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PropIndex | Magicbricks
Residential Market Insights
Supply matching demand but buyers are still at bay
Despite demand matching supply, affordability, and lower interest rates, NOIDA and Greater NOIDA markets are struggling topick up. There is substantial ready inventory available in the secondary market at a discount of 10 to 20% from its peak, butdemand is yet to pick up.
We spoke to a couple of buyers in NOIDA and Greater NOIDA and concluded that higher transfer charges payable to authorityand developers in the secondary market is one of the primary reason that is detrimental to demand conversion. The transfercharges and other expenses such as stamp duty, registration cost and brokerage constitute about 10-15% of the total cost ofthe apartment, which makes it financially unviable for an investor and unaffordable for end-users.
5 YearChange YoY QoQ
2.5%5.5%3.6%
-1.4%1.8%-10.6%
5 YearChange YoY QoQ
-2.4%-1.4%6.3%
1.0%1.1%-1.5%
"Unlike the overallprice change, the UCproperty pricesremained almostunchanged YoY ."
NOIDA, Gr. NOIDAQ4 2019
Parameters India Noida-G.Noida
Demand+ +4.0% -3.0%Supply++ +1.5% +3.5% Price Index+++ +1.2% -0.4%
" While NOIDA averageprices fell by 10%,Greater NOIDA
witnessed an increaseof 3.6% in last 5 years"
Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019 ++ represents the QoQ change in volume of activelistings on Magicbricks website in Q4 2019 +++ represents the QoQ change in the weighted averageprice at India and city level..
Key Developers based onactive listings
ATS Infrastructure
Supertech Limited
The Antriksh Group
Godrej Properties
Eros Group
Omaxe Ltd.
Eldeco Group
Ambience Group
RWA Developer
Unitech Group
Key Projects based onconsumer searches
Cleo County Sector 121
Gaur City 2 Noida Extension
Paras Tierea Sector 137
Cherry County Noida Extension
Mahagun Mywoods Noida Extension
Mahagun Moderne Sector 78
Supertech Eco Village 1Noida Extension
Gaur Saundaryam Greater Noida ..
Saviour Greenarch Noida Extension
Supertech Capetown Sector 74
Price Bracket (INR/sqft)
<4,000 4,000-5,000 5,000-6,000 >6,000
RM UC RM UC RM UC RM UC
QoQ changes in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- Developer focus is expected to remainon completion of projects in 2020.Projects from Logix, Jaypee, & Amrapaliare likely to see a revival afterestablished developers like ATS andNBCC took their projects forcompletion.
- Buyers are likely to continuepreferring ready to move properties inthe primary market (directly fromdevelopers) due to no transfer chargesassociated with them.
- Long-term boost expected due to thedevelopment of JEWAR Airport.
"Price appreciation isprimarly visbile in subINR 4000 per sq ftsegment showingbuyers' resistencetowards any priceincrease "
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
Month of Date
2,000
3,000
4,000
5,000
6,000
Min. Price INR psf
2014
2015
2016
2017
2018
2019
2020
2,000
3,000
4,000
5,000
6,000
Avg. Price psf
Average Price INR psf
Average Price INR psf
Note:The above table represents the top developers by numberof active listings on Magicbricks website in Q4 2019
Source: Magicbricks Research
Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q4 2019
Source: Magicbricks Research
Notes:1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only Source: Magicbricks Research
Notes:1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only
Source: Magicbricks Research
Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets
Source: Magicbricks Research
Page 1© magicbricks.com
Noida
Greater Noida
Noida
Greater Noida
1 BHK8%
Above 3 BHK9%
3 BHK46%
2 BHK37%
DEMAND
Demand Supply Analysis Noida,Gr. Noida Q4 2019
Affordable properties attracting demand
Demand and supply concentrated in 2 and 3BHK configurationsSupply is sufficently meetingdemand
In NOIDA and Greater NOIDA, both the searchesand listings were concentrated in 2 and 3 BHKconfiguration, which makes more than 85% ofthe demand and supply pie.
"Due to affordable investmentticket size, consumer preferenceis primarily in the 2BHK and3BHK segment contradictory toTier I cities such as Delhi and
Mumbai."
- About half of the searches on our website in Q42019 were concentrated in below INR 4000 persq ft segment.
- With the city average prices of NOIDA at INR4900 per sq ft and Greater Noida at 3700 per sqft, completed projects in Greater NOIDAwitnessed most of the momentum.
- NOIDA 7x Sectors and NOIDA Expresswayremained the top-performing micro markets. Inour opinion, affordability, availability of optionsand connectivity were the primary demanddrivers in these locations.
- The properties above INR 6000 per sq ftwitnessed minimum searches online showingthe consumer sensitivity to price points.
Top micromarkets by consumersearches
Propensity of demand and supply in terms of searchesand listings by localities
1 BHK4%
Above 3 BHK11%
3 BHK50%
2 BHK36%
SUPPLY
5000-600017%
4000-500022%
>600014%
<400047%
SUPPLY Price buckets in INR per sqft
Top micromarkets by activelistingsa
5000-600016%
4000-500021%
>600012%
<400051%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration
Source: Magicbricks Research
.Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q4 2019, 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 Q4 20192. 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. Micro-markets of the city, ranked by their active listings onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Note:1. Micro-markets of the city, ranked by number of searches onMagicbricks in Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.3. Noida Exprway Main stretches from Sector 44 till Sector 93B
Source: Magicbricks Research
Greater Noida West
Sector 62 Block B
Vivek Vihar
Sector 16B
Sector 134
Sector 150
Sector 151
Omicron 1
Omicron 3
Tech Zone
Omega 1
Sector 1
© OpenStreetMap contributors
Demand/SupplySupply
Noida 7X 3750 - 6525
Noida Expway South 2667 - 6123
Noida Expway Main 2158 - 9964
Vikas Marg 2314 - 8215
Central Noida 5119 - 8183
Omega-Chi-Phi 3400 - 4967
Greater Noida West 3046 - 4134
11
22
33
44
55
66
87
Noida 7X 3750 - 6525
Noida Expway South2667 - 6123
Noida Expway Main 2158 - 9964
Vikas Marg 2314 - 8215
Jaypee Wish Town 3403 - 7642
Greater Noida West 3046 - 4134
Central Noida 5119 - 8183
11
22
33
44
55
66
97
Micro-Market Price Range Q4 Rank Q3 Rank
(Price in INR per Sqft)
Micro-Market Price Range Q4 Rank Q3 Rank
Page 2© magicbricks.com
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 20192. Color of the bubble represents price change in Q4 2019, 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.
Locality NameAvgPrice
PriceChange
Sadarpur
Eta 2
Noida Extension Bl..
Techzone 4
Noida Extension Bl..
Sector 151
Sector 49
Omicron 3
Sector 2
Omicron 1
Sector 1
Noida Extension Bl..
Tech Zone
Sector 134
-1.8%
5.1%
4.9%
2.5%
1.9%
-7.2%
5.4%
-4.5%
-4.8%
-0.9%
-0.1%
-6.8%
-4.3%
6.1%
4.1%
-5.8%
5.1%
-4.9%
-4.2%
2.7%
-1.2%
3,567
3,927
3,823
3,542
3,444
2,807
3,959
3,908
3,671
3,562
3,534
3,488
3,458
3,348
3,330
3,150
3,757
3,522
3,495
2,895
2,804
< INR 4,000 psf INR 4,000-5,000 psf INR 5,000-6,000 psf > INR 6,000 psf
Price Analysis Noida,Gr. Noida Q4 2019
- In sub INR 4000 per sq ft range, there are very limited options available in NOIDA. - For affordable range below INR 4000 per sq ft, one has to look for Greater NOIDA localities such as Noida Extension, Tech Zone IV, Chi 5.- Most of the developing localties in Central Noida and NOIDA Expressway fall in the price bracket of INR 5000 to 7000 per sq ft.
Source: Magicbricks Research
Yamuna Expressway2.5%
Sector 1505.0%
Sector 168-3.4%
Omicron 1-6.8%
Sector 1-0.1%
© OpenStreetMap contributors
LocalityName Avg Price
PriceChange
Sector 104
Sector 93b
Sector 121
Sector 44
Sector 45
Sector 29
Sector 50
Sector 107
Sector 108
Sector 61 -7.1%
4.5%
4.4%
-1.7%
-6.3%
4.2%
-6.6%
4.0%
-3.9%
-6.9%
6,038
6,321
6,413
6,545
6,599
6,621
6,772
6,814
6,986
8,724
-7.5% 7.5%
Avg. Rm-Pc
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. 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 represent the price change in Q4 2019, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research
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.
Q4 2019 Price changes for the city's major localities
Locality Name Avg PricePrice
Change
Chi 4
Pari Chowk
Sector 70
Sector 74
Sector 110
Sector 118
Sector 119
Sector 135
Sector 143
Sector 143 B
Sector 168 -3.4%
4.0%
1.6%
-7.6%
-3.4%
-7.2%
-7.5%
-2.2%
3.9%
-1.3%
-3.3%
4,651
4,879
4,941
4,043
4,762
4,530
4,998
4,941
4,646
4,107
4,343
LocalityName Avg Price
PriceChange
Sector 62
Sector 75
Sector 76
Sector 77
Sector 78
Sector 79
Sector 82
Sector 93
Sector 93a
Sector 100
Sector 120
Sector 137
Sector 150
Surajpur 2.6%
5.0%
0.8%
-5.4%
0.7%
-6.0%
-7.3%
1.9%
4.6%
-0.2%
2.0%
-0.4%
1.1%
-6.7%
5,171
5,461
5,097
5,050
5,509
5,848
5,658
5,149
5,298
5,480
5,415
5,265
5,252
5,025
For more information and research related queries, please contact:
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant [email protected] [email protected] [email protected] [email protected]
Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com
