MUMBAI RESIDENTIAL MARCH 2019

MARKETBEATS
20%
GROW TH IN UNIT
60%
SHARE OF MID
49%
SHARE OF EXTENDED SUBURBS
LAUNCHES (QoQ) SEGMENT IN Q1 2019 IN LAUNCHES (Q1 2019)

HIGHLIGHTS RENTAL VALUES AS OF Q1 2019*

Average Quoted Rent QoQ YoY Short term
Submarket
New launches continue to grow (INR/Month) Change (%) Change (%) outlook
High-end segment
Quarterly unit launches continued to grow in Q1 2019, recording a 20% q-o-q increase,
South 60,000 – 700,000 0% 0%
with majority of project launches seen in Extended Eastern and Western Suburbs along South Central 60,000 - 550,000 0% 0%
with the Thane submarket. These three submarkets contributed nearly 72% of quarterly Eastern
25,000 – 400,000 0% 0%
Suburbs
launches in Q1 2019. Major developers active during the quarter were Puranik Builders, Western
50,000 – 800,000 0% 0%
Suburbs-Prime
Lodha Group, Hiranandani Developers, Shapoorji Pallonji Real Estate and SD Corp. Mid segment
Eastern
18,000 – 70,000 0% 0%
Suburbs
Affordable and mid segment driving demand Western
Suburbs
20,000 – 80,000 0% 0%
Affordable and mid-segment housing continued to remain the preferred categories for Thane 14,000 – 28,000 0% 0%
buyers when making home purchase decisions. To cater to this growth segment, Navi Mumbai 10,000 – 50,000 0% 0%

developers remained focused on launching projects in these segments. The share of mid-
segment projects was 60% of the total unit launches during the quarter, followed by the CAPITAL VALUES AS OF Q1 2019*
Average Quoted Rate QoQ YoY Short term
affordable segment holding a 36% share. The change in GST rates for under-construction Submarket
(INR/sf) Change (%) Change (%) outlook
projects (5% GST on all under-construction units which do not fall in the affordable High-end segment
South 40,000 – 83,000 0% 0%
category) did not bring any significant positive change in residential sales. Buyers are still South Central 22,000 – 73,000 0% 0%
preferring ready to move in or nearing possession residential units across all submarkets. Eastern
12,000 – 40,000 0% 0%
A Cushman & W akefield Suburbs
Research Publication Western
12,000 – 35,000 0% 0%
Suburbs
Capital values remain constant Mid segment
DATA The quoted average capital values across all submarkets were stable during the quarter; Eastern
10,000 – 24,000 0% 0%
INTO Suburbs
ACTION however we continue to see actual transactions taking place at a minor discount of 5-10% Western
9,000 – 26,000 0% 0%
Suburbs
on quoted rates. Going forward, we expect rental and capital values to remain largely Thane 7,000 – 14,000 0% 0%
www.cushmanwakefield.com stable across majority of the submarkets. Navi Mumbai 5,000 – 15,000 0% 0%
 MUMBAI RESIDENTIAL
MARKETBEATS MARCH 2019
Rohan Sharma
SIGNIFICANT PROJECTS LAUNCHED IN Q1 2019
Director
Research Services
Tel: +91 124 4695555 BUILDING LOCATION DEVELOPER UNITS LAUNCHED RATE**(INR/SF)
Rohan.Sharma1@cushwake.com
Puranik City Neral Puranik Builders 16,56 5,995

Hiranadani Regent Hill Powai Hiranadani Developers 1,021 33,333

SD Corp Sarova – Siennaa Kandivali SD Corp 867 23,001

SIGNIFICANT PROJECTS UNDER CONSTRUCTION IN Q1 2019

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION

Indiabulls Green – Phase II Panvel Indiabull Real Estate 5,805 Q4 2022

Lodha Upper Thane Thane Lodha Developers 2,743 Q4 2020 – Q1 2023

Hiranadani Palace Garden Panvel Hiranadani Developers 2,600 Q1 2020

SIGNIFICANT CONSTRUCTION COM PLETIONS IN Q1 2019

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

Hiranandani Zen Powai Hiranadani Developers 18,50 380 - 745

Green World Airoli Akshar Developers 858 960 – 1,680
JV – Wadhwa Group, MAN
Atmosphere Mulund West 576 690 – 920
Infraconstruction & Chandak Group

Data collated from primary and secondary resources. Estimations are subject to change
DATA * Rental and capital values have been depicted only for key submarkets
INTO
** Quoted capital value on carpet area based on agreement values which includes, Base Rate, Car Parking Charges, Internal Development Charges, etc.
ACTION The above values for high-end segment are for units typically of 1,200-3,000 sf
The above values for mid segment are for units typically of 800-1,400 sf
^Affordable housing has been defined as units with a carpet area of 60 sq.mt in metros / 90 sq.mt in non-metros and value up to INR 45 lakhs

A Cushman & W akefield KEY TO SUBMARKETS

Research Publication
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High-end Segment
South: Colaba, Cuffe Parade, Nariman Point, Churchgate, Altamount Road, Carmichael Road, Malabar Hill, Napeansea Road, Breach Candy, Pedder Road, Tardeo
South Central: Worli, Prabhadevi, Lower Parel / Parel, Dadar, Matunga
Eastern Suburbs: Wadala, Sion, Kurla, Chembur, Ghatkopar, Vikhroli, Powai, Chandivali
Western Suburbs - Prime: Bandra, Khar, Santacruz, Juhu
Western Suburbs: Andheri, Vile Parle, Jogeshwari, Goregaon, JVLR, Malad
Mid Segment
Eastern Suburbs: Sion, Wadala, Kurla, Chembur, Ghatkopar, Vikhroli, Powai, Chandivali, Kanjurmarg, Bhandup, Mulund
Western Suburbs: Andheri, Jogeshwari, Goregaon, JVLR, Malad, Kandivali, Borivali, Dahisar
Thane: Thane, Ghodbunder Road
Navi Mumbai: Airoli, Ghansoli, Rabale, Koparkhairane, Vashi, Turbhe, Sanpada, Nerul, Belapur, Kharghar, Panvel

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