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PropIndex | Magicbricks ThaneJuly-Sep 2020

Residential Market Insights

Thane residential market driven by improving infrastructure and connectivity to Mumbai

With augmented searches to the tune of 44% QoQ in Q3 2020, against a 33% dip in Q2, Thane continued to be one ofthe most favoured real estate destinations in the Mumbai Metropolitan Region (MMR).Thane witnessed marginalprice growth of 1% in Q3 2020, following a decline of 0.6% in Q2 2020.

The state government has decided to slash the stamp duty to 3% (from 6% earlier), while the Maharashtra Chamberof Housing Industry (MCHI) Kalyan Unit has decided to waive off the remaining 3% stamp duty. Additionally, thevarious offers and discounts by the developer-members of NAREDCO, which may boost the buyers' sentiment andwould provide impetus for residential demand in the future.

Market DynamicsParameters India Thane

Demand+ 53.1% 43.8%Supply++ -9.1% -29.2%Price Index+++ 0.3% 1.0%

Notes:Above parameters represent QoQ change in Q3 2020 atIndia and city level + change in volume of property searches ++ change in volume of active listings +++ change in the weighted average price

Source: Magicbricks Research

Ready to Move Price Index

2016

2017

2018

2019

2020

2021

6,000

7,000

8,000

9,000

Average Price INR per sqft

"The Ready-to-movesegment witnessed aprice growth of 3%YoY due to shift inbuyers' preferencetowards readyproperties"

5 Years YoY QoQ

1.0%3.3%8.1%

Notes:1. Ready to move price index represents the weighted average price of completed properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city. Source: Magicbricks Research

Key Developers based on activelistings

Lodha Group

Kalpataru

Runwal Developers

Puranik Builders

Hiranandani Group

Rustomjee

Dosti Realty

Raunak Group

Piramal Realty

Mohan Group #

#

#

#

#

#

#

#

#

#

Note: The above table represents the top developers byshare of active listings on Magicbricks website in Q32020


Under Construction Price Index

2016

2017

2018

2019

2020

2021

6,000

7,000

8,000

9,000

Averge Price INR per sqft

"Prices forunder-constructionsegment remainedrelatively flat QoQ, onthe back of high

availability of unsoldunits"

5 Years YoY QoQ

0.5%0.4%23.8%

Note:1. Under-construction price index represents the weighted average price of under-construction properties on Magicbricks website as on Sep 20202. The trend line represents the average prices of dominant asset class in each locality of the city.


Key Projects

Project Name Locality

Lodha Amara Kolshet Road

Lodha Splendora Ghodbunder Road

Hiranandani MeadowsManpada

Lakeshore Greens Palava

Dosti Imperia Manpada

Sheth Avalon Majiwada

One Hiranandani ParkHiranandani Estate

Rustomjee Urbania Majiwada

Piramal Vaikunth Balkum village

Acme Ozone Ghodbunder Road

Regency Anantam Dombivli East

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q3 2020


Average changes in prices for localities in various price segments

< 5,000 5,000-9,000 9,000-13,000 > 13,000

RM UC RM UC RM UC RM UC

0.2%

2.6%

-0.3%

1.3%

-0.3%

1.5%

-1.8%

0.6%

"No significant trendvisible for price changesacross ready-to-moveand under-construction

categories"

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 Sep 2020


In the News

- According to secondary sources,Maharashtra Govt. may reduce theReady Reckoner rates by October 2020,along with about 10-15% reduction inFSI Premiums payable by builders. Thismay help in reducing the prices ofhomes.

- The Lodha Upper Thane project inBhiwandi received final approval to befunded under The SWAMIH Fund set upby the government for stressed realestate projects. This would help intimely completion of the said project.

© magicbricks.com Page 1

Demand Supply Analysis Thane | July-Sep 2020

Above 3 BHK2%

2 BHK43%

1 BHK40%

3 BHK 14%

DEMAND

Above 3 BHK2%

2 BHK47%

1 BHK37%

3 BHK14%

SUPPLY

9,000-13,00032%

5,000-9,00037%

> 13,00016%

< 5,00015%

SUPPLY

Ambernath West

Khadipar Road

Kalyan West

Ulhas nagar

Kalyan East

Sonar Pada

Thane East

Shilphata

Bhiwandi

Mumbra

Thakurli

Titwala

Shahad

Kasheli

KalwaDiva

Dombivli East

Majiwada

Kolshet Road

Ghodbunder Road

© 2020 Mapbox © OpenStreetMap

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

Top Micromarkets by Consumer Searches

Ghodbunder Road 6900-13100

Majiwada 8100-13600

Dombivali 4600-8800

Kalyan 3500-8000

Ambernath-Badlapur 3200-5200

Kolshet 8900-14300

Western Thane 8800-20000

11

42

33

54

25

66

77

Micro Market Price Range RankQ3-20

RankQ2-20

Ghodbunder Road 6900-13100

Majiwada 8100-13600

Dombivali 4600-8800

Kolshet 8900-14300

Kalyan 3500-8000

Ambernath-Badlapur 3200-5200

Hiranandani Estate 9600-15800

11

22

33

44

55

66

87

Micro Market Price Range RankQ3-20

RankQ2-20

Top Micromarkets by active listings

Thane market thriving on developedinfrastructure and mature buyers

Following a similar trend as in the MMR, searchesfor mid-sized homes such as 2BHK exceeded thosefor 1 BHK. The share of 1BHKs shrunk from 52% inQ2 2020 to 40% in Q3.

With most of the service-sector populationworking from home (WFH) since March 2020,buyers in Thane were seen increasingly opting forapartments with more than one bedroom.

"Buyer preferences shifting from 1 BHKto 2 BHK in Thane"

In addition, stamp duty relief, discounts andfreebies, reduced home loan interest rates andflexible payment offers were influential inimproving buyer sentiment over the quarterending September 2020.

- According to Magicbricks research, the share ofproperty searches for affordable localities such asBadlapur, Ambernath, Titwala and Ulhasnagardropped significantly to 22% in Q3 2020 against41% in Q2 2020, owing an overall employmentuncertainty with the low- and mid-incomepopulation.

- As per our data, the demand for localities pricedin the INR 5,000-13,000 per sqft range, includingDombivli, Kalyan, Ghodbunder Road, PokhranRoad, Kasarvadavali and Kolshet, among others,increased by 15% QoQ. Most likely due to the factthat more buyers are choosing the convenience ofbetter social amenities and connectivity toemployment hubs over lower prices in fartherlocalities.

Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by BHK configuration


Demand dominated by 2BHK and 1 BHK configurations

Demand as well as supply concentrated in areas between INR 5,000-13,000 per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q3 2020, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q3 2020, segregated by price buckets


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 Q3 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.


Note:1. Top micro-markets of the city, ranked by their active listings onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Note:1. Top micro-markets of the city, ranked by number of searches onMagicbricks in Q3 20202. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.


Demand/SupplySupply

9,000-13,00030% 5,000-9,000

32%

> 13,00017%

< 5,00022%

DEMAND


Price Analysis Thane | July-Sep 2020

Q3 2020 | Price Changes in Key Localities

Locality Avg.Price

PriceChange

Neral

Boisar

Badlapur West

Titwala

Ambernath East

Ambernath

Badlapur East

Badlapur

Ambernath West

Palghar

Diva

Mumbra

Karjat -7.5%

-7.5%

-5.6%

0.0%

0.5%

1.3%

1.6%

2.0%

2.3%

2.4%

2.9%

3.2%

7.5%

3,324

3,339

4,741

3,398

4,106

3,921

3,957

4,287

4,401

4,396

3,917

3,195

3,577

Locality Avg. Price PriceChange

Bhiwandi

Dombivli West

Thakurli

Dombivli

Kalyan

Kalyan West

Shilphata

Dombivli East

Kalyan East

Palava

Owale

Kalwa -2.1%

-2.0%

-1.4%

0.0%

0.2%

1.0%

1.2%

1.3%

1.4%

2.2%

6.5%

7.5%

8,974

8,829

5,786

5,627

6,165

6,133

6,668

6,374

6,400

7,331

7,328

5,212

Locality Avg.Price

PriceChange

Hiranandani Estate

Bhayanderpada

Kasarvadavali

Patlipada

Dhokali

Kavesar

Anand Nagar

Ghodbunder Road

Vartak Nagar

Kolshet Road

Waghbil

Vasant Vihar

Manpada

Thane West

Kapurbawdi

Majiwada

-5.2%

-5.1%

-5.0%

-3.7%

-3.1%

-0.7%

0.5%

0.7%

0.9%

2.5%

2.8%

4.3%

4.9%

5.4%

6.2%

6.9%

7.5%

7.5%

12,864

10,440

11,047

12,062

11,560

11,717

12,961

10,131

11,569

12,313

10,482

9,938

10,583

11,273

12,972

9,377

10,195

12,711

Locality Avg. Price PriceChange

Naupada

Pokhran Road

Teen Hath Naka -7.5%

3.4%

-1.5%

14,933

13,008

15,973

< INR 5,000 psf INR 5,000-9,000 psf INR 9,000-13,000 psf > INR 13,000 psf

Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q3 20202. Color of the bubble represents price change in Q3 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.

- The price growth was concentrated in central Thane areas including Kasarvadavali, Patlipada, Kavesar, Pokhran Road, Ghodbunder Road and Vartak Nagar,which witnessed price increments in the range of 3-7%.

- Prices in affordable localities including Ambernath, Badlapur, Titwala, Palava, Kalyan East and Shilphata remained flat on account of sluggish demand


Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q3 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 Q3 2020, with green color representing price increase, red color price decrease, and grey as neutral. Source: Magicbricks Research

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Deepak Rajput | Sr. Research [email protected] [email protected] [email protected] [email protected]

Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard.

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.

For more information and research related queries, please contact:

Ambernath West0.5%

Badlapur East1.6%

Dombivli East0.2%

Kalyan West1.2%

Kalyan East0.0%

Shilphata1.0%

Bhiwandi7.5%

Mumbra-7.5%

Titwala2.4%

Khadipar Road

Parsik Nagar

Kalwa-2.1% Diva

-5.6%Thane East

Shahad

Kasheli

Majiwada-5.0%

Ghodbunder Road2.8%

© 2020 Mapbox © OpenStreetMap

-7.5% 7.5%


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

PropInde2 S Magicbricks · 2021. 1. 4. · PropInde2 S Magicbricks T" ( J/&3TS * gege Residential...

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