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MONTHLY BULLETINJune 2016
BANGALORE | CHENNAI | HYDERABAD | KOLKATA | MMR | NCR | PUNE
FOREWORD
If we delve deeper, the Haryana government slashed the circle rates in Gurugram (Gurgaon) for the first time by
as much as 15 per cent. This move is aimed to revive the otherwise sluggish real estate market in the region and
thereby boost sales. Additionally, the Model Shop and Establishment Act saw the light of the day and it is now the
prerogative of the respective States to implement the same. The Act proposes to allow malls, cinema halls,
restaurants and other retail establishments to remain open all days. This will give a major push to retailing in the
country which ultimately will impact the sector as a whole.
Most importantly, on the salary front, the already much sought-after sarkari naukri might now become more
coveted. The 23 per cent salary hike for government employees will result in higher disposable income in their
hands. Now, considering the risks involved in the stock market and high gold prices, real estate fraternity is
hoping that the fence-sitters will finally take a plunge. And property segments that will benefit the most are
affordable and mid segments.
If we look at the supply of new launches of residential units in top metros, MMR, Pune and Bangalore have seen
an increase in the numbers while NCR was clearly lagging behind. Interestingly, Chennai saw maximum launch of
new projects amongst all metros with luxury segment dominating the property classification. Moreover, the
rental market is looking quite steady. With increased commercial absorption across cities, rental demand in major
areas is poised to grow further.
Priyanka KapoorSr. Manager – Content & Research (Real Estate)QuikrHomes
June has been an interesting month with few big developments taking ‘real’
shape. From the latest go-ahead to the 7th Pay Commission to the slashed circle
rates in Gurugram (Gurgaon) to the Cabinet nod being given to the Model Shop
and Establishment Act, all these developments are hinting towards “Acche Din”
for the sector at large. While the recent relaxation in FDI norms is likely to
address the supply issues, the circle rates cut and 7th pay Commission are most
likely to impact the demand side of the story.
Major Deal Of The Month
MARKET SENTIMENTS
MARKET OVERVIEW - PAN INDIA
In India's largest deal so far in the commercial
property space, Canada-based Brookfield
Asset Management is set to acquire
Hiranandani Group's offices and retail space in
Powai, Mumbai, for about Rs 6,700 cr.
India Invites German Firms To Invest In Infrastructure SectorSeeking German investment in India's infrastructure sector, Urban Development Minister M Venkaiah Naidu
said the partnership between the two countries should and will flourish as he invited participation of its
business community in India's urban renaissance.
New Launches Increase In MMR, Pune & Bangalore • As per our data, new launch supply of residential units in top metros, MMR, Pune and Bangalore have seen
an increase in the numbers while NCR was clearly lagging behind. Interestingly, Chennai saw maximum
launch of new projects amongst all metros with luxury segment dominating the property classification.
Moreover, the rental market is looking quite steady. With increased commercial absorption across cities,
rental demand in major areas is poised to grow further.
• With approximately 6,00,000 unsold housing stock in the primary market in the top seven cities, the
average inventory overhang comes around 35 months. Interestingly, the rental market in top cities
continued to witness a stable price movement.
Roads, Railways & Power May Get Rs 25,000 Cr PushThe government is mulling an additional Rs 25,000 cr allocation to roads, railways and power sectors over
and above the allocation made to them in the Union Budget, potentially providing a mid-year boost to public
spending.
Sahara Properties To Be Auctioned At Rs 1,900 Cr Reserve Price
Taking forward its task of recovering dues from Sahara, markets regulator SEBI will sell a total of 16 land
parcels of the beleaguered group, through e-auction next month, at a reserve price of about Rs 1,900 cr.
SEBI Relaxes InvITs Rules To Draw Business Houses
To help the newly-introduced Infrastructure Investment Trusts (InvITs) gain further traction,
markets watchdog SEBI has proposed easing of norms for these instruments, by reducing the
mandatory sponsor holding to 10 per cent, from the current 25 per cent.
Consumer Panel Asks DLF To Pay 12% Per Annum For Delaying Flats
The apex consumer commission slapped a penalty of 12% per annum on real estate major DLF Ltd to be
given to 50 buyers for delaying possession of their flats in its Panchkula project in Haryana.
TOP TRENDING NEWS
Housing Sales Decline 2.2 % to 1.58 Lakh Units In Fiscal Year 2016
Housing sales fell 2.2 per cent to 1.58 lakh units in seven major cities last fiscal, but the market is expected
to improve by next March on the back of lower interest rates and fall in prices, says a report by JLL.
CIC Gives Pro-disclosure Order On Land Acquisition Ordinance
Ending a year-long impasse between the citizens and the government, the Central Information
Commission has given a pro-disclosure order and directed the rural development ministry to divulge
Cabinet note, file notings and all government communication on the controversial Land Acquisition
Ordinance under the Right to Information (RTI) Act.
DELHI
<1000 ₹5,700
PAN-INDIA REAL ESTATE MARKET OVERVIEW - TOP CITIES
CHANGE IN NEW SUPPLYMonth-on-Month
TOTAL UNITS LAUNCHED (approx.)June
WEIGHTED AVG PRICE (in ₹/sq ft)OF NEW LAUNCHED PROJECTSJune
KOLKATA
<500 ₹2,869
PUNE
<500 ₹7,272
MUMBAI
>3000 ₹16,581
HYDERABAD
<500 ₹3,665
BANGALORE
<500 ₹3,232CHENNAI
<500 ₹5,532
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
AffordableDS Max Star
NestDS Max Properties
Pvt LtdKengeri Apartments
2BHK: 797-11463BHK: 1,191-1,500
2,800 132 May 2019
Affordable Vakil MagnoliaVakil Housing Development
Corporation Pvt. LtdChandapura Apartments 3BHK: 1,365 2,500 100 Dec 2018
Mid/ Luxury Midwest Elita Midwest Builders Yelahanka Apartments2BHK: 1,369
3BHK: 1,792-2,1465,399 46 Jun 2017
LuxuryAsrithas Lotus
ResidencyAsrithas Group HSR Layout Apartments
2BHK: 1,2753BHK: 1,660
2BHK: 6,2753BHK: 8,434
10 May 2017
100% Apartments 0% Plots 0% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Whitefield 5,050 5,150
2 Kanakapura Road 5,100 5,150
3 Electronic City Phase I 4,300 4,200
4 Sarjapur Road 5,450 5,500
5 Varthur 4,100 4,150
6 Yelahanka 4,700 4,650
7 Hennur Road 5,200 5,150
8 Thanisandra Main Road 4,990 5,000
9 Bannerghatta Road 5,050 5,100
10 Hebbal 6,175 6,200
OVERVIEW
KEY PROJECTS
• Bangalore witnessed a marginal increase of 6 per cent in total
new launched supply in the month of June.
• Kengeri emerged as the best performing micro-market in terms
of new launch supply. Flanked by NICE Ring Road, NICE
Bangalore-Mysore Expressway and Mysore Road, Kengeri enjoys
great connectivity to other parts of the city. This coupled with
ample land availability has made Kengeri a hotspot for realty
development.
Top Performing Market
Inventory Overhang
Kengeri
BANGALORE
32 months*
KEY LOCALITIES
40% Affordable
20% Mid-Segment
40% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
*Inventory overhang = Total unsold stock/ Avg. of 12 months sales velocity
On the basis of units launched in June
TOP NEWS & DEALS
Bangalore-Mysore 6-Lane Work To Begin By AugustThe work on upgrading the Bangalore-Mysore Road to six lanes will begin by August, as per PWD Minister H C Mahadevappa.
Whitefield
JP Nagar
Jayanagar Koramangala
BTM Layout
Malleswaram
Indiranagar
Sarjapur RoadHosur Road
Haralur
BANGALORE
Rental YieldOut of the top markets based on gross rental yield, majority of the markets are skewed towards the south-eastern part of the city. Strategically situated along the ORR, these markets are seeing high residential demand due to the presence of IT/ITeS and SEZs.
Rental Trends• The presence of IT/ITeS have
made Electronic City and Whitefield prominent localities for rentals. However, it is remarkable to see how the older localities of Koramangala and Indiranagar have also retained their sheen with a healthy demand and supply ratio.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
Whitefield Set To Go SmartDespite all its problems like bad roads, broken pavements, overflowing drains, Whitefield may qualify for a Rs 5,847.5 crgrant under the second phase of the Smart City project.
Metro South Line Trials By September: BMRCLNamma Metro cleared a major milestone when the Kaveri Tunnel-Boring Machine, working northwards from Chikpet, reached the Kempegowda Station. This breakthrough means BMRCL will soon be able to begin trials once the tracks are ready.
HSR Layout
Electronic City
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
AffordableManju Global
City
Manju Foundations Pvt
LtdEast Coast Road Villas
2BHK Villa: 4753BHK Villa: 758
2,084 138 Jun 2019
Affordable/ MidTouchwudConfluence
Touchwud Flat Promoters Pvt.
Ltd.Guduvanchery Apartments
1BHK: 501 - 5092BHK: 761
3BHK: 1,149 -1,3103,499 98 Aug 2017
Mid GP Freesia GP Homes Pvt Ltd Korattur Apartments2BHK: 704 - 905
2.5BHK: 1,0333BHK: 1,052 -1,201
5,500 22 Aug 2017
Luxury DRA TuxedoDRA Projects Pvt
LtdVelachery Apartments
2BHK: 1,147 - 1,2343BHK: 1,475 - 1,739
7,450 56 Dec 2018
Luxury
KgeyesSowrashtra
Nagar
Kgeyes Residency Pvt Ltd
Choolaimedu Apartments2BHK: 1,017
2.5BHK: 1,2043BHK: 1,052 -1,260
10,500 6 Mar 2017
Luxury Arham Sarva Arham Builders Anna Nagar East Apartments 3BHK: 1,360 - 2,000 16,000 6 Dec 2017
57.7% Apartments 0% Plots 42.3% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1Old MahabalipuramRoad
4,288 4,300
2 Perumbakkam 4,124 4,200
3 Porur 6,025 6,100
4 East Coast Road 5,645 5,600
5 Madipakkam 5,122 5,200
6 Pallikaranai 5,160 5,100
7 Sholinganallur 5,234 5,150
8 Medavakkam 4,610 4,650
9 Velachery 7,600 7,650
10 Poonamallee 3,960 3,900
OVERVIEW
KEY PROJECTS
• A total of six projects were launched in Chennai contributing to a
total of 326 units. Once again luxury market dominated the new
launch supply.
• East Coast Road emerged as the best performing market with
considerable new supply of villas in the affordable segment. The
development of ECR into a National Highway has helped the
region climb the realty ladder in terms of both supply and
demand.
Top Performing Market
Inventory Overhang
East Coast Road
CHENNAI
31 months
KEY LOCALITIES
30% Affordable
20% Mid-Segment
50% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
On the basis of units launched in June
Velachery
Porur
Chromepet
Adyar
Thiruvanmiyur
TOP NEWS & DEALS
Embassy Group To Co-Develop SEZ In ChennaiEmbassy Group has emerged as the exclusive co-developer for setting up a 30-acre SEZ along the Thoraipakkam-Pallavaram Radial Road. The first phase of the project, to be known as "Embassy Splendid TechZone,” is expected to be completed by 2019.
Tamil Nadu Govt. In Talks With Foxconn, Other CompaniesAlmost 18 months after the mobile handset manufacturing unit of Nokia India suspended operations at the SEZ facility in Sriperumbudur, the Government of Tamil Nadu is in talks with at least four or five companies to revive the manufacturing facility.
Chennai-Bangalore Corridor Promises Win-Win For AllThe long-term vision of the Chennai-Bangalore Industrial Corridor is to develop itself as a globally competitive manufacturing hub that promotes sustainable development by creating at least 22 million additional jobs in the next 20 years.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
Rental YieldStrategically located along the GST Road, Chromepet recorded highest rental yield. This can be attributed to the high demand from IT professionals and the students studying in nearby colleges.
Rental Trends• As expected, maximum rental
availability is seen towards South Chennai where demand is driven by the major IT corridors – OMR and GST. Also, most of the top markets are established residential hubs.
CHENNAI
Mylapore
Anna Nagar
Mudichur
Chintadripet
Poonamallee
Madipakkam
Ambattur
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
LuxuryGemini Infra
NexusGemini Infra India
Pvt. Ltd.Nizampet Villas 3BHK: 2,592 3,665 3 Dec 2016
0% Apartments 0% Plots 100% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Manikonda 2,950 3,000
2 Kondapur 4,267 4,300
3 Gachibowli 4,005 4,100
4 Miyapur 3,345 3,400
5 Madhapur 4,950 4,850
6 Kompally 3,300 3,250
7 Attapur 3,250 3,200
8 Chanda Nagar 3,300 3,350
9 Hi Tech City 5,050 5,150
10 Banjara Hills 5,645 5,700
OVERVIEW
KEY PROJECTS
• Hyderabad residential market witnessed only one project launch
in the month on June.
• In last few quarters, the city has been experiencing high real
estate activity with a sharp increase in the new launch supply.
This is the first time in the current fiscal when the city recorded
a massive decline in the new unit launches when compared to
the last few months.
Top Performing Market
Inventory Overhang
Nizampet
HYDERABAD
28 months
KEY LOCALITIES
0% Affordable
0% Mid-Segment
100% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
On the basis of units launched in June
• Nizampet emerged as the top preforming market owing to the presence of IT/ITeS companies in and around
the area.
TOP NEWS & DEALS
Telangana To Set Up Pharma City Near HyderabadTelangana government has ordered setting up of a 'Pharma City' on 12,500 acres of land in Rangareddy and Mahbubnagar districts of the state.
Hyderabad Govt. Starts Land Acquisition For SRDP For the makeover of 18 major road junctions as a part of the Strategic Road Development Plan (SRDP), the Hyderabad district administration has begun the exercise to acquire land from government entities and private property owners.
Centre Approves 2 Industrial Corridors In TelanganaThe Union commerce ministry has approved two industrial corridors in the state. The ministry gave in-principle approval to proposals submitted by the TS government on setting up industrial corridors along Hyderabad-Warangal and Hyderabad-Nagpur Highways.
HYDERABAD
Rental Yield • Top markets with high gross rental yield
are essentially the Cyberabad micro-markets including Gachibowli and Manikonda, driven by IT/ITeS sectors.
Miyapur
Gachibowli
Kukatpally
MadhapurAmeerpet
Jubilee Hills
Banjara Hills
Ramanthapur
Tolichowki
Rental Trends• While the western region of
the city dominates growth and development pivoted along the IT industry, we can see increase in rental activity and demand owing to the elevated Metro corridor connectivity.
• There is good rental demand and supply in most of the major markets including Gachibowli and Madhapuramongst others.
Top Markets- Rental Yield
Top Market- Rental Demand
Top Markets- Rental Availability
Kondapur
Mehdipatnam
Manikonda
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
AffordableRealtech 16
AanaRealtech Nirman Rajarhat Apartments
2 BHK: 607 3 BHK: 1,070
2,900 112 Dec 2018
AffordableUnique
ParkwoodsUnique Property Rajarhat Apartments
1BHK: 5502 BHK: 700-850
3 BHK: 9003 BHK: 900-1250
2,800 50 Dec 2019
100% Apartments 0% Plots 0% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Rajarhat 4,334 4,350
2 Garia 3,770 3,800
3 EM Bypass 6,233 6,250
4 Narendrapur 3,600 3,550
5 Madhyamgram 2,900 2,950
6 BT Road 4,040 4,100
7 New Town 4,800 4,850
8 Behala 3,800 3,900
9 Tollygunge 4,850 4,900
10 Dum Dum 3,300 3,250
OVERVIEW
KEY PROJECTS
• Similar to the month of May, Kolkata witnessed the launch of
two projects offering apartments in the affordable segment.
• Rajarhat, once again, emerged as the top performing market.
Lower property prices coupled with sound infrastructure
continue to attract both developers and buyers to Rajarhat.
Top Performing Market
Inventory Overhang
Rajarhat
KOLKATA
On the basis of units launched in June
30 months
KEY LOCALITIES
100% Affordable
0% Mid-Segment
0% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
KOLKATA
Rajarhat
Dum Dum
Salt Lake City
VIP Road
Tollygunge
TOP NEWS & DEALS
Civic Body Offers UAA System For Property Tax CalculationSimpler, quicker and more inclusive - that's the promise from Kolkata Municipal Corporation as it rolls out a DIY method of property tax calculation. The key feature of the Unit Area Assessment (UAA) system is that it caps the highest tax slab at 20 per cent.
Aadhar Housing Finance Expects Over 70% GrowthAadhar Housing Finance is expecting over 70 per cent surge in home loan disbursements this year in West Bengal following implementation of the Housing for All by 2022 and Smart City projects.
Green City plan for Kolkata's New TownProdded by chief minister Mamata Banerjee, the Housing Infrastructure Development Corporation (Hidco) has started preparing a plan to develop New Town as a Green City. The programme may start from mid-July.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
Rental YieldRajarhat garnered maximum rental yield owing to the high rental demand from the IT professionals working in and around the area.
Rental Trends• Tollygunge has emerged as
the top market in terms of rental yield, demand as well as availability. It is known as one of the most premium localities in Kolkata, thanks to 2 lavish golf courses within the locality.
Garia
Rajarhat New TownKeshtopur
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
AffordableNK Neel Empire
NK Enterprises Karjat Apartments1RK: 380
1BHK: 520 - 5652BHK: 870
4,000 2,300 Dec 2019
Affordable Nisarg Greens Nisarg Group Ambernath East Apartments1BHK: 730 – 900
2BHK: 1,0304,100 624 Dec 2019
LuxuryPiramal
Vaikunth Ph IIPiramal Realty Balkum Apartments
2BHK: 908 – 9113BHK: 1,262
9,050 224 May 2021
LuxuryLakhani
Empire TowerLakhani Builders
Pvt Ltd.Thane East Apartments
2BHK: 1,0702.5BHK: 1,443
3BHK: 1,720 – 1,75011,300 200 Dec 2019
LuxuryConcrete Sai
SwaroopConcrete Builders Chembur Apartments
1BHK: 715 2BHK: 1,080
17,480 70 May 2018
100% Apartments 0% Plots 0% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Badlapur East 3,600 3,650
2 Virar West 4,400 4,200
3 Andheri West 21,600 21,820
4 Mira Road 7,800 7,850
5 Chembur 17,512 17,400
6 Wadala 21,350 21,450
7 Ulwe 5,800 5,820
8 Panvel 5,980 5,600
9 Kharghar 7,950 8,000
10 Nerul 11,200 11,250
OVERVIEW
KEY PROJECTS
• MMR witnessed a massive increase in the total new launched
supply in the month of June. A total of five projects were
launched in MMR contributing to approximately 3,400 units,
which is the highest among all tier-1 cities of India.
• Karjat emerged as the best performing micro-market in the
region. Located along the State Highway in Raigad district, it is
well connected to Panvel, Mumbai, Thane and Pune.
Top Performing Markets
Inventory Overhang
Karjat
MMR
40 months
KEY LOCALITIES
28% Affordable
0% Mid-Segment
72% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
On the basis of units launched in June
Chandivali
Powai
Malad West
Ghodbunder Road
Kharghar
Andheri East
Chembur
Mira Road
Tilak Nagar
TOP NEWS & DEALS
MMRDA To Allow Flats On Plots Earmarked For Commercial Use In BKCMMRDA will allow apartments to come up on plots reserved for commercial establishments in BKC. BKC houses several government offices and key private financial institutes like ICICI Bank and Crisil.
Property Tax Bill Easier To DecodeThe property tax bills issued by the Thane Municipal Corporation (TMC)will be much more easy to understand now as the administration has simplified the format for its nearly 4.2lakh consumers.
Mumbai Civic Body To Survey Properties To Widen Tax NetThe Brihanmumbai Municipal Corporation (BMC) has decided to start a survey to assess properties to increase the tax net. Using the Light Detection and Ranging (LiDAR) technology and video-recording, the survey will help the civic body identify unassessed properties.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
MMR
Rental Yield • Located in proximity to Powai,
Chandivali is seeing major real estate activity owing to decent social and physical infrastructure facilities. The gross rental yield here has increased from 2.6 per cent in Q1 2016 to 3 per cent in Q2 2016.
Rental Trends
• Mumbai suburbs continue to show their dominance in the rental markets of MMR.
• Close proximity to financial capital, good connectivity and robust infrastructure has boosted high rental values in these markets.
Nalasopara
Nerul
Airoli
Malad East
Goregaon East
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
Mid/ Luxury
Flower Valley Lake Front
Towers
Sweta Estates PvtLtd.
Sohna Road Apartments3BHK: 1,590 4BHK: 2,407
5,700 600 Dec 2018
100% Apartments 0% Plots 0% Villas
RANK LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Suraj Kund 6,391 6,330
2 Raj Nagar Extension 3,320 3,420
3 Crossing Republik 3,700 3,450
4 Indirapuram 5,550 5,600
5 Noida Extension 3,400 3,320
6 Yamuna Expressway 3,314 3,300
7 Sector-54, Gurgaon 12,808 13,570
8 Sector-50, Gurgaon 8,500 8,550
9 Sohna Road 7,550 7,500
10 Golf Course Road 13,500 12,350
OVERVIEW
KEY PROJECTS
• The recent cut in the circle rates in Gurugram is set to have a
positive impact on the realty market here. However, Delhi-NCR
has the highest inventory overhang in contrast to major metros.
• With builders mainly concentrating on completing their
previously launched projects, there has been a decent drop in
the new project launches in NCR. Only few parts of the region
are active due to various commercial establishments and
infrastructure projects being taken up.
Top performing market
Inventory Overhang
Sohna Road
NCR
55 months
• Sohna Road, with a bustling commercial activity, stood top in the new residential supply entering the
market this month. Although, the average sale prices dropped in the region marginally.
KEY LOCALITIES
0% Affordable
50% Mid-Segment
50% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
On the basis of units launched in June
Indirapuram
Rohini
Noida Sector 137
Patel Nagar
Noida Sector 12Uttam Nagar
Kalkaji
LaxmiNagar
Vikapuri
TOP NEWS & DEALS
280 Flats On Offer Along Yamuna E-WayYEIDA launched five housing schemes in its area. On offer are flats in residential category and plots in industrial, institutional and commercial categories. There are 280 residential flats on offer. The 200 smaller units will cost Rs11 lakh each while the 80 bigger ones will be Rs 19 lakh each.
DMRC To Take Up Dwarka-IFFCO Chowk Metro ProjectDelhi Metro Rail Corporation (DMRC) will implement the proposed metro line from DwarkaSector 21 to IFFCO Chowk in Gurgaon. Haryana Chief minister Manohar Lal Khattar said the state government had given final nod to the project.
Metro For Okhla Residents Part of the new Magenta Line of Delhi Metro may soon start functioning as DMRC started trial runs on the 3.5km stretch between Kalindi Kunj Depot and Okhla Vihar metro station. Once completed, it will connect Janakpuri West metro station with Botanical Garden station and will have a total length of 38km.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
Rental Yield Uttam Nagar garnered healthy rental yield owing to its strategic location. The micro-market boasts of good accessibility via Metro and is also in close proximity to Gurgaon and IGI Airport.
Mahipalpur
Rental Market Trends• Affordability and decent
infrastructure have been the major factors for rental markets such as Indirapuram, Rohini.
• Connectivity and proximity to Gurgaon are the key factors for high rental activity in UttamNagar, Saket and Mahipalpur.
NCR
Old RajendraNagar
Saket
PROPERTY SEGMENT
PROJECT NAME
BUILDER NAME LOCALITYPROPERTY
TYPEBHK DETAILS
(in sq ft)BSP
(INR)LAUNCH
UNITSPOSSESSION
DATE
Luxury
KasturiApostrophe
NextKasturi Housing Wakad Apartments 3BHK: 1,505 – 1,555 7,272 130 Apr 2019
100% Apartments 0% Plots 0% Villas
Rank LOCALITYMAY
PRICE (₹)CURRENT PRICE (₹)
CHANGE
1 Wagholi 4,600 4,650
2 Wakad 6,450 6,400
3 Baner 7,200 7,100
4 Kharadi 6,400 6,320
5 Undri 4,980 4,700
6 Hadapsar 5,899 5,500
7 Talegaon 3,910 3,600
8 Bavdhan 6,590 6,620
9 Balewadi 6,800 6,850
10 Hinjewadi 5,788 5,830
OVERVIEW
KEY PROJECTS
• Pune residential market also witnessed a downturn in terms of
new units supply. The city saw supply of less than 150 units,
which is marginally low as compared to the previous month.
• While most developers are seen to be concentrating on clearing
their existing residential stock, we see a marginal decline in the
average property prices along major markets in the city.
Top Performing Market
Inventory Overhang
Wakad
PUNE
23 months
• Wakad has been the most active market of the month with good number of residential units being
launched. Close proximity to IT/ITeS hubs keeps both, sale and rental demand high in the area.
Interestingly, the market saw launch of only luxury apartment units.
KEY LOCALITIES
0% Affordable
0% Mid-Segment
100% Luxury
AML Classification of New Project Launches
Typology-split of New Unit Launches
On the basis of units launched in June
Viman Nagar
Kharadi
Wagholi
Hadapsar
Wakad
Katraj
Kothrud
Baner
WadgaonSheri
TOP NEWS & DEALS
1,336 Flats To Be Allotted Under Pimpri Chinchwad'sEWS Housing Scheme A total of 1,336 flats will be allotted to beneficiaries of the economically weaker sections by the Pimpri Chinchwad Municipal Corporation under their urban renewal mission. Currently, around 6,250 flats are being constructed at Chikhle.
Magarpatta City: India’s First Successful Land Pooling PlanMagarpatta City is the township in the village of Hadapsar in Pune. Built over 600 acres of land, it is home to a commercial zone, residential neighbourhoods, a multi-specialty hospital, a shopping mall, multiple restaurants, a gymkhana, schools and a large 25-acre serene park.
Property Tax Hike Decision Under Review In PuneA massive hike that was proposed in property tax could be withdrawn as the standing committee has shown its willingness to reconsider the general body's decision taken in February to generate funds for 24x7 water supply.
Top Markets- Rental Yield
Top Markets- Rental Demand
Top Markets- Rental Availability
PUNE
Rental Yield Hadapsar stands out in terms of maximum rental yield owing to its proximity to the IT/ITeScompanies along with its new counterpart Kharadi.
Rental Trends• Locational advantage and
proximity to IT parks of Hinjewadi continue to drive rental supply in Wakad and Baner.
• Proximity to Airport along with employee hubs including industrial zones and IT Parks drive rental activity in WadgaonSheri, Viman Nagar and Wagholi.
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