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PropIndex | Magicbricks HyderabadJuly-Sep 2020
Residential Market Insights
Search volumes for Plots and Independent houses fully recover
The Hyderabad residential market witnessed a speedy recovery in search volumes in Q3 2020. According toMagicbricks data, the searches for plots and independent houses have fully recovered to Pre-Covid levels whilesearches for apartments are picking up and inching towards Pre-Covid levels.
Prices in the residential market which witnessed a 5.2% decline in Q2 2020 have also started recovering andobserved a 1.9% QoQ increase in Q3 2020. The demand remained concentrated in the western and north westernsuburbs and peripheral regions in localities such as Kukatpally, Hitech City, Kompally and Madhapur. The governmentinitiatives should support the recovery of Hyderabad real estate in the short term.
Market DynamicsParameters India Hyderabad
Demand+ 53.1% 47.8%Supply++ -9.1% -8.8%Price Index+++ 0.3% 1.9%
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
2,000
3,000
4,000
5,000
6,000
Average Price INR per sqft
"Ready to moveproperties saw
moderate increase inprices by 1.9% in Q3
2020."
5 Years YoY QoQ
1.9%1.6%59.6%
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
Aliens Group
Incor Infrastructure
Aparna Constructions
SMR Holdings
Lansum Etania Developers
Lodha Group
My Home Group
NCC Urban Infrastructure
Urban Yards
Cybercity Builders
Fortune Green Homes #
#
#
#
#
#
#
#
#
#
#
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
2,000
3,000
4,000
5,000
6,000
Averge Price INR per sqft
"Construction activityhas resumed, but pricesremained almost
constant, as developersrestrained from anyprice increase duringpandemic times."
5 Years YoY QoQ
0.2%2.5%36.2%
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
Lodha Meridian Kukatpally
Aparna Serene Park Kondapur
My Home Avatar Narsingi
Twin Olives Miyapur
Bhanu Embassy Kukatpally
Aditya Imperial HeightsHafeezpet
My Home Vihanga Gachibowli
Lotus Residency Thumukunta
My Home Bhooja Hitech City
Prajay Megapolis Hafeezpet
Hallmark Silvanus Manikonda
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
< 4,000 4,000-5,000 5,000-6,000 > 6,000
RM UC RM UC RM UC RM UC
-0.7%
0.9%
-0.4%
-2.8%
1.4%
0.7%
2.2%2.5%
"Price increasewitnessed for
properties that wereabove INR 5,000 persqft in ready-to-moveand under-construction
categories."
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
- According to secondary sources, Googlehas planned to take up over 2 million sq ftcommercial space in Hyderabad and isexpected to create several new jobopportunities, a positive for the residentialreal estate market in Hyderabad.
- After an active 2019, the Hyderabadoffice market witnessed a steep fall incommercial leasing due to the pandemic.However, this looks like a temporarysetback and the GRID (Growth inDispersion) policy by the state governmentis expected to spread IT developmentacross the under-developed zones in thelong-term.
© magicbricks.com Page 1
Demand Supply Analysis Hyderabad | July-Sep 2020
1 BHK3%
2 BHK50%
3 BHK42%
Above 3 BHK4%
DEMAND
Above 3 BHK6%
3 BHK48%
2 BHK44%
1 BHK2%
SUPPLY
5,000-6,00019%
4,000-5,00022%
> 6,00033%
< 4,00025%
SUPPLY
Rajendra Nagar
Hasthinapuram
Suchitra Circle
Patancheruvu
Appa junction
Dammaiguda
Thumukunta
Turkayamjal
Patancheru
Bachupally
Shamirpet
Ghatkesar
Pocharam
Malakpet
Moula Ali
Kompally
Adibatla
Tellapur
Sun City
Isnapur
Nagole
Mokila
Yapral
Kollur
Uppal
Gachibowli
Kukatpally
© 2020 Mapbox © OpenStreetMap
Propensity of demand and supply in terms of searches andlistings by localities
Top Micromarkets by Consumer Searches
Gachibowli 3900-8500
Kukatpally 4000-8900
Miyapur 2800-5600
Kondapur 5200-8100
Medchal Highway 5200-7700
Mehdipatnam 3500-8300
Uppal 2800-5800
11
32
23
44
55
76
67
Micro Market Price Range RankQ3-20
RankQ2-20
Gachibowli 3900-8500
Kukatpally 4000-8900
Kondapur 5200-8100
Miyapur 2800-5600
Mehdipatnam 3500-8300
Jubilee Hills 6400-14400
Uppal 2800-5800
11
22
43
34
55
76
67
Micro Market Price Range RankQ3-20
RankQ2-20
Top Micromarkets by active listings
Gachibowli and Kukatpally continue tobe realty hotspots
Gachibowli and Kukatpally remained the mostsought-after micro-markets among homebuyers.The metro connectivity from Miyapur - Kukatpally -LB Nagar line, proximity to Nehru Outer Ring Roadand a good mix of affordable and premiumproperties is driving demand for residentialspaces in these localities.
"Proximity to major employment hubs,excellent metro connectivity, NehruOuter Ring Road, well-developed socialand retail infrastructure have keptwestern and north western regions
buyers' favorite."
- Nearly three-fourth of the total demand inHyderabad cater to below INR 5,000 psqft pricesegment. Supply also follows the same trend witharound 70% of active listings in the same segment.
- Around 25% of the demand constituted premiumsegments (> INR 6,000 psqft).
- 2 and 3 BHK configurations continued todominate the residential market as they accountedfor around 92% of the total demand (consumerpreference) as well as supply (active listing).
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
2BHK highest in demand followed by 3 BHK configurations
Healthy demand for properties below INR 5,000 psqft 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/SupplySupply
5,000-6,00016%
4,000-5,00024%
> 6,00025% < 4,000
35%
DEMAND
© magicbricks.com Page 2
Price Analysis Hyderabad | July-Sep 2020
Q3 2020 | Price Changes in Key Localities
Locality Avg.Price
PriceChange
Adibatla
Bachupally
Beeramguda
Boduppal
Bollaram
Kollur
Nizampet
Patancheru
Pragathi Nagar
Ramachandra Puram
Toli Chowki -7.5%
5.2%
-2.9%
7.5%
-2.8%
-2.3%
0.0%
0.0%
2.8%
2.9%
7.5%
3,761
3,517
3,927
3,191
3,948
2,690
3,099
3,716
3,433
3,543
2,442
Locality Avg. Price PriceChange
Alkapur Township
Alwal
Attapur
Bandlaguda Jagir
Cherlapalli
Gajularamaram
Manikonda
Mehdipatnam
Miyapur
New Nallakunta
Puppalaguda
Sainikpuri
Uppal -7.5%
0.0%
-3.1%
0.0%
-3.5%
0.0%
1.7%
-1.3%
0.0%
0.9%
3.4%
0.0%
3.9%
4,098
4,176
4,766
4,855
4,384
4,571
4,991
4,082
4,038
4,031
4,448
4,023
4,853
Locality Avg. Price PriceChange
Appa Junction
Begumpet
Chandanagar
Hafeezpet
LB Nagar
Madinaguda
Nagole
RajendraNagar
3.7%
0.0%
-2.0%
0.0%
0.7%
5.4%
-0.3%
5.1%
5,589
5,052
5,476
5,180
5,542
5,078
5,990
5,490
Locality Avg. Price PriceChange
Banjara Hills
Financial District
Gachibowli
Himayath Nagar
Hitech City
Jubilee Hills
Khaja Guda
Kokapet
Kondapur
Kukatpally
Madhapur
Nallagandla
Nanakram Guda
Narsingi
Shaikpet -3.1%
-0.8%
-2.8%
0.4%
7.5%
2.9%
-1.1%
3.8%
0.0%
7.5%
3.5%
0.0%
-0.7%
-1.8%
7.0%
7,135
6,154
7,027
6,009
8,937
6,068
6,630
6,154
6,775
11,335
7,949
6,361
6,958
6,943
8,254
< INR 4000 psf INR 4,000-5,000 psf INR 5,000-6,000 psf > INR 6,000 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.
- Price decrease was mostly concentrated along the IT/ITeS hubs in western fringes, in prominent localities including Gachibowli, Financial District, Nizampet,Kondapur and Miyapur.
- Premium localities such as Banjara Hills and Jubilee Hills witnessed price increment of 5-7%. 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 Kavya N | Asst. [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:
Rajendra Nagar3.7%
Appa junction5.1%
Patancheru7.5%
Boduppal0.0%
Krishna Reddy Pet
Dr A.S. Rao Nagar
Miyapur-3.5%
Attapur3.4%
K P H B Phase 5
Nandagiri Hills
Suchitra Circle
Nagole0.0%
Patancheruvu
Geetha Nagar
Dammaiguda
Thumukunta
Karmanghat
Gopanapalli
Masab Tank
Kollur-2.3%
Kavadiguda
Uppal-7.5%Barkatpura
HMT nagar
Mallampet
Habsiguda
Kismatpur
Ghatkesar
PocharamAmeerpet
Aziz Bagh
Malakpet
Kompally
Gandipet
Meerpet
Tellapur
Sun City
Isnapur
Mokila
Yapral
ECIL
Gachibowli-0.7%
Manikonda1.7%Narsingi
-0.8%
Kondapur-1.1% Kukatpally
2.9%
Hitech City3.5%
© 2020 Mapbox © OpenStreetMap
-7.5% 7.5%
© magicbricks.com Page 3
-5% -2.5% 0% 2.5% 5%
