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Residential Snapshot Q4 2016Ahmedabad
MARKETBEAT
www.cushmanwakefield.com
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP
was up from 7.1% in the preceding quarter. In October, the
Consumer Price Index (CPI), a key price indicator of the Reserve
Bank of India (RBI) for policy purposes, was seen at 4.2% -
slumping to a 14-month low – on the back of lower food inflation.
The stable inflation rate had raised hopes of a rate cut in the
benchmark interbank lending rate by the RBI in December, but
this did not materialize given a slowdown in overall economic
activity post the implementation of a currency demonetization
exercise by the Indian government. However, the demonetization
has resulted in excess liquidity with banks, prompting several
banks to reduce their term-deposit rates. The banks may pass on
the reduced cost of funds in the form of cheaper home loan rates
to customers over the next few months. Further, demonetization
has increased expectations of a price cut in the secondary and
investor-driven markets. Following the rationalization, a pick-up in
residential sales is anticipated in the second half of 2017.
Market OverviewUnabated launch activity; focus on West Peripheral
submarket. Ahmedabad witnessed nearly 2,700 unit launches
during the fourth quarter of 2016, registering a mere 1% decline q-
o-q. While launch activity continued at similar levels, average
number of units per project increased from 253 in the previous
quarter to 343 in the current quarter, indicating a trend of
launching large-sized projects. Majority (43%) of the quarterly unit
launches were spread across locations such as Bopal and Shela
in West Peripheral submarket, which continued to attract
developers interest due to steady demand driven by well
developed physical and social infrastructure.
Affordable segment dominated. Affordable segment formed
nearly two-third of the quarterly unit launches, nearly 80% of
which were concentrated in Ranip (North submarket) and Odhav
(East submarket) due to land availability at relatively lower prices.
Capital and rental values remained stable. Both capital and
rental values maintained status-quo across all submarkets.
OutlookLaunch activity likely to decline. The number of unit launches is
likely to be subdued in the upcoming quarter as developers are
likely to adopt a wait and watch strategy, given the existing high
unsold inventory levels and the impending enforcement of RERA.
<CITY> OFFICERENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)
% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Central 20,000-100,000 0% 0%
West 18,000-100,000 0% 0%
Mid Segment
Central 7,000-25,000 0% 0%
North 5,000-12,000 0% 0%
South 4,500-15,000 0% 0%
West 8,000-30,000 0% 0%
West Peripheral 8,000-30,000 0% 0%
East 4,000-12,000 0% 0%
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/sf)
% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Central 5,500-8,000 0% 0%
West 5,500-8,000 0% 0%
Mid Segment
Central 4,500-6,500 0% 0%
North 2,700-4,500 0% 0%
South 1,900-5,000 0% 0%
West 3,500-6,500 0% 0%
West Peripheral 2,800-5,500 0% 0%
East 1,800-4,000 0% 0%
Increase DecreaseStable
Residential Snapshot Q4 2016Ahmedabad
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Ashray 10 Ranip Keval Vision Buildcon 790 2,057
Sayaji Samruddhi Odhav Sayaji Real Estate 646 1,877
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Aaryan Gloria Bopal Aaryan Builders 560 Q1 2017
Ratnaakar Beaumonde Vastrapur Nishant Construction 55 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number Of Units Unit Size (SF)
Silver Casa
Indraprastha Kadamb
Thaltej
Prahladnagar
Avirat Group
Deep Group
176
42
1,180
3,000
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges,
etc.
The above values for high-end segment are for units typically of 1,600-3,000 sf
The above values for mid segment are for units typically of 900-1,800 sf
KEY TO SUBMARKETS
High-end Segment
Central: C.G. Road, Ashram Road, Navrangpura, Gulbai Tekda
West: Vastrapur, Satellite, Thaltej, Prahladnagar
Mid Segment
Central: C.G. Road, Ashram Road, Navrangpura, Gulbai Tekda
North: Ram Nagar, Sabarmati, Motera, Chandlodia, Ranip, Chandkheda, Gota, Vaishnodevi
South: Maninagar, Narol, Vatwa, Ghodasar
West: Vastrapur, Satellite, Thaltej, Prahladnagar, Makarba, Vejalpur
West Peripheral: Bopal, South Bopal, Ambli, Ghuma
East: Naroda, Nikol, Hansol, Odhav, Vastral
Residential Snapshot Q4 2016BENGALURU, INDIA
MARKETBEAT
www.cushmanwakefield.com
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/Sf)% Change From Short Term
Outlook3 Mth Ago 1 Yr Ago
Central 18,000-30,000 0% 0%
South 7,000-10,500 0% 0%
Off Central 9,000-12,000 0% 11%
East 6,500-10,000 0% 0%
North 7,000-11.000 0% 0%
North-West 8,000-11,000 0% 0%
Mid Segment
Central 9,500-13,000 0% 0%
East 4,300-5,700 0% 0%
South-east 4,500-6,500 0% 0%
North 4,500-6,000 0% 11%
South 4,500-6,500 0% 0%
Off Central-I 7,000-10,000 0% 0%
Off Central-II 6,500-8,500 0% 0%
North-west 6,000-6,750 0% 0%
Far South 3,750-4,500 0% 0%
West 4,000-5,000 0% 13%
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Central 120,000-350,000 0% 0%
South 60,000-120,000 0% -14%
Off Central 60,000-150,000 0% -14%
East 70,000-300,000 0% -18%
North 60,000-150,000 0% -5%
North-West 50,000-100,000 0% 0%
Mid Segment
Central 70,000-100,000 0% 0%
East 25,000-40,000 0% 0%
South-east 25,000-45,000 0% 0%
North 20,000-35,000 0% 0%
South 25,000-40,000 0% 0%
Off Central-I 40,000-70,000 0% 0%
Off Central-II 30,000-50,000 0% 0%
North-west 25,000-35,000 0% 0%
Far South 20,000-30,000 0% 0%
West 20,000-30,000 0% 25%
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP was
up from 7.1% in the preceding quarter. In October, the Consumer
Price Index (CPI), a key price indicator of the Reserve Bank of India
(RBI) for policy purposes, was seen at 4.2% - slumping to a 14-
month low – on the back of lower food inflation. The stable inflation
rate had raised hopes of a rate cut in the benchmark interbank
lending rate by the RBI in December, but this did not materialize
given a slowdown in overall economic activity post the
implementation of a currency demonetization exercise by the Indian
government. However, the demonetization has resulted in excess
liquidity with banks, prompting several banks to reduce their term-
deposit rates. The banks may pass on the reduced cost of funds in
the form of cheaper home loan rates to customers over the next few
months. Further, demonetization has increased expectations of a
price cut in the secondary and investor-driven markets. Following the
rationalization, a pick-up in residential sales is anticipated in the
second half of 2017.
Market OverviewLaunches continued to slide. New launches dropped by a
significant 70% on a sequential basis and noted at 1,400 units during
the quarter. Nearly 45% of the unit launches were witnessed in the
East submarket (mainly concentrated in Whitefield and KR Puram)
followed by North. Further, about 55% of the unit launches were
seen in the affordable and mid segment during the quarter.
Quoted capital and rental values remained steady. Rental values
maintained status quo during this quarter across submarkets and
within segments owing to steady demand-supply scenario.
Meanwhile, quoted capital values remained stable from the previous
quarter as transaction activity slowed down drastically in the wake of
demonetization.
OutlookNew unit launches are likely to be limited. New launches are
expected to be lower in the upcoming quarter as developers focus
on completing existing under-construction projects and await a pick-
up in sales.
While off-take of units are likely to be marginally hit on account of
demonetisation, rental and capital values are expected to remain
largely range-bound in the near term.
Increase DecreaseStable
Residential Snapshot Q4 2016BENGALURU, INDIA
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
KEY TO SUBMARKETS
High-end Segment
Central: Lavelle Road, Palace Cross Road, Off Cunningham Road, Ulsoor Road, Richmond Road, Sankeys Road
South: Koramangala, Bannerghatta Road, JP Nagar, Banashankari
Off Central: Frazer town, Benson Town, Richards Town, Dollars Colony
East: Whitefield, Old Airport Road
North: Hebbal, Jakkur, Devanahalli
North-west: Malleshwaram, Rajajinagar, Yeshwantpur
Mid Segment
Central: Brunton Road, Artillery Road, Ali Askar Road, Cunningham Road
East: Marathahalli, Whitefield, Old Airport Road, Old Madras Road, Budigere Cross
South-east: Sarjapur Road, Outer Ring Road (Marathahalli- Sarjapur), HSR Layout, Hosur Road
South: Jayanagar, J P Nagar, Kanakapura Road, Bannerghatta Road, BTM Layout, Banashankari
North: Hebbal, Bellary Road, Yelahanka, Doddaballapur Road, Hennur Road, Thanisandara Road
Off Central-I: Vasanth Nagar, Richmond Town, Indiranagar
Off Central-II: Cox Town, Frazer Town, Benson Town, etc.
North-west: Malleshwaram, Rajajinagar, Tumkur Road
Far South: Electronic City
West: Mysore Road, Uttarahalli Main Road, Magadi Road
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Skav Ohana K R Puram Skav Developers 285 4,299
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Samruddhi Rhythm Hennur Road Samruddhi Group 200 Q4 2017
Sunrise Park Electronic City Prestige Group 1,900 Q2 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number of Units Unit Size (SF)
Prestige Tranquility Budigere Cross Prestige Group 2,368 693 – 1,814
Sobha Forest View Kanakpura Road Sobha Developers 890 1,876 – 3,241
Residential Snapshot Q4 2016CHENNAI
MARKETBEAT
www.cushmanwakefield.com
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/Sf)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Central 23,000-32,000 0% 0%
Off Central-I 16,000-22,000 0% 0%
Besant Nagar 13,500-15,000 0% 0%
Kotturpuram 14,000-20,000 0% 0%
Nungambakkam 14,000-24,000 0% -3%
Anna Nagar 12,000-15,500 0% -5%
Kilpauk 12,000-16,000 0% 0%
East Coast Road 7,500-9,500 0% 3%
Mid Segment
Off Central-I 12,000-16,000 0% 4%
Off Central-II 10,000-17,000 0% 0%
Velachery 6,000-9,500 0% 0%
Mogappair 5,000-8,000 0% 0%
GST 3,200-5,000 0% 0%
Porur 4,000-6,500 0% 0%
Suburban (North) 3,000-5,800 0% -5%
Suburban (South) 3,500-7,100 0% 18%
Rajiv Gandhi Salai-I 5,000-7,000 0% 0%
Rajiv Gandhi Salai-II 3,500-5,000 0% 0%
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Central 125,000-250,000 0% -7%
Off Central-I 90,000-130,000 0% -8%
Besant Nagar 90,000-150,000 0% -4%
Nungambakkam 100,000-200,000 0% 0%
Anna Nagar 75,000-100,000 0% 0%
Kilpauk 75,000-100,000 0% 0%
East Coast Road 100,000-250,000 0% -13%
Mid Segment
Off Central-I 45,000-80,000 0% 0%
Off Central-II 30,000-50,000 0% 0%
Nungambakkam 50,000-75,000 0% 0%
Anna Nagar 30,000-55,000 0% 0%
Velachery 30,000-55,000 13% 13%
Rajiv Gandhi Salai-I 22,000-32,000 0% 0%
Rajiv Gandhi Salai-II 18,000-25,000 0% 0%
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP
was up from 7.1% in the preceding quarter. In October, the
Consumer Price Index (CPI), a key price indicator of the Reserve
Bank of India (RBI) for policy purposes, was seen at 4.2% -
slumping to a 14-month low – on the back of lower food inflation.
The stable inflation rate had raised hopes of a rate cut in the
benchmark interbank lending rate by the RBI in December, but this
did not materialize given a slowdown in overall economic activity
post the implementation of a currency demonetization exercise by
the Indian government. However, the demonetization has resulted
in excess liquidity with banks, prompting several banks to reduce
their term-deposit rates. The banks may pass on the reduced cost
of funds in the form of cheaper home loan rates to customers over
the next few months. Further, demonetization has increased
expectations of a price cut in the secondary and investor-driven
markets. Following the rationalization, a pick-up in residential sales
is anticipated in the second half of 2017.
Market OverviewNew launches declined significantly. New unit launches during
the fourth quarter witnessed a 67% decline from the previous
quarter and stood at about 800 units. This decline in new launches
is largely due to the subdued buying sentiment prevailing in the
markets, which has resulted in increasing the unsold inventory in
existing projects Mid segment constituted the majority share at
87% of the total unit launches, an increase of 32 percentage points
from the previous quarter. High-end segment accounted for 12%
whilst no projects were launched in the affordable segment. The
micro-markets of Kolathur and Ambattur, and Tambaram (GST
Road) witnessed majority of the new launches in the mid segment.
It is pertinent to note that developers launched units of only 2 BHK
configuration in the mid segment during this quarter.
Rental and capital values remained stable in most
submarkets. Rental values remained stable in most of the
submarkets except Velachery, which witnessed a 13% increase in
the mid segment over the previous quarter. Capital values
maintained status quo across all submarkets in both mid and high-
end segments.
OutlookLaunches expected to remain tepid. With the Real Estate
Regulation Act expected to come into effect in 2017, developers
are likely to increase focus on completing existing projects. This is
expected to limit new unit launches in the upcoming quarter. Rental
and capital values are expected to remain stable in most
submarkets in the next quarter due to ample availability of
properties and moderate demand.
Increase DecreaseStable
Residential Snapshot Q4 2016CHENNAI
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Ferns Tambaram Casa Grande 288 3,250 - 3,350
Lemongraz Ambattur Ramky WavooDevelopers
129 3,899
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Sidharth Upscale Porur Sidharth Housing 388 Q1 2017
Ruby Landmark Vandalur Ruby Builders 298 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number of Units Unit Size (SF)
Mandarin Thoraipakkam Radiance Realty 360 1,575 – 2,375
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
KEY TO SUBMARKETS
Central: Boat Club, Poes Garden, Venus Colony, and Kasturi Rangan Road
Off Central-I: R.A. Puram, Abhiramapuram, Alwarpet and Adyar
Off Central-II: T.Nagar and Mylapore
Suburban (North): Madhavaram, Moolakadai, Perambur, Kolathur, Tondiarpet, Korukkupet, Tiruvottiyur, Periyar Nagar and Thiruvika Nagar
Suburban (South): Alandur, Ekkatuthangal, Adambakkam, Nanganallur, Medavakkam, Perumbakkam, Pallavaram, 200 ft. Road, Vandalur-Kelambakkam Road
Rajiv Gandhi Salai-1: Till Sholinganallur
Rajiv Gandhi Salai-II: After Sholinganallur
Residential Snapshot Q4 2016DELHI-NCR, INDIA
MARKETBEAT
www.cushmanwakefield.com
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (Inr/Sf)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
South-west 38,000-53,000 0% -3%
South-east 24,000-35,000 0% -4%
South-central 25,700-43,000 0% -1%
Central 60,000-90,000 0% 0%
Gurgaon Luxury 19,500-26,000 0% 0%
Gurgaon High-end 11,000-16,500 0% 0%
Noida 7,500-9,000 0% 0%
Mid Segment
South-east 20,900-25,700 0% 0%
South-central 23,800-33,300 0% 0%
Gurgaon 8,000-10,000 0% 0%
Noida 4,500-6,500 0% -4%
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (Inr/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
South-west 225,000-425,000 0% -13%
South-east 90,000-225,000 0% -17%
South-central 150,000-275,000 0% -11%
Central 250,000-550,000 0% -3%
Gurgaon Luxury 200,000-275,000 0% -10%
Gurgaon High-end 65,000-175,000 0% -11%
Noida 50,000-100,000 0% 0%
Mid Segment
South-east 85,000-160,000 0% -6%
South-central 90,000-170,000 0% -5%
Gurgaon 40,000-90,000 0% 0%
Noida 25,000-45,000 0% 0%
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP was
up from 7.1% in the preceding quarter. In October, the Consumer
Price Index (CPI), a key price indicator of the Reserve Bank of India
(RBI) for policy purposes, was seen at 4.2% - slumping to a 14-
month low – on the back of lower food inflation. The stable inflation
rate had raised hopes of a rate cut in the benchmark interbank
lending rate by the RBI in December, but this did not materialize
given a slowdown in overall economic activity post the
implementation of a currency demonetization exercise by the Indian
government. However, the demonetization has resulted in excess
liquidity with banks, prompting several banks to reduce their term-
deposit rates. The banks may pass on the reduced cost of funds in
the form of cheaper home loan rates to customers over the next few
months. Further, demonetization has increased expectations of a
price cut in the secondary and investor-driven markets. Following
the rationalization, a pick-up in residential sales is anticipated in the
second half of 2017.
Market OverviewNew launch activity improves marginally. While new unit
launches improved by 13% to 2,000 units on a sequential basis, it
continues to be significantly lower than the average quarterly
launches in the past 3 years. Gurgaon constituted 54% of the unit
launches during the quarter, led by a large project in Dwarka
Expressway. Within Noida, the micro-markets of sector 113, Noida
Extension and Greater Noida witnessed majority of the new
launches. Affordable segment accounted for the majority share
(75%) of new launches during the quarter; the balance was
contributed by high-end segment.
Stable capital and rental values. Capital values maintained status
quo in both mid and high-end segments across all submarkets
during the quarter. Rental values also remained unchanged during
the quarter owing to steady demand.
OutlookNew launches to remain tepid. A high level of unsold inventory in
the market is expected to slowdown launch activity. The recent
currency demonetization is expected to further hit sales velocity;
capital and rental values will largely remain range-bound in the next
quarter.
Increase DecreaseStable
Residential Snapshot Q4 2016DELHI-NCR, INDIA
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Golf Link Villas - Crest Greater Noida Godrej Properties 296 4,849 – 5,499
Conac Noida Airwil 200 7,700
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Capital Greens Ph-2 Delhi DLF 1,248 Q1 2017
Diplomatic Greens Ph-1 Gurgaon Puri Construction 300 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number of Units Unit Size (SF)
Paras Seasons Noida Paras Buildtech 300 650 – 2,100
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges,
etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
KEY TO SUBMARKETS
High-end Segment
South-west: Shanti Niketan, Westend, Anand Niketan, Vasant Vihar, etc.
South-east: Friends Colony East, Friends Colony West, Maharani Bagh, Greater Kailash – I, Greater Kailash – II, etc.
South-central: Defence Colony, Anand Lok, Niti Bagh, Gulmohar Park, Hauz Khas Enclave, Safdarjung Development Area, Mayfair Gardens, Panchsheel Park, Soami
Nagar, Sarvaodaya Enclave, etc.
Central: Jorbagh, Golf Links, Amrita Shergil Marg, Aurangzeb Road, Prithviraj Road, Sikandara Road, Tilak Marg, Ferozshah Road, Mann Singh Road, Sunder Nagar,
Nizamuddin, Tees January Marg, Chanakyapuri, etc.
Gurgaon-Luxury: Golf Course Road
Gurgaon-High end: Golf Course Road, Mehrauli-Gurgaon Road, Golf Course Extension Road, Sohna Road, Central Gurgaon and Dwarka Expressway
Noida: Sectors 34-37, 39-41, 44, 50, 51, 92, 93, 96-98, 128 and 133
Mid Segment
South-east: New Friends Colony, Kalindi Colony, Ishwar Nagar, Sukhdev Vihar, Kailash Colony, Pamposh Enclave, etc.
South-central: Uday Park, Green Park, Saket, Asiad Village, Geetanjali Enclave, Safdarjung Enclave, Sarvapriya Vihar, Panchsheel Enclave, Navjeevan Vihar, etc.
Gurgaon: Sohna Road (Sectors 38, 47-49), Southern Peripheral Road, New Gurgaon, Dwarka and Sohna
Noida: Sectors 50, 74-79, 82, 83, 110, 112, 115-121, 134, 135, 137, 143, 150, 151 and 168), Greater Noida and Yamuna Expressway
Road
Residential Snapshot Q4 2016HYDERABAD
MARKETBEAT
www.cushmanwakefield.com
Miyapur, Nizampet 9,000-17,500 0% 0%
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/Sf)% Change From Short Term
Outlook3 Mth
Ago
1 Yr
Ago
Banjara Hills 8,000-11,000 0% 12%
Jubilee Hills 8,000-11,000 0% 12%
Himayathnagar 4,500-5,500 0% 0%
West & East
Marredpally4,000-5,500 0% 0%
Begumpet, Somajiguda 4,500-6,500 0% 0%
Madhapur, Gachibowli 4,500-6,500 0% 0%
Kukatpally 4,000-6,000 0% 0%
Kompally 3,200-4,200 0% 0%
Mid Segment
Banjara Hills 4,000-6,000 0% 0%
Jubilee Hills 4,000-5,500 0% 0%
Himayathnagar 3,500-4,500 0% 7%
West & East Marredpally 3,500-4,250 0% 11%
Begumpet, Somajiguda 3,500-4,500 0% 4%
Madhapur, Gachibowli 3,750-5,000 0% 0%
Kukatpally 3,500-4,300 0% 7%
Miyapur, Nizampet 3,000-3,750 0% 2%
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr
Ago
Banjara Hills 58,000-150,000 0% 0%
Jubilee Hills 57,000-150,000 0% 0%
Himayathnagar 20,000-36,000 0% 4%
West & East Marredpally 20,000-33,000 0% 0%
Begumpet, Somajiguda 27,000-45,000 0% 0%
Madhapur, Gachibowli 30,000-70,000 0% 0%
Kukatpally 20,000-39,000 0% 0%
Mid Segment
Banjara Hills 22,000-30,000 0% 4%
Jubilee Hills 23,000-30,000 0% 4%
Himayathnagar 13,500-16,000 0% 2%
West & East Marredpally 13,000-15,500 0% 0%
Begumpet, Somajiguda 13,000-17,500 0% 0%
Madhapur, Gachibowli 17,500-25,000 0% 0%
Kukatpally 13,500-17,500 0% 0%
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP was
up from 7.1% in the preceding quarter. In October, the Consumer
Price Index (CPI), a key price indicator of the Reserve Bank of India
(RBI) for policy purposes, was seen at 4.2% - slumping to a 14-
month low – on the back of lower food inflation. The stable inflation
rate had raised hopes of a rate cut in the benchmark interbank
lending rate by the RBI in December, but this did not materialize
given a slowdown in overall economic activity post the
implementation of a currency demonetization exercise by the Indian
government. However, the demonetization has resulted in excess
liquidity with banks, prompting several banks to reduce their term-
deposit rates. The banks may pass on the reduced cost of funds in
the form of cheaper home loan rates to customers over the next few
months. Further, demonetization has increased expectations of a
price cut in the secondary and investor-driven markets. Following
the rationalization, a pick-up in residential sales is anticipated in the
second half of 2017.
Market OverviewPick up in launch activity. New unit launches increased by 19.3%
from the previous quarter and stood at nearly 2,100 units. This
growth was driven by the launch of a large project in Hi-tech city. All
the launches in the quarter were noted in the mid segment. The
sub-markets of Madhapur and Gachibowli together accounted for
majority (60%) of the new units launched during the quarter owing
to steady demand, driven by IT-BPM employees working in the
office markets of Madhapur and Hi-tech city.
Rental and capital values remained stable. The average rental
values remained stable across sub-markets due to higher
availability of rental spaces in relation to demand. At the same time,
capital values also remained stable across all the sub-markets
owing to consistent flow of new supply coupled with steady
demand.
OutlookCapital values to remain stable. The first quarter of 2017 is
expected to witness a marginal decline in new launches as most of
the developers are focused on completing their existing projects.
Demonetization is expected to result in deferment of purchasing
decisions and capital values are expected to remain range-bound.
Increase DecreaseStable
Residential Snapshot Q4 2016HYDERABAD
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Marina Skies Hi-tech City Cybercity Builders & Developers Pvt. Ltd
1,240 4,299
Honer Homes Tellapur Honer Homes 780 3,699
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
My Home Vihanga Phase I Gachibowli My Home Constructions 800 Q1 2017
Atria Phase I Kokapet Rajapushpa Properties 550 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number Of Units Unit Size (SF)
Ashvitha Kukatpally Mahindra Lifespace Developers 664 1,218 – 2,018
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
Residential Snapshot Q4 2016KOLKATA, INDIA
MARKETBEAT
www.cushmanwakefield.com
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
South 63,000-85,000 0% 0%
South-central 100,000-165,000 0% 0%
South-east# 40,000–85,000 0% 0%
South-west 100,000-185,000 0% 0%
Central 85,000-155,000 0% 0%
East 38,000-68,000 0% 0%
North 35,000-70,000 0% 0%
North-east 43,000-66,000 0% 0%
Mid Segment
South 20,000-35,000 0% 0%
South-central 28,000-36,000 0% 0%
South-east# 20,000-35,000 0% 0%
North-east# 15,000-25,000 0% 0%
North 16,500-31,000 0% 0%
EconomyRecorded at 7.3% for the July-September quarter, India’s GDP
was up from 7.1% in the preceding quarter. In October, the
Consumer Price Index (CPI), a key price indicator of the Reserve
Bank of India (RBI) for policy purposes, was seen at 4.2% -
slumping to a 14-month low – on the back of lower food inflation.
The stable inflation rate had raised hopes of a rate cut in the
benchmark interbank lending rate by the RBI in December, but
this did not materialize given a slowdown in overall economic
activity post the implementation of a currency demonetization
exercise by the Indian government. However, the demonetization
has resulted in excess liquidity with banks, prompting several
banks to reduce their term-deposit rates. The banks may pass on
the reduced cost of funds in the form of cheaper home loan rates
to customers over the next few months. Further, demonetization
has increased expectations of a price cut in the secondary and
investor-driven markets. Following the rationalization, a pick-up
in residential sales is anticipated in the second half of 2017.
Market OverviewNew launches continued at a sturdy momentum. The fourth
quarter witnessed a 22% increase in new unit launches over the
previous quarter and stood at nearly 4,100 units. Average
number of units per project increased from 304 in the previous
quarter to 582 in the current quarter, indicating a trend of
launching large-sized projects. The north-east micro-markets of
Hatisala, Newtown and Rajarhat witnessed almost all (98%) the
launches during the quarter.
Affordable segment constituted 93% of the total new launches,
with developers maintaining a high thrust on this segment. The
segment noted a sharp increase of 37 percentage points from
the previous quarter. On an annual basis, the share of launches
in the mid segment reduced significantly from 66% in 2015 to
23% at the end of 2016.
Capital and rental values maintained status quo.
Capital values in both high-end and mid segments remained
stable during the quarter. Rental values also remained broadly
unchanged from the previous quarter due to steady demand and
adequate availability in the market.
OutlookPrices likely to remain range-bound. Capital and rental values
are expected to remain stable over the next quarter. With RERA
in the offing, developers are expected to increase focus on
completing under-construction projects.
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/sf)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
South 7,500-13,000 0% 0%
South-central 12,500-18,500 0% 0%
South-east 6,200-12,500Cap 0% 6%
South-west 12,000-17,000 0% 0%
Central 12,000-19,500 0% 0%
North 6,500-9,500 0% 0%
East 5,000-7,750 0% 0%
North-east 4,350-6,500 0% 0%
Mid Segment
South 4,000-6,700 0% 0%
South-central 5,900-9,250 0% 0%
South-east 3,000-5,550 0% 0%
North-east 2,900-4,250 0% 0%
North 3,150-6,200 0% 0%
Increase Stable Decrease
# Rental values have been recalibrated historically in Q2 2016
Residential Snapshot Q4 2016KOLKATA, INDIA
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Usashi Prince Town Hatisala Usashi Real Estate 800 2,190
Bengal Swan Court Newtown Emami Realty 220 4,320
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Ideal Exotica New Alipore Ideal Group 156 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number of Units Unit Size (SF)
Clubtown Gateway New Town Space Group 190 888 – 2,484
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,000-2,000 sf
KEY TO SUBMARKETS
High-end Segment
South: Southern Avenue, Hindustan Park, Triangular Park, Lake Terrace
South-central: Ballygunge, Queens Park, Rainy Park, Gurusaday Road, Ballyguange Circular Road, Dover Lane
South-east: EM Bypass - Science City, Christopher Road, Pancha Sayar
South-west: Alipore Park Road, Ashoka Road, Burdwan Road, Belvedere Road
Central: Park Street, Camac Street, Shakespeare Sarani, Minto Park, Elgin Road, Lee Road, Loudon Street, Rowdon Street
North: Kankurgachi, Lake Town, VIP Road, Ultadanga, Narkeldanga Main Road
East: Salt Lake
North-east: New Town, Rajarhat
Mid Segment
South: Golf Green, Tollygunge, Lake Gardens, Jodhpur Park
South-central: Deshpriya Park, Hazra Road, Bhawanipur
South-east: Ajoy Nagar, Hiland Park, PA Shah Connector
North-east: Rajarhat, Rajarhat Chowmatha
South-west: Tollyguange Circular Road, New Alipore, Behala, Jones Lang Sarani
North: Jessore Road, Ultadanga, Shyambazar, Bagbazar, Girish Park, Manicktala, Dum Dum
North-peripheral: BT Road, Barasat, Madhyamgram, Sodepur
South-peripheral: Garia, Narendrapur, Sonarpur,
South-west peripheral**: Joka, Maheshtala, Budge Budge, Thakurpukur
Residential Snapshot Q4 2016MUMBAI, INDIA
MARKETBEAT
www.cushmanwakefield.com
Economy
Recorded at 7.3% for the July-September quarter, India’s GDP was
up from 7.1% in the preceding quarter. In October, the Consumer
Price Index (CPI), a key price indicator of the Reserve Bank of India
(RBI) for policy purposes, was seen at 4.2% - slumping to a 14-month
low – on the back of lower food inflation. The stable inflation rate had
raised hopes of a rate cut in the benchmark interbank lending rate by
the RBI in December, but this did not materialize given a slowdown in
overall economic activity post the implementation of a currency
demonetization exercise by the Indian government. However, the
demonetization has resulted in excess liquidity with banks, prompting
several banks to reduce their term-deposit rates. The banks may pass
on the reduced cost of funds in the form of cheaper home loan rates
to customers over the next few months. Further, demonetization has
increased expectations of a price cut in the secondary and investor-
driven markets. Following the rationalization, a pick-up in residential
sales is anticipated in the second half of 2017.
Market Overview
Unit launches continued to decline. Unit launches dropped by 16%
from the previous quarter and stood at 5,700. Developers adopted a
cautious approach on the back of the recent demonetisation and
postponed majority of their launches. Thane continued to garner
majority of unit launches (40%), followed by the Eastern Suburbs
(28%) and Western Suburbs (23%). 1 and 2 Bedroom-Hall-Kitchen
(BHKs) units together constituted majority (74%) of the launches.
Nearly 80% of the unit launches were witnessed in the mid segment,
followed by the high-end segment (20%). It is pertinent to note that
the affordable segment did not see any launches during the quarter.
Thane continued its momentum and recorded the maximum unit
launches (49%) within the mid segment, followed by Eastern Suburbs
and Western Suburbs submarkets. A large project launch in Kalyan-
Dombivli belt buoyed the growth of launches in Thane. It is interesting
to note that the launches in the high-end segment were equally
spread in the Eastern Suburbs and South Central submarkets.
Rental and capital values remained range-bound. Rental and
capital values continued to remain range-bound across all submarkets
during the quarter as buyers and sellers are in a wait-and-watch mode
to realize the complete impact of demonetisation.
Outlook
Launches to remain subdued. The number of new launches is
expected to decline as developers are assessing the impact of
demonetisation in a market which is also gearing up to enforce RERA.
<CITY> OFFICERENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)
% Change From Short
Term
Outlook3 Mth
Ago
1 Yr
Ago
South 60,000-700,000 0% 0%
South Central 50,000-550,000 0% 0%
Eastern Suburbs 25,000-400,000 0% 0%
Western Suburbs
– Prime50,000-800,000 0% 0%
Western Suburbs 25,000-220,000 0% 0%
Mid Segment
Eastern Suburbs 18,000-70,000 0% 0%
Western Suburbs 20,000-80,000 0% 0%
Thane 14,000-28,000 0% 0%
Navi Mumbai 10,000-50,000 0% 0%
CAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/sf)
% Change From Short
Term
Outlook3 Mth
Ago
1 Yr
Ago
South 40,000-83,000 0% 0%
South Central 23,000-80,000 0% 0%
Eastern Suburbs 12,000-40,000 0% 0%
Western Suburbs
– Prime18,000-50,000 0% 0%
Western Suburbs 12,000-35,000 0% -6%
Mid Segment
Eastern Suburbs 10,000-25,000 0% 0%
Western Suburbs 9,000-26,000 0% 0%
Thane 7,000-14,000 0% 0%
Navi Mumbai 5,000-15,000 0% 0%
Increase DecreaseStable
Residential Snapshot Q4 2016MUMBAI, INDIA
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Codename Golden Tomorrow Dombivli Lodha Group 1,500 9,300
Salsette 27 Byculla Peninsula Land Ltd. 494 26,750
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
The Trees Vikhroli Godrej Properties 370 Q4 2019
Lodha World One Lower Parel Lodha Group 330 Q4 2018
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number Of Units Unit Size (SF)
Sanghavi Eco City – Phase I Mira Road Sanghvi Builders 230 710-1,255
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 1,200-3,000 sf
The above values for mid segment are for units typically of 800-1,400 sf
KEY TO SUBMARKETS
High-end Segment
South: Colaba, Cuffe Parade, Nariman Point, Churchgate, Altamount Road, Carmichael Road, Malabar Hill, Napeansea Road, Breach Candy, Pedder Road, Tardeo
South Central: Worli, Prabhadevi, Lower Parel / Parel, Dadar, Matunga
Eastern Suburbs: Wadala, Sion, Kurla, Chembur, Ghatkopar, Vikhroli, Powai, Chandivali
Western Suburbs - Prime: Bandra, Khar, Santacruz, Juhu
Western Suburbs: Andheri, Vile Parle, Jogeshwari, Goregaon, JVLR, Malad
Mid Segment
Eastern Suburbs: Sion, Wadala, Kurla, Chembur, Ghatkopar, Vikhroli, Powai, Chandivali, Kanjurmarg, Bhandup, Mulund
Western Suburbs: Andheri, Jogeshwari, Goregaon, JVLR, Malad, Kandivali, Borivali, Dahisar
Thane: Thane, Ghodbunder Road
Navi Mumbai: Airoli, Ghansoli, Rabale, Koparkhairane, Vashi, Turbhe, Sanpada, Nerul, Belapur, Kharghar, Panvel
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
Residential Snapshot Q4 2016Pune
MARKETBEAT
www.cushmanwakefield.com
Economy
Recorded at 7.3% for the July-September quarter, India’s GDP was
up from 7.1% in the preceding quarter. In October, the Consumer
Price Index (CPI), a key price indicator of the Reserve Bank of India
(RBI) for policy purposes, was seen at 4.2% - slumping to a 14-
month low – on the back of lower food inflation. The stable inflation
rate had raised hopes of a rate cut in the benchmark interbank
lending rate by the RBI in December, but this did not materialize
given a slowdown in overall economic activity post the
implementation of a currency demonetization exercise by the Indian
government. However, the demonetization has resulted in excess
liquidity with banks, prompting several banks to reduce their term-
deposit rates. The banks may pass on the reduced cost of funds in
the form of cheaper home loan rates to customers over the next few
months. Further, demonetization has increased expectations of a
price cut in the secondary and investor-driven markets. Following the
rationalization, a pick-up in residential sales is anticipated in the
second half of 2017.
Market Overview
Decline in launch activity. Pune witnessed launch of nearly 4,300
units during the fourth quarter of 2016, a 7% decline from the
previous quarter. Comparatively, smaller sized projects were
launched as the average number of units per project reduced from
244 in the previous quarter to 180 in the current quarter.
Developers focused on affordable segment, primarily in PCMC.
Majority (69%) of the quarterly unit launches were in the affordable
segment, nearly 96% of which were concentrated in the submarkets
of NH4 Bypass (North) and Pimpri, both of them falling under the
jurisdiction of Pimpri-Chinchwad Municipal Corporation (PCMC). It is
pertinent to note that locations such as Talegaon, Chikhali and
Gahunje within PCMC are emerging as affordable housing
destinations, with nearly 57% of the affordable units launched during
2016 being concentrated in these areas.
Quoted capital and rental values remained stable. Quoted capital
and rental values across all submarkets maintained status-quo
during the quarter.
Outlook
Launch activity to remain subdued. New launches are expected to
be restricted in the upcoming quarter as developers are likely to
focus on completing existing under-construction projects and clearing
the high unsold inventory levels. While off-take of units are likely to
be further hit on account of demonetisation, rental and capital values
are expected to remain largely range-bound in the near term.
<CITY> OFFICE
RENTAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rent (INR/Mth)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Koregaon Park –
Boat Club100,000-220,000 0% 0%
Aundh-Baner 75,000-130,000 0% 0%
Nagar Road 70,000-140,000 0% 0%
East 55,000-140,000 0% 0%
Mid Segment
Koregaon Park - Boat
Club 30,000-45,000 0% 0%
Aundh-Baner 17,000-32,000 0% 4%
Kothrud 14,000-21,000 0% 0%
Nagar Road 15,000-35,000 0% 0%
North-East 12,000-20,000 0% 0%
East 11,500-20,000 0% 0%
South-East – I 13,000-22,000 0% 0%
South-East II 8,500-13,000 0% 0%
NH4 Bypass (North) 11,000-18,500 0% 2%
Pimpri 10,500-17,000 0% 4%
<CITY> OFFICECAPITAL VALUES AS OF Q4 2016
High-End Segment
Submarket Average Quoted
Rate (INR/sf)% Change From Short Term
Outlook3 Mth
Ago
1 Yr Ago
Koregaon Park -
Boat Club14,000-19,000 0% 0%
Aundh-Baner 8,500-13,000 0% 0%
Nagar Road 9,500-14,500 0% 0%
East 8,500-13,000 0% 0%
West 13,000-17,500 0% 0%
Mid Segment
Koregaon Park -
Boat Club 8,500-10,500 0% 0%
Aundh-Baner 6,500-8,200 0% 0%
Kothrud 8,500-11,250 0% 0%
Nagar Road 6,000-7,800 0% 0%
North-East 3,600-6,200 0% 2%
East 4,300-5,800 0% 0%
South-East – I 5,300-7,200 0% 0%
South-East – II 3,750-5,500 0% 0%
NH4 Bypass (North) 4,200-6,100 0% 2%
Pimpri 4,000-6,000 0% 0%
Increase DecreaseStable
Residential Snapshot Q4 2016Pune
MARKETBEAT
www.cushmanwakefield.com
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way
people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and
global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield
is among the largest commercial real estate services firms in the world with revenues of $5 billion across core
services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global
occupier services, investment management (branded DTZ Investors), tenant representation and valuations &
advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
Copyright © 2017 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from mult iple sources considered
to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Siddhart GoelSenior Director
Research Services, India
Tel: +91 80 40465555
STATS ON THE GO
Significant Projects Launched in Q4 2016
Building Location Developer Units Launched Rate* (INR/SF)
Skyi Star Towers Bhugaon Skyi Developers 464 4,414
Hill Shire Wagholi Guardian Developers 128 4,300
Significant Projects Under Construction in Q4 2016
Building Location Developer Est. Number Of Units Expected Completion
Panchshil Towers Kharadi Panchshil Realty 1,044 Q1 2017
24K Glitterati Pimple Nilakh Kolte-Patil Developers 224 Q1 2017
Significant Construction Completions in Q4 2016
Building Location Developer Est. Number Of Units Unit Size (SF)
Sukhwani Gracia Pashan Sukhwani Constructions 116 883-1,022
Gera Isle Royale Bavdhan Gera Developments 60 2,355-4,255
NOTES
Data collated from primary and secondary resources. Estimations are subject to change
* Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges,
etc.
The above values for high-end segment are for units typically of 1,600 sf and above
The above values for mid segment are for units typically of 900-1,600 sf
KEY TO SUBMARKETS
High-end Segment
Koregaon Park-Boat Club: Koregaon Park, Bund Garden Road, Boat Club Road, Mangaldas Road
Aundh-Baner: Aundh, Baner
Nagar Road: Kalyani Nagar, Viman Nagar
East: Sopan Baug, Uday Baug, Hadapsar
West: Deccan Gymkhana, Model Colony, Prabhat Road, Erandwane, Bhosale Nagar
Mid Segment
Koregaon Park-Boat Club: Koregaon Park, Bund Garden Road, Boat Club Road, Mangaldas Road
Aundh-Baner: Baner, Baner Road
Kothrud: Kothrud
Nagar Road: Kalyani Nagar, Yerwada, Shashtri Nagar, Viman Nagar, Old Airport Road, Vishrantwadi
North-East: Kharadi, Wagholi, Wadgaon Sheri
East: Hadapsar, Manjri, Mundhwa, Keshavnagar
South-East - I: Wanowrie, NIBM Road, Lulla Nagar
South-East - II: Undri, Kondhwa, Pisoli
NH4 Bypass (North): Balewadi, Mahalunge, Wakad, Hinjewadi, Punawale, Kiwale, Ravet, Tathawade, Bhugaon, Bavdhan, Pashan, Sus