Mumbai Residential prices riding high

Across all the major micromarkets, prices have risen by 10-30% since April 2010. This is after the 20-40% increases in the period October 2009–April 2010. For example, prices in Borivli, a western suburb in Mumbai, are currently at Rs8,000-11,000p sq ft, up from last year’s Rs6,000–8,000p sq ft.

Here are the latest property prices as we obtained from the Exhibition,

Ackruti Sunmist Andheri 16,600
Rustomjee Elanza Malad 12,500
Ackruti Gardenia Mira Road 4,800
Gundecha Symphony Andheri 13,800
Kalpataru Kalpataru Gardens Kandivali 9,500
Kalpataru Kalpataru Towers Kandivali 9,800
Lodha Eternia Andheri 12,500
DSK Developers Madhuban Andheri 7,700
Hiranandani Hiranandani Heritage Kandivali 11,200
Runwal Runwal Elegante Andheri 15,000

Ackruti Vedant Sion 12,500
Ackruti Siddhi Thane 6,300
Nirmal Lifestyle Citi of Joy Mulund 7,776
Nirmal Lifestyle Lifestyle City Kalyan 2,547
Lodha Imperia Bhandup 8,200
Hiranandani Estates Thane 6,700
Gundecha Zenith Mulund 7,200
Nirmal Lifestyle US Open Mulund 7,200
Hiranandani Meadows Thane 6,700
Runwal Pearl Thane 5,200
Runwal Greens Mulund 7,300
Kalpataru Aura Ghatkopar 9,500
Godrej Properties Riverside Kalyan 2,950

Continued strength in volumes at current price levels would hinge on: 1) expectation of continued growth in personal disposable income, i.e., a robust job environment; and 2) stable interest rate.

DB Realty Project Pricing Mumbai

Here is the Rate at which DB realty has sold some of its properties in Mumbai.

INR / SFT.

Orchid Ozone Dahisar 4,947
Orchid Suburbia Kandivili 9,470
Orchid Woods Goregaon 10,778

Orchid Turf View Island City 40,000
Orchid Heights Island City 19,997
Orchid Crown Island City 23,888

Supply Vs Absorption Trends Across India

The Real Estate Absorption has been the highest in 2 years in Aug-Sept in most markets. Realtors are slowly exhausting their inventory and have slowed down new launches. Here is what he scenario is in the Metros.

Gurgaon recorded average monthly absorption of 1,726 units/months in Jul/Aug. This is 23% lower than 2Q average. On YTDCY10 basis the absorption run rate is down 4% as compared to CY09 average. Months of unsold inventory are at its record low of ~7 months.

Absorption pick up in Noida/Greater Noida has been astonishing as run rate in CY10 has tripled from 2009 levels. New launches by Jaypee Infratech and Supertech have contributed a lot to this.

Average monthly sale run rate in Jul/Aug (4,186 units/month) in Mumbai (including Navi Mumbai and Thane) declined by a 13%. Within Mumbai, South Central Mumbai have fared the worst with volumes down 40% Q/Q.

Absorption run rate (at 1,950 units/ month) in Bangalore picked up 13% Q/Q in 3Q despite July being a seasonally weak period (Amavasya). Overall residential volumes in Bangalore are up 13% Y/Y. Months of unsold inventory has been coming down consistently over the last two years and is the Worst Market for Investors because of unstable Government and Massive Money Laundering by Local Politicians.

Chennai is witnessing steady pick up in absorption with 3Q10 sales run rate (1,484 units) higher by 21% from 2Q10 levels. Overall residential volumes in Chennai are up by 5% Y/Y.

Investors Punish Shady Realty Business Stocks

It is a well known fact across the world that Indian Real Estate is a shady business backed by Politicians and Mafia Dons taking hardworking legal & ethical Indians for a ride. It may come as a surprise to readers of this article from else where in the world, but the fact is the Indian society has accepted the evil of Parallel Economy / Black Money and majority of the elected representatives are against curbing this.

Anyway, the main theme of our write-up is how Real Estate Stocks have Destroyed investors Wealth and are still far from their 2008 Highs. So I hope you now understand our bearish stand on the Indian Real Estate Stocks.

• Anant Raj Industries - High 360 - CMP -148
• Ansal Properties - High 400 - CMP - 95
• Brigade Enterprises - High 300 - CMP - 150
  
• DLF - High 800 - CMP - 386
• HDIL - High800 - CMP -272 [Bonus 1:1]
• IndiaBulls Real Estate - High 600 - CMP -180
• Jai Corp - High 6000 - CMP - 256 [Suspended / Splits - Backed by Chela of Mukesh Ambani. Stay away]
• Omaxe - High 400 - CMP - 144
• Orbit Corp - High 400 - CMP -125
• Parsvnath Developers - High 400 - CMP -145
• Peninsula Land - High 800 - CMP -68 [Split ]
  
• Purvankara Projects - High 400 - CMP -132
• Sobha Develoeprs - High 800 - CMP -390
• Unitech - High 180 - CMP -94

Just BUY one Dream Home as it is impossible to fight the Politician-Mafia nexus in Real Estate and continue to invest in other Diversified industries and profession for Growth and not Real Estate.

Delhi NCR Current Prices - Residential Segment

Here is the latest update on the REsidential Apartment Property Prices in Delhi / NCR - Gurgaon, Noida, Manesar and Greater Noida as of Sept 2010.

Prices in INR / SFT.

New Delhi:
Prithviraj Road 50,000
Aurangzeb Road 50,000
Chanakyapuri 45,000
Golf Links 45,000
Shanti Niketan 35,000
Vasant Vihar 30,000
Anandlok 27,000
Friends Colony 25,000
Greater Kailash - I & II 20,000
Mayur Vihar 14,500
Okhla Tehkhand 12,750
Shivaji Marg 11,000
Model Town 8,700
Kapashera 5,000
Dwarka 5,000

Gurgaon/Manesar
DLF Phase V 7,600
Sector 66 6,000
Sushant Lok III 6,000
Sector 50 5,800
South City II 5,500
Sohna Road 4,700
Sector 109 3,200
Sector 103 2,900
Manesar 2,600
Sector 91 2,600
Dharuhera 1,900

Noida:
Noida EM Bypass 4,500
Jaypee Greens 6,000
Unitech Grande 6,000
Sector 52 4,500
Sector 100 3,700
Sector 119 3,300
Sector 77 3,200
Sector 143 3,050
Sector 137 3,000

Greater Noida:
Jaypee Greens 6,000
Gautam Budh Nagar 2,300
Taj Expressway 2,200
Noida Extension 2,100
Dadri 2,100

Bangalore Residential Apartment Prices

Here is the latest prices in Bangalore / Bengaluru for Residential Apartments in various pockets of the city. Bangalore is probably the only city in India which has severely lacked in developing infrastructure compared to the Industrial Growth rates witnessed in the City. Courtesy - Highly Corrupt Politicians Across the Entire State.

Lavelle Road 18,000
Ulsoor 15,000
Malleswaram 6,000
Koramangala 5,000
Sanjay Nagar 5,000
Jayanagar 5,000
JP Nagar 4,500
Hebbal 4,000
Whitefield 3,400
Bannerghatta 3,200
Sarjapur 3,200
Yelahanka 3,140
Kanakpura 2,900
Devanahalli 2,800
Electronic City 2,600
Tumkur Road 2,400
Doddaballapur 2,200

Mumbai West + Navi Mumbai - Apartment Prices

In contnuing our coverage on Mumbai Property Prices for Residential Apartments at the end of Sept-2010, here is our data in Western Mumbai and Navi Mumbai.

Western Suburbs Property Prices: Residential Apartment Price INR / SFT
Bandra West 20,000
Bandra East 15,000
Khar 18,000
Santacruz 15,000
Vile Parle 13,000
Andheri 11,500
Jogeshwari 8,000
Goregaon 9,000
Malad 8,000
Kandivali/Borivali 7,500
Dahisar 6,000
Mira Road/Bhayander 3,500
Virar/Vasai 2,800

Navi Mumbai Apartment Prices:
Vashi 7,000
Airoli/Sanpada 5,000
Nerul/Belapur 4,500
Kharghar 4,000
Panvel 2,800

Also Check out new Apartments Projects Launched in Bangalore & Delhi NCR.

South Mumbai + Central - Property Prices

Here is the Latest property Prices for Residential Apartments in South Mumbai and Central Mumbai. These prices have been taken into account after following and tracking deals at these locations for Residential Apartments in Sept-2010.

South Mumbai & City Residential Apartment Prices:
Colaba/Cuffe Parade 50,000
Marine Drive 40,000
Napean Sea Road 40,000
Worli 30,000
Mahalaxmi 25,000
Mumbai Central 23,000
Lower Parel 22,000
Dadar/Mahim 16,000
Byculla 16,000
Sewri/Parel 12,500
Sion 12,000
Wadala 12,000

Mumbai Suburbs Residential Apartment Prices / SFT
Kurla 7,000
Chembur 8,000
Ghatkopar 9,000
Vikhroli 6 ,500
Bhandup 6,500
Mulund 6,800
Thane 5,500
Dombivali 3,800
Kalyan 3,000