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REALTY SNAPSHOTSPage 01
Key Insights
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Key Insights
Page 01 REALTY SNAPSHOTS
In Mumbai Metropolitan Region (MMR), the micro-markets of Thane, Beyond Thane and Navy Mumbai ruled the roost, accounting for around 52% of the total absorption and 55% of the total supply witnessed in MMR during the 12 months’ period from Jan’16 to Dec’16
Four out of the top 15 localities in MMR belong to the micro-market of Western Suburbs. The development of commercial establishments over the years has increased the popularity of Western Suburbs as a residential area; this micro-market has the majority of the working population of MMR
Self-contained satellite township, Navi Mumbai has emerged as fourth out of the top 9 micro-markets. Excellent social and physical infrastructure have enhanced the attractiveness of this micro-market
Thane West, Chembur, Dombivali, Mira Road East and Powai have emerged as the top performing localities due to high absorption & launches, moderate inventory overhang, good livability score and presence of well established social and physical infrastructure
Chembur and Powai have emerged as two of the most promising localities in MMR with low inventory overhang levels of 21 months and 24 months respectively. Both Chembur and Powai share good connectivity with the Bandra Kurla Complex (BKC), one of the major commercial centers in Mumbai
The localities of Mira Road East and Vasai are poised for higher growth in short to medium term with relatively low inventory overhang of around 31 months, decent livability score of over 70 and moderate price ranging between Rs. 4,500 - Rs. 7,500 per sq.ft.
Badlapur East and Ambernath East are the preferred choice for the middle income group of home buyers. The availability of large land parcels at relatively cheaper prices have resulted in large scale developments in the vicinity
Several transport infrastructure projects were implemented in Mumbai in the last two years including the SCLR, the Wadala-Chembur Monorail and the Versova-Andheri-Ghatkopar metro corridor. This has led to improved East-West connectivity thereby having a positive impact onthe performance of adjoining residential markets
REALTY SNAPSHOTSPage 01
Key Insights
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Page 02 REALTY SNAPSHOTS
Mumbai Fact File
Popularly known as the ‘Financial Capital of India’ due to the concentra-tion of major financial institutions such as Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, SEBI, etc.
The economy of the region is primarily driven by IT/ITeS, BFSI, Manufacturing, Entertainment & Fashion industries
The wealthiest city of India, Mumbai recorded a nominal GDP of US$278 billion in the year 2014
Mumbai Metropolitan Region is spread over an area spanning 4,355 sq.km. with 22 urban local bodies
As per the census of 2011, Mumbai is the most populous city in India
Demographic Indicators (Census 2011)
Population (million) 18.4
Male (million) 9.9
Female (million) 8.5
Sex Ratio (per ‘000) 863
Average Literacy (%) 89.8
Industrial Overview
Mumbai accounts for 25% of industrial output, 70% of maritime trade and 70% of capital transactions to Indian economy
During 2014-15, total cargo tra�c of Maharashtra handled by Mumbai Port Trust and Jawaharlal Nehru Port Trust was 40.3% and 41.7% respectively (Economic Survey 2015-16)
SEEPZ-SEZ is an export processing zone, it is developed across 111 acres and houses several electronic and gems & jewelry industrial unitsinclud-ing 7 Standard Design Factories and 3 Gems & Jewelry Factories
Commercial OverviewBFSI / IT&ITES
The two prominent financial centers in the city are Nariman Point and Bandra Kurla Complex (BKC) housing major financial institutions such as NSE, NABARD, IL&FS, Dena Bank, Citigroup, JPMorgan Chase, Bank of India, Canara Bank, Standard Chartered Bank, State Bank of India
Key IT landmarks include Marol MIDC Industrial Area, Technopolis Knowl-edge Park, Lokhandwala Industrial Area, Mindspace, International Infotech Park at Vashi, Technology Centre at Belapur, Millennium Business Park at Mhape and the IT Hardware Park at Dronagiri
Mumbai Metro – 172 km long project to be implemented in three phases across 8 lines / corridors
Mumbai Trans Harbour Link (MTHL) – A 22.5-Km-long, 6-lane bridge with an estimated cost of the Rs.17,500 crore aims to reduce commute time from Island City to Navi Mumbai by 30 minutes; Expected completion 2019
Coastal Roads – Proposed 8 lane, 29.2 km long road from Nariman Point in South Mumbai to Kandivali in the Western Suburbs; the project is likely to be completed in 3 years
Versova–Bandra Sea Link – To be developed at a cost of Rs.5,975 crore, the project is expected to be completed by 2019, to serve as a freeway corridor
Navi Mumbai Metro – Proposed 5 lines across three phases; Phase - 1 (Belapur to Pendhar) is expected to be operational by the end of 2017
Mono Rail – The project with a length of 20 km is being undertaken at a cost of Rs.2,460 crore by MMRDA; Phase - 1 is already operational from Feb’14 while Phase - 2 is likely to be commis-sioned by June 2017
Navi Mumbai International Airport – Spread over 2,866 acres, the airport would be one of world’s largest ‘Greenfield’ international airports and will generate 1.42 lakh new jobs directly, along with another 2 lakh indirect jobs; The project has been awarded to GVK Group in Feb 2017 and construction is expected to commence soon
Multimodal Corridor Virar-Alibaug – The 126 km Virar-Alibaug corridor will connect NH-8, Bhiwandi Bypass, NH-3, NH-4 and NH-4B, Mumbai-Pune Expressway, NH-17, etc.
Line 1 of length 11.4 km is already operational from Jun’14
Line 2, Line 3 and Line 4 are expected to be commissioned between 2017 to 2023
Proposed to be commissioned in two phases, the estimated cost of the project is about Rs.12,975 crore
Big Infra Push
REALTY SNAPSHOTSPage 01
Key Insights
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Micro Markets Rankings
Page 03 REALTY SNAPSHOTS
Map is for representation purpose only, not to scale
1
9
4
7
Beyond Thane39 | 3,566 | 27%
Beyond Panvel81 | 3,347 | 3%
Navi Mumbai34 | 7,610 | 14%
2Central & Eastern Suburbs38 | 17,694 | 13%
8South Mumbai55 | 37,539 | 2%
6Mumbai Harbour26 | 21,234 | 5%
3 Western Suburbs32 | 23,562 | 13%
Mira Road & Beyond39 | 4,778 | 13%
5Thane36 | 8,667 | 11%
Micro Markets ranked on Absorption, Launches, Inventory Overhang and Livability Score
Rank
R Inventory Overhang (Months) | Wt. Avg. Absorption Price (Rs./sq.ft.) – Dec’16 | % Contribution
in Unit Sales (Jan’16 to Dec’16)
Thane
5
Western Suburbs
Central & Eastern Suburbs
4
Mira Road &Beyond
6
Micro Markets Ranked on % Price Change
Beyond Panvel
7
Navi Mumbai
81
South Mumbai
BeyondThane
2
3
Mumbai Harbour
Thane
54
Western Suburbs
Navi Mumbai
6
Micro Markets Ranked on Livability Score
Mira Road &Beyond
7
BeyondThane
81
South Mumbai
Mumbai Harbour
2
Central & Eastern Suburbs
3
Beyond Panvel
Micro Markets Ranked on Absorption
5
Western Suburbs
4
Mira Road &Beyond
6
ThaneMumbai Harbour
7
Beyond Panvel
8
BeyondThane
1
Navi Mumbai
2
Central & Eastern Suburbs
3
South Mumbai
9
9
9
Absorption
Launches % Price Change
Livability Score
Inventory Overhang
Micro marketIt is defined as zonal division of a city, arrived as an aggregate of localities within a defined geographical boundary or on the basis of similar real estate characteristics.
Weighted average evaluation of the social infrastructure in a given region, comprising educational institutions, health care and retail outlets.
No. of months required for the unsold units to be completely sold o� at the current rate of absorption.
Dec’16 over Dec’15
Sales during Jan’16 to Dec’16
New launches during Jan’16 to Dec’16
Overall micro market ranking is based on the weighted average of four parameters for each micro market: Absorption, Launches,Inventory Overhang and Livability Score in accordance with their positive/negative correlation with the overall health of the micro market.
Note: Period of analysis Jan’16 - Dec’16
REALTY SNAPSHOTSPage 01
Key Insights
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Top - 15 Localities
Page 04 REALTY SNAPSHOTS
Thane West36 | 8,667 | 84
Vasai32 | 4,750 | 7113
6
12
10
5
2
7
9
15
1
8
3
4
14
Mira Road East31 | 7,272 | 80
Bhiwandi35 | 3,778 | 67
Dombivali26 | 5,258 | 76
Badlapur East21 | 3,253 | 70
Ambernath East30 | 3,362 | 71
Kharghar31 | 8,187 | 81
Ulwe18 | 5,994 | 70
Chembur21 | 16,550 | 98
Powai24 | 16,934 | 93
Goregaon West32 | 14,528 | 87
Malad East46 | 13,037 | 86
Kandivali West22 | 13,110 | 83
Dahisar28 | 12,082 | 8011
Map is for representation purpose only, not to scale
Locality
Inventory Overhang (Months) | Wt. Avg. Absorption Price (Rs./sq.ft.) - Dec’16 | Livability ScoreRank Overall locality ranking is based on the weighted average of four parameters for each locality: Absorption, Launches, Inventory Overhang and Livability Score in accordance with their positive/negative correlation with the overall health of the locality.
R
Note: Period of analysis Jan’16 - Dec’16
REALTY SNAPSHOTSPage 01
Key Insights
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Micro Market Categorization
Page 05 REALTY SNAPSHOTS
Micro Market
Western Suburbs
Localities
Andheri West, Bandra West, Borivali East, Borivali West, Dahisar, Goregaon West, Jogeshwari West, Juhu, Kandivali East, Kandivali West, Khar, Mahim, Malad East, Malad West, Santacruz West, Ville Parle East, Ville Parle West
Central & Eastern Suburbs
South Mumbai
Mumbai Harbour
MiraRoad & Beyond
Andheri East, Bandra East, Bandra Kurla Complex, Bhandup East, Bhandup West, Dharavi, Ghatkopar East, Ghatkopar West, Goregaon East, Jogeshwari East, Kanjurmarg, Kurla, Matunga, Mulund East, Mulund West, Powai, Santacruz East, Sion, Vikhroli
Agripada, Babulnath Road, Colaba, Dadar East, Dadar West, Fort, Girgaon, Lower Parel, Mahalaxmi, Napeansea Road, Parel, Peddar Road, Prabhadevi, Tardeo, Worli
Bhayandar East, Bhayandar West, Boisar, Manor, Mira Road East, Naigaon East, Nala Sopara, Palghar, Saphale, Uttan, Vasai, Virar
Thane Thane East, Thane West
Beyond Thane
Navi Mumbai
Ambernath East, Ambernath West, Ambivali, Asangaon, Badlapur East, Badlapur West, Bhiwandi, Diva, Dombivali, Kalyan East, Kalyan West, Karjat, Khardi, Murbad, Navgaon, Neral, Shahapur, Sil Phata, Titwala, Ulhasnagar, Vajreshwari, Vangani, Vasind, Warai
Airoli, Belapur, Dronagiri, Ghansoli, Kalamboli, Kamothe, Karanjade, Kharghar, Koperkhairane, Navade, Nerul, Panvel, Sanpada, Seawoods, Taloja, Turbhe, Ulwe, Vashi
Beyond Panvel Chowk, Kewale, Khalapur, Khandala, Khopoli, Koproli, Pen, Rasayani, Umroli
Byculla, Chembur, Deonar, Mazagaon, Sewri, Wadala
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ANURAG JHANWAR, MRICS
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