Premium Properties Central Mumbai - Price List

We have obtained the rates of premium property launches in Central Mumbai and they are as follows.
Name of Property / Developer / Location / Price INR/sft / Completion

• Orchid Heights DB Realty Jacob Circle 22,500 Mar 2013
• Orchid Turf View DB Realty Mahalaxmi 60,000 Mar 2013
• Orchid Crown DB Realty Prabhadevi 27,000 Dec 2012
• Orbit Terraces Orbit Corporation Lower Parel 22,000 2012
• Orbit Grand Orbit Corporation Lower Parel 19,000 2011
• The Residences Unitech Parel 11,500 2012
• Indiabulls Sky Indiabulls Real Estate Lower Parel 24,000 2013
• Indiabulls Sky Suites Indiabulls Real Estate Lower Parel 20,000 2013
• Indiabulls Sky Forest Indiabulls Real Estate Lower Parel 21,000 2013
• DLF – NTC Mills DLF Lower Parel 25,000 2013
• Lodha Bellissimo Lodha Group Mahalaxmi 25,200 Dec 2010

You can contact the Developers Directly and Negotiate for the prices instead of going through a broker.

NHB Residex - India's Residential Property Index

Property Bulls have a big reason to worry as NHB Residex data confirms the myth that Property is no more a safe investment as it is in the minds of real estate people.

Look at what has happened to the Bangalore property market in the past 3 years. More volatile than the BSE Sensex which is playing to the tunes of Global economies.
You can track the NHB Residex on the official Website here.

NCR Recovery to be Gradual

Although absorption continues to be healthy in NCR, we believe increased FSI for group housing projects in Noida and fresh land auctions would cap rapid price rise. We estimate marginal 5-10% appreciation across the NCR over CY10-11. During Q1CY10, over 50,000 apartments were launched with delivery timeline of 36 months.

After registering a slowdown in new project launches in CY09 due to unabsorbed inventory and sluggish demand, Q1CY10 has seen the launch of a number of new projects in Gurgaon/Noida/Greater Noida. Over 50,000 apartments are planned to be constructed over CY10-12. The Noida-Greater Noida region has seen the highest number of launches (over 35,000 apartments) by major developers including Jaypee Infratech, Unitech,

Majority of the projects were launched in the Rs2,000-3,000psf price range with completion timelines of 36 months. Due to the enhanced FSI in Noida (2.5x for group housing projects from 1.5-1.75x earlier) and new land auctions in Noida Extension in H2CY09, about 75% of the new launches have been in the Noida/Greater Noida region with the thrust being on affordable housing projects.

Analysis of Lodha - Wadala land deal

Lodha Developers bagged a 6-acre plot in Wadala, Central Mumbai, for a cumulative price of Rs40.5bn. The plot has a developable area of 495,000sqm or 5.3msf. With total estimated saleable area of ~7.6msf (70% residential), we estimate the project’s NAV at Rs31.3bn and has the potential to add over Rs100bn of housing stock in Central Mumbai over FY11-16. We believe this project would result in an oversupply in the premium segment in Mumbai. We reiterate our view of a 10-20% price correction across projects in Mumbai.

The acquisition at Wadala has the potential to add additional 2,500-5,000 units over the next 4-5 years in the premium/super-premium segment representing potential sales value of over Rs100bn. In such a scenario, we believe that prices in South/Central Mumbai would be under pressure and there is a possibility of 10-20% price correction in Mumbai on the back of this oversupply. What say ?

Sales Drops - Unsold Inventory Stable

In the Mumbai region about 4,700 units/month were sold on average in 1Q10, down 18% from about 5,700 in 4Q09. However, the months of unsold inventory is 8, which is the lowest level since January 2008.

In Gurgaon, about 1,950 units/month were sold in 1Q10 vs. about 2,400 in 4Q09 and about 2,100 in CY09. There was a pick-up from about 1,650 units sold in February to over 1,900 units in March. Sales in Noida/Greater Noida accelerated to about 4,400 units/month in 1Q10 vs. about 3,000 in 4Q09, which we believe reflects a strong response to a launch in Greater Noida in March.

Bangalore, Chennai and Hyderabad, volumes are down by 8%-13% in 1Q10 vs 4Q09, but the 1Q10 rate is stable in context of the CY09 average.

Overall, the average pace of sales in 1Q10 all India basis is stable.

Anant Raj Technology Park, Manesar

The Manesar Technology Park project is almost complete. The project is located in Sector 8 in Manesar which is being developed by the government as Technology Park Complex across 140acres.

Office component ready and delivered: Anant Raj has completed the office development with leasable area of 1mn sq ft. Some of the tenants are in advance stages of completing the fit-outs and are expected to start operations in couple of months. The average rental from the office component is around Rs35/sq ft /month for the 60% of the area leased till date.

Retail - The project has around 40000sq ft of retail food court area. Anant Raj expects the retail part to get leased once tenants start operation in the office space.

Hotel: Anant Raj has leased the hotel space to a third party at rentals of Rs24/sq ft / month. The total area in the hotel is around 0.1mn sq ft. The tenant has tied up with Hilton for the operating its budget hotel – Hamptons and has started interior work for the hotel.

Interview with Pranav Ansal On property Market Outlook

Here are thoughts of Realty Developer Mr. Pranav Ansal of Ansal Properties and Infrastructure.

Most exciting real estate markets: Mr. Pranav Ansal believes that Gurgaon, Greater Noida and Kundli (on NH 1) in Delhi NCR, Lucknow and some select cities in Punjab including Mohali will be most exciting in terms of new launches and sales revenues in the next 12-month period.

Key segments expected to outperform: In the short to medium term, Mr Ansal expects residential segment and among residential mass segment which is expected to register the maximum growth.

Expectation on residential prices: Mr Pranav Ansal expects residential demand and prices to firm up further in the coming months. He has seen a good run up in prices in the NCR in recent months. He now expects prices in other key cities and tier 2 cities to catch up over the next 3 to 4 quarters.

We are also witnessing a trend of more and more people working/doing business in metros like Delhi, Mumbai, Bangalore, etc and hailing from cities like Lucknow, Mohali or Jaipur or other such cities want to acquire a residence, whether an apartment or an independent floor or a villa depending on their income levels, in their ‘native’ cities. This will be another growth driver for our residential projects in these cities. We also expect more investments by NRIs, with the improvement in economic situation in the US, UK and Canada which are the traditional strongholds of our company and countries like Australia and South Africa from where we are seeing a lot of interest of late.

The real estate regulator will be good for the industry in order to restore the reputation of the industry, which has been marred by the misdeeds of some of the smaller, fly-by-night operators in the industry. This will also help separate men from the boys and in the long run, lead to the much needed consolidation in the industry.