor interest has waned.
- Property prices have softened with developers offering discounts and incentives in the primary market. The secondary market is seeing substantial price discounts.
- Rental values have remained stable in major cities but are under pressure, with tenants negotiating for lower rents.
- The outlook is cautious, with demand expected to remain muted until the national elections. However, buying property now offers longer-term investment potential as demand is expected to rebound with economic growth.
The residential property market in India remained subdued in the third quarter of 2013. Demand for residential units declined in both the primary and secondary markets due to high inventory levels and tight liquidity. Across major cities like Mumbai, Delhi, and Gurgaon, transaction volumes were low and capital values remained largely stable or declined slightly. Looking ahead, demand is expected to remain constrained until economic and political uncertainty clears while oversupply gets gradually absorbed over the coming quarters.
The occupiers’ demand remained cautious regarding expansion plans in almost all cities amid global economic crisis. The six major cities ie; Mumbai, NCR, Bengaluru, Chennai, Kolkata and Pune recorded an overall absorption of around 6.93 million sq ft which is approximately 15% less than 1Q 2013. Top ranking city for highest absorption rate continues to be Bangalore, Mumbai and NCR region with levels of 2.5 mln sq. ft., 1.41 mln sq. ft. and 1.45 mln sq. ft respectively.
HIGHLIGHTS
• Restricted sales transactions were observed in major cities like Mumbai, Delhi, Gurgaon and NOIDA during 1Q 2014. However, an increase in the number of enquiries for residential properties has been seen across the markets.
• Chennai, Bengaluru and Pune markets remained active and witnessed ample new project launches.
• Capital values remain stable in most cities. However select micro markets with inherent demand witnessed increases in the range of 2 - 5% Q-o-Q.
• With the new Government in place and business confidence gaining momentum, we anticipate an increase in residential sales in the coming quarter.
After a period of slow inventory movement in Mumbai, some micro markets saw marginal improvement in demand at introductory levels, particularly for mid-range and affordable housing projects in western suburbs and peripheral areas. While developers launched some new premium projects, the quarter saw fewer launches overall as developers held back amid uncertainty around a new development plan. Capital values increased slightly in western suburbs but were mostly stable elsewhere, while rents increased marginally in western suburbs but remained flat across the city.
The real estate industry in India has experienced rapid growth and contributes significantly to the country's GDP and employment. It includes residential, commercial, retail, and hospitality segments. Key factors driving growth include rising incomes, increased availability of financing, and urbanization. While growth has been highest in major cities, smaller cities and towns are also expanding. The industry generates substantial demand for raw materials and employs many workers. Overall revenues are projected to reach $180 billion by 2020, representing a compound annual growth rate of 11.6%. The residential sector faces an urban housing shortage of over 18 million units. Commercial real estate also offers investment opportunities, though larger minimum investment sizes. The retail sector is seeing increased organized development and foreign investment.
Sonepat Global City | Jindal realty | 8010055333Jindal Realty
Jindal Realty Pvt. Ltd., one of the renowned real estate developers in Sonepat. offers Residential and commercial property in Sonepat. for more info visit - http://www.jindalrealty.com/ or Call - 8010055333 Toll Free
Bahadurgarh- next investment destination.Yashank Wason
Bahadurgarh is a city located near Delhi that has experienced rapid industrial and economic growth in recent decades. It has a population of over 170,000 people and literacy rates above 80%. The city has over 2,500 industrial units employing 75,000 people across sectors like plastics, footwear, and manufacturing. Real estate is emerging as a promising investment opportunity as the city transforms from an agricultural to industrial economy and benefits from improved infrastructure like metro rail connections to Delhi. Affordable housing in particular is in high demand given relatively low property prices and support from government initiatives.
In the ninth volume of Corner Space, our fortnightly newsletter, we bring you recent highlights from the Indian commercial real estate sector. Find out why Navi Mumbai is the upcoming commercial hub of India and how employees are the key drivers behind a firm's real estate strategy.
Discover the trends that will reshape the CRE sector. This insightful edition is truly a delightful read.
Sonepat global city | Plots in Sonepat | Floors in SonepatKavita Sharma
Sonepat Global City - Buy Residential and commercial space in Jindal Global City Sonepat. Get updated details of villas, floors, commercial space and plots for sale in Sonepat. to Know more visit - http://www.jindalrealty.com/sonepat-global-city.php
Toi property | Pankaj Bajaj Eldeco News-EmailPankaj Bajaj
The document discusses real estate development opportunities in the Kundli, Sonipat, and Panipat areas of Haryana. It notes that developers and investors are interested in these areas as property prices are still lower than other parts of the NCR, and several major infrastructure projects are improving connectivity to the region. Specific projects discussed include the KMP Expressway, education city projects, industrial parks, and residential developments by groups like TDI, Omaxe, and Eldeco across the three areas. The Surajkund area near Delhi is also highlighted as an emerging affordable residential market with prices about 25-50% lower than nearby areas in south Delhi.
Neemrana, Rajasthan is emerging as an important industrial and educational hub due to its strategic location near Delhi and development initiatives like the Delhi-Mumbai Industrial Corridor. It has seen major growth in real estate and industrial development with the establishment of special economic zones and industrial parks that are home to many Japanese, Korean and other international companies. The region is also developing into an education destination with many universities setting up campuses there to leverage the strong industrial presence and infrastructure development.
Colliers Analysis | Real Estate Perspective | Union Budget 2013 -14Surabhi Arora, MRICS
The document provides a summary of the key highlights of the Union Budget 2013-14 that may impact the real estate sector in India. Some of the key points include:
1) Introduction of 1% TDS on property transactions over Rs. 50 lakh to increase transparency.
2) Increase in excise duty on marble to increase construction costs.
3) Continued service tax exemption for affordable housing and single units.
4) Allocation of funds for rural housing, urban housing, and infrastructure development which will indirectly boost the real estate sector.
5) Increase in home loan interest exemption limit to promote home ownership.
However, the budget remained silent on granting industry status to real estate and other
Various factors impacted the Asian economies during 2Q 2013, such as further confirmation
of slower than expected growth in China and increasing worries on the next interest hike
in Asia as the US Federal Reserve signaled they may start scaling back its quantitative
easing policy later this year. Against a backdrop of weakening economic conditions across
the region, individual Asian countries have seen a drop in inflation and are still subject to
various challenges ahead such as the potential risk of liquidity outflow from Asia. With
the economic performance yet to show any sign of acceleration, the region is entering an
era of slower growth.
The economic environment in Asia is expected to remain uncertain as the region continues
to be reactive to the overall global economic conditions. Individual governments are expected
to focus on economic issues and introduce additional stimulus measures to help their
countries emerge from prolonged bouts of deflation. Nevertheless, based on the findings
of Colliers Asia Office Leasing Survey for 2Q 2013, it is anticipated that rents will increase
in the next 12 months but the pace of rental growth will taper off. Investment transaction
volume is likely to consolidate further in the second half of 2013, as risk-averse investors
continue to be cautious, due to concerns that rising interest rates will lead to higher property
yields and reduced property values.
The report will provide you a year-end review of the Mumbai office market and the prognosis for 2014. The Highlights of the report are as follows:
• The prevailing sentiment in 2013 was one of caution due to uninspiring economic conditions.
• Cumulative new leasing of office space in Mumbai in 2013 was 4.76 MN SF
• The BFSI and IT/ITeS were the major occupiers accounting for 46% of the total absorption.
• In 2014, Landlords will be willing to offer greater incentives, rather than lowering base rentals.
• Occupiers holding decisions in 2013 are likely take up new space in 2014 post the national elections hoping for a more inspiring economic trend and improvement of sentiment
For More information:
Please contact
Surabhi Arora | Associate Director | Research
Surabhi.arora@colliers.com
1. Office absorption in Mumbai picked up towards the end of 2014, though total absorption of 3.12 million sq ft was still 44% lower than 2013.
2. BFSI continued to be the dominant sector in Mumbai, occupying 39% of office space, while Western suburbs remained the most preferred location.
3. Vacancy levels fell to 14% in 2014 from 14.5% in 2013, despite limited new supply of 3.3 million sq ft added during the year. Rents witnessed a 4% annual increase due to low vacancy.
4. The outlook for 2015 is positive with demand expected to rise in the first half of the year, while new supply entering the market in the second half will
This document provides an overview of the Asia Pacific office market in the fourth quarter of 2011. Some key points:
- Economic growth slowed in many markets due to issues in Western economies and slowing exports. However, low interest rates supported investment.
- Leasing demand was mixed across markets, with Greater China seeing strong demand from financial, manufacturing, and IT firms. Rents increased in some cities like Jakarta but softened in others.
- Office investment sales remained robust despite softening rents, as yields compressed slightly. Domestic investors and funds remained active buyers.
- The outlook anticipates continued demand softening in the first half of 2012 but stable capital values, with a potential pickup in deals and
HIGHLIGHTS
• uring 1Q 2014, office absorption in eight major cities was recorded at around 8 MN SF, 7% up from last quarter.
•Bangalore and NCR topped the chart contributing 75% in the total absorption.
•All markets, with the exception of Mumbai, Chennai and Pune, have witnessed increase in office absorption.
•With positive signals emanating from the global economy, which finds resonance in our improved export performance, we anticipate further improvement in sentiments after the elections
Colliers International Research has just released the Asia Pac Office Market Overview 3Q 2012. The report provides real estate office market trends in Asia Pac region. The office sector in the Asia Pacific region continued to be challenging in 3Q 2012 with a slowing economic growth and the unresolved European debt crisis; market participants are holding positive views on market outlook but confidence is not as strong as the previous quarter. Looking ahead, the prospective trend of office rents in most cities will remain positive in the next 12 months, despite a substantial supply projected to enter the market in individual cities.
The document provides information on real estate investment in India by non-resident Indians (NRIs). It states that NRIs can purchase immovable property in India with no restriction on the number of properties. The purchase can be funded through inward remittances to India or through NRI bank accounts. NRIs can also take loans from Indian banks for property purchase. Upon sale, NRIs can repatriate the proceeds up to $1 million per year, subject to restrictions like proof of original purchase amount. The document also outlines various costs involved like taxes, maintenance costs, and agents/brokers fees. It provides details on applicable taxes like stamp duty, capital gains tax, and annual property taxes.
• In 1Q 2013, Mumbai, NCR, Bangalore, Chennai Kolkata and Pune recorded an overall absorption of more than 8 million sq ft. Bangalore saw the highest absorption, followed by the Mumbai and NCR markets however, Kolkata and NOIDA markets witnessed relatively weaker demand. We anticipate stability in rental values across the major markets due to large inventory in pipeline despite recovery in demand.
HIGHLIGHTS
• Due to the pessimistic economic outlook, sales volumes have come down in India’s major residential markets.
• Developers were willing to negotiate on prices and offered various incentives in primary market.
• In the secondary market prices were well below that of the primary market.
• We anticipate that the residential sector will witness lower demand until at least the national elections.
• For those looking at a longer term investment, this is a good time to buy as property today is available at discounts, and with prospects of a stable government the demand is likely to rebound.
The residential property markets in India are facing lower demand due to the adverse economic climate and slowing growth. In major cities like Mumbai, Delhi, and Gurgaon:
- Housing sales volumes have declined 15-40% from a year ago as investor interest has waned.
- Property prices have softened with developers offering discounts and incentives in the primary market. The secondary market is seeing substantial price discounts.
- Rental values have remained stable in major cities but are under pressure, with tenants negotiating for lower rents.
- The outlook is cautious, with demand expected to remain muted until the national elections. However, buying property now offers longer-term investment potential as demand is expected to rebound with economic growth.
The residential property market in India remained subdued in the third quarter of 2013. Demand for residential units declined in both the primary and secondary markets due to high inventory levels and tight liquidity. Across major cities like Mumbai, Delhi, and Gurgaon, transaction volumes were low and capital values remained largely stable or declined slightly. Looking ahead, demand is expected to remain constrained until economic and political uncertainty clears while oversupply gets gradually absorbed over the coming quarters.
The occupiers’ demand remained cautious regarding expansion plans in almost all cities amid global economic crisis. The six major cities ie; Mumbai, NCR, Bengaluru, Chennai, Kolkata and Pune recorded an overall absorption of around 6.93 million sq ft which is approximately 15% less than 1Q 2013. Top ranking city for highest absorption rate continues to be Bangalore, Mumbai and NCR region with levels of 2.5 mln sq. ft., 1.41 mln sq. ft. and 1.45 mln sq. ft respectively.
HIGHLIGHTS
• Restricted sales transactions were observed in major cities like Mumbai, Delhi, Gurgaon and NOIDA during 1Q 2014. However, an increase in the number of enquiries for residential properties has been seen across the markets.
• Chennai, Bengaluru and Pune markets remained active and witnessed ample new project launches.
• Capital values remain stable in most cities. However select micro markets with inherent demand witnessed increases in the range of 2 - 5% Q-o-Q.
• With the new Government in place and business confidence gaining momentum, we anticipate an increase in residential sales in the coming quarter.
After a period of slow inventory movement in Mumbai, some micro markets saw marginal improvement in demand at introductory levels, particularly for mid-range and affordable housing projects in western suburbs and peripheral areas. While developers launched some new premium projects, the quarter saw fewer launches overall as developers held back amid uncertainty around a new development plan. Capital values increased slightly in western suburbs but were mostly stable elsewhere, while rents increased marginally in western suburbs but remained flat across the city.
The real estate industry in India has experienced rapid growth and contributes significantly to the country's GDP and employment. It includes residential, commercial, retail, and hospitality segments. Key factors driving growth include rising incomes, increased availability of financing, and urbanization. While growth has been highest in major cities, smaller cities and towns are also expanding. The industry generates substantial demand for raw materials and employs many workers. Overall revenues are projected to reach $180 billion by 2020, representing a compound annual growth rate of 11.6%. The residential sector faces an urban housing shortage of over 18 million units. Commercial real estate also offers investment opportunities, though larger minimum investment sizes. The retail sector is seeing increased organized development and foreign investment.
This document provides an overview of 15 emerging growth centres in India and analyzes their real estate markets. It discusses the key drivers that are fueling real estate growth in smaller towns and cities, including rising incomes, growth of industries like IT/ITES, retail expansion, and urbanization. The document then examines the current state of the real estate sector in each of the 15 cities and provides data on rental values, capital values, and major real estate developments for residential, commercial, and retail properties. It also outlines the outlook and future potential for real estate growth in these emerging markets over the next 3-5 years.
The real estate sector in India has traditionally been dominated by small regional players with low levels of expertise and transparency. It has witnessed significant growth in recent years due to factors like rising incomes, population growth, and migration to urban areas. There remains a huge housing shortage estimated at 78.7 million units. While the global financial crisis temporarily slowed growth, the sector has since recovered and is expected to become a $180 billion industry by 2020. The government has introduced several initiatives to boost the sector through increased funding, regulatory reforms, and incentives for development.
Although rents are likely to remain stable across
most micromarkets, we believe availability of Grade
A buildings at affordable rent will remain a concern
for the next several years. Thus instead of focusing
purely on spatial requirements, companies should
consider taking advantage of flexible office spaces
and formulate a forward-looking workplace strategy.
This report identifies the top 11 residential investment destinations in India from 2016-2020. It analyzes locations within 6 major cities: Mumbai, NCR, Bengaluru, Pune, Chennai, and Hyderabad. Madh-Marve in Mumbai is identified as the top investment destination, expected to appreciate 94% over 5 years. Other top locations include Ulwe in Mumbai, New Airport Road in Pune, and Panathur-Varthur in Bengaluru. These locations were selected based on factors like employment growth, infrastructure development, and future price appreciation potential.
Perception and Expectation of customer in real estate (ghaziabad,UP)Shubham Aggarwal
India is an over populated country and day by day population is increasing rapidly which created the housing problem. Land prices skyrocketed. Due to high price, insufficiency of land, high cost of land registration, and high price of building materials, people are now not interested to buy a land for building their own house. That’s why they turn to real estate companies who are providing flats or apartments. In response, real estate business has enjoyed a boom over the years. In all over the India, there are now companies growing up like Ansal , wave etc. these companies also spreading throughout other divisional and district towns. There are some secondary literature based articles like real estate financing by Sarkereal. (2011). But there is little research, specifically primary data based one, - what customers are looking for, why they are choosing particular apartment, particular company and for what factors.
property in bahadurgarh ,www.shubhhomez.comHomez Shubh
Umang Realtech Pvt. Ltd. is a strategic partnership between Uppal Group, an Indian real estate developer, and Indus Capital Partners, an American investment firm. Umang has completed projects in Faridabad and Gurgaon and ongoing projects in Bahadurgarh, Delhi, Gurgaon. The document then focuses on Umang's Summer Palms project in Bahadurgarh, highlighting reasons for investing in Bahadurgarh such as upcoming metro connectivity and proximity to Delhi and Gurgaon. Details are provided about amenities at Summer Palms such as a clubhouse, swimming pool, and parking. Pricing structures and payment plans are also listed.
January 2016 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
About Us
Our Team
INDUSTRY ANALYSIS : Real Estate Industry
Topic of the month: Turmoil in Oil Industry
Case Study Analysis: Cadbury Oreo
Concept of the month: Bitcoin
360 Realtors has launched its Quarterly Real Estate Report (Q1 FY 20), covering 5 major Indian Property Markets- Delhi NCR, Mumbai Metropolitan Region (MMR), Hyderabad, Bangalore &, Pune. The in-depth report has captured critical parameters such as transaction growth, price trends, supply-demand pattern, infrastructure update & much more across key Indian cities.
o Ascending corporate occupier demand
o Surge in demand for land in Mumbai
o Upcoming commercial projects to be mixed use development or residential development.
o Creation of Mumbai Development Fund (MDF) to finance mega infrastructure projects in the city.
India Real Estate Market [2029]: Size, Share, and Competitive Intelligence R...Kumar Satyam
According to a report by TechSci Research, titled "India Real Estate Market - By Region, Competition, Forecast and Opportunities, 2029," the Indian real estate market is poised for robust growth during the forecast period of 2025-2029. This projection can be attributed to the emerging trend of urban and semi-urban accommodation and the rising demand for modern office spaces. Furthermore, the country's expanding e-commerce industry is driving the need for warehousing facilities, which is boosting the market's growth.
Realty fact - Realty sector has potential to increase completed space to more...Kumar Saurabh
According to a CBRE-AMCHAM report, India's real estate sector has the potential to increase completed space from 3.6 billion sq ft in 2013-14 to nearly 8.2 billion sq ft by 2025. This expansion could generate 17 million new jobs and more than double the sector's economic contribution from 6.3% to 13% of GDP. However, realizing this growth would require effective use of opportunities and policies to address industry bottlenecks. The report also examines real estate market trends and outlooks across major cities in India.
This investor presentation provides an overview of the Indian real estate market and Nitesh Estates company. The real estate market in India is growing rapidly and expected to reach $180 billion by 2020 due to urbanization and government initiatives. Nitesh Estates has experienced steady growth since 2004, developing over 4.5 million square feet of residential and commercial space. It has an experienced board and long term institutional investors. The company's strategic direction is to diversify revenue streams, expand rental income, explore new verticals, and manage a sustainable debt level.
Colliers radar delhi gurgaon and noida the three aces_june 2018Surabhi Arora, MRICS
The National Capital Region (NCR), is consistently the second largest office market with 20% share of the annual nationwide leasing volume over the past five years. In our opinion, the NCR should retain its dominance in office demand over the next five years. We expect Delhi to see a facelift with redevelopment projects over the coming years. The satellite city Gurugram should remain the preferred city among corporate occupiers against the backdrop of a business-friendly environment, healthy new supply and infrastructure improvements. NOIDA is likely to come out of its image of affordable technology hub and rise as an emerging commercial market. We advise new entrants to choose well- established micromarkets in Delhi and Gurugram while occupiers looking for affordability should start exploring NOIDA for their large requirements and backend operations. In our opinion, investors should keep the momentum upbeat taking cues from the infrastructure initiatives and optimistic business conditions in the region.
The uncertainty regarding the continuity of fiscal incentives is an area of growing concern among various stakeholders in Special Economic Zones (SEZs). Although more than 40.0 million sq ft (3.8 million sq m) of new supply is scheduled for completion before the mandatory deadline of 2020 to qualify for income tax benefits in SEZs, it seems unlikely that all the projects will be completed by then. We advise first-time entrants to pre-commit spaces only in projects that are in advance stages of construction to avoid last-minute delays in starting operations which may lead to disqualification for direct tax benefits. Regardless of optimism among the stakeholders about a further extension of income tax benefits, until this is certain, developers should schedule the completion of construction three to six months in advance
The commercial real estate market in India remained robust in 2017 despite economic disruptions. Office leasing volume was around 42.8 million sq ft excluding pre-commitments, marginally higher than 2016. Bengaluru accounted for the largest share of leasing at 36% followed by NCR at 18%. Demand is expected to be driven by the technology, engineering, manufacturing and finance sectors. Flexibility, collaboration, workspace efficiency and cost effectiveness will be key focus areas for corporate real estate heads in 2018. Flexible office spaces are expected to continue growing while pre-commitments of large office spaces and built-to-suit developments will remain popular strategies. Occupiers may also explore expanding to tier 2 and 3 cities to access cheaper
Pallavaram - Thoraipakkam Road (PTR), the 11 km stretch located in the Old Mahabalipuram Road (OMR) Post-Toll market is gearing up to entice numerous multinational companies and small and medium enterprises to Chennai. Being strategically placed and well connected to the key office markets of the OMR and Grand Southern Trunk (GST) Road, this link road is likely to disrupt the linear growth pattern of the OMR. The PTR is now emerging as a strong new growth centre in the OMR district. Over the next three years, we expect 11.5 million sq ft (1.06 million sq m) of office space supply to see completion in Chennai. Of this total, 58% is concentrated along the PTR. We expect that by 2020 the improved infrastructure and new offices with modern amenities should greatly enhance the area’s appeal to prospective tenants. In our opinion, occupiers looking for expansion within Special Economic Zones (SEZs) should take advantage of huge upcoming supply in this corridor. For relocation and consolidation, occupiers can either pre-commit or opt for built-to-suit options in PTR to hedge against future rent rises.
Colliers Radar Report - Impact of Artificial Intelligence on Indian Real EstateSurabhi Arora, MRICS
Artificial intelligence and automation have the potential to disrupt many industries including real estate. However, AI is expected to complement human roles rather than replace them, and drive productivity and value creation. The convergence of AI, the internet of things, and alternative workplace solutions such as activity-based and agile working will transform buildings and the workplace. Offices of the future are expected to be more efficient, collaborative, and healthier. Indian enterprises should embrace AI early on and invest in skills development, while developers should offer flexible workspaces and prepare for increasing automation. Overall, high rents and poor infrastructure pose greater risks to the Indian property market than AI.
Colliers radar india coworking space - the new kid on the blockSurabhi Arora, MRICS
India offers a great opportunity for coworking space operators to profit from rising demand for flexible, innovative and collaborative workspace designs. We estimate that more than 1.2 million sq ft were leased by coworking operators in India in 2016, which accounted for 3% of the overall leasing volume. Although it represents only a small share of the total leasing demand, coworking operators are planning to lease 8 to 9 million sq ft by 2020.
We foresee that the concentration of coworking spaces will intensify further in Bengaluru, Mumbai, and Gurugram thanks to the availability of adequate infrastructure and opportunities for start-ups in those cities. We recommend occupiers, especially small and medium enterprises, to consider use of flexible space for their office requirements in order to benefit from an integrated networking environment, greater cost-effectiveness and more innovative workspace design.
We expect tenant favourable conditions to attract
domestic companies and Information Technology
majors to expand operations mainly in the New
Town, Rajarhat and Sector V micromarkets. Rents
are likely to register a 3-5% dip in Sector V and
peripheral areas of New Town and Rajarhat as
property owners are likely to remain flexible on rents
to boost occupancy in their buildings.
Amid surging office demand in this re-established IT
hub, most of the upcoming quality office spaces
have been pre-committed by occupiers, creating a
severe supply shortage. Hyderabad's average office
rent is likely to surge in 2017, as en-bloc
completions are still 12-15 months away. We advise
developers to expedite construction and undertake
new projects to meet the heightened occupier
demand to retain the city's image of an affordable
Information Technology and Information Technology
and enabled services (IT-ITeS) location.
Average rents in Gurgaon's office market are expected to remain stable in 2017. Demand is projected to strengthen from the technology and banking sectors. Significant new supply coming online will help keep prime area rents in check, while submarkets like Golf Course Extension Road may see a 2-5% correction. Demand was strong in Q1 2017 especially from IT/ITeS firms, though overall leasing volume declined slightly year-over-year. New completions were concentrated on Golf Course Extension Road, with more supply slated for delivery there and along NH8 by year-end. Vacancy rates may rise slightly due to new inventory, and occupiers are considering more affordable areas as well.
Due to limited availability of quality supply in
preferred micromarkets, peripheral areas of the city
are likely to grow in coming quarters. With
significant new supply scheduled for completion
along Pallavaram-Thoraipakkam Road by 2020, we
expect this corridor to become the next hotspot for
Information Technology and Information Technology
enabled Service (IT-ITeS) occupiers due to its
proximity to Old Mahabalipuram Road (OMR)-Pre
Toll area and Grand Southern Trunk (GST) Road. We
recommend big occupiers looking for large floor
plates in Special Economic Zones (SEZs) to consider
Chennai to benefit from the upcoming SEZ supply in
OMR-Post Toll micromarket.
The latest report by Colliers Research titled ‘India Office Property Market Overview Q1 2017’ is now out and ready for download. Notwithstanding the demonetisation of high-value currency notes in November 2016, the economy recovered faster than expected and early projections suggest a growth of 7.1% in the fiscal year ending March 2017. All the key economic indicators suggest that India’s consumption based recovery is on track, and the economy is benefiting from an upswing in demand and output. Although five months on from demonetisation occupiers' markets across India's major cities have seen no discernible adverse impact, we expect demand to firm up driven by the strengthening economy. Gross office take-up in India amounted to 9.3 million sq ft (863,998 sq m) in Q1 2017. The Bengaluru (Bangalore) market maintained its top position across nine cities despite low vacancy and recorded an overwhelming share of 37% in total absorption. Mumbai and Delhi NCR followed with shares of 18% and 17% respectively in total absorption. Chennai, Pune, Hyderabad and Kolkata accounted for 11%, 9%, 6% and 2% respectively in the overall leasing volume.
The latest radar report by Colliers Research titled "Coworking space: The New Kid on the Block" is out and ready for download. India offers a great opportunity for coworking space operators to profit from rising demand for flexible, innovative and collaborative workspace designs. We estimate that more than 1.2 million sq ft was leased by major coworking operators in India in 2016, which accounted for 3% of the overall leasing volume. Although it represents only a small share of the total leasing demand, coworking operators are planning to lease 8 to 9 million sq ft by 2020.
Tenant appetite for higher quality offices has been
reflected in new leases being executed at abovemarket
rates in select Grade A buildings. We expect
a similar trend in 2017. Due to a dearth of quality
office space in other technology-driven markets like
Pune and Bengaluru, we may see supply-led demand
in coming quarters resulting in increased absorption
volumes.
Demand-supply gap is likely to remain a concern in
coming quarters. While a few grade A office
buildings are likely to see completion towards the
end of 2017, we expect upward pressure on rents at
least in H1 2017. Tenants looking for quality assets
should find their options limited this year given that
most of the new supply is likely to enjoy high precommitment
rates from existing occupiers.
Steady decline in headline vacancy rates, increase in rents in CBD and SBD, pushed the occupiers to peripheral areas. In our opinion peripheral markets should continue to gain the occupier preference as most of the new supply is concentrated in this micro markets.
The latest report by Colliers Research titled "India Office Property Market Overview - Trends to watch for in 2017" is now out and ready for download. India recorded 41.6 million sq ft (3.9 million sq metres) of gross office leasing transactions in 2016. With a modest increase of 3.5% over 2015, the data indicates a robust occupier market. Bengaluru (Bangalore) remained on a high growth trajectory and maintained its leading status among the key cities by retaining a 31% share followed by Delhi-NCR, which represented 18% of the total occupier demand. Despite the fact that many forecasters have revised down their 2017 estimates for India’s GDP to 6.8-7.0% due to short-term adverse repercussions of demonetization, we believe the outlook for the office sector remains positive in 2017. In our view, the policy changes that the government is implementing should help improve business confidence in India resulting in robust office leasing demand in coming years. We predict an average annual rental growth of 4.6% in 2017. Firm demand should absorb new supply in technology-driven markets, keeping vacancy low.
The Kolkata office market remained subdued in 2014 with total absorption of around 1.66 million square feet, similar to 2013 levels. Demand was led by the BFSI, IT/ITES, and construction sectors. Limited supply addition of 1.14 million square feet and below-average absorption kept vacancy levels stable. Grade A office rents declined 7% year-over-year across micromarkets except one. Capital values decreased 16% year-over-year in peripheral locations but increased 3% in the CBD due to domestic investor demand. The market is expected to remain stagnant in 2015 until policy level issues are addressed.
Gurgaon remained the most active office market in NCR in 2014, accounting for 67% of absorption. However, absorption declined 13% YoY to 4.73 million sq ft due to cautious market sentiments. IT/ITeS was the largest demand driver, increasing its share of absorption to 62%. New supply also declined, dropping to 3.2 million sq ft in 2014 from 4.53 million sq ft in 2013 as developers focused on completing existing projects. Office rents increased 6% on average across micro-markets such as NH8, Golf Course Extension Road, and Sohna Road. Gurgaon is expected to remain the preferred office destination in NCR, with leasing dominated by large IT/IT
Delhi witnessed strong office leasing growth in 2014, with absorption nearly doubling compared to 2013. The IT/ITeS sector accounted for the majority of demand. Limited new supply was added in 2014, reducing overall vacancy slightly. Rents remained stable across most markets except for a 2% increase in Jasola and 1% decrease in Connaught Place. The outlook for 2015 is continued recovery in demand and stable rents, with new supply helping maintain equilibrium.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
2. www.colliers.com
research & forecast Report
SYDNEY CENTRAL BUSINESS DISTRICT
India RESIDENTIAL market
Research & forecast report
INDIA | May 2013 | residential
www.colliers.com
1
As of March, 2013 (Provisional)
2
SBI Home Loan Rate for Loan upto INR 30 Lakhs
3
SBI Fixed Deposit rate for a period of more than one year and amount
below INR 1 Crore
4
Realty Index is a free float weighted index, comprised of real estate
development companies in the BSE-500 Index.
ECONOMIC BAROMETER
Return on Alternative Investments
Apr-12 Apr-13
REPO RATE 8.00% 7.50%
REVERSE REPO RATE 7.00% 6.50%
CRR 4.75% 4.00%
INFLATION 7.50% 5.96%
Home Loan Rate 11.00% 9.95%
Apr-12 Apr-13 YoY %
Change
Gold 28,423 26,450 -6.94%
SILVER 55,582 45,117 -18.83%
Fixed Deposit 9.00% 8.25% -8.33%
EQUITY 17,151 18,358 7.04%
REALTY INDEX 1,781 1,803 1.24%
3
4
2
1
Repo Rate Cash Reserve Ratio Wholesale Price Index
ECONOMIC INDICATORS
InPercentage
MACRO ECONOMIC OVERVIEW
As per the latest Reserve Bank of India (RBI) projections, the GDP growth rate was recorded at•
4.5% for the third quarter (October - December 2012), the lowest in the last decade. The revised
projection from the RBI for FY 2013 - 14 stands at 5.7%.
The provisional Wholesale Price Index (WPI) declined to 5.96% for March 2013, as compared to•
7.96% for the corresponding month in the previous year. This decline was primarily due to the
decrease in food price inflation.
The central bank reduced the repo rate by 25 basis points from 7.75 to 7.50% in April 2013 to•
induce much needed liquidity in the market. Subsequently, a few nationalised and private banks
such as the State Bank of India, Canara Bank, Housing Development Finance Corporation Ltd
(HDFC) and Axis Bank reduced their home loan rates marginally in the range of 5 to 25 basis
points.
The Government of India, in its latest Union Budget, has allocated INR 2,000 Crore for creation•
of an Urban Housing Fund at the National Housing Bank. The fund has been created to provide
housing finance at competitive rates in urban areas.
COLLIERS VIEW:• The residential market gained traction in cities such as Mumbai, Bangalore,
Kolkata and Pune, though the NCR market and Chennai recorded steady growth during the
quarter. Projects in affordable segments with the right price points witnessed high absorption
due to an overwhelming response from both investors and end users. Capital values of premium
residential properties in major cities of India displayed a marginal increase in the range of 2 to
7% QoQ. We anticipate increased activity in the primary sales market in the coming quarters
with numerous new launches across the cities.
4.0
3.0
6.0
5.0
8.0
9.0
7.0
11.0
10.0
12.0
Apr‘09
Feb‘09
Dec‘09
Apr‘11
Apr‘12
Apr‘13
Feb‘11
Jun‘09
Jun‘10
Apr‘10
Feb‘10
Jun‘11
Jun‘12
Aug’08
jun’08
Apr‘08
Aug‘09
Aug‘10
Aug‘11
Aug‘12
Dec’08
Oct‘08
Oct‘09
Dec‘10
Oct‘10
Oct‘11
Oct‘12
Feb‘12
Feb‘13
Dec‘11
Dec‘12
2.0
1.0
0.0
-1.0
-2.0
Source: Goverment of India, Colliers International India Research
3. Colliers International | p. 3
MumBAI
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Alpine Kandivali SD Corp 4Q 2015 11,150
Sevens Andheri east Kanakia spaces 4Q 2016 12,500
Prithvii Ghatkopar west Rohan Lifescapes 4Q 2016 12,000
Western Heights Andheri West Adani Group 4Q 2016 16,000
CITY OFFICE BAROMETER
1Q 2012 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
MUMBAI
During 1Q 2013, the city’s residential market•
witnessed launches of premium residential
projects in micro-markets like Parel, Wadala
and Santacruz, priced in the range of INR
16,000 - 20,000 per sq ft. A number of
redevelopment projects were also launched in
the western suburbs.
Demand in the primary market increased•
during the quarter. The project launched
witnessed good absorption due to right price
points. Moreover, the 20-80 payment plans
adopted by developers like Lodha Group,
Bombay Dyeing and Ekta group got buyer
interest due to ease of payment.
Capital values for premium residential•
properties in the central and western suburbs
witnessed a marginal increase QoQ in the
range of 1-3%, while capital values remained
stable in prime locations in south Mumbai.
Rental values remained under marginal•
pressure and recorded a 1-4% decrease
QoQ in almost all micro-markets, except
for locations such as Colaba, Cuffe Parade,
Bandra, Santacruz and Juhu.
The Mumbai Metropolitan Region Development•
Authority (MMRDA) has planned to build a
1.6 km elevated road from the Bandra-Kurla
Complex to the Eastern Express Highway.
Colliers View:• The primary sales market
continued to observe the end user demand.
The festive season of Gudi Padwa also
helped to revive the overall sentiments in
the residential market. In medium term we
anticipate increase in activity in the primary
sales market with numerous launches in line
however, resale market will continue to show
a signs of stagnancy because of high price
points.
0
10,000
20,000
30,000
40,000
60,000
70,000
50,000
80,000
INRpersq.ft.INRpersq.ft.permonth
1Q2008
3Q2008
3Q2009
1Q2009
1Q2010
3Q2010
1Q2012
3Q2012
1Q2013
3Q2013F
3Q2013F
1Q2011
3Q2011
80,000
40,000
50,000
70,000
60,000
10,000
20,000
30,000
0
Micro Market Ongoing Price (P.S.F)
Thane-Kalyan 4,000 - 8,000
Navi Mumbai 3,500 - 7,500
Virar- Boisar 3,000 - 6,000
INDIA | May 2013 | residential
Colaba,CuffeParade
Colaba, Cuffe Parade
MalabarHill,Altamount
Road,CarmichaelRoad
Malabar Hill, Altamount
Road, Carmichael Road
Worli
Worli
BreachCandy,Napeansea
Road,PeddarRoad
Breach Candy, Napeansea
Road, Peddar Road
Prabhadevi
Prabhadevi
Bandra
Bandra
Santacruz
Santacruz
Andheri
Andheri
Powai
Powai
Khar
Khar
Juhu
Juhu
200
150
100
50
0
Powai
Khar
Prabhadevi
Breach Candy,
Napeansea Road, Peddar Road
Malabar Hill, Altamount Road,
Carmichael Road
Colaba, Cuffe Parade
Bandra
Juhu
Andheri
Worli
Santacruz
INRPersq.ft.
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
AVERAGE CAPITAL VALUE RANGE
AVERAGE RENTAL VALUE
AVERAGE CAPITAL VALUE TRENDS
INVESTMENT OPPORTUNITIES
4. p. 4 | Colliers International
INDIA | May 2013 | residential
delhi
KEY ONGOING PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Capital Greens Shivaji Marg DLF Ltd. 2Q 2015 14,000
Castlewood Okhla Indiabulls Ltd. 4Q 2013 12,800
Kings Court Greater Kailash- II DLF Ltd. 1Q 2015 36,000
Queens Court Greater Kailash- II DLF Ltd. 1Q 2015 36,000
Winter Hills Dwaraka Morh Umang Realtech 4Q 2013 8,750
CITY OFFICE BAROMETER
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
delhI
In 1Q 2013, limited supply was added to the•
city’s premium residential inventory. A few
small-scale redevelopment projects were
ready for possession in locations like Vasant
Vihar, Anand Niketan, Shanti Niketan and
Defence Colony.
Capital values for premium residential•
properties appreciated in the range of 2-7%
QoQ in micro-markets like Chanakyapuri,
Friends Colony and Maharani Bagh. The rest
of the micro-markets remained stable.
Rental values for premium residential•
properties remained stable with marginal
downward pressure in micro-markets like
Shanti Niketan, Westend, Panchashila, Anand
lok, Niti Bagh, SDA, Greater Kailash I and II,
South Extension, Anand Niketan and Vasant
Vihar.
The Delhi Development Authority (DDA) has•
approved its land pooling policy, which allows
developers or land owners to pool their land
to develop new areas. The developer or owner
is required to surrender a stipulated portion
of their land to the DDA for infrastructure
development, as well as for green and open
space. The policy also mandates the retention
of a portion of land for economically weaker
sections.
Colliers View:• Developers are adopting a
wait-and-watch attitude in view of the new
master plan, which is anticipated to facilitate
vertical growth in the city and introduce
additional new supply in the long-term.
Moreover, the future phases of the Delhi Metro
project, and other infrastructure developments
across the city, will provide a boost to the real
estate sector.
15,000
0
30,000
45,000
75,000
90,000
105,000
60,000
120,000
INRpersq.ft.INRpersq.ft.permonthINRPersq.ft.
1Q2008
3Q2008
3Q2009
1Q2009
1Q2010
3Q2010
1Q2012
3Q2012
1Q2013F
3Q2013F
1Q2014F
1Q2011
3Q2011
40,000
50,000
60,000
70,000
80,000
100,000
90,000
30,000
20,000
10,000
0
AnandNiketan,
VasantVihar
Anand Niketan,
Vasant Vihar
Panchashila,Anandlok,
NitiBagh,SDA
Panchashila, Anandlok,
Niti Bagh, SDA
FriendsColony,
MaharaniBagh
Friends Colony,
Maharani Bagh
ShantiNiketan,
Westend
Shanti Niketan,
Westend
GreaterKailash
I&II,South
Extension
Greater Kailash
I & II, South
Extension
GolfLinks,JorBagh,
SunderNagar
Golf Links,
Jor Bagh,
Sunder Nagar
ChanakyaPuri
Chanakya Puri
PrithvirajRoad,
AurangzebRoad
Prithviraj Road,
Aurangzeb Road
200
160
120
80
40
0
Golf Links, Jor Bagh, Sunder Nagar
Panchashila, Anandlok, Niti Bagh, SDA
Greater Kailash I & II, South Extension
Chanakya Puri Shanti Niketan, Westend
Friends Colony, Maharani Bagh
Prithviraj Road, Aurangzeb Road
Anand Niketan, Vasant Vihar
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
AVERAGE CAPITAL VALUE RANGE
AVERAGE RENTAL VALUE
AVERAGE CAPITAL VALUE TRENDS
5. Colliers International | p. 5
INDIA | May 2013 | residential
Gurgaon
CITY OFFICE BAROMETER
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
GURGAON
In 1Q 2013, a number of new premium•
residential projects and project phases were
launched. These projects were priced in the
range of INR 5,000 - 9,000 per sq ft in micro-
markets such as New Gurgaon and Dwaraka
Expressway.
Absorption remained restrained due to high•
price-points in boththe primaryand secondary
sales markets, while a few select projects
witnessed an over whelming response from
both investors and end-users in primary
markets. The Dwarka Expressway and New
Gurgaon sectors from 80-92 remained the
most active.
Capital values in the secondary premium•
residential market witnessed a marginal
appreciation QoQ in the range of 5-7% in
select projects at Dwarka Expressway. The
remaining micro-markets witnessed marginal
appreciation in the range of 2-3% during the
quarter.
Rental values witnessed a QoQ increase•
in the range of 3-6% in most of the micro-
markets because of the limited ready to move
properties in the premium segment.
Haryana’s State Government has approved•
a nine-kilometre four-lane corridor from
Mehurali-Gurgaon Road to Gurgaon-Faridabad
Road. The objective of this road is to
decongest traffic and improve the connectivity
between the cities.
COLLIERS VIEW:• The increased investor
participation resulted in increased resale
inventory stock. In near term, the higher price
points will confine the end-user as well as
investor activity in the established residential
micro markets. The emerging micro markets
such as Dawarka Expressway, New Gurgaon
will continue to hold the interest of buyers
while price are expected to remain more or
less at the same level.
0
5,000
15,000
10,000
20,000
25,000
30,000
35,000
45,000
40,000
INRpersq.ft.INRpersq.ft.permonthINRPersq.ft.
3Q2008
3Q2009
1Q2009
1Q2010
3Q2010
1Q2012
3Q2012
1Q2013F
1Q2014F
3Q2013F
1Q2011
3Q2011
6,000
8,000
10,000
12,000
14,000
16,000
18,000
4,000
2,000
0
Micro Market Ongoing Price (P.S.F)
Golf Course
Extension Road
7,500 - 8,500
Sohna Extension 5,000 - 6,500
Pataudi Road 4,500 - 5,500
New Gurgaon 3,500 - 4,500
80
60
40
20
0
GolfCourseRoad
Golf Course Road
SohnaRoad&Ext
Sohna Road & Ext
DLFPhaseI
DLF Phase I
SushantLok
Sushant Lok
NH-8
NH - 8
DLF Phase INH-8
Golf Course Road Sushant Lok
Sohna Road & Ext
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Ekantum Sector 112 Emaar MGF 4Q 2017 9,000
Emerald Bay Sector 104 Puri Construction 4Q 2016 7,250
Grande Sector 92 Sare Homes 4Q 2017 5,250
Sanskriti Sector 92 Bestech Group 4Q 2016 5,750
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
AVERAGE CAPITAL VALUE RANGE
AVERAGE RENTAL VALUE
AVERAGE CAPITAL VALUE TRENDS
INVESTMENT OPPORTUNITIES
6. p. 6 | Colliers International
CITY OFFICE BAROMETER
noida
CITY OFFICE BAROMETER
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
noida
A few new projects were launched in 1Q•
2013. Most of them were new towers in
existing projects in sectors along the NOIDA
Expressway, and were priced in the range of
INR 4,500 - 7,000 per sq ft.
This quarter witnessed limited additional•
supply in the city’s residential stock, as few
under-construction projects offered ready-
for-possession units.
Capital values for premium residential•
properties in the secondary market increased
marginally in the range of 2-4% QoQ, while
micro-markets like Sector 61-63 remained
stable. This could be due to the limited activity
in the secondary sales-market in established
areas. Buyers now prefer new projects with a
modern amenities.
Rental values during this quarter remained•
unchanged across all micro-markets; new
projects were in demand because of the
state-of-an-art facilities and amenities they
offered.
During 1Q 2013, in a major infrastructure push•
the local government authorities of NOIDA and
Greater NOIDA have cleared more than 29
km of metro rail project between NOIDA and
Greater NOIDA. Total cost of the entire project
is expected to be around INR 5,500 crore.
This will further improve the connectivity and
boost the real estate activities between the
two sister cities.
Colliers View:• In mid term, the market will
be dominated by mid-range buyers, primarily
because of the affordability quotient. Prices
are expected to see moderate appreciation,
in view of large upcoming inventory and new
project launches.
5,000
2,000
8,000
11,000
17,000
14,000
20,000
INRpersq.ft.INRpersq.ft.permonth
3Q2009
1Q2010
3Q2012
1Q2013
3Q2013F
1Q2014F
1Q2011
3Q2010
1Q2012
3Q2011
12,000
10,500
9,000
7,500
6,000
4,500
3,000
1.500
0
Micro Market Ongoing Price (P.S.F)
NOIDA Expressway 3,800 - 5,500
Sector 72 - 78 4,500 - 5,800
Sector 117 - 121 4,000 - 5,000
INDIA | May 2013 | residential
40
30
20
10
0
Sector28,29,30
Sector 28, 29, 30
Sector92/93
Sector 92/93
Sector61,62.,63
Sector 61, 62., 63
Sector50
Sector 50
Sector44
Sector 44
Sector 61,62,63
Sector 92 / 93 Sector 28,29,30
Sector 50 Sector 44
INRPersq.ft.
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
AVERAGE CAPITAL VALUE RANGE
AVERAGE RENTAL VALUE
AVERAGE CAPITAL VALUE TRENDS
INVESTMENT OPPORTUNITIES
KEY ONGOING PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Panchsheel Pratishtha Sector 75 Panchsheel Group 4Q 2016 4,600
The Palms Sector 117 Unitech Ltd. 4Q 2016 5,000
Maxblis Grand Kingston Sector 75
Maxblis Construction
Pvt. Ltd.
2Q 2016 4,900
Victory Ace Sector 143B Victory Group 4Q 2016 4,800
Eldeco Inspire Sector 119 Eldeco Group 4Q 2016 4,500
Prateek Edifice Sector 107 Prateek Group 4Q 2016 6,950
7. Colliers International | p. 7
INDIA | may 2013 | residential
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Albatross Egattur
Archean Design &
Development
4Q 2015 6,000 - 7,000
Krona (Ph II) Porur VGN Developers 4Q 2015 4,300
Meritta Kelambakkam, OMR Sobha Developers 4Q 2016 5,000
Pacifica Aurum OMR Pacifica Group 4Q 2015 3,400
Serene Porur Sobha Developers 4Q 2016 4,800
Solitaire West Mambalam Casa Grande 4Q 2015 13,500
CITY OFFICE BAROMETER
chennai
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
CHENNAI
In 1Q 2013, numerous new projects were•
launched in the city. Old Mahabalipuram
Road (OMR), Porur, Ponamalee, Ambattur,
Sriperumbudur, Orgadamand Egattur have
witnessed the most new launches. Most of
these projects were priced in the range of INR
3,400 – 7,000 per sqft.
There was limited supply in the city in micro-•
markets such as GST Road, OMR, Anna
Nagar, Poes Garden, Boat Club Road, RK Salai
and Thiruvanmiyur, due to the completion of
a number of small projects. In these markets
most of the mid-range projects were available
for resale in the price band of INR 7,000 –
12,000 per sqft , while premium projects were
priced in the range of INR 14,000 – 30,000
per sq ft .
Capital values were increased in the range of•
3-5 % in almost all the micro-markets, except
for areas like Beasant Nagar, Alwarpet / R A
Puram and Velachery, where capital values
remained stable.
Rental values witnessed an increase in the•
range of 4 -5% in almost all micro-markets.
The local Civic Authorities have allocated a•
budget over INR 900 crore for roads, parks
and other works; INR 450 crore for storm-
water drains and INR 31.15 crore for bridges.
The key focus is to decongest city roads and
improve the overall city’s infrastructure.
COLLIERS VIEW:• City premium residential
market has been growing at steady pace.
Many developers have launched new projects
across the city. Going ahead, locations along
with OMR and GST Road would remain active
in terms of number of new project launches
because of sustained IT/ITeS development
and planned infrastructure like metro project
and mono rail projects in these locations.
Adyar
AnnaNagar
Nungambakkam
Alwarpet/
RAPuram
Velachery
Sholinganallur
Siruseri/
Kazipattur
TNagar
Beasant
Nagar
BoatClub
6,000
2,000
10,000
18,000
14,000
22,000
26,000
30,000
INRpersq.ft.INRpersq.ft.permonth
Sholinganallur
Velachery
Alwarpet / R A Puram
T Nagar
Beasant Nagar
Adyar
Anna Nagar
Nungambakkam
Boat Club
Siruseri/ Kazipattur
Boat Club
Siruseri/ Kazipattur
Velachery
Sholinganallur
Anna Nagar
T Nagar
AdyarBeasant Nagar
Nugambakkam
Alwarpet / R A Puram
1Q2008
3Q2008
3Q2009
1Q2009
1Q2010
3Q2010
1Q2012
3Q2012
1Q2013F
3Q2013F
1Q2014F
1Q2011
3Q2011
25,000
21,000
17,000
13,000
9,000
5,000
1,000
Micro Market Ongoing Price (P.S.F)
Velachery 5,000 - 7,000
Sholinganallur 3,500 - 4,200
Siruseri/ Kazipattur 2,500 - 3,900
INRPersq.ft.
75
60
45
30
15
0
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
AVERAGE CAPITAL VALUE RANGE
AVERAGE RENTAL VALUE
AVERAGE CAPITAL VALUE TRENDS
INVESTMENT OPPORTUNITIES
8. p. 8 | Colliers International
INDIA | May 2013 | RESIDENTIAL
bengaluru
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Mantri Web City Hennur Road Mantri Developers 4Q 2016 4,490
Prestige Spencer Heights Frazer Town Prestige Group 4Q 2015 14,000
Samrudhi Rhythm Off Hosur Road Samrudhi Developers 4Q 2015 3,450
SJR Plazza City Sarjapur Road SJR Group 4Q 2016 4,302
Tata Haven Tumkur Road Tata Developers 4Q 2016 3,125
The Greens Hosur Road Indya Estates 4Q 2016 2,375
CITY OFFICE BAROMETER
AVERAGE CAPITAL VALUE RANGE
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
BENGALURU (BANGALORE)
In 1Q 2013, the Bangalore residential market•
has seen a number of new launches in micro-
markets such as Hosur Road, Hennur Road,
Tumkur Road and Sarjapur Road. These
new launches were priced in the range of
INR 3,100-5,000 per sq ft, except Prestige
Spencer Heights located at Frazer Town,
which was priced INR 14,000 per sq ft.
The city witnessed additional new supply as•
a number of completed projects and project
phases were finalised this quarter, including
Skyline Ambrosia, RegencyChandra, Vaishnavi
Symphony, Esteem Enclave, Century Celesta,
Skylark Zenith and Legacy Ariston.
Capital values for premium residential•
properties witnessed an increase in the range
of 2-9% QoQ in almost all micro-markets,
except Bannerghatta Road where capital
values remained stable.
Rental values also appreciated in the range of•
1-9% in almost all micro-markets; however
locations like Cooke Town, Airport Road and
Indiranagar remained stable.
In order to reduce congestion and boost•
real estate activities in Bangalore, the state
government and the Asian Development Bank
have decided to develop eight new residential
and industrial clusters in the Ramanagaram-
Channapatna, Kanakapura-Nelamangala,
Dobbspet-Peenya, Doddaballapur, Anekal-
Jigani-Attibele, Devanahalli-Vijayapura,
Magadi and Hoskote- Krishnarajapuram
micro-markets.
COLLIERS VIEW:• The city’s residential
market witnessed healthy demand both from
investors and end-users. We anticipate that
the city will see a number of new launches
in both premium and mid-range categories in
the medium-term. Given the number of new
launches, it is anticipated that prices will see
appreciation in the near-to mid-term.
4,000
0
8,000
16,000
12,000
20,000
24,000
28,000
INRpersq.ft.INRpersq.ft.permonth
AVERAGE RENTAL VALUE
25,000
20,000
15,000
10,000
5,000
0
AVERAGE CAPITAL VALUE TRENDS
Micro Market Ongoing Price (P.S.F)
Airport Road 5,000 - 6,000
Bannerghatta Road 4,200 - 6,000
Whitefield 4,400 - 6,700
Yelahanka 3,800 - 6,000
Yelahanka
Yelahanka
BannerghattaRoad
Whitefield (Appts)
AirportRoad
Koramangala
Whitefield
Bannerghatta Road
Jayanagar
Indiranagar
CookeTown
Airport Road
Koramangala
Palace Orchard
Indiranagar
Jayanagar
PalaceOrchard
Cooke Town
Central
Central
80
60
40
20
0
1Q2008
3Q2008
1Q2010
1Q2009
3Q2009
3Q2010
1Q2011
3Q2012
1Q2013
3Q2013F
1Q2014F
1Q2012
3Q2011
Central
Yelahanka
Koramangala
Indiranagar
Jayanagar
Bannerghatta Road
Palace Orchard
Cooke Town
Airport Road
Whitefield
INRPersq.ft.
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
Note: * As mentioned by developer
** Base selling price as quoted by developer
INVESTMENT OPPORTUNITIES
9. Colliers International | p. 9
INDIA | May 2013 | RESIEDENTIAL
Kolkata
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
Arihant Viento` Tangra Arihant Group 2016 5,800
Arti Green Valley Garia Arti Group 2017 2,400
Mayfair Bloom Jagaddal Mayfair Group 2015 2,280
Mayfair Whitefield Narendrapur Mayfair Group 2015 2,350
Signum Gardenia Bondel Road Heritage Realty Group 2016 6,000
Tirupati Paradise Sonarpur Tirupati Awas 2016 2,014
CITY OFFICE BAROMETER
AVERAGE CAPITAL VALUE RANGE
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
kolkata
During 1Q 2013, the city’s residential market•
witnessed an increase in new premium
project launches in locations like Garia,
Sonarpur, Bondel Road, Tangra, Narendrapur
Howrah and Jagaddal. Most of these projects
were priced in the range of INR 2,400 - 6,000
per sq ft.
Construction activities remain healthy, with•
the completion of numerous residential
projects like Sunny Dale and Sunny Dew II
by Starlite Group, located at EM Bypass and
Garia respectively, and 4 Sight Model Town
by Ganguly Group and Hindustan Enclave by
Somani Realtors, located at Garia.
Demand for residential properties from end•
users and investors picked up this quarter,
and newly launched projects witnessed
high absorption. Capital values increased
in the range of 2-7% QoQ in almost all
micro-markets. Similarly, rental values also
witnessed an increase in the range of 2-5%
QoQ across the city.
In order to boost the city’s infrastructure and•
ease out the traffic conditions between EM
Bypass and Science City, the construction
work of subway taken up by the State
Government has been completed in a record
time of just 29 days.
Colliers View:• Residential sales volumes
are expected to gain momentum in the near-
term.PeripherallocationssuchasTollygaunge,
Behala, Salt Lake, EM Bypass and New Town
Rajarhat will see increased activity, due to
their affordability quotient. Overall, capital and
rental values are expected to remain stable in
the near future, except for south Kolkata due
to the limited supply in this area.
3,000
1,000
7,000
5,000
11,000
9,000
13,000
15,000
17,000
INRpersq.ft.
AVERAGE RENTAL VALUE
2,000
4,000
0
6,000
8,000
10,000
12,000
14,000
16,000
AVERAGE CAPITAL VALUE TRENDS
Micro Market Ongoing Price (P.S.F)
Tollygunge 3,600 - 4,800
Behela 2,900 - 3,700
Salt Lake 4,000 - 5,500
EM Bypass 4,000 - 7,000
New Town -Rajarhat 3,200 - 4,600
Bhawanipur
Bhawanipur
PAShahRoad
PA Shah Road
Tollygunge
Tollygunge
LoudonStreet
Loudon Street
Behela
Behela
Alipore
Alipore
EMBypass
EM Bypass
Ballygunge
Ballygunge
SaltLake
Salt Lake
VIPRoad
VIP Road
NewTownRajarhat
New Town Rajarhat
Bhawanipur
EM Bypass
Ballygunge
Behela
Tollygunge
P A Shah Road
New Town - Rajarhat
Loudon street
Alipore
VIP Road
Salt Lake
1Q2008
3Q2008
1Q2010
1Q2009
3Q2009
3Q2010
1Q2011
3Q2012
1Q2013
3Q2013F
1Q2014F
1Q2012
3Q2011
INRPersq.ft.
40
30
20
10
0
Note: * As mentioned by developer
** Base selling price as quoted by developer
INRpersq.ft.permonth
INVESTMENT OPPORTUNITIES
10. p. 10 | Colliers International
INDIA | May 2013 | RESIEDENTIAL
pune
KEY NEW PROJECTS
Project Name Location Developer Name Tentative Possession* Rate (Per Sq.ft.)**
9 Sadashiv Sadashiv Peth Pinnacle Group 1Q 2015 12,000
Imperium Balewadi
Madhumita Construc-
tions
2Q 2014 5,850
Nyati Epitome NIBM Nyati Group 4Q 2016 5,200
Palm One Kondhwa Nobles Group 1Q 2015 5,100
Pittie Kourtyard Kharadi
Raja Bahadur Interna-
tional Ltd.
1Q 2014 5,000
Privie Sienna Hadapsar Kumar Properties 3Q 2013 5,999
CITY OFFICE BAROMETER
AVERAGE CAPITAL VALUE RANGE
Note:
Average Capital/Rental Value Range: Indicative asking price for premium
residential properties on per sq.ft. basis.
1Q 2013 2Q 2013
Capital Value
Rental Value
New Project
Construction Pace
Note: Ongoing Price (P.S.F): Indicative asking price for premium residential properties
per sq.ft.
PUNE
In 1Q 2013, new residential projects were•
launched in locations like Baner-Balewadi,
Kondhwa, Kharadi-Hadapsar, Koregaon Park,
Wakad, NIBM and Taleagon. These new
launches were priced between INR 3,500-
6,000 per sq ft , with the exception of luxury
projects quoting INR 10,000 - 12,000 per sq
ft.
This quarter witnessed a slight slowdown•
in construction activity, further delaying
completion of projects.
Overall, capital prices in Pune remained•
stagnant in most micro-markets in comparison
with 4Q. However the 10-20% hike in
the ready-reckoner-rate resulted in price
adjustments in the range of 2-8% in areas
like Magarpatta-Hadapsar, Baner-Pashan,
Hinjewadi, Wakad, Warje, Pimpri-Chinchwad
and Chakan.
This quarter’s rental values remained fairly•
stable in almost all of the micro-markets in
Pune.
The State Government proposed the provision•
of funds in the Union Budget 2013-2014 for
two corridors of the metro rail project in Pune
and Pimpri-Chinchwad, between Vanaz and
Ramwadi, and between Nigdi and Swargate.
COLLIERS VIEW:• Pune’s residential market
continues to remain strong, led by the IT
industry’s housing demand. Luxury projects
offering modern amenities and retained green
areas is the latest demand trend. Being the
well-established residential hubs, Hadapsar
and Kharadi continue to be the preferred
locations, next to prime central areas,
followed by the Baner-Pashan stretch, due to
competitive pricing and their close proximity
to Hinjewadi. Northern areas of Chakan, like
Talegaon and Ravet are potential residential
hotspots for growth due tothe promotion
of SEZs and the planned Pune metro rail
project.
1,000
3,000
7,000
5,000
9,000
13,000
11,000
15,000
INRpersq.ft.
AVERAGE RENTAL VALUE
11,000
10,000
8,000
9,000
7,000
6,000
5,000
4,000
3,000
2,000
AVERAGE CAPITAL VALUE TRENDS
Micro Market Ongoing Price (P.S.F)
Kalyani Nagar/Viman
Nagar/Kharadi
5,000 - 12,000
Baner/Hinjewadi/Wakad/
Pashan
3,800 - 6,000
Kothrud/Bavdhan/Wajre 3,800 - 6,000
NIBM/Undri/Kondhwa 3,800 - 5,000
Pimpri/Chinchwad/Chakan 2,500 - 4,500
KalyaniNagar/Vi-
manNagar/Kharadi
Bhawanipur
Kalyani Nagar/Viman Nagar/
Kharadi Bhawanipur
Deccan/Camp/
BoatClub
Deccan/Camp
/Boat Club
Baner/Hinjewadi/
Wakad/Pashan
Baner/Hinjewadi/Wakad/Pashan
Magarpatta/Hadapsar
Magarpatta/
Hadapsar
NIBM/Undri/Kondhwa
NIBM/Undri/
Kondhwa
Kothrud/Bavdhan/
Wajre
Kothrud/ Bavdhan/ Wajre
Pimpri/Chinchwad/
Chakan
Pimpri/Chinchwad/
Chakan
30
25
20
15
10
5
0
1Q2009
3Q2009
1Q2010
3Q2010
1Q2011
3Q2011
3Q2012F
1Q2014F
1Q2013
3Q2012
1Q2012
Kalyani Nagar/Viman Nagar/Kharadi
Kothrud/Bavdhan/Wajre
NIBM/Undri/Kondhwa
Pimpri/Chinchwad/Chakan
Deccan/Camp/Boat Club/Central Pune
Magarpatta/Hadapsar
Baner/Hinjewadi/Wakad/Pashan
INRPersq.ft.INRpersq.ft.permonth
Note: * As mentioned by developer
** Base selling price as quoted by developer
INVESTMENT OPPORTUNITIES
11. Colliers International | p. 11
INDIA | may 2013 | residential | submarkets
Mumbai
The high-end residential real estate markets in Mumbai include Malabar Hill, Altamount Road, Carmichael Road, Napean Sea Road, Breach Candy,
Colaba, Cuffe Parade, Prabhadevi, Worli, Bandra, Khar, Santacruz, Juhu and Powai.
Delhi
The prime residential areas in Delhi are in the South region and comprise Vasant Vihar, Westend, Shanti Niketan, Anand Niketan and Central Delhi
locations. These areas enjoy proximity to embassies, the airport and central commercial areas - Connaught Place.
Gurgaon
The prime residential locations of Gurgaon include Golf Course Road, DLF Phase I, Sushant Lok and Sohna Road. The Delhi- Jaipur Highway (NH-8)
is also emerging as a preferred residential location owing to its proximity to the national capital.
NOIDA
NOIDA premium residential market is comprised of sectors 44, 50, 92, 61, 62, 63 , 28, 29, 30 and Taj Express Highway.
Chennai
The prime residential areas in Chennai include Thiruvanmiyur, Valmiki Nagar and Besant Nagar, R.A Puram, Mylapore and Adyar in South Chennai,
Nungambakkam, Chetpet, Poes Garden, Egmore, Alwarpet, T. Nagar in Central Chennai; and Anna Nagar, Kilpauk in North West Chennai.
Bengaluru (BANGALORE)
The residential market of Bengaluru comprises both apartments and independent residences. Currently, high-end residential developments are
mainly concentrated along the CBD, and Eastern and South precincts of the city. Recently, Northern Bengaluru has also witnessed a spree of realty
activity facilitated by the new International Airport at Devanhalli.
Kolkata
The prime residential areas in Kolkata include PA Shah Road, Tollygunge and Bhawanipur in South Kolkata, Alipore and Behala in South-west Kolkata,
Loudon Street and Ballygunge in Central Kolkata; and Salt Lake, EM Bypass and VIP Road in North Kolkata.
Pune
The prime residential areas in Pune include Kalyani Nagar, Viman Nagar, Boat Club Road, NIBM Road, Magarpatta, Hadapsar, Koregaon Park. Recently,
increased activities has been witnessed in Pimpri-Chinchwad, Baner-Pashan and Kondhwa.
Residential SUBMARKETS
CITY BAROMETERS
Increasing as compared to previous quarter
Decreasing as compared to previous quarter
Remained stable from previous quarter