Residential Property - Bangalore + Chennai Trends

Like the Delhi NCR market, Bangalore Residential Property market witnessed a Flat Quarter with barely any price hikes. Here is the Latest Residential property Prices in Bangalore - Central (Brunton Road, Artillery Road, Ali Askar Road, Cunningham Road), East (Marathalli, Whitefield, Airport Road), South East (Koramangala, Jakkasandra), Off Central (Vasanth Nagar, Richmond Town, Indiranagar) and North West (Malleshwaram, Rajajinagar)

Chennai witnessed some QoQ hikes in residential prices in the following areas - Rajiv Gandhi Salai, Velachery and Anna Nagar as shown below

Residential Trends - Delhi NCR + Mumbai

Here is a Snapshot of the Latest Residential Capital Values  / Prices in Mumbai  and in comparison to a Year ago based on QoQ in the following areas - South Central (Altamount Rd., Malabar Hill, Napeansea etc) , Central (Worli, Prabhadevi, Lower Parel / Parel) ,North (Bandra (W), Khar (W), Santacruz (W), Juhu , Far North (Andheri (W), Malad, Goregaon) and the North East (Powai).

Residential Property prices in Delhi NCR in the Last Quarter Have Remained Flat or Subdued. Here is a comparison of price variation on a QoQ basis in the following areas -South East (New Friends Colony, Kalindi Colony, Ishwar Nagar), South Central (Safdarjung Enclave, Sarvapriya Vihar, Panchsheel), Gurgaon and Noida

Mumbai Residential Market - Going Slow

South-central Mumbai has seen a glut of new (or upcoming) launches over the last two years (e.g., Lodha 3-4 msf + 4msf NTC mills; IBREL 3-4msf; DB 3-4 msf; OBER 2msf), totaling a significant 15+ msf. However, most of these projects have been delayed (on regulatory or other factors), and are planned to be 60-100 stories tall (implying long completion cycle of 5-7 years). Sales volumes have been sluggish so far.

The lack of new deliveries would likely steadily push residential rentals up (still 8-10% below 2008 peak) over the next 2-3 years, which in turn could continue to lift the value of already high ready to move in stock. The situation should normalize with the delivery of the under-construction supply (five years). List of Recent Launches in Greater Mumbai / Bombay by prominent Builders and the Current Ongoing Rate Per Square Feet

• Worli Blu IBREL Worli South / Central Mumbai ~42,000
• Orchid Crown - Tower C DB Realty Prabhadevi South / Central Mumbai ~26,000
• Wadhwa Dadar Wadhwa Dadar South / Central Mumbai 25,500
• Crescent Bay L&T + Omkar Parel South / Central Mumbai 17,000
• Lodha Elisium Lodha Wadala South / Central Mumbai 16,500
• Lodha Venezia Lodha Parel South / Central Mumbai 19,980
• Meredia Omkar Kurla South / Central Mumbai 15,500
• Godrej Serenity Godrej Chembur South / Central Mumbai ~16,500
• Alta Monte - Tower C Omkar Malad Western Suburbs 10,500
• The Nest Wadhwa Andheri Western Suburbs 17,100
• Sunteck City Sunteck Goregaon Western Suburbs 12,500
• Runwal Greens - Phase 3 Runwal Mulund Eastern Suburbs 9,300
• Godrej Platinum - Tower 3 Godrej Vikhroli Eastern Suburbs ~14,800