residential property market overview feb 2012

Accelerating success.

Residential Property Market OverviewINDIA

QUARTERLY UPDATE | FEBRUARY | 2012

www.colliers.com

* SBI Home Loan Rate for Loan upto INR 50 Lakhs.** For amount below INR 1 Crore

ECONOMIC BAROMETER

RETuRN ON AlTERNATIvE INvEsTMENTs

Dec-10 Dec-11

REPO RATE 6.25% 8.50%

REVERSE REPO RATE 5.25% 7.50%

CRR 6.00% 6.00%

INFLATION 9.47% 7.47%

HOmE LOAN RATE* 8.00% 11.00%

Dec-10 Dec-11 YoY %

Change

GOLd 20,496 28,041 36.81%

SILVER 45,346 51,168 12.84%

FIxEd dEPOSIT

(= 1 yEAR)** 8.50% 9.25% 8.82%

EQUITy 20,389 15,836 -22.33%

REALTy INdEx 2,856 1,497 -47.57%

RESEARCH & FORECAST REPORTsYDNEY CENTRAl BusINEss DIsTRICT

INdIA RESIdENTIAL mARkETREsEARCh REpORT

4Q 2011 | THE KNOWLEDGE

Repo Rate Reverse Repo Rate Cash Reserve Ratio Wholesale Price Index

ECONOMIC INDICATORs

In P

erce

ntag

e

MACRO ECONOMIC OvERvIEW

As per the latest Reserve Bank of India (RBI) projections GdP growth rate was recorded at 6.9% •for 4Q 2011. The estimates by various agencies project the growth rate within a range of 7% to 8% for 2011-2012, suggesting a moderation in the growth process.

Provisional Wholesale Price Index as reported by ministry of Finance was 7.47% for december •2011. This quarter there was a slight decline in primary inflation due to the decrease food inflation which stood at -3.36%.

In 4Q 2011, RBI did not increase repo rates. It further stated that there will not likely be any •further increase to the policy rates, provided headline inflation moderates as is expected. The repo rate is currently at 8.5%.

The department of Industrial Policy and Promotion (dIPP) recorded FdI inflow for the period •April to October, 2011 in Housing & Real Estate at INR 2,130 crores; which is a 2/3rd reduction from the highs of the years 2008-09 and 2009-10. The Housing and Construction sector contribution to the total FdI has also reduced to 2.31% from to 7% in the previous year.

In 4Q 2011, Indian Rupee (INR) fell further by approximately 10% against the US dollar to close •at INRs 54.40 to 1.00 USd on 29th december 2011. The Rupee also weakened against the Euro dropping by approximately 5% to close the quarter at INRs 70.99 to 1.00 Euro.

Qualified Foreign Investor can now directly invest in the Indian Equity market. The investment •limit is to 5% and 10% for individual and QFIs respectively of their paid up capital of the company that they establish in India.

4.0

6.0

8.0

10.0

12.0

Jan

‘08

Feb

‘08

Jan

‘09

Feb

‘09

Jan

‘10

Feb

‘10

Jan

‘11

Feb

‘11

Apr

‘08

mar

‘08

mar

‘09

Apr

‘09

mar

‘10

Apr

‘10

mar

‘11

Apr

‘11

may

‘08

may

‘09

may

‘10

may

‘11

Jun

‘11

Jul ‘

08

Jun

‘08

Aug

‘08

Jul ‘

09

Jun

‘09

Aug

‘09

Jun

‘10

Jul ‘

10

Aug

‘10

Jul ‘

11

Aug

‘11

Sep‘

08

Oct

‘08

Sep‘

09O

ct‘0

9

Sep‘

10

Oct

‘10

Sep‘

11

Oct

‘11

Nov

‘11

dec

‘11

Nov

‘08

dec

‘08

Nov

‘09

dec

‘09

Nov

‘10

dec

‘10

2.0

0.0

(-2.0)

Source: Colliers International India Research

CApITAl vAluE TRENDs

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

3Q20

11

2Q20

11

1Q20

11

4Q20

10

3Q20

10

2Q20

08

1Q20

08

INR

per

sq ft

75,000

5,000

25,000

35,000

15,000

45,000

65,000

55,000

3Q20

08

malabar Hill, Altamount Road, Carmichael Road

Santacruz

khar

Prabhadevi

Colaba, Cuffe ParadeBandra

Andheri

Worli

Juhu

Breach Candy, Napeansea Road, Peddar Road

4Q20

11

Rebase to 100

2Q20

08

3Q20

08

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

08

1Q20

10

2Q20

10

3Q20

10

COllIERs REsIDEX 4Q 2011 - MuMBAI

50

60

70

100

90

80

120

150

140

130

110

COllIERs INTERNATIONAl | p. 3 p. 3 | COllIERs INTERNATIONAl

NEW pROJECTs

PROJECT NAmE LOCATION dEVELOPER NAmE TENTATIVE POSSESSION RATE (PER SQ.FT.)*

Aria Juhu Vile Parle development Parinee developers 4Q 2014 23,000

Green Acres malad East Nirman Relators 4Q 2016 8,500

Hill Crest Jogeshwari Vikhroli Link Road Hub Town 2Q 2014 9,500

Island City Center dadar East Bombay Realty 4Q 2016 37,500

Tripolis Goregaon West Ekta World 4Q 2016 10,500

MuMBAI

In 4Q 2011, various projects/phases of the •projects were completed in mumbai, including “kalpataru Aura” at Ghatkopar by kalpataru developers and “Lodha Bellissimo” by Lodha Group at mahalaxmi.

This quarter, the mumbai real estate market •witnessed the launch of several residential projects, such as “Hill Crest” by Hubtown Ltd., “Aria” by Parinee developers, “Island City Centre” by Bombay Realty, “Tripolis” by Ekta World and “Green Acres” by Nirman Relators. Lodha Group also launched its mix use development project called “New Cuffe Parade”, on its 23-acre land parcel in Wadala. This land was purchased in 2010 at approximately INR 4,500 crore.

The residential market remained subdued, •and fewer transactions were recorded during the quarter on account of an unstable global economy and rising interest. Capital values remained stable in almost all the micro markets except for a few locations such as Breach Candy, Napeansea Road, Peddar Road, Worli, Prabhadevi, Andheri and Powai where capital value values witnessed an increase in the range of 3 to 6% quarter on quarter.

The premium residential lease market •remained active at locations such as malabar Hill, Altamount Road, Carmichael Road, Breach Candy, Napeansea Road, Peddar Road, khar, Juhu and Powai. These locations observed an appreciation in rental values in the range of

1 % to 3% quarter on quarter.

The state government has decided to provide •an additional 0.33 Floor Space Index (FSI) in suburbs of mumbai. The FSI would be available to the developer on paying a premium. Currently, the state government allows an FSI of 1 in the suburbs and 1.33 in the island city.

CITY REsIDENTIAl BAROMETER

mUmBAI

3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | MUMBAI

4Q 2011 pREMIuM REsIDENTIAl AvERAgE CApITAl vAluE

Cola

ba, C

uffe

Para

de

INR

per

sq ft

mal

abar

Hill

, Alta

mou

nt

Road

, Car

mic

hael

Roa

d

Wor

li

Brea

ch C

andy

, Nap

eans

eaRo

ad, P

edda

r Ro

ad

Prab

hade

vi

Band

ra

Sant

acru

z

Andh

eri

Pow

ai

khar

Juhu

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

4Q 2011 pREMIuM REsIDENTIAl AvERAgE RENTAl vAluE

INR per Sq ft Per month

Prabhadevi

Colaba, Cuffe Parade

Breach Candy, Napeansea Rd.,

Peddar rd.

malabar Hill, Altamount Road, Carmichael Road

200

150

100

50

0

Powai

Andheri

Juhu

khar

Santacruz Worli

Bandra

Note: * As quoted by developer

p. 4 | COllIERs INTERNATIONAl

NEW pROJECTs


kings Court Greater kailash- II dLF 1Q 2015 36,000

Queens Court Greater kailash- II dLF 1Q 2015 26,000

Capital Greens Shivaji marg dLF 2Q 2015 14,000

Winter Hills dwarka morh Umang Realtech 4Q 2013 7,000

COllIERs INTERNATIONAl | p. 4

DElhI

during 4Q 2011, several redevelopment •residential projects were ready for possession in locations such as Anand Niketan, Vasant Vihar, Westend, defence Colony and malcha marg.

No new project was launched during 4Q •2011.

Capital values for premium residential •properties observed a minor appreciation in the range of 2% to 5% quarter on quarter across all the micro markets. This could be attributed to the limited premium supply and scope of development.

due to continuous demand from expatriates •and officials of mNC and Indian Corporate for prime residential properties, rental values recorded an increase in the range of 7 to 10% quarter on quarter across all the micro markets, except for a few location such as Prithviraj Road, Aurangzeb Road, where rates remained stable.

The delhi state cabinet has hiked the circle •rates for the second time this year in delhi. The circle rate hike was highest in category ‘A’ (Anand Niketan, Bhikaji Cama Place, Friends Colony, maharani Bagh, Nehru Place etc.) at 250% while in B (defence Colony, Greater kailash, Green Park, Hauz khas etc.), C (Civil Lines, East of kailash, kalkaji, Lajpat Nagar etc.) and d (Anand Vihar, dwarka, Janakpuri,karol Bagh etc.) category areas the circle rates increased by 100%. Earlier this year in February, the circle rates increased up to 100% in various categories.


3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | DELhI




dELHI

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

90,000

100,000

80,000

Anan

d Ni

keta

n,

Vasa

nt V

ihar

Panc

hash

ila, A

nand

lok,

Niti

Bagh

, SdA

Frie

nds

Colo

ny,

mah

aran

i Ba

gh

Shan

ti Ni

keta

n,

Wes

tend

Grea

ter

kaila

sh

I & II

, Sou

th

Exte

nsio

n

Golf

Link

s, J

or B

agh,

Su

nder

Nag

ar

Chan

akya

Pur

i

Prith

vira

j Roa

d,

Aura

ngze

b Ro

ad

INR

per

Sq F

t

10,000

0

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

1Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

1Q20

10

3Q20

08

4Q20

08

4Q20

09

2Q20

10

3Q20

10

4Q20

10

3Q20

11

1Q20

11

2Q20

11

Golf Links, Jor Bagh, Sunder Nagar

Shanti Niketan, Westend

Friends Colony, maharani BaghPanchashila, Anandlok, Niti Bagh, SdA

Greater kailash I & II, South Extension

Chanakya Puri

Prithviraj Road, Aurangzeb Road

Anand Niketan, Vasant Vihar

INR

per

Sq F

t

Golf Links, Jor Bagh, Sunder Nagar

Chanakya Puri

Prithviraj Road, Aurangzeb Road

Anand Niketan, Vasant Vihar

Greater kailash I

& II, South Extension

Friends Colony, maharani Bagh

Shanti Niketan, Westend

Panchashila, Anandlok, Niti Bagh, SdA

160 140120100806040200


4Q20

11

COllIERs REsIDEX 4Q 2011 - DElhI

Rebase to 100

50

60

70

80

90

100

110

120

140

150

130

1Q20

08

2Q20

08

3Q20

08

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10



Rebase to 100

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10

COllIERs REsIDEX 4Q 2011 - guRgAON

50

60

70

100

90

80

120

150

140

130

110


NEW pROJECTs


Chintels kokoon Sector 109 ATS 4Q 2014 4,350

Cosmos City Sector 103 ERA Landmarks 1Q 2015 3,700

diplomatic Residency Sector 111 Puri Construction 4Q 2014 6,000

International City Sector 109, 106, 108 Sobha developers Ltd. 4Q 2014 13,500

Raheja Revanta Sector 78 Raheja Group 1Q 2015 5,200

Splendo Sector 57 Splendor Group 4Q 2013 5,500



guRgAON

This quarter, several projects were launched •in Gurgaon, including “diplomatic Residency” by Puri Constructions, “Splendo” by Splendor Group, “International City” by Shobha developers and “kokoon” by ATS and Chintels. The Projects were priced in the range of INR 5,500 to 6,000 per sq ft and were launched in dwarka Express Way and Golf Course Road Extension.

Construction activities remained slow, and •none of the major projects or phases of the project were offered for possession during the quarter.

Capital Values for premium ready-to-move •in residential properties located along Golf Course Road, Sohna Road, Sushant Lok and NH8 registered an increase in the range of

4 to 10% quarter on quarter.

Similarly, rental values for premium residential •properties also registered an increase in the range of 3 to 10% in almost all the micro markets.

kotak Realty Fund invested INR 170 crore in •the “Astaire Gardens” project being developed by BPTP, located at sector-70A. The project is spread over 102.2 acres and is expected to be completed towards the end of 2015.

In order to streamline the procedure of approval •of building plans in licensed residential and industrial plotted colonies for which licensed is granted under the provision of Haryana development and Regulation of Urban Area Act, 1975, the department introduced self certification system to reduce the complex procedure of approval of building plans.


3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | gURgAON


GURGAON

Sohna Road & Ext

Golf Course Road

NH-8

Sushant LokdLF Phase I

60

50

40

30

20

10

0


4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

10

3Q20

10

18,000

16,000

14,000

2,000

0

4,000

8,000

6,000

10,000

12,000

3Q20

08

NH-8

Sushant Lok

dLF Phase I

Golf Course Road

Sohna Road & Ext

INR

per

sq ft

Golf

Cour

se R

oad

Sohn

a Ro

ad &

Ext

dLF

Phas

e I

Sush

ant L

ok

NH -

8

0

3,000

6,000

9,000

12,000

15,000

INR

per

sq ft



NOIDA

during 4Q 2011, no major under construction •projects/phases of the project witnessed completion.The construction activities had slowed down during the quarterdue to agitation from farmers on land issue in the new sectors allocated by NOIdA authority. The construction activities are expected to start picking up as the NOIdA authority has cleared most of the land issues by paying old dues.

The number of new projects launched has •reduced significantly in comparison to previous 3 quarters. A prime residential project launched in this quarter was “Supernova” by Supertech Ltd in Sector 94, INR 13,500 per sq ft well above the average market price range. The project is proposed supposed to be a high rise mixed use development with around 80 storeys.

Capital values witnessed an increase in the •range of 4 to 9% quarter-on-quarter in almost all the premium residential sectors such as Sector 28-30, 44, 50, 92, 93 and 61-62.

In 4Q 2011, rental values in NOIdA increased •in the range of 3 to 7% quarter-on-quarter, due to demand from mNCs and limited availabilities of premium properties.

In an attempt to avoid any further agitation •by NOIdA farmers on land acquisition issues, the NOIdA Authority released a list of 2,663 farmers in 35 villages who will get five per cent developed plots in the final phase. The list, according to the Authority, is the final one for all the villages where land was acquired after 1997.

CITY OFFICE BAROMETER

3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | NOIDA

NOIdA



0

2,000

4,000

6,000

8,000

10,000

Sect

or 2

8, 2

9, 3

0

Sect

or 9

2/93

Sect

or 6

1, 62

., 63

Sect

or 5

0

Sect

or 4

4

INR

per

Sq F

t

3Q20

09

2,000

3,000

4,000

5,000

6,000

7,000

9,000

10,000

8,000

1Q20

10

2Q20

10

3Q20

10

4Q20

09

1Q20

11

2Q20

11

3Q20

11

4Q20

10

Sector 61,62,63

Sector 28,29,30

Sector 44

Sector 92 / 93

Sector 50

INR

per

Sq F

t

Sector 50

Sector 44

Sector 28,29,30

Sector 92/93 Sector 61,62,63

25

20

15

10

5

0



4Q20

11

30

COllIERs REsIDEX 4Q 2011 - NOIDA

Rebase to 100

50

60

70

80

90

100

110

120

140

150

130

1Q20

08

2Q20

08

3Q20

08

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10

NEW pROJECTs


Arista Sector 168 Sun World 4Q 2014 3,500

Cleo County Sector 121 ABA Corp. 2Q 2015 3,300

kaamna Greens Sector 143 Sikka Group 3Q 2015 2,800

Supernova Sector 94 Supertech 1Q 2015 8,500

Wave mega City Centre Sector 32 Wave Infratech 4Q 2015 7,300



Rebase to 100

1Q20

08

2Q20

08

3Q20

08

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10

COllIERs REsIDEX 4Q 2011 - ChENNAI

50

60

70

100

90

80

120

150

140

130

110



3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | chENNAI


ChENNAI

A number of projects/phases of projects were •completed this quarter, including “Tulip“ by doshi Housing at kilpauk, “Orchid Springs” by Alliance Infrastructure at Padi, “kings Court” by Golden Homes and “Praveens” by Praveen Constructions at Anna Nagar, “Crest dusica” by Crest Homes at Alagaputhur and “Prapancha” by Catalyst Properties and “Boulevard” by Ceebros both located at Thoraipakkam.

The residential market remained active •during the quarter, and several projects were launched during the quarter. most of the projects were located in suburbs and were priced in the range of INR 2,800 to 7,000 per sq ft.

In 4Q 2011, rental values for premium •residential properties remained stable across all the micro markets. However, rental values witnessed slight increase especially in the mid-range housing segment.

Following the previous quarter trends, capital •values for high-end residential properties remained stagnant during the review period due to cautious investor sentiment.

The state government has approved a six-lane •expressway on a 344 km stretch between Chennai and Bengaluru, which would be funded through a public-private partnership (PPP). Real estate activities are expected to increase along the highway. The state government has also planned to set up a 311 acre satellite township at Thirumazhisi along this highway.


CHENNAI

Adyar

Anna Nagar

Nungambakkam

Boat Club

Siruseri/ kazipattur

Sholinganallur

Velachery

Alwarpet / R A Puram Beasant Nagar

T Nagar

75

60

45

30

15

0


3,000

0

6,000

9,000

12,000

18,000

21,000

15,000

3Q20

08

4Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

3Q20

11

4Q20

11

2Q20

11

1Q20

11

4Q20

10

3Q20

10

1Q20

08

Boat ClubBeasant Nagar

NugambakkamSiruseri/ kazipattur

Velachery

Sholinganallur

Alwarpet / R A Puram

Anna Nagar

T NagarAdyar

INR

per

sq ft

Boat

Clu

b

Nung

amba

kkam

Anna

Nag

ar

T Na

gar

Beas

ant N

agar

Adya

r

Shol

inga

nallu

r

Alw

arpe

t / R

A P

uram

Vela

cher

y

Siru

seri/

kaz

ipat

tur0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

INR

per

sq ft

NEW pROJECTs


Amara Ananta Palavakkam, ECR AR Group 1Q 2014 10,000

Boulevard Vandalur-kelambakkam road Vijayshanthi 4Q 2013 2,800

Four Seasons ECR marg Swarnabhoomi 3Q 2013 2,000

Serene Adinath Vandalur Covai Property Centre 4Q 2013 2,450

Thazham OmR Vasavi Housing 4Q 2013 3,750

Versailles Uthandi, ECR Casa Grande 4Q 2013 7,000



BENgAluRu

This quarter several projects/phases of •the projects were ready for possession in Bengaluru, including “Purva Highlands” located at kanakpura and “Purva Venezia” at yelahanka by Purvankara developers and “Victory Harmony” at RT Nagar by Victory Builders & developers.

In terms of new projects launched, the •Bengaluru market remained active during 4Q 2011. However, the number of residential projects launched by grade A developers has reduced significantly from the previous three quarters. Two of these new projects were launched in peripheral locations, devanahalli, yemalur ORR and kanakapura Road, and were priced in the range of INR 2,650 to 7,450 per sq ft.

The capital values for premium residential •properties increased in the range of 7 to 10% quarter on quarter in location like Central Bengaluru, Indiranagar and Cooke Town due to limited supply in these areas. Capital values in suburban and peripheral locations remained stable during the quarter.

Rental values for prime residential properties •remained stable in almost all the micro markets, barring Whitefield, where rentals witnessed an increase by 5% quarter on quarter due to increasing leasing activities in this area.

In 4Q 2011, development work for signal free •corridor between Sirsi circle to Agara Lake has been commenced. This is expected to improve the connectivity between the ORR (Sarjapur-marathahalli) and koramangala.


3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | BENgALURU


0

2,000

4,000

8,000

6,000

10,000

14,000

16,000

18,000

12,000

yela

hank

a

Whi

tefie

ld (A

ppts

)

kora

man

gala

Bann

ergh

atta

Ro

ad

Indi

rana

gar

Airp

ort R

oad

Pala

ce O

rcha

rd

Jaya

naga

r

Cook

e To

wn

INR

per

Sq F

t

Cent

ral

1Q20

08

2Q20

08

3Q20

08

INR

per

Sq F

t

02,000

4,000

6,000

8,000

10,000

14,000

12,000

16,000

18,000

2Q20

10

4Q20

09

1Q20

10

4Q20

08

1Q20

09

2Q20

09

3Q20

09

3Q20

10

4Q20

10

1Q20

11

2Q20

11

4Q20

11

3Q20

11

Central

yelahanka

koramangala

Indiranagar

Cooke Town Jayanagar

Bannerghatta Road

Palace Orchard

Airport Road

Whitefield



Palace Orchard

Jayanagar

Cooke Town

Central

yelahanka

Whitefield (Appts)

koramangala

Bannerghatta Road Airport Road

Indiranagar

70

55

40

25

10

-5


BENGALURU

COllIERs REsIDEX 4Q 2011 - BENgAluRu

Rebase to 100

50

60

70

80

90

100

110

120

140

150

130

1Q20

08

2Q20

08

3Q20

08

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10

NEW pROJECTs


Brigade Orchids devanahalli Brigade Group 4Q 2013 6,000

Century Linea kanakapura Road Century Group 4Q 2014 4,200

Embassy Prispine ORR Embassy Group 4Q 2014 5,600

Rohan Jhorka Phase II yemalur Rohan Builders 4Q 2013 3,850

Skyline Exantus kanakapura Road Skyline Group 4Q 2014 3,250

Tata Promonte Banashankari TATA Housing 4Q 2013 7,450


Rebase to 100

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10

COllIERs REsIDEX 4Q 2011 - KOlKATA

50

60

70

100

90

80

120

150

140

130

110

NEW pROJECTs


Emami City Nagerbazar Emami Realty 1Q 2015 4,100

Greentech City Rajarhat Vedic Realty Pvt Ltd &

diamond Group1Q 2015 2,200

Omni Lakeview RajpurBengal Omni Tech

Nirman Ltd1Q 2015 2,200

Rameswara Waterview Rajarhat Rameswara Group 3Q 2014 2,300

Rishi meridian Rajarhat Rishi Group 4Q 2014 2,500

Siddha Sphere Rajarhat Siddha Group 4Q 2014 2,700



KOlKATA

Projects/phases of the projects that were •ready for possession in kolkata this quarter were “Purti Colours” by Purti Realty, “diamond Residency” by Super diamond Nirman Pvt. Ltd both located at Behala, “Sankalpa Phase I” by WBIdFC, “Greenfield Ambition” by Bengal Greenfield and “Rosedale” by Rosedale developers, all three located at New Town and “Ekta Oleander” by Base developer at Beliaghata, and ‘Purti Flower Phase II’ by Purti Realty at mahestala.

New projects launched this quarter were •primarily located at peripheral locations such as Rajarhat, Rajpur and Nager Bazar and were priced between INR 2,200 to 4,100 per sq ft.

demand remained positive and capital values •across all the micro markets witnessed minor appreciation in the range of 1 to 3% quarter on quarter. Capital values in Rajarhat recorded an average increase of approximately 8% quarter on quarter. This increase can be attributed to the rising demand in this area due to availability of quality apartment in the affordable price range.

Rental values in almost all the micro markets •witnessed an increase in the range of 3% to 9% over the quarter except in areas like Behela, Em Bypass and VIP Road due to large availability.

The government has approved Infosys •proposal to establish its second campus at Rajarhat, and there is also a financial hub being planned in the same region. Both of these are expected to generate demand for residential real estate in the market inthe near future.


3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | KOLKATA




kOLkATA

Alipore

Tollygunge

PA Shah Road

Bhawanipur

New Town Rajarhat

VIP Road

Em Bypass

Ballygunge

Salt Lake Behela

Loudon Street

35

30

25

15

10

5

0


3Q20

08

4Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

1Q20

10

2Q20

10

2Q20

10

3Q20

1

3Q20

1

4Q20

09

2Q20

11

3Q20

11

4Q20

11

1Q20

10

4Q20

10

2,000

0

4,000

8,000

6,000

10,000

12,000

1Q20

08

Bhawanipur

Em BypassBallygunge Loudon Road

Behela

Alipore Tollygunge

BhawanipurNew Town - Rajarhat

VIP RoadSalt Lake

INR

per

sq ft

Bhaw

anip

ur

PA S

hah

Road

Tolly

gung

e

Loud

on S

tree

t

Behe

la

Alip

ore

Em B

ypas

s

Bally

gung

e

Salt

Lake

VIP

Road

New

Tow

n Ra

jarh

at

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

INR

per

sq ft


magarpatta/Hadapsar

deccan/Camp/Boat Club

kalyani Nagar/Viman Nagar/kharadi

Pimpri/Chinchwad/Chakan

NIBm/Undri/kondhwa

kothrud/Bavdhan/Wajre Baner/Hinjewadi/Wakad/Pashan

30

25

15

10

5

0


puNE

•The premium residential market of Puneinclude deccan, Camp, Boat Club Road, kalyani Nagar and central Pune. Locations like Hinjewadi, magarpatta, Hadapsar, Baner, Viman Nagar and NIBm have emerged as ideal destination for residence consist of high end and mid range apartments. Upcoming location in peripheral areas includes kharadi, kothrud, khodhwa, Pimpri Chinchwad, Undri, Wanowari and Pashan.

•During 4Q 2011, various premium projects/phase of projects were completed, including “Rohan Ishita” by Rohan Builders At mundhwa, “kapil Tranquil Greens” at Baner and “kapil Aasmat” at Pashan by Shree Bal developers, and mind Space in Wakad by Saffron Realty. These projects were priced in the range of INR 5,000 to INR 8,000 per sq ft.

•In 4Q 2011, several premium projects werelaunched in locations like Baner, Viman Nagar, Wakad, Fatima Nagar, mhatre Bridge, Aundh, NIBm Road, Hinjewadi and Pimpri-Chinchwad, projects were priced in the range of INR 5,000 to 8,000 per sq. ft.

•CapitalValuesremainedstableinalmostallthemicro markets except in kalyani Nagar, Viman Nagar, Baner, Hinjewadi and Wakad locations, where values increased from 1 to 2%. •During 4Q 2011, rental values remainedstable in almost all the micro markets in Pune, except for locations such as Baner, Hinjewadi, Wakad, Pashan and Balewadi, where an average increase of 4% quarter on quarter was observed. This was primarily due to consistent demand for rented accommodation from the working population in nearby commercial hubs.


3Q 2011 4Q 2011

RENTAl vAluE

CApITAl vAluE

THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | PUNE




PUNE

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

3Q20

10

2Q20

11

1Q20

11

3Q20

11

4Q20

11

4Q20

10

3,000

2,000

4,000

7,000

8,000

9,000

6,000

5,000

10,000

kalyani Nagar/Viman Nagar/kharadi deccan/Camp/Boat Club/Central Pune

magarpatta/Hadpsar Baner/Hinjewadi/Wakad/Pashan/Balewadi

kothrud/Bavdhan/Wajre NIBm/Undri/kondhwaPimpri/Chinchwad/Chakan/Talegaon

INR

per

sq ft

kaly

ani N

agar

/Vi-

man

Nag

ar/k

hara

di

Bhaw

anip

ur

decc

an/C

amp/

Boat

Clu

b

Bane

r/H

inje

wad

i/W

akad

/Pas

han

mag

arpa

tta/H

adap

sar

NIBm

/Und

ri/ko

ndhw

a

koth

rud/

Bavd

han/

Waj

re

Pim

pri/C

hinc

hwad

/Ch

akan

0

2,000

4,000

6,000

8,000

10,000

INR

per

sq ft

COllIERs REsIDEX 4Q 2011 - puNE

Rebase to 100

50

60

70

80

90

100

110

120

140

150

130

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

11

4Q20

09

1Q20

10

2Q20

10

3Q20

10


NEW pROJECTs


43 Privet drive Balewadi Bhandari Associates 4Q 2013 6,000

Camelot Royale Viman Nagar mainland Buildcon 3Q 2014 5,500

Empire Estate Phase-II ChinchwadSukhwani-Agrawal

Group4Q 2013 4,800

Galaxy mhatre Bridge kool Homes 4Q 2013 15,000

monte Cristo Baner manav Group 4Q 2013 7,500


THE KNOWLEDGE | 4Q 2011 | REsIDENTIAL | sUBMARKETs

MumbaiThe 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.

DelhiThe 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.

GurgaonThe 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.

NOIDANOIdA premium residential market is comprised of sectors 44, 50, 92, 61, 62, 63 , 28, 29, 30 and Taj Express Highway.

ChennaiThe 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.

BengaluruThe 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.

KolkataThe 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

COllIERs REsIDEX

Increasing as compared to previous quarter

decreasing as compared to previous quarter

Remained stable from previous quarter

Colliers Residex represents the average secondary sale prices of high end properties. Residex has been derived by rebasing the capital values as 100 as on 1Q 2008.

Colliers International (India) provides property services to property Investors and Occupiers. We deliver customised service solutions utilising local and global knowledge in partnership with our clients via our property Investment and Occupier service lines. These service lines include - Office Services, Facility management, Project management, Residential Services, Investment Services and Valuation & Advisory Services.

www.colliers.com/india

For national residential services related queries please contact:

Poonam mahtani, National director Residential Services & knowledge Systems [email protected]: 91 22 4050 4551

Mumbai : Prabhu Raghavendra, Office director [email protected] 31/A, 3rd floor, Film Center, 68, Tardeo Road, mumbai, India - 400 034. Tel : 91 22 4050 4500, fax : 91 22 2351 4272

Delhi NCR : Ajay Rakheja, Office director [email protected]

New delhi : Statesman House, 4th Floor, Barakhamba Road, Connaught Place, New delhi, India - 110 001 Tel : 91 11 4360 7500 - 23, fax : 91 11 2335 6624

Gurgaon : Technopolis Building, 1st floor, dLF Golf Course main Road, Sector 54, Gurgaon, India - 122 002 Tel : 91 124 437 5807, fax : 91 124 437 5806

Bengaluru : Goutam Chakraborthy, Office director [email protected] Prestige Garnet, Level 2, Unit No.201/202, 36 Ulsoor Road, Bengaluru, India - 560 042 Tel : 91 80 4079 5500, fax : 91 80 4112 3131

Pune : Suresh Castellino, Office director [email protected] Hotel Le meridian, 101, R.B.m. Road, Pune, India - 411 001 Tel : 91 20 4120 6438, fax : 91 20 4120 6434

Chennai : kaushik Reddy, Office director [email protected] Heavitree Complex, Unit 1C, 1st floor, 23, Spurtank Road, Chetpet, Chennai, India - 600 031 Tel : 91 44 2836 1064, fax : 91 44 2836 1377

Kolkata : Soumya mukherjee , Office director [email protected] Infinity Business Centre, Infinity Benchmark, Room No 13, Level 18, Plot G - 1, Block EP & GP, Salt Lake Sector V, kolkata - 700 091 West Bengal, India Tel : 91 33 2357 6501 , fax : 91 33 2357 6502

This book is printed on 100% Recyclable paper

THE KNOWLEDGE | 4Q 2011


AUTHORS

Amit Oberoi MRICSNational director, Valuation & Advisory; ResearchEmail: [email protected]

Surabhi Arora MRICSAssociate director, ResearchEmail: [email protected]

Sachin SharmaAssistant manager, ResearchEmail: [email protected]

Heliana ManoAssistant manager, Research Email: [email protected]

For general queries and feedback :[email protected] Tel: 91 124 456 7580

This report and other research materials may be found on our website at www.colliers.com/India. Questions related to information herein should be directed to the Research department at the number indicated above. This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

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