PropIndex | Magicbricks

Residential Market Insights

COVID-19 resulted in dull activity in the residential market in Delhi but prices remained intact

The property market in Delhi remained dull and witnessed reduced activities in Q2 2020. Both demand and supplyregistered a decline of 11% and 38%, respectively on a QoQ basis. However, property prices remained intact duringthe quarter and we observed only 2% decline in price in Delhi on a QoQ basis. This shows that although the overallmarket activity has declined due to the pandemic, there is not much distress in the market.

We also witnessed some positive price trends in the peripheral micro-markets abutting Gurugram and Noida.Towards Gurugram, localities along MG Road such as Chhattarpur, Mehrauli and Vasant Kunj along with localitiesabutting NOIDA such as Indraprastha Extension and Vasundhara Enclave witnessed positive price growth duringQ2 2020.

5 YearChange YoY QoQ

-2.3%-2.7%-4.2%

5 YearChange YoY QoQ

-1.6%-3.3%-6.9%

"Under-constructionsegment continued itsdownward price

trajectory, falling 1.6%QoQ, as the COVIDcrisis and unsoldinventory addedpressure."

DelhiApr-Jun 2020

Parameters India Delhi

Demand+ -27% -11%Supply++ -43% -38%Price Index+++ -1.5% -2.3%

"Ready-to-moveproperty prices fell by2.3% QoQ, washingaway the gains madeduring 2019."

Notes:Above parameters represent QoQ change in Q2 2020 atIndia and city level + volume of property searches ++ volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Delhi Development Authority (DDA)

DLF Ltd.

S B Associates

Shri Laxmi Properties

Vasant Builders

Planner N Maker

Mitya Infratech

Prime Associates

Unity Group

Emaar India

DLF Chattarpur Farms Chhattarpur

Freedom Fighter Enclave Saket

DLF Capital Greens Moti Nagar

JVTS Gardens Chhattarpur

Paryavaran Complex Saket

Partap Homes Uttam Nagar

Anupam Enclave Saket

DDA Flats VK Vasant Kunj

Adarsh Homes Dwarka Mor

The Amaryllis Karol Bagh

Average changes in prices for localities in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Rail Land Development Authority toredevelop New Delhi Railway Station,for leveraging the real estatedevelopment potential of 110 acres ofrailways' land, uplifting the region.

- Delhi Development Authority (DDA)preparing the launch of its HousingScheme 2020, by July, which will have5,000 flats in Dwarka and Jasola areas.

- DDA to come up with Delhi's nextMaster Plan, MPD-2041, which isexpected to incorporate post-COVIDnorms in planning for housing, mobilityand public spaces.

"Prices dropped acrossmost budget

categories, with thehighest price declinewitnessed in thepremium propertiescosting more than INR15,000 per sqft."

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

8,000

10,000

12,000

14,000

16,000

2014

2015

2016

2017

2018

2019

2020

8,000

10,000

12,000

14,000

16,000

Price Bracket (INR per sqft)

< 5,000 5,000-10,000 10,000-15,000 > 15,000

RM UC RM UC RM UC RM UC

-1.6%

1.1%

-0.9%

-0.5%-0.1%

-2.1%

-2.7%-3.0%

Key Projects

Key Developers based on activelistings

Project Name Locality

Average Price INR per sqft

Average Price INR per sqft

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q2 2020

Source: Magicbricks Research

Note:The above table represents the top projects by consumerpreference 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

Above 3 BHK17%

3 BHK37%

2 BHK35%

1 BHK11%

DEMAND

Demand Supply Analysis Delhi | Apr-Jun 2020

Demand-supply mismatch with lower priced properties being under-supplied

3 BHK most sought after configuration when compared to supply2 and 3 BHKs driving Delhi market inadverse times

In Q2 2020, affordable houses, especially 2 and 3BHKs, which cost below INR 10,000 per sqft,witnessed better traction compared to otherconfigurations, making up for a substantial 3out of 4 property searches in Delhi.

"Demand-Supply mismatchin affordable housing is evident,with a 10% gap in the city's pie,in both 2 BHKs and 'less thanINR 5,000 per sqft' segments"

- Demand for the 'INR 5,000-10,000 per sqft' and'INR 10,000-15,000 per sqft' price range waswell catered, with negligible demand supplygap. This price range includes most of thenon-posh residential localities and sub-districts,including highly searched areas of Dwarka andRohini.

- Higher supply and reduced demand for largerconfigurations (above 3 BHKs) and properties in>INR 15,000 per sqft price bracket also lead to aslight demand-supply mismatch.

- During this period of COVID-19 crisis, Dwarka,MG Road, Vasant Kunj and Saket micro-marketswitnessed higher consumer activity, owing totheir proximity and better connectivity to thevarious employment hubs and tech parks ofGurugram. The western parts of the city,including areas like Dwarka, Uttam Nagar andJanakpuri, also witnessed demand for homes forsimilar reasons.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searches andlistings by localities

Above 3 BHK22%

3 BHK44%

2 BHK27%

1 BHK8%

SUPPLY

10,000-15,00017%

5,000-10,00032%

> 15,00019% < 5,000

31%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by active listings

10,000-15,00016%

5,000-10,00030%

> 15,00012%

< 5,00042%

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

Vasundhara Enclave

Dwarka Sector 21

Paschim Vihar

Vasant Vihar

Narain Vihar

Chhattarpur

Sarita Vihar

Shahdara

© OpenStreetMap contributors

Demand/SupplyDemand

Dwarka 3550 - 10750

M G Road 3300 - 5650

Vasant Kunj 10500 - 19300

Saket 4300 - 8700

Janakpuri 7050 - 12550

Mayur Vihar 7050 - 13950

Uttam Nagar 3350 - 5300

11

72

53

24

45

36

97

Dwarka 3550 - 10750

Uttam Nagar 3350 - 5300

Vasant Kunj 10500 - 19300

Janakpuri 7050 - 12550

Mayur Vihar 7050 - 13950

M G Road 3300 - 5650

Rohini 8000 - 17350

11

32

23

44

55

96

87

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

Khanpur

Govindpuri Main

Chhattarpur

Om Vihar

Sainik Farm

Burari

Mehrauli

Mohan Garden

Matiala

Dwarka Mor

Nawada

Uttam Nagar

Jamia Nagar

Uttam Nagar West

Uttam Nagar East

Okhla

-2.6%

3.6%

-2.4%

-1.5%

1.6%

5.3%

2.4%

2.0%

3.7%

2.0%

3.3%

3.0%

1.0%

0.7%

7.5%

2.9%

-3.5%

3.3%

4,954

4,628

4,622

4,595

4,569

4,528

4,483

4,478

4,452

4,364

4,318

4,214

4,199

4,194

4,193

4,155

3,857

3,778

< INR 5,000 psf INR 5,000-10,000 psf INR 10,000-15,000 psf > INR 15,000 psf

Price Analysis Delhi | Apr-Jun 2020

- Price growth and property searches were mostly concentrated along the Outer Ring Road and in the peripheral micromarkets of Delhi. Janakpuri, Tilak Nagar,Chhattarpur, Rohini and Indraprastha Extn witnessed slight price increase during Q2 2020.

- Localities like Greater Kailash 2, Chittaranjan Park and Saket, which witnessed decent volumes of property searches, also faced substantial price decline. Source: Magicbricks Research

LocalityAvg.Price

PriceChange

Mayur Vihar

Patparganj

Janakpuri

Pitampura

Indraprastha Extn.

Rajouri Garden

Rohini

Mayur Vihar 1

Kalkaji

Vivek Vihar

Moti Nagar

Kirti Nagar

Model Town

Alaknanda

Rohini Sector 14

Vasant Kunj Sector D

2.6%

1.0%

-2.0%

5.3%

-6.2%

-4.3%

-2.7%

2.3%

-1.9%

-7.5%

2.5%

0.6%

2.9%

1.5%

-2.4%

-7.5%

4.5%

-5.7%

-2.4%

-7.5%

-7.5%

-5.9%

-2.8%

-4.1%

-1.0%

3.6%

-6.2%

6.6%

1.0%

-1.8%

14,929

14,787

14,692

14,587

14,565

14,478

14,443

14,394

14,184

13,982

13,776

13,680

13,426

13,404

13,386

13,370

12,970

12,584

11,985

11,640

11,591

11,501

10,987

10,854

10,735

10,478

10,363

10,316

10,308

10,154

Locality Avg. PricePrice

Change

Surajmal Vihar

Punjabi Bagh (W)

Saket

Kailash Colony

East Of Kailash

Green Park Extn

Jangpura

Greater Kailash 1

Geetanjali Encl.

Greater Kailash

Green Park

Greater Kailash 2

GK Enclave 2

Greater Kailash 3

Lajpat Nagar 3

Greater Kailash ..

-7.5%

1.0%

-4.2%

2.5%

-1.7%

-5.0%

-2.9%

7.5%

-3.9%

2.1%

-4.0%

-3.5%

2.9%

-3.9%

-7.5%

2.2%

-6.9%

-2.8%

1.4%

-6.0%

-1.3%

-7.5%

3.3%

1.0%

-3.4%

-7.5%

-3.9%

-5.8%

-1.4%

-5.4%

-7.5%

-3.9%

-7.5%

-2.3%

1.0%

-7.5%

45,423

38,055

29,423

28,319

27,176

26,296

24,738

23,843

21,952

21,513

20,947

20,586

20,492

20,379

20,316

20,270

20,225

20,209

20,152

19,657

19,217

19,202

19,035

19,002

18,684

18,352

18,056

18,032

17,991

17,921

17,472

16,179

16,000

15,850

15,568

15,191

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

Price Change

Mahavir Enclave

Shahdara

Krishna Nagar

Laxmi Nagar

Tilak Nagar

Virender Nagar

Rohini Sector 22

Rohini Sector 25

Dwarka Sector 8

Rohini Sector 23

Dilshad Garden

Hari Nagar

Rohini Sector 24

Dwarka Sector 3

Dwarka Sector 13

Dwarka Sector 7

-2.1%

3.5%

-0.8%

-7.5%

-7.5%

0.7%

-0.8%

-0.9%

0.3%

-2.6%

2.6%

0.3%

0.6%

0.5%

-3.5%

2.4%

-1.3%

4.0%

3.7%

0.9%

-1.2%

3.2%

-2.3%

0.8%

6.0%

0.2%

-3.0%

2.1%

-1.8%

-1.4%

7.5%

1.0%

5.0%

-3.3%

-1.7%

4.3%

-5.2%

7.5%

-3.5%

-7.5%

-3.7%

4.5%

9,705

9,703

9,605

9,405

9,253

9,170

9,129

9,127

9,114

9,114

9,082

9,075

9,045

9,031

9,027

9,022

9,022

9,019

9,003

8,928

8,871

8,740

8,728

8,643

8,636

8,531

8,505

8,298

8,285

8,242

8,050

7,791

7,701

7,422

7,402

7,236

7,052

6,826

5,912

5,764

5,453

5,420

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Suneet Saxena | Assistant Manager surabhi.arora@magicbricks.com devendra.lohmor@magicbricks.com ankur.upadhyay@magicbricks.com suneet.saxena@magicbricks.com

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 Rajendra Nagar-2.8%

Vasundhara Enclave0.2%

Dwarka Sector 220.3%

Rohini Sector 224.3%

Vasant Vihar-2.9%

Laxmi Nagar-3.5%

Model Town-5.7%

Sarita Vihar-0.8%

Ashok Vihar2.6%

Pitampura-6.2%

Shahdara-3.7%

Mehrauli3.0%

Khanpur3.3%

Burari1.0%

© OpenStreetMap contributors

-7.5% 7.5%

-5% -2.5% 0% 2.5% 5%

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