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KOLKATA

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The year 2014 started with anticipation among real estate stakeholders concerning the16th general elections in the country. These Lok Sabha elections have kept the IndianReal Estate Market in the wait and watch mode. This is reflected in the NationalProperty Index with a mere 1 per cent change in the Jan-Mar 2014 quarter. City indexvalues too remained intact and ranged between minus 1 to plus 3 per cent.

The formation of new government is expected to infuse fresh life into the real estatemarket and improve home buyers sentiments. In the current quarter, property marketsremained sluggish. However, robust demand from end-users arrested any significantchange in property values. We have observed few finds from the current report:

Key Findings

lAcross the country, capital markets have remained passive while rental markets haveflourished.

lDemand patterns across cities remained more or less in line with the previous quarterwith the mid-budget range of Rs 30-50 lakh remained the most preferred category,especially in Bangalore and Pune. However high end properties remained more indemand in Gurgaon and Mumbai.

lPremium luxury properties remained oversupplied across cities despite a robustdemand of over 20%.

lMumbai topped the chart with maximum demand for properties worth Rs 1 crore andabove, followed by Delhi and Gurgaon.

lSlower demand for property forced sellers to negotiate between 5-15 per cent on theasking values.

In this issue we have incorporated Greater Noida as an independent city which hasrecorded growing demand for residential properties, offering huge options in theaffordable ranges.

Do write in at [email protected] and share your views on this report and howwe could make PropIndex even better.

FOREWORD

Sudhir PaiBusiness Head, Magicbricks.com

NATIONAL PROPERTY INDEX (NPI)

VOL 3, ISSUE 4; JAN-MAR, FY 2013-14 propindex.magicbricks.com

JAN-MAR 2014

With buyer sentiments down across the country and everyone awaitingthe general elections, the common consensus is against buying property.This has resulted in people opting for rental accommodation as opposed tobuying their own home. This is the prime reason that held the growth ofthe National Property Index (NPI). It rose by 1 per cent in the Jan-Mar 2014 quarter. NPI is a weighted average of supply and valuesacross 11 cities in India. During the Jan-Mar 2014 quarter the city indexvalue was found to be in the range of minus 1 to plus 3 per cent.

As opposed to the stable City Indexwitnessed in the Oct-Dec 2014quarter, Kolkata reported a rise of 2 per cent in the index during theJan-Mar 2014. Even though certainlocalities recorded a drop of values,significant rise in capital values ofcertain localities such as EM Bypasspushed up the index as well as theListed Price Monitor.

n Capital markets across citieswere stable while rentalmarkets were active withconsiderable demand and risein values

n The preferred localities indifferent cities remainedunchanged since the Oct-Dec 2013 quarter

n Consumer demand slowly andsteadily moved towards themid-segment category. Demandinched up in the luxurycategory which remainedoversupplied.

JAN-MAR 2014

TOP YIELD GROSSERS

Gross yield is a ratio of average annualrental value to the average capital value ofthe property in the current quarter. Belowis the top yield-grossing locality in the city.

Locality Gross yield

Kolkata, Narendrapur 4.89%

CAPITAL GAINS

It indicates the locality recorded maximumincrease in the capital value in the currentquarter.

Locality % Change

Kolkata, EM Bypass 9.79%

KOLKATA 02VOL3, ISSUE 4; JAN-MAR, FY 2013-14propindex.magicbricks.com

PROPINDEX - KOLKATAThe Kolkota residential market grewmarginally in the Jan-Mar 2014quarter. The City Index and the ListedPrice Monitor rose by 2 per cent eachin the said period.

Consumer sentiments seemed to havepicked up nominally in the Jan-Mar 2014 quarter.

However, even though the Listed PriceMonitor was positive, almost 38 per cent of the localities recorded adrop in capital values in the range of1-3 per cent.

The city also recorded an excesssupply of properties in the higherbudget ranges of Rs 60-100 lakh andin the Rs 1 crore and Abovecategories. Maximum supply waswitnessed in selective pockets of EastKolkata (Rajarhat, New Town ActionArea-3, EM Bypass and Salt Lake) andin some areas of South Kolkata(Ballygunge, Prince Anwar Shah Road,Bhawanipur and New Alipore).

Interestingly, demand continued tooutstrip supply in the residentialmarket across all categories, but mostprominently in the range of Rs 20-40 lakh. Supply was highest for multi-storey apartments, primarilyin the 2 and 3 BHK categories.

Maximum demand and supply wasreported in the budget range of Rs 20-40 lakh registering a mismatchof 5 per cent in the said quarter.

Close on the heels of this came thedemand in the Upto Rs 20 Lakhcategory, while the supply for thissegment reached a double figure per cent in the current quarter.

Geography-wise, localities in the Eastwere preferred for buying. Areas suchas Rajarhat and New Town Actioncontinued to hold the top two slots inthe list of preferred localities for sale inthe Jan-Mar 2014 quarter.

In the rental market, over 70 per centof localities tracked, recorded a rise invalues in the quarter. Rental valuesrose in the range of 2-10 per cent withEM Bypass registering the highest rise.

East Kolkata remained the preferredlocation for consumers, yet again, dueto the presence of IT hubs. The topthree preferred locations for rent inKolkata - Salt Lake, New Town andKestopur - remained unchanged at thetop of the list in the current, Jan-Mar 2014 quarter.

Unlike the last Oct-Dec 2013 quarter, the Kolkata City Index roseby 2 per cent in the current, Jan-Mar 2014 quarter. Similar riseof 2 per cent was recorded by the Listed Price Monitor in thecurrent quarter as against the 1 per cent rise in the previousquarter. The National Property Index rose by 1 per cent.

l In Kolkata, majority of newprojects offered residentialproperty in the budget range ofRs 30-50 lakh. Maximum supplywas noted in the multi-storeyapartments followed by plottedunits, in the current quarter

l Demand continued to outstripsupply in the residential marketacross categories, primarily inthe range of Rs 20-40 lakh

l Rajarhat, EM Bypass, New Townand Behala witnessed maximumsupply in the new residentialprojects in the city. The supplywas highest for multi-storeyapartments primarily in the 2 and 3BHK category

l The city recorded an excesssupply of properties in thehigher budget ranges of Rs 60-100 lakh and Rs 1 crore andAbove. Maximum supply ofthese categories was witnessedin selective pockets of EastKolkata - Rajarhat, New TownAction Area 3, EM Bypass, SaltLake - and South Kolkata -Ballygunge, Prince Anwar ShahRoad, Bhawanipur and NewAlipore in the current, Jan-Mar 2014 quarter

l Demand and supply ofresidential plots continued totop the chart in West Kolkata inthe Jan-Mar 2014 quarter

l New Alipore, Rajarhat,Narendrapur, Garia, Baguiatiand Kalikapur recorded over 10 per cent annual rise in theaverage capital values fromMarch 2013 to March 2014

l Over 70 per cent of the trackedlocalities, recorded a rise inrental values in the current,Jan-Mar 2014 quarter

l Narendrapur and Tollygungerecorded over 15 per cent annualincrease in the average rentalvalues in the last two years

l Amendment in the income taxact, which made registration ofproperty values more expensivethan market values, had anegative impact on the realestate market. This resulted in adrop in transactions in selectedpockets of the city

l The recent announcement ofrationalization of propertyvalues is expected to revive theKolkata real estate market in thenear future

Key Takeaways

E d i t o r i a l

KOLKATA03VOL3, ISSUE 4; JAN-MAR, FY 2013-14 propindex.magicbricks.com

l The Listed Price Monitor rose by 2 per cent duringthe Jan-Mar 2014 quarter as compared to theprevious quarter

l Significant rise of 7-10 per cent in localities such asJodhpur Park and EM Bypass resulted in anincrease in the Listed Price Monitor. Areas such asDum Dum and Narendrapur recorded a moderaterise of 3-4 per cent

l Even though the Listed Price Monitor was positive,almost 38 per cent of the localities recorded a dropin capital values in the range of 1-3 per cent

l Some localities that noted a drop in values includedNew Alipore, Garia and New Town Action Area

L I S T ED PR I CE MON I TOR

Locality Average Rental Average Capital Gross

Value (Rs/sqft/mth) Value (Rs/sqft) Yield

Rajarhat 12.75 3,425 4.47%

EM Bypass 17.75 4,850 4.39%

Garia 11.50 3,500 3.94%

Behala 11.75 3,675 3.84%

Narendrapur 12.25 3,150 4.67%

New Town 13.00 4,650 3.35%

Dum Dum 10.50 3,300 3.82%

Jadavpur 12.00 4,500 3.20%

New Alipore 19.00 6,875 3.32%

Jodhpur Park 19.50 7,500 3.12%

Y I E L D M E T E R

l Localities in Kolkata grossed the highest rentalreturns. The yield meter in the Jan-Mar 2014quarter ranged from 2.92-4.89 per cent

l As in the previous quarter, Narendrapur clockedthe highest rental returns. A steady rise of 8 per cent in rental values and relatively stablecapital values resulted in healthy rental returns

l Several localities clocked rental returns of over 4 per cent on the back of a robust rental market.These include localities such as Rajarhat, EM Bypass, Garia and Jadavpur with gross yieldsranging from 4.0-4.55 per cent

l Jodhpur Park recorded the lowest gross yieldduring the Jan-Mar 2014 quarter

RENT MON I TOR

l The rental market in the city was robust with almost73 per cent of the localities recording a rise in rentalvales during the Jan-Mar 2014 quarter

l Rental values rose in the range of 2-10 per cent withEM Bypass registering the highest rise

l Other localities that recorded significant increase inrental values included VIP Road, Kalikapur,Narendrapur and New Town. A rise of 8-9 per centwas observed in the said localities

l Localities such as Southern Avenue, New TownAction Area-I and Baguiti recorded a drop of 2- 4 per cent in rental values with the SouthernAvenue registering the highest drop

2%


Growth Number of Localities with Most ActiveCorridor Projects Maximum Property

Residential Projects Typology(Multi-storey)*

South 54 Behala, Garia, Narendra Pur, 87%Sonarpur

East 46 Rajarhat, EM Bye Pass, 91%New Town

North 24 BT Road, Barasat, Jessore Road, 93%Uttarpara

*Percentage of total supply

RENT

Locality Rental RankValues Q4 Q3

Salt Lake 15000 to 19500 1 1

New Town 12500 to 16500 2 2

Kestopur 10000 to 12000 3 3

Rajarhat 11500 to 15500 4 6

Garia 10500 to 14000 5 8

Behala 11000 to 14000 6 10

Dum Dum 10000 to 13500 7 5

New Town Action Area 1 12500 to 16000 8 4

Tollygunje 16000 to 22000 9 7

Ballygunge 24000 to 32000 10 -

Note: Q4 Jan-Mar 2014, Q3 Oct-Dec 2013

Locality Capital RankValues Q4 Q3

Rajarhat 3100 to 4000 1 1

New Town 4300 to 5450 2 2

Behala 3300 to 4250 3 4

Garia 3100 to 4050 4 3

Salt Lake 5300 to 7100 5 5

New Town Action Area 1 4650 to 5800 6 6

Kestopur 2850 to 3400 7 8

Dum Dum 3100 to 4000 8 7

Baguiati 2850 to 3550 9 -

Airport 2750 to 3450 10 -

SALE

Note: Q4 Jan-Mar 2014, Q3 Oct-Dec 2013

PREFERRED LOCALITIES

l East Kolkata was preferred for buying with 40 per cent demand

l Rajarhat and New Town Action Area retained thetop two slots in the list of preferred localities forsale in the Jan-Mar 2014 quarter

l Behala and Garia with almost similar capital values(Rs 3,100-4,200 per sq ft) were at the third and fourthspots on the list

l Salt Lake and New Town Action Area maintainedtheir positions at number four and five, respectively.This has been the trend since the last six months

l The seventh, eighth and ninth positions were takenby localities in the North. These included Kestopur,Dum Dum and Bagauiti

l Both Bagauiti and Airport Road were the newlocations on the list of preferred areas for sale inKolkata this quarter. These occupied the ninth andtenth positions, respectively

l The presence of IT hubs made localities in EastKolkata preferable over other locations

l Salt Lake, New Town and Kestopur, the top threepreferred locations for rent in Kolkata, remainedunchanged since the Oct-Dec 2013 quarter

l Rajarhat gained popularity and climbed up twopositions to settle at number four as compared to theOct-Dec 2013 quarter

l Garia also improved its standing considerablyduring the Jan-Mar 2014 quarter. It jumped threepositions from number eight to settle at the fifth spot

l Behala witnessed considerable increase in demandas a rental accommodation. It jumped four positionsfrom the previous quarter to settle at number six

l Dum Dum and New Town Action Area dropped tonumber seventh and eight this quarter as comparedto the fifth and fourth positions these held in theprevious quarter

Above 40% 30-40% 20-30% 10-20% Less than 10%


The maximum demand and supply of plots was witnessed in the western part ofKolkata. Localities such as Joka, Pailan and Amtala are being preferred byproperty buyers. Also, in a key announcement Howrah Municipal Corporationannounced the partial waiver for property and commercial tax.

Where to invest in plots in Kolkata Plotted development seems to be a popular investment avenue in Kolkata. Severalproperty buyers in the city are keenly looking for plots in various budgets. This wasclearly visible by the number of queries on Magicbricks.com consumer forum OpenHouse regarding availability of plotted projects in the city. Localities such as Joka,Pailan and Amtala in West Kolkata and Diamond Harbour Road and Baruipur in SouthKolkata have multiple options for residential plots.

n Magicbricks.com Bureau

HMC announces partial waiver of property tax With an eye on boosting revenue, the Howrah Municipal Corporation (HMC) announceda partial waiver for property and commercial tax on March 4, 2014. Under the waiverscheme, no penalty or interest was required to be paid. The Kolkata MunicipalCorporation has already enforced such a scheme and has benefited greatly. “The state issupporting us, but we must be self-sufficient. The tax outstanding will be collectedwithout burdening civilians,” said Howrah Mayor Rathin Chakraborty.

n Times of India, Kolkata

R E A L T Y N E W S

To read full story and more news go to www.content.magicbricks.com

We would see growth in Real Estate sector asland shortage, input costs and infrastructuredevelopment will drive prices. Investmentswill pick up and as demand is not related toelections the market will grow by 10-15 per cent due to inflation and risingcosts. Kolkata market will be stable with amoderate price rise mainly due to volatileeconomic situation in the country. Once thisis over there will be good appreciation.

Harsh Vardhan PatodiaChairman & MD Unimark Group

E X P E R T S P E A KDeveloper

About 43,000-45,000 residential units areexpected to enter the city in the next 2-3 years. In the last two years, capital valueshave witnessed an appreciation of 20 per cent. Rajarhat provides opportunity forpurchase from end users and investors. Thearea has several projects by national andregional developers, in various pricesegments. The average capital values rangewithin Rs 3,000-5,500 per sq ft.

Karun VarmaManaging Director -New Businesses(Residential)

DTZ India

Consultant

Sam ChopraChairman, RE/MAX India

Q&A

How will the elections impact andchange the dynamics of the city?

Post Elections the real estate marketscenario looks bright across localities inKolkata.

Which localities are you active in?

Central Kolkata, South Kolkata,Bhawanipur, Sector 5 and Rajarhat (This new information technology andresidential hub is being developed on thenorth-eastern fringes of Kolkata).

Which of these localities see maximumpossessions this year?

Rajarhat and there is a new area MaheshBhatan where we can expect maximumpossession in the coming year.

Who is delivering?

What is the buyers profile?

Are you getting enquiries from buyers?

Which BHK segment is popular?

Which budget category is popular?

What type of property is in demand?

Any infrastructure project expected toimpact the real estate market in 2014?

Independent developers dominate themarket and buyers are largely locals fromnearby areas working here.

Established New developers Bothdevelopers

ActiveProfession: IT

No queries

< Rs 25 lakh

Rs 25-50 lakh

Rs 50-75 lakh

Builder floor unitsApartment

Roads/flyover

Active agegroup: 32-45 yrs

NRI/locals:Local

Regular

1 BHK 2 BHK 3 BHK 4 BHK &above

Rs 75-1crore

Above1 crore

Plots Villas

Metro Socialinfrastructure

Civicamenities

Not veryfrequent


50

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

25

Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

23

40 42

17 1611 11

7 8

(Oct-Dec 2013)

(Jan-Mar 2014)

Budget wise Analysis - City Level

DEMAND

50

40

30

20

10

0<20 20-40 40-60 60-100 100 &

above

11

Fig

ures

in p

erce

ntag

e(%

)

Figures in Rs lakh

11

38 37

21 20

16 1714 15

(Oct-Dec 2013)

(Jan-Mar 2014)

SUPPLY

Budget wise Analysis

l The maximum demand (42%) andsupply (37%) was for the budgetrange of Rs 20-40 lakh registering amismatch of 5 per cent in thecurrent quarter

l The next category in demand wasthe Upto Rs 20 lakh category, butthe supply for the same was only 11 per cent. On the other hand, thesecond most supplied category wasthe Rs 40-60 lakh at 20 per cent withdemand for the same at 16 per centin the Jan-Mar 2014 quarter

DEMAND - S UPP LY ANALYS I SThe city noted a preference for affordable properties with maximum buyer interest in the Rs 20-40 lakh category (42%) followed by the Upto Rs 20 lakh category in the Jan-Mar 2014 quarter.However, supply of affordable properties was found to be limited. A significant mismatch of 12 per cent was observed in the Upto Rs 20 lakh category. High-end properties were also over-supplied in the market with supply leading demand by 13 per cent.

While demand was skewed towards 2BHK units (54%) supply in the city was almost equally splitbetween 2 and 3BHK units. An over-supply of 12 per cent was noted for 3BHK units. Larger homes(4BHK and Above) were also over-supplied in the current quarter.

Property wise Analysis

l More than 80 per cent and themaximum demand and supply wasfor multi-storey apartments, withdemand falling by 3 per cent overthe previous quarter

l The residential house category sawa demand of 9 per cent, increasingby 2 per cent. But this category, too,registered a mismatch with supplyat 5 per cent only. The builder floorcategory was the least demandedand supplied but also had amismatch of 2 per cent

BHK wise Analysis - City Level

l Consolidated 90 per cent demandand supply was for the 2 and 3BHKcategories. The demand for 2BHKwas 54 per cent while the supplywas 43 per cent. On the other hand,the demand for the 3BHK categorywas 33 per cent while the supplywas at 45 per cent

l The demand for the 1BHK categorywas 9 per cent with supply at only 4 per cent. The 4BHK and Abovecategory registered demand at 4 per cent but supply at 8 per cent

Property wise Analysis - City Level

100

80

60

40

20

0

8582

2 27 9 6 7

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Single Residential Residentialapartment floor house plot

DEMAND SUPPLY

100

80

60

40

20

0

8786

4 4 4 5 5 5

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

Multistorey Single Residential Residentialapartment floor house plot

BHK Configuration - City Level

60

50

40

30

20

10

0

8 9

53 54

35 33

4 4

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

1BHK 2BHK 3BHK 4BHK &above

DEMAND SUPPLY

60

50

40

30

20

10

03

4

42 4347 45

8 8

(Oct-Dec 2013)

(Jan-Mar 2014)

Fig

ures

in p

erce

ntag

e(%

)

1BHK 2BHK 3BHK 4BHK &above


In South Kolkata, demand was highest for properties in the Rs 20-40 lakh range withsupply registering a negative trend recording a shortfall of 6 per cent. The Upto Rs 20 lakhcategory was also undersupplied with a shortfall of 9 per cent. Both, demand and supply,inched up for luxury properties priced between Rs 60-100 lakh and Rs 1 crore and Above.

Apartments remained the preferred property type with more than 80 per cent demand andsupply. The highest demand was noted for 2BHK units while supply was maximum for the3BHK apartments in the Jan-Mar 2014 quarter.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY

DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Multistorey apartment

Single floor

Residential house

Residential plot

DEMAND SUPPLY



l The Rs 20-40 lakh category witnessed the maximum demand of 40 per cent and supply at 34 per cent, dropping by 2 per cent in thecurrent Jan-Mar 2014 quarter

l The next demanded category was the Upto Rs 20 lakh at 20 per cent,with the supply at 10 per cent. The next supplied category was theRs 40-60 lakh at 22 per cent, increasing by 6 per cent

l There was significant supply (19%) for the Rs 1 crore and Abovecategory while the demand was 12 per cent, increasing by 3 per cent.Similarly, the supply for the Rs 60-100 lakh was 15 per cent withsupply at 12 per cent in the current quarter

DEMAND & SUPPLY - South Kolkata


l The maximum and almost consistent demand and supply was seenfor the multi-storey apartments. The demand was at 81 per cent andsupply at 84 per cent, registering a marginal mismatch in thecurrent, Jan-Mar 2014 quarter

l The residential house category witnessed a demand of 10 per cent,increasing by 2 per cent over the previous quarter, but the supplywas half at 5 per cent

l The builder floor and residential plots category saw a consistenttrend. The supply of the builder floor apartment was 6 per cent,while demand was half at 3 per cent. The residential plot categorysaw a matching and stable demand and supply

BHK wise Analysis

l The maximum demand was for the 2BHK apartments at 54 per cent,while the supply was at 42 per cent, registering a mismatch

l The 3BHK category also registered a mismatch, where the demandwas at 34 per cent and the supply was significant at 46 per cent,similar to the trend observed in the previous quarter

l Similar mismatch was also noted in the 1BHK and the 4BHK andAbove categories. The demand for the 1BHK category was 8 per centwhile the supply was only 3 per cent. On the other hand, the supplyfor the 4BHK and Above category was 9 per cent with demand ofonly 4 per cent in the current, Jan-Mar 2014 quarter

Q3 Q4

40 40

20

1617

1211

129

23

Q3 Q4

36 34

10

2222

1514

1918

10

Q3 Q4

8183

108

Q3 Q4

8485

5

6

Q3 Q4

54 54

34

98

34

Q3 Q4

46 46

99

4242

5655

65


A drop of 5 per cent was noted for properties below Rs 20 lakh. The highest demand wasrecorded for the budget category of Rs 20-40 lakh (47%), an increase of 5 per cent from theprevious quarter. Over 50 per cent supply was concentrated in the Rs 20-40 lakh range.

A significant demand existed for 2BHK units with 63 per cent availability. Supply laggedbehind demand by 11 per cent, even though it was the most supplied category. There wasan oversupply of 3BHK units with supply leading demand by 13 per cent. Moderatedemand was noted for 1BHK units as well. However, supply was limited.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY

DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Single floor

Residential house

Residential plot

DEMAND SUPPLY



l The Rs 20-40 lakh budget category noted a demand of 47 per cent,increasing by 5 per cent, and the supply at 52 per cent, dropping by 2 per cent over the previous quarter

l The next in demand category was the Upto Rs 20 lakh at 35 per cent,dropping by 5 per cent. The supply for the same significantly less at16 per cent, registering a mismatch

l The supply for the Rs 40-60 lakh category was also significant at 17 per cent, while the demand for the same was only 11 per cent. TheRs 60-100 lakh and the Rs 1 crore and Above categories, noted asignificant supply but the demand was marginal

DEMAND & SUPPLY - North Kolkata


l The maximum demand and supply was in the multi-storeyapartment category, though registering a mismatch of 7 per cent.The demand for this category was 83 per cent while the supply was90 per cent, similar to the previous Oct-Dec 2013 quarter

l Significant demand of 10 per cent was also noted for the residentialhouse category, though the supply for the same was only 3 per cent

l Similar supply of 3 per cent each was also seen for the builder floorapartment and the residential plots category, with demand for theformer at a negligible 2 per cent and for the latter at 5 per cent, inthe current Jan-Mar 2014 quarter

BHK wise Analysis

l Similar to the trend in the previous quarter, maximum demand wasfor the 2BHK apartments at 63 per cent. The supply for the same was52 per cent in the current, Jan-Mar 2014 quarter

l The 2BHK category was followed by the 3BHK category for bothdemand and supply. But while the demand for this category was 24 per cent the supply was significant at 37 per cent, registering amismatch of 13 per cent

l Though the 1BHK category had a significant demand at 11 per cent,the supply was only 6 per cent. The 4BHK and Above category saw ademand of 2 per cent, while the supply was at 5 per cent

Q3 Q4

3540

4742

1111

Q3 Q4

16

5254

171699

17

Q3 Q4

84 83

109

Q3 Q4

89 90

Q3 Q4

6361

2426

10 11

Q3 Q4

5253

3738

6

6


A rise of 15 per cent was noted in the supply of Upto Rs 20 lakh. This bridged the gapbetween demand and supply but also led to a marginal oversupply of 8 per cent. Nearly 40 per cent supply was noted for the Rs 20-40 lakh budget range with demand lagging by 4 per cent. A drop of 12 per cent was noted in the supply of Rs 40-60 lakh.

Apartments and residential houses were almost equally supplied in the market. Supplyjumped by 16 per cent from the previous quarter. Apartments recorded a drop of 10 per cent, registering a shortfall of 21 per cent.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY

DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Single floor

Residential house

Residential plot

DEMAND SUPPLY



l The Upto Rs 20 lakh category witnessed maximum demand at 43 per cent, while the supply was 50 per cent, increasing by asignificant 15 per cent over the previous Oct-Dec 2013 quarter

l The Rs 20-40 lakh category noted an almost corresponding demand(36%) and supply (39%), where the demand dropped by 2 per centand the supply increased by the same

l The Rs 40-60 lakh category saw a consistent demand at12 per cent,with supply dropping by 12 per cent to reach 6 per cent in thecurrent quarter. The Rs 60-100 lakh category also registered ademand of 7 per cent, the supply was marginal at 2 per cent

DEMAND & SUPPLY - West Kolkata


l Maximum demand of 58 per cent was for the multi-storey apartmentcategory. The supply for the same was 37 per cent, dropping by 10 per cent and registering a mismatch in the current quarter

l On the other hand, the demand for the residential house categorywas 15 per cent, while the supply was robust at 39 per cent,increasing by a considerable 16 per cent over the previous, Oct-Dec 2013 quarter

l The residential plot category had an almost matching demand (25%)and supply (23%), with the demand dropping by only 2 per cent andsupply by a significant 6 per cent in the Jan-Mar 2014 quarter. Thebuilder floor apartments had a negligible demand and supply

BHK wise Analysis

l Though the 2BHK category registered a maximum demand of 56 per cent, increasing by 7 per cent, the supply for the same was 38 per cent, dropping considerably by 16 per cent

l The demand for the 3BHK category was 28 per cent and supplyalmost matching at 32 per cent. Both demand and supply noted adrop of 3-4 per cent in the Jan-Mar 2014 quarter

l Supply of both, 1BHK and the 4BHK and Above categories, recordeda substantial increase of 11 and 7 per cent, respectively. The demandfor 1BHK apartments was 12 per cent, registering a drop of 3 per cent, while the same for 4BHK and Above was only 4 per cent

Q3 Q4

43 43

3638

1212

Q3 Q4

50

35

39

37

618

Q3 Q4

5860

2527

11

Q3 Q4

3747

2329

23

Q3 Q4

49

2832

56

1215

Q3 Q4

38

54

13

3235

17

7

15 39

6


Demand in the eastern parts of the city was inclined towards properties in the range ofRs 20-40 lakh (41%). Supply was also highest within this range. However, it fell short ofdemand by 8 per cent. Supply in the zone was uniformly distributed amongst differentbudget categories as opposed to demand.

Almost 50 per cent supply was for 3BHK units while it was 36 per cent for 2BHK units.Demand was equally split between 2 and 3BHK units with over 40 per cent buyer interestin each category. Larger homes (4BHK and Above) were over-supplied by 6 per cent.

BHK wise Analysis


Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

Rs <20 lakh

Rs 20-40 lakh

Rs 40-60 lakh

Rs 60 lakh-1 crore

Rs1 crore and above

DEMAND SUPPLY

DEMAND SUPPLY

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)

1 BHK

2 BHK

3 BHK

4 BHK & above

Q3 (Oct-Dec 2013)

Q4 (Jan-Mar 2014)


Single floor

Residential house

Residential plot

DEMAND SUPPLY



l The Rs 20-40 lakh category witnessed the maximum demand(41%)and supply (33%), though registering a mismatch, withdemand leading supply by 8 per cent

l The Rs 40-60 lakh category showed a corresponding demand andsupply, almost similar to the trend in the Oct-Dec 2013 quarter. Thesupply of the Rs 60-100 lakh category was significant at 25 per centwhile the demand was at 17 per cent

l The demand for the Upto Rs 20 lakh category was 12 per cent, whilethe supply was at 6 per cent. The demand for the Rs 1 crore andAbove category was 9 per cent while the supply was at 16 per cent

DEMAND & SUPPLY - East Kolkata


l The maximum demand of 84 per cent was for the multi-storeyapartment category. The supply for the same was also maximum at87 per cent. Both demand and supply noted a drop of 2 per cent overthe previous quarter

l The next category in demand was the residential plots, with demandat 9 per cent, increasing by 1 per cent and supply at 6 per cent

l The residential house category witnessed corresponding demand at6 per cent and supply at 5 per cent in the current Jan-Mar 2014quarter. There was negligible demand and supply for the builderfloor apartment category

BHK wise Analysis

l Similar demand was seen for the 2BHK (44%) and 3BHK (43%)categories, almost consistent to the previous quarter

l The supply of the 2BHK category was 36 per cent, registering amismatch of 8 per cent with demand. While the supply for the 3BHKcategory was 50 per cent, leading demand of the same by 7 per cent

l Mismatch was also noted in the 1BHK and the 4BHK and Abovecategories. The demand for the 1BHK category was 8 per cent whilethe supply was marginal at 3 per cent. On the other hand, thedemand for the 4BHK and Above category was only 5 per cent withsignificant supply at 11 per cent

Q3 Q4

4139

21

1212

23

17188 9

Q3 Q4

31 33

6

20

25

21

6

27

1615

Q3 Q4

8486

98

Q3 Q4

8789

6 6

Q3 Q4

4445

8

4343

7

Q3 Q4

5052

3635

1110

6

CAPITAL VALUES – LOCALITY WISE

Average Listed Residential Apartment Prices

Airport 2750 to 3450

Alipore 11200 to 14550

Baghajatin 3150 to 4150

Baguiati 2850 to 3550

Ballygunge 8500 to 11350

Ballygunge Circular Area 9800 to 13400

Bangur 4400 to 5500

Banshdroni 2950 to 3800

Barasat 2150 to 2600

Behala 3300 to 4250

Belghoria 2650 to 3350

Bhawanipur 8550 to 10950

Birati 2650 to 3300

BT Road 3350 to 4100

Chinar Park Bus Stop 3600 to 4400

City Centre Newtown 3800 to 4750

Deshapriya Park 8850 to 10950

Dum Dum 3100 to 4000

Dum Dum Cantonment 2300 to 2900

EM Bypass 4700 to 6450

EM Bypass South East 3650 to 5050

Ganguli bagan 3200 to 4000

Garia 3100 to 4050

Garia Boral Road 2600 to 3100

Gariahat 8700 to 11700

Haltu 3800 to 4650

Hazra 7950 to 9700

Howrah 2950 to 3850

INO Airport 2850 to 3400

Jadavpur 4050 to 5350

Jessore Road 3450 to 4650

Jodhpur Park 7400 to 9150

Kaikhali 2950 to 3650

Kalikapur 3950 to 4800

Kamalgazi 3300 to 4100

Kasba -East 4250 to 5400

Kestopur 2850 to 3400

Lake Gardens 5500 to 6950

Lake Town 4600 to 5900

Madhyamgram 2350 to 2800

Madurdaha 3900 to 4550

Mukundpur 3050 to 3650

Nager Bazar 3200 to 4100

Naktala 3350 to 4250

Narendrapur 2950 to 3800

Nayabad 2950 to 3350

Netaji Nagar 3150 to 4150

New Alipore 6050 to 7850

New Town 4300 to 5450

New Town Action Area 1 4650 to 5800



Patuli 3650 to 4450

Picnic Garden 3850 to 4800

Prince Anwar Shah Road 9550 to 12550

Purbalok 3900 to 4650

Rajarhat 3100 to 4000

Rajarhat Chowmatha 2700 to 3300

Rajarhat Main Road 3650 to 4600

Rash Behari Avenue Connector 4950 to 6400

Ruby Hospital 4600 to 6150

Salt lake 5300 to 7100

Santoshpur 3750 to 4600

Sodepur 2750 to 3750

Sonarpur 2500 to 2950

Southern Avenue 8950 to 11450

Tegharia 3250 to 3950

Thakur Pukur 2750 to 3550

Tollygunj 3850 to 5150

VIP Road 3450 to 4600

Locality Capital Values (Rs/Sq feet)

Locality Capital Values (Rs/Sq feet)

KOLKATA


VOL3, ISSUE 4; JAN-MAR, FY 2013-14 propindex.magicbricks.com

D I S C L A I M E REvery effort has been made to make this Index as complete and as accurate as possible. MagicBricksaccepts no responsibility for inaccuracies in the information/data contained in this book. It shall haveneither liability nor responsibility to any person or entity with respect to any loss or damage caused, oralleged to have been caused, directly or indirectly, by the information contained in this book. Theinformation/data in this book is subject to change from time to time due to market condition.

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