BENGALURU RESIDENTIAL DECEMBER 2018

MARKETBEATS
34% 14% 49%
S H A R E O F E A S T S U B MA R K E T IN C R E A S E IN U N IT S H A R E O F MI D S E G ME N T
IN N E W L A U N C H E S ( Q 4 2 0 1 8 ) LAUNCHES (QoQ) (Q4 2018)

RENTAL VALUES AS OF Q4 2018*

HIGHLIGHTS SUBMARKET
Average Quoted
Rent (INR/Month)
QoQ YoY
Change Change
(%) (%)
Short term
outlook

High-End Segment
Mid Segment push to launches Central 120,000-350,000 0% 0%
In comparison to 2017 there was a three times rise in new launches in the city in 2018. New launches South 60,000-120,000 0% 0%
during Q4 were dominated by the mid segment which accounted for 49% of the share, followed by the East 70,000-300,000 0% 0%

affordable category with a 16% share. The focus of launching projects is moving towards growth North 60,000-150,000 0% 0%
Mid Segment
corridors along major arterial roads. 34% of the new launches were in East submarket, in areas, Varthur,
Central 70,000 – 100,000 0% 0%
KR Puram. This was followed by 33% share of South West submarket in areas like Kanakpura road, South East 25,000 – 45,000 0% 0%
Kengeri. North West 25,000 – 35,000 0% 0%
West 20,000 – 30,000 0% 0%
GST Impact on Real Estate, a Mixed Bag
GST council meet in Q4 2018 brought up key ruling related to ready to move in projects where the
CAPITAL VALUES AS OF Q4 2018*
QoQ YoY
Average Quoted Short term
completion/occupancy certificate is not issued at the time of sale, wherein such projects will attract 12% SUBMARKET Rate (INR/sf)
Change Change
outlook
(%) (%)
GST. With most of the developers already reeling with unsold inventory this can further deter a customer High-End Segment
to buy from them and rather opt for investor stock in a project. However, cheer could be in place in 2019 Central 18,000 –30,000 0% 0%
South 7,000 – 10,500 0% 0%
if GST rates for under construction projects can become 5%. With market sentiment being bullish post 6,500 – 10,000
East 0% 0%
RERA the reduction in GST is bound to further boost the residential sector prospects in the city. North 7,000 – 11,000 0% 0%
Mid Segment
Senior Living Gaining Foothold in the City Central 9,500 – 13,000 0% 0%
A Cushman & W akefield Senior living continues to gain popularity as 2018 saw many such projects being launched. Key projects 4,300 – 5,700
East 0% 0%
Research Publication
being Parkside East in Sarjapur by Brigade group and Avighna by Manasum Retirement Homes in South East 4,500 – 6,500 0% 0%
North 4,500 – 6,000 0% 0%
Jigani. Brigade group launched 3 senior living projects - Parkside West, Parkside North and Parkside South 4,500 – 6,500 0% 0%
DATA
INTO East in 2018. These are either part of an integrated township or are in proximity of a neighborhood with Off Central I 7,000-10,000 0% 0%
ACTION Off Central II 6,500-8,500 0% 0%
good health infrastructure, targeted to attract senior citizens. Further traction in this sector is expected in 6,000 – 6,750
North West 0% 0%
2019, as life expectancy and nuclear families increase and seniors need an independent, secure Far South 3,750 - 4,500 0% 0%
www.cushmanwakefield.com 4,000 –5,000
West 0% 0%
residential society.
 BENGALURU RESIDENTIAL
MARKETBEATS DECEMBER 2018
Rohan Sharma
Director
Research Services, India
SIGNIFICANT PROJECTS LAUNCHED IN Q4 2018
Tel: +91 124 4695555
Email: BUILDING LOCATION DEVELOPER UNITS LAUNCHED RATE**(INR/SF)
Rohan.Sharma1@cushwake.com Varthur-Gunjur Main
Brigade Cornerstone Utopia Road
Brigade Group 4,000 8,169

Provident Central Park Kanakpura Road Provident Housing 2,000 5,500

Prestige Primerose Hills VV Nagar Prestige Group 1,150 5,000

SIGNIFICANT PROJECTS UNDER CONSTRUCTION IN Q4 2018

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION

Provident Parksquare Kanakpura Road Provident Housing 2082 Q4 2021

Brigade Bricklane Kogilu Road Briagde Developers 749 Q4 2021
Parkwest - Mahogany –Tower 7 Hosakere Road Shapoorji Palonji 182 Q1 2023

SIGNIFICANT CONSTRUCTION COMPLETIONS IN Q4 2018

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS UNIT SIZE (SF)

Prestige Lakeside Habitat Varthur Road Prestige Group 3,697 900-3,575

DATA
INTO
ACTION
A Cushman & W akefield
Research Publication
Cushman & Wakefield (NYSE: CWK) is a leading global real estate
services firm that delivers exceptional value by putting ideas into
action for real estate occupiers and owners. Cushman & Wakefield is
among the largest real estate services firms with 48,000 employees in
approximately 400 offices and 70 countries. In 2017, the firm had
revenue of $6.9 billion across core services of property, facilities and
project management, leasing, capital markets, valuation and other
services. To learn more, visit www.cushmanwakefield.com or follow
@CushWake on Twitter.
www.cushmanwakefield.com
Copyright © 2018 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Purva Skydale Harlur road Puravankara Developers 312 1,322-1,777
Data collated from primary and secondary resources. Estimations are subject to change
* Rental and capital values have been depicted only for key submarkets
** Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development Charges, etc.
The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
KEY TO SUBMARKETS
High-end Segment
Central: Lavelle Road, Palace Cross Road, Off Cunningham Road, Ulsoor Road, Richmond Road, Sankeys Road
South: Koramangala, Bannerghatta Road, JP Nagar, Banashankari
Off Central: Frazer town, Benson Town, Richards Town, Dollars Colony
East: Whitefield, Old Airport Road
North: Hebbal, Jakkur, Devanahalli
North-west: Malleshwaram, Rajajinagar, Yeshwantpur
Mid Segment
Central: Brunton Road, Artillery Road, Ali Askar Road, Cunningham Road
East: Marathahalli, Whitefield, Old Airport Road, Old Madras Road, Budigere Cross
South-east: Sarjapur Road, Outer Ring Road (Marathahalli- Sarjapur), HSR Layout, Hosur Road
South: Jayanagar, J P Nagar, Kanakapura Road, Bannerghatta Road, BTM Layout, Banashankari
North: Hebbal, Bellary Road, Yelahanka, Doddaballapur Road, Hennur Road, Thanisandara Road
Off Central-I: Vasanth Nagar, Richmond Town, Indiranagar
Off Central-II: Cox Town, Frazer Town, Benson Town, etc.
North-west: Malleshwaram, Rajajinagar, Tumkur Road
Far South: Electronic City
West: Mysore Road, Uttarahalli Main Road, Magadi Road