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PropIndex | Magicbricks
Residential Market Insights
Steady residential market growth on the back of solid fundamentals
Bengaluru residential market continued to perform well on all parameters in the year 2019. The consistentlyoutperforming commercial sector in Bengaluru successfully derived demand in the residential sector as well, despitemacroeconomic voes and competition from emerging markets such as Hyderabad as an alternative IT/ITES hub in thesouth.
Both the Under-Construction (UC) and Ready-to-Move (RM) segments witnessed price increments, though, activenew project pipeline by branded developers has translated into the UC segment seeing higher price increments overthe last five years. The demand for new projects by developers such as Prestige, Sobha and Brigade continued to topthe active listings chart on Magicbricks showing preference for developers with reliable track records.
5 YearChange YoY QoQ
0.8%3.8%25.2%
5 YearChange YoY QoQ
2.2%7.4%34.5%
"Dominated by brandedbuilders with reliabletrack record, Underconstruction segmentposted a solid growthof 35% in the last 5years and 7.4% YoY."
Bengaluru Q4 2019
Parameters India Bengaluru
Demand+ +4.0% +8.5%Supply++ +1.5% +5.5% Price Index+++ +1.2% +0.8%
"Bengaluru residentialmarket has risen by astrong 25% in the last 5years and beaten thesectoral woes."
Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019 ++ represents the QoQ change in volume of active listingson Magicbricks website in Q4 2019 +++ represents the QoQ change in the weighted averageprice at India and city level
Source: Magicbricks Research
Prestige Estates
SOBHA Limited
Brigade Group
Puravankara Limited
Mahaveer Group
Godrej Properties
SNN Builders
Assetz Property Group
Provident Housing
Mantri Developers
Lakeside Habitat Whitefield
Janaadhar Shubha Attibele
Prestige Tranquility Budigere
Ittina Neela Electronic City
Sobha Dream Acres Panathur
Prestige Kew Gardens Yemalur
Prestige ShantiniketanWhitefield
Prestige Falcon City Konanakunte
SNN Raj Etternia Haralur Road
Brigade Lakefront Whitefield
Price Bracket (INR/sqft)
< 5000 5000-6000 6000-7000 > 7000
RM UC RM UC RM UC RM UC
2.4%
1.8%
2.4%
1.6%
0.3%
1.4%
0.0%-0.2%
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- Metro Lines 3, 5, and extension of line2 (expected to operational by the year2021 to 23), would connect all themajor IT corridors of the city, initiatingthe second innings of residentialgrowth
- Bengaluru has a growing plotteddevelopment market in peripherallocations, and completion of Phase II &start of Phase III metro construction tounderpin the growth in this segment
- Ongoing builder level consolidation tofurther support price and sales growth.
"The 'less than 6,000per sqft' segments
witnessed decent pricegrowth of around 2% inthe quarter, even whileprices for the premiumproperties fellmarginally "
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
2,000
4,000
6,000
8,000
10,000
Avg. Price psf
2014
2015
2016
2017
2018
2019
2020
2,000
4,000
6,000
8,000
10,000
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
Key Developers based onactive listings
Key Projects based onconsumer searches
1 BHK5%
3 BHK39%
Above 3 BHK5%
2 BHK51%
DEMAND
Demand Supply Analysis Bengaluru Q4 2019
Affordable searches surge ahead with the right environment
2BHK highest demanded followed by 3BHK configurationIT sector growth keeps theresidential growth on track
Bengaluru market has experienced steadygrowth in the last half a decade, with theend-user dominating the residential sales.
"2 and 3 BHK configurationstogether received 90% of theproperty searches in Bengaluruin Q4 2019, crowding out allother BHK configurations."
- Effects of Credit Linked Subsidy Scheme (CLSS)under the Pradhan Mantri Awas Yojna (PMAY)were visible on the market, with 41% of theconsumer searches happening in this category(less than INR 5,000 per sqft). However, veryfew locations in Bengaluru are offeringproperties costing less than INR 4,500 per sqft,limiting growth in the affordable segment.
- Bengaluru's developers have been able tomatch buyer's expectation, and no severedemand-supply mismatches witnessed in thequarter.
- The city has witnessed its premium segmentgrowth over the years, with the 'above INR7,000 per sqft' properties now making upone-fourth of the demand and supply.
- Whitefield, Sarjapur Road, Bellary Road, andElectronic City were the top 4 micro-markets inthe city, growing on the back of presence ofemployment opportunities, affordability, andairport connectivity.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searchesand listings by localities
1 BHK3%
2 BHK45%
3 BHK47%
Above 3 BHK5%
SUPPLY
6000-700018%
5000-600024%
> 700025% < 5000
34%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by activelistingsa
6000-700015%
5000-600020%
> 700024%
< 500041%
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. Top 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. Top 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.
Source: Magicbricks Research
Yelahanka Dodda Ballapur Road
Sarjapur Road
Bannerghatta
Tumkur Road
Chandapura
Devanahalli
Yelahanka
Gottigere
Budigere
Sarjapur
Hoskote
Attibele
Kengeri
Anekal© OpenStreetMap contributors
Demand/SupplyDemand
Whitefield 3659 - 8429
Sarjapur Road 3261 - 8126
Bellary Road 4026 - 9733
Electronic City 2885 - 6085
Kanakapura Road 3691 - 9391
Central Bangalore 6941 - 14758
Bannerghatta Rd 3204 - 8502
11
22
33
44
55
86
67
Whitefield 3659 - 8429
Sarjapur Road 3261 - 8126
Bellary Road 4026 - 9733
Kanakapura Road 3691 - 9391
Electronic City 2885 - 6085
Thanisandra 4456 - 7453
Bannerghatta Rd 3204 - 8502
11
22
33
44
55
66
77
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
Attibele
Bommanahalli
Chandapura
Electronic City
Gunjur
Hosa Road
Hosur Road
K R Puram
Kaggadasapura
Kengeri
Mysore Road
Ramamurthy Nagar
Uttarahalli
-7.1%
3.9%
4.1%
2.2%
4.1%
-0.5%
-3.3%
4.1%
3.9%
4.0%
3.9%
4.1%
-7.1%
4.0%
3,776
4,891
4,807
4,651
4,093
4,644
4,876
4,804
4,850
4,513
4,818
3,652
4,898
3,335
< INR 4,000 psf INR 4,000-6,000 psf INR 6,000-8,000 psf > INR 8,000 psf
Price Analysis Bengaluru Q4 2019
- Most of the localities witnessed a price increase in the quarter, with the maximum price increments happening in the peripheral areas with fresh supply- IT corridors continue to perform well, with localities around Electronic City, Whitefield, and ORR IT corridor witnessing price increments- Premium domains were the underperformers for the quarter, with posh localities like Indira Nagar, Jayanagar, and Rajaji Nagar seeing price declines.
Source: Magicbricks Research
Yelahanka Dodda Ballapur Road-7.1%
Tumkur Road4.0%
Chandapura4.1%
Devanahalli-1.5%
Gottigere4.0%
Budigere4.0%
Sarjapur3.9%
Attibele4.0%
Kengeri4.1%
© OpenStreetMap contributors
Locality NameAvgPrice
PriceChange
Sarjapur Road
Jp Nagar
Harlur
Manyata Tech Park
Panathur
Marathahalli
Mahadevapura
Sahakara Nagar
Jp Nagar Phase 7
Bellandur
Hoodi Cirle
Hsr Layout
Kudlu Gate
3.9%
4.0%
-7.1%
4.0%
4.0%
3.9%
4.1%
-3.4%
4.1%
-3.7%
-1.8%
3.9%
3.9%
3.9%
4.0%
4.0%
0.8%
-7.1%
6,956
6,852
6,832
6,827
6,804
6,774
6,715
6,648
6,609
6,598
6,518
6,477
6,341
6,192
6,174
6,125
6,075
6,041
Locality NameAvgPrice
PriceChange
Konanakunte
Hebbal Kempapura
Yemalur
Sanjay Nagar
Outer Ring Road
Old Airport Road
Hebbal
Yeshwantpur
JP Nagar Phase 1
Binnypete
Frazer Town
Magadi Road
Basavanagudi
4.0%
-6.9%
-6.9%
-7.0%
-6.9%
3.9%
-6.4%
-7.1%
4.1%
3.9%
4.1%
3.9%
4.1%
4.0%
4.1%
-6.8%
-7.0%
4.1%
3.9%
3.9%
14,108
14,018
12,244
12,221
11,553
11,014
10,284
10,127
9,638
9,431
9,120
8,482
8,159
7,958
7,846
7,627
7,619
7,514
7,459
7,300
-7.5% 7.5%
Avg Price Change %ge
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 NameAvg PricePrice
Change
Banaswadi
Bannerghat..
Begur Road
Btm Layout
Budigere
C V Raman ..
Devanahalli
Gottigere
Hennur
Hennur Mai..
Horamavu
Horamavu ..
Jakkur
-4.7%
-3.8%
4.0%
-2.6%
-7.1%
4.1%
4.0%
4.0%
0.6%
3.9%
4.0%
4.1%
-6.9%
2.0%
4.0%
-1.3%
4.0%
1.7%
-7.1%
4.1%
3.9%
4.1%
-7.1%
4.0%
3.9%
3.9%
4.1%
4.0%
-1.5%
4.0%
4.0%
4.0%
4.1%
4.0%
3.9%
5,006
5,226
5,956
5,492
5,453
5,585
5,490
5,787
5,957
5,850
5,902
5,237
5,059
5,006
5,899
5,052
5,512
5,084
5,172
5,785
5,203
5,888
5,714
5,413
5,117
5,974
5,927
5,071
5,067
5,829
5,293
5,804
5,130
5,428
5,313
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.
For more information and research related queries, please contact:
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com
