4
PropIndex | Magicbricks
Residential Market Insights
Gurugram residential market prices decline marginally
Gurugram residential property prices witnessed only a slight decline in Q2 2020, even as most other TIER I citieswitnessed price decline of 2-6% amidst the lockdown. Gurugram property prices, which were on a gradual declinesince 2016, resisted any further downward pressure even as the crisis hit. However, there was a complete halt innew launches.
In the long run, the city's real estate market is likely to see action in the south direction towards Sohna, as notableupcoming infrastructure projects such as the construction of Sohna Elevated Road, metro line through Golf CourseExtension till Manesar, and planned 50,000 Hectare Smart city would support the real estate growth in the area.
5 YearChange YoY QoQ
-0.4%0.7%-4.5%
5 YearChange YoY QoQ
-0.3%-0.3%5.0%
"Theunder-constructionprices witnessed only5% increase in the last5 years, and remainedstagnant on YoY basis"
GurugramApr-Jun 2020
Parameters India Gurugram
Demand+ -27% -25%Supply++ -43% -43%Price Index+++ -1.5% -0.4%
"The buyers remainedin favor of readyproperties, and theprices witnessed 0.7%YoY increase in this
segment"
Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + change in the volume of property searches ++ change in the volume of active listings +++ change in the weighted average price
Source: Magicbricks Research
DLF Ltd.
Emaar India
M3M India
Unitech Group
Vatika Group
Godrej Properties
Ireo Management
Bestech Group
Signature Global Group
ATS Infrastructure 10
9
8
7
6
5
4
3
2
1
Valley View Estate Faridabad Road
Tulip Lemon Sector 69
Tulip Violet Golf Course Road
Signature Global Park Sohna Sector 36
Ansals Palam Vihar Palam Vihar
Suncity Avenue 102 Sector 102
Godrej Summit Sector 104
M3M Golf Estate Sector 65
Central Park 2 Sector 48
Essel Towers M G Road
Average changes in prices for localities in various price segments
Market Dynamics
Ready to Move Price Index
Under Construction Price Index
- Gurugram Metropolitan Development Authority (GMDA) has divided Gurugram into six sub-cities to put greater emphasis on infrastructure development. The GMDA has increased its capital budget for infrastructure projects by 31%, which is likely to provide impetus to city's real estate sector.
- Development of a cultural center in Sector 56 and a new stadium in Wazirabad to push real estate demand in nearby Sectors 57, 53 and 55
"The Premium segmentwitnessed a QoQdecline for both
under-construction andready-to-movesegments"
Key Trends to Watch Out
2014
2015
2016
2017
2018
2019
2020
5,000
6,000
7,000
8,000
9,000
10,000
2014
2015
2016
2017
2018
2019
2020
5,000
6,000
7,000
8,000
9,000
10,000
Price Bracket (INR per sqft)
< 5,000 5,000-7,500 7,500-10,000 > 10,000
RM UC RM UC RM UC RM UC
-1.1%
-0.1%-0.2%
0.7%0.4%
-0.2%
-1.8%-1.9%
Key Projects
Key Developers based on activelistings
Project Name Locality
Average Price INR per sqft
Average Price INR per sqft
The above table represents the top developers by share ofactive listings on Magicbricks website in Q2 2020
Source: Magicbricks Research
Note: The above table represents the top projects byconsumer preference on Magicbricks website in Q2 2020
Source: Magicbricks Research
Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research
Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on June 20202. The trend line represents the average prices of dominant asset class in each locality of the city.
Source: Magicbricks Research
Note: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 June 2020
Source: Magicbricks Research
Page 1© magicbricks.com
1 BHK8%
2 BHK26%
3 BHK48%
Above 3 BHK18%
DEMAND
Demand Supply Analysis Gurugram | Apr-Jun 2020
Demand-supply mismatch for 'less than INR 5,000 per sqft' segment
3 BHK configuration dominates the Gurugram residential marketMid and premium segments continueto drive Gurugram market
- Nearly 75% of the total demand in Gurugramwas concentrated in the 'below INR 7,500 persqft' segment, which is quite high as compared toits counterpart satellite city of Noida, where,most of the demand is concentrated in 'below INR4,000 per sqft' segment.
"Proximity to major employmenthubs, excellent connectivity toManesar Industrial Area and otherparts of the city via Kundli ManesarPalwal Expressway, Southern
Peripheral Road and well-developedsocial infrastructure has made Sohna
Road a realty hotspot"
- 3 BHK configuration dominates the residential market as it accounted for around half of the total demand (consumer preference) as well as supply (active listings)
- While the 1 BHK supply continues to be plaguedby density norms problem, 2 BHKs witnessed aslight demand-supply mismatch as the Gurugrammarket fails to offer the required level ofaffordable segment supply
- Due to the influx of the working-classpopulation and supported by variousinfrastructure developments, real estate focus isslowly shifting back to Sohna Road, which is alsothe top micro-market by consumer searches forthe quarter.
Top Micromarkets by consumersearches
Propensity of demand and supply in terms of searches andlistings by localities
1 BHK2% 2 BHK
19%
3 BHK52%
Above 3 BHK27%
SUPPLY
7,500-10,00023%
5,000-7,50038%
> 10,00014% < 5,000
24%
SUPPLY Price buckets in INR per sqft
Top Micromarkets by active listings
7,500-10,00016%
5,000-7,50037%
> 10,00011%
< 5,00036%
DEMAND Price buckets in INR per sqft
Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q2 2020, segregated by BHK configuration
Source: Magicbricks Research
.Notes:1. Demand represents property searches on Magicbricks website during Q2 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q2 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 Q2 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 Q2 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 Q2 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.
Source: Magicbricks Research
Ashok Vihar Phase 3 Extension
Dwarka Expressway
South City 1
Sector 70ASector 82A
Sector 102Sector 104
Sector 109
Sector 54
Sector 65
Sector 68
Sector 70
Sector 79
Sector 92
M G RoadSector 5
© OpenStreetMap
Demand/SupplyDemand
Sohna Road 4950 - 11300
New Gurgaon 2550 - 8150
Golf Course Extn 4100 - 12650
Old Gurgaon 2650 - 11050
DLF Sectors 6450 - 13500
Dwarka Expressway 2700 - 9250
Golf Course Road 6500 - 25850
11
22
33
64
45
86
57
Golf Course Extn 4100 - 12650
Sohna Road 4950 - 11300
New Gurgaon 2550 - 8150
Dwarka Expressway 2700 - 9250
Golf Course Road 6500 - 25850
DLF Sectors 6450 - 13500
Sushant Lok 2 & 3 5050 - 8700
11
22
33
54
45
66
77
Micro-Market Price Range Rank Rank Q2-20 Q1-20
Micro-Market Price Range Rank Rank Q2-20 Q1-20
Page 2© magicbricks.com
Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q2 20202. Color of the bubble represents price change in Q2 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.
LocalityAvg.Price
PriceChange
Rajendra Park
Sector 105
Sector 95
Sector 89
Sector 93
Sector 103
Sector 91
Sector 92
Sector 37C
Pataudi Road
Sohna Sector 36
Sector 90
Sohna Sector 2
Dhorka
Sector 37D
Sector 85
-1.7%
-2.6%
3.6%
0.8%
3.4%
-1.8%
2.0%
2.0%
-1.7%
2.6%
2.0%
3.5%
2.9%
0.6%
-0.9%
3.5%
2.1%
4.8%
-2.5%
-2.0%
4,970
4,921
4,838
4,829
4,816
4,781
4,779
4,764
4,761
4,726
4,706
4,697
4,652
4,549
4,520
3,990
3,694
3,666
3,287
3,248
< INR 5,000 psf INR 5,000-7,500 psf INR 7,500-10,000 psf > INR 10,000 psf
Price Analysis Gurugram | Apr-Jun 2020
- Most of the price increment in Gurugram was concentrated in the region of New Gurugram, while Sohna Road and Golf Course Road also had a number oflocalities with slight price increments.
- Most localities in the affordable and mid segments, in 'less than INR 7,500 per sqft' bracket, witnessed a price increment during Q2 2020.Source: Magicbricks Research
LocalityAvg.Price
PriceChange
Sector 47
Fazilpur Jharsa
Sector 45
Sector 48
Sector 72
Sector 111
Sector 67A
Sushant Lok 1 Block C
Sushant Lok 1
Sector 61
Suncity
Sushant Lok 1 Block B
South City 1
Sector 63
Sector 60
Sector 67
-0.7%
2.8%
-7.5%
-1.2%
-0.4%
1.4%
7.5%
2.0%
2.0%
-0.3%
2.4%
2.0%
-2.3%
6.3%
7.5%
-1.1%
-0.1%
-0.6%
-7.5%
0.9%
0.5%
-7.5%
9,976
9,881
9,713
9,351
9,174
8,866
8,831
8,821
8,618
8,463
8,448
8,431
8,431
8,393
8,351
8,150
7,913
7,908
7,804
7,725
7,712
7,581
LocalityAvg.Price
PriceChange
Sector-25Sector 65DLF City Phase 1Sector 28Cyber CitySector 30Sector 58Sector 27Sector 53Sector 59M G RoadSector 43Sector 24Golf Course RoadDLF Phase 5Sector 54Sector 42 -7.5%
7.5%0.3%2.3%-7.5%1.7%-1.0%5.2%-4.7%-7.5%1.2%-0.5%2.0%-4.7%4.3%-0.3%-0.6%
20,70713,69112,16611,93111,34411,25811,17910,95210,79210,70610,53210,43010,34910,21110,09810,02810,025
Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q2 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 represent the price change in Q2 2020, 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.
Q2 2020 Price changes for the city's major localities
LocalityAvg.Price
PriceChange
Sector 7
New Gurgaon
Sector 79
Sector 108
Sector 83
Sector 77
Sohna Sector 33
Dwarka Expressway
Sector 82
Palam Vihar
National Highway 8
Sector 86
Sector 102
Sector 88A
Sector 69
Dharampur
1.2%
3.1%
-5.4%
3.2%
-7.5%
-7.5%
-0.5%
-1.7%
3.1%
2.0%
7.5%
4.1%
5.4%
1.2%
-1.9%
6.2%
-1.1%
-1.5%
7.5%
5.5%
-7.5%
5.2%
-4.6%
1.5%
0.0%
2.0%
2.4%
-6.6%
2.9%
-0.3%
7.5%
-1.2%
7.5%
-1.4%
4.8%
1.1%
3.2%
1.7%
5.7%
0.5%
2.1%
-0.4%
0.2%
0.7%
-6.0%
4.5%
2.6%
5.5%
7,412
7,386
7,386
7,352
7,238
7,208
7,086
7,068
6,979
6,944
6,928
6,902
6,886
6,848
6,793
6,785
6,684
6,674
6,666
6,626
6,593
6,491
6,486
6,484
6,474
6,465
6,431
6,374
6,348
6,292
6,192
6,159
6,110
6,097
6,072
6,020
5,965
5,893
5,880
5,798
5,762
5,684
5,617
5,567
5,558
5,512
5,453
5,143
Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Swati Suri | Senior Research [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:
New Gurgaon2.6%
Pataudi Road2.0%
Sector 70A-4.6%Sector 81A
7.5%
Sector 1021.1%
Sector 222.8%
Sector 24-7.5%
Sector 632.0%
Sector 677.5%
Sector 794.5%
Sector 910.6%
Sector 75.5%
© OpenStreetMap
-7.5% 7.5%
-5% -2.5% 0% 2.5% 5%
Page 3© magicbricks.com
