PropIndex JAS'23 - Final

PropIndex | Indi
Magicbricks a
Jul-Sept
2023
Foreword Market
Dynamics
Pan India Level QoQ Demand, Supply and Rate Analysis
Over the last 12 months, India has
Region Demand Supply Rates
stood out as the world's fastest-
growing major economy in an
otherwise challenging global India 8.4% -7.2% 5.4%
economic landscape*.
Ahmedabad 7.9% -1.2% 0.7%
India’s GDP growth rate rose by
Bengaluru 13.5% -9.3% 3.8%
7.8% YoY in the April-June
quarter** of 2023, compared with Chennai 9.5% -12.0% 1.9%
6.1% in the January-March quarter
of 2023. Inflation rate after going Delhi 7.9% -10.3% 1.8%
through a seasonal increase is also
expected to come down over the Gr. Noida 38.9% -6.7% 5.3%
next 3 months as policymakers are Gurugram 8.2% 1.2% 13.8%
taking steps to ensure the same.
Hyderabad 5.4% -9.5% 5.8%
Sudhir Pai,
Kolkata 13.6% -9.0% 7.3%
CEO, Magicbricks
Mumbai -1.2% -4.4% 4.9%
However, in the last two quarters, the economy has been impacted by Navi Mumbai 8.9% -8.0% 2.9%
moderating overall demand and high inflation, leading to a slowdown in
economic activity. The Indian residential market mirrors this trend, with a Noida 20.4% -4.8% 8.5%
modest 3.4% year-on-year decrease in overall demand, aligning with prevailing
Pune 3.1% -9.7% 2.4%
economic sentiments and signaling a consolidation phase in the market.
Thane 4.0% -7.8% 5.2%
After recording a dip in the last quarter of 2022, the year 2023 set off on a
positive note for the Indian Real Estate sector with a surging housing demand. Notes:
Demand represents volume of property searches on Magicbricks website in Q1 2023.
This quarter the aggregate demand in the cities tracked by Magicbricks Supply represents volume of active listings on Magicbricks website in Q1 2023.
witnessed a growth of 8.4% QoQ. Rate represents the QoQ change in the weighted average price at India and city level
Search volumes in Greater Noida (38.9%), Noida (20.4%), Kolkata (13.6%) and
Bengaluru (13.5%) increased substantially QoQ, reflecting the still prevalent Average rates INR psf
positive sentiment amongst homebuyers. Prospective homebuyers continued
to prefer spacious units such as 3BHK and above as its demand commanded 30,000
52% of total demand in the key cities, up by 1% from last quarter.
With demand still outstripping supply across India, prices increased by 5.4%
QoQ & 18.3% YoY. Greater Noida and Gurugram lead in terms of capital 25,000
appreciation with aggregate prices increasing by 27.2% and 33.4% YoY
respectively. Prices of both ready to move and under construction segments
increased as demand outstripped supply
The aggregate supply however observed a substantial dip of 7.2% QoQ and 20,000
12.1% YoY during Q3 of 2023. The supply bottleneck can be attributed to
factors like declining land availability, strict regulations by most state RERAs,
increasing construction costs and focus of developers to clear the unsold
inventory. Developers are starting to align with the shifting demand patterns,
15,000
as indicated by an increase in the availability of 3 BHK and larger apartments;
while availability of 1 BHK and 2 BHK configurations declined compared to the
previous quarter.
While the previous quarter was affected by Union Budget announcements and 10,000
the assembly elections across various states already delaying the investment
decisions from most of the homebuyers, this quarter it seems to be on the
favorable side for the residential real estate market as fence sitters are
expected to start making investments.
5,000
Magicbricks research further foresees the residential market to maintain a
steady growth pace over the short to medium term with prices expected to
increase albeit at a slower pace. As we reflect on the macro tailwinds,
including the recently concluded G20 summit and the approaching festive 0
season, it is evident that a wave of optimism is building, poised to propel the
Ahmedabad
Bengaluru
Hyderabad
Thane
Pune
Gurugram
Navi Mumbai
Noida
Chennai
Delhi
Greater Noida
Kolkata
Mumbai
real estate sector forward in the coming months.
RM UC
Note:
* As per S&P Global Ratings Above table represents the average rates for Ready to move (RM) and Under construction (UC)
properties on Magicbricks website in Q1 2023 for the cities covered under the report.
** As per National Statistical Office Source: Magicbricks Research
© 2023 magicbricks.com Page 2

PropIndex | Indi
Magicbricks a
Jul-Sept
2023
National Level Analysis
Cover Area wise demand change analysis – QoQ and YoY

Larger Apartments continue to drive demand
at a PAN India Level JAS 22 4% 13% 37% 33% 11% 4%
As per Magicbricks research, prospective

customers are searching for more spacious AMJ 23 3% 13% 35% 33% 11% 4%
apartments. Demand for apartments which

have a cover area of greater than 1250 sq ft JAS 23 2% 11% 35% 33% 12% 7%
have increased by 1% QoQ and 2% YoY. On the
contrary, smaller apartments saw a demand 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
decrease by 2% YoY.
Below 500 500-750 750-1250 1250-2000 2000-3000 Above 3000
Also, apartments with 3 or more bedrooms

accounted for 52% of total demand this BHK wise Demand change analysis – QoQ and YoY
quarter.
This is not only to match the changing lifestyle JAS 23 9% 39% 41% 11%
of the urban population, but Larger
apartments tend to have better resale value,
making them attractive investments for the
future. Mumbai is one of the few markets in
India, where demand for 1 BHK and 2 BHK AMJ 23 11% 38% 40% 11%
units have surpassed higher configuration

units, primarily dues to the skyrocketing
property prices in the city. The smaller units (1 0% 10% 20% 130%
BHK 2 BHK 50%
40% 3 BHK 60%3+ BHK
70% 80% 90% 100%
BHK & 2 BHK) accounted for 69% of total

demand.
Configuration wise Supply change analysis QoQ and YoY
Developers following suit by launching bigger JAS 22 16% 38% 28% 10% 4%
apartments
AMJ 23 15% 37% 29% 11% 4%
On the supply side too, there is a similar
trend, with supply of bigger apartments
increasing by 1.5% YoY. Gurugram, JAS 23 14% 36% 29% 11% 7%
Ahmedabad and New Delhi have the highest

share of big apartments at 51%, 31% and 23% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
respectively. Below 500 500-750 750-1250 1250-2000 2000-3000 Above 3000
BHK wise Supply change analysis QoQ and YoY

The same can be said about unit types as well,
as 3 BHK and higher unit types have garnered
majority of the demand from prospective JAS 23 12% 40% 36% 11%
customers. Gurugram and New Delhi lead on
this front with 3 BHK and higher apartments
accounting for 81% and 70% of supply,
respectively.
AMJ 23 13% 41% 35% 11%
0% 10% 20% 130%

BHK 2 BHK
40% 3 BHK 60%
50% 3+ BHK70% 80% 90% 100%
Source: Magicbricks Research

PropIndex | Indi
Magicbricks a
Jul-Sept
2023
City Level Analysis
BHK wise demand share

100%
90%
In the 13 major cities covered in this
80%
report, 2 and 3 BHK configurations remain
70%
the most sought-after choices among
60%
homebuyers. Primarily, cities within the
50%
MMR and NCR regions exhibit a strong
40%
preference for 2 BHKs, while other cities
like Hyderabad and Bengaluru, in addition
30%
to MMR and NCR, top the list in the case
20%
of 3 BHKs.
10%
0%
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
1 BHK 2 BHK 3 BHK Above 3 BHK
Cover Area wise demand share

100%
90%
Overall, mid-sized properties (1,000-2,000
sf) were most preferred across all the top
80%
13 cities of India. Specifically, cities like
70%
Thane (53%), Kolkata (52%) and Navi
60%
Mumbai (50%) were popular for homes
50%
within 1,000-1,500 sf area. While
40%
Hyderabad (51%), Ahmedabad & Noida
30%
(48% each), Greater Noida (47%), etc.
20%
favored properties within 1,500-2,000 sf.
10%
0%
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
Below 500 500-1,000 1,000-1,500 1500-2000 2000-2500 Above 2,500
Budget wise demand share
100%
90%
80%
70%
60%
The highest demand for affordable
50%
housing units was observed in Greater
40%
Noida (75%), followed by Ahmedabad
30%
(63%) and Kolkata (52%). At the same
20%
time, cities of MMR and NCR preferred
10%
premium housing units including Mumbai
0%
(90%), Navi Mumbai (57%), New Delhi
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
(54%) and Gurugram (46%).
Below 5,000 5,000-7,500 7,500-10,000 Above 10,000

PropIndex | Indi
Magicbricks a
Jul-Sept
2023
City Level Analysis
BHK wise supply share

100%
90% In terms of supply, among the 13 major

80% cities in India analyzed in this report, 2
70% and 3 BHK configurations continue to
60% dominate the listings. Chennai, Navi
50% Mumbai, and Pune, for instance, have
40% 49% of their properties listed as 2 BHK
30% units, closely followed by other cities with
20% similar trends. Simultaneously,
10% Ahmedabad and New Delhi lead the
0% charts with 49% of their units listed as 3
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
BHKs.
Cover Area wise supply share

100%
In line with the demand, supply for
90%
properties ranging between 1,000 to
80%
2,000 sf was maximum for all the cities.
70%
Breaking it down further, units within
60%
1,000-1,500 sf were most supplied in
50%
Kolkata & Chennai (49% each), Pune
40%
(46%). Whilst cities such as Ahmedabad,
30%
Greater Noida and Hyderabad (44% each)
20%
had maximum supply for 1,500-2,000 sf
10%
area units.
0%
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
Below 500 500-1,000 1,000-1,500 1500-2000 2000-2500 Above 2,500
Budget wise supply share
100%
Cities recording highest supply for
90%
affordable units (<INR 5,000) include
80%
Ahmedabad (62%), Kolkata (56%), Greater
70%
Noida (53%). Simultaneously, premium
60%
properties were most popular in Mumbai
50%
(86%), New Delhi (55%), Thane (54%).
40%
30%
20%
10%
0%
Ahmedabad
Bengaluru
Hyderabad
Pune
Thane
Noida
Chennai
Navi Mumbai
New Delhi
Greater Noida
Kolkata
Mumbai
Gurugram
Below 5,000 5,000-7,500 7,500-10,000 Above 10,000

PropIndex | Magicbricks Ahmedabad
JUL-SEPT
2023
Residential MarketinInsights
Demand for housing Ahmedabad surged by 8% QoQ Market Dynamics
Parameters India Ahmedabad
During Q3 2023, the residential market in Ahmedabad experienced a significant 7.9% (QoQ) increase in demand, as Demand+ 8.4% 7.9%
indicated by the number of searches. However, there was a 1.2% QoQ decrease in residential listings. Prices remained Supply++ -7.2% -1.2%
stable, increasing by a modest 0.73% QoQ and 4.3% YoY. Rate Index+++ 5.4% 0.7%
In the previous quarter, AUDA and GUDA jointly proposed the preparation of a comprehensive development plan. This Notes:
led to a sustained increase in housing demand in Q3 2023. Concurrently, the decision by the Ahmedabad development Above parameters represent QoQ change in Q3 2023 at
authority to temporarily suspend zoning regulations for the conversion of agricultural land to residential use in the India and cit y level
+ change in volume of propert y searches
eastern part of the city has caused a decrease in supply, as numerous developers are awaiting clarification on this ++ change in volume of act ive list ings
matter. Nevertheless, the introduction of proposals for compact development and transit-oriented corridors by +++ change in t he average rat e of Under-
Const ruct ion (UC) and Ready-to-move (RM)
additional FSI provisions; and well-planned development of several satellite towns across the city, is anticipated to properties
boost supply in the upcoming quarter, hence bringing about a phase of consolidation in the market. S ource: M agicbricks Research
Key Developers based on

RM Rate Change
active listings
6,500
Developer
6,000
Godrej Properties
5,500
Average Rate (INR psf)
Shaligram Group
5,000
Adani Realty
" RM segment
4,500 Goyal & Co.
recorded QoQ price
4,000 Swati Procon
growth of 2.1%."
Gala Group
3,500
Shilp Group
3,000 Goyal & Co and HN Safal
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Ganesh Housing Corporation Ltd.
Ready to Move
Sun Builders Pvt. Ltd.
Note: The above table represents the top
UC Rate Change developers by share of active listings on
Magicbricks website in Q3 2023.
5,500 Key Projects and Localities
Project Locality
5,000
Shaligram Prime South Bopal

4,500
" UC segment Sun South Rayz South Bopal
4,000 witnessed a QoQ Vrindavan Godrej

Garden City SG Highway
average rate decline
Swati Residency 5 Chandkheda
3,500 of 1.6%."
Orchid Legacy SP Ring Road
3,000
Savvy Swaraj Gota
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Olive Greens Gota
Under Construction Malhaar Exotica SP Ring Road
Aaryan Gloria South Bopal
Notes: Adani The Meadows Vaishnodevi Circle
1. RM rate index represents the weighted average rate of completed properties on the Magicbricks website as of Sept 2023. Note: Above table gives the projects which buyers searched
2. UC rate index represents the weighted average rate of under-construction properties on the Magicbricks website as of Sept 2023. for the most on Magicbricks website in Q3 2023.
3. The graph represents the average rate of the dominant asset class in each locality of the city. Source: Magicbricks Research
RM vs UC QoQ Change In the

News
35.00% 1. The Ahmedabad Municipal
Corporation (AMC) recommended
30.00% that Sanand, Kalol, Dehgam, Bareja
25.00%
QoQ change in rates
" RM segment and Mehemdabad be developed as

well-planned satellite towns of
20.00% recorded a QoQ dip Ahmedabad.
15.00% of 2% in supply and 2. To manage future growth of
10.00% UC segment Ahmedabad city and to organize
5.00% development in growth centres within
witnessed 29% AUDA limits, the Ahmedabad Municipal
0.00%
RM UC increase in demand" Corporation (AMC) has proposed to
-5.00% encourage compact development in
central areas and transit corridors in
Demand Supply the city by providing additional Floor
Note: Space Index (FSI).
1. Above table represents the rate changes for RM and UC properties for dominant asset classes in each locality under various rate buckets (INR psf) as of Sept 2023.
© m agicbricks .com P age 7

Demand-Supply Analysis Ahmedabad | Jul-Sept 2023
SG Highway and Bopal 2 & 3 BHKs continue to rule the roost

continued to remain the Demand by BHK Supply by BHK
realty hotspot 4% 5%
10% 1 BHK
Considering both demand and supply, Bopal 17% 1 BHK
and SG Highway continue their dominance as 38 2 BHK
% 29% 2 BHK
Ahmedabad’s top micro-markets. Excellent 3 BHK 3 BHK
infrastructure, good connectivity, and Above 3BHK
48 Above 3BHK 49%
increasing business and economic activities
%
along this corridor have improved the
prospects of these localities besides
generating large employment opportunities.
Overall, most of the demand in Ahmedabad is Highest demand and supply for properties priced between INR 4,000-
concentrated in the western and northern 6,000 psf
micro-markets such as Satellite, Chandkheda-
Motera, Prahlad Nagar, etc., as majority of Demand by Rates Supply by Rates
the commercial and residential developments
are concentrated here.
24% 27%
21% <4,000 25% <4,000
"3 BHK units and units 4,000-6,000 4,000-6,000
costing between INR 55% >6,000 >6,000
4,000-6,000 psf were 49%
the most searched

criteria in the city."
Residences ranging from 1,500 to 2,000 sf witnessed highest traction
2 BHK units also have a significant share of
38% in demand and 29% in supply.
Demand by Rates Supply by Rates
In terms of cover area, both homebuyers and 7% 3% 7% 5%
developers are inclined towards medium
14% Below 1,000 Below 1000
sized homes (1,000 – 2,000 sf), accounting 28% 14%
1,000-1,500 22% 1,000-1,500
for 76% demand and 66% supply.
1500-2000 1500-2000
2000-2500 2000-2500
Above 2,500 Above 2,500
48% 44%
BHK wise Average Price Change

12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
QoQ YoY
Looking at the quarterly changes, all housing configurations demonstrated growth except for 1 BHK units, which experienced a 2.6% decline.
Conversely, homes with more than 3 bedrooms (3+ BHKs) saw the highest quarterly growth of 1.5%, suggesting a preference among homebuyers for
larger residences. Similarly, on an annual basis, all housing configurations exhibited positive changes, with 1 BHK units recording the highest year-
over-year increase of 9.7%.

Rate Analysis Ahmedabad | Jul-Sept 2023
QoQ Change In Average Rate

6,000
5,800
5,600
Rate (INR psf)
5,400
5,200
5,000
4,800
4,600
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
After remaining relatively stable from Q3 2021 to Q1 2022, there was a sudden surge in average rates of 7.1% during Q2
2022, primarily attributed to the initiation of Ahmedabad Metro Phase 1. Subsequently, rates have been experiencing
gradual increases due to significant demand within the city resulting in an overall 14.89% increase in the last two years.
Average rates BHK-wise
3,900 4,400 5,300 7,400
On average, homes in Ahmedabad are offered at prices ranging from INR 3,900 per square foot to INR 7,400 per square foot,
covering various configurations as mentioned above.
Micro-Marketwise Rate Change for preferred localities
16.00%
14.00%
12.00%
10.00%
8.00%
QoQ change in rates
6.00%
4.00%
2.00%
0.00%
Narol Naroda Road
C G Road
SG Highway
Satellite
Chandkheda-Motera
Bopal
Paldi-Ambadi
Prahlad Nagar
-2.00%
-4.00%
QoQ Change YoY Change

Among the top 8 preferred neighborhoods, Satellite was the only locality that experienced a slight decrease of approximately 1.4% in its quarter-
over-quarter rates, whereas all the other areas remained stable or saw an increase in property prices. The highest QoQ increase in average rates
occurred in SG Highway (3.64%), closely followed by Prahlad Nagar (3.57%) due to the prominent commercial hubs located in these areas.
Looking at the annual data, all the neighborhoods exhibited a positive trend, indicating an overall positive outlook.

Micro-Market Statistics Ahmedabad | Jul-Sept 2023
Top Micro-markets in the City
Chandkheda-Motera
y
ghwa
SG Hi
g Rd
Bopal
Rin
Satellite CG Rd Narol- Naroda Rd

ft.
13 2
Prahlad Nagar
Paldi Ambawadi
r Ah
R ive me
ati da
ar m ba
b d -V
Sa ad
o da
ra
E xp
g Rd res
ar Patel Rin sw
ay
Sard
Note: This map is not to scale.
Inference
In general, the western and northern areas of Ahmedabad are increasingly appealing to homebuyers because of their excellent
connectivity to various employment centers and improved social and retail infrastructure. This is clearly demonstrated by the
fact that during both Q2 2023 and Q3 2023; Bopal, SG Highway, and Satellite emerged as the most favored neighborhoods in
the city.
Note: Map above represents the top preferred micro-markets in the city in Q3 2023. Source: Magicbricks
Research
Micro-markets with highest Demand Micro-markets with highest Supply
Micro-market Avg. Rate Rank Q3-23 Rank Q2-23 Micro-market Avg. Rate Rank Q3-23 Rank Q2-23
1 1
Bopal 4,900 Bopal 4,900 1 1
2 2
SG Highway 5,700 SG Highway 5,700 2 2
3 3
Satellite 6,900 Narol Naroda Road 4,400 3 3
4 4
Chandkheda-Motera 4,500 Chandkheda-Motera 4,500 4 4
5 5
Prahlad Nagar 5,800 Satellite 6,900 5 5
6 6
Narol Naroda Road 4,400 Prahlad Nagar 5,800 6 6
7 7
Paldi-Ambadi 6,500 Paldi-Ambadi 6,500 7 7
8 8
C G Road 6,600 C G Road 6,600 8 8
Notes: Notes:
1. Top micro-markets ranked by number of searches on Magicbricks in Q3 2023. 1. Top micro-markets ranked by their active listings on Magicbricks in Q3 2023.
2. Average rate in the micro-market in INR psf. 2.Average rate in the micro-market in INR psf.

PropIndex | Magicbricks Bengaluru
JUL-SEPT 2023
Residential Market Insights Market Dynamics
Bengaluru records substantial growth in housing demand by 13.5% QoQ Parameters India Bengaluru
In the third quarter of 2023, the residential market in Bengaluru saw a modest uptick in demand and average property Demand+ 8.4% 13.5%
rates, while the supply of available listings declined. Demand, measured by searches, increased by 13.5% quarter-on- Supply++ -7.2% -9.3%
quarter (QoQ), whereas the supply of active listings decreased by 9.3% QoQ. Average property rates also experienced Rate Index+++ 5.4% 3.8%
a growth of 3.8% during this period. Notes:
Above parameters represent QoQ change in Q3 2023 at
Post-pandemic, Bengaluru witnessed a large section of the non-local work force resuming work from office. This factor India and cit y level
has largely contributed to a sizable 32% surge in demand YoY (second largest among the 13 cities tracked in this ++ change in volume of act ive list ings
report). +++ change in t he average rat e of Under-
properties
S ource: M agicbricks Research

RM Rate Change
active listings
9,000
8,500 Developer
8,000
7,500 Prestige Estates Projects Ltd.
7,000 SOBHA Ltd.

6,500
Godrej Properties
6,000
" RM segment Bhartiya City Developers Pvt. Ltd.
5,500
5,000
recorded QoQ price Mantri Developers Pvt. Ltd.
4,500 hike of 4.8%." Puravankara Ltd.
4,000
Brigade Enterprises Ltd.
3,500
3,000 Assetz Property Group
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Total Environment Building Systems
Ready to Move
Pvt. Ltd.
Century Real Estate

8,000
Project Locality
7,500
7,000 Thanisandra Main
Nikoo Homes IV Road

6,500
6,000 " UC segment Prestige Falcon City Kanakapura Road
5,500
witnessed a QoQ Godrej Ananda Bagalur
5,000
4,500
average rate growth Mantri Serenity Kanakapura Road
Thanisandra Main
4,000 of 1.8%." Purva Atmosphere Road
3,500
Sobha HRC Pristine Jakkur
3,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Sobha Dream Gardens Thanisandra
Under Construction Prestige Jindal City Tumkur Road
Elita Promenade Phase 7 JP Nagar
Notes: Regency La Majada Hennur Main Road


News
1. The 16-member committee led by
0.00%
RM UC deputy speaker Rudrappa Manappa
Lamani made the concession after BDA
-5.00% commissioner and his team that they
QoQ change in rates
" Both RM and UC

can provide seamless connectivity of
-10.00% segments recorded a underground drainage and drinking
water connection only if all land
dip in QoQ demand
-15.00% acquisition cases pending before the
and supply" high court are settled.
-20.00%
2. Bengaluru civic body takes action
against builders for putting up
-25.00% unauthorised hoardings. BBMP officials
filed 90 complaints and 86 FIRs in KR
Demand Supply
Puram and Mahadevapura region
during the drive from August 1.
Note:

Demand-Supply Analysis Bengaluru | Jul-Sept 2023
East Bengaluru remains the 3 BHKs units dominate the residential market
favored destination for Demand by BHK Supply by BHK
homebuyers, with a sustained
reputation as the top choice. 2% 3%
15% 32% 1 BHK 11%
1 BHK
In the third quarter of 2023, Whitefield emerged 2 BHK 2 BHK
as the leader in both demand and supply. 3 BHK
3 BHK 44 42
Supported by factors such as affordability, Above 3BHK
% %
connectivity, and ongoing infrastructure Above 3BHK
enhancements, areas like Bellary Road, 51%
Kanakapura Road, Bannerghatta Main Road, and
Electronic City maintain their prominence in the
residential real estate sector. Notably,
Thanisandra has risen in consumer searches,
rising to the second spot in the micro market Premium segment (>INR 7,500 psf) properties gained highest traction
rankings compared to sixth spot in the previous
quarter.
"The residential market in Bengaluru is
predominantly led by 3 BHK units with
sizes ranging from 1,500 to 2,000 square 13% 19%
feet, and prices exceeding INR 7,500 per <5,000 <5,000
square foot”
5,000-7,500 5,000-7,500
Post the pandemic, home buyers in the city are 36% 41% 40%
now looking for spacious homes to >7,500 >7,500
accommodate work-from-home or study-related 51%
needs. 3 BHKs have gained the highest traction
with 51% share, followed by 2 BHKs with 32%
share. However, the supply for both
configurations is almost at par (44% for 3 BHKs
and 42% for 2 BHKs). Consequently, premium
Homes ranging between 1,500 and 2,000 sf observed maximum
(>INR 7,500 psf) and mid-segment properties
(INR 5,000–7,500 psf) emerged as preferred demand and supply
choices for homebuyers and developers,
accounting for a 51% and 36% share of the
4%
total demand, respectively. This was backed
8% 2% 6%
against a share of 41% and 40% of supply for
the respective segments. Demand for the Below 1,000 14% Below 1000
26%
affordable segment (<INR 5,000 psf) has 19% 1,000-1,500 1,000-1,500
decreased by 5% and supply has reduced by 36%
1500-2000 1500-2000
2% in Q3 2023. In terms of cover area,
2000-2500 2000-2500
properties with sizes between 1,500 and 2,000
sf witnessed highest demand (45%) and supply Above 2,500 Above 2,500
40%
(40%) shares.
45%

14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
QoQ YoY
Looking at the quarterly changes, all housing configurations demonstrated positive trends. Overall, 2 and 3 BHKs saw quarterly growth of 3.8% and
3.9%, respectively. Similarly, on an annual basis, all housing configurations exhibited positive changes, with 3 BHK units recording the highest year-
over-year increase of 12.6% followed by 2 BHKs (9.3%) and 1 BHKs (9.1%).

Rate Analysis Bengaluru | Jul-Sept 2023

10,000
9,000
Rate (INR psf)
8,000
7,000
6,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average rate of residential properties in Bengaluru has increased by 19.66% in the last two years. One can see that
QoQ trend has been upwards all through since last two years with it increasing by a further 3.8% in Q3 2023.
7,200 6,700 8,700 10,200
On average, homes in Bengaluru are offered at prices ranging from INR 6,700 per square foot to INR 10,200 per square foot,
25.00%
20.00%
15.00%
10.00%
QoQ change in rates
5.00%
0.00%
Sarjapur Road
Kanakapura Road
Bannerghatta Main Road

Whitefield
Bellary Road
Electronic City
Thanisandra
JP Nagar
-5.00%

Among the top 8 preferred neighborhoods, Electronic City was the only locality that experienced a slight decrease of
approximately 2.0% in its quarter-over-quarter rates, whereas all the other areas saw an increase in property prices. The
highest QoQ increase in average rates occurred in Thanisandra (11.4%), closely followed by Whitefield (9.86%). At the same
time the YoY increase in these localities was 20% each. For all the other neighborhoods as well, the annual performance
depicted a positive picture.

Micro-Market Statistics Bengaluru | Jul-Sept 2023
Pun
e-B
y Rd
eng
alu
ru
Bellar
Rd d
d ras R
a
Mangaluru – Bengaluru Rd Thanisandra O ld M
ORR
NICE Ring Rd
Whitefield
Sar
jap
ur R
JP Nagar d
Electronic City
a Rd
Banneghatta Main Rd
Rd H os
pur
ore ur R
s d
My
aka
Kan
Inference
In general, the eastern and northern neighborhoods of Bengaluru are increasingly appealing to homebuyers because of their
excellent connectivity to various IT Parks along the ORR and other major technology parks across several areas of the city,
along with the presence of a robust social and commercial infrastructure. This is clearly demonstrated and justified by the fact
that since the last 2 quarters the same micro markets (including Whitefield, Sarjapur Road, Thanisandra, etc.) keep emerging as
the most preferred in Bengaluru.
Research
Whitefield 7,800 1 2 Whitefield 7,800 1 1
Thanisandra 7,800 2 6 Sarjapur Road 7,300 2 2
Sarjapur Road 7,300 3 3 Bellary Road 7,900 3 3

Bannerghatta Main
Bellary Road 7,900 4 1 Road 6,800 4 5
Kanakapura Road 7,500 5 4 Kanakapura Road 7,500 5 4
Electronic City 4,900 6 5 Electronic City 4,900 6 6

Bannerghatta Main
Road 6,800 7 8 Thanisandra 7,800 7 7
JP Nagar 8,400 8 7 JP Nagar 8,400 8 8

Notes: Notes:

PropIndex | Magicbricks Chennai
JUL-SEPT 2023

Demand for housing in Chennai surged by 9.5% QoQ Parameters India Chennai
During Q3 2023, the residential market in Chennai experienced a demand surge of 9.5% QoQ, as indicated by the Demand+ 8.4% 9.5%
number of searches. However, there was a significant QoQ decrease of 12% in the aggregate supply of residential Supply++ -7.2% -12.0%
listings. Prices have increased by 1.9% QoQ. Rate Index+++ 5.4% 1.9%
Notes:
The growing employment prospects in Chennai, spanning both the industrial and IT sectors, have led to increased Above parameters represent QoQ change in Q3 2023 at
demand from migrants relocating to the city. However, the supply side is grappling to match this demand, resulting in India and cit y level
appreciating average property rates. A key factor contributing to the supply shortage is the delay in project possession ++ change in volume of act ive list ings
and completion. +++ change in t he average rat e of Under-
properties

RM Rate Change
active listings
8,500
8,000 Developer
7,500
Jain Housing & Constructions Ltd.
7,000
6,500 TVS Emerald

6,000 Bhaggyam Constructions
5,500 " RM segment Alliance Group
5,000 recorded QoQ price Navin Housing & Properties Pvt. Ltd.
4,500 growth of 1.0%." Nest Builders
4,000
3,500
Vaanam Constructions
3,000 Urbanrise
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Casagrand Builder Pvt. Ltd.
Ready to Move
Incor Infrastructure Pvt. Ltd.

7,500
Project Locality
7,000
6,500 My Home Nakshatra Perumbakkam

6,000
" UC segment TVS Emerald Elements Kovilambakkam
5,500
recorded QoQ price Bhaggyam Athulya Sholinganallur
5,000
growth of 3.8%." Navins Hillview Avenue Thirumudivakkam
4,500
4,000 Alliance Orchid Springss Korattur
3,500
Summer Garden Saligramam
3,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Jains Pebble Brook Thoraipakkam
Under Construction PBEL City Kelambakkam
Old Mahabalipuram
Bollineni ZION Road Chennai
Notes: Jains Inseli Park Siruseri

News
1. In an effort to ensure seamless clearance
0.00% of proposals for high rise buildings in areas
RM UC
where an NOC from the Airports Authority of
-5.00% India is required, the Chennai Metropolitan
QoQ change in rates
Development Authority will integrate its

-10.00% " Both RM and UC online plan permission software with that of
the AAI.
-15.00% segment recorded a 2. Tamil Nadu government has done away
with the three-year-old practice of separate
QoQ dip in supply." registration of undivided share (UDS) of land
-20.00% and construction agreement. From now on,
in cases of completed constructions, there
-25.00% shall be only one combined sale deed,
entailing a stamp duty and flat registration
-30.00% fee of 9%. This means a buyer will end up
paying about 50% more towards registration
Demand Supply charges.
Note:

Demand-Supply Analysis Chennai | Jul-Sept 2023
OMR and Porur maintain 2 BHKs come up to be the most preferred segment
their dominance in terms Demand by BHK Supply by BHK
of both demand and 4% 8% 6%

9% 1 BHK
supply share. 2 BHK
36
%
1 BHK
2 BHK
3 BHK 3 BHK
42
% 45 Above 3BHK
Considering both demand and supply, % Above 3BHK
OMR and Porur continue their dominance 49

as Chennai’s top micro-markets owing to %
presence of upcoming commercial and
retail infrastructure.
Highest demand and supply for properties priced between INR 5,000-
Overall, most of the demand in Chennai is 10,000 psf
concentrated towards the coastal areas Demand by Rates Supply by Rates
marked by IT corridors such as the OMR
(Old Mahabalipuram Road) & ECR (East
Coast Road), as homebuyers prefer to 16% 14%
25% <5,000
stay closer to their workplace and cut 18% <5,000
short on the commute time. 5,000-
5,000-10,000 10,000
>10,000 61% >10,000
“A majority of prospective 66%
customers in Chennai searched
for 2 BHK Units within the
price range of Rs 5000 – Rs
1000 per sq ft.” Residences with cover area ranging from 1,000 to 1,500 sf witnessed
highest traction
-3 BHK units also have a significant share
of 42% in demand and 36% in supply.
4% 2%
9% 9% 9% 12%
-In terms of apartment sizes, both Below 1,000 Below 1000
homebuyers and developers are inclined 1,000-1,500 1,000-1,500
towards units with cover area ranging 1500-2000 28% 1500-2000
from 1,000 – 1,500 sf, accounting for 34% 44% 2000-2500 2000-2500
44% demand and 49% supply. Above 2,500 49% Above 2,500

6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
-6.00%
-8.00%
QoQ YoY
Looking at the quarterly changes, while 2 BHKs and above housing configurations demonstrated a positive QoQ trend, 1 BHKs witnessed a decline.
This underlines the fact that homebuyers in Chennai do not prefer compact units. There are 2 reasons for this, the loading is comparatively higher in
a smaller unit and the difference in 1 & 2 BHKs are not much as compared to the difference in the carpet area, hence people opt for bigger units.

Rate Analysis Chennai | Jul-Sept 2023

10,000
9,000
Rate (INR psf)
8,000
7,000
6,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
While the growth in demand has been stable over the last 2-3 quarters, it has been accompanied by a price growth of
1.93% QoQ. The increase in price post COVID-19 in a calibrated manner is an encouraging sign and can be viewed as an
indicator that the market is on its way to recovery.
5,600 6,400 8,200 9,800
On average, residences in Chennai are offered at prices ranging from INR 5,600 psf to INR 9,800 psf, covering various configurations as mentioned
above. While 1 BHKs fare INR 5,600 psf on an average on the cover area, luxury segments such as above 3 BHKs can go up to an average rate of
INR 9,800 psf.
10.00%
8.00%
6.00%
4.00%
QoQ change in rates
2.00%
0.00%
Old Mahabalipuram Road
Arcot Road
East Coast Road

Pallavaram-Thuraipakkam ...
Chromepet-Pallavaram
Central Chennai
Ambattur
Porur
-2.00%
Among the top 8 preferred neighborhoods, while all micromarkets registered a growth QoQ and YoY trend, only localities in
the Central Chennai region witnessed a dip due to unavailability of land and overcrowding, which is pushing the homebuyers
to opt out for nearby localities.

Micro-Market Statistics Chennai | Jul-Sept 2023
Ambattur
Arcot Rd
Porur
Central Chennai
BAY OF BENGAL
Pallavaram-
Chromepet- Thuraipakkam Rd
Pallavaram
ECR
OMR
Inference
In general, the localities along the coastal stretch of Chennai are increasingly appealing to homebuyers because of their
excellent connectivity with the adjacent cities, proximity to the various employment hubs, and presence of strong social and
commercial infrastructure, with a scenic view to look upon.
Research
Old Mahabalipuram Old Mahabalipuram

Road 5,800 1 1 Road 5,800 1 1
Porur 6,200 2 3 Porur 6,200 2 2

Pallavaram-
Thuraipakkam Road 6,500 3 - Ambattur 6,400 3 3
Ambattur 6,400 4 2 Medavakkam-Selaiyur 6,000 4 4
Central Chennai 13,200 5 4 Central Chennai 13,200 5 6

Perangalthur-
Arcot Road 9,300 6 - Chengalpattu 4,400 6 5
East Coast Road 10,400 7 - Velachery 7,200 7 7
Chromepet-Pallavaram 6,000 8 - Arcot Road 9,300 8 -

Notes: Notes:

PropIndex | Magicbricks Delhi
JUL-SEPT 2023

Demand for housing in Delhi surged by 7.9% QoQ Parameters India Delhi
In the third quarter of 2023, the residential market in Delhi saw a robust 7.9% quarter-on-quarter surge in demand, as Demand+ 8.4% 7.9%
evidenced by the volume of searches. Supply++ -7.2% -10.3%
Rate Index+++ 5.4% 1.8%
Nonetheless, there was a notable 10.3% quarter-on-quarter reduction in the overall supply of residential listings. Notes:
Average prices in this period witnessed a modest growth of 1.8% owing to heightened demand from homebuyers. Above parameters represent QoQ change in Q3 2023 at
India and cit y level
++ change in volume of act ive list ings
+++ change in t he average rat e of Under-
properties

RM Rate Change
active listings
16,000
Developer
Cooperative Group Housing Society

14,000 (CGHS)
Delhi Development Authority (DDA)

Delhi Development Authority DDA
12,000
" RM segment
LKS Home Making Solutions
recorded QoQ price DLF Ltd.
10,000 growth of 1.6%." East India Earth Movers
IFS Developer
8,000 Uppal Builders
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
DDA
Ready to Move
Garur Enterprises LLP

24,000
Project Locality
23,000
22,000 LKS Dream Homes Uttam Nagar

21,000 Rani Bagh Pitampura
20,000
" UC segment
DDA Flats Sarita Vihar
19,000 recorded QoQ price
DLF Capital Greens 1
18,000 growth of 0.9%." and 2 Moti Nagar
17,000
DDA Flats Munirka Munirka
16,000
DDA Flats Vasant Kunj Vasant Kunj
15,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 East End Apartments Mayur Vihar 1
Under Construction Shivlok Apartment Dwarka Sector 6
New Friends Colony
Floors New Friends Colony
Notes: Divyajyoti Apartments Rohini

News
1. Delhi Development Authority (DDA)
5.00%
has recently issued a gazette
0.00% notification approving an 8% annual
RM UC
-5.00% increase in charges for obtaining
QoQ change in rates
" Only UC segment

property rights in unauthorized
-10.00% recorded a QoQ colonies under Pradhan Mantri-
-15.00% growth in supply Unathorised Colony in Delhi Awas
Yojana (PM-Uday Scheme).
-20.00% indicating a thriving
-25.00% market for new 2. In an effort to make Delhi cleaner
-30.00% and greener, Delhi High Court has
launches." made it clear that no tree felling
-35.00% permission will be given for
construction of houses.
Demand Supply
.
Note:

Demand-Supply Analysis Delhi | Jul-Sept 2023
Dwarka & Greater 2 BHKs come up to be the most preferred segment.

Kailash remain top Demand by BHK Supply by BHK
choices for prospective 5% 5%

16% 27% 1 BHK 21%
homebuyers. 2 BHK
26% 1 BHK
2 BHK
3 BHK 3 BHK
Above 3BHK
Considering both demand and supply, Above 3BHK 49%
Dwarka and Greater Kailash (GK) sustain 53%
their leadership positions as Delhi's foremost
micro-markets. This is attributed to their
robust commercial infrastructure, excellent
connectivity to mass transit networks, and a
diverse range of housing choices.
20,000 psf
In general, the majority of demand in Delhi is Demand by Rates Supply by Rates
concentrated in the southern and western
regions. This preference is driven by their
proximity to the airport and convenient 12% 17%
access to major employment hubs located in <10,000 <10,000
nearby satellite cities like Gurugram and
43% 10,000-20,000 43% 10,000-20,000
Noida, which are renowned as IT-centric 45%
centers that cater to the needs of Delhi. 40% >20,000
>20,000
"3 BHK units costing between INR

10,000-20,000 psf on cover area
dominate consumer preferences"
Residences with cover area ranging from 1,500 to 2,000 sf witnessed
highest traction
In terms of apartment sizes, both 3% 4%
homebuyers and developers are inclined 19% 17%
16% Below 1,000 19% Below 1000
towards units with cover area ranging from
1,500 – 2,000 sf, accounting for 35% for 1,000-1,500 1,000-1,500
both demand and supply share. 1500-2000 1500-2000
2000-2500 26% 2000-2500
27%
35% Above 2,500 Above 2,500
35%

10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
QoQ YoY
Looking at the quarterly changes, while 3 BHKs and above housing configurations demonstrated a positive QoQ trend, 1 & 2 BHKs witnessed a
decline. This underlines the fact that homebuyers in Delhi do not prefer smaller units and usually go for bigger houses due to better deals in loading
and higher ROIs.

Rate Analysis Delhi | Jul-Sept 2023

16,000
15,000
14,000
Rate (INR psf)
13,000
12,000
11,000
10,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average rate in Delhi grew by 2% on an average over the last eight quarters after declining by 1.3% in Q3 2022.
However, since then the city has seen a gradual increase in the average rates with a compounded growth rate of 13.77%.
After a decline in the last quarter, the average rate increase for this quarter was 1.8%.
7,100 9,400 14,800 20,100
On average, residences in Delhi are offered at prices ranging from INR 7,000 psf to INR 20,000 psf, covering various
configurations as mentioned above. While 1 BHKs fare INR 7,100 psf on an average on the cover area, luxury segments such
as above 3 BHKs can go up to an average rate of INR 20,100 psf..
35.00%
30.00%
25.00%
20.00%
15.00%
QoQ change in rates
10.00%
5.00%
0.00%
Greater Kailash
Laxmi Nagar-Patparganj
Janakpuri
Dwarka
Rohini
Uttam Nagar
Mayur Vihar
Kirti Nagar
-5.00%
Among the top 8 preferred neighborhoods, Barring Uttam Nagar, all micromarkets registered a positive growth for YoY
trends. For the QoQ trend, only Laxmi Nagar registered a dip in average rates due to poor last mile connectivity with the
metro, which is usually a deciding factor for the homebuyers.

Micro-Market Statistics Delhi | Jul-Sept 2023
y
xp
lE
ra
he
rip
Pe
nr
te
GT Ka
es
W
r
nal R
ORR
d
Rohini
Janakpuri Kirti Nagar Laxmi Nagar
Uttam Nagar Mayur Vihar

MG
Rd
Dwarka
NOIDA
Greater Kailash Da
dr
iM
py
ain
Ex
Mathura Rd
Rd
ka
ar
Dw
GURUGRAM
Inference
In general, most of the demand in Delhi is concentrated towards the southern and western regions, due to proximity to the
airport, and better access to employment hubs in nearby satellite cities such as Gurugram and NOIDA, which are essentially the
employment hubs around Delhi. Localities along the Delhi Metro route have comparatively performed better over the last 2-3
quarters.
Research
Dwarka 8,800 1 1 Dwarka 8,800 1 1
Greater Kailash 21,000 2 2 Greater Kailash 21,000 2 2
Laxmi Nagar-Patparganj 14,000 3 4 Laxmi Nagar-Patparganj 14,000 3 4
Uttam Nagar 4,900 4 3 Rohini 11,300 4 3
Rohini 11,300 5 7 Uttam Nagar 4,900 5 5
Mayur Vihar 10,000 6 5 Janakpuri 12,000 6 7
Janakpuri 12,000 7 6 Green Park 24,600 7 6
Kirti Nagar 15,400 8 - Mayur Vihar 10,000 8 8

Notes: Notes:

PropIndex | Magicbricks Gr. Noida
JUL-SEPT 2023
Greater Noida has outperformed other cities, with demand increasing by 38.9% QoQ Parameters India Gr. Noida
During Q3 2023, the residential market in Greater Noida experienced a demand surge of 38.9% QoQ and 39.6% YoY, Demand+ 8.4% 38.9%
which is the highest among the top 13 cities. However, there was a marginal QoQ drop of 6.7% in the aggregate supply Supply++ -7.2% -6.7%
of residential listings due to a lot of projects not being cleared by the authorities such as UPRERA & GNIDA. Owing to Rate Index+++ 5.4% 5.3%
the increasing demand trends, the average prices during this period observed a significant growth of 5.3%, and a huge Notes:
jump of 27.2% YoY, which is one of the highest among the top 13 Tier 1 cities. Above parameters represent QoQ change in Q3 2023 at
Greater Noida housing some of the key employment hubs, and with ever developing affordable housing options, is ++ change in volume of act ive list ings
proving to be one of the most preferred satellite cities for Delhi. Even people whose work place are in Delhi, are +++ change in t he average rat e of Under-
preferring this city for its ease of connectivity and affordability. properties

RM Rate Change
active listings
5,500
Developer
Ambesten Homes Pvt Ltd

5,000
Radhey Krishna Buildwell pvt ltd
Parsvnath Developers Ltd.
" RM segment AMBR Construction Pvt Ltd
4,500
recorded QoQ price Vihaan Group
growth of 3.7%." Saraswati Infra Homes Pvt. Ltd.
Migsun Group
CRC Group
4,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Dev Sai Construction Pvt. Ltd.
Ready to Move
Amrapali Group

Project Locality
5,500
Twin Celestial Greater Noida West

Krishna Orchid Villas Greater Noida West
5,000
" UC segment
Ambrosia Luxury Homes Greater Noida West
witnessed a QoQ
Parsvnath Platinum
price growth of Floors Swarnnagari
4,500
9.0%." Saraswati Smart Homes Greater Noida West
CRC Sublimis Greater Noida West
4,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Devsai Sportshome Greater Noida West
Under Construction Vihaan Vista Greater Noida West
Amrapali La Residential Tech Zone

Notes: Migsun Twiinz Eta 2

News
1. Over 5,000 flats that were delayed for
100.00% various reasons in Noida and Greater
Noida, will be delivered this festive
80.00% season as the authority has cleared the
QoQ change in rates
" While both RM & issues related to them. According to

60.00% CREDAI Western UP, after paying the
UC segments fared dues to the GNIDA, these projects or
their phases have received OC
40.00% well in the demand (Occupancy Certificate) from the
20.00% share, the QoQ concerned development authority.
supply were hit by 2. The Greater Noida Authority has launched

0.00% an OTS scheme for allottees of multistorey
RM UC significant decline." buildings to clear dues. The scheme will
-20.00% benefit over 2,200 homebuyers who have not
executed lease deeds, with the GNIDA likely
Demand Supply to collect Rs 468 crore in dues and
premiums.
Note:

Demand-Supply Analysis Greater Noida | Jul-Sept 2023
Greater Noida West 3 BHKs come up to be the most preferred segment

continues to reign Demand by BHK Supply by BHK
supremacy over past 3 1% 12% 4%

30% 1 BHK
quarters. 22%
2 BHK
1 BHK
38 2 BHK
3 BHK % 3 BHK
46 Above 3BHK
Considering both demand and supply share, Above 3BHK %
Greater Noida West remained unshakable as 47%
Greater Noida’s top micro-market owing to a
robust commercial and retail infrastructure
coupled with its strategic locational advantage,
which places it right between Noida & Greater
Noida, and with an enhanced last mile Highest demand and supply for properties priced less than INR 5,000
connectivity with the blue and aqua line metro. psf
Overall, most of the demand in Greater Noida is
concentrated towards the West side, which also
4%
marks the eastern region for Noida, making it 12%
the perfect central location for both these cities. 22%
<5,000 <5,000
36%
5,000-7,500 7,500-10,000
"3 BHK units costing less than 74%
>10,000
Rs. 5000 psf on cover area >7,500 52%
dominate consumer
preferences."
2 BHKs come up to be the most preferred

segment after 3 BHKs, having a significant Residences with cover area ranging from 1,500 to 2,000 sf witnessed
share of 30% demand and 38% supply.
highest traction
In terms of apartment sizes, both homebuyers
5%
and developers are inclined towards units with 2% 3%
2%
cover area ranging from 1,500 – 2,000 sf, 12%
accounting for 48% demand and 45% of supply 20% Below 1,000 Below 1000
29%
share. 1,000-1,500 1,000-1,500
1500-2000
36% 1500-2000
2000-2500 2000-2500
Above 2,500 44% Above 2,500
47%

45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
QoQ YoY
Looking at the quarterly changes, every configuration witnessed a hike in QoQ as well as YoY demand, highlighting the demand for all kinds of
configurations across the city.

Rate Analysis Greater Noida | Jul-Sept
2023
6,000
5,500
5,000
Rate (INR psf)
4,500
4,000
3,500
3,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average rate in Greater Noida grew by 4% on average over the last eight quarters with no declining trend over the last
2 years. Among all the quarters in the past 2 years, the highest jump of about 11.9% QoQ was seen in the beginning of this
year (Q1 ‘23). This quarter witnessed a QoQ increase of 5.3%, and the average rates also flourished with a significant
compounded growth rate of over 37%.
5,500 5,200 5,300 6,600
On average, residential properties in Greater Noida are available within the price range of INR 5,000 per square foot to INR 7,000 per square foot,
encompassing various configurations as mentioned earlier. Specifically, the average price per square foot for 1 BHK unit stands at INR 5,500. In contrast,
average prices for larger and more spacious units are Rs. 6,600 per square foot. Interestingly, 2 and 3 BHK units are priced at a lower per square foot rate
compared to 1 BHK units in this area.
50.00%
40.00%
30.00%
20.00%
QoQ change in rates
10.00%
0.00%
Omnicron-Mu-Xu
Greater Noida West
Omega-Chi-Phi
Alpha-Beta-Gamma-Delta
Pi-Rho-Sigma
Zeta-Eta-Theta
-10.00%
Among the six most favored neighborhoods, all micro-markets experienced substantial growth in both quarter-on-quarter
(QoQ) and year-on-year (YoY) trends. This growth can be attributed to the expanding housing choices and a range of
employment opportunities. However, only localities within the Alpha-Beta-Gamma-Delta micro-market recorded a QoQ
decline. This decline was a consequence of project possession delays, which are keeping prospective homebuyers at bay.

Micro-Market Statistics Greater Noida | Jul-Sept
2023
Greater Noida West
Eas
ter
Gr.
Pen
No
rip
ida
he
(W
ral
)Lin
Ex
No
py
k
i da
-G
Rd
r. N
oi d Zeta-Eta-Theta
aE
xp
y Gr
an
d Tr
Alpha-Beta-Gama-Delta u nk
Omnicron-Mu-Xu Rd
Pi-Ro-Sigma
Omega-Chi-Phi
Bu
lan
dsh
ah
r Rd
Yam
una

E xp
y
Inference
Greater Noida West is the top performing micro market of Greater Noida. The connectivity with major employment hubs and
key cities of NCR make it the perfect location for both end users and investors. Greater Noida West will also benefit other
peripheral areas of Greater Noida and propel real estate development in Sectors 122, 123, 4, 2, Sector 12 Ecotech, Greater
Noida Sectors 10, 12 and Greater Noida Knowledge Park.
Research
Greater Noida West 4,500 1 1 Greater Noida West 4,500 1 1
Pi-Rho-Sigma 6,000 2 3 Omega-Chi-Phi 6,300 2 2
Zeta-Eta-Theta 4,700 3 4 Zeta-Eta-Theta 4,700 3 5
Omega-Chi-Phi 6,300 4 2 Pi-Rho-Sigma 6,000 4 4
Omnicron-Mu-Xu 5,900 5 5 Omnicron-Mu-Xu 5,900 5 3

Alpha-Beta-Gamma- Alpha-Beta-Gamma-
Delta 7,300 6 6 Delta 7,300 6 6
Notes: Notes:

PropIndex | Magicbricks Gurugram
JUL-SEPT 2023
Demand for housing in Gurugram increased by 8.2% QoQ Parameters India Gurugram
During Q3 2023, the residential market in Gurugram experienced a demand surge of 8.2% QoQ, as indicated by the number Demand+ 8.4% 8.2%
of searches. Further, Gurugram is the only city with a QoQ increase of 1.2% in the aggregate supply of residential listings. The Supply++ -7.2% 1.2%
average prices during this period observed a significant growth of 13.8%, which is the highest among the top 13 Tier 1 cities. Rate Index+++ 5.4% 13.8%
Gurugram's adoption of high-rise living is appealing to both first-generation and second-generation homebuyers seeking an
Notes:
elevated lifestyle, a trend that has gained momentum since the onset of the pandemic. Efforts to improve connectivity Above parameters represent QoQ change in Q3 2023 at
between Gurugram's central districts and its expanding periphery are ongoing to facilitate the thriving real estate market. India and cit y level
The Gurugram Metropolitan Development Authority (GMDA) has issued invitations for bids for the construction and + change in volume of propert y searches
enhancement of the Southern Peripheral Road (SPR). This forthcoming infrastructure upgrade will be implemented along the +++ change in t he average rat e of Under-
Golf Course Extension Road and the present Southern Peripheral Road from Vatika Chowk to Kherki Daula and ease Const ruct ion (UC) and Ready-to-move (RM)
properties
congestion in 25 sectors along this stretch, which will benefit the residential projects over the long haul.

RM Rate Change
active listings
12,000
Developer
11,000
DLF Ltd.
10,000 M3M India Pvt. Ltd.

Emaar India
9,000
" RM segment Cooperative Group Housing Society
(CGHS)
8,000
recorded QoQ price Godrej Properties
growth of 13.7%." TATA Housing Development Company
7,000 Ltd.
BPTP Ltd.
6,000 Unitech Group
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Ready to Move
SS Group
Anant Raj Limited

11,000 Emaar Digi Homes Sector 62
BPTP Terra Sector 37D

10,000
Anant Raj Estate Sector 63A
9,000
" UC segment
Sobha City Sector 108
recorded QoQ price Sohna Gurgaon
8,000 growth of 12.7%." Malibu Town Road
7,000
M3M Skywalk Sector 74
Luxury Floors Gurgaon DLF City Phase 4
6,000 DLF Park Place Sector 54
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Shapoorji Pallonji
Under Construction Joyville Sector 102
Mayfield Garden Sector 51

Notes: Emaar Digi Homes Sector 62

News
1. The department of town and
20.00%
country planning (DTCP) has
15.00% issued notices to developers in
Gurugram to submit building
QoQ change in rates
10.00% " Only UC segment

drawings of their projects to start
5.00% recorded a QoQ a structural audit process at the
earliest.
0.00%
growth in supply
RM UC highlighting an
-5.00% 2. Several RWAs in the city have
opening avenue of unanimously opposed the plan of
-10.00% allowing healthcare facilities in
demand for new residential areas and demanded that
-15.00%
launches" the recently approved change of land
use (CLU) for setting up the facility in
Demand Supply
South City 2 should be revoked.
Note:

Demand-Supply Analysis Gurugram | Jul-Sept 2023
Dwarka Expressway 3 BHKs come up to be the most preferred segment

makes a huge jump from Demand by BHK Supply by BHK
6th position in Q2 to 2nd 1% 1%

1 BHK
position in Q3 2023. 29%
16%
2 BHK 29%
18% 1 BHK
2 BHK
3 BHK 3 BHK
55% 53% Above 3BHK
Considering both demand and supply share, Above 3BHK
New Gurugram continued its dominance as
Gurugram’s top micro-market owing to a
robust commercial and retail infrastructure
coupled with better social amenities.
Overall, most of the demand in Gurugram is
10,000 psf
concentrated towards the New Gurugram,
Dwarka Expressway, Gold Course Extension Demand by Rates Supply by Rates
and Sohna Road areas, due to their strategic
placement from the arterial roads and 5% 4%
employment hubs. Moreover, a plethora of
interesting housing options, from villaments <5,000 <5,000
to builder floors coming up in those areas for
46% 5,000-10,000 46% 5,000-10,000
prospective homebuyers to choose from is a 49% 50%
huge advantage. >10,000 >10,000
"3 BHK mid-segment units costing

between INR 5,000-10,000 psf on
cover area were the most searched
unit types in the city." Residences with cover area ranging from 1,500 to 2,000 sf witnessed
highest traction
-Luxury housings such as configurations
above 3 BHKs come up to be the most Demand by Rates Supply by Rates
preferred segment after 3 BHKs, having a 2%
significant share of 29% in both demand and 2% 5% 8%
15% Below 1,000 13% Below 1000
supply.
1,000-1,500 1,000-1,500
-In terms of apartment sizes, both 1500-2000 1500-2000

41%
homebuyers and developers are inclined 2000-2500 39% 2000-2500
37% 38%
towards units with cover area ranging from Above 2,500 Above 2,500
1,500 – 2,000 sf, accounting for 35% for
both demand and supply share.

40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
QoQ YoY
Looking at the quarterly changes, every configuration witnessed a hike in QoQ as well as YoY demand, specially 3 BHKs and above housing
configurations which highlights that homebuyers in Gurugram go for bigger units and opt for spacious homes.

Rate Analysis Gurugram | Jul-Sept 2023

12,000
11,000
10,000
Rate (INR psf)
9,000
8,000
7,000
6,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average rate in Gurugram grew by 4% on average over the last eight quarters with no declining trend over the last 2
years. Among all the quarters in the past 2 years, this quarter saw the highest jump of about 13.8% QoQ.
10,000 8,900 10,900 11,900
On average, residential properties in Gurugram are available within a price range of INR 9,000 per square foot to INR 12,000 per square foot, encompassing
various configurations as mentioned earlier. Specifically, the average price per square foot for 1 BHK units stands at INR 10,000. Conversely, luxury segments
such as those comprising units with more than 3 bedrooms command a higher average rate of INR 12,000 per square foot. Surprisingly, 2 BHK units are priced
at a lower rate compared to 1 BHK units in this area.
70.00%
60.00%
50.00%
40.00%
30.00%
QoQ change in rates
20.00%
10.00%
0.00%
New Gurgaon
Golf Course Extension
Sohna Road
Central Gurgaon
Golf Course Road

DLF
Dwarka Expressway
Sushant Lok 2 & 3
Residential demand increased in almost all the top micro markets of Gurugram, both QoQ and YoY. This can be attributed to
developing employment opportunities and variety of housing options in across budget segments, which is usually a deciding
factor for the homebuyers.

Micro-Market Statistics Gurugram | Jul-Sept 2023
DELHI
DLF
py
Ex
ka
ar
Dw
Golf Course Rd
d
Basai R d
Roa
d i
au Central Gurugram
Pat
Sushant Lok 2 & 3
E xt
rse
f Cou
Go l
48
New Gurugram
ay
Sohn
hw
ig
lH
a
na
Road
tio
Na
Inference
In general, most of the demand in Gurugram is concentrated towards the residential or TOD corridors, such as the Dwarka
Expressway, Gold Course Extension road and Sohna Road, due to better connectivity.
Research
New Gurgaon 7,700 1 1 New Gurgaon 7,700 1 1
Dwarka Expressway 10,100 2 6 Golf Course Extension 13,100 2 2
Golf Course Extension 13,100 3 3 Dwarka Expressway 10,100 3 3
Sohna Road 10,400 4 4 Sohna Road 10,400 4 4
Central Gurgaon 10,100 5 2 Central Gurgaon 10,100 5 5
Sushant Lok 2 & 3 8,600 6 5 DLF 12,500 6 7
DLF 12,500 7 - Sushant Lok 2 & 3 8,600 7 6
Golf Course Road 18,100 8 - Golf Course Road 18,100 8 -

Notes: Notes:

PropIndex | Magicbricks Hyderabad
JUL-SEPT
2023
Residential MarketinInsights
Demand for housing Hyderabad surged by 5.4% QoQ Market Dynamics
Parameters India Hyderabad
Residential demand for Hyderabad continues to grow despite the state facing the highest consumer price inflation in Demand+ 8.4% 5.4%
the country during the period under review. Demand increased by 5% QoQ. However, there was a significant QoQ Supply++ -7.2% -9.5%
decrease of 9.5% in the aggregate supply of residential listings. The average prices during this period increased by Rate Index+++ 5.4% 5.8%
5.8% due to persistent demand. Notes:
Above parameters represent QoQ change in Q3 2023 at
Hyderabad's increasing employment opportunities in the IT sector and developing infrastructure continue to get India and cit y level
attention from migrants, fueling a surge in demand for residential properties. But the supply struggles to keep up with ++ change in volume of act ive list ings
the persistent demand, hence the average rates have appreciated. The main reason accounting for dip in supply could +++ change in t he average rat e of Under-
be the assembly elections, skyrocketing land prices and the controversy around GO-111. properties

RM Rate Change
active listings
9,000
Developer
Aparna Constructions and Estates Pvt.

Ltd.
8,000 My Home Group

NCC Urban Infrastructure Ltd
" RM segment
My Home Constructions Pvt. Ltd.
7,000
recorded QoQ price
Sumadhura Infracon Pvt. Ltd.
growth of 7.4%."
Lodha
Prestige Estates Projects Ltd.
6,000 Trendset Builders
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
NR Infra
Ready to Move
Mahathi Infrastructures Company

NCC Urban One Narsingi
6,500
My Home Bhooja Hitech City
My Home Tarkshya Kokapet

6,000
" UC segment
Aparna Sarovar Zenith Nalagandla
recorded QoQ price Kukatpally Housing
growth of 0.7%.” Lodha Meridian Board Colony
5,500
Sumadhura Horizon Kondapur
My Home Avatar Narsingi
5,000 Prestige High Fields Gachibowli
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Under Construction Aparna Serene Park Kondapur

Trendset Jayabheri
Elevate Kondapur
Notes: NCC Urban One Narsingi

News
1. Miyapur to Gandimaisamma Six
0.00%
RM UC Lane Road Expansion to Avoid Traffic
-10.00% Issues. HMDA decided to widen the
road by 150 feet to accommodate
QoQ change in rates
" Both RM and UC

-20.00% expansion after evaluating traffic flow
segment recorded a for several days. The 15-km circuit will
-30.00% QoQ dip in supply." significantly assist the local
community, they believe.
-40.00% 2. HMDA raised Rs 713.39 crore
through an online auction of
-50.00% residential plots in Mokila village,
located near Shankarpally in the
-60.00% district of Ranga Reddy. On Tuesday,
the second phase of the auction
Demand Supply
finished, bringing in Rs 595 crore.
Note:

Demand-Supply Analysis Hyderabad | Jul-Sept 2023
Western Hyderabad 3 BHKs continues to reign supremacy

dominance based on 1% 2%
15% 1 BHK 12%
demand and supply 2 BHK
1 BHK
29% 2 BHK
share. 3 BHK
46
40 3 BHK
55% % Above 3BHK
Above 3BHK %
Considering both demand and supply,

Gachibowli and Kondapur continue their
dominance as Hyderabad’s top micro-markets
The main attractions for homebuyers in West
Hyderabad have been the vicinity to key
office hubs such as HITEC City, Financial 7,500 psf
District, Madhapur, Gachibowli,
Nanakramguda, and Kondapur, along with the Demand by Rates Supply by Rates
robust infrastructure in the area.
10%
18%
Overall, majority of the demand in Hyderabad <5,000 32%
<5,000
is concentrated in the western and northern 40%
5,000-7,500 5,000-7,500
micro-markets such as Gachibowli, Kondapur,
Miyapur, Kukatpally and Uppal, owing to >7,500 >7,500
50%
majority of the commercial and residential
developments. 50%
"3 BHK units costing between

INR 5,000-7,500 psf on cover Residences with cover area ranging from 1,500 to 2,000 sf witnessed
area were the most searched
highest traction
unit types in the city."
2%
1% 7%
29% in demand and 40% in supply. 9% Below 1,000 Below 1000
18% 19% 29%
21% 1,000-1,500 1,000-1,500
In terms of apartment sizes, both 1500-2000 1500-2000
homebuyers and developers are inclined 2000-2500 2000-2500
1,500 – 2,000 sf, accounting for 51%
51% 43%
demand and 44% supply.

25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
QoQ YoY
Looking at the quarterly changes, all housing configurations demonstrated a positive trend. Specifically, 3 BHKs saw the highest quarterly price
increase of 8.1%. Similarly, on an annual basis, all housing configurations exhibited positive changes as well, with 3 BHK units again recording the
highest year-over-year increase of 22.7%.

Rate Analysis Hyderabad | Jul-Sept 2023

8,000
7,500
7,000
Rate (INR psf)
6,500
6,000
5,500
5,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
After being largely stagnant from Q3 2021 to Q4 2021, the average rate increased by 13.7% at the end of Q2 2023. This
quarter the average rates further rose by 5.8% propelling further the thriving residential market.
6,900 6,300 7,800 9,000
On average, residences in Hyderabad are offered at prices ranging from INR 6,300 psf to INR 9,000 psf, covering various
configurations as mentioned above.
30.00%
25.00%
20.00%
15.00%
QoQ change in rates
10.00%
5.00%
0.00%
Kukatpally
Jubilee Hills-Banjara Hills

Medchal Highway
Mehdipatnam
Uppal
Gachibowli
Kondapur
Miyapur
Among the top 8 preferred neighborhoods, localities along Medchal Highway and Uppal remained stable. The highest
increase in average rates occurred in Gachibowli (16.67%), followed by Kukatpally (4.55%) due to the prominent employment
hubs and major rental options located in these areas. Looking at the annual data, all the neighborhoods exhibited a positive
trend, indicating an overall positive outlook.

Micro-Market Statistics Hyderabad | Jul-Sept 2023
Nehru OR
Old Medchal Highway R
Mum
b ai H
ighw
ay
Miyapur
Kukatpally ar Rd
h atkes
G
Kondapur
Gachibowli
Jubilee-Banjara Hills
Uppal
Osman Sagar Lake

Mehdipatnam
Inner Ring Rd Vija

yaw
Himayat Sagar Lake ada
H ighw
ay
Rd
RR Na
ad
uO ga
N eh r
ab
r ju
sh
na
am
Sa
Sh
ga
rR
Note: This map is not to scale. d
Inference
In general, the western areas of Hyderabad are increasingly appealing to homebuyers because of their excellent connectivity
with the Nehru ORR and the airport, proximity to the various employment centers such as the HITEC City and the Financial
District, marked by the presence of a robust social and commercial infrastructure. This is clearly demonstrated by the fact that
since last 2 quarters the same micromarkets keep emerging as the most preferred across Hyderabad.
Research
Gachibowli 8,400 1 1 Gachibowli 8,400 1 1
Kondapur 8,300 2 2 Miyapur 5,500 2 2
Miyapur 5,500 3 3 Kondapur 8,300 3 3
Kukatpally 6,900 4 4 Kukatpally 6,900 4 4
Medchal Highway 5,900 5 5 Medchal Highway 5,900 5 5
Uppal 6,800 6 6 Uppal 6,800 6 6

Jubilee Hills-Banjara
Hills 9,600 7 7 Mehdipatnam 6,400 7 7
Jubilee Hills-Banjara
Mehdipatnam 6,400 8 8 Hills 9,600 8 8
Notes: Notes:

PropIndex | Magicbricks Kolkata
JUL-SEPT 2023

Residential demand and average rates in Kolkata inched up, while supply recorded a dip Parameters India Kolkata
During Q3 2023, Kolkata’s housing market witnessed a growth of 13.6% QoQ in demand (searches), while the supply Demand+ 8.4% 13.6%
witnessed a dip of 9.0% QoQ. The average property rates witnessed an increase of 7.3% QoQ. Supply++ -7.2% -9.0%
Rate Index+++ 5.4% 7.3%
The Kolkata residential real estate market continues to experience positive effects from the 2% stamp duty rebate and Notes:
the 10% reduction in circle rates, which were initially extended until September 30, 2023, following the State Budget Above parameters represent QoQ change in Q3 2023 at
announcement earlier in the year. The prolonged availability of incentives like these has proven beneficial in India and cit y level
encouraging purchasing decisions for both completed and ongoing projects, especially in a price-sensitive market like ++ change in volume of act ive list ings
Kolkata. This has been a key growth driver over the last two quarters. +++ change in t he average rat e of Under-
properties

RM Rate Change
active listings
6,000
Developer
Siddha Group
Shapoorji Pallonji Real Estate
PS Group
5,500
" RM segment South City Projects Kol Ltd.
recorded QoQ price DTC Projects Pvt. Ltd.
Magnolia Infrastructure Development
hike of 6.2%." Ltd.
Sureka Merlin & JB Group
Bengal Peerless Housing
5,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Merlin Group
Ready to Move Realtech Nirman Pvt. Ltd.


Siddha Town Rajarhat
6,500 Shapoorji Pallonji
Housing Complex Action Area III

Prince Anwar Shah
6,000
" UC segment South City Road
witnessed a QoQ Anahita New Town
average rate growth DTC Capital City Rajarhat

5,500
of 10.5%." Siddha Pine Woods Rajarhat Main Road
Shapoorji Paloonji
Sukhobristi New Town
5,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Realtech Rajvansh Rajarhat
Under Construction One Rajarhat New Town
Hidco Appartment New Town
Notes:

News
1. Property tax set to rise under UAA
0.00%
RM UC " Both RM and UC scheme in Kolkata civic body areas.
-5.00% The revision, as proposed by the KMC
segments recorded a assessment department and accepted
QoQ change in rates
-10.00% dip in QoQ demand by the mayor-in-council, will lead to a

hike in property tax rates of
and supply. Overall,
-15.00% residential buildings and flats of all
demand dipped more categories.
-20.00% than the supply for 2. Kolkata Municipal Corporation (KMC)
has decided to withhold issuance of
-25.00% all type of the completion certificate (CC) to a
-30.00%
properties." housing project or an individual
building if the real estate developer or
the owner of the land is found to have
Demand Supply
allowed hacking of trees without the
Note:
civic body’s permission.

Demand-Supply Analysis Kolkata | Jul-Sept 2023
Home buyers in Q3 2023 2 and 3 BHK units continue to hold majority share in the market
continue to favour Demand by BHK Supply by BHK
affordable properties in 7% 3%
10% 4%
1 BHK
localities such as 2 BHK
1 BHK
40 2 BHK
Rajarhat-Newtown and 45 3 BHK % 3 BHK
% Above 3BHK
45
South-East Kolkata. %
Above 3BHK 46
%
Rajarhat-Newtown continues to dominate the
market both in terms of demand and supply,
followed by Central and South-East Kolkata.
All three remain the preferred micro-markets
for home buying as per consumer searches Demand for affordable properties remain robust
as well as maximum supply as per active
listings.
The demand trends in Q3 2023 have shown a
18%
preference towards properties priced below 17%
INR 5,000 psf. The total demand share of <5,000 <5,000
these affordable properties accounted for
50% 5,000-7,500
50%, which was backed by 55% supply. 5,000-7,500
32% 29% 55%
>7,500 >7,500
" Kolkata’s residential market is
dominated by mid-size
configurations at affordable rates.”
-2 and 3 BHK units commanded a demand Highest demand for properties ranged between 1,000 and 1,500 sf
share of 45% each. At the same time, the
total supply for 2 BHK properties was 46%,
while that of 3 BHKs was around 40%. Demand by Rates Supply by Rates
2% 7% 2%
-Properties commanding below INR 5,000 psf 5% 14%
were the most preferred by homebuyers, Below 1,000 16% Below 1000
accounting for 50% demand. This was 28% 1,000-1,500 26% 1,000-1,500
backed by a 55% supply share. 1500-2000 1500-2000
2000-2500 2000-2500
49%
-Home buyers and developers are inclined 52% Above 2,500 Above 2,500
towards housing units ranging from 1,000 to
1,500 sf, as clearly indicated by 52% demand
and 49% supply.

12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
QoQ YoY
3.7%, respectively. Similarly, on an annual basis, all housing configurations exhibited positive changes, with +3 BHK units recording the highest year-
over-year increase of 8.4% followed by 1 and 2 BHKs with 8.3% each.

Rate Analysis Kolkata | Jul-Sept 2023

7,000
6,500
Rate (INR psf)
6,000
5,500
5,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average price in Kolkata has risen by 18.19% over the past two years. Notably, the quarter-on-quarter (QoQ) trend has
consistently been on the rise during this period, marking an additional 7.3% increase in Q3 2023.
4,100 4,700 6,400 7,800
On average, homes in Kolkata are offered at prices ranging from INR 14,700 per square foot to INR 32,300 per square foot,
25.00%
20.00%
15.00%
QoQ change in rates
10.00%
5.00%
0.00%
Rajarhat Newtown
South Extension
East Kolkata
South Kolkata
Central Kolkata
South East Kolkata
South-West Kolkata
North Kolkata
-5.00%
-10.00%

Within the list of the top 8 preferred neighborhoods, South Extension was the sole locality to witness a decrease of around 2.27% in its quarter-
over-quarter rates. Conversely, all other areas experienced an uptick in property prices. The most significant quarter-on-quarter (QoQ) increase in
average rates was observed in Rajarhat Newtown (10.00%), closely followed by East Kolkata (8.11%). Additionally, on an annual basis, all
neighborhoods, except for South Kolkata (-4.17% YoY change), displayed a positive change, presenting an overall optimistic outlook.

Micro-Market Statistics Kolkata | Jul-Sept 2023
d
nkR
Tru
nd
Rd
Gra
re
so
Jes
Belghoria Expy
Ko
n aE North Kolkata
xpy
Rajarhat-Newtown
Central Kolkata
South-west Kolkata South Kolkata
r
Southern Extention
ve
Ri
ly
og
Ho
Inference
Maximum traction in Kolkata comes from the eastern peripheral region driven by the availability of affordable properties,
proximity to the airport and to IT parks located in Newtown, Action Area 1 and 2. This is clearly demonstrated and justified by
the fact that not just in the last 2 quarters, but since last several quarters, the same micro markets (including Rajarhat-
Newtown, South-east Kolkata, Central Kolkata, etc.) keep emerging as the most preferred in Kolkata.
Research
Rajarhat Newtown 5,500 1 1 Rajarhat Newtown 5,500 1 1
Central Kolkata 8,300 2 2 Central Kolkata 8,300 2 2
Southeast Kolkata 6,300 3 3 South-West Kolkata 4,200 3 4
South Extension 4,300 4 4 Southeast Kolkata 6,300 4 3
South-West Kolkata 4,200 5 5 North Kolkata 4,900 5 5
North Kolkata 4,900 6 6 South Extension 4,300 6 6
East Kolkata 8,000 7 8 E M Bypass 4,000 7 7
South Kolkata 4,600 8 7 Howrah 3,800 8 8

Notes: Notes:

PropIndex | Magicbricks Mumbai
JUL-SEPT 2023

Mumbai residential market going through a phase of consolidation Parameters India Mumbai
In Q3 2023, total housing demand (searches) and supply (listings) in the city witnessed a decrease of 1.2% QoQ and Demand+ 8.4% -1.2%
4.4% QoQ respectively. The average prices witnessed an increase of 4.9% QoQ. Supply++ -7.2% -4.4%
Rate Index+++ 5.4% 4.9%
There is a strong sense of optimism that sales momentum will continue to improve, driven by factors such as Notes:
anticipated income growth and the persistent desire for homeownership. These factors remain pivotal drivers for Above parameters represent QoQ change in Q3 2023 at
residential sales in the Mumbai market. India and cit y level
Furthermore, some developers had postponed the commencement of construction activities until the auspicious +++ change in t he average rat e of Under-
festival of Ganesh Chaturthi, a traditional driver of real estate market activity, leading to a reduction in supply for the properties
current quarter. However, this trend is not expected to persist into the next quarter. S ource: M agicbricks Research

RM Rate Change
active listings
25,000
24,500
Developer
24,000 Nahar Group

Lodha
23,500
23,000 Piramal Realty
22,500
" RM segment Rustomjee
22,000
recorded QoQ price Godrej Properties
21,500
growth of 3.3%." Shapoorji Pallonji Group
21,000
Gurukrupa Group
20,500
Kanakia Spaces Realty Pvt. Ltd.
20,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Cooperative Group Housing Society
(CGHS)
Ready to Move
Kalpataru Ltd.

21,500
21,000 Shapoorji Pallonji
Vicinia Powai
20,500
20,000
" UC segment Marina Enclave Malad West
Nahar Amrit Shakti Chandivali
witnessed a QoQ
19,500
average rate increase I C Colony Borivali West
19,000
of 8.9%." Piramal Mahalaxmi Mahalakshmi
18,500
Piramal Aranya Byculla
18,000 Prestige Jasdan Classic Byculla
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Under Construction Kalpataru Radiance Goregaon West

Godrej Urban Park Chandivali
Kanakia Silicon Valley Powai
Notes:

News
1. Maharashtra to amend law to check
25.00%
violations in property registrations.
20.00% An amendment to section 21 of the
15.00% Registration Act has been proposed
QoQ change in rates
10.00% " While demand and to empower the state government to

5.00% supply for RM bring about the rules needed for the
description of the property in the
0.00% segment dipped, UC
RM UC document.
-5.00%
-10.00%
segment recorded a 2. NAREDCO Maharashtra plans to set-
up a RealTech Fund (RTF) with an initial
-15.00% noticeable increase commitment of Rs 50 crore which will be
-20.00% in both demand & further scaled as per the response to the
fund. This fund promises to propel and
-25.00%
supply." accelerate the growth of the real estate
Demand Supply industry in India through innovation and
technology.
Note:

Demand-Supply Analysis Mumbai | Jul-Sept 2023
Malad and Kandivali 2 BHK is the most in demand configuration in Mumbai

continue to be the most Demand by BHK Supply by BHK
preferred localities for 6%

7%
25% 1 BHK
home buyers 26%
2 BHK 24%
25% 1 BHK
2 BHK
3 BHK 3 BHK
Above 3BHK
In Q3 2023, the growth in Mumbai's Above 3BHK 44%
43%
residential market was witnessed in the
suburbs of the city. Malad and Kandivali
continue to drive demand and supply during
the quarter. Other western suburb localities
such as Andheri, Borivali-Dahisar, Goregaon,
INR 15,000-25,000 psf segment saw maximum demand in Q3 2023
and regions beyond Mira Road, witnessed the
highest demand and supply during the
quarter due to proximity to commercial office
spaces, affordable pricing, and construction
of the metro lines.
28% 21%
25% 27%
"Mumbai accounts for 43% PAN <15,000 <15,000
India demand and 44% supply." 15,000-25,000 15,000-25,000
51% >25,000 48% >25,000

-Mumbai is one of the few markets in India,
where demand for 1 BHK and 2 BHK units
have surpassed higher configuration units.
The smaller units (1 BHK & 2 BHK) accounted
for 69% of total demand.
Residences ranging from 1,000 to 1,500 sf witnessed highest traction
-Properties quoting INR 15,000-20,000 psf
witnessed highest demand and supply,
accounting for 51% and 48% respectively. Demand by Rates Supply by Rates
2% 7% 3%
-Home buyers (42%) and developers (41%) 6%
Below 1,000 Below 1000
are inclined towards units with unit sizes 27%
23% 1,000-1,500 22% 27% 1,000-1,500
between 1,000 and 1,500 sf.
1500-2000 1500-2000
2000-2500 2000-2500
42% Above 2,500 Above 2,500
41%

9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
QoQ YoY
In line with rising consumer preferences for larger apartments, prices for 3 BHK units increase by 6.3% QoQ and 11.1% YoY. This was followed by 2
BHK units, witnessing a price increase of 3.9% QoQ and 7.1% YoY.

Rate Analysis Mumbai | Jul-Sept 2023

24,000
23,500
23,000
22,500
22,000
Rate (INR psf)
21,500
21,000
20,500
20,000
19,500
19,000
18,500
18,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
As a result of consistently high demand, the average property rates in Mumbai have shown steady growth at a
compounded rate of 2.2% over the past eight quarters. The current quarter stands out with the highest change, recording
an increase of 4.9%.
14,700 19,700 26,600 32,300
On average, homes in Mumbai are offered at prices ranging from INR 14,700 psf to INR 32,300 psf, covering various
16.00%
14.00%
12.00%
10.00%
8.00%
6.00%
QoQ change in rates
4.00%
2.00%
0.00%
Goregaon
Beyond Mira Road

Andheri East-Jogeshwar...
Andheri West-Jogeshw...
Malad-Kandivali
Worli-Lower Parel
Powai
Borivali-Dahisar
The neighborhoods that top the list of buyer preferences are Malad-Kandivali, Goregaon, Andheri East-Jogeshwari East, with
QoQ price increase of 2.91%, 3.28%, and 1.06%, respectively. Encouragingly, all the top 8 preferred localities experienced
price increases when comparing QoQ data. Additionally, when we examine the annual figures, all these neighborhoods
showed a positive trend, with highest YoY change (15.22%) in Worli-Lower Parel, reflecting an overall positive outlook.

Micro-Market Statistics Mumbai | Jul-Sept 2023
Beyond Mira Rd
Highway
Borivali-Dahisar
press
Malad-Kandivali THANE
Western Ex
Goregaon
Andheri-Jogeshwari (W) Andheri-Jogeshwari (E)
Powai
NAVI
y
wa MUMBAI
ARABIAN SEA
gh
Hi
s
es
pr
n Ex
er
Bandra-Worli Sealink
ay st
ew Ea
Fre
Worli-Lower Parel
n
ter
Eas
Inference
The western suburbs of Mumbai have gained increasing popularity among homebuyers due to their exceptional connectivity to
various employment hubs and improved social and retail infrastructure. This is evident from the fact that in both Q2 2023 and
Q3 2023, neighborhoods like Malad-Kandivali have emerged as the top choices for homebuyers, along with other preferred
areas such as Andheri East-Jogeshwari East, Borivali-Dahisar, and more. Notably, Goregaon has risen from the 8th rank in Q2
2023 to the 2nd rank this quarter. This ascent can be attributed to its proximity to business districts, robust retail infrastructure,
Chhatrapati Shivaji Maharaj International Airport, and excellent connectivity to the Western Express Highway.
Research
Malad-Kandivali 17,700 1 1 Malad-Kandivali 17,700 1 1
Goregaon 18,900 2 8 Borivali-Dahisar 18,400 2 3

Andheri East-Jogeshwari Andheri West-
East 19,100 3 4 Jogeshwari West 25,000 3 2
Andheri East-Jogeshwari
Borivali-Dahisar 18,400 4 5 East 19,100 4 5
Andheri West-
Jogeshwari West 25,000 5 3 Goregaon 18,900 5 6
Beyond Mira Road 5,300 6 2 Mira-Bhayandar 9,200 6 4
Worli-Lower Parel 42,400 7 7 Worli-Lower Parel 42,400 7 -
Powai 22,200 8 6 Mulund 18,500 8 7

Notes: Notes:

PropIndex | Magicbricks Navi Mumbai
JUL-SEPT 2023
The Navi Mumbai market witnessed an increase in property demand and prices, despite slowdown Parameters India Navi Mumbai
in supply
Demand+ 8.4% 8.9%
In Q3 2023, Navi Mumbai's residential market witnessed a growth (searches) of 8.9% QoQ in demand. The average Supply++ -7.2% -8.0%
property rate recorded an increase of 2.9% QoQ. However, the supply (listings) saw a decline of 8.0% QoQ.
Rate Index+++ 5.4% 2.9%
New launches are expected by reputed developers in the city on the back of upcoming infrastructure developments Notes:
such as the new suburban railway corridor between Panvel–Karjat, Navi Mumbai International Airport, and Mumbai Above parameters represent QoQ change in Q3 2023 at
Trans Harbour Sea Link. These will further boost demand in the city. + change in volume of propert y searches
properties

RM Rate Change
active listings
10,500
10,000 Developer
9,500
9,000
Cooperative Group Housing Society
(CGHS)
8,500
8,000 Paradise Group
7,500 PARADISE GROUP BUILDERS &
7,000 " RM segment DEVELOPERS
6,500 recorded QoQ price Kamdhenu Realities
6,000 Sai Developers
5,500 growth of 2.3%."
Bhagwati Group
5,000
4,500 Gami Group
4,000 Bhairaav Group
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Gami Builders
Ready to Move
Seawood Builders And Developers

10,500 Project Locality
10,000
Kamdhenu Vogue Sanpada
Bhairaav Goldcrest
9,500
" UC segment Residency Ghansoli
witnessed a QoQ Gami Terra Sanpada
9,000 average price growth Bhagwati Eleganza Ghansoli
8,500
of 4.4%." Sai Pooja Kamothe
Aurum Q Residences Ghansoli
8,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Gami Jade Vashi
Under Construction Arihant Advika Vashi
Raheja Atlantis Ghansoli

Hiranandani Fortune
Notes: City Panvel

News
0.00% 1. CIDCO is developing the NMIA on
RM UC 1,160 hectare by acquiring land
-5.00%
-10.00% " Both RM and UC from 10 revenue villages in
QoQ change in rates
Panvel Taluka of Raigad district.

-15.00% segments recorded a
The villagers have been
-20.00% dip in QoQ demand evacuated from their ancestral
-25.00%
and supply. Maximum homes and shifted to rental
-30.00% houses.
-35.00% dip of 46.89% was 2. CIDCO has been appointed as the
-40.00% observed in the New Town Development Authority
-45.00% demand for UC (NTDA) for Jalna-Kharpudi New
-50.00% Town Project under the
segment." Maharashtra Regional and Town
Demand Supply Planning (MRTP) Act, 1966 by the
state government
Note:

Demand-Supply Analysis Navi Mumbai | Jul-Sept
2023
Kharghar, Vashi and 1 and 2 BHKs constitute major share of Navi Mumbai’s housing market
Airoli remain the most Demand by BHK Supply by BHK
2%
preferred residential 2%
1 BHK
destinations 14% 26%
2 BHK
16%
33%
1 BHK
2 BHK
3 BHK 3 BHK
49% Above 3BHK
Conceived to cater to the burgeoning population 57% Above 3BHK
of Mumbai, Navi Mumbai thrives on its planned
infrastructure. Following the same trend as the
last several quarters, this quarter also, localities
of Kharghar, Vashi and Airoli marked their
presence on top of the charts.
The availability of land parcels at affordable
Premium segment properties (>INR 10,000) witnessed the highest
rates and CIDCO’s developmental initiatives demand in Q3 2023
have paved the way for rapid growth in these
regions. Other preferred localities of the city Demand by Rates Supply by Rates
include Nerul, Panvel, etc. due to the proximity
to the CBD Belapur and other major
employment hubs in and near Airoli and 16%
Ghansoli areas.
<7,500 31% <7,500
7,500-10,000 36% 7,500-10,000

57% 27%
“2 BHK premium housing units
>10,000 >10,000
dominate Navi Mumbai’s residential
33%
market.”
2 BHKs are the most popular in Navi Mumbai,

having 57% demand share and 49% supply
share. Demand for 1 BHKs dipped from 32% in Residences ranging from 1,000 to 1,500 sf observed maximum demand
Q2 2023 to 26% in Q3 2023; and supply
reduced from 34% in Q2 2023 to 33% in Q3 and supply shares
2023.
At the same time, this quarter, the demand and
supply for premium properties were maximum, 3% 1% 1%
3%
accounting for 57% and 36% respectively. In Below 1,000 Below 1000
terms of cover area, properties ranging between 22% 24% 22% 32%
1,000-1,500 1,000-1,500
1,000 sf to 1,500 sf commanded the highest
demand of 50%, backed by 42% supply. 1500-2000 1500-2000
2000-2500 2000-2500
50% 42%

6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
QoQ YoY
Looking at the quarterly changes, all housing configurations demonstrated positive growth except for 1 BHK units, which experienced a 2.6%
decline. Conversely, homes with more than 3 bedrooms (3+ BHKs) saw the highest quarterly growth of 1.5%, suggesting a preference among
homebuyers for larger residences. Similarly, on an annual basis, all housing configurations exhibited positive changes, with 1 BHK units recording the
highest year-over-year increase of 9.7%.

Rate Analysis Navi Mumbai | Jul-Sept 2023

12,000
11,500
11,000
10,500
Rate (INR psf)
10,000
9,500
9,000
8,500
8,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Average price has increased by 8.84% in the last two years despite there being periods of stagnation or gradual increase.
This was at a compounded rate of 1.1% per quarter during these six quarters.
8,000 9,700 11,600 12,100
On average, homes in Navi Mumbai are offered at prices ranging from INR 8,000 per square foot to INR 12,100 per square foot, covering various
7.00%
6.00%
5.00%
4.00%
QoQ change in rates
3.00%
2.00%
1.00%
0.00%
Kamothe
Taloja
Vashi
Airoli
Panvel
Nerul
Belapur
Kharghar
-1.00%
-2.00%
-3.00%
The localities most preferred by homebuyers include Kharghar, Vashi and Airoli with 0.0%, 2.36% and 1.65% QoQ changes
respectively. Overall, among the top 8 preferred localities, Kamothe was the only locality that experienced a slight decrease of
approximately 1.3% in its quarter-over-quarter rates, whereas all the other areas remained stable or saw an increase in
property prices. Looking at the annual data, all the neighborhoods exhibited a positive trend, indicating an overall positive
outlook.

Micro-Market Statistics Navi Mumbai | Jul-Sept 2023
Mu
mb
Airoli
ra-
Pa
nve
lH
igh
wa
y
MUMBAI
Vashi
Taloja
Kharghar
y
ghwa
i Nerul
n eH Kamothe
ai -Pu Belapur
mb
Mu Panvel
M
um
ba
i- P
un
eH
igh
wa
d
lR
y
ve
Pan
-
an
Ur
Arabian Sea
Inference
In general, the northern areas of Navi Mumbai are gaining the highest traction of homebuyers. Proximity to Thane city and
good infrastructure facilities coupled with numerous employment opportunities prevailing in these areas proved to be the
major contributing factors for this trend. As a result, localities such as Kharghar, Vashi and Airoli have been securing the top
positions in the chart for the last two quarters.
Research
Kharghar 9,200 1 2 Kharghar 9,200 1 1
Vashi 13,000 2 1 Panvel 7,000 2 2
Airoli 12,300 3 4 Taloja 6,300 3 3
Panvel 7,000 4 3 Airoli 12,300 4 4
Kamothe 7,600 5 5 Vashi 13,000 5 5
Nerul 13,900 6 7 Kamothe 7,600 6 6
Taloja 6,300 7 6 Nerul 13,900 7 7
Belapur 11,900 8 8 Belapur 11,900 8 8

Notes: Notes:

PropIndex | Magicbricks Noida
JUL-SEPT 2023

Noida experienced a notable 20.4% quarter-on-quarter increase in residential demand, making Parameters India Noida
it the second-fastest growing market in India.
Demand+ 8.4% 20.4%
During Q3 2023, the residential market in Noida experienced a demand increase of 20.4% QoQ, surpassing Supply++ -7.2% -4.8%
other NCR markets of Gurugram and New Delhi. For a market which is flourishing on the demand share, Rate Index+++ 5.4% 8.5%
surprisingly there was a QoQ dip of 4.8% in the aggregate supply of residential listings. Owing to the
Notes:
excellent demand, the average prices during this period observed a significant growth of 8.5%. Above parameters represent QoQ change in Q3 2023 at
Noida, being one of the prominent commercial and employment hub, marked by Noida Electronic City and ++ change in volume of act ive list ings
Film City, acts as the perfect pull magnet not for just people in NCR but also luring major workforce from Const ruct ion (UC) and Ready-to-move (RM)
across the country. The affordable housing options add to the demand. properties

RM Rate Change
active listings
8,000
Developer
Amrapali Group
7,500
Jaypee Greens
ATS Infrastructure Ltd.

7,000
" RM segment Gardenia Group
recorded QoQ price Supertech Ltd.
6,500 growth of 6.4%." IITL Nimbus Group
Mahagun Group
The Antriksh Group
6,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Sikka Group
Ready to Move ACE Group


9,500 Siddha Town Rajarhat
Amrapali Silicon City Sector 76

9,000
" UC segment Jaypee Aman Sector 151

8,500
The Hyde Park Sector 78
recorded QoQ price
8,000 growth of 13.4%." Gardenia Gateway Sector 75
Supertech Capetown Sector 74
7,500
Amrapali Princely Estate Sector 76
7,000 Paras Tierea Sector 137
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Under Construction
Logix Blossom County Sector 137
Amrapali Sapphire Sector 45
Gardenia Glory Sector 46
Notes:

News
1. YEIDA Approves Draft Master Plan
10.00% " RM segment fared
For 2041- The Yamuna Expressway
0.00% in more demand QoQ and Industrial Development
RM UC compared to UC Authority (YEIDA) have given the
QoQ change in rates
-10.00% green light to their draft master

segment, inferring plan for the year 2041 during their
-20.00% homebuyers in Noida 78th board meeting this quarter.
2. The Uttar Pradesh Real Estate
-30.00% are more likely to Regulatory Authority (UP-Rera) has
inclined towards decided to ask banks to provide
-40.00% funds to delayed real estate
projects offering projects in Noida and Greater
-50.00% immediate Noida. The move comes after the
authority found that many
Demand Supply possession." homebuyers’ associations are
Note:
1. Above table represents the rate changes for RM and UC properties for dominant asset classes in each locality under various rate buckets (INR struggling to arrange funds to
psf) as of Sept 2023. complete projects.

Demand-Supply Analysis Noida | Jul-Sept 2023
Noida Expressway (South) 3 BHKs come up to be the most preferred segment

dominance this quarter as 13 3% 14 3%
% %
well. 1 BHK
35 1 BHK
37
% 2 BHK %
2 BHK
3 BHK 3 BHK
Considering both demand and supply 48
Above 3BHK
Above 3BHK
share, Noida Expressway continued its %
dominance as Noida’s top micro-market 48
%
owing to a developing commercial
infrastructure, affordable housing options,
and its strategic placing which connects
seamlessly to Greater Noida & Delhi as
well. 7,500 psf
Overall, most of the demand in Noida is
concentrated towards the southern
21% 20%
region, due to their excellent connectivity 31%
<5,000 <5,000
with the Expressway. Moreover, myriads 36%
of ready to move in housing options and 5,000-7,500 5,000-7,500
developing commercial infrastructure in 48% 44% >7,500
>7,500
that specific growth corridor attract
homebuyers from various locations.
"3 BHK mid-segment units costing

between INR 5,000-7,500 psf on
cover area were the most searched
Residences with cover area ranging from 1,500 to 2,000 sf witnessed
unit types in the city." highest traction
2 BHKs also were in preference, having a
4% 3% 7% 3%
significant share of 37% in demand and
12% Below 1,000 Below 1000
35% in supply. 15%
33% 1,000-1,500 30% 1,000-1,500
1500-2000 1500-2000
In terms of apartment sizes, both
2000-2500 2000-2500
homebuyers and developers are inclined 45%
towards units with cover area ranging 48%
from 1,500 – 2,000 sf, accounting for
48% demand and 45% supply share.

45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
QoQ YoY
Looking at the quarterly changes, every configuration witnessed a hike in QoQ as well as YoY demand, but 1 BHKs witnessed the highest QoQ jump
amongst all configurations, highlighting that despite being an affordable city, homebuyers in Noida still opt for compact units.

Rate Analysis Noida | Jul-Sept 2023

9,000
8,500
8,000
7,500
Rate (INR psf)
7,000
6,500
6,000
5,500
5,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average property rates in Noida have shown consistent growth, increasing by an average of 4% over the past eight
quarters, with no declining trend in the past 2 years. Among all the quarters in the past two years, this quarter witnessed
the most significant jump, registering an increase of approximately 8.5% quarter-on-quarter (QoQ).
7,000 6,600 7,800 9,800

On average, residential properties in Noida are available within a price range of INR 6,000 per square foot to INR 10,000 per square foot, encompassing various
configurations as mentioned earlier. Specifically, the average price per square foot for 1 BHK units stands at INR 7,000. In contrast, luxury segments such as those
comprising units with more than 3 bedrooms command a higher average rate of INR 9,800 per square foot. Surprisingly, 2 BHK units are priced lower than 1 BHK units
(in terms of price per sq ft) in this area, primarily because most projects offering 2 BHKs provide more carpet area in comparison to 1 BHK units within the same super
area
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
QoQ change in rates
0.00%
Noida Expressway South
Dadri Main Road
Atta Market
Vikas Marg (Near Noida Extens...
West Noida (near Sector 15 Metr...

Noida Expressway Main (till sec...
Central Noida (near Golf Marg)
-10.00%
-20.00%
All the micromarkets within Noida registered a QoQ and YoY price growth. Only West Noida registered a YoY dip due to delay
in possession of the new launches over the past year.

Micro-Market Statistics Noida | Jul-Sept 2023
DELHI West Noida

Central Noida
Atta Market
No
i da
Vikas Marg
-G
rN
oid
aL
Noida Expressway Main Dadri Main Rd
i nk
No
Rd
i da
-G
rN
oi d
aE
xp
y
Noida Expressway (S)
Inference
Overall, most of the demand in Noida is concentrated towards the southern region, due to their excellent connectivity with the
Expressway. In addition to that, plenty of ready to move in housing options and developing commercial infrastructure towards
the southern region of the growth corridor attract homebuyers from nearby locations, who move to this city in search of job.
Research
Noida Expressway South 6,500 1 1 Noida Expressway South 6,500 1 1

Noida Expressway Main Noida Expressway Main
(till sector 93B) 8,300 2 4 (till sector 93B) 8,300 2 3
Dadri Main Road 11,600 3 2 Dadri Main Road 11,600 3 2

Central Noida (near Golf Vikas Marg (Near Noida
Marg) 8,600 4 3 Extension) 7,600 4 5
Vikas Marg (Near Noida Central Noida (near Golf
Extension) 7,600 5 6 Marg) 8,600 5 4
Atta Market 10,400 6 5 Atta Market 10,400 6 6

West Noida (near Sector West Noida (near Sector
15 Metro Station) 6,800 7 7 15 Metro Station) 6,800 7 7
Notes: Notes:

PropIndex | Magicbricks Pune
JUL-SEPT 2023

Pune witnessed a hike in demand and property rates; supply dipped Parameters India Pune
During Q3 2023, Pune's residential market observed an increase in demand (searches) of 3.1% QoQ, while the supply Demand+ 8.4% 3.1%
(listings) within the city dipped by 9.7% QoQ. Further, property prices witnessed a growth of 2.4% QoQ. Supply++ -7.2% -9.7%
Rate Index+++ 5.4% 2.4%
In the 23 merged villages of Pune, real estate development has stagnated due to the pending final approval of the Notes:
development plan prepared by PMRDA. Developers are currently in a holding pattern as they await these approvals, Above parameters represent QoQ change in Q3 2023 at
which has led to a decrease in the supply of properties. However, with the upcoming Pune Ring Road project, Metro India and cit y level
Line 3 connecting Hinjewadi to Shivaji Nagar, the High-Capacity Mass Transit Route (HCMTR), and several town ++ change in volume of act ive list ings
planning schemes in the pipeline, it is anticipated that the property supply will expand soon. This, in turn, is expected +++ change in t he average rat e of Under-
to further boost the increasing demand and rates for properties in the city. properties

RM Rate Change
active listings
8,000
Developer
7,800
Kolte Patil Developers Ltd.
Nyati Group
7,600
Godrej Properties
" RM segment Kumar Properties
7,400
recorded QoQ price Dreams Group
growth of 1.9%." Bramhacorp Ltd.
7,200
Goyal Ganga Group
Amanora Park Town
7,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Naiknavare Developers Pvt. Ltd.
Ready to Move
Paranjape Schemes Construction Ltd.

Project Locality
7,800
Ganga Satellite Wanowrie

7,600 Xrbia Hinjewadi Hinjawadi
" UC segment
Anusuya Enclave Wanowrie
7,400
witnessed a QoQ Green City Hadapsar
7,200 average rate growth ARV New Town Pisoli
of 3.4%." Margosa Heights NIBM Annexe Area
7,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Sacred Heart Town Wanowrie
Under Construction Life Republic Hinjawadi
Godrej Greens Undri

Notes: Eisha Varsha Wanowrie

News
1. In Pune, the registration
15.00%
department's 27 offices in the city
10.00% cleared over 90% of 13,500
pending leave-and-license
QoQ change in rates
" While demand for

5.00% applications in four days, bringing
both RM and UC much relief to citizens hassled by
0.00% segments increased, the delays in online enrolments.
RM UC
-5.00% supply for both 2. Residents and local leaders of the
segments observed a 23 merged villages of Pune have
-10.00% demanded implementation of the
dipping trend." Unified Development Control And
-15.00% Promotion Regulations (UDCPR) by the
state government. The real estate
Demand Supply
development in these areas has come
Note: to a halt as the development plan
1. Above table represents the rate changes for RM and UC properties for dominant asset classes in each locality under various rate buckets
prepared by PMRDA is yet to receive
(INR psf) as of Sept 2023.
the final approval.

Demand-Supply Analysis Pune | Jul-Sept 2023
Dwarka & Greater Homebuyers are inclined towards 2 BHK configurations

Kailash remain top Demand by BHK Supply by BHK
choices for prospective 5% 14

%
6%
16%
29 1 BHK
homebuyers. %
2 BHK
28% 1 BHK
2 BHK
3 BHK 3 BHK
Above 3BHK
52 Above 3BHK 49%
Considering both demand and supply,
%
Dwarka and Greater Kailash (GK) sustain
their leadership positions as Pune's foremost
micro-markets. This is attributed to their
robust commercial infrastructure, excellent
connectivity to mass transit networks, and a
Properties priced <INR 7,500 psf saw maximum demand in Q3 2023
diverse range of housing choices.
In general, the majority of demand in Pune is Demand by Rates Supply by Rates

concentrated in the southern and western
regions. This preference is driven by their
proximity to the airport and convenient 11%
13%
access to major employment hubs located in <7,500 <7,500
nearby satellite cities like Gurugram and 28%
34% 7,500-10,000 7,500-10,000
Noida, which are renowned as IT-centric 53% 61%
centers that cater to the needs of Pune. >10,000 >10,000
"3 BHK units costing between INR

10,000-20,000 psf on cover area
dominate consumer preferences"
Housing units ranging from 1,000 to 1,500 sf observed maximum
traction
In terms of apartment sizes, both
8% 3% 7% 2%
homebuyers and developers are inclined 13% 17%
Below 1,000 Below 1000
1,500 – 2,000 sf, accounting for 35% for 1,000-1,500 1,000-1,500
27% 27%
both demand and supply share. 1500-2000 1500-2000
2000-2500 2000-2500
49%
46%

6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
QoQ YoY
1.7%, respectively. Similarly, on an annual basis, all housing configurations exhibited positive changes, with 2 BHK units recording the highest year-
over-year increase of 4.9% followed by 3 BHKs recording 4.8% YoY change.

Rate Analysis Pune | Jul-Sept 2023

8,000
7,800
7,600
7,400
7,200
Rate (INR psf)
7,000
6,800
6,600
6,400
6,200
6,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
The average residential property rates in Pune have risen by 11.91% over the past two years. Notably, the quarter-on-
quarter (QoQ) trend has consistently shown an upward trajectory during this period, marking an additional 2.4% increase
in Q3 2023.
5,700 6,900 8,500 9,800
On average, homes in Pune are offered at prices ranging from INR 5,700 per square foot to INR 9,800 per square foot,
12.00%
10.00%
8.00%
6.00%
QoQ change in rates
4.00%
2.00%
0.00%
Airport Road
Wakad
Paud Road
Undri-Pisoli
Kondhwa-Wanwadi
Hinjewadi
Hadapsar
Baner
The neighborhoods that top the list of preferences for homebuyers are Kondhwa-Wanwadi, Airport Road, and Hadapsar,
with QoQ price changes of 2.90%, 2.35%, and 2.90%, respectively. Encouragingly, all the top 8 preferred localities
experienced price increases when comparing QoQ data. Additionally, when we examine the annual figures, all these
neighborhoods show a positive trend, reflecting an overall positive outlook.

Micro-Market Statistics Pune | Jul-Sept 2023
Ol d
Wakad
Mu
mb
ai-
d
ar R
Pu
ag
edn
n
A hm
eR
Hinjewadi e-
Pun
d
Mum
Airport Rd
b
ai-Be
Baner
n
galu
Mula Mutha
River
ru
High
Hadapsar
way
Pune-Sho
Paud Rd la pur Rd
Kondhwa-Wanwadi
Undri-Pisoli
Sas
wa
dR
d
Katraj Rd
Inference
Overall, the western and eastern peripheral regions of Pune are witnessing the strongest interest from homebuyers. Localities
like Kondhwa-Wanwadi have surged to the top position, moving up from rank 4 to rank 1 in the current quarter. Similarly,
Hadapsar has claimed the third position, jumping from rank 8 in Q2 2023. These shifts can be attributed to their proximity to
the city center, robust infrastructure, and abundant employment opportunities in and around these areas. Other localities such
as Wakad and Baner continue to secure their positions in the top 8 owing to the presence of several IT Parks and educational
institutions within the areas.
Research
Kondhwa-Wanwadi 7,100 1 4 Airport Road 8,700 1 1
Airport Road 8,700 2 3 Baner 9,000 2 2
Hadapsar 7,100 3 8 Hadapsar 7,100 3 3
Baner 9,000 4 1 Undri-Pisoli 5,500 4 5
Undri-Pisoli 5,500 5 2 Kondhwa-Wanwadi 7,100 5 6
Wakad 7,200 6 6 Wakad 7,200 6 4
Paud Road 9,000 7 5 Paud Road 9,000 7 7
Hinjewadi 6,400 8 7 Hinjewadi 6,400 8 8

Notes: Notes:

PropIndex | Magicbricks Thane
JUL-SEPT 2023

Demand for properties and property prices continue to rise, while the supply continues to decline Parameters India Thane
In Q3 2023, the city witnessed a QoQ growth of4.0% in housing demand (searches), a decrease of 7.8% QoQ in supply Demand+ 8.4% 4.0%
(listings) and an increase of 5.2% QoQ in average prices. Supply++ -7.2% -7.8%
Rate Index+++ 5.4% 5.2%
In Thane, there has been a decrease in residential project launches in recent quarters as developers are currently Notes:
prioritizing the sale of existing unsold inventory. Nevertheless, the city is poised for potential growth due to various Above parameters represent QoQ change in Q3 2023 at
transportation-related infrastructure projects in the pipeline. These include the development of a new metro line, a India and cit y level
suburban train link connecting Thane and Diva, a new waterway from Kalyan to the western suburbs via Thane, the ++ change in volume of act ive list ings
proposed suspension of the Mumbai-Ahmedabad high-speed railway, and the proposed introduction of a personal +++ change in t he average rat e of Under-
rapid transport system (PRTS). These initiatives are anticipated to drive both demand and supply in the local property properties
market, thereby uptick the average rates. S ource: M agicbricks Research

RM Rate Change
active listings
12,000
11,800 Developer
11,600
Lodha
11,400
Kalpataru Ltd.
11,200
Puranik Builders Ltd.
11,000 " RM segment DOSTI REALTY
10,800 recorded QoQ price Runwal Developers
10,600
growth of 6.0%." Hiranandani Group
10,400
Raunak Group
10,200
Godrej Properties
10,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Rosa Group
Ready to Move TATA Housing Development Company
Ltd.

Project Locality
12,000 Lodha Amara Kolshet Road

Kalpataru Paramount Kapurbawdi
" UC segment
Sunrise by Kalpataru Kolshet Road
witnessed a QoQ
11,500 average rate growth Lodha Sterling Kolshet Road
of 4.1%." Lodha Splendora Ghodbunder Road
Casa Bella Gold Dombivli East
11,000
Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Acme Ozone Ghodbunder Road
Under Construction Vasant Leela Apartment Ghodbunder Road
Rustomjee LA VIE Majiwada

Notes: Godrej Emerald Bhayandarpada

News
1. Thane Zilla Parishad to map and
0.00%
RM UC create a database of over 95,000
-5.00% properties. This exercise involves
charting out all properties
QoQ change in rates
" Both RM and UC

-10.00% including schools, offices,
segments recorded a community centers and
-15.00% dip in QoQ demand playgrounds and open spaces
among others that are owned by
-20.00% and supply." the government in Thane district.
-25.00% 2. Thane civic body recovers 25% of

its FY24 property tax target. The
-30.00% Majiwada Manpada ward accounted for
nearly 33% of the total property tax
Demand Supply
collected by the TMC in this period
Note: among the nine wards in the city,
1. Above table represents the rate changes for RM and UC properties for dominant asset classes in each locality under various rate buckets
followed by Vartaak Nagar and
(INR psf) as of Sept 2023.
Naupada-Kopri wards.

Demand-Supply Analysis Thane | Jul-Sept 2023
Home buyers prefer 2 BHK highest in demand followed by 1 BHK configurations

premium properties Demand by BHK Supply by BHK
along Ghodbunder Road 3%

4%
24% 1 BHK
18% 1 BHK
20% 2 BHK 35% 2 BHK
Ghodbunder Road continues to be the most 3 BHK 3 BHK
searched micro-market of Thane city. In Above 3BHK
53% Above 3BHK 43%
comparison to the previous quarter, Kolshet
has proved to be the emerging choice
amongst home buyers due to the presence of
various business opportunities, better
amenities and excellent connectivity to other
areas of the city via metro and road network. Properties priced between INR 9,000-13,000 psf were in high demand
Other major attractive localities in Thane

include Western Thane, Majiwada, Demand by Rates Supply by Rates
Hiranandani Estate, Vartak Nagar and the
neighboring areas such as Dombivli and
25%
Kalyan. They are connected to the rest of
<9,000 <9,000
MMR through road and/or rail making them 28% 40%
32%
good investment options. 9,000-13,000 9,000-13,000
>13,000 >13,000
"Majority of home buyers prefer 2 BHK 47%
28%
premium housing properties between
1,000 and 1,500 sf area."
2 BHK units continued to witness the most

traction in Q3 2023 with a share of 53% in Homebuyers are inclined towards units ranging from 1,000 to 1,500 sf
demand and 43% in supply.
cover area
Home buyers in Thane are inclined towards
premium housing projects (INR 9,000-13,000 Demand by Rates Supply by Rates
psf) as evident from 47% share in demand. 2% 1% 3% 1%
However, in terms of supply for properties
<INR 9,000 psf, the supply is 40%; and for 17% Below 1,000 14% Below 1000
properties between INR 9,000 and 13,000 psf 27% 1,000-1,500 1,000-1,500
41%
the supply is 28%. 1500-2000 1500-2000
In terms of cover area, the demand and 2000-2500 2000-2500
supply for properties ranging from 1,000 to
53% 41%
1,500 was maximum, accounting for 53%
and 41% respectively.

7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
-1.00%
-2.00%
QoQ YoY
5.2%, respectively. Similarly, on an annual basis, 3 BHK units recorded the highest year-over-year increase of 5.8% and units higher then 3 BHKs
observed a negative trend of -1.1% YoY.

Rate Analysis Thane | Jul-Sept 2023

12,000
11,500
11,000
Rate (INR psf)
10,500
10,000
9,500
9,000
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Although there was a brief decline in rates during Q4 2022, the market rebounded in the following quarter, leading to a
cumulative average rate increase of 11.91% over the past two years. This was at a compounded rate of 1.9% per quarter
during these six quarters.
8,200 10,900 13,900 15,500
On average, homes in Navi Mumbai are offered at prices ranging from INR 8,200 per square foot to INR 15,500 per square
foot, covering various configurations as mentioned above
12.00%
10.00%
8.00%
6.00%
QoQ change in rates
4.00%
2.00%
0.00%
Ghodbunder Road
Kalyan
Kolshet
Western Thane
Hiranandani Estate
Majiwada
Dombivali
Vartak Nagar
During Q3 2023, all the top 8 preferred localities saw an increase in property prices. Some of the top preferred localities by
homebuyers such as Ghodbunder Road, Kolshet and Western Thane saw QoQ rate changes of 2.86%, 0.75% and 3.60% QoQ
respectively. At the same time, looking at the annual data, all the neighborhoods exhibited a positive trend, indicating an
overall positive outlook.

Micro-Market Statistics Thane | Jul-Sept 2023
Va
sa
iC
re
ek
Ghodbunder Rd
Rd
ra
Ag
ay
sw
d
s
Ol
e
xpr
E
ik
sh
Western Thane i- Na
mba
u Kalyan
M
Kolshet
Hiranandani Estate Majiwada

Highway
er
Ulhas Riv
Express
Dombivali Vartak Nagar

Western
y
wa
igh
sH
M
res
um
E xp
br
a-P
n
an
ter
NAVI
ve
MUMBAI
Eas
MUMBAI
l

Hw
y
Inference
Western areas of Thane are attracting the most attention from homebuyers. Proximity to Mumbai city and good infrastructure
facilities coupled with numerous employment opportunities prevailing in these areas proved to be the major contributing
factors for this trend. Consequently, localities such as Ghodbunder Road, Western Thane, and Kolshet have consistently held
top positions in the rankings for several quarters.
Research
Ghodbunder Road 10,800 1 1 Ghodbunder Road 10,800 1 1
Kolshet 13,500 2 6 Dombivali 6,800 2 2
Western Thane 14,400 3 2 Majiwada 13,700 3 4
Majiwada 13,700 4 4 Kolshet 13,500 4 3
Dombivali 6,800 5 3 Western Thane 14,400 5 5
Hiranandani Estate 15,300 6 5 Ambernath-Badlapur 4,200 6 7
Vartak Nagar 15,000 7 7 Kalyan 5,800 7 6
Kalyan 5,800 8 8 Hiranandani Estate 15,300 8 6

Notes: Notes:
1. Top micro-markets ranked by number of searches on Magicbricks in Q3 2023. 1. Top micro-markets ranked by their active listings on Magicbricks in Q3
2. Average rate in the micro-market in INR psf. 2023.
2.Average rate in the micro-market in INR psf.

PropIndex | Magicbricks Jul-Sept 2023
Glossary
1 BHK Bedroom, Hall, Kitchen

2 CG Road Chimanlal Girdharlal Road
3 Cr Crore
4 ECR East Coast Road
5 EM Bypass Eastern Metropoliton Bypass
6 Exp Express
7 Expy Expressway
8 Extn Extension
9 ft feet
10 Hwy Highway
11 INR Indian Rupee / Indian Rupees
12 N North
13 OMR Old Mahabalipuram Road
14 ORR Outer Ring Road
15 psf per square feet
16 Q1 January, February and March
17 Q2 April, May and June
18 Q3 July, August and September
19 Q4 October, November and December
20 QoQ Quarter on Quarter
21 Rd Road
22 RERA Real Estate Regulatory Authority
23 RM Ready to Move
24 S South
25 sf square feet
26 SG Highway Sarkhej Gandhinagar Highway
27 UC Under Construction
28 W West
29 YoY Year on Year
Disclaimer: The data presented in the report 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 accept any 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.
About Magicbricks: India's No. 1 Property Site
As the largest platform for buyers and sellers of property to connect in a transparent manner,
Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property
listings. Magicbricks has metamorphosed into a full-stack service provider for all real estate needs,
with 15+ services including home loans, pay rent, movers and packers, legal assistance, property
valuation, and expert advice.
With 15+ years of experience and deep research-based knowledge, Magicbricks also presents a
repertoire of insight-driven platforms like MBTV- India’s leading online real estate YouTube channel,
and other proprietary tools so that home buyers can access all information related to price trends
and forecasts, locality reviews and more.
For more information and research related queries, please contact:
Abhishek Bhadra| Research Head Pratit Kumar Das | Research Analyst

abhishek.bhadra@magicbricks.com
Lopa Raval | Research Analyst
Disclaimer: The data presented in the report 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 accept any 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.

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PropIndex | Indi

real estate sector forward in the coming months.

© 2023 magicbricks.com Page 2

Cover Area wise demand change analysis – QoQ and YoY

As per Magicbricks research, prospective

apartments. Demand for apartments which

Also, apartments with 3 or more bedrooms

units have surpassed higher configuration

BHK & 2 BHK) accounted for 69% of total

Ahmedabad and New Delhi have the highest

respectively. Below 500 500-750 750-1250 1250-2000 2000-3000 Above 3000

BHK wise Supply change analysis QoQ and YoY

0% 10% 20% 130%

© 2023 magicbricks.com Page 3

Source: Magicbricks Research

BHK wise demand share

1 BHK 2 BHK 3 BHK Above 3 BHK

Cover Area wise demand share

Below 500 500-1,000 1,000-1,500 1500-2000 2000-2500 Above 2,500

Budget wise demand share

(54%) and Gurugram (46%).

Below 5,000 5,000-7,500 7,500-10,000 Above 10,000

© 2023 magicbricks.com Page 4

Source: Magicbricks Research

BHK wise supply share

90% In terms of supply, among the 13 major

1 BHK 2 BHK 3 BHK Above 3 BHK

Cover Area wise supply share

Below 500 500-1,000 1,000-1,500 1500-2000 2000-2500 Above 2,500

Budget wise supply share

Below 5,000 5,000-7,500 7,500-10,000 Above 10,000

© 2023 magicbricks.com Page 5

Source: Magicbricks Research

Key Developers based on

5,500 Key Projects and Localities

Shaligram Prime South Bopal

4,000 witnessed a QoQ Vrindavan Godrej

RM vs UC QoQ Change In the

" RM segment and Mehemdabad be developed as

Source: Magicbricks Research

© m agicbricks .com P age 7

Source: Magicbricks Research

SG Highway and Bopal 2 & 3 BHKs continue to rule the roost

the most searched

BHK wise Average Price Change

Source: Magicbricks Research

QoQ Change In Average Rate

Average rates BHK-wise

1 BHK 2 BHK 3 BHK Above 3 BHK

3,900 4,400 5,300 7,400

Micro-Marketwise Rate Change for preferred localities

QoQ Change YoY Change

© m agicbricks .com P age 9

Source: Magicbricks Research

Top Micro-markets in the City

Satellite CG Rd Narol- Naroda Rd

Note: This map is not to scale.

Micro-markets with highest Demand Micro-markets with highest Supply

© m agicbricks .com P age 10

Source: Magicbricks Research

Key Developers based on

7,000 SOBHA Ltd.

8,500 Key Projects and Localities

PropIndex JAS'23 - Final

PropIndex JAS'23 - Final