4
PropIndex | Magicbricks PuneJuly-Sep 2020
Residential Market Insights
Pune residential demand back on track
With the lockdown gradually opening since mid June, Pune witnessed a significant uptick in real estate demand inthe quarter ending September 2020. The overall searches, which saw a dip of ~40% in Q2, increased by 35% in Q3,indicating that demand in Pune market has surpassed the pre-COVID level.
As the developers remained focussed on completing ongoing projects rather than launching new ones, we expect thedemand-supply gap to further narrow in the coming festive season. The discounts and freebies being offered bymajority of developers and a 3% reduction in the stamp duty should push the buyers to conclude deals.
Market DynamicsParameters India Pune
Demand+ 53.1% 35.0%Supply++ -9.1% -7.0%Price Index+++ 0.3% -0.2%
Notes:Above parameters represent QoQ change in Q3 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price
Source: Magicbricks Research
Ready to Move Price Index
2016
2017
2018
2019
2020
2021
5,000
6,000
7,000
8,000
Average Price INR per sqft
"Preference for readyto move propertiesarrested any pricedecline in this
segment on a QoQbasis"
5 Years YoY QoQ
-0.2%-2.6%2.7%
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research
Key Developers based on activelistings
Kolte-Patil Developers Ltd.
Godrej Properties
VTP Realty
Pride Purple Properties
Mantra Properties
Marvel Realtors
Majestique Landmarks
Goyal Ganga Group
Kumar Properties
Paranjape Schemes Construction #
#
#
#
#
#
#
#
#
#
Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q32020
Source: Magicbricks Research
Under Construction Price Index
2016
2017
2018
2019
2020
2021
5,000
6,000
7,000
8,000
Averge Price INR per sqft
"TheUnder-constructionsegment witnessed amoderate price
increase of 0.7% QoQ."
5 Years YoY QoQ
0.7%-0.1%6.3%
Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city.
Source: Magicbricks Research
Key Projects
Project Name Locality
Nanded City Sinhagad Road
Future Towers Amanora Park Town
Neo Towers Amanora Park Town
Lodha Belmondo Mumbai Pune Hwy
Marvel Zephyr Kharadi
Kanchi Enclave Chakan
Skyi Song Birds Bhugaon
F Residences New Kalyani Nagar
Amanora Aspire Hadapsar
Xrbia Hinjewadi Hinjewadi
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q3 2020
Source: Magicbricks Research
Average changes in prices for localities in various price segments
< 5,000 5,000-7,500 7,500-10,000 > 10,000
RM UC RM UC RM UC RM UC
-0.3%
2.2%
-0.2%
0.5%
-1.2%
0.3%
-1.1%
3.3%
"Prices witnessedstagnation or a minordip in ‘below INR 10,000
per sqft'."
Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties for dominant asset classes in each locality under various pricebuckets as on Sep 2020
Source: Magicbricks Research
In the News
- The Ready Reckoner rates inLohegaon, Pune Cantonment, BhavaniPeth, Pasan and Bibwewadi have beenincreased by 15-20%. This wouldincrease the cost of houses in theseareas
- In the long run, the proposedPune-Nashik Semi high-speed railcorridor expected to foster residentialdevelopment in Dighi, Bhosari, Dhanori,Talegaon, Yerwada, and Hadapsar
- The upcoming New Pune Airport wouldraise residential demand from thefringe areas such as Saswad, UruliKanchan, Loni Kalbhor, and Fursungi
© magicbricks.com Page 1
Demand Supply Analysis Pune | July-Sep 2020
1 BHK19%
2 BHK49%
3 BHK26%
Above 3 BHK6%
DEMAND
Above 3 BHK5%
3 BHK26%
2 BHK53%
1 BHK17%
SUPPLY
7,500-10,00018%
5,000-7,50055%
> 10,0008% < 5,000
20%
SUPPLY
Hinjewadi Phase 3
Charholi Budruk
Loni Kalbhor
Dehu Road
Phursungi
BhugaonPirangut
Lohgaon
Gahunje
Chikhali
Bhosari
Pashan
Pimpri
Manjri
Katraj
Moshi
Pisoli
Dighi
Sus
Wagholi
Baner
Wakad
Kharadi
Hadapsar
© 2020 Mapbox © OpenStreetMap
Propensity of demand and supply in terms of searches andlistings by localities
Top Micromarkets by Consumer Searches
Airport Road 5500-12000
Wakad 5500-8100
Hadapsar 4400-9800
Baner 5000-9700
Kondhwa-Wanwadi 4500-10200
Pimple Saudagar 4700-8200
Undri-Pisoli 3600-7000
11
32
23
54
45
106
77
Micro Market Price Range RankQ3-20
RankQ2-20
Baner 5000-9700
Airport Road 5500-12000
Wakad 5500-8100
Hadapsar 4400-9800
Hinjewadi 4000-6800
Ravet 4600-6700
Undri-Pisoli 3600-7000
11
22
33
54
45
86
67
Micro Market Price Range RankQ3-20
RankQ2-20
Top Micromarkets by active listings
Infrastructure enhancementsdriving the housing demand
Pune is one of the most matured real estatemarkets, with supply in line with demand for mostof the configurations and price brackets.
"2 BHK between INR 5,000 and7,500 per sqft continued todominate property searches in
Pune"
- With a host of infrastructure projects to easeconnectivity including the New Pune InternationalAirport, Pune Nashik Semi-High Speed Rail, andplanned and under-construction Pune Metrocorridors, the localities around the fringe of thecity and Pimpri-Chinchwad, such as Undri, Saswad,Dhanori, and Dighi continued to garner demand.
- Our data showed an increase in demand forlocalities priced between INR 5,000-7,500 per sqftsuch as Hadapsar, Baner, Kondhwa, Wakad andPimple Saudagar on the back of growing industrialand IT/ITeS presence surrounding them. Further,as the IT sector recovers from the financial crises,and the boosted industrial development throughthe ‘Made in Maharashtra’ campaign, an influx ofresidential projects is expected in these areas.
- Additionally, peripheral localities such asWagholi, Vadgaon Budruk, Shivane and CharholiBudruk priced below INR 5,000 per sqft, saw adrop in demand owing to the buyers realizing theimportance of better civic amenities, retailfacilities, and public transport available within thecity limits.
Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by BHK configuration
Source: Magicbricks Research
Demand shifting back to 2BHK configuration
Half of the demand and supply within the INR 5,000-7,500 per sqft price range
Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by price buckets
Source: Magicbricks Research
Note:1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) forproperties in the localities on Magicbricks website in Q3 20202. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Demand/SupplyDemand
7,500-10,00018%
5,000-7,50048%
> 10,00011% < 5,000
23%
DEMAND
© magicbricks.com Page 2
Price Analysis Pune | July-Sep 2020
Q3 2020 | Price Changes in key Localities
Locality Avg. Price PriceChange
Alandi
Chakan
Charholi Budruk
Dehu Road
Dhayari
Handewadi
Kiwale
Loni Kalbhor
Moshi
Narhe
Phursungi
Pirangut
Pisoli
Shivane
Vadgaon Budruk
Wagholi -6.7%
-7.5%
-3.2%
4.6%
-0.5%
-2.3%
1.8%
1.3%
0.0%
2.2%
0.2%
0.6%
-1.3%
-3.5%
1.8%
3.7%
4,776
4,490
4,249
4,601
4,142
4,641
4,818
4,941
3,812
4,984
4,473
4,946
4,984
4,980
3,619
4,424
Locality Avg. Price PriceChange
Airport Road
Akurdi
Ambe Gaon
Anand Nagar
Balewadi
Balewadi Gaon
Baner Road
Bavdhan
Bhosari
Bhugaon
Chikhali
Chinchwad
Dattwadi
Dhankawadi
Dhanori
Dighi
EON Free Zone
-3.1%
1.2%
0.0%
7.5%
4.8%
-0.8%
3.0%
6.6%
-1.4%
-1.8%
-1.7%
-2.6%
0.3%
-1.6%
-1.2%
-0.3%
1.8%
-5.0%
-1.2%
0.0%
0.2%
3.0%
-0.7%
-1.3%
-0.8%
-3.4%
-0.6%
3.9%
-0.3%
0.7%
3.8%
-3.9%
-0.2%
0.2%
-7.5%
-1.9%
0.6%
-2.8%
-0.9%
2.0%
-1.0%
-0.3%
-0.8%
-2.3%
1.1%
-0.4%
-2.9%
-1.9%
-1.0%
7.5%
2.2%
0.0%
-0.2%
6,708
7,444
6,623
7,238
7,023
5,105
5,924
6,782
5,988
5,790
6,564
5,507
5,625
6,685
5,340
6,386
6,614
6,244
7,023
6,294
5,656
6,296
5,051
5,257
5,243
5,033
5,875
5,380
5,657
6,996
6,275
5,461
6,697
5,717
6,153
5,326
7,019
5,310
5,452
5,401
6,017
6,686
5,011
5,741
5,870
6,702
7,328
7,155
6,970
6,751
5,708
6,778
7,118
Locality Avg. Price PriceChange
Aundh
Baner
Baner Gaon
Bhusari Colony
Bibwewadi
Ghorpadi
Gultekdi
Kalyani Nagar
Karve Nagar
Magarpatta City
Market Yard
Pimple Nilakh
Sadashiv Peth
Viman Nagar
Wanwadi 0.3%
-1.6%
-3.4%
-0.4%
-5.6%
-2.0%
-7.5%
0.6%
-7.5%
-4.4%
4.0%
1.7%
7.5%
0.4%
-0.4%
7,816
8,249
9,865
7,738
8,467
8,370
9,075
9,841
8,724
8,861
8,296
9,874
8,145
7,703
9,228
Locality Avg. Price PriceChange
Erandwane
Koregaon Park
Kothrud
Model Colony
Prabhat Road
Shivaji Nagar 6.7%
1.6%
6.1%
0.0%
2.3%
3.2%
13,625
15,325
13,910
10,099
11,232
12,733
< INR 5,000 psf INR 5,000-7,500 psf INR 7,500-10,000 psf > INR 10,000 psf
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q3 20202. Color of the bubble represents price change in Q3 2020, with green color representing price increase and red color price decrease.3. This is an interactive map available on Magicbricks.com under Propindex section.Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
- Being an industrial city, localities surrounding industrial areas, including Mundhwa, Alandi, Bibwewadi and Wadgaon Sheri, among others, witnessed some ofthe highest price rises in the range of 3% to 8%.
- Localities including Baner Gaon, Anand Nagar, Pisoli and Lohegaon, among others, situated along major highways such as Pune –Mumbai Highway, SolapurRoad and Nagar Road also witnessed increase in prices in the range of 3% to 8 %.
Source: Magicbricks Research
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q3 2020. This is an interactive table available on Magicbricks.com under Propindex section.2. The locality prices are calculated by averaging the prices of all properties in a locality in multi-storey and builder floor segment, after removing the outlier properties that might distort the overall prices.3. The four tables above categorize the localities in various price buckets.4. The color of the numbers represents the price change in Q3 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research [email protected] [email protected] [email protected] [email protected]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
Disclaimer: The data represented above is compiled by MagicBricks from multiple sources. MagicBricks gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does not acceptany liability on the information which may or may not be subject to change from time to time due to Governmental or non Governmental regulations/directions.
For more information and research related queries, please contact:
Hinjewadi Phase 30.1%
Charholi Budruk-3.5%
Loni Kalbhor0.0%
Mahadev Nagar-Dhayari
Senapati Bapat Road
Kondhawe-Dhawade
Phursungi-2.3%
Bhugaon-2.3%
Pirangut-0.5%
Lohgaon3.9%
Clover Park View
Chinchwad Gaon
Gahunje-1.9%
Koregaon Bhima
Kothrud0.0%
St Nagar-Moshi
Bhosari1.1%
Pashan-1.2%
Bhosale Nagar
Bhekrai Nagar
Wadachi Wadi
Uruli Kanchan
Kasar Amboli
Manjri-0.8%
Loni Kalbhor
Katraj-3.9%
Alandi Road
Dighi-2.8%
Sus-1.8%
Spine Road Sanaswadi
Wadebolai
Kasarwadi
Talawade
Lonikand
Kesnand
Charholi
Bhukum
Dapodi
BopodiKhadki
Wadki
Camp
Nigdi
Wagholi-6.7%
Hadapsar-7.5%
Kharadi0.7%
Baner0.4%
Wakad0.0%
Ravet0.3%
© 2020 Mapbox © OpenStreetMap
-7.5% 7.5%
© magicbricks.com Page 3
-5% -2.5% 0% 2.5% 5%
