PropIndex | Magicbricks

Residential Market Insights

New Projects driving demand in peripheral locations

Thane Market had a decent quarter, with price index moving up by 1.1% QoQ with new supply tapered in the city. Asa satellite city to Mumbai with local railways and road connectivity, the Thane market had seen rapid growth. Still,due to the lack of any significant commercial development, the city's long term growth seems capped.

Having said that, the upcoming metro lines bring Mumbai closer to Thane. The development of Powai, Kanjurmarg,and Mulund as commercial hubs drove the demand of residential sector in Thane being an affordable market.

While the Ready to move segment has grown just under 7% in the last 5 years, falling much behind inflation,Under-construction segment's strong price growth with development from Grade A developers of Mumbai haspropped up the city's realty sector.

5 YearChange YoY QoQ

1.1%1.3%6.8%

5 YearChange YoY QoQ

2.3%3.8%26.7%

"Under-constructionsegment witnessed amuch stronger growth,registering 26.7% priceincrement in last 5

years"

Thane Q4 2019

Parameters India Thane

Demand+ +4.0% +4.0%Supply++ +1.5% -0.5%Price Index+++ +1.2% +1.1%

"City prices grew by amoderate 6.8% in thelast 5 years, with a1.1% QoQ growth"

Notes: + represents the QoQ change in volume of propertysearches on Magicbricks website in Q4 2019 ++ represents the QoQ change in volume of active listingson Magicbricks website in Q4 2019 +++ represents the QoQ change in the weighted averageprice at India and city level..

Key Developers based onactive listings

Lodha Group

Kalpataru

Dosti Realty

Puranik Builders

Runwal Developers

Rustomjee

Hiranandani Group

Raunak Group

Godrej Properties

Neelkanth Group

Key Projects based on con..

Lodha Amara Kolshet Road

Haware Citi Kasarvadavali

Dosti Vihar Pokhran Road

Regency Sarvam Titwala

Lakeshore Greens Palava

Rustomjee Urbania Majiwada

Lodha Heaven Dombivli East

Mohan Nano EstatesAmbernath West

Lodha Luxuria Majiwada

Poddar Evergreens Badlapur East

Price Bracket (INR/sqft)

< 5000 5000-8000 8000-11000 > 11000

RM UC RM UC RM UC RM UC

1.8%2.1%

3.8%3.4%

4.0%

-0.1%

1.2%

-0.3%

YoY changes in various price segments

Market Dynamics

Ready to Move Price Index

Under Construction Price Index

- Line 4 and Line 5 of the Mumbai Metro,as well as the newly announced ThaneMetro, is likely to drive the next phase ofgrowth in the Thane residential market,and keep it in competition with the NaviMumbai market.

- Strong preference for 1BHKs in Thane isindicating buyer 's price sensitivity, andany further price increases will forcedevelopers to shift to 1BHKconfiguration developmentsincreasingly.

- Ghodbunder Road to again be the focusof development as the metroconstruction progresses.

"While the UC segmentgrew more than 1% forall budget segments,RM segment had

marginal price declinesfor 'greater than INR8,000 per sqft'segments."

Key Trends to Watch Out

2014

2015

2016

2017

2018

2019

2020

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Avg. Price psf

2013

2014

2015

2016

2017

2018

2019

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Avg. Price psf

Average Price INR psf

Average Price INR psf

Note:The above table represents the top developers by numberof active listings on Magicbricks website in Q4 2019

Source: Magicbricks Research

Note:The above table represents the top projects by consumerpreference on Magicbricks website in Q4 2019

Source: Magicbricks Research

Notes:1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only Source: Magicbricks Research

Notes:1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 20192. The data represents price trend for properties in multistorey and builder floors only

Source: Magicbricks Research

Note:Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets

Source: Magicbricks Research

Page 1© magicbricks.com

1 BHK55%

3 BHK9%

Above 3 BHK1%

2 BHK35%

DEMAND

Demand Supply Analysis Thane Q4 2019

Affordable properties attracting demand

1BHK configuration most preferred in a costly marketPrice appreciation starting tocause demand-supplymismatches

In Q4 2019, the consumers continuedgalvanizing towards the affordable propertiesalthough price appreciation is bringinginvestment ticket size in established localitiesof Thane such as Ghodbunder Road and Thanewest on the same levels as of popular peripherallocations of Mumbai such as Dahisar andMira-Bhayandar.

"1BHKs strongly dominated theThane market, forming 55% ofthe searches, as buyers lookedfor affordable properties in acostly market. 2BHKs followed

with 35% searches."

- 1 and 2 BHK searches have dominated the cityin the quarter, crowding out higher BHKconfigurations, with 3BHK and above receivingjust 10% of the searches.

- 4 BHKs and above form just 1% and 2% of thedemand and supply in the Thane market,indicating buyer resistance to shifting towardsthe premium segment.

- A similar affordability story played out inpreference for price segments, with almost 40%of the buyers preferring apartments costing lessthan INR 5,000 per sqft. However, a slightsupply-side mismatch was evident, with Thanemarket offering less than 25% of its propertiesin the 'less than INR 5,000 per sqft' segment.

Top Micromarkets by consumersearches

Propensity of demand and supply in terms of searchesand listings by localities

1 BHK39%

2 BHK46%

3 BHK13%

Above 3 BHK2%

SUPPLY

8000-1100025%

5000-800022%

> 1100029%

< 500024%

SUPPLY Price buckets in INR per sqft

Top Micromarkets by activelistingsa

8000-1100019%

5000-800020%

> 1100021%

< 500039%

DEMAND Price buckets in INR per sqft

Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHK) configuration2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration

Source: Magicbricks Research

.Notes:1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets2. Supply represents active listings on Magicbricks website during Q4 2019, 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 Q4 20192. 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 Q4 20192. 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 Q4 20192. Price ranges represent the range of avg locality prices in themicromarket in INR per sqft.

Source: Magicbricks Research

Thane East

Shilphata

Bhiwandi

Vangani

Titwala

Karjat

Neral

© OpenStreetMap contributors

Demand/SupplyDemand

Dombivali 4177 - 8547

Kalyan 3139 - 8098

Ghodbunder Road 7208 - 12756

Ambernath-Badlapur

3103 - 5085

Ghodbunder RoadPrime

8636 - 21339

11

32

23

74

45

Ghodbunder Road 7208 - 12756

Dombivali 4177 - 8547

Ghodbunder RoadPrime

8636 - 21339

Kolshet 8831 - 14237

Majiwada 8377 - 13621

11

22

33

44

55

Micro-Market Price Range Q4 Rank Q3 Rank

(Price in INR per Sqft)

Micro-Market Price Range Q4 Rank Q3 Rank

Page 2© magicbricks.com

Note:1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 20192. Color of the bubble represents price change in Q4 2019, 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.

Locality NameAvgPrice

QoQChange

Boisar

Asangaon

Palghar

Neral

Karjat

Badlapur West

Badlapur

Badlapur East

Mumbra

Ulhas Nagar

Ambernath East

Titwala

Ambernath West

6.1%

6.0%

6.1%

-1.6%

-2.1%

4.5%

-0.5%

5.9%

2.4%

5.9%

-1.4%

4.1%

3.7%

5.9%

-4.4%

-6.9%

4,544

4,395

4,195

4,183

4,179

4,176

4,132

4,114

3,805

3,804

3,662

3,397

3,380

3,364

3,175

3,171

< INR 5,000 psf INR 5,000-8,000 psf INR 8,000-11,000 psf > INR 11,000 psf

Price Analysis Thane Q4 2019

- Most of the significant peripheral localities - Dombivli, Kalyan, Ambernath, and Badlapur, which are also major industrial and employment centres of Thane,witnessed positive price changes for the quarter.- Price decline was mostly witnessed along the premium pockets located along the Ghodbunder Road.- The mid-segment consisting of localities in the 'INR 5,000-8,000 per sqft' price segment had most of its localities witnessing price increments.

Source: Magicbricks Research

Ambernath West-1.6%

Dombivli East3.8%

Ulhas Nagar-0.5%

Thane East2.8%

Shilphata6.1%

Bhiwandi6.1%

Mumbra5.9%

Titwala-2.1%

Neral3.7%

© OpenStreetMap contributors

Locality NameAvgPrice

QoQChange

Kalwa

Kasarvadavali

Owale

Bhayanderpada

Anand Nagar

Brahmand

Waghbil

Kavesar

Ghodbunder Road

Balkum Village

Dhokali -3.0%

3.9%

-0.6%

1.7%

-1.1%

1.2%

1.1%

-7.1%

4.0%

-1.9%

1.2%

10,990

10,860

10,396

10,226

10,172

10,074

10,002

9,532

9,258

9,078

9,038

Locality Name Avg PriceQoQ

Change

Vartak Nagar

Majiwada

Kolshet Road

Manpada

Thane West

Patlipada

Kapurbawdi

Pokhran Road

Vasant Vihar

Hiranandani Estate

Thane East

Pokharan Rd No 2

Teen Hath Naka

-6.9%

0.3%

2.8%

-2.5%

5.9%

2.8%

-6.5%

-5.2%

-3.3%

5.9%

1.8%

1.5%

-2.9%

3.7%

-0.9%

-0.5%

18,424

15,232

15,105

14,902

13,306

13,132

13,004

12,672

12,666

12,389

12,250

11,862

11,822

11,669

11,562

11,504

-7.5% 7.5%

Avg Price Change %ge

Note:1. Above is the list of major localities of the city, with information about their average prices and QoQ price changes in Q4 2019. 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 Q4 2019, 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.

Q4 2019 Price changes for the city's major localities

Locality Name Avg PriceQoQ

Change

Dombivli

Dombivli East

Dombivli West

Kalyan

Kalyan East

Kalyan West

Palava

Shilphata

Thakurli 6.1%

6.1%

-3.2%

3.8%

6.0%

4.1%

2.0%

3.8%

2.0%

7,278

6,227

6,170

6,562

5,433

6,294

6,796

6,181

6,424

Surabhi Arora | Head of Research Devendra Lohmor | Chief Manager Ankur Upadhyay | Data Manager Prateek Pareek | Assistant Managersurabhi.arora@magicbricks.com devendra.lohmor@magicbricks.com ankur.upadhyay@magicbricks.com prateek.pareek@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:

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

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