residential property market overview 3q 2011

Accelerating success.

Residential Property Market OverviewINDIA

QUARTERLY UPDATE | OCTOBER | 2011

www.colliers.com

MACRO ECONOMIC OVERVIEW

The Reserve Bank of India (RBI) has tightened liquidity again this quarter by increasing the repo •rate from 7.25 percent to 8.5 percent by October 2011. Following the Reserve Bank’s increase in repo rates, most of the banks increased their home loan interest rates.

The current high interest rate and high input cost adversely impacted the Indian real estate •sector, as well the overall market momentum slowed down as compared to previous quarter. The higher cost of debt compelled a few developers to look for options to liquidate their land banks and existing projects.

Inflation was recorded at 8.40 percent this quarter as compared to 9.44 percent during 2Q 2011. •The prime minister’s economic advisory council estimate that headline WPI will remain elevated till Nov’ 11 at 9% or even higher and will soften only from Dec’ 11 onwards.

The Reserve Bank of India further-reduced the GDP growth estimate for 3Q 2011 to 8.0 percent •as compared to previous quarter GDP of 8.3 percent. This was primarily due to downgrade revision of GDP estimate for the agriculture and industry sectors from the previous round of surveys.

In a major development for real estate sector, draft land acquisition policy was finalized by law •commission this quarter. This policy is an amendment to the Land Acquisition Act, 1894, which will ensure owner friendly acquisition of land and will enable the government to frame a land acquisition policy from time to time.

ReseARch & FORecAsT RePORTSYDNEY CENTRAL BUSINESS DISTRICT

3Q 2011 | ThE kNOwLEDgE

* SBI Home Loan Rate for Loan upto INR 50 Lakhs.

ECONOMIC BAROMETER

RETURN ON ALTERNATIVE INVESTMENTS

Sep-10 Sep-11

RePO RATe 6.0% 8.5%

ReVeRse RePO RATe 5.25% 7.0%

cRR 6.00% 6.0%

INFLATION 9.8% 8.4%

hOme LOAN RATe* 8% 11%

Sep-10 Sep-11 YoY %

Change

GOLD 19,087 27,856 45.94%

sILVeR 32,592 64,550 98.05%

FIxeD DePOsIT

(< 1yeAR) 7.25% 9.25% 27.59%

sILVeR 7.25% 64,550 9.25%

eQUITy 19,208 16,467 -14.27%

ReALTy INDex 3.627 1.721 -52.53%

Repo Rate Reverse Repop Rate cash Reserve Ratio WPI

ECONOMIC INDICATORS

4.0

6.0

8.0

10.0

12.0

In P

erce

ntag

e

Jan

‘08

Jan

‘09

Jan

‘10

Jan

‘11

mar

‘08

mar

‘09

mar

‘10

mar

‘11

may

‘08

may

‘09

may

‘10

may

‘11

Jul ‘

08

Jul ‘

09

Jul ‘

10

Jul ‘

11

sep‘

08

sep‘

09

sep‘

10

sep‘

11

Nov

‘08

Nov

‘09

Nov

‘10

2.0

-

(2.0)

Source: Colliers International India Research

INDIA ResIDeNTIAL mARKeT RESEARCh REpORT

3Q 2011 | THE KNOWLEDGE

CApITAL VALUE TRENDS

PROJecT NAme LOcATION

Aether Goregaon east

Darshan Ricco Lower Parel

elanza santacruz east

Grandeur Goregaon east

Jayshree malad West

KUL elegance Juhu

Rustomjee Paramount

Khar West

Zeon Wadala

pROJECT LAUNChED IN 3Q 2011

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

3Q20

11

2Q20

11

1Q20

11

4Q20

10

3Q20

10

2Q20

08

1Q20

08

INR

per

sq ft

75000

5000

25000

35000

15000

45000

65000

55000

3Q20

08

malabar hill, Altamount Road, carmichael Road

santacruz

Breach candy, Napeansea Road, Peddar Road

Khar

Prabhadevi

colaba, cuffe ParadeBandra

Andheri

Worli

Juhu

p. 4 | COLLIERS INTERNATIONAL

MARKET TRANSACTIONScLIeNT PROPeRTy

cLAssIFIcATIONAReA (sQ. FT.)

LOcATION TRANsAcTION TyPe

Bharati Axa Apartment 3,200 Prabhadevi Lease

Individual Duplex Penthouse 2,500 Juhu sale

Individual Apartment 2,150 Worli Lease

Individual Apartment 3,300 Nepeansea Road Lease

Individual Apartment 6,000 Khar sale

MUMBAI

A number of premium residential projects were •launched in mumbai this quarter including “Zeon” by Ajmera Developer, “Aether” and “Grandeur” by Romell Group, “Jayshree” by Arkade Developer, “elanza” by shamik Group, “elegance” by KUL Group, “Paramount by Rustomjee Developers and “Darshan Ricco” by Darshan Group. most of these new launches were located in western suburbs and were priced in range of INR 10,000 to 20,000 per sq.ft. depending upon locations and amenities provided in the project.

capital values for prime residential properties •recorded an increase in the range of 2 to 9 percent in western suburbs such as Worli, Prabhadevi, Bandra, santacruz, Andheri, Khar and Juhu. however, properties in south central locations observed pressure on capital values and saw a marginal correction in the range of 1 to 4 percent quarter-on-quarter.

Overall volume of sale transactions remained •low but few big ticket deals were recorded in the city. A premium apartment at Powai was sold for approximately INR 7.0 crore at approximately 23,000 a sq ft.

Rentals values for prime residential properties •continued to show an upward trend. An increase in the range of 1 to 5 percent quarter-on-quarter was witnessed in most of the micro markets except for a few locations such as Andheri and Powai where rental values remained stable on account of demand supply equilibrium.

CITY RESIDENTIAL BAROMETER

mUmBAI

2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | MUMBAI

3Q 2011 pREMIUM RESIDENTIAL AVERAgE CApITAL VALUE

cola

ba, c

uffe

Para

de

INR

per

sq ft

mal

abar

hill

, Alta

mou

nt

Road

, car

mic

hael

Roa

d

Wor

li

Brea

ch c

andy

, Nap

eans

eaRo

ad, P

edda

r Ro

ad

Prab

hade

vi

Band

ra

sant

acru

z

Andh

eri

Khar

Juhu

0

10000

20000

30000

40000

50000

60000

70000

3Q 2011 pREMIUM RESIDENTIAL AVERAgE RENTAL VALUE

INR

per

sq ft

Per

mon

th

Prabhadevi

colaba, cuffe Parade

Breach candy, Napeansea Rd.,

Peddar rd.

malabar hill, Altamount Road, carmichael Road

200

150

100

50

0

Powai

Andheri

Juhu

Khar

santacruz Worli

Bandra


COLLIERS INTERNATIONAL | p. 5 COLLIERS INTERNATIONAL | p. 5

DELhI

In 3Q 2011, a number of small premium •projects were initiated by local developers such as salcon Group, Uppal Group and sanskar homes in Vasant Vihar, West end, Jorbagh and shanti Niketan. All of these were redevelopment projects where developers rebuild the existing properties under a joint development agreement with the owners.

capital values of prime residential properties •appreciated in the range of 4 to 6 percent quarter-on-quarter across all the micro markets in 3Q 2011.

Due to sustained demand from expatriates •and officials of top Indian and multinational companies, rentals values for prime residential properties witnessed an increase in the range of 2 to 8 percent in almost all micro markets except chanakya Puri, Anandlok, Niti Bagh and sDA locations where a marginal correction in the range of 1 to 3 percent was observed.

To improve the connectivity of Delhi with •other parts of the National capital Region (NcR) the local authorities have decided to build new metro line connecting Janakpuri West (Delhi) with Botanical Garden (NOIDA) which will cater to the commuting needs of around 40,000 students of four prominent universities in the NcR. The 36-km-proposed corridor will be built under Phase – 3 of the metro project and it is expected to become operational by 2016.


2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | DELhI




DeLhI




Adani Group Independent house 12,000 Golf Link sale

eicher motors Independent house 5,500 Golf Link Lease

Japan Foundation Apartment 2,800 Vasant Vihar Lease

LG Apartment 2,000 Defence colony Lease

michelin Apartment 4,500 maharani Bagh Lease

mohan export Independent house 9,000 Golf Link sale


0

10000

20000

30000

40000

50000

60000

70000

90000

80000

Anan

d Ni

keta

n,

Vasa

nt V

ihar

Panc

hash

ila, A

nand

lok,

Niti

Bagh

, sDA

Frie

nds

colo

ny,

mah

aran

i Ba

gh

shan

ti Ni

keta

n,

Wes

tend

Grea

ter

Kaila

sh

I & II

, sou

th

exte

nsio

n

Golf

Link

s, J

or B

agh,

su

nder

Nag

ar

chan

akya

Pur

i

Prith

vira

j Roa

d,

Aura

ngze

b Ro

ad

INR

per

sq F

t

10000

0

20000

30000

40000

50000

60000

70000

80000

90000

1Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

1Q20

10

3Q20

08

4Q20

08

4Q20

09

2Q20

10

3Q20

10

4Q20

10

3Q20

11

1Q20

11

2Q20

11

Golf Links, Jor Bagh, sunder Nagar

shanti Niketan, Westend

Friends colony, maharani BaghPanchashila, Anandlok, Niti Bagh, sDA

Greater Kailash I & II, south extension

chanakya Puri

Prithviraj Road, Aurangzeb Road

Anand Niketan, Vasant Vihar

INR

per

sq F

t

Golf Links, Jor Bagh, sunder Nagar

chanakya Puri

Prithviraj Road, Aurangzeb Road

Anand Niketan, Vasant Vihar

Greater Kailash I

& II, south extension

Friends colony, maharani Bagh

shanti Niketan, Westend

Panchashila, Anandlok, Niti Bagh, sDA

160 140120100806040200

INR

per

sq F

t per

mon

th



estella sec-103, Dwarka express way

headway sec-103, Dwarka express way

Palm Garden sec-83, Dwarka express way

Paradiso sec-109,Dwarka express way

sahara cityDwarka express way

skyzsec-37D Dwarka express way

p. 6 | COLLIERS INTERNATIONAL COLLIERS INTERNATIONAL | p. 6






BmW Apartment 3,600 Golf course Road Lease

carin energy Apartment 5,800 Golf course Road Lease

carin energy Apartment 4,200 N h - 8 Lease

Daikin Apartment 2,311 N h - 8 Lease

honda Apartment 3,600 Golf course Road Lease

honda Apartment 4,000 Golf course Road Lease

gURgAON

In 3Q 2011 projects launched include “Palm •Garden” by emaar mGF, “skyz” by Ramprastha Group, “sahara city” by sahara Group, “eatilla” by sidhartha Group, “headay” by era Group, and “Paradiso”by chintels India Ltd. All of these projects were located in the sector adjoining Dwarka express highway and were launched in a price band of INR 2,645- 5,800 per sq ft.

construction activities remained slow and •none of the major projects/phases of the project were offered for possession during the quarter.

capital values for prime residential properties •recorded an increase in the range of 2 to 4 percent across all micro markets, except in DLF Phase-1 and Nh-8 where capital values remained stable quarter-on-quarter.

Rental values for prime residential properties •increased in the range of 2 to 9 per cent quarter-on-quarter in locations such as DLF Phase 1, Golf course Road, sohna Road & extension and sushant Lok. Due to the increased commercial leasing in the nearby areas increase in the demand of residential properties for rent was observed.

In 3Q 2011 “Gurgaon-manesar Urban •Plan 2025” was notified by the haryana Government. According to the plan the commercial Business District (cBD) has been planned in sector 74. In the new master plan the haryana Government has started that commercial license will not be permitted in residential zones.


2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | gURgAON

pROJECT LAUNChED IN 3Q2011


GURGAON

sohna Road & ext

Golf course Road

Nh-8

sushant LokDLF Phase I

50

40

30

20

10

0

INR

per

sq ft

Per

mon

th

4Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

1Q20

11

2Q20

11

3Q20

11

4Q20

10

3Q20

10

14000

2000

4000

8000

6000

10000

12000

3Q20

08

Golf course Road

DLF Phase I

Nh-8

sushant Lok

sohna Road & ext

INR

per

sq ft

Golf

cour

se R

oad

sohn

a Ro

ad &

ext

DLF

Phas

e I

sush

ant L

ok

Nh -

8

0

3000

6000

9000

12000

15000

INR

per

sq ft

COLLIERS INTERNATIONAL | p. 7





Individual Apartment 1,800 sector 93A sale

Individual Apartment 1,450 sector 50 sale

Individual Apartment 1,500 sector 25 Lease

mNc Apartment 3,000 sector 93 Lease

NOIDA

During 3Q 2011 NOIDA witnessed fewer •launches of new projects compared to the previous two quarters. Project launched this quarter were “Amrapali hanging Garden” by Amrapali Group, “Logix Zest” by Logix Group and “Urbtech xavier’s” by Urbtech India Developers (P) Ltd. All these projects were located in sectors adjoining the NOIDA expressway.

No major underconstruction projects/phases •of the project witnessed completion this quarter although, in 4Q 2011 phase 1 of “Lotus Boulevard” by 3c in sector 100 is expected to be ready for possession.

This festive season an increase in enquires •was recorded for new bookings as developers were providing incentives like discount on basic sale prices, LcD TVs, free club membership and a free one year maintenance after possession etc. to attract customers. however, due to prevailing land issues in the neighbouring location, NOIDA extension, buyers remained cautious and defered purchase plans.

capital values witnessed an increase in the •range of 3 to 6 percent quarter-on-quarter in almost all of the prime residential sectors such as sector 28-30, 44, 50, 92, 93 and 61-62.

In 3Q 2011, rental values in NOIDA was •increased in the range of 3 to 7 percent quarter-on-quarter, due to improved demand and limited supply of premium properties.

The NOIDA authority has started construction •work in this quarter of the city’s first elevated road, with an estimated project cost of INR 415 crore.

CITY OFFICE BAROMETER

2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | NOIDA


Amrapali hanging Garden

sector 107

Logix Zest sector 143

Urbtech xaviers sector 168


NOIDA



0

1000

2000

3000

4000

5000

6000

7000

8000

9000

sect

or 2

8, 2

9, 3

0

sect

or 9

2/93

sect

or 6

1, 62

., 63

sect

or 5

0

sect

or 4

4

INR

per

sq F

t

3Q20

09

3000

3500

4000

4500

5000

5500

6000

7000

6500

7500

8000

1Q20

10

2Q20

10

3Q20

10

4Q20

09

1Q20

11

2Q20

11

3Q20

11

4Q20

10

sector 92/93

sector 61,62,63

sector 44

sector 28,29,30

sector 50

INR

per

sq F

t

sector 50

sector 44

sector 28,29,30

sector 92/93 sector 61,62,63

25

20

15

10

5

0

INR

per

sq F

t per

mon

th






2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | ChENNAI




Danieli Apartment 4,000 Boat club Lease

ericsson Beach house 4,500 Akkarai Lease

hilton Beach house 4,500 Akkarai Lease

Individual Beach house 4,000 shastri Nagar sale

singapore Airlines Apartment 1,800 Thiruvanmiyur Lease

Woori Bank Apartment 3,000 mRc Nagar Lease


ChENNAI

In 3Q 2011 the chennai residential market has •seen completion of various premium projects/phases of the projects like “Golden homes” by Golden Vista in Anna Nagar, “Tejashree Aishwaryam” by himabindhu Infra in Porur, “Urban Ville” by Bhagyam constrns in OmR and “Visalakshi enclave“ by mukundan Projects. In addition, two premium properties were also offered for possession in Boat club and Gandhi Nagar area by a Private Developers.

In 3Q 2011 Golden homes launched “Golden •Aura” in Anna Nagar and “Golden crocus” in Kilpauk . Both of these projects were luxury projects priced in the range of INR 9,000 to 11,000 per sq.ft. Another luxury project comprising 25 exclusive luxury villas was launched by casa Grande in Perungudi.

Projects launched in mid range were “mantri •Navratna” by mantri Group and “silent Valley” by Vijay shanthi Builders in chromepet and Tambaram, respectively. These projects were priced between INR 3,500 to 4,000 per sq.ft.

capital values remained stable in almost all of •the micro markets in chennai. Despite large supply, continued demand for middle and high end housing has helped to stabilise prices in the suburbs. Increased activity was observed in OmR, GsT, Oragadam and sriperumbudur but capital value stayed in the affordable range of INR 3,000 to 3,500 per sq ft in these areas.

Rental market remained active and demand •for high end smaller units with 3 BhK denominations were on rise. Rental values in Boat club, one of the most sought after locations in prime residential properties has appreciated by approximately 7 percent quarter-on-quarter due to limited supply. however, all other micro -markets showed a stable trend in rental values.



Golden crocus Kilpauk

Golden Aura Anna Nagar

mantri Navratna chromepet

silent Valley Tambaram


cheNNAI

Adyar

Anna Nagar

Nungambakkam

Boat club

siruseri/ Kazipattur

sholinganallur

Velachery

Alwarpet / R A Puram Beasant Nagar

T Nagar

65

55

45

35

25

15

5

-5

INR

per

sq ft

Per

mon

th

3Q20

08

4Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

2Q20

10

3Q20

11

2Q20

11

1Q20

11

4Q20

10

3Q20

10

21000

3000

1000

5000

7000

9000

13000

15000

11000

18000

19000

1Q20

08

Boat clubBeasant Nagar

VelacheryAlwarpet / R A Puram

siruseri/ Kazipattur

AdyarNungambakkam

Anna Nagar

T Nagarsholinganallur

INR

per

sq ft

Boat

clu

b

Nung

amba

kkam

Anna

Nag

ar

T Na

gar

Beas

ant N

agar

Adya

r

shol

inga

nallu

r

Alw

arpe

t / R

A P

uram

Vela

cher

y

siru

seri/

Kaz

ipat

tur0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

INR

per

sq ft






Boeing Villa 3,400 White Field Lease

Bosch Villa 3,500 sarjapur Rd Lease

cavin Kare Apartment 1,600 Jayanagar Lease

hP Apartment 2,200 White Field Lease

BENgALURU

Projects or part of the projects completed •this quarter were “Venezia” developed by Puravankara Group and “Almond Tree” developed by edifice Group. Both of these projects were located in yelahanka. Another project witnessed completion this quarter was “hm World city” developed by hm Group in JP Nagar.

Projects launched in the luxury segment this •quarter were “Brigade Rhapsody” by Brigade Group located at Palace Road and “27 Park Avenue” by Asset homes located at hsR Layout. Both of these projects are expected to complete by the end of year 2013. Prestige Group has also launched two mid-range projects “Prestige sunny side” and “Prestige Tranquillity” at ORR and Budigere cross Road respectively.

Average capital values for prime residential •properties remained stable quarter-on-quarter in most of the micro markets. The transaction volumes were low as compared to previous quarter primarily due to macro economic factors such as increasing inflation and interest rates.

Rental values remained stable during the •quarter in most of the micro-markets barring Whitefield, where an increase in the range of 10 to 12 percent was observed quarter on quarter. This increase can be attributed to the high demand from officials of Indian corporations and mNcs.

The first line of the Bangalore metro from •Baiyappanahalli to mahatma Gandhi Road (also called Reach-1) is expected to start operating from 4Q 2011.


2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | BENgALURU


0

2000

4000

8000

6000

10000

14000

16000

12000

yela

hank

a

Whi

tefie

ld (A

ppts

)

Kora

man

gala

Bann

ergh

atta

Ro

ad

Indi

rana

gar

Airp

ort R

oad

Pala

ce O

rcha

rd

Jaya

naga

r

cook

e To

wn

INR

per

sq F

t

cent

ral

1Q20

08

2Q20

08

3Q20

08

INR

per

sq F

t

1000

3000

5000

7000

9000

11000

15000

13000

17000

2Q20

10

4Q20

09

1Q20

10

4Q20

08

1Q20

09

2Q20

09

3Q20

09

3Q20

10

4Q20

10

1Q20

11

2Q20

11

3Q20

11

central

Bannerghatta Road

yelahanka

Palace Orchard

cooke Town Jayanagar

Indiranagar

Whitefield (Appts)

Airport Road

Koramangala




27 Park Avenue hsR Layout

Brigade Rhapsody Palace Road

Prestige sunny side ORR

Prestige Tranquility Budigere cross Road


Palace Orchard

Jayanagar

cooke Town

central

yelahanka

Whitefield (Appts)

Koramangala

Bannerghatta Road Airport Road

Indiranagar

65

55

45

35

25

15

5

-5

INR

per

sq F

t per

mon

th

BeNGALURU






Individual Apartment 1,234 Bansdroni sale

Individual Apartment 1,188 Baguihati sale

Individual Apartment 1,100 Rajarhat, hatiara sale

Individual Apartment 863 Dum Dum sale

Individual Apartment 820 Jadavpur sale

Individual Apartment 918 Baranagar sale

KOLKATA

Projects/phases of the projects ready •for possession this quarter include “Ideal Lakeview” developed by Ideal Real estates at Topsia, “Purty Utsav” developed by Purti Realty and “Rishi enclave” by mittal Group & swarna Infrastructure in Rajarhat.

A number of projects were launched in •Kolkata during this festive season; “Ps mahagun” by Ps Group, “ sampoorna” by Bengal DcL “harmony” by Aster Group, “mount hill Breeze” by mount hill Realty and “Pather Panchali” by Realtech Nirman. All of these projects are expected to be ready for possession by the end of year 2013 or early 2014. All of these projects were launched in price band of INR 2,000 to 3,400 except Ps mahagun project which was launched above INR 5,000 per sq ft.

capital values in the city have shown •an upward trend in micro markets like Bhawanipur, Alipore, Behela, Loudon street, Ballygunge, salt Lake, em Bypass, VIP Road and New Town –Rajarhat; appreciation in these micro markets was in the range of 6 to 12 percent quarter-on-quarter. This can be attributed to the fact that in south west and central Kolkata availability of new projects is limited and a sturdy demand has been seen. similarly in New Town –Rajarhat various new projects have seen robust demand which led to rise in capital values.

Rental values on the other hand in 3Q 2011 •remained stable in almost all the major micro markets except Tollygunge and Behela where rental values were appreciated in the range of 3 to 8 percent as compared to 2Q 2011.

The state Government has proposed to •build a 40km ‘half-ring road’ from Diamond harbour Road, near the ekbalpore crossing, to Barasat. This road will facilitate uninterrupted, congestion-free flow of traffic from Diamond harbour Road to Barasat.


2Q 2011 3Q 2011

RENTAL VALUE

CApITAL VALUE

THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | kOLkATA




pROJECT LAUNChED IN 3Q2010

KOLKATA


harmony Rajarhat

mount hill Breeze Jessore Road

Pather Panchali Garia

Ps magnum VIP Road

sampoorna New Town


Alipore

Tollygunge

PA shah Road

Bhawanipur

New Town Rarhat

VIP Road

em Bypass

Ballygunge

salt Lake Behela

Loudon street

35

30

25

15

10

5

0

INR

per

sq ft

Per

mon

th

3Q20

08

4Q20

08

2Q20

08

1Q20

09

2Q20

09

3Q20

09

4Q20

09

1Q20

10

1Q20

10

2Q20

10

2Q20

10

3Q20

1

3Q20

1

4Q20

09

1Q20

11

2Q20

11

3Q20

11

4Q20

10

3Q20

10

14000

2000

1000

4000

8000

6000

10000

12000

1Q20

08

Bhawanipur

em BypassAlipore salt Lake

Behela

PA shah Road Tollygunge

BallygungeNew Town - Rajarhat

Loudon streetVIP Road

INR

per

sq ft

Bhaw

anip

ur

PA s

hah

Road

Tolly

gung

e

Loud

on s

tree

t

Behe

la

Alip

ore

em B

ypas

s

Bally

gung

e

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4000

6000

8000

10000

12000

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THE KNOWLEDGE REPORT | 3Q 2011 | REsIDENTIAL | sUBMARkETs

MumbaiThe high-end residential real estate markets in mumbai include malabar hill, Altamount Road, carmichael Road, Napean sea Road, Breach candy, colaba, cuffe Parade, Prabhadevi, Worli, Bandra, Khar, santacruz, Juhu and Powai.

DelhiThe prime residential areas in Delhi are in the south region and comprise Vasant Vihar, Westend, shanti Niketan, Anand Niketan and central Delhi locations. These areas enjoy proximity to embassies, the airport and central commercial areas - connaught Place.

GurgaonThe prime residential locations of Gurgaon include Golf course Road, DLF Phase I, sushant Lok and sohna Road. The Delhi- Jaipur highway (Nh-8) is also emerging as a preferred residential location owing to its proximity to the national capital.

NoidaNoida premium residential market is comprised of sectors 44, 50, 92, 61, 62, 63 , 28, 29, 30 and Taj express highway.

ChennaiThe prime residential areas in chennai include Thiruvanmiyur, Valmiki Nagar and Besant Nagar, R.A Puram, mylapore and Adyar in south chennai, Nungambakkam, chetpet, Poes Garden, egmore, Alwarpet, T. Nagar in central chennai; and Anna Nagar, Kilpauk in North West chennai.

BengaluruThe residential market of Bengaluru comprises both apartments and independent residences. currently, high-end residential developments are mainly concentrated along the cBD, and eastern and south precincts of the city. Recently, Northern Bengaluru has also witnessed a spree of realty activity facilitated by the new International Airport at Devanhalli.

KolkataThe prime residential areas in Kolkata include PA shah Road, Tollygunge and Bhawanipur in south Kolkata, Alipore and Behala in south-west Kolkata, Loudon street and Ballygunge in central Kolkata; and salt Lake, em Bypass and VIP Road in North Kolkata.

RESIDENTIAL SUBMARKETS

CITY BAROMETER

Increasing as compared to previous quarter

Decreasing as compared to previous quarter

Remained stable from previous quarter



colliers International (India) provides property services to property Investors and Occupiers. We deliver customised service solutions utilising local and global knowledge in partnership with our clients via our property Investment and Occupier service lines. These service lines include - Office services, Facility management, Land sales, Project management, Residential services, Retail services, Investment services and Valuation & Advisory services.

For more information please visit www.colliers.com/india

Mumbai : George mckay, south Asia Director [email protected] Poonam mahtani, Office Director [email protected] 31/A, 3rd floor, film center, 68, Tardeo Road, mumbai - 400 034. Tel : 91 22 4050 4500 Fax : 91 22 2351 4272

New Delhi : Vikas Kalia, National Director [email protected]

Ajay Rakheja, Office Director [email protected] 2204/205, 2nd floor, Kanchenjunga Building, 18, Barakhamba Road, New Delhi - 110001. Tel : 91 11 4360 7500 - 23 Fax : 91 11 2335 6624 Bengaluru : Joe Verghese, managing Director [email protected]

Goutam chakraborthy, Office Director [email protected] Prestige Garnet, Level 2, Unit No.201/202, 36 Ulsoor Road, Bengaluru - 560 042. Tel : 91 80 4079 5500 Fax : 91 80 4112 3131 Pune : suresh castellino, Office Director [email protected] hotel Le meridien, 101 R.B.m. Road, Pune - 411 001. Tel : 91 20 4120 6435-38

Gurgaon : saacketh chawla, Office Director [email protected] Technopolis Building, 1st floor, DLF Golf course main Road, sector 54, Gurgaon - 122002. Tel : 91 124 437 5807 Fax : 91 124 437 5806

Chennai : Kaushik Reddy, Office Director [email protected] heavitree complex, Unit 1c, 1st floor, 23,spurtank Road, chetpet, chennai - 600 031. Tel : 91 44 2836 1064 Fax : 91 44 2836 1377

Kolkata : Joe Verghese, managing Director [email protected] Infinity Business centre, Infinity Benchmark, Room No 13, Level 18, Plot G - 1, Block eP & GP, salt Lake sector V, Kolkata - 700 091. West Bengal, India. Tel : 91 33 2357 6501 extn : 206, Fax : 91 33 2357 6502

Recent Reports :

- India Office Property market Overview - 3Q 2011- Asia Pac Office market Overview - 3Q 2011- Global Office market highlights - First half 2011- Global Industrial market highlights - First half 2011

This book is printed on 100% Recyclable paper

THE KNOWLEDGE REPORT | 3Q 2011


This report and other research materials may be found on our website at www.colliers.com/India. Questions related to information herein should be directed to the Research Department at the number indicated above. This document has been prepared by colliers International for advertising and general information only. colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

© copyright 2011 - 2012 All Rights Reserved.

AUTHORS

Amit Oberoi MRICSNational Director, Valuation & Advisory; Researchemail: [email protected]

Surabhi Arora MRICSAssociate Director, Researchemail: [email protected]

Sachin SharmaAssistant manager, Researchemail: [email protected]

For general queries and feedback :[email protected] Tel: 91 11 4360 7542

For Press enquiries:Poonam MahtaniNational Director, Knowledge systememail: [email protected]

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Over 12,500 professionals

residential property market overview 3q 2011

Education

percent quarter

previous quarter gdp

altamount road

capital values

carmichael road project

carmichael road khar

cuffeandherinapeansea

residential mumbai mumbai3q