FOREWORD

Indian economy remains strong despite headwinds facing the world economy and
geopolitical turmoil across Asia and Europe. The economy grew by almost 8% in
the JFM quarter and rising oil prices have not been able to affect it adversely. The
Manufacturing Purchasing Managers Index (PMI) has been rising for the last three
months, corporate earnings have improved and the country is expected to get
normal monsoon this year, supporting the economy.
However, high NPAs in the banking sector and construction delays in infrastructure
and real estate sector remain major concerns. The Real Estate(Regulation and
Development) Act, 2016, is a step in the right direction but will bear fruit only in
2-3 years. Till then the Indian real estate sector remains in turbulent waters, and its
health can only be gauged through inferential means like pricing and inflation in
the sector.
Price, as an end-product of interaction between the underlying demand and supply
elements, incorporates all the sector related imperfections like delays and surge/
dearth of transactions. Its trend also serves as a guidance to fiscal decision making
by the government and RBI, and investment decision making by private equity
funds and retail home buyers.
Real estate in each city is heterogeneous and each locality and project can be
mapped to different budget segments and geographies. Each budget segment
and geography corresponds to a certain share of supply and consumer preference
in the market.
Towards this end, Magicbricks presents a holistic price Index for each of the
14 major cities in India. The City Index reflects the price movement across localities,
geographies and budget segments in the city. This bottom-up approach helps to
identify factors affecting the demand-supply dynamics of the city.
Analysis of City Indices over a 2-year period shows that Navi Mumbai had the
highest gain of 17%, while New Delhi continued to face tough market with a
20.7% decline.
Regionally, Western India performed the best with 9.1% average gain, followed
by South with 5.7% increment. North India saw an average decline of 6.9%, while
Kolkata had the same average price as eleven quarters ago. It is important to note
that any gains made are eroded when benchmarked against inflation in economy,
in the study period.
Another important sign of our times is the 9.2% premium commanded by the
Ready-to-Move-in (RM) properties over the Under-Construction (UC) properties at
a pan-India level. This ratio was at 5.1% eleven quarters ago and is a reflection of
the falling consumer confidence in timely delivery of projects.
These are changing times and we would love to hear from you. Do write to us at
Sudhir Pai
Sudhir.pai@timesgroup.com and share your views on this report and how we could
CEO, Magicbricks.com
make PropIndex even better.
METHODOLOGY
Realistic price discovery has been the
biggest problem area in the Indian
real estate market. As consumers
and industry struggle to arrive at a
realistic benchmark pricing to assess
the true value of their individual units,
Magicbricks, as the largest repository
of residential property listings, brings
you the trusted Indian Apartment
Price Index in a new and easy to
use format. Mirroring the Indian
Real Estate scenario, this price index
presents an animated representation
of the real estate market.
Magicbricks publishes the quarter-on-
quarter inflation and deflation trends
of the residential real estate prices in
India. It collects real estate demand-
supply data on a daily basis for more
than 100 cities in India, of which, the
fourteen top cities are selected for
computing the National Property Price
Index.
The National Property Price Index and
its constituent indices are subjected to
a series of stringent steps.
Each quarter, Magicbricks measures
the individual property level price
changes, which are then aggregated at
the locality level. While comparing the
average pricing figures for the current
quarter and comparing with the
previous one, quarterly price changes
are calculated. These price changes are
further aggregated at the city level
and even further at an all-India level.
As the top receiver and aggregator
of residential demand, Magicbricks
data provides consumers with
realistic benchmarks to the assess
true property pricing. Where demand
exceeds supply, consumers have no
chance of negotiating values.
However, where demand is far lower
than supply, buyers can look for more
options and therefore, negotiate
pricing. If, on the other hand, you are
a seller looking for benchmark pricing,
you will effect the fastest sale if your
asking values are close to the buyers
paying power.
There are various co-relations of
demand and the overall real estate
market as well as its future potential.
Not only is demand a preceding
indicator to supply, it is also a fairly
good indicator of actual transaction
activity in the region.
We have aggregated the 14 cities
covered under the report into various
localities. While calculating the city
level property pricing indicator, we
have applied demand as weight to
each locality. This weight is equal to
the localitys share of the demand
being contributed to the citys total
demand. As a consequence, the
locality receiving higher demand for
residential units will be given a higher
weightage. Following that, each
citys price movement is calculated by
aggregating the price movements of
individual localities, according to their
individual weightages.
In terms of checks and balances
towards making the data and
analysis more robust and objective,
we have made sure that superfluous
information does not deviate the
desired results. Hence, we have
applied checks and balances at the
locality level listing data collection and
aggregation.
A statistical technique called Inter-
Quartile Range (IQR) has been used
to ensure that unintentional input
deviations of house size and price
figures, which may distort the actual
value of the house and corrupt the
analysis, are addressed. The technique
aims to remove the outlier data sets,
while securing the correct values.
The Interquartile Range technique
works through measuring variability
of each data set, while dividing the
data set into quartiles. The technique
measures the value of data points on
the first and third quartiles of the data
and calculates the difference between
the two.
This range, called IQR, gives the
effective extent of data set, while
removing the first 25% and the last
25%. Subsequently, a test is applied
to each of the values in the data set. If
a particular data lies within an IQR of
the first and third quartile values, then
that data is considered part of the data
set, otherwise not. The set of listing
values of each locality are statistically
cleaned.
Magicbricks, on an average, covers
more than 500 localities for Tier-I cities
of India. Yet for the sake of analysis,
we take only those localities where the
recipient demand is at least 0.05% of
the citys total demand. Only localities
with at least 50 actively traded
properties have been included in the
analysis. Following that process, we
shortlisted various localities which
in some sense, impact the pricing
dynamics of the city.
We then calculate the average prices of
the city for the quarter, while applying
demand weights to the average prices
of each locality. These average prices
at the city level are further aggregated
to the final outcome of the National
Price Index.
The difference in Under Construction
and Ready-to-Move-in property has
been assessed and included in the
report. Rental yield and affordability
too has been addressed for the top 10
localities by supply in every city. These
are critical tools which well used can
help with realistic price discovery.
 GLOSSARY & DEFINITIONS
1. City Property Index :This is a composite index which is a function of supply of properties as well as
the average capital appreciation/drop in various localities of the city in the quarter. The City Index is the
weighted average of the average rate per square foot in that locality and the supply of properties from
that locality. Localities with higher supply of properties will have a bigger impact on the Index.
2. Price trend basis budget segments: To better understand the citys price trend, the localities have
been divided into budget segments basis their capital value (Rs/sq ft). We have tracked the weighted
average price for each budget segment for a 2+ year period from quarter ending September 2013 to
quarter ending June 2016.
Subsequently, the movement of the localities in each price segment is mapped to derive respective
short term and long term price change trends. The number of budget segments vary according to the
city characteristics.
3. Zone wise distribution of localities: The various localities in the cities are all geographically divided
into five key regions: Northern, Southern, Eastern, Western and Central. The localities are analyzed at
the local zonal level to better understand the effect of the various drivers of price and demand, which
are active mostly at the zonal level rather than at the city level.
4. Zone wise distribution of property budget segments: To better understand how each of the
city zones contribute to the citys supply, and how they are able to provide housing at various price
points, the supply is distributed into budget segments across various geographic zones. For instance,
if a zone has most of its supply in the premium budget segment, then it naturally becomes a premium
destination within the city. The price changes within the various budget segments are also analyzed at
the zonal level to go to the depths of the price changes across the city and to easily contribute the price
changes to local factors.
5. Capital Value Tables (given in Annexures): This shows the actual range of prices within which
properties are available in each locality in the quarter. Prices are shown in Rupees per square foot basis,
these are the prevailing rates for properties in each locality.
6. Price trend Top 10 localities by consumer preference: This section presents the price trend of
the Top 10 localities in the city by consumer preference. These localities have the highest consumer
focus and assessment of price trend in these localities assists in understanding the prevalent and future
price trend in the city.
7. Price trend basis construction status: This Index looks at the movement in prices of Under
Construction (UC) and Ready-to-Move-in (RM) properties across localities in the city. It is a weighted
price index where weight is assigned to each locality basis its share in the consumer preference in the
city.
VOL 6, ISSUE 1; APR-JUN, FY 2016-17 propindex.magicbricks.com
[Apr-Jun 2016]
In line with general lack of activity in the
residential real estate market, the National
Property Index has remained stagnant at
the same level as in the last quarter, with
prices moving up by just 0.04%. This is in
continuation of the general trend of inactivity
observed in the market for the last many
quarters. NPI is the weighted average of
consumer preference share of 14 cities and
their individual City Index value.
[National Property Index]
l In Mumbai, 37% areas saw an average
price rise of 4.6%, pushing up Jan-Mar 2016
Index value by 1.4%. Balance 63% areas
saw price drop by 5.2%, pushing down the
Jan-Mar 2016 Index by 1.3%, leading to a
net rise of 0.2% in the quarter
On a quarter level, all regions of India inched
up marginally in terms of prices from the
last quarter. Although it cannot be said with
certainty that the prices have hit rock bottom
and will not fall any further, any downward
movement in prices going forward is going to
be restricted.
After falling consecutively in the Dec 2014
to Dec 2015 period, and improving a little
l In Navi Mumbai City 78% localities saw
an average price increase averaging 2%,
pushing up Index up by 1.5%. The balance
22% localities saw price drop of 3.8%,
pushing down the Index by 0.4%, leading to
a net increment of 1.1% in the quarter
last quarter, the North Indian region again
witnessed a 0.7% decline prices, with
Ghaziabad and Gurgaon falling more than a
percentage point.
On a two year scale, Western India did better
than all other regions, all cities where had
more than 8.5% price increment. The worst
performer was North region, where price
changes hovered between -20% to +5.5%.
l In Thane, 40% areas saw an average price
increase of 4.5%, pushing up Jan-Mar 2016
Index value by 0.56%. The balance areas
saw price drop of 3.8%, pushing down the
Jan-Mar 2016 Index by 1.9%, leading to a
net decrement of 1.35% in the quarter

l Bengaluru had 47% areas with average
price increase of 5.3%, pushing up Jan-Mar
2016 Index value by 1.45%. The balance
53% areas saw price drop, pushing down the
Apr-Jun 2016 Index by 1.3%, leading to a
net increment of 0.2% in the quarter
l Pune had 47% areas with average price
increase of 3.2%, pushing up Jan-Mar 2016
Index value by 0.9%. The balance 53% areas
saw average price drop of 5%, pushing down
the Jan-Mar 2016 Index by 1%, leading to
0.1% decline in the quarter
l Noida had 40% localities with an average
price increase, averaging 3.2% pushing up
Jan-Mar 2016 Index value by 0.6%. The
balance 60% localities saw price drop of
4.6% pushing down the Jan-Mar 2016 Index
by 0.9%, leading to a net decrement of
0.35% in the period
l Greater Noida had 47% areas with an
average price of 4.3% pushing up Jan-Mar
2016 Index value by 2%. The balance 53%
areas saw a price drop of 2.1% pushing
down the Jan-Mar 2016 Index by 0.9%,
leading to a net rise of 1.2% in the quarter
[Comparative regional performance]
T
he realty market in India can be broadly
divided into three geographical zones
North, South and West. While North
India covers the five constituent cities of the
National Capital Region (NCR), Western Zone
consists of cities in Mumbai Metropolitan
Region (MMR), Pune, and Ahmedabad.
propindex.magicbricks.com VOL6, ISSUE 1; APR-JUN, FY 2016-17
02
l Ghaziabad had 63% localities with an
average price decrease of 2.7% pushing
down the Jan-Mar 2016 Index value by
2.2%. The balance 37% localities saw price
increment of 2.4% pushing up the
Jan-Mar 2016 Index by 0.2%, leading to a
net decrement of 2% in the quarter
l New Delhi had one third the localities
witnessing price increase, averaging 2.7%
in the quarter. Compared to this, about two
third of the localities witnessed average
price decline of 2.6%. This led to decrease of
0.4% in the City Index for Apr-Jun 2016
l Gurgaon had 39% areas with an average
price, averaging 3.6%, pushing up the
Jan-Mar 2016 Index value up by 0.5%. The
balance 61% areas saw price drop by 3.4%,
pushing down the Jan-Mar 2016 Index by
1.2%, leading to a net decline of 0.6% for
Apr-Jun 2016 quarter
l Chennai had 59% localities with an average
price increase, averaging 3.7%, pushing up
the Jan-Mar 2016 Index value up by 1.5%.
The balance 41% localities saw price drop of
3.3%, pushing down the Apr-Jun 2016 Index
South Zone has the three important cities of
Southern India i.e. Bengaluru, Hyderabad and
Chennai.
Analysis of price index for each zone shows
that West as a whole has seen the highest
weighted average price increment from
by 0.5%, leading to a net increment of 1.1%
in the quarter
l Kolkata had 80% localities with an average
price increase, of 3.8%, pushing up Jan-Mar
2016 Index value by 2.6%. The balance
20% localities saw average price decrease
by 2.4%, pushing down the Jan-Mar 2016
Index by 0.1%. This led to a net increment of
2.4% in the City Index for Apr-Jun 2016
l Hyderabad had 80% localities with an
average price increase, of 3.8%, pushing up
the Jan-Mar 2016 Index value by 2.6%. The
balance 20% localities saw average price
decrease by 2.4% pushing down the Jan-
Mar 2016 Index by 0.1%, leading to a net
increment of 2.4% in the City Index for the
Apr-Jun 2016 quarter
l Ahmedabad had 52% areas with a price
increase of 3.2%, pushing up the Jan-Mar
2016 Index value by around 1%. The balance
48% areas saw average price drop of 2.3%,
pushing down the Jan-Mar 2016 Index by
1.8%. This led to a net 0.9% decrement in
the City Index value for Apr-Jun 2016
September 2013 to June 2016. This is followed
by the Southern zone, North zone comes last
as it has actually seen price decline in the
September 2013 to June 2016 period.
The constituent cities within each zone have
seen price movement basis inherent demand-
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
supply dynamics. While the weighted average
price movement in some of them is higher
than the zone average, the price level in other
cities has been on the lower side.
In the North zone, Greater Noida has been the
best performer in terms of price rise while
Delhi has seen a price decline. Noida comes
second in terms of price increment after
Greater Noida. The price level in Gurgaon has
remained stagnant. Both Delhi and Ghaziabad
have seen price decline with Delhi witnessing
a decline of 21% between September 2013
and Jun 2016. Ghaziabad saw a 7% decline
in the same period. In case of Greater Noida
and Noida, it is important to understand that
historic price levels in both the markets were
low, this is one of the main reasons for them
[Ready-to-Move-in (RM) versus Under Construction (UC)]
O
ne of the biggest challenges in the
current real estate market is lack of
consumer confidence in the market
and on the market players. Consumers
with purchase potential are hesitant to buy
properties. There are host of factors which
have which has led to this situation. For
example, there have been inordinate delay
in completion of projects with possession
deadlines getting shifted without any clarity.
propindex.magicbricks.com
03
witnessing highest price increment in
the zone.
The Southern zone has seen a 6% increment
in the price index in September 2013 to June
2016. With 8% increment, Hyderabad market
is the best performing in the zone. However,
it must be understood that Hyderabad market
was stagnant for quite some time and has
seen price increment over the last couple of
quarters. Bengaluru and Chennai markets
come second and third, respectively.
All the cities in the Western zone have seen
an increment in the price index with Navi
Mumbai witnessing the highest gain in the
study period. Navi Mumbai became a center
of fresh large scale development activity as
consumer demand spilled over from Mumbai
Projects have been stalled for lack of approvals
with consumers coming to know about the
matter only after having made the purchase.
Project delay leads to consumer having to bear
additional financial burden of paying rent over
and above applicable home loan instalments
for an extended period. And this is reflected
in the price differential between the Under
Construction (UC) and Ready-to-Move-in (RM)
properties. Magicbricks tracked the weighted
and Thane. Many prominent and high
consumer preference localities in Navi Mumbai
also started at low price levels.
This also partly explains the 17% increment in
price index between the September 2013 and
June 2016 period. While overall Mumbai price
index has seen some gain, the price trend has
been subdued for the last few quarters.
The price trend in Thane has also picked
up over the last few quarters. Pune and
Ahmedabad fall outside the MMR. While
the price index for the city has seen 10%
increment in the study period, the price level
has been stable or seen minimal movement
over the last six quarters. The movement in
price index for Ahmedabad market has been
lower than the average for the Western zone.
average price for UC and RM properties on a
pan-India basis covering 14 cities. It compares
the 2+ year trend from September 2013 to
June 2016 where September 2013 has been
taken as the base. It also shows the premium/
(discount) of Ready-to-Move-in properties
over Under Construction properties.
Our national level index for tracking pricing
of RM and UC properties shows that at a
pan India level, RM properties command an
average 9% premium over UC properties. This
level of premium for RM properties has held
for the last three quarters.
This price differential shows that the
consumers are wary of putting money into
the Under Construction properties, especially
when they are not sure of the delivery
timeline. In the current market scenario, a
consumer is likely to opt for Ready-to-Move-in
properties as this takes care of the delivery
risk.
 DELHI
[PROPINDEX - DELHI]
[Key Takeaways]
The City Index saw a 0.4%
decrement over the previous quarter
after climbing up by 1.6% in the last
quarter
In the Apr-Jun 2016 quarter, two
third of the localities witnessed an
average price decrement of 3.8%
while the remaining one third
localities witnessed price increase
The quarterly price movement data
shows that prices across four out of
nine budget segments existing in
Delhi improved from the last quarter
Fall in prices was witnessed in
almost all budget segments priced
above Rs 8,000 per sq ft. The price
decline in these budget segments
ranged between 0.7% and 2.5%
Government undertakes positive actions
D
elhi government has a deep-seated belief
in using small measures to bring a change
in the citys real estate. Infrastructure-
wise the city has accelerated its pace. The
opening of the Palwal-Manesar stretch of the
53-km Kundli-Manesar-Palwal Expressway
will give a fillip to the surface infrastructure
landscape in NCR. In particular it will benefit
the residential real estate micro markets in
close proximity. A Rs 1,000 crore worth approval
has come through from the Highways ministry
to clean up chronic traffic congestion at IFFCO,
Signature and Rajiv Chowk junctions on the
Delhi-Gurgaon Expressway.
On the Centres notification of the Transit
Oriented Development (TOD) policy for effective
city management, the Delhi Development
Authority has planned three TOD projects.
propindex.magicbricks.com
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VOL6, ISSUE 1; APR-JUN, FY 2016-17
In geographical terms, East Delhi
provides residential options to
buyers in the lower-mid and mid
segments. In terms of supply, East
Delhi hardly compares with South
and West Delhi and contributes only
13%. The region witnessed 0.5%
decrement on an average over the
last quarter
North Delhi, led by Rohini, provides
the least number of quality
residential home options and caters
to the budget and mid segment
residential buyers. Prices in the
North Delhi region also fell by 0.4%
in this quarter
In West Delhi area, where Dwarka
actually forms the bulk of the supply,
The problem of dust emission and waste
management will now be challenged by the
Centres Construction and Demolition Waste
Management Rules. These will stipulate proper
disposal and recycling of such waste; reduce
pressure on fresh resources; keep a check on air
pollution triggered by dust particles; etc.
Better connectivity, effective city management
and pollution-free environment the absolute
essentials of a Smart City should elevate
the quality of life of Delhi residents. While
mentioning Smart City, the Lutyens zone has
made it to the list of 20 cities to be turned into
Smart City.
The state government has asked citizens to
propose amendments for Section 81 of the
Delhi Land Reforms Act, 1954, which allows
here prices increased by 0.3% over
the last Jan-Mar 2016 quarter
South Delhi forms one fourth of the
citys supply and witnessed price
decrement of 0.7% in this quarter
Analysis across 68 key localities of
Delhi showed that on an average,
UC properties were priced equal to
RM properties in the Apr-Jun 2016
period
The average difference in prices of
UC and RM properties remained
stagnant over the quarter. The
weighted average price of RM
properties was Rs 10,644 per sq ft,
the same number for UC properties
was Rs 10,640 per sq ft
EDITORIAL
agricultural land to be used for industrial,
residential, commercial, warehousing, etc
purpose, after due permission to check misuse.
The South Delhi Municipal Corporation for the
first time has successfully collected Rs 650 crore
as property tax for the financial year 2015-
16. The amount is 19% more than last years
collection. It has also identified over 30,000
new taxpayers.
Apart from digitising applications of building
permits, the waiving of penalty for the
regularisation of flats in 26 cooperative group
housing societies in Dwarka are some other
positive developments.
It is safe to say that the government authorities
efforts have been successful in directly or
indirectly impacting Delhis real estate market.
Magicbricks Bureau
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
05
propindex.magicbricks.com DELHI

Geographical distribution of localities The map shows the geographical spread of

localities considered for calculating the City
South Delhi dominates the development landscape
Price Index. The localities have been grouped to
understand the zone wise price trend in the city
Delhi has had a more geographically dispersed
development compared to some of the other
prominent cities across India. Except the north
side, the city has concentrically grown across all
other directions
The city has historically grown in an
asymmetrical fashion and there are pockets
of residential developments between office
complexes, green areas and other places of
importance. Being the capital of India, Delhi
houses a lot more government complexes as
well as buildings of national importance. Delhi
has a significant percentage of rural areas on its
boundary. These areas include L Zone, N Zone,
P1 and P2 Zones, and J Zone
The localities considered for PropIndex account
for 77% of consumer preference and 67% of
actively traded properties in Delhi

The graph shows the distribution of

Properties distribution by capital value (Rs/sq ft) actively traded properties by their capital
Jan-Mar 2016 to Apr-Jun 2016 value. The properties are distributed over
a wide range dominated by entry level
budget segments. Although the range of
expensive properties available is in fact
wider than any other city in India except
Mumbai
In spite of such a wide range of available
properties, more than half of the citys
supply is concentrated in the Rs 3,000
-10,000 per sq ft
The budget segment, servicing the lower
middle class, with pricing in the range
of Rs 3,000-4,000 per sq ft forms 14% of
the citys supply
The budget segment servicing the
middle class, with pricing in the range of
Rs 4,000-8,000 per sq ft forms more than
one fourth of the citys supply.
The budget segment also has a wide
range of supply servicing the upper
middle class, with pricing between Rs
 DELHI
[CITY INDEX]
Jul-Sep 2013 to Apr-Jun 2016
The City Index for Delhi reflects the
price movement across 68 prominent
localities. These localities have been
chosen using the twin criterion of share
in overall consumer preference in Delhi.
The weight assigned to each locality is
propindex.magicbricks.com
06
VOL6, ISSUE 1; APR-JUN, FY 2016-17
8,000-10,000 per sq ft forms another one
sixth of the citys supply.
Properties costlier than Rs 10,000 per sq
ft forms a significant 40% of the citys
supply and reflects the buying poweress
of the population in the city
The western side of the city is
characterized by properties costing less
than Rs 12,000 per sq ft on an average
while North region of Delhi with areas
like Pitampura and Rohini, has supply in
the range of Rs 12,000-17,000 per sq ft
as well as Rs 4,000- 8,000 per sq ft
South Delhi is undoubtedly the costliest
region of the city, having high property
prices, except a few pockets like Mehrauli
and Chattarpur. All other micro-markets
have prices above Rs 10,000 per sq ft and
go upwards of Rs 26,000 per sq ft
The East side of the city, similar to the
West, has most of the properties costing
less than Rs 12,000 per sq ft on an
average
The City Index witnessed a 0.4%
decrement over the previous quarter. The
Jan-Mar 2016 quarter had more localities
with price decrease than price increase.
Around two-third of the localities
witnessed price decrement, pushing the
last quarter Index value down by 1.5%.
The balance one-third witnessed average
price increase of 2.7%
its share of consumer preference in the
city. This makes for a comprehensive
Index which covers localities with high
consumer preference as well as high
number of actively traded properties in
the secondary market
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
07
propindex.magicbricks.com DELHI

Budget wise price change To understand the contribution of various

budget segments and localities in the
Jan-Mar 2016 to Apr-Jun 2016 Index movement, we have grouped 68
localities under the Index
The quarterly price movement data
shows that prices across only four out of
nine budget segments improved, from
the last quarter. It was mostly witnessed
in the lower priced budget segments of
less than Rs 8,000 per sq ft
The fall in prices was witnessed in almost
all budget segments priced above
Rs 8,000 per sq ft. The price decline in
these budget segments ranged between
0.7% to 2.5%
The Price movement across zones:

East
East side of the city provides decent
residential options catering to lower and
mid segments, constituting 13% of the
citys supply. The prices moved up by
1.2% in this region
Here, one third of the supply was
Geographic and budget wise price change concentrated in the less than Rs 3,000
per sq ft and in the Rs 10,000-12,000 per
Jan-Mar 2016 to Apr-Jun 2016 sq ft budget range
Mayur Vihar, Sarita Vihar and Laxmi
Nagar are the key localities here with
average pricing of Rs 11,000, Rs 10,000
and Rs 3,000 per sq ft respectively

North
North Delhi provides least number of
quality residential options. Here, budget
and mid segment buyers are huge
Rohini sectors form a key fraction of the
supply in this region, with mostly DDA
developed residences
The Rs 12,000 -17,000 per sq ft budget
range here covers localities like
Pitampura and Rohini Sectors 9 and 13.
The Rs 4,000-8,000 per sq ft budget
range covers the Rohini sectors

West
In West Delhi, developments are
spanning for the last 15 years in the
 DELHI propindex.magicbricks.com
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VOL6, ISSUE 1; APR-JUN, FY 2016-17

Price change Top localities by consumer preference Dwarka area. It supports a whopping half
of the total supply for Delhi. The prices
Jan-Mar 2016 to Apr-Jun 2016 moved down by 0.3% in this region
With planned development of L-Zone,
there is potential growth in future. Most
of the supply in Dwarka sectors is in the
Rs 8,000-10,000 per sq ft range

South
South Delhi has well-planned
development that is making home
buyers own a home here
Most of the supply in these premium
localities starts at Rs 17,000 per sq ft and
goes upwards of Rs 30,000 per sq ft

Centre
Central Delhi contains the costliest
localities of all in the city, but the
amount of supply available for sale is
extremely limited as a significant portion
of the housing options available here
are in the government housing domain.
Anand Niketan is the key locality, with
an average price of Rs 35,000 per sq ft,
and has witnessed a price decline of 3%
in the last quarter. Prices moved down by
0.4% in this region

Price trend basis construction status

Jul-Sep 2013 to Apr-Jun 2016
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
09
propindex.magicbricks.com DELHI

The graph shows the trend in the prices
of Ready-to-move-in properties (RM)
and Under Construction (UC) properties. sq ft, the same number for UC properties
Analysis across 68 localities in Delhi
shows that on an average, UC properties
were priced equal to RM properties in the
Apr-Jun 2016 period
The average percentage difference in
the under construction versus ready-to-
move-in prices remained more or less
stagnant over the last quarter. While
the weighted average price of Ready-to-
move-in properties was Rs 10,644 per
was Rs 10,640 per sqft
The average price of both UC and RM
properties decreased this quarter, with
1.3% decrease in UC properties and 0.7%
decrease in RM properties
In terms of cumulative price change, RM
properties posted a price decline of 13%
over the Sep 2013 to Jun 2016 period,
while the price of UC properties moved
down by 24% in the same period
The graph below shows price trend in
the top 10 localities in Delhi by consumer
preference. The prices have moved in the
location between -5% to +5% range in
the last quarter for these key localities of
the city.

Price change basis construction status

Top localities by consumer preference in Apr-Jun 2016 period
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
10
propindex.magicbricks.com DELHI

Capital values and price change key localities

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD
Anand Niketan 15270-47570 -3.2% 13200-105600 1.74%
Chhattarpur 2380-6340 4.4% 13200-21600 4.03%
Chittaranjan Park 7630-24370 0.0% 16800-50400 2.10%
Defence Colony 17400-45000 -3.3% 14400-98400 1.80%
Dwarka Sector 3 6000-10690 -1.9% 12000-19200 1.87%
Dwarka Sector 4 5760-10580 -2.7% 12000-20400 1.94%
Dwarka Sector 5 6000-10150 -3.1% 13200-18000 1.89%
Dwarka Sector 6 6120-10550 -2.9% 13200-18000 1.88%
Dwarka Sector 7 5660-10660 -2.4% 12000-20400 1.95%
Dwarka Sector 9 6300-10400 -2.0% 12000-20400 1.97%
Dwarka Sector 12 6000-10660 -2.8% 12000-20400 1.97%
Dwarka Sector 13 6240-9810 -2.7% 12000-20400 1.97%
Dwarka Sector 18 6160-10830 -1.1% 12000-20400 1.85%
Dwarka Sector 19 5890-10600 -0.4% 12000-20400 1.88%
Dwarka Sector 22 6310-10830 -2.6% 14400-19200 1.96%
Dwarka Sector 23 5810-10000 4.5% 12000-20400 2.01%
East of Kailash 11480-29580 2.5% 12000-56400 1.65%
Govindpuri Main 3040-6110 5.0% 9600-22800 3.42%
Greater Kailash 1 10370-29310 -2.2% 21600-58800 2.00%
Greater Kailash 2 10680-30900 -3.5% 18000-58800 1.82%
Green Park 11200-33010 -3.9% 15600-60000 1.70%
Gulmohar Park 15950-44900 -3.8% 20400-64800 1.60%
Hauz Khas 12080-33330 -3.3% 16800-60000 1.67%
Indraprastha Extension 7730-14830 -1.5% 18000-26400 1.96%
Janakpuri 6400-15270 -2.7% 15600-30000 2.00%
Kailash Colony 9660-27000 -3.5% 22800-52800 2.11%
Kalkaji 5550-22000 -3.9% 15600-42000 2.05%
Laxmi Nagar 2000-9250 5.0% 13200-32400 4.05%
Mahavir Enclave Part 1 3810-6360 -0.2% 12000-19200 3.07%
Malviya Nagar 5000-16660 0.5% 21600-40800 2.86%
Mayur Vihar 1 4900-20000 4.9% 14400-37200 2.08%
Mehrauli 2220-6830 2.7% 13200-25200 4.30%
Moti Nagar 9820-13800 0.2% 14400-24000 1.60%
New Ashok Nagar 2290-5350 0.3% 13200-22800 5.00%
New Friends Colony 6560-33000 -5.0% 10800-56400 1.63%
Om Vihar 2760-5840 -3.0% 14400-18000 3.69%
Panchsheel Enclave 13620-34480 -1.5% 16800-61200 1.67%
Panchsheel Park 10560-46290 -5.0% 15600-78000 1.60%
Pandav Nagar 4660-9370 5.0% 13200-28800 3.21%
Paschim Vihar 6000-15510 -3.8% 12000-27600 1.94%
Patparganj 7460-15200 3.1% 18000-26400 1.97%
Pitampura 6380-16660 0.2% 13200-32400 1.98%
Rajouri Garden 7000-13880 3.5% 15600-34800 2.35%
Rohini Sector 9 7500-18210 -2.9% 18000-30000 1.91%
Rohini Sector 13 8140-17500 -0.8% 19200-27600 1.90%
Rohini Sector 24 5130-9430 1.8% 14400-24000 2.47%
Rohini Sector 25 4540-7700 1.2% 15600-16800 2.67%
Safdarjung Development Area 10550-44440 3.3% 19200-86400 1.72%
Safdarjung Enclave 10740-34610 2.6% 18000-62400 1.75%
Saket 10310-24430 3.4% 7200-54000 1.67%
Sarita Vihar 7370-12800 -2.1% 16800-25200 2.08%
Shahdara 2680-9090 5.0% 14400-21600 3.11%
South Extension 2 9700-29030 -4.7% 21600-60000 2.18%
Uttam Nagar 2660-5220 -1.5% 13200-18000 4.08%
Vasant Kunj 8570-18330 0.8% 19200-40800 2.26%
Vasant Kunj Sector D 9180-15620 -3.1% 19200-38400 2.37%
Vasant Vihar 8500-52670 -3.2% 16800-111600 1.83%
Vasundhara Enclave 6120-12570 -2.5% 15600-27600 2.32%
Vikaspuri 5660-13070 0.1% 13200-25200 1.99%
 GURGAON
[PROPINDEX - GURGAON]
[Key Takeaways]
The City Index saw a 1% decline over
the last quarter. The Apr-Jun 2016
quarter had more localities with
price decline than price rise
In the Apr-Jun 2016 quarter 39%
localities saw an average price rise
of 3.6% while the balance 61%
localities saw price drop by 3.4%
Price movement across most budget
segments has been negative with
maximum decline being in the
luxury segment of Rs 14,000-18,000
per sq ft. Only Rs 4,000-5,000
budget segments in the city saw
marginal price increase of under 1%
in the last quarter. Average price
decline in other budget segments
was under 1%
Gurgaon concentrates on infrastructure issues
I
n order to boost real estate transactions in
the Gurgaon market, Haryana governments
decision to bring down circle rates by
15% was welcomed by both the developer
community as well as the buyers. The
government is also freeing certain pockets of
land for infrastructure development. As per the
new Master Plan-2031 for Gurgaon-Manesar,
land reserved for SEZs has been annulled and
will now be allotted for housing projects, malls,
hotels and office complexes. It focusses on
non-grant of licences on certain land patches in
the Gurgaon-Manesar Urban Complex (GMUC),
de-freezing of the SEZ Zone, and relaxation for
development of TP (town planning) scheme in
Sector 16, Gurgaon.
Better connectivity is the dire need of Gurgaon.
Apart from NPR and SPR, three major roads,
propindex.magicbricks.com
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VOL6, ISSUE 1; APR-JUN, FY 2016-17
In geographical terms, North
Gurgaon, consisting of a few
localities along the northern stretch
of Dwarka Expressway, had the
highest price decline of 1.9%
Price level in core Gurgaon,
consisting of localities/sectors along
and between Golf Course Road,
Golf Course Extension Road, Sohna
Road and various phases of DLF, was
either stagnant or saw a decline
New developing sectors along the
Dwarka Expressway and New Town
Gurgaon had a mixed quarter. Price
in some sectors saw an increment
while it declined in others
Analysis across 73 localities shows
that on an average, Ready-to-
connecting Delhi and Gurgaon, like Vasant Kunj
to MG Road, among others are in the pipeline.
Intra-city Metro in Gurgaon, Sector 56 and
Sikanderpur and a high-speed Metro service
for the Airport Express Link between Sector
21, Dwarka and IFFCO Chowk have also been
planned.
More than 560 houses in New Palam Vihar,
Tekchand Nagar and Kherki Daula on NPR, also
known as Dwarka Expressway, and nearly 40
houses in Rambir Ki Dhani on SPR are coming
in the way of completion of these two road
projects.
To beat traffic congestion, HUDA is also trying
to expedite the land acquisition process at CPR,
which will connect SPR with NPR, to ensure
smooth flow of traffic. A Rs 1,000 crore worth
Move-in properties were 11% more
expensive than Under Constuction
properties in the Apr-Jun 2016
quarter
The average difference in prices has
declined by 100 basis points from
12% in the Apr-Jun 2016 quarter.
While the weighted average price of
Ready-to-Move-in properties was
Rs 8,296 per sq ft, the same number
for Under Constuction properties
was Rs 7,502 per sq ft
The average price of both Ready-
to-Move-in and Under Constuction
properties has declined over the
last quarter by 1.2% and 0.2%,
respectively
EDITORIAL
approval has come through from the Highways
Ministry to clean up chronic traffic congestion
in IFFCO, Signature and Rajiv Chowk junctions
on the Delhi-Gurgaon Expressway. Not just
roads, HUDA is busy facilitating regular supply
of water to upcoming sectors such as 68-80.
However, there has been a hiccup as the body
delayed allotment of alternative plots to land
owners in Fazilpur-Jharsa village who were
vacating their properties for the same and for
the construction of a 3-km stretch on SPR.
Haryana is uploading project information online
for better clarity. Some of the details which the
public can easily access are names of developers
to have received licenses by DTCP; approved
number of towers, units in a project; number
of units sold to buyers; details of payment
collected from home buyers, etc.
Magicbricks Bureau
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
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propindex.magicbricks.com GURGAON

Geographical distribution of localities The map shows the geographical spread of

Western zone accounts for most of the new development activity localities considered for calculating the City
Price Index. The localities have been grouped
together to understand the zone wise price
trend in the city
Development in Gurgaon can be divided
into two broad halves which are on either
side of NH-8. Central, South and East zones
consist of established residential areas, where
development activity is still under progress.
These projects are likely to be delivered over
the next couple of years
The western zone which is east of NH-8 consists
primarily of sectors with under construction
projects. Few projects have been delivered.
The main driver for this zone is the Dwarka
Expressway/Northern Peripheral Road which
will provide connectivity to Delhi
The North zone consists of a few residential
areas on the Gurgaon-Delhi border and along
the northern end of Dwarka Expressway

Properties distribution by capital value (Rs/sq ft) This graphs shows the distribution
of actively traded properties by their
Jan-Mar 2016 to Apr-Jun 2016 capital value. This distribution shows the
expensive nature of real estate in the
Gurgaon market
The entry level budget segments are
equivalent to the mid-level budget
segments in most other cities. Supply in
the city is evenly distributed across its
entry and mid budget segments. Further
it was noted that the dominant budget
segment by supply was not the lowest
budget segment of the city
The largest budget segment with 30%
share is the Rs 7,0008,000 per sq ft. The
two lowest budget segments within
Rs 4,0006,000 per sq ft account for 31%
share of supply in Gurgaon
Unlike other cities, the overall price
movement in the city will be determined
equally by its mid-budget segments as
well as by the lower budget segments
 GURGAON
[CITY INDEX]
Jul-Sep 2013 to Apr-Jun 2016
The City Index for Gurgaon reflects the
price movement across 73 prominent
localities. These localities have been
chosen using the twin criterion of
share in overall consumer preference
in Gurgaon as well as share of actively
propindex.magicbricks.com
13
VOL6, ISSUE 1; APR-JUN, FY 2016-17
The geographical spread of budget
segments show that the western zone
with large scale development activity
has properties primarily in the
Rs 4,000-6,000 per sq ft price bracket
with the Rs 4,000-5,000 per sq ft being
the dominant sub-segment
The East zone comprises primarily of
established residential areas in the
mid to premium segments. Even fresh
development in this zone is in the
higher budget segments. This includes
prominent localities like Golf Course and
Golf Course Extension Road and various
DLF phases. The premium Rs 12,000-
18,000 per sq ft price range falls within
this zone
The South zone has a mix of established
and under-construction residential
localities. It covers the price range from
Rs 4,000-10,000 per sq ft
Together, the South and East zones
presently account for 72% share of
consumer preference
The City Index saw a 1% decline over the
last quarter. The Apr-Jun 2016 quarter
had more localities with price decline.
At least 39% localities saw an average
increase of 3.6%, pushing up the Jan-
Mar 2016 Index marginally. The balance
61% localities saw prices drop by 3.4%,
pushing down the Jan-Mar 2016 Index
by 1.2% leading to a net decline of 1% in
the City Index for Apr-Jun 2016 quarter
traded properties. The weight
assigned to each locality is its share of
consumer preference. This makes for a
comprehensive Index covering localities
with high consumer preference and high
number of actively traded properties
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
14
propindex.magicbricks.com GURGAON

Budget wise price change To understand the contribution of various

budget segments and localities in the
Jan-Mar 2016 to Apr-Jun 2016 Index movement, we have grouped 73
localities under the Index into budget
segments on the basis of their capital
values. A further micro picture of price
movement is presented by looking at
price change across different geographies
and their constituent budget segments
Price movement across most budget
segments has been negative with
maximum decline being in the luxury
Rs 14,000-18,000 per sq ft segment.
Only the Rs 4,000-5,000 per sq ft budget
segments in the city saw marginal price
increase of under 1% in the last quarter.
Average price decline in other budget
segments was under 1%.
The price trend in a given budget
segment varied depending on the zone.
Price movement across zones:
East
On an average, price in the eastern
zone of the city declined by about 1%.
Geographic and budget wise price change Except for the Rs 9,000-10,000 per sq ft
segment which saw 1% price increment,
Jan-Mar 2016 to Apr-Jun 2016 all other budgets saw a price decline
Highest decline of 5% was in the
Rs 14,000-18,000 per sq ft segment
centred at Sector 42. Other prominent
and high demand localities in the zone
like Golf Course Road, Golf Course Road
Extension, Sushant Lok 1 and Sector 56
also saw a decline in prices from
1% to 3%
North
Prices in localities in this zone either
declined or remained stable
Price level in Palam Vihar, which is the
most important locality, declined by
3.6% over the previous quarter
West
West zone is being marketed as New
Gurgaon. Price trend in this zone was
in-line with market average for the
Rs 4,000-6,000 per sq ft price bracket.
This was the only zone with some
average increment in the price level.
 GURGAON propindex.magicbricks.com
15
VOL6, ISSUE 1; APR-JUN, FY 2016-17

Price change Top localities by consumer preference About 70% sectors in this zone saw an
increase in price. Most of the price gain
Jan-Mar 2016 to Apr-Jun 2016 was in the Rs 4,000-5,000 price bracket
Major sectors like sector 37C, 37D, 81 and
92 had price increase from 1% to 4%
South
The southern zone saw marginal price
decline over the last quarter. This was
because apart from the Rs 7,000-8,000
per sq ft budget, all other segment in the
zone saw price decline
The price increment in the Rs 7,000-
8,000 per sq ft segment was because of
3% price rise in high demand locality like
Sohna Road
Lower budget segment in the Rs 4,000-
6,000 per sq ft price bracket had the
highest decline of 1% to 1.2%
Centre
The price level in localities in this
zone was either stagnant or declined
as compared to the last quarter. The
average price decline in the zone was 1%
Important localities/sectors like South
City-2, Malibu Town and Sector 51 fall in
prices in 1%-3% range

Price trend basis construction status

Jul-Sep 2013 to Apr-Jun 2016
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
The graph shows the trend in prices of
Ready-to-Move-in properties (RM) and
Under Construction (UC) properties.
Analysis across 73 localities shows that
on an average, RM properties were 11%
more expensive than UC properties in the
Apr-Jun 2016 quarter
The average difference in prices has
declined by 100 basis points from 12%
in the Apr-Jun 2016 quarter. While the
Price change basis construction status
Top localities by consumer preference in Apr-Jun 2016 period
16
propindex.magicbricks.com
weighted average price of RM properties
was Rs 8,296 per sq ft. The same number
for UC properties was Rs 7,502 per sq ft
The average price of both RM and UC
properties has declined over the last
quarter by 1.2% and 0.2%, respectively
In terms of price increase, UC properties
posted a price decline of 4% over the Sep
2013 to Mar 2016 period, while the price
of RM properties increased by 4% during
GURGAON
the same period. The price movement
in case of both RM and UC properties
worsened due to decline over the last
quarter
As the graph shows price trend in the
top 10 localities by consumer preference.
While equal number of localities
had price rise or drop of RM and UC
properties, more localities had higher
price increase for RM properties
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
17
propindex.magicbricks.com GURGAON

Capital values and price change key localities

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD
Ardee City 4870-8950 1.9% 10800-28800 2.67%
Dwarka Expressway 2390-8400 -1.6% 7200-15600 2.29%
Golf Course Extension Road 6970-10150 -0.6% 9600-28800 2.26%
Huda Colony 5280-9370 -2.8% 14400-27600 2.79%
MG Road 9800-13700 -0.5% 18000-46800 2.65%
Malibu Town 4750-11110 -3.0% 10800-28800 2.64%
Manesar 2900-5820 3.8% 7200-20400 2.78%
Nirvana Country 5760-10290 -1.4% 14400-26400 2.47%
Nirvana Country Pocket H 5740-10400 0.3% 15600-24000 2.37%
Palam Vihar 4930-10000 -3.6% 9600-25200 2.34%
Sector 31 8660-12330 1.8% 9600-36000 2.11%
Sector 33 5820-9550 4.4% 14400-26400 2.59%
Sector 37C 3210-5650 1.3% 7200-12000 2.18%
Sector 42 10010-18120 -5.0% 16800-54000 2.30%
Sector 43 4800-13750 1.0% 12000-27600 2.44%
Sector 45 4360-10320 -3.0% 9600-27600 2.73%
Sector 46 4390-10880 0.2% 13200-25200 2.54%
Sector 47 4930-12320 0.2% 13200-28800 2.39%
Sector 47 Block A 6590-11930 0.9% 13200-28800 2.39%
Sector 48 6760-11170 -1.6% 10800-33600 2.35%
Sector 49 6770-10450 0.5% 13200-28800 2.38%
Sector 51 5220-9820 -2.9% 12000-24000 2.37%
Sector 52 3570-10410 -2.9% 7200-38400 2.99%
Sector 53 8490-16630 1.0% 19200-34800 2.07%
Sector 54 7630-17750 -3.7% 12000-45600 2.03%
Sector 56 4840-8960 -2.7% 12000-24000 2.53%
Sector 57 4640-9810 0.0% 10800-26400 2.49%
Sector 58 8080-11690 0.9% 16800-25200 2.07%
Sector 61 7500-9370 -0.7% 14400-26400 2.40%
Sector 62 6530-9520 -1.2% 14400-22800 2.43%
Sector 65 4280-11110 2.6% 16800-30000 3.04%
Sector 66 6510-9490 -0.3% 13200-25200 2.33%
Sector 67 4850-9500 -1.0% 10800-22800 2.14%
Sector 68 3980-7540 -3.3% 16800-16800 2.86%
Sector 69 4580-6640 0.0% 10800-24000 2.85%
Sector 71 5200-7630 2.7% 10800-19200 2.32%
Sector 72 5690-8400 -0.2% 15600-19200 2.58%
Sector 78 3900-7210 0.0% 9600-12000 2.00%
Sector 81 3700-6370 2.3% 7200-14400 2.08%
Sector 81A 3530-6920 3.6% 8400-13200 2.15%
Sector 82 3140-7340 -3.1% 7200-13200 2.00%
Sector 82A 3250-7060 -3.8% 8400-13200 2.04%
Sector 83 3900-6190 -1.1% 7200-10800 2.00%
Sector 84 3150-5510 -3.1% 22800-28800 4.00%
Sector 85 3550-5670 0.9% 7200-12000 2.14%
Sector 86 3820-5470 1.2% 8400-9600 2.00%
Sector 89 3390-6650 -4.6% 8400-14400 2.27%
Sector 92 2800-7020 3.9% 7200-12000 2.08%
Sohna 2030-5850 -5.0% 13200-33600 4.00%
Sohna Road 2860-11950 2.9% 12000-31200 2.75%
South City 1 5670-13880 -1.2% 18000-36000 2.78%
South City 2 3770-11500 -4.4% 10800-30000 2.72%
Suncity 5660-16890 -2.8% 12000-42000 2.30%
Sushant Lok 1 5550-12250 -2.8% 12000-44400 3.06%
Sushant Lok 2 4020-10400 3.0% 10800-26400 2.54%
Sushant Lok 3 4700-8920 -3.6% 13200-20400 2.34%
Uniworld Resorts 8070-10990 -3.2% 18000-28800 2.40%
Uppal Southend 4280-10000 -2.5% 14400-22800 2.62%
Vatika City 7910-10370 -0.2% 15600-27600 2.32%
 NOIDA
[PROPINDEX - NOIDA]
[Key Takeaways]
The City Index saw a 0.35%
decrement over the previous quarter
as more localities saw price decline
than the last quarter
In the Apr-Jun 2016 quarter, 60%
localities saw an average price
decrease, averaging 4.6% while the
balance 40% saw prices increase by
3.2% on an average
Price movement across budget
segment was marginal, but one
segments witnessed price decline.
Price movement was seen in the
Rs 5,000-6,000 per sq ft segment,
which saw 1.3% decline in prices.
The Rs 6,000-7,000 per sq ft was the
only budget segment witnessing a
price rise, also averaging 1.3%
Mute market scenario remains the concern
W
ith the largest volume of unsold
inventory stacked in the region, the
natural course of action did take
place. Quoted prices dipped bringing in the
time correction factor. Developers seem to have
given in to the price resistance to boost sales.
For an end-user this may be a good time with
attractive discounts and deals floating in the
market like no pre-EMIs, customized payment
plans, free maintenance up to a year, assured
rentals and even assured possession or money
back schemes.
With RERA around the corner, builders are also
gearing up to ensure timely delivery rather than
launch new ones. This explains the sharpest
decline in the number of new launches in NCR
to the tune of 50% in the first half of the year.
Moreover, consumers are also shifting focus
propindex.magicbricks.com
18
VOL6, ISSUE 1; APR-JUN, FY 2016-17
Overall, the price change varied from
low of -1.3% to a maximum of 1.3%
In geographical terms, the Eastern
zone, which accounted for 8% of the
citys supply, had prices moving up
by 0.4% this quarter
Western zone in Noida, consisting of
prime residential localities, with an
average price of over Rs 6,000 per sq
ft, witnessed prices falling by 1%
The North zone in Noida, which
accounts for more than 50% of
consumer preference had stagnant
prices over the quarter
Analysis across 35 localities in Noida
showed that on an average, Ready
to-Move-in (RM) properties were
13% more expensive than Under
to ready-to-move-in units or those that are
nearing completion. Increase in land allotment
rates will further put a check on new launches
because developers are cash-strapped.
Those who are unable to complete their
projects within a set time can now surrender
the land to the authority which can fetch them
70% of the deposit value. This would help
financing the completion after which a fresh
allotment process can be initiated.
Meanwhile, the focus of buyers is largely the
affordable segment. Although there is enough
inventory in this budget, sales velocity is
expected to remain muted for the little longer.
This works well for builders with a good and
clean track record as well as end-users who get
to identify quality amidst the quantity. Office
Construction (UC) properties in
the Apr-Jun 2016 period, which is
slightly higher than normal. This
shows that consumers continue
to face development risk with UC
projects and prefer RM properties
The average difference in the prices
of UC and RM properties remained
at the same level as in the Jan-Mar
2016 quarter. The weighted average
price of RM properties was Rs 5,351
per sq ft and for UC properties it was
Rs 4,746 per sq ft
The average price of both RM and UC
properties fell from the last quarter,
with UC prices falling by 0.7% and
RM prices falling by 1.1%
EDITORIAL
space absorption is also healthy helping Noida
retain the image of an investible destination.
Will buying a home in Noida become costlier
in the future will be decided by a survey
undertaken by the Gautam Budh Nagar district
administration. It has decided to carry out the
annual revision of the circle rates.
Noida authority is also going tech and aims
to roll out details of properties, allotment
letters, transfer of memorandums, occupancy
certificates and more online. This will address
consumer concerns a lot more transparently.
On the whole, researchers have noticed that
at the current pace of sales, it may be difficult
to exhaust the already existing inventory in
the Noida market. Both buyers and sellers are
waiting for respite.
Magicbricks Bureau
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
19
propindex.magicbricks.com NOIDA

Geographical distribution of localities This map shows the geographical spread of

North zone accounts for bulk of supply in the secondary market localities considered for calculating the City
Price Index. The localities have been grouped
together to understand the zone wise price
trend in the city

New developments in Noida have taken place

primarily in two directions - one along the
Noida-Greater Noida Expressway towards
south-east and another in the easterly direction
along and off the road connecting it to Greater
Noida

The North zone in the map corresponds to new

development in the easterly direction of the
city. While areas in the Center, South and East
zones corresponds to sectors along and off the
Noida Expressway, the center of the map is not
the same as the Central Business District/core
areas of the city

Localities in the west, towards the top of the

map, are the core areas of the city which are the
most prime areas of Noida

Property distribution by capital value (Rs/sq ft)

Jan-Mar 2016 to Apr-Jun 2016
The adjacent graph shows the
distribution of actively traded properties
by their capital values. When compared
to other prominent constituents of the
National Capital Region (NCR), Noida is
the affordable destination of the region.
It is also the biggest residential real
estate market of NCR
With almost 74% of the secondary
market inventory in the Rs 4,000
6,000 per sq ft range, the supply is
concentrated in a narrow price segment
A typical 1200 sq ft home in Noida will
cost between Rs 48 - 72 lakh. This price
segment also comprises more than 80%
share of consumer preference in the city
The higher budget segments have
smaller share of the secondary market.
These premium localities are situated
adjacent to the central business district
 NOIDA
CITY INDEX
Jul-Sep 2013 to Apr-Jun 2016
The City Index for Noida reflects the
price movement across 35 prominent
localities. These have been chosen using
the twin criterion of share in the overall
consumer preference as well as share of
actively traded properties. The weight
propindex.magicbricks.com
20
VOL6, ISSUE 1; APR-JUN, FY 2016-17
Given the development pattern of Noida,
sectors or localities situated towards the
south, along and off the Noida-Greater
Noida Expressway or towards east along
access road to Greater Noida West,
account for most of the supply
The supply in the entry level budget
of Rs 3,000-4,000 per sq ft segment is
concentrated primarily in the North zone
located along and off the Noida-Greater
Noida link road towards the east of
city center. A few sectors in the South
zone, located towards the end of Noida
Expressway, also have options in this
budget segment
The dominant Rs 4,000-6,000 per sq ft
price range is again concentrated in the
North zone, being equally distributed
between the Rs 4,000-5,000 per sq ft and
Rs 5,000-6,000 per sq ft segment
The higher priced budget segment of
Rs 6,000-1,000 per sq ft is concentrated
in the West and Central zones of the city
The City Index saw a 0.35% decline over
the previous quarter. The Apr-Jun 2016
quarter had less localities with price rise
than price decline. Around two third
localities witnessed price decrement,
pushing the Jan-Mar 2016 Index value
down by around 1%. The balance one
third of the localities, which witnessed
average price increase, pushed up the
Index by around 0.6%
assigned to each locality is its share of
preference in the city. This makes for
a comprehensive Index which covers
localities with high consumer preference
as well as high number of actively traded
properties in the secondary market
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
21
propindex.magicbricks.com NOIDA

Budget wise price change To understand the contribution of various

budget segments and localities in the
Jan-Mar 2016 to Apr-Jun 2016 Index movement, we have grouped 35
localities under the Index into budget
segments on the basis of their capital
values
Price movement across most budget
segments has been marginal but on the
negative side. The Rs 6,000-7,000 per sq
ft was the only budget segment, which
witnessed a price increase this quarter,
amounting to 1.3%. The maximum price
decline was witnessed in the Rs 5,000-
6,000 per sq ft and Rs. 7,000-11,000 per
sq ft segments, by more than 1%
The price trend in a given budget
segment witnessed some variations
across different zones of the city
Price movement across zones:
East
The region majorly consists of houses in
the Rs 5,000-6,000 per sq ft category,
with the Rs 4,000-5,000 per sq ft
Geographic and budget wise price change category forming the rest
Jan-Mar 2016 to Apr-Jun 2016 This region accounted for 8% of the citys
supply and prices here moved up by
0.4% this quarter
North
North zone is important as it accounts for
over 50% share of preference and supply
in the secondary market
Prices across all budget segments
marginally increased in the quarter,
moving up by 0.1% on an average
The region is dominated by the Rs 4,000-
5,000 per sq ft and the Rs. 5,000-6,000
per sq ft categories, of which, the former
moved up 0.5% while the latter moved
down by 1.2%, in terms of average
pricing
West
The price trend in the West zone was
negative for two out of three budget
segments present here
 NOIDA propindex.magicbricks.com
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VOL6, ISSUE 1; APR-JUN, FY 2016-17

Price change Top localities by consumer preference In theRs 6,000- 7,000 per sq ft segment,
price rise of 3.6% was witnessed in this
Jan-Mar 2016 to Apr-Jun 2016 region, while the city price average fell
by 0.35%
Overall, the region accounted for 8%
of the citys residential supply and
witnessed a fall of 0.9% in its prices
South
The South region of Noida forms the
second largest region for residential
supply in the city and witnessed a visible
fall of 1.2% in the average prices
The southern region majorly consists of
supply in the affordable segments of
Rs 3,000-4,000 per sq ft and Rs 4,000-
5,000 per sq ft, where prices fell by 3.1%
and 2%, respectively
Centre
Properties in the Central region start at
Rs 4,000 per sq ft and go upwards of
Rs 11,000 per sq ft. This region formed
6% of the citys supply and witnessed a
fall of 0.9% in its prices on an average

Price trend basis construction status

Jul-Sep 2013 to Apr-Jun 2016
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
23
propindex.magicbricks.com NOIDA

The graph shows the trend in the prices
of Ready-to-Move-in properties (RM)
and Under Construction (UC) properties.
Analysis across 35 localities shows that
on an average, RM properties were 13%
more expensive than UC properties in the
Apr-Jun 2016 quarter
The average difference in prices of UC
and RM properties remained stagnant
over the quarter. While the weighted
average price of RM properties was Rs
5,351 per sq ft, the same number for UC
properties was Rs 4,935 per sq ft
The average price of RM properties fell by
1.1%, while that of UC properties fell by
0.7% in the last quarter
In terms of price change, UC properties
posted a price decrement of 2% over the
Sep 2013 to Jun 2016 period, while the
price of RM properties saw a decline of
13%. The reducing prices is attracting
home buyers to the city, thereby, further
increasing sales
The graph below shows, price trend
in the top 10 localities in Noida by
consumer preference. It shows that while
equal number of localities had price
decline for both RM and UC properties,
the price decline in the case of UC
properties was generally higher

Price change basis construction status

Top localities by consumer preference in Apr-Jun 2016 period
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
24
propindex.magicbricks.com NOIDA

Capital values and price change key localities

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD
Kendriya Vihar 2 4600-6440 -1.0% 7200-21600 2.45%
Noida Greater Noida Express Way 2350-7000 -1.1% 10800-20400 3.33%
Sarafabad 2250-3630 2.5% 10800-18000 4.00%
Sector 29 5000-10280 -3.3% 12000-27600 2.66%
Sector 34 5580-8570 2.7% 16800-24000 3.02%
Sector 37 3520-11530 -0.3% 10800-33600 2.87%
Sector 44 2330-13580 -5.0% 14400-30000 3.47%
Sector 45 3480-8530 3.6% 13200-21600 2.75%
Sector 49 2900-4000 -2.9% 12000-19200 4.00%
Sector 61 4820-9370 -2.3% 14400-22800 2.55%
Sector 62 3710-7400 -1.8% 12000-20400 2.74%
Sector 73 2460-3550 2.2% 12000-14400 4.00%
Sector 74 4380-5340 0.1% 10800-15600 2.75%
Sector 75 3440-5800 -0.9% 13200-14400 2.94%
Sector 76 4120-5600 0.2% 12000-16800 2.92%
Sector 77 4130-6490 -2.2% 12000-16800 2.66%
Sector 78 3940-6800 0.4% 12000-16800 2.76%
Sector 82 3660-6940 -3.9% 10800-19200 2.78%
Sector 93 3550-8800 -2.5% 10800-21600 2.62%
Sector 93A 2880-11580 2.7% 9600-27600 2.47%
Sector 93B 5010-10620 -2.6% 15600-24000 2.52%
Sector 119 3900-6050 1.1% 9600-16800 2.57%
Sector 121 2000-6220 5.0% 12000-19200 3.69%
Sector 128 4080-9900 2.1% 14400-19200 2.41%
Sector 129 3500-5320 -2.1% 10800-14400 2.88%
Sector 134 3450-5090 2.1% 10800-18000 3.20%
Sector 137 3800-6340 0.5% 10800-15600 2.62%
Sector 168 3600-6070 -2.9% 10800-15600 2.71%
 GREATER NOIDA
[PROPINDEX - GREATER NOIDA]
[Key Takeaways]
The City Index saw a 1.2% rise over
the last quarter. The Apr-Jun 2016
quarter had almost equivalent
number of localities with price gain
as well as price drop
In the Apr-Jun 2016 quarter 47%
localities witnessed an average price
increase of 4.3% while balance 53%
localities witnessed prices decline of
by 2.1%
Price movement in the high demand
budget segments of Rs 3,250-3,500
per sq ft and Rs 5,000 per sq ft and
above segments was 0.1% and 5%,
respectively
Other budget segments witnessed
a price increment in the city from
-1.2% to 1.9% in the quarter
Better strategies lead to residents ease
F
acilitating ease to the residents of Greater
Noida seems to be the motto behind
the Greater Noida Authority. Against a
backdrop where realty assets (plots/flats) could
only be mortgaged to apply for home loans, the
Greater Noida Industrial Development Authority
(GNIDA) is in the process of granting permission
for application of educational, medical or any
other purpose loan including setting up an
industry. This loan will be available only to
those property owners who have completed
all allotment formalities and executed their
lease deeds. Currently, the proposal has been
submitted to the state government.
In similar instances of easing process for
residents, the GNIDA launched building
plans, investment and allottee portals which
allows the common man to access the design,
propindex.magicbricks.com
25
VOL6, ISSUE 1; APR-JUN, FY 2016-17
In geographical terms, the western
zone of Greater Noida centred on
Noida Extension, which accounts for
over 60% supply in the secondary
market and 36% of consumer
preference. The prices remained
stagnant at the same level as in the
last quarter
The South zone of the city centred
on Pari Chowk, with the highest
share (44%) of consumer preference,
witnessed a 2% increment in price
level. This was the highest price
increment amongst all zones
The East zone of the city had
negligible decline in price level.
Analysis across 18 localities in
Greater Noida shows that on
development and implementation of the online
map submission; automated building plan
scrutiny and approval system online. Apart
from providing an accountable, responsive
and transparent one-stop shop, the GNIDA is
facilitating details of group housing projects on
its website.
Keeping its residents safe is another aim
assumed by the city authority. In the wake
of several earthquakes last year, safety
certifications will soon become mandatory
for developers. High-rises will especially have
to comply. So far, seeking a structural safety
clearance before starting construction and after
completion was needed to get Completion
Certificates from GNIDA. Now, safety clearances
will have to be taken for every floor.
an average, Ready-to-Move-
in properties were 19% more
expensive than Under Constuction
properties in the Apr-Jun 2016
quarter.
The average difference in prices
has decreased by 300 basis points
as compared to the Jan-Mar 2016
quarter. While the weighted
average price of Ready-to-Move-in
properties was Rs 3,827 per sq ft, the
same number for Under Constuction
properties was Rs 3,222 per sq ft
The average price of Ready-to-
Move-in properties has declined
marginally while that of Under
Constuction properties has increased
over the last quarter by 2.1%
EDITORIAL
The UP cabinet has approved an increase in
FAR by 0.5 to pave the way for extra realty
space along the Metro corridors in Greater
Noida. The new FAR will be applicable within
a 1,000 metre radius of the Metro corridors.
Greater Noidas existing rule to buy FAR will be
applicable while buying land. This will increase
residential supply and population density along
the Metro corridors.
The Ghaziabad Development Authority
has allocated Rs 1,500 crore for various
infrastructure projects. Infrastructure is the
trigger to realty development.
Easy knowledge, easy loans, safety rubrics,
new residential supply, new infrastructure all
factors tied together separates GNIDA from
other authorities.
Magicbricks Bureau
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
26
propindex.magicbricks.com GREATER NOIDA

Geographical distribution of localities

Lop sided development concentrated in one zone
The map shows the geographical spread of
localities considered for calculating the City
Price Index. These localities have been grouped
together to understand the zone wise price
trend in the city
Development activity in Greater Noida is
concentrated in two zones - West and South
zones. Within the West zone, Noida Extension or
Greater Noida West, is the hub of development.
This single locality accounts for 35% and
48% share of consumer preference and
secondary market supply, respectively. Given its
connectivity and accessibility from Noida, it has
been positioned as Noida Extension
The South zone has 44% share of consumer
preference and consists of prime residential
areas like Pari Chowk. Sectors along and off
the Yamuna Expressway also fall in this zone
and have recorded more than 50% share of
consumer preference

The graphs shows the distribution of

Property distribution by capital value (Rs/sq ft) actively traded properties by their
Jan-Mar 2016 to Apr-Jun 2016 capital value
The graphs show that 83% secondary
market supply in the city is in a narrow
budget range of Rs 3,000-3,500 per sq ft.
Of these, 67% is concentrated in
still narrower range of Rs 3,000-3,250 per
sq ft. A very small percentage of property
is available in the higher
budget segments
It is this low budget range which
positions Greater Noida as a relatively
less expensive extension of Noida. This
allows for very large scale residential
development activity to attract demand
in the lower budget segments
Most of the development is located in the
northern stretch of Greater Noida which
lies east of Noida. This consists of Noida
Extension under the western zone as well
as localities in the North zone. Together
these zones have 40% share of consumer
 GREATER NOIDA
CITY INDEX
Jul-Sep 2013 to Apr-Jun 2016
The City Index for Greater Noida reflects
the price movement across 18 prominent
localities. These localities have been
chosen using the twin criterion of
share in overall consumer preference
in Greater Noida and share of actively
propindex.magicbricks.com
27
VOL6, ISSUE 1; APR-JUN, FY 2016-17
preference and 67% share of secondary
market supply
While the North zone has supply in the
below Rs 3,000 per sq ft and the
Rs 3,000-3,500 per sq ft bracket, the
West zone has supply predominantly in
the Rs 3,250-3,500 per sq ft segment
The South zone has supply across the
Rs 3,250-5,000 per sq ft and above
range. The more expensive supply in
the Rs 4,0005,000 per sq ft range
is available in and around city center
areas like Pari Chowk, the core area of
the city as well as an established prime
residential locality
The less expensive supply in this segment
is found along the Yamuna Expressway
further south of these localities, which is
attracting buyers to invest here
Price level in the East zone varies
depending on their proximity to the
city center in Pari Chowk . There is still
development that needs to happen in
order to boost investment in the locality
The City Index saw a 1.2% rise over the
last quarter. The Apr-Jun 2016 quarter
had localities with price gain and drop.
At least 47% localities saw an average
rise of 4.3%, pushing up the Jan-Mar
2016 Index. The balance 53% localities
saw a drop by 2.1%, pushing down the
Jan-Mar 2016 Index by 0.9% leading to
net rise of 1.2%
traded properties. The weight assigned
to each locality is its share of consumer
preference. This makes for a broad
Index which covers localities with high
consumer preference and high number of
actively traded properties
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
28
propindex.magicbricks.com GREATER NOIDA

Budget wise price change To understand the contribution of various

budget segments and localities in the
Oct-Dec 2015 to Jan-Mar 2016 Index movement, we have grouped 18
localities under the Index into budget
segments on the basis of their capital
values. A further micro picture of price
movement is presented by looking at
price changes across geographies and
their constituent budget segments
Price movement in the high demand
budget segments like Rs 3,250-3,500 per
sq ft and Rs 5,000 per sq ft and above
segments was 0.1% and 5%, respectively
Other budget segments witnessed a
price increment from -1.2% to 1.9%
among other segments
Price movement across zones:
East
Price trend in the east zone was mixed
as compared to other zones. The price
movement was from -2.8% to 1.9%
across budget segments in the zone
The lower budget segment ( below
Rs 3,000 per sq ft) saw a price decline of
Geographic and budget wise price change 2.8% in the zone. While localities in
Rs 3,000-3,250 per sq ft bracket
Jan-Mar 2016 to Apr-Jun 2016 witnessed price increment of 1.9%
Other localities in the range of Rs 3,750-
4,000 per sq ft range had negligible price
movement
North
This zone has properties in the lower
budget segments
Price trend in the lowest budget segment
was positive while other localities in the
Rs 3,000-3,500 per sq ft range saw price
decline from under 1% to 4.3%
West
West zone has most of the citys supply in
the Rs 3,250-3,500 per sq ft price bracket
pushing home buyers interests
Price trend in this segment in the West
zone defines the overall market trend.
Hence, the price trend in this segment
was in-line with the market average
 GREATER NOIDA propindex.magicbricks.com
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VOL6, ISSUE 1; APR-JUN, FY 2016-17

Price change-Top localities by consumer preference While the market saw a negligible
increment in this budget range in the
Jan-Mar 2016 to Apr-Jun 2016 Greater Noida area, the price level in
the zone remained same as in the last
quarter
South
Price trend across majority of the budget
segments in this zone was positive as
compared to other segments. Only two
budget segments out of six in the zone
had marginal price decline
High demand localities in the corridor
like Yamuna Expressway and Pari Chowk
witnessed price increase of 3.9% and
5%, respectively. Yamuna Expressway
prices fall in the range of Rs 3,250-3,500
per sq ft and Pari Chowk represents
the premium locality in Greater Noida.
Prices in the Pari Chowk fall in the range
beyond Rs 5,000 per sq ft segment
Centre
In the Central zone, the price trend
is opposite of city level average. The
localities witnessed price decline in the
zone against price increment at the city
level

Price trend basis construction status

Jul-Sep 2013 to Apr-Jun 2016
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
The graph shows the trend in the prices
of Ready-to-Move-in properties (RM)
and Under Construction (UC) properties.
Analysis across 18 localities in Greater
Noida shows that on an average, RM
properties were 19% expensive than the
UC properties in this quarter
The average difference in prices has
decreased by 300 basis points as
compared to the Jan-Mar 2016 quarter
Price change basis construction status
Top localities by consumer preference in the Apr-Jun 2016 period
30
propindex.magicbricks.com
While the weighted average price of RM
properties was Rs 3,827 per sq ft, the
same number for UC properties was
Rs 3,222 per sq ft
The average price of RM properties has
declined marginally while that of UC
properties increased by 2.1%
In terms of price movement, UC
properties posted a price decline of
2.4% over the Sep 2013 to Jun 2016
GREATER NOIDA
period, while the price of RM properties
remained stagnant in the same period.
Price movement in case of UC properties
improved due to increment over the last
quarter
The graph below shows price trend in
the top 10 localities of Greater Noida
by preference. It shows that localities
with high demand saw price gain in UC
properties
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
31
propindex.magicbricks.com GREATER NOIDA

Capital values and price change key localities

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD
Chi 4 4340-5330 -1.2% 10800-12000 2.4%
Chi 5 2680-4660 3.4% 9600-10800 2.8%
Noida Extension 2490-4000 -2.4% 8400-12000 3.1%
Omega 1 3090-4690 -0.8% 8400-13200 2.7%
Omicron 1 2190-4480 1.9% 7200-12000 2.8%
Pari Chowk 2250-9740 5.0% 7200-25200 2.6%
Sector 1 2500-4130 0.0% 7200-13200 2.8%
Sector 4 2000-5200 -4.3% 8400-10800 3.1%
Sector Mu 3370-4800 0.1% 7200-10800 2.2%
Swarn Nagari 3290-4060 1.9% 7200-12000 2.6%
Yamuna Expressway 2280-4400 3.9% 8400-13200 3.1%
Zeta 1 2050-4340 -0.3% 8400-13200 3.3%
 GHAZIABAD
[PROPINDEX - GHAZIABAD]
[Key Takeaways]
The City Index saw a 2% decrement
over the previous quarter even as
more localities saw price decline
than increment as compared to the
last quarter
In the Apr-Jun 2016 quarter, 63%
localities witnessed a price decline,
averaging 2.7%, while the balance
37% localities witnessed price
increment by 2.4% on an average
Similar to the previous quarter,
the Apr-Jun 2016 quarter has
been dismal for the realty sector
in the city. Of the five major
budget segments, price level in
four witnessed a decline. Only one
segment saw marginal price rise in
the city
Realty upbeat, time to address livability issues
W
ith micro markets Krishna Vihar,
NH-24 and Raj Nagar Extension being
active, Ghaziabad has been in news
for the new launches and positive sentiments
quite unlike Noida. Plotted developments and
multi-storey units have sprung up owing to
strategic infrastructure announcements. The
proposal to extend the metro line, the elevated
road from NH-24 in Ghaziabad to Raj Nagar
Extension, a proposal for RRTS from Anand
Vihar in Delhi to Meerut, all these are mean
good for realty in general.
Overall, with least unsold inventory in the
market, Ghaziabad bags the title of best
performing micro market of the NCR. With
the kind of demand witnessed for affordable
properties, the Ghaziabad Municipal
Corporation considered an expansion of limits.
propindex.magicbricks.com
32
VOL6, ISSUE 1; APR-JUN, FY 2016-17
The dominant budget segments, in
the range of Rs 4,000-5,000 per sq
ft witnessed a 0.8% decline. Only
the Rs 6,000-7,000 per sq ft price
segment had a marginal increment
of 0.6%
In geographical terms, the Western
zone, consisting of all premium
localities bordering Delhi, witnessed
a decline in prices by 2.1%. This
zone also accounts for over 70% of
consumer preference and 71% of
supply in the secondary market
The South zone of the city, centred
on Crossings Republik, witnessed
a price decline of 0.7%. The north
zone, with low-cost housing options
centred around Raj Nagar Extension,
These include Mohiddinpur Kinaoni, Morti,
Bhovapur, Ator Nangla and Mohan Pur. This
should help investors with a long term horizon
to consider these areas.
Meanwhile, Ghaziabad proposes to register cars
only if owners have parking space. The regional
transport department has prepared a proposal
aimed at checking parking of private vehicles
along roads and in public places.
Under the proposal, during registration of
private cars, owners will have to submit an
affidavit and a map indicating that they have
a place to park the vehicle. Good move! This
would keep a check on wayside parking and
encroachment.
Control of permanent & temporary
encroachment bylaws, 2016, the policy aims to
witnessed a significant price decline
of 3.2% in the city. The Central zone
consists of properties in the entry
level (<Rs 3,000 per sq ft) segment.
Besides this, the eastern region, was
the only region witnessing price
increment, average 0.7% in the City
Index findings
Analysis across 46 localities of
Ghaziabad city showed that on
an average, Ready-to-Move-in
properties were 4% more expensive
than Under Construction properties
during the Apr-Jun 2016 quarter
The average price of Ready-to-Move-
in and Under Construction properties
declined by 2.3% and 0.8% over the
last quarter, respectively
EDITORIAL
control rampant encroachment across the city
and penalise those indulging in temporary and
permanent encroachments.
The Ghaziabad Municipal Corporation has
also proposed to hike the annual rental value
(ARV) of properties by 5% this financial year,
which will also lead to an increase of house
tax. Further, the corporation has also proposed
rebate on house tax in four slabs, up to
January 31, 2017.
While realty is looking up, Ghaziabad needs to
address livability issues. Street lights in dark
spots, safety issues and quality of construction
are some of the aspects. This will help build the
city in a way that it invites more takers and not
just because of affordability.
Magicbricks Bureau
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
33
propindex.magicbricks.com GHAZIABAD

Geographical distribution of localities The map shows the geographical spread of

localities considered for calculating the City
Western localities preferred for connectivity with Delhi
Price index. The localities have been grouped to
know the zone wise price trends in the city

Localities in Ghaziabad drive demand basis

their contiguity and connectivity with Delhi

Localities in the West zone have best

connectivity to Delhi and are the preferred
addresses. The price gradient decreases as one
moves from west to east

Preferred localities in the West zone include

Indirapuram, Vaishali, Kaushambi and
Vasundhara which are contiguous with each
other and some also share a border with Delhi

Those looking for relatively less expensive

options can choose from Raj Nagar Extension
in North zone and Crossings Republik in South
zone. While new development activity in
Crossing Republik is more or less complete, Raj
Nagar Extension is witnessing considerable

The graph shows the distribution of

Property distribution by capital value (Rs/sq ft) actively traded properties by their capital
Jan-Mar 2016 to Apr-Jun 2016 values and properties in the market are
concentrated in a narrow range
With 42% properties in less than Rs
4,000 per sq ft bracket, Ghaziabad, along
with Greater Noida, forms the most
affordable real estate destination for
consumers looking for buying residence
in the National Capital Region (NCR). The
higher budget segment in Rs 5,000-
7,000 bracket forms a smaller 12% share
of the secondary market
Geographical spread of budget
segments show that most of the supply
and consumer preference activity is
concentrated in the West zone. It has
more than 70% share of supply in
the secondary market and consumer
preference in Ghaziabad
Localities in the Western zone like
Indirapuram, Vaishali, Kaushambi and
 GHAZIABAD
CITY INDEX
Jul-Sep 2013 to Apr-Jun 2016
The City Index for Ghaziabad reflects the
price movement across 46 prominent
localities. These localities have been
chosen using the twin criterion of
share in overall consumer preference in
Ghaziabad as well as share of actively
traded properties. The weight assigned
propindex.magicbricks.com
34
VOL6, ISSUE 1; APR-JUN, FY 2016-17
Vasundhara are all high consumer
preference localities. They provide good
connectivity and are easily accessible
from Delhi. Consumers can commute
to Delhi for work or business related
activities, and this makes them the
preferred destination
Price range in the West zone localities
varies from Rs 3,000-7,000 per sq ft.
Though the dominant segment (45%
share) is Rs 4,000-5,000 per sq ft
followed by Rs 5,000-6,000 per sq ft
Crossings Republik in South zone is an
important high consumer preference
locality which caters to demand in the
Rs 3,000-4,000 per sq ft price segment.
The whole locality consists of new
projects which have been completed
Raj Nagar Extension in North zone is
another upcoming destination which
serves consumer preference in the Rs
3,000-4,000 per sq ft price segment
The City Index saw a 2% decrement
over the previous quarter. The Apr-Jun
2016 quarter had more localities with
price decline. At least 63% localities
saw an average price decline, averaging
2.7%, pushing down the Jan-Mar 2016
Index value by 2.2%. The balance 37%
localities saw average price increment of
2.4%, pushing up the last quarter Index
by 0.2% leading to net decrement of 2%
in City Index for Apr-Jun 2016 quarter
to each locality is its share of consumer
preference in the city. This makes for
a comprehensive Index which covers
localities with high consumer preference
as well as high number of actively traded
properties in the secondary market
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
35
propindex.magicbricks.com GHAZIABAD

Budget wise price change To understand the contribution of various

budget segments and localities in the
Jan-Mar 2016 to Apr-Jun 2016 Index movement, we have grouped 46
localities under the Index into budget
segments on the basis of their capital
values. A further micro picture of price
movement is presented by looking at
price change across different geographies
and their constituent budget segments
The last quarter has been dismal for the
realty sector in the city. Of the five major
budget segments, price level in four
segments witnessed a decline. Only one
budget segment saw marginal price rise
The dominant budget segment Rs
4,000-5,000 per sq ft witnessed a 0.8%
decline.Only in the Rs 6,000-7,000 per sq
ft price segment actually had marginal
increment of 0.6%
Price movement across zones:
East
This zone consists of properties in the
entry level (below Rs 3,000 per sq ft)
Geographic and budget wise price change segment
Jan-Mar 2016 to Apr-Jun 2016 In-line with the overall price trend, it
witnessed a price increment of 1.6%.
Besides the Central region, East was the
only region witnessing price increment
North
Raj Nagar Extension is an important high
consumer preference locality in this zone
The zone caters to consumer preference
for relatively less expensive options in
Ghaziabad in the Rs 3,000-4,000 per sq ft
price bracket
The North zone witnessed a significant
3.2% price decline in this quarter which
was more than a percentage point higher
than the city average
West
West zone holds most of the citys supply
in Rs 4,000-7,000 per sq ft price bracket.
Price trend in this zone decides the
overall city price movement average
 GHAZIABAD propindex.magicbricks.com
36
VOL6, ISSUE 1; APR-JUN, FY 2016-17

Price change-Top localities by consumer preference The city average price change in the
Rs 4,000-5,000 per sq ft and Rs 6,000-
Jan-Mar 2016 to Apr-Jun 2016 7,000 per sq ft segments was decided by
price change (0.8% and 0.5% decline,
respectively) in these budgets in the
West zone
In the Rs 3,000-4,000 per sq ft price
segment, the locality average witnessed
a significant 2.9% decrement as against
city average decline of 2%
South
Localities in the South zone form the
second most preferred destination in
Ghaziabad after the western zone, with
bulk of the supply in the range of below
Rs 3,000 per sq ft to Rs 3,000-4,000 per
sq ft price range
Crossings Republik with its news
construction is the most preferred
locality in this zone, at the city level
The South region of the city forms 14%
of the citys supply, it witnessed a 0.7%
price decrement in the city over the
Jan-Mar 2016 quarter

Price trend basis construction status

Jul-Sep 2013 to Apr-Jun 2016
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
37
propindex.magicbricks.com GHAZIABAD

The graph shows the trend in the prices
of Ready-to-Move-in properties (RM)
and Under Construction (UC) properties.
Analysis across 46 localities in Ghaziabad
shows that on an average, RM properties
were 4% more expensive than UC
properties in the Apr-Jun 2016 period
The average difference in prices has
decreased by 100 basis point this quarter,
after increasing by 400 basis points in the
last quarter. While the weighted average
price of ready-to-move-in properties
properties was Rs 4,334 per sq ft, the
same number for Under Construction
properties was Rs 4,187 per sq.ft
The average price of RM and UC
properties has declined by 2.3% and
0.8%, respectively over last quarter, in
the city
In terms of price increase, UC properties
posted a price decline of 7% over the
Sep 2013 to June 2016 period, while the
price of RM properties declined by 8%
in the same period. The price movement
in in case of RM and UC property, has
worsened due to price decline in last
quarter
The graph below shows price trends
in top 10 localities in Ghaziabad by
consumer preference. It shows that more
localities have seen price increment in
case of UC properties

Price change basis construction status

Top localities by consumer preference in Apr-Jun 2016 period
 VOL6, ISSUE 1; APR-JUN, FY 2016-17
38
propindex.magicbricks.com GHAZIABAD

Capital values and price change key localities

Locality PRICE RANGE (Rs/sq ft) PRICE CHANGE Q-o-Q RENT (Rs /month) YIELD
Ahinsa Khand 1 3390-8750 -2.7% 12000-20400 2.57%
Ahinsa Khand 2 3500-6450 -3.0% 8400-20400 2.84%
Bhopura 2300-3660 -3.4% 7200-12000 2.86%
Crossings Republik 2600-4270 -1.6% 7200-12000 2.66%
DLF Ankur Vihar 2020-3160 -2.9% 7200-8400 3.05%
DLF Dilshad Extension 2910-4220 -1.3% 10800-10800 3.05%
Garhi 2280-3580 -2.5% 7200-10800 2.87%
Govindpuram 2000-3550 1.7% 9600-10800 3.97%
Gyan Khand 1 3250-5330 -2.4% 12000-16800 3.39%
Gyan Khand 2 3350-5330 -2.1% 12000-20400 3.81%
Indirapuram 2830-7000 -1.2% 10800-19200 3.12%
Judges Enclave 3550-6660 1.8% 8400-16800 2.49%
Kaushambi 3820-8270 1.6% 10800-20400 2.51%
Mohan Nagar 3960-5660 -1.8% 9600-14400 2.49%
Neeti Khand 1 3210-5470 -1.2% 12000-20400 3.79%
Neeti Khand 2 3380-5920 3.5% 12000-20400 3.41%
NH 24 2120-3390 3.6% 7200-12000 3.43%
Nyay Khand 1 3160-5000 -1.4% 12000-20400 3.95%
Orange County 5960-6940 -0.1% 15600-20400 2.84%
Pratap Vihar 2210-5880 -0.2% 10800-18000 3.57%
Raj Nagar Extension 2210-3530 -3.2% 7200-13200 3.21%
Ramprastha Greens 5330-7250 -0.4% 10800-18000 2.35%
Sahibabad 2750-6120 -2.2% 9600-14400 2.66%
Sain Vihar 2740-4020 -1.0% 7200-10800 2.55%
Shakti Khand 2 3060-5120 -2.2% 12000-16800 3.54%
Shakti Khand 3 3270-5640 2.1% 12000-20400 3.67%
Shakti Khand 4 3410-6030 1.1% 12000-16800 3.03%
Shalimar Garden 2580-4720 -3.4% 8400-13200 2.93%
Shalimar Garden Extension 1 2730-4370 -3.1% 9600-14400 3.52%
Shalimar Garden Extension 2 2960-4800 -3.1% 7200-15600 2.99%
Vaibhav Khand 3900-6780 0.1% 9600-21600 2.81%
Vaishali 3010-7090 -4.3% 12000-20400 3.40%
Vaishali Sector 1 3410-7000 -1.4% 13200-20400 3.32%
Vaishali Sector 2 3360-5330 -1.3% 10800-22800 3.90%
Vaishali Sector 3 2770-6890 -2.3% 12000-19200 3.24%
Vaishali Sector 4 3150-7650 0.3% 13200-21600 3.26%
Vaishali Sector 5 3400-6270 1.5% 14400-19200 3.55%
Vaishali Sector 6 3330-5270 2.5% 12000-19200 3.81%
Vasundhara 2630-5910 -3.6% 10800-15600 3.03%
Vasundhara Sector 1 2680-5200 2.6% 8400-18000 3.23%
Vasundhara Sector 12 3660-6270 1.8% 9600-10800 2.11%
Vasundhara Sector 3 2500-5660 0.9% 9600-18000 3.29%
Vasundhara Sector 5 2600-6660 0.1% 10800-15600 2.77%
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D I S C L A I M E R

Every effort has been made to make this Index as complete and as accurate as possible. MagicBricks accepts no responsibility for inaccuracies in the
information/data contained in this book. It shall have neither liability nor responsibility to any person or entity with respect to any loss or damage
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to change from time to time due to market condition.