FOREWORD. Sudhir Pai Business Head, Magicbricks.com

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2 FOREWORD PropIndex entered the fourth year of operations. In the first issue of the series, PropIndex reflected the cautiously positive consumer sentiment with the National Property Index rising by 1 per cent in the Apr-Jun 14 quarter. The City Index values too, remained even across cities with a marginal increase or drop of 1 per cent, except in Delhi. Demand for property in the Upto Rs lakh dropped across the country, contrary to the industry buzz that this is undersupplied and in greater demand. The 2BHK unit remained the most popular category across cities, reflecting the aspiration of urban dwellers to own a property that would match their lifestyles. The most preferred price range remained Rs lakh, where supply was in plenty and the budget was within reach of the middle class, which remained out of the market for a few quarters. Luxury properties, though in greater demand, remained over-supplied as developers across the country chose to build in this category. As more units hit the market, consumers have started choosing locations, budgets and conveniences in this category. Luxury values across cities have been included as a separate annexure. Rental values either dropped or stabilised in the quarter. The percentage growth in rental values was arrested as consumers again started looking for the buy option. Unlike the previous quarter, where rental values rose by 5-10 per cent, in this quarter, it dropped by upto 5-6 per cent, across cities. Demand preferences remained the same as in the previous quarters but was not evenly spread across the city. Locations near economic corridors continued to post greater demand. However, unlike the previous quarter, besides IT, the manufacturing sector too, drove demand in select cities such as Chennai. In Mumbai, the commercial hubs of the Bandra-Kurla Complex and even Thane drove demand. The completion of infrastructure projects such as the Santa Cruz-Chembur Link Road and the the Metro Phase-I from Versova to Ghatkopar, which eased connectivity to the commercial hubs, also contributed to change in demand patterns. The Union Budget of presented recently, has addressed the housing market s concerns in many ways. It has featured budget housing, finance issues, township development road map and development of smart cities as part of the main Budget. While the outcome will take a while, the urban infrastructure and housing provisions are expected to boost sentiment. These are exciting times and change is in the air. Share your views on this report and how we could make PropIndex even better. Write in at [email protected]. Sudhir Pai Business Head, Magicbricks.com

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4 VOL 4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NATIONAL PROPERTY INDEX (NPI) APR-JUN 14 n n Of the 12 cities 9 showed minor changes in the City Indices, while rental market showed subdued trends in majority of the cities Properties worth upto Rs 30 lakh recorded a significant drop in demand, whereas, properties worth above Rs 30 lakh, across the budget categories, witnessed a rise APR-JUN 14 In the Apr-Jun 14 quarter, no major change was recorded in the respective City Indices, except Delhi, which registered a drop of 4 per cent. All other Indices exhibited minus 1 to plus 1 per cent change, indicating a slow market. No significant increase was noted in supply, showing a cautious approach. NPI is a weighted average of supply and values across 11 cities in India. Average capital values across cities showed a range bound movement. On the other hand, unlike the previous quarter, average rental values exhibited a drop. This resulted in a marginal rise or stable rental values in the last six months. Lack of policy favourable for the real estate and no reduction in the home loan interest rates after the formation of the new government also impacted sentiments, contributing to the stable City Index values. This led to a small rise of 1 per cent in the NPI. Bangalore, Chennai, Gurgaon, Kolkata and Pune noted a small rise of 1 per cent in the City Index. On the other hand, Noida, Ghaziabad, Vadodara and Mumbai City Indices remained unchanged. Ahmedabad and Hyderabad showed a small drop of 1 per cent. Of the 12 cities tracked, Pune and Ghaziabad recorded the lowest number of localities with a drop in the average capital values. The new government has laid special emphasis on the real estate sector in the Union Budget With the modified version of Real Estate Investment Trusts (REITs), the development of 100 Smart Cities, reducing the size and capital requirements of projects eligible for FDI, launching affordable housing schemes to proposing additional tax incentives on home loan, the n Demand for 2BHK units rose by 1-5 per cent across the cities, except Gurgaon government has announced a slew of measures to infuse fresh life into the real estae sector. In this edition of the PropIndex, we have also included Vadodara as an independent city. The residential market of Vadodara remained stable, with maximum development in and around the growth corridors such as Old Padara Road, Sama Savli Road, Waghodia Road and Gotri Road. IN THIS REPORT: National Property Index...1 Delhi...4 Gurgaon...13 Noida & Ghaziabad Annexures...37 Luxury...

5 propindex.magicbricks.com 02 VOL4, ISSUE 1; APR-JUN, FY Unlike the drop of 1 per cent in the Jan-Mar 14 quarter, the Ghaziabad City Index also remained unchanged. The Listed Price Monitor recorded a drop of 1 per cent. Unlike other parts of the Delhi-NCR, Ghaziabad posted a rise between 1-3 per cent in capital values. Lal Kaun at 11 per cent was an exception. NATIONAL PROPERTY INDEX l Except Gurgaon, all other cities recorded growing demand of 1-5 per cent for 2BHK units l Properties worth Rs lakh continued to top the buyer preference chart with a marginal increase of 1 per cent from the previous quarter l Demand for mid-segment properties worth Rs lakh and premium properties worth Rs 1-2 crore rose by 6 per cent l Supply of premium properties in 8 of the 12 cities outstripped demand The Ahmedabad City Index again dropped by 1 per cent in the Apr-Jun 14 quarter. This was primarily on account of a drop in the capital values by 1-4 per cent in large number of localities in the city. This kept the City Index value intact. On the supply side, no significant change was registered in the current quarter. South Bopal showed maximum increase in listings. The Listed Price Monitor showed a similar drop of 1 per cent. The Delhi City Index registered a maximum drop of 4 per cent during the Apr-Jun 14 quarter. Increase in availability of properties on sale primarily in the single floor units and drop in the average capital values by 1-9 per cent contributed to the drop in the City Index. Uttam Nagar in West Delhi noted the maximum increase in supply, followed by Safdarjung Enclave in South Delhi. Over 80 per cent of total housing demand was for apartments. With nearly 45 per cent demand, 2BHK units continued to be the most preferred BHK category at the city level, followed by 3BHK units with 41 per cent demand. Similar to the previous quarter, the Gurgaon City Index rose by 1 per cent in the Apr-Jun 14 quarter as well. The Listed Price Monitor, on the other hand, remained stable, unlike the previous quarter where it recorded a drop of 1 per cent. No major change was recorded in average capital values in the current quarter. However, the rental market showed a drop, unlike the previous quarter. Similar to the previous quarter, the Noida City Index showed no change. Increase in availability of residential apartments for sale coupled with an overall stability in the average capital values arrested the growth of the City Index. This too, kept the Listed Price Monitor unchanged in the current quarter. Over 65 per cent of residential localities tracked in the city witnessed a rise in the average capital values. This arrested the fall of the City Index inspite of slow uptake in the residential market. The Mumbai City Index remained unchanged in the Apr-Jun 14 quarter unlike the previous quarter where it registered a rise of 1 per cent. The Listed Price Monitor also remained unaltered against the Preferred Cities - Sale Locality Rank Q1 Q4 Mumbai 1 1 Bangalore 2 2 Pune 3 3 Chennai 4 4 Gurgaon 5 8 Kolkata 6 6 New Delhi 7 7 Hyderabad 8 5 Ghaziabad 9 9 Noida Note: Q4 Apr-Jun 14, Q1 Jan-Mar 14 Preferred Cities - Rent Locality Rank Q1 Q4 Mumbai 1 1 Pune 2 2 Bangalore 3 3 New Delhi 4 4 Chennai 5 5 Hyderabad 6 6 Gurgaon 7 7 Ghaziabad 8 10 Kolkata 9 8 Noida 10 9 Note: Q4 Apr-Jun 14, Q1 Jan-Mar 14

6 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com National - Consumer Budget Preference 30% 25% % 15% 10% 5% 0% 25% 21% 17% 18% 12% 5% 1% Upto Rs Lakh Rs -30 Lakh Rs Lakh Rs Lakh Rs Lakh Rs 1-2 Crore Rs 2 Crore & Above 2 per cent rise it witnessed in the Jan-Mar 14 quarter. East and West Pune remained the most preferred residential corridors, quarter-over-quarter. No significant change was noted in the average capital values. The increase or drop in values was registered between minus 4 to 6 per cent, with a healthy supply. This led to a 1 per cent rise in the Pune City Index. A 1 per cent increase was registered in the Kolkata City Index. Inspite of increase in the average capital values in majority of the localities tracked in the city, the Listed Price monitor remained unchanged. Statistics showed maximum residential development in South and East Kolkata, followed by North Kolkata. The city continued to yield higher rental returns of over 3 per cent, owing to lower base price of property and healthy rental values in comparison to other metropolitan cities. Similar to the previous quarter, the Chennai City Index continued to rise. It rose by 1 per cent yet again in the Apr-Jun 14 quarter. The Listed Price Monitor reported a drop of 2 per cent in the current quarter against a rise of 4 per cent in the Jan-Mar 14 quarter. Residential properties worth Rs -60 lakh remained the most preferred budget category, followed by properties in the budget range of Rs - lakh at 25 per cent. Post the peace that followed the Telangana decision, Hyderabad seemed to have stabilised. The residential property sector was relatively subdued in the Apr-Jun 14 quarter, as compared to the Jan-Mar 14 quarter. The Hyderabad City Index dropped by 1 per cent, primarily attributed to stable property prices and infusion of new inventories at a steady pace. This arrested the City Index growth. The Listed Price Monitor also dropped by 1 per cent as against a drop of 3 per cent in the previous quarter. Bangalore City Index rose by 1 per cent, in line with the NPI. With buyer sentiments in a waitand-watch mode post elections, the Bangalore market has been mostly passive, resulting in little change in property values in the current quarter. There was no change in the Listed Price Monitor. However, the rental market was subdued in the current quarter unlike the previous quarter. The Vadodara City Index value remained unchanged during the Apr-Jun 14 quarter. Drop in the average capital values in areas witnessing maximum development arrested the growth of the City Index. This resulted in the City Index value remaining unchanged in the current quarter. TOP YIELD GROSSERS Gross yield is a ratio of average annual rental value to the average capital value of the property. Given below are the top yield-grossing localities in each city. Locality Gross yield Bangalore, Sarjapur Road 4.97% Kolkata, Banshdroni 4.78% Hyderabad, Nallagandla 4.41% Ahmedabad, Vejalpur 4.% Chennai, OMR 3.92% Delhi, Uttam Nagar 3.62% Noida, Sector % Mumbai, Parel 3.31% Pune, VL Vishrantivadi 3.18% Ghaziabad, Indirapuram 3.01% Gurgaon, Sushant Lok 2.99% CAPITAL GAINS The table given below indicates maximum increase in capital values in each city. Locality % Change Ghaziabad, Lal Kuan 11.36% Bangalore, Sahakar Nagar 10.27% Hyderabad, Begumpet 9.% Kolkata, Narendrapur 8.46% Mumbai, Mulund West 7.66% Ahmedabad, Ghatlodia 7.46% Chennai, Anna Nagar West 6.69% Pune, Kalyani Nagar 5.85% Noida, Sector-93A 4.75% Delhi, Kalkaji 3.31% Gurgaon, Sector %

7 DELHI propindex.magicbricks.com 04 VOL4, ISSUE 1; APR-JUN, FY PROPINDEX - DELHI E d i t o r i a l The Delhi City Index dropped by 4 per cent in the Apr-Jun 14 quarter. This was in contrast to the 1 per cent rise witnessed in the previous quarter. The Listed Price Monitor also dropped by a per cent in the current quarter, as opposed to the 1 per cent rise recorded in the Jan-Mar 14 quarter Key Takeaways l The number of properties on sale went up across the city. Increase in the availability and low sentiments primarily led to a drop in the City Index value. Uttam Nagar in West Delhi noted the maximum increase in supply, followed by Safdarjung Enclave in South Delhi l Listed Price Monitor exhibited varied trends with most of the localities seeing an increase or drop of 1-3 per cent l Greater Kailash-1 in South Delhi, Sector 13 and 24 in Rohini, North Delhi and Vikaspuri in West Delhi negated the trend with a drop of 5-9 per cent l Unlike the Jan-Mar 14 quarter, average rental values registered a drop, leading to overall stable rental values in the last six months in the city l In East Delhi, Mayur Vihar, Vasundhara Enclave and Indraprastha Extension witnessed the lowest variation in rental values in the current quarter. This was primarily owing to proximity to Noida l Except Uttam Nagar in West Delhi, all other residential areas in the city offered gross rental returns on investment between per cent in the Apr-Jun 14 quarter l Delhi recorded equitable demand for properties across the budget range, except for properties worth Upto Rs lakh l Supply at 48 per cent showed higher availability of premium properties worth Rs 2 crore and Above compared to the previous Jan-Mar 14 quarter l Over 80 per cent of total housing demand was for apartments. This resulted in an increase of 8 per cent during the Apr-Jun 14 quarter. With nearly 45 per cent demand, 2BHK units continued to be the most preferred BHK category at the city level followed by 3BHK units with 41 per cent demand l Over-supply was recorded for premium properties of 4BHK and Above configuration at the city level with more than 25 per cent availability in the current quarter Dr DB Gupta Senior Consultant, NCAER Former HDFC Chair Professor, HUF The slow down of the population rate in Delhi is accompanied by growth in the number of nuclear families. An increase in FAR resulted in the addition of new floors. The growth in the number of young high income earners and better access to housing finance added to the demand for high-end properties, in Delhi, Gurgaon, Manesar and Noida-Ghaziabad. The improved connectivity (via the metro) helped in reducing the pressure on Delhi s property market. The City Index of Delhi NCR declined by 4 per cent over the last quarter. Many localities experienced a fall in capital values. Notable exceptions were Kalkaji and Vasundhara Enclave. Most of the localities also experienced a drop in the rental values. Uttam Nagar and Dwarka remained the most preferred localities for purchase. Demand for properties in the price range of Rs - lakh increased by 8 per cent and supply decreased by 2 per cent. Demand for 2 and 3BHK units increased, while that for 1BHK and 4BHK and Above declined. The supply remained unchanged. South Delhi noted an increase in the demand-supply gap of high-end properties. Larger properties of 4BHK and Above had high supply and low demand while units of 2BHK had high demand and low supply. The supply of Rs 2 crore and Above and 4BHK and Above categories increased in North Delhi. The demand remained stagnant. Demand for Rs -100 lakh category and 2BHK units remained consistently high over the last two quarters. Supply in East and West Delhi was in the Rs 1-2 crore range. Demand remained unfulfilled. Shortfall in demand for low end housing might be filled as DDA plans to roll out 27,000 flats across Rohini, Narela and Dwarka starting this month. About 90 per cent of these flats are likely to be in the EWS category and the rest in LIG, MIG and HIG categories.

8 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com DELHI L I S T E D P R I C E M O N I T O R R E N T M O N I T O R -1% l As opposed to the 1 per cent rise reported in the previous quarter, the Listed Price Monitor dropped by 1 per cent in the current quarter l More than 60 per cent of the tracked localities recorded a drop in capital values in the range of 1-9 per cent during the Apr-Jun 14 quarter l While Rohini Sector-24 recorded the highest drop of 9 per cent, localities such as Rohini Sector-13, Vikaspuri and Dwarka saw a 6 per cent drop in capital values in the current quarter l Minor rise in values was witnessed only in South Delhi localities such as Kalkaji, Vasundhara Enclave and Hauz Khas l More than 70 per cent of the tracked localities witnessed a drop in rental values in the Apr-Jun 14 quarter. This negated the significant rise observed in the Jan-Mar 14 quarter l Most of the localities that witnessed a drop were from South Delhi. These localities included Sarita Vihar, Malviya Nagar, Alaknanda and Kalkaji l The highest drop was witnessed in Shivalik (7%) followed by Sarita Vihar (6%) l In Dwarka, Sectors 3-6, 10 and 12 recorded an increase of 2-6 per cent in rental values in the current quarter. Sector 5 recorded the highest rise of 6 per cent Y I E L D M E T E R Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Hauz Khas ,0 1.53% Malviya Nagar , % Vasant Kunj , % Greater Kailash I , % Greater Kailash II , % Kalkaji , % East of Kailash , % Uttam Nagar , % Indraprastha Extn , % Sarita Vihar , % l The Yield Meter of Delhi varied from per cent in the Apr-Jun 14 quarter as compared to the per cent range witnessed in the Jan-Mar 14 quarter l Uttam Nagar witnessed the highest yield of 3.6 per cent in the present quarter displacing Malviya Nagar as the top grosser l Malviya Nagar continued to clock high rental returns with 2.45 per cent gross yield in the Apr-Jun 14 quarter l Vasant Kunj and Sarita Vihar also recorded healthy rental returns this quarter. As witnessed in the previous quarter also, both clocked more than 2 per cent returns

9 DELHI propindex.magicbricks.com 06 VOL4, ISSUE 1; APR-JUN, FY PREFERRED LOCALITIES SALE RENT Locality Rank Capital %age Q1 Q4 Values change Uttam Nagar to % Dwarka to % Vasant Kunj to 160 1% Aya Nagar to 40-1% Mayur Vihar Ph-I to % Saket to 210 0% Defence Colony to 360-2% Janakpuri to % Chattarpur to % Paschim Vihar to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 Locality Rank Rental %age Q1 Q4 Values change Mayur Vihar Ph-I to % Dwarka to % Saket to % Vasant Kunj to % Malviya Nagar to % Defence Colony to % Sarita Vihar to % Kalkaji to % Safdarjung Enclave to % Janakpuri to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 l Five out of the top ten preferred localities for sale in Delhi were in South Delhi. These included Vasant Kunj, Aaya Nagar, Saket, Defence Colony and Chattarpur l Defence Colony was a new entrant in the list this quarter notching the seventh position. Properties were available for Rs 28,000-36,000 per sq ft l Uttam Nagar displaced Dwarka as the most preferred locality for sale in Delhi. It moved up one position as compared to the previous quarter l Vasant Kunj and Mayur Vihar retained their third and fifth positions, respectively, on the list l Preference for Saket and Paschim Vihar dropped in the current quarter. While Saket moved down two positions to settle at number six, Paschim Vihar dropped to the tenth spot from the sixth l Aaya Nagar jumped up four spots this quarter to settle at number four from the eighth position it held in the previous quarter l All localities on the list of the top ten preferred localities on rent this quarter witnessed a drop of 2-10 per cent l Seven out of the ten localities on the list were in South Delhi. Third to ninth position on the list were occupied by these localities l Mayur Vihar Phase-I displaced Dwarka as the most preferred locality for rented properties. It moved up one position as compared to the previous quarter l Saket, Vasant Kunj and Malviya Nagar retained their positions at third, fourth and fifth spots l Defence Colony was a new entrant in the list of preferred localities on rent. It occupied the sixth spot and offered properties at Rs,000-50,000 per month. It also recorded the highest drop of 10 per cent in rental values this quarter l Sarita Vihar, Kalkaji, Safdarjung Enclave and Janakpuri dropped one position each on the list to occupy the seventh to tenth spots in that order Home in your Budget Upto Rs Lakh Uttam Nagar, Aya Nagar, Khanpur, Mehrauli Rs - Lakh Mahavir Enclave, Burari, Chattarpur, Dwarka Mor Rs -100 Lakh Vikaspuri, Dwarka Mor, Mahavir Enclave-I, Indraprastha l Localities in West Delhi witnessed high supply in most categories in this quarter l Uttam Nagar witnessed high supply of properties worth upto Rs lakh. Dwarka Mor and Mahavir Enclave recorded high supply of properties in the Rs -100 lakh range Rs Lakh Rs 2 Crore & Above Patparganj, Dwarka Sector-6 & 22, Sarita Vihar Defence Colony, Greater Kailash I, Safdarjung Enclave l Localities in South Delhi witnessed the maximum supply of high end properties worth above Rs 2 crore

10 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com DELHI Broker Mohit Minocha Founder& Director South Delhi Floors Consultant Surabhi Arora Associate director Research Over the years, it has become difficult to buy property in the real estate market of Delhi. In the wake of this, DDA is planning to launch a housing scheme, largely for the economically weaker section. In another key announcement, the state government decided to remove one crucial layer in the registration of properties. DDA lines up largest-ever offer of 27,000 flats Four years after its last housing scheme which had Delhiites stampeding to apply, Delhi Development Authority (DDA) will soon be coming out with its largest-ever offering of 27,000 flats. The 14 housing scheme will offer flats across all categories. These houses will be spread across Rohini, Narela and Dwarka and will be priced from Rs lakh to Rs 1 crore. Almost 90 per cent of the houses on sale or 24,000 units will be put to draw exclusively for the EWS, revealed senior DDA officials. n The Times of India, Delhi/NCR One hurdle less for property deals in Delhi At a time when ways to reduce bureaucratic hurdles are being debated across the country, the state government has decided to remove one crucial layer in the registration of properties. From now on, registration of property sale deeds will not require a no-objection certificate (NOC) from the local civic authority. Builders had been complaining that such NOCs delayed land deals and were tainted by corruption. The move is taken to revive the struggling realty sector. n Times of India, Delhi NCR E X P E R T S P E A K With MCD s move to make provisions for smaller farmhouses, buyers now have more options to invest in the luxury segment. Moreover, with a stable government at the centre, the number of transactions have picked up which was almost stagnant till now. As the city will see the new government taking control, more activity in the real estate sector is anticipated, especially in the coming six months. Delhi realty was distressed from the last four quarters. Post elections, the positive business sentiments are likely to boost confidence. The absorption rates are expected to strengthen and new development is likely to pick up. Enquiries have increased but volumes have not yet picked up. With the new government expected to focus on various installed infrastructure projects, a welcome revival in Delhi residential market is expected. R E A L T Y N E W S To read full story and more news go to Q&A Abhishek Jain Managing Director Angel Group How has the city performed in the last quarter? Why? The affordable category, primarily the sub Rs lakh budget range, is performing much better across major cities in India in comparison to the budget range of Rs 50 lakh and above. The strict monetary regulations due to high inflation, RBI not releasing funds easily, home loans difficult to get, impending elections and property prices reaching peak levels by the end of last year have propelled this turn around. In Delhi NCR, price levels have remained stable but the rate of increase might not have been as high as last year. Which budget ranges have done well in the last quarter? Why? Property prices between Rs lakh sold well in the last quarter of this financial year because of the slowdown in the real estate market. Small investments yielded good results in the past year. What type of property is in demand? Residential 1 or 2 bedroom flats are in demand, starting from Sq ft. Which areas or corridors have seen the maximum launches in the last quarter? Which areas are expected to see new launches/possession in the coming months? The maximum numbers of project launches in the last quarter were seen in Noida Expressway and Noida Extension. The maximum expected possession in the coming months will be in Indirapuram. At least 5-6 major residential projects are about to get delivered in the coming months. Any new infrastructure project that had an impact on the real estate market in the last few months or is expected to impact the market in the coming months? In Gurgaon, Sohna Road, Jaipur Highway-Bhiwadi has seen a tremendous growth due to excellent infrastructural development, in and around Haryana by the development authorities.

11 DELHI propindex.magicbricks.com 08 VOL4, ISSUE 1; APR-JUN, FY D E M A N D - S U P P LY A N A LY S I S Demand was largely concentrated on properties priced within Rs -100 lakh. However, supply was concentrated for properties worth Rs 1 crore and Above. Demand for affordable properties priced below Rs lakh was almost negligible. Apartments remained the preferred property type at the city level with 85 per cent demand and 91 per cent supply. Over-supply of premium properties was reflected in the BHK configurations also. Larger units (4BHK and Above) were over-supplied with more than 25 per cent availability. With nearly 45 per cent demand, 2BHK units were the most preferred category. The 3BHK category was also popular with more than per cent buyer interest in the Apr-Jun 14 quarter. Figures in percentage(%) Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above City Level Figures in Rs lakh Figures in percentage(%) 60 - City Level (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot BHK Configuration - City Level (Jan-Mar 14) (Apr-Jun 14) 7 4 1BHK 2BHK 3BHK 4BHK & above Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above Figures in Rs lakh (Jan-Mar 14) (Apr-Jun 14) 3 3 Apartment Residential House Residential Plot (Jan-Mar 14) (Apr-Jun 14) BHK 2BHK 3BHK 4BHK & above l Maximum demand was noted for the Rs - lakh budget range, a rise of 8 per cent from the previous quarter. However, supply in the category remained low at 10 per cent, registering a mismatch l While almost uniform demand was noted in the Rs -100 lakh, Rs 1-2 crore and Rs 2 crore and Above categories, supply (48%) was largely concentrated in the Rs 2 crore and Above category in the current quarter l Demand for apartments (85%) moved up by 8 per cent during the Apr-Jun 14 quarter as compared to the previous quarter. Supply remained almost unchanged and led demand by 6 per cent l Supply for plots lagged behind the existing demand by 7 per cent in this quarter. However, demand (10%) dropped by 4 per cent. Demand and supply for residential houses remained low, with demand dropping by 4 per cent - City Level l Demand for 2 and 3BHK units moved up by 2-4 per cent in the Apr-Jun 14 quarter. While 2BHK units were the most preferred at 44 per cent demand, 3BHK units followed a close second with 41 per cent demand l A significant over-supply of 22 per cent was noted for larger units (4 BHK and Above). Supply was stable at 26 per cent in the last six months, while demand witnessed a drop of 3 per cent

12 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com DELHI & - South Delhi Most of the supply in the zone was concentrated in the Rs 2 crore and Above category. With nearly 80 per cent availability in this segment an over-supply of 30 per cent was recorded in the zone. However, it remained the preferred budget range for buyers with nearly 45 per cent demand. The 3BHK category was the most preferred and supplied category in the quarter. On the other hand, demand for 2BHK units considerably led supply, resulting in a mismatch. Supply was lower than demand at 12 per cent while demand was at 35 per cent Rs < lakh Rs - lakh Rs -100 lakh Rs 1-2 crore Rs 2 crore and above l Almost 45 per cent demand was noted for high-end properties worth above Rs 2 crore. A significant over-supply of 30 per cent was recorded in the segment with 77 per cent availability in the Apr-Jun 14 quarter l Demand moved up by 5 per cent in the Rs - lakh segment to settle at 23 per cent in the current quarter. However, supply lagged behind by 18 per cent in the current quarter. The Rs -100 lakh category was also under-supplied by 13 per cent l While demand in South Delhi witnessed fluctuations in the last six months, supply in the zone stayed almost stable in the last two quarters (Jan-Mar 14 and Apr-Jun 14) Apartment Residential house Residential plot l Supply in the zone remained almost stable in the last six months across categories. Demand for apartments moved up by 6 per cent from the Jan-Mar 14 quarter. Supply led demand by 8 per cent to stand at 89 per cent l Demand for houses witnessed a marginal drop of 4 per cent in the current quarter and stood at 6 per cent. Supply in the category kept pace with demand with 7 per cent availability l Plots were the most preferred property type, after apartments, demand (13%) in the category still dropped by 2 per cent, in the Apr-Jun 14. However, supply for the same category was significantly lower at 4 per cent BHK 2 BHK 3 BHK 4 BHK & above l South Delhi recorded the highest demand for 3BHK units with nearly 45 per cent buyer interest. This was an increase of 3 per cent from the previous quarter. Supply matched demand at 46 per cent in the current quarter l There was a considerable mismatch in the demand and supply of 2 BHK units. While demand inched up 2 per cent in the current quarter to settle at 35 per cent, supply fell short of demand by 23 per cent l A significant mismatch of 10 per cent was also noted in the demand and supply of 1BHK units. While demand was at 14 per cent supply stood at 4 per cent during the Apr-Jun 14 quarter

13 DELHI propindex.magicbricks.com 10 VOL4, ISSUE 1; APR-JUN, FY & - North Delhi There was excess supply for apartments in the zone. Supply in this category led demand by 13 per cent. A healthy demand of per cent was noted for plots in North Delhi. As far as BHK configuration was concerned, supply for both 2 and 3BHK units witnessed a drop in the Apr-Jun 14 quarter. This led to an undersupply of 10 and 3 per cent respectively, in both the categories. Properties worth Rs - lakh and above Rs 2 crore were over-supplied this quarter. Demand, on the other hand, was found to be highest for properties priced at Rs -100 lakh Rs < lakh Rs - lakh Rs -100 lakh Rs 1-2 crore Rs 2 crore and above l In North Delhi, majority of the demand (%) was concentrated for properties worth Rs -100 lakh. Supply lagged by 13 per cent to stand at 27 per cent. This was a drop of 5 per cent from the Jan-Mar 14 quarter l Supply in the zone was almost equally distributed (23-27%) in all the budget ranges except in the Upto Rs lakh category. Maximum rise in supply was noted for high end properties priced over Rs 2 crore l An over-supply of 6 per cent was noted in the Rs - lakh category while the Rs 2 crore and Above category was over-supplied by 9 per cent. Almost negligible demand and supply was noted for affordable properties priced below Rs lakh Apartment Residential houses Residential plot l Apartments were the most preferred property type with 73 per cent demand, a rise of 2 per cent from the Jan-Mar 14 quarter. However, a significant over supply of 13 per cent was witnessed in the category. Localities such as Rohini Sector-9 and Pitumpura contributed towards this supply l Demand and supply of plots remained almost unchanged since the previous quarter. A healthy demand of per cent was noted while supply lagged behind by 11 per cent l Demand and supply for residential houses remained low. While demand dropped by 4 per cent during the Apr-Jun 14 quarter supply inched up marginally matching the demand in the category BHK 2 BHK 3 BHK 4 BHK & above l While demand for 2BHK units remained almost stable in the last six months at 47 per cent, a drop of 7 per cent was noted in the supply of this category, which settled at 37 per cent in the Apr-Jun 14 quarter as against the 44 per cent in the previous quarter l A similar trend was noted for 3BHK units. While demand inched up by 2 per cent in the current quarter, supply dropped by 4 per cent to 29 per cent as compared to the 33 per cent supply noted in the previous quarter l Moderate demand of 17 per cent was noted for 1 BHK units. However, this was a drop of 2 per cent from the previous quarter. Supply inched up by 2 per cent to settle at 15 per cent

14 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com DELHI & - West Delhi More than 90 per cent demand and supply was noted for apartments in the western zone. Demand in the category moved up by 6 per cent during the current quarter. Both 2 and 3BHK units were preferred in the zone. While 2BHK units led demand with 46 per cent buyer interest, 3BHK units followed close with 42 per cent demand in the Apr-Jun 14 quarter. However, there was an over-supply of 3BHK units in this zone. Properties priced above Rs 1 crore were the most supplied. However, demand was largely limited to the Rs - lakh budget range in the current quarter Rs < lakh Rs - lakh Rs -100 lakh Rs 1-2 crore Rs 2 crore and above l There was complete mismatch between the demand and supply in West Delhi. While the maximum demand of 41 per cent was noted in the Rs - lakh category, supply (44%) was concentrated in the Rs 1-2 crore range l The Rs - lakh category was the only category that witnessed a rise in demand (11 per cent). All other categories witnessed a drop of 1-5 per cent in demand during the Apr-Jun 14 quarter l An equal supply of 16 per cent was noted for the Rs - lakh and the Rs 2 crore and Above category. This was a rise of 3-4 per cent from the previous quarter. Supply dropped by 4 per cent in the Rs -100 lakh range Apartment Residential house Residential plot l Demand and supply for apartments in West Delhi saw a rise during the Apr-Jun 14 quarter. While demand noted a rise of 6 per cent in the current quarter, supply moved up by 2 per cent. The demand (92%) was almost synonymous with supply (95%) l Preference for plots saw a downward trend in the current quarter. Demand for the same dropped from 8 to 4 per cent in the Apr-Jun 14 quarter. However, supply remained negligible, as was visible in the previous quarter l Supply for residential houses matched the existing demand in the category during the current quarter. Demand witnessed a marginal drop of 2 per cent from the Jan-Mar 14 quarter BHK 2 BHK 3 BHK 4 BHK & above l Nearly 90 per cent demand was concentrated for 2 and 3BHK units. Both categories witnessed a rise in demand. While 2BHK category saw a demand of 46 per cent, a rise of 3 per cent from the previous quarter, 3BHK units saw a demand of 42 per cent l Supply for 2BHK units fell short of the existing demand by 18 per cent while an over-supply of 11 per cent was noted for 3BHK units in the Apr-Jun 14 quarter l A mismatch in demand supply was also noted in the 1BHK and 4BHK and Above categories. While 1BHK units were under supplied by 3 per cent, an over-supply of 10 per cent was noted for larger homes in the Apr-Jun 14 quarter

15 DELHI propindex.magicbricks.com 12 VOL4, ISSUE 1; APR-JUN, FY & - East Delhi Buyer interest was largely inclined towards apartments in East Delhi with nearly 90 per cent demand. Supply in the zone was also likewise aligned with nearly 95 per cent availability. The zone recorded the highest demand for 2BHK units across all zones with 50 per cent buyer interest. An over-supply of 9 per cent was noted for 3BHK units. Demand moved up for premium properties priced between Rs 1-2 crore. A rise of 13 per cent was noted as compared to the previous quarter. Even though supply dropped in the category in the current quarter, it led demand by 12 per cent Rs < lakh Rs - lakh Rs -100 lakh Rs 1-2 crore Rs 2 crore and above l Both demand and supply was the highest in the Rs 1-2 crore category. Demand settled at 37 per cent in the current quarter, a rise of 13 per cent from the previous quarter. Supply, on the other hand, dropped by 7 per cent to settle at 49 per cent l In the Rs - lakh range a demand of 18 per cent was recorded, a drop of 6 per cent from the previous quarter. Demand for the Rs -100 lakh settled at 26 per cent, a drop of 8 per cent from the previous quarter l Both demand and supply recorded a rise of 2 per cent in the Rs 2 crore and Above category during the Apr-Jun 14 quarter Apartment Residential house Residential plot l Apartments remained the most preferred and supplied property type in East Delhi. As compared to the previous quarter, demand (89%) inched up by 3 per cent and supply (94%) dropped marginally during the Apr-Jun 14 quarter l Localities such as Indraprastha Extension, Mayur Vihar Phase-I and Vasundhara Enclave recorded the highest supply of apartments l Demand in the other categories (residential houses and plots) dropped marginally in the current quarter. Almost negligible supply (3%) was noted for both residential houses as well as for plots. Supply for plots fell short of the demand by 4 per cent. This difference was at 6 per cent in the Jan-Mar 14 quarter BHK 2 BHK 3 BHK 4 BHK & above l East Delhi witnessed the highest demand for 2BHK units across zones with 50 per cent buyer interest. This was an increase of 4 per cent from the previous quarter. Supply also inched up by 3 per cent even though it fell short of demand by 8 per cent l An over-supply of 6 per cent was noted for 3BHK units even though supply dropped by 3 per cent in the current quarter. While supply settled at 44 per cent, demand remained unchanged at 38 per cent l Preference for smaller units dropped in the zone. A drop of 1-2 per cent was noted in the demand and supply of 1 BHK units in the current quarter

16 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON PROPINDEX - GURGAON E d i t o r i a l Similar to the previous quarter, the Gurgaon City Index rose by 1 per cent in the Apr-Jun 14 quarter as well. The Listed Price Monitor, on the other hand, remained stable during the same period, unlike the previous quarter where it recorded a drop of 1 per cent. The NPI rose by 1 per cent Key Takeaways l At the city level, a marginal increase in availability was noted in the Apr-Jun 14 quarter. Sector 71 recorded the maximum increase in the availability of sale/re-sale properties, closely followed by Sector 67 l No major change was recorded in the average capital values in the current quarter. However, the rental market showed a drop, unlike the previous quarter l Overall, the availability of properties on lease went up in the current quarter as compared to the previous quarter. Sohna Road and Sectors 47 and 56 witnessed the maximum rise l The Yield Meter exhibited 2-3 per cent rental returns on investment in the city. DLF Phase-V, Golf Course Road and Sohna Road offered maximum options for lease. Of these, Sohna Road offered the highest rental returns at 2.39 per cent l Sohna Road continued to be the most preferred residential destination, owing to commercial offices and large scale residential development along the corridor l The supply of 3BHK units was over 50 per cent across the city. Almost similar demand was noted for the category across the city, except localities falling under the Old Gurgaon (Sectors 1-24) l Maximum demand was registered for units worth Rs 1-2 crore, closely followed by properties worth Rs lakh in the current quarter l Maximum demand was witnessed for the budget range of Rs lakh in the New Developing Sectors (81-95) and residential pockets of Manesar l Merely 1-3 per cent increase or drop was registered in the demand and supply of residential housing. Multi-storey apartments recorded the highest demand l Residential plots continued to be the second most preferred category. The localities of Old Gurgaon, Manesar and New Gurgaon recorded the maximum demand in the current quarter Dr DB Gupta Senior Consultant, NCAER Former HDFC Chair Professor, HUF Gurgaon is the hub of many important commercial offices. Property market in areas close to Gurgaon, such as Manesar and Gurgaon-Faridabad stretch, is growing due to the high prices in Gurgaon. Unlike Delhi and Noida, the City Index for Gurgaon increased by 1 per cent. While Sector 73 experienced a fall in capital values, Sector 67 and Sohna Road experienced an increase. Sohna Road and Palam Vihar were the most popular localities for purchase. New Gurgaon and NH-8 are likely to see expansion in future. The rental market registered a slowdown in most of the localities. The rental yield was mostly higher than 2 per cent, better than the yield in Delhi NCR. Sohna Road and Sector 56 were the most popular localities for rent. There was a greater supply of apartments than demand while there was a shortfall in the supply of residential plots. An increasing demand for apartments in the price range of over Rs 1 crore was noted. The demand and supply was highest for 3BHK apartments. The demand was skewed towards 2BHK apartments, while the supply was more towards the 4BHK and Above category. Sohna Road saw an increasing supply of high-end and 4BHK and Above apartments, while there was a shortage of 2BHK apartments. In Old Gurgaon, an oversupply of 3 and 4BHK properties was seen, but the market is adjusting by increasing the supply of 1 and 2BHK homes. A huge unmet demand of 2BHK properties was also noted. New Gurgaon and Golf Course Extension Road experienced an increased supply and demand of high-end properties of Rs 2 crore and Above. Affordable market of Rs lakh is expanding to Dwarka Expressway, Manesar and other New Developing Sectors.

17 GURGAON propindex.magicbricks.com 14 VOL4, ISSUE 1; APR-JUN, FY L I S T E D P R I C E M O N I T O R R E N T M O N I T O R 0% l The Listed Price Monitor for Gurgaon remained stable during the Apr-Jun 14 quarter. This was largely due to the drop in the capital values witnessed in most localities l The drop in capital values ranged from 1-4 per cent in the present quarter l Sohna Road, Golf Course Road and Sector 67 were the only localities that saw a nominal increase of 1-2 per cent in capital values. Sectors 47, 70, 81, 82 and 92 reported no change l Maximum drop in capital values was observed in Sector 73, while the minimum dip was observed in DLF City Phase V and Sector 84 l Contrary to the previous quarter, almost 85 per cent of the localities in the city witnessed a drop in rental values in the Apr-Jun 14 quarter l Golf Course Road and Palam Vihar reported the maximum drop of 8 per cent in the current quarter l Sectors 27, 48 and South City-I were the only localities that registered a rise in rental values. A rise of 2 per cent was observed in each of these localities in the current quarter l A drop of 5-6 per cent in rental values was observed in localities such as Sector 43, Nirvana Country, MG Road, Ardee City and Sohna Road in the Apr-Jun 14 quarter Y I E L D M E T E R Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Dlf City Phase-V , % Dlf City Phase-IV , % Golf Course Road , % Sector , % Sushant Lok , % Sector , % Sector , % Dlf City Phase-II , % Sector , % Dlf City Phase-I.50 9, % l During the Apr-Jun 14 quarter, the Yield Meter noted a range of per cent which was almost similar to the previous quarter. Stable rental and capital values was the major reason l Sushant Lok clocked the highest rental yield of 2.99 per cent among all other localities, followed by Sector 52 which marked 2.86 per cent gross yield l Sector 54 recorded the lowest gross yield of 1.97 per cent in the current quarter. The locality registered a drop of 4 per cent in the rental values while the capital values increased by 5 per cent l Other localities with high rental returns included Sector 56, DLF City Phase-I and II with rental yield ranging from per cent

18 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON PREFERRED LOCALITIES SALE RENT Locality Rank Capital %age Q1 Q4 Values change Sohna Road to % Palam Vihar to % Golf Course Road to % Sector to % Sector to 90-2% Golf Course Extn Road to % Dwarka Expressway to % Nirvana Country to Sushant Lok-I to % Sector to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 Locality Rank Rental %age Q1 Q4 Values change Sohna Road to % Sector to % Golf Course Road to % Nirvana Country to % DLF City Phase-III to % DLF City Phase-IV to % Palam Vihar to % DLF City Phase-II to % DLF City Phase-V to % Sushant Lok-I to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 l Sohna Road continued to be the most preferred locality for sale in Gurgaon since the last one year. The locality saw a nominal rise of 1 per cent in capital values in the current quarter l Even though Palam Vihar saw a drop of 1 per cent in capital values, the locality retained its second position in the list l Sector 92 was a new entrant in the top ten preferred localities for sale in the current quarter. The sector offered the lowest capital values l Golf Course Road and Nirvana Country improved their standing in the list by moving up two positions in the current quarter l Dwarka Expressway saw the biggest drop by slipping down three positions to settle at the seventh slot l Sector 57 and Golf Course Extension Road gained one position each while Sector 56 and Sushant Lok-I dropped one slot in the current quarter l Sohna Road and Sector 56 continued to retain their top slots as the preferred rental areas l Golf Course Road climbed two positions to occupy third slot replacing Nirvana Country which dropped to the fourth position l Palam Vihar and Sushant Lok-I registered a dropped of 8-9 per cent in rental values in the present quarter and slipped three positions each to settle at seventh and tenth positions, respectively l DLF City Phase-IV improved its standing in the list of preferred localities for rent by moving up to the sixth spot as compared to the ninth position it occupied in the Jan-Mar 14 quarter l Golf Course Road, DLF City Phase-IV and V commanded the highest rental values in Gurgaon l Even though DLF City Phase-II registered a significant drop of 10 per cent in rental values in the current quarter, the locality continued to hold its eight position in the list Home in your Budget Upto Rs - Lakh Sohna Road, Sohna, Sector-79, Golf Course Road Rs -60 Lakh Sector-37D, Sector-82, Sector-83, Sector-91, Sector-92 Rs Lakh Sector-69, Sector-70, Sector-71, Sector-82, Sector-83 l Sohna Road and Golf Course Road offer both affordable and premium properties. Both locations noted high supply in the Upto Rs lakh and Rs 2 crore and above segments l Supply of properties worth Rs -100 lakh was high in Sectors 82 and 83 Rs Lakh Rs 2 Crore & Above Sector-51, Sector-56, Sector-66, Golf Course Extension Golf Course Road, Sushant Lok - I, Dlf City Phase V l Premium properties worth Rs 2 crore and Above were high in DLF City in the current Apr-Jun 14 quarter

19 GURGAON propindex.magicbricks.com 16 VOL4, ISSUE 1; APR-JUN, FY Broker Gaurav Johar Anmol Propmart Gurgaon Consultant Kinni Gujral Associate Director Colliers International R E A L T Y N E W S Expanding its footprints to New Gurgaon, many investment avenues have opened for affordable and high-end properties. With the growing IT set-ups, the city is becoming popular among young buyers, as per the IIM-B-Magicbricks Housing Sentiment Index (HSI) survey. New Gurgaon, NH-8 hold promise in Gurgaon Multi-level developments in terms of infrastructure and commercial activities have spurred the residential property segment in New Gurgaon and NH-8. The residential segment has a slew of projects ranging from affordable to high-end, low-rise to high-rise, condominiums, huge penthouses and villas, owing to the growing purchasing power among the younger generation. New Gurgaon, the area along the NPR (Northern Peripheral Road) zones, holds potential due to its proximity to the airport and Delhi. n Times Property, The Times of India, Delhi/NCR Young buyers keen on Gurgaon market Gurgaon has grown on the back of the IT revolution that hit the city several years ago. It may not be wrong to assume that the IT professionals have given great impetus to the residential market of the city. As per the latest edition of the IIM-B Magicbricks Housing Sentiment Index (Jan-Mar 14), buyers in the age group of years have the highest HSI (136), indicating that the younger lot are more positive about the market and expect prices to rise in Gurgaon as opposed to the older generation. n Magicbricks.com Bureau E X P E R T S P E A K Completion of the Dwarka Expressway will definitely be a game changer for the Gurgaon real estate market. Sentiments are much better here because of the changing skyline of Gurgaon with affordable products. With the new government coming in, people are actually talking about real estate investment, which they were avoiding till now because of the negative economic conditions and lack of liquidity in the market. Till last year, more than 70 per cent purchases were from investors for short term profits. The scenario is changing with cautious investor sentiment. Limited demand is seen from end users looking for ready-to-move-in houses. Despite high expectations quick revival was not experienced post elections. Any increase in prices is unlikely in the coming quarters. In the medium to long term prices are expected to increase with upcoming infrastructure. To read full story and more news go to Nikhil Jain-CEO, Ramprastha, Gurgaon Q&A How has the city performed in the last quarter? Why? Gurgaon is one of the growing markets since the last few decades. When the country was recovering from the slowdown and was stagnant, Gurgaon saw a constant augmentation. The city offers scope of growth with investors taking keen interest. Property prices have risen in new areas such as the Dwarka Expressway, KMP Expressway and Sohna Road. Which budget ranges have done well in the last quarter and why? Budget range of Rs 60 lakh to Rs1.5 crore have been in demand. The market is recovering from the slowdown and so investors are sceptical about spending large amount of money in highend projects. Thus, the mentioned budget range has been doing well. What type of property is in demand? Properties in the mid-segment have been doing well. Which areas or corridors have seen the maximum launches in the last quarter? Which areas are expected to see new launches/possession? Areas closer to the Dwarka Expressway, FNG Expressway, Southern Peripheral Road and KMP Expressway have witnessed construction of many large scale residential projects. Once the roads are functional, Gurgaon realty market will see a new high. These are expected to see new launches and possessions in the next quarter. Any new infrastructure project that had an impact on the real estate market in the last few months or is expected to impact the market in coming months? The ongoing infrastructure projects such as the Dwarka Expressway, FNG Expressway and KMP Expressway are slowly nearing completion. Once completed, the areas closer to these projects will see a new high.

20 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON D E M A N D - S U P P LY A N A LY S I S Premium properties priced over Rs 1 crore noted maximum demand and supply in the city. The Rs 1-2 crore and Rs 2 crore and Above categories together recorded 70 per cent demand with an almost corresponding supply of 64 per cent An oversupply of apartments was observed in the city where demand was 67 per cent while the supply was 81 per cent. Similar mismatch was seen in the plotted development where supply fell short of its demand by 15 per cent. The 3BHK units were the most demanded (55%) and supplied (52%) category. While an undersupply of 10 per cent was visible in the 2BHK category, the 4BHK and Above category saw an oversupply of 14 per cent Figures in percentage(%) Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above City Level Figures in Rs lakh Figures in percentage(%) BHK Configuration - City Level (Jan-Mar 14) (Apr-Jun 14) BHK 2BHK 3BHK 4BHK & above - City Level (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above Figures in Rs lakh (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot (Jan-Mar 14) (Apr-Jun 14) BHK 2BHK 3BHK 4BHK & above l The Rs 1-2 crore category registered maximum demand and supply. The category saw 39 per cent demand and 34 per cent supply. Demand and supply for the Rs 2 crore and Above category was similar at per cent l Demand (23%) and supply (26%) was noted for the Rs lakh category. The Upto Rs lakh and Rs -60 lakh categories together recorded 7 per cent demand and 10 per cent supply l An oversupply of apartments was noted, as in the previous quarter. The category recorded 67 per cent demand while the supply stood at 81 per cent l Similar mismatch was observed in the plotted development category. Supply for plots fell short of demand by 15 per cent, with demand at 27 per cent and supply at 12 per cent. Demand and supply for residential houses remained synonymous at 6-7 per cent. - City Level l The 3BHK category was the most preferred, registering a demand of 55 per cent, an increase of 5 per cent. Supply stood at 52 per cent, registering a small drop of 2 per cent in the current quarter l The 2BHK category was the next preferred with 30 per cent demand. Supply fell short by 10 per cent. Demand and supply of 1BHK units was negligible, while there was an oversupply of 14 per cent in the 4BHK and Above category

21 GURGAON propindex.magicbricks.com 18 VOL4, ISSUE 1; APR-JUN, FY & - Sohna Road, Gurgaon An undersupply was observed in properties priced above Rs 1 crore. The Rs 1-2 crore and the Rs 2 crore and Above categories recorded 62 per cent demand while supply was 50 per cent. Supply for Upto Rs lakh category saw a significant rise of 12 per cent The 2 and 3BHK categories registered a consolidated demand of 86 per cent. Supply was 75 per cent. The 4BHK and Above category reported an oversupply of 13 per cent. Apartments were the most preferred property type in the zone with 78 per cent demand and 81 per cent supply Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l An oversupply of 9 per cent was witnessed in the Upto Rs lakh category. The category saw a sudden rise of 12 per cent in supply while demand remained at 7 per cent. Demand and supply for the Rs -60 lakh category was synonymous at 7 per cent l The demand for Rs lakh category dropped by 5 per cent to stand at 24 per cent while supply was almost corresponding at 27 per cent l Demand and supply mismatch was observed in the higher budget ranges. While the demand for Rs 1-2 crore category was 37 per cent, its supply was 30 per cent. The Rs 2 crore and Above saw 25 per cent demand and per cent supply Apartment Residential house Residential plot l Apartments recorded a 78 per cent demand, a negligible drop of 1 per cent from the previous quarter. The supply for the same stood at 81 per cent, witnessing a drop of 6 per cent over the Jan-Mar 14 quarter. Maximum supply for apartments was recorded in Sectors l Demand for residential plots increased by 4 per cent, while the supply recorded a rise of 8 per cent in the current quarter. The category recorded a 19 per cent demand and a 14 per cent supply, registering a mismatch l The demand and supply for residential houses was almost equal. There was 3 per cent demand and 5 per cent supply for the same in the current quarter BHK 2 BHK 3 BHK 4 BHK & above l As observed in the previous quarter, there was considerable demand and supply for the 3BHK category in the zone. While the demand was 50 per cent, consistent with the previous quarter, supply saw a nominal drop of 3 per cent and stood at 53 per cent l For the 2BHK category, demand was 36 per cent and supply 22 per cent, a small variation of 1-2 per cent from the previous quarter. The demand and supply for the 1BHK category was marginal with 5 and 3 per cent respectively l The 4BHK and Above category reported a mismatch of 13 per cent in the present quarter. The category registered an oversupply at 22 per cent while demand was merely 9 per cent

22 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON & - Old Gurgaon In Old Gurgaon, the Rs 1-2 crore category continued to garner highest demand (33%) while the Rs lakh and Rs 2 crore and Above categories followed closely with 23 and 27 per cent demand respectively The 2BHK category saw 46 per cent demand, highest among all zones while its supply fell short by 22 per cent. An oversupply was registered in the 3BHK and 4BHK and Above categories. A significant demand of 46 per cent for plots was witnessed while its supply was insufficient at 28 per cent. Supply of apartments led its demand by 17 per cent Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l Demand for the Rs 1-2 crore category remained consistent with the previous quarter at 33 per cent. Its supply witnessed a significant drop of 13 per cent in the current quarter and stood at 37 per cent l The Rs 2 crore and Above category gained popularity. The category saw a rise of 5 per cent in demand and stood at 27 per cent and supply was corresponding at 29 per cent l The Upto Rs lakh and the Rs -60 lakh categories together recorded 17 per cent demand and 15 per cent supply. There was 23 per cent demand and 19 per cent supply for the Rs lakh category. Supply for the same saw a rise of 6 per cent Apartment Residential house Residential plot l Among all zones, Old Gurgaon recorded the maximum demand for plots while the supply for the same remained half of it. The category recorded a demand of 46 per cent. Its supply was 28 per cent, a drop of 6 per cent from the previous quarter l There was an oversupply of apartments in the Apr-Jun 14 quarter. Supply of apartments led demand by 17 per cent. Demand for apartments was strictly concentrated to Palam Vihar l Both demand and supply for residential houses saw a drop of 3 and 6 per cent respectively, in the present quarter. While the demand stood at 17 per cent, the supply matched it closely at 18 per cent in the Apr-Jun 14 quarter BHK 2 BHK 3 BHK 4 BHK & above l Among all zones, Old Gurgaon registered maximum demand for the 2BHK category. The demand was 46 per cent, a drop of 4 per cent from the previous quarter. Supply fell short of demand by a significant 22 per cent l Similar mismatch was registered in the 3BHK category, where supply led demand by 8 per cent. There was 38 per cent demand while the supply for the same stood at 46 per cent l A negligible demand of 5 per cent was noted for the 4BHK and Above category, while the supply was 23 per cent, registering a gap of 18 per cent. The zone recorded 11 per cent demand for the 1BHK category while supply stood at 7 per cent

23 GURGAON propindex.magicbricks.com VOL4, ISSUE 1; APR-JUN, FY & - New Gurgaon Supply for apartments led demand by 17 per cent. The category noted 72 per cent supply and 55 per cent demand. Supply for plotted development fell short of demand by 18 per cent Properties priced above Rs 1 crore witnessed maximum demand and supply. The Rs 1-2 crore and Rs 2 crore and Above categories together recorded 83 per cent demand and 85 per cent supply. A significant demand of 58 per cent was registered for the 3BHK category followed closely by supply at 52 per cent. An oversupply of 19 per cent was registered in the 4BHK and Above category Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l Demand and supply was inclined towards the higher budget range. The Rs 1-2 crore and the Rs 2 crore and Above categories together recorded 83 per cent demand and 85 per cent supply l Individually, the Rs 1-2 crore category noted a corresponding demand (%) and supply (38%). Demand increased by 3 per cent and supply dropped by the same. There was 43 per cent demand and 47 per cent supply for the Rs 2 crore and Above category l Both demand and supply for the Rs lakh category saw a drop of 4 per cent. The category saw 14 per cent demand and 10 per cent supply. There was negligible demand and supply for properties in the lower budget range Apartment Residential house Residential plot l Demand and supply of apartments in the Apr-Jun 14 quarter was almost similar to that of the previous quarter. The category recorded a demand of 55 per cent, while the supply for the same was 72 per cent. A disparity of 17 per cent was registered l Plots were the second most demanded and supplied property type. The category recorded a 38 per cent demand and per cent supply. The demand was restricted to DLF City Phase-I, II, III and IV, Sectors 46 and 57, South City-II and Sushant Lok-I l Demand and supply for residential houses was almost similar to the previous quarter. While the demand was 7 per cent, its supply stood at 8 per cent BHK 2 BHK 3 BHK 4 BHK & above l The 2 and 3BHK categories registered a consolidated demand of 83 per cent in the Apr-Jun 14 quarter. The two categories registered 65 per cent supply during the same period l Individually, the demand and supply in the 2BHK category registered a mismatch of 12 per cent. While demand for the same was 25 per cent, supply stood at 13 per cent. The 3BHK category had 58 per cent demand, closely followed by supply at 52 per cent l Supply for the 4BHK and Above category led demand by 19 per cent. The category saw 14 per cent demand while supply stood at 33 per cent. The demand (3%) and supply (2%) for the 1BHK category was negligible in the zone

24 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON & - Dwarka Expressway, Gurgaon In Dwarka Expressway, apartments were the most preferred property type with 82 per cent demand. The supply exceeded demand by 9 per cent and stood at 91 per cent. Though plots were high in demand (16%) in the zone, its supply was merely 5 per cent The 2 and 3BHK categories recorded a consolidated demand of 93 per cent while the supply more or less matched the demand at 85 per cent. Maximum demand (41%) in the zone was observed for the Rs lakh category, while its supply saw 48 per cent in the current quarter Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l The Rs lakh category remained the most demanded and supplied. Both demand and supply saw a rise of 3 per cent in the current quarter. The category saw 41 per cent demand and 48 per cent supply l Demand for the Rs 1-2 crore category was 36 per cent, a small rise of 3 per cent from the previous quarter. Supply for the same stood at 31 per cent, dropping by 5 per cent. Demand and supply for the Rs 2 crore and Above category was almost similar at per cent l The Upto Rs lakh category saw 4 per cent demand and 2 per cent supply while the Rs -60 lakh recorded a 7 per cent demand and 9 per cent supply Apartment Residential house Residential plot l Apartments saw a demand of 82 per cent, a 7 per cent rise over the previous quarter. Supply for the same stood ahead at 91 per cent, gaining 5 per cent from the Jan-Mar 14 quarter l Plots remained the second most preferred property type with 16 per cent buyers demanding it. However, as observed in previous quarter, its supply remained well behind demand with merely 5 per cent availability l Both demand and supply of residential houses witnessed a marginal drop in the current quarter. While the demand stood at 2 per cent, supply was 4 per cent. This was a marginal drop of 2 and 5 per cent respectively over the Jan-Mar 14 quarter BHK 2 BHK 3 BHK 4 BHK & above l Similar to the previous quarter, demand in Dwarka Expressway was inclined towards 3BHK category. The zone recorded 59 per cent demand for this category, a rise of 7 per cent from the previous quarter. Supply for the same was matching at 57 per cent l There was considerable demand of 34 per cent for the 2BHK category. Its supply was 28 per cent, a rise of 4 per cent over the previous quarter. Demand and supply for 2BHK category was restricted to Sector 103 l Supply for the 4BHK and Above category led demand by 9 per cent. The segment saw 14 per cent supply while demand for the same was merely 5 per cent in the current quarter

25 GURGAON propindex.magicbricks.com 22 VOL4, ISSUE 1; APR-JUN, FY & - Golf Course Extension Road, Gurgaon Among all zones, the Golf Course Extension Road registered maximum demand (93%) and supply (90%) in the current quarter. An oversupply of 13 per cent was observed in the 4BHK and Above category. There was 18 per cent demand and 31 per cent supply Demand for the 3BHK category was 58 per cent, highest in the zone. Supply fell short of its demand by 8 per cent. Properties worth Rs 1 crore and Above saw a demand of 80 per cent while its supply was 71 per cent. Supply for the Rs lakh category led its demand by 9 per cent l As in the previous quarter, the Rs 1-2 crore category recorded the highest demand and supply. With 46 per cent demand and per cent supply, the category registered a mismatch of 6 per cent Rs < lakh Rs -60 lakh Rs lakh l Demand and Supply for the Rs 2 crore and Above category saw a 3 per cent rise. The demand for the category was 34 per cent while supply was almost matching at 31 per cent Rs 1-2 crore Rs 2 crore and above l There was an oversupply of 9 per cent in the Rs lakh category. While the demand was 17 per cent, supply stood well ahead at 26 per cent. Both demand and supply for the Upto Rs lakh and the Rs -60 lakh categories was synonymous at 1-2 per cent Apartment Residential house Residential plot l Demand for apartments was corresponding to its supply. The category recorded 93 per cent demand, highest among all zones, while the supply stood at 90 per cent. Sectors and the Golf Course Extension Road saw maximum demand for apartments l Demand and supply of all other categories witnessed minor variations. While the demand for residential houses was merely 2 per cent, supply at 7 per cent led demand by 5 per cent l A similar mismatch was observed in the plots category as well, where demand exceeded its supply by 2 per cent in the current quarter. Most of the demand for plotted development was generated in Sector-67 and Golf Course Extension Road l Golf Course Extension Road registered 58 per cent demand for the 3BHK category, a rise of 6 per cent from the previous quarter. Supply for the same remained constant at 50 per cent, falling short of demand by 8 per cent BHK 2 BHK 3 BHK l Similar to the previous quarter, the zone witnessed a mismatch of demand and supply in the 4BHK and Above category. While demand was 18 per cent, its supply was well ahead at 31 per cent BHK & above l Demand and Supply for 2BHK category was almost matching. While the demand was 23 per cent, a drop of 3 per cent from the previous quarter, supply stood at 18 per cent in the current quarter

26 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com GURGAON & - New Developing Sectors, Gurgaon In the New Developing Sectors, demand and supply for the 3BHK category was corresponding at 55 per cent. Demand for the 2BHK category was 37 per cent with supply at 31 per cent. The supply of 4BHK units exceeded demand The demand and supply for apartments remained synonymous at 91 per cent. The zone recorded maximum demand (57%) and supply (52%) for the Rs lakh category. An oversupply of 10 per cent was noted in the Rs -60 lakh category. The Rs 1-2 crore category saw 31 per cent demand and 27 per cent supply Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l The Rs lakh and the Rs 1-2 crore categories continued to remain the most preferred in the zone. The categories registered a consolidated demand of 88 per cent and supply of 79 per cent l Individually, the Rs lakh category saw 57 per cent demand, highest in the zone, closely followed by supply at 52 per cent. There was 31 per cent demand and 27 per cent supply for the Rs 1-2 crore category in the current quarter l Supply for the Rs -60 lakh category led its demand by 10 per cent with 7 per cent demand and 17 per cent supply. The Upto Rs lakh and the Rs 2 crore and Above categories saw negligible demand and supply in the zone Apartment Residential house Residential plot l Supply of apartments kept pace with its demand with both remaining firm at 91 per cent. Demand and supply of apartments in the Apr-Jun 14 quarter saw a rise of 2 and 5 per cent respectively l There was a negligible demand for residential houses with just 1 per cent buyers opting for it. Supply for the same stood at 4 per cent, a slight dip of 3 per cent from the previous quarter l Demand for residential plots led its supply by 3 per cent in the current quarter. The category recorded 8 per cent demand, a drop of 4 per cent from the previous quarter. Its supply was 5 per cent, a small rise of 1 per cent from the previous quarter BHK 2 BHK 3 BHK 4 BHK & above l Demand and supply for the 3BHK category was synonymous in the current quarter. The category recorded 55 per cent demand, a rise of 8 per cent from the previous quarter. Supply closely met demand and stood at 54 per cent l The 2BHK category registered 37 per cent demand and 31 per cent supply. Demand for the same saw a drop of 5 per cent while a nominal rise of 1 per cent was registered in the supply l There was an oversupply of larger homes of 4BHK and Above configuration. Where demand for the category was 8 per cent, supply was 14 per cent in the current quarter, exceeding demand by 6 per cent

27 GURGAON propindex.magicbricks.com 24 VOL4, ISSUE 1; APR-JUN, FY & - Manesar, Gurgaon In Manesar, mismatch was observed in the demand and supply of all the budget ranges. While an undersupply of 10 per cent was observed in the Rs -60 lakh and Rs 1-2 crore categories, the Rs lakh category saw an oversupply of 25 per cent Demand for the 3BHK category was 54 per cent while its supply was 65 per cent, registering a mismatch of 9 per cent. Similar mismatch was observed in the 2BHK and 4BHK and Above categories. Apartments and residential houses witnessed an oversupply while plotted development registered an undersupply in the present quarter Rs < lakh Rs -60 lakh Rs lakh Rs 1-2 crore Rs 2 crore and above l Both demand and supply for the Rs -60 lakh category saw a rise of 6-7 per cent. The demand stood at 24 per cent while the supply was 14 per cent, registering a gap of 10 per cent l Demand of 39 per cent was noted for the Rs lakh category, a rise of 3 per cent over the previous quarter. Supply for the same saw a significant drop of 9 per cent and stood at 64 per cent l Though supply for the Rs 1-2 crore category saw an increase of 8 per cent in the current quarter, it remained well behind its demand. The category saw 26 per cent demand and 16 per cent supply, registering a mismatch of 10 per cent Apartment Residential house Residential plot l Demand for apartments saw a rise of 6 per cent in the present quarter and stood at 68 per cent. Supply for the same remained unchanged with 86 per cent availability l There was an oversupply of residential houses in the current quarter with supply leading its demand by 6 per cent. Supply for the same saw a 5 per cent increase and stood at 9 per cent while the demand was merely 3 per cent registering a mismatch l Plots were the second most demanded and supplied property type in Manesar. However, both demand and supply saw a drop of 5 per cent in the current quarter. While the demand for the same was 29 per cent, its supply fell short by 24 per cent BHK 2 BHK 3 BHK 4 BHK & above l There was an increase of 7 per cent in the demand of 3BHK category in the Apr-Jun 14 quarter. The category saw a demand of 54 per cent while the supply stood at 65 per cent, a significant drop of 9 per cent when compared to the previous quarter l The 2BHK category registered a demand of 36 per cent, consistent with the previous quarter. The supply for the same was a meager 11 per cent, registering a mismatch of 25 per cent l Mismatch was also seen in the 4BHK and Above category. The supply was 24 per cent, a rise of 6 per cent from the previous quarter, while the demand for the same was merely 7 per cent

28 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD PROPINDEX - NOIDA-GHAZIABAD E d i t o r i a l As in the previous quarter the City Index in Noida remained stable in the Apr-Jun 14 quarter. The Listed Price Monitor also remained unchanged. The City Index for Ghaziabad also remained stable in the current quarter as compared to the 1 per cent drop recorded in the Jan-Mar 14 quarter. Key Takeaways Noida l Over 50 per cent localities in Noida recorded 0-5 per cent rise in average capital values. On the other hand, close to 45 per cent of the total localities registered a drop between 1-5 per cent. This kept the Listed Price Monitor unchanged l Increase in availability of residential apartments for sale coupled with an overall stability in average capital values arrested the growth of the City Index in the current quarter l Except for a few well established sectors in Noida, the residential market registered an overall drop in average rental values, primarily owing to a drop in asking values l Sector 92 along the Noida- Greater-Noida Expressway offered maximum gross yield at 3.42 per cent. All other sectors offered rental returns between per cent l Demand for 2BHK units outstripped supply across regions in the city Ghaziabad l Unlike other parts of Delhi- NCR, Ghaziabad noted a rise between 1-3 per cent in capital values. Lal Kaun at 11 per cent was an exception l Rental market noted increase or drop in monthly lease within a range of minus 2 to 8 per cent. Vasundhara registered the maximum drop after recording an increase of 10 per cent in the previous quarter l On an average, the Ghaziabad residential market offered higher rental returns in comparison to Delhi, Noida and Gurgaon, with a minimum gross yield of 2.27 per cent l Demand of over per cent continued to be highest for properties worth Rs -70 lakh. Increase in demand was also noted for Rs 70 lakh and above, similar to supply with a marginal increase l Demand for 2BHK units continued to outstrip supply. However, an inverse trend was registered for 3BHK units Dr DB Gupta Senior Consultant, NCAER Former HDFC Chair Professor, HUF Both Noida and Ghaziabad have good educational infrastructure and are well connected to Delhi. Some well established sectors of Noida are connected to Delhi and are thus, popular housing destinations for the middle income groups. Due to their proximity to Delhi, property prices in Noida-Ghaziabad are influenced by the trends in Delhi. The City Index and the Listed Price Monitor of Noida and Ghaziabad remained unchanged. The change in average capital values ranged from -5 to +5 per cent in Noida. Sectors 50 and 76 remained the most preferred for sale. In Ghaziabad the capital values of Lal Kuan increased by 11 per cent while that of Mohan Nagar and Pratap Vihar increased by 5 per cent. The rental markets in Noida and Ghaziabad remained stable. The Yield Meter showed that Noida and Ghaziabad continued to offer better rental yields as compared to Delhi NCR. The yields were highest in Sectors 92 and 62 in Noida and in Indirapuram in Ghaziabad. The residential property market in Noida and Ghaziabad was dominated by apartments. Except in Old Noida, the supply of apartments was higher than demand. The highest demand was for the price band of Rs lakh at 45 per cent. The supply remained stagnant at 34 per cent. In Noida and Ghaziabad, the demand was greater than supply of 2BHK units while supply was greater than demand in the 3BHK properties. The only region to experience huge demand for 4BHK and Above properties was Old Noida. In Ghaziabad, there was an oversupply in the price band of Rs - lakh while demand was greater than supply in the Rs lakh category. There was a fear of the circle rates increasing in Noida and Ghaziabad. Wherein the demand may drop leading to slow down of the property market.

29 NOIDA-GHAZIABAD propindex.magicbricks.com 26 VOL4, ISSUE 1; APR-JUN, FY LISTED PRICE MONITOR - Noida RENT MONITOR - Noida 0% l Nearly 45 per cent of the tracked localities recorded a drop of 1-5 per cent in capital values during the Apr-Jun 14 quarter l Sector 62 recorded the highest drop of 5 per cent in capital values in the previous quarter l Sectors along the Noida Expressway and in proximity, Sectors 82, 93A, 128, 137 and 143 recorded positive price movements. Values either stayed stable or inched up by 1-5 per cent in these sectors in the current quarter l Sector 93A and B recorded the highest rise of 5 and 3 per cent respectively in capital values during the Apr-Jun 14 l As compared to the positive rental market observed in the previous quarter, rental values stabilised in the current quarter resulting in dropping values l Rental values in Sectors 29, 50, 62 and 82, which had witnessed a rise in the previous quarter, recorded a drop of 1-4 per cent l Sectors 28, 34 and 61, which had witnessed either a drop or stable values in the previous quarter continued their poor run, recording a drop of 4-9 per cent in the current quarter l On the other hand, rental values displayed a positive trend in Sectors 25, 35 and 52 with a rise of 7-10 per cent in the last six months YIELD METER - Noida Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Sector , % Sector , % Sector , % Sector ,0 2.64% Sector , % Sector , % Sector-93B , % Sector , % Sector , % Sector , % l The Magicbricks yield meter ranged from per cent during the Apr-Jun 14 quarter as compared to the per cent recorded in the previous quarter. Dropping rental values in the city restricted the yield meter this quarter l Sector 44 recorded the lowest rental yield in the Apr-Jun 14 quarter l As observed in the previous quarter, Sector 92 continued to clock the highest rental returns in Noida. It inched up from 3. to 3.2 per cent in the current quarter l Sectors in proximity to commercial sets-ups such as Sectors 61 and 62 recorded healthy rental returns to the tune of per cent

30 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD PREFERRED LOCALITIES - NOIDA SALE RENT Locality Rank Capital %age Q1 Q4 Values change Sector to % Sector to % Sector to % Sector to % Sector to % Sector to % Sector to % Sector to % Sector to % Sector to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 Locality Rank Rental %age Q1 Q4 Values change Sector to % Sector to 000-1% Sector to % Sector to % Sector to % Sector to % Sector to % Sector to Sector to % Sector to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 l Sector 76 grabbed the top spot in the list of preferred localities for sale in Noida during the current quarter. Availability of new projects and lower capital values may be the reason l Sector 50, which was at the top for two quarters in a row, dropped to the second position l Relatively affordable sectors such as 137, 78, 1 and 119 retained their spots at third, fourth, sixth and tenth positions respectively. Capital values ranged from Rs 4,800-5,600 per sq ft in these locations l Sector 62 moved up two positions to settle at number five. The sector witnessed a drop of 5 per cent in capital values l Sector 100 dropped three positions on the list this quarter to settle at number five l Two new entrants in the list of the preferred localities for sale in the current quarter were Sectors 45 and 77. While Sector 45 was at the ninth position, Sector 77 grabbed the seventh position l The list of top ten preferred localities for rent in Noida remained unchanged in the current Apr-Jun 14 quarter as compared to the previous Jan-Mar 14quarter l Sectors 62, 50, 82, 61, 93 and 37 retained their positions from first to sixth in that order on the list l Sector 44 moved up two positions to settle at number seven in the current quarter. Rental values in the locality witnessed a major drop of 10 per cent l All localities in the top seven recorded a drop of 1-10 per cent in rental values during the last three months l Sectors 119 and 1 dropped a position each to settle at the ninth and eighth positions, respectively. Both localities witnessed stable rental values in the current quarter l Sector 52 was a new entrant at the tenth position in the list of the top ten preferred localities for rent during this quarter. Home in your Budget Upto Rs Lakh Sector-73, Sector-110, Sector-121, Sector-150 Rs - Lakh Sector-73, Sector-110, Sector-134, Sector-151 Rs -60 Lakh Sector-74, Sector-76, Sector-78, Sector-118, Sector-1 l Sectors 73 and 110 recorded the highest supply of properties worth upto Rs lakh in the Apr-Jun 14 quarter l Properties in the budget range of Rs -100 lakh were most common in Sectors 76, 78 and 1 in the current quarter Rs Lakh Rs 1 Crore & Above Sector-76, Sector-77, Sector-78, Sector-79, Sector-1 Sector-50, Sector-93, Sector-93A, Sector-104, Sector-128 l Premium properties priced above a crore were most supplied in Sectors 50, 93, 93A, 104 and 128

31 NOIDA-GHAZIABAD propindex.magicbricks.com 28 VOL4, ISSUE 1; APR-JUN, FY LISTED PRICE MONITOR - Ghaziabad RENT MONITOR - Ghaziabad -1% l By and large the city recorded a positive sentiment with capital values witnessing a rise in most of the tracked localities. This also pushed up the Listed Priced Monitor, which had recorded a drop of 1 per cent in the previous quarter l Lal Kuan recorded the highest rise of 11 per cent in capital values in the Apr-Jun 14 quarter l Localities such as Kaushambi, Shalimar Garden Extension-I, Mohan Nagar and Pratap Vihar recorded a rise of 3-5 per cent in capital values l Localities such as Bhopura and Ankur Vihar that had witnessed a rise in the previous quarter registered stable values l The city recorded a mixed trend in the rental market during the Apr-Jun 14 quarter l The highest rise in rental values was recorded in Kaushambi, which clocked a rise of 8 per cent in the current quarter. This was an aberration from the previous quarter wherein Kaushmabi had recorded no change l On the other hand, Vasundhara, which had recorded a rise of 10 per cent in rental values in the Jan-Mar 14 quarter, saw a drop of 7 per cent in values this quarter l Abhay Khand continued to post increasing rental values with a rise of 2 per cent in the current Apr-Jun 14 quarter Y I E L D M E T E R - G h a z i a b a d Locality Average Rental Average Capital Gross Value (Rs/sqft/mth) Value (Rs/sqft) Yield Indirapuram , % Vaishali , % Vasundhara , % Crossings Republik , % Kaushambi , % l The Magicbricks Yield Meter ranged from per cent in the Apr-Jun 14 quarter. This was almost similar to the range observed in the previous quarter l Indirapuram continued to witness the highest rental yield in the city. This is the third time in a row that the locality has clocked the highest returns l Kaushambi and Vaishali also recorded healthy returns. The yield in these locations varied from per cent in the current quarter. While the yield dropped in Vaishali as compared to the previous quarter, it inched up marginally in Kaushambi l Similar to the Jan-Mar 14 quarter, Crossings Republik continued to yield the lowest rental returns in the city. This was because of low capital and rental values in the locality during the current Apr-Jun 14 quarter

32 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD PREFERRED LOCALITIES - GHAZIABAD SALE RENT Locality Rank Capital %age Q1 Q4 Values change Indirapuram to % Vaishali to % Raj Nagar Extension to % Crossings Republik to 00 1% Vasundhara to % Govindpuram to % Lal Kuan to % Shalimar Garden Extn to % Kaushambi to % Sahibabad to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 Locality Rank Capital %age Q1 Q4 Values change Indirapuram to % Crossings Republik to % Vaishali to % Vasundhara to 100-7% Raj Nagar Extension to % Kaushambi to % Govindpuram to % Pratap Vihar Shalimar Garden Extn to % Mohan Nagar to % Note: Q1 Apr-Jun 14, Q4 Jan-Mar 14 l The top six localities in the list of the top ten preferred localities on sale remained unchanged since the previous quarter l Indirapuram, Vaishali, Raj Nagar Extension, Crossings Republik, Vasundhara and Govindpuram occupied the first to sixth spots l Lal Kuan moved up a position to settle at the seventh spot. The locality witnessed a considerable rise of 11 per cent in capital values this quarter l Shalimar Garden Extension-I moved up from the ninth position it held in the last quarter to the eighth spot l Kaushambi slipped two positions from the previous quarter to settle at the ninth position. This may be attributed to the comparatively higher capital values in the locality (Rs 5,500-7,000 per sq ft) l Sahibabad, at number ten, was a new entry in the list this quarter. The locality offers properties in the range of Rs 3,600-4,600 per sq ft l Indirapuram continued to be the most preferred locality for rent in Ghaziabad, a trend that has been observed quarter-on-quarter l Crossings Republik moved up a spot to settle at the second position this quarter. Rental values witnessed no change since the last quarter l Vaishali dropped to the third position on the list. Rental values in the locality witnessed a drop of 4 per cent over the quarter l Localities such as Vasundhara, Raj Nagar Extension and Kaushambi retained their positions on the list l Govindpuram moved up three positions to settle at the seventh spot as compared to the tenth position it occupied in the previous quarter. The locality recorded a drop of 10 per cent in rental values l Mohan Nagar was a new entrant in the list of top ten preferred localities for rent. The increased demand for the locality led to a rise of 10 per cent in values in this quarter Home in your Budget Upto Rs Lakh Lal Kuan, Govindpuram, Ankur Vihar, Bhopura l Ankur Vihar witnessed a high supply of affordable properties priced upto Rs lakh Rs - Lakh Rs -70 Lakh Rs Lakh Rs 1 Crore & Above Raj Nagar Extension, Shalimar Garden Extn-1, Sahibabad Crossings Republik, Vaishali, Vasundhara, Neeti Khand1 Indirapuram, Vasundhara, Vaishali, Kaushambi Indirapuram, Vaishali, Vasundhara, Surya Nagar l Vaishali and Vasundhara offered properties in a wide budget range of Rs lakh to Rs 1 crore and Above l Indirapuram and Kaushambi saw high supply of properties in the budget range of Rs 70 lakh to Rs 1 crore and Above in the current quarter

33 NOIDA-GHAZIABAD propindex.magicbricks.com 30 VOL4, ISSUE 1; APR-JUN, FY Broker Manish Mehta Max Gain Real Estate Noida Consultant Someshwar Singh General Manager, VAS Colliers International R E A L T Y N E W S There was a key announcement in Noida recently about hike in land allotment rates and circle rates from August 1, 14. This will make land costlier. The quarter was eventful for Noida as several residential projects faced halts on account of various construction norm violations. Circle rates to go up from August 1 Land is set to get costlier in Gautam Budh Nagar. Following the hike in land allotment rates by Noida, Greater Noida and Yamuna Expressway Authorities earlier this month, the UP stamp and registry department is set to increase circle rates in the district. The revised circle rates will be implemented from August 1, 14. Officials said the circle rates are set to rise by 15- per cent. Last year, the rates were hiked by -35 per cent. n The Times of India, Delhi/NCR Noida realty facing issues, who is at fault? One after the other, residential projects in Noida are facing halts on account of violations of various construction norms. In the past few months, projects of more than builders have been put on hold due to the National Green Tribunal (NGT) ruling to stop work on all projects within a 10-km radius of the Okhla Bird Sanctuary. Two residential towers of Supertech's Emerald Court in Sector 93A are also under the scanner for flouting building norms. While the authorities take their own time to realise these discrepancies, the end users are left in the dark. n Magicbricks.com Bureau E X P E R T S P E A K Noida real estate is quite unorganized as compared to Gurgaon. A regulatory body with all clearance powers will definitely boost the sentiments of the home buyers and also the real estate sector of Noida. With economic reforms awaited, Noida realty will also get affected at the micro level as buyers and investors seeking easy home loan options and finances will get a way to fullfil their home buying dreams. Presently, approximately 0 projects with 160,000 units are at various stages of development in Noida in the price band of Rs 3,000-7,500 per sq ft. The demand was primarily from employees working in the IT/ ITeS sector. With the completion of commercial projects, demand for up-market residential units is also expected to rise. Developers have launched luxury residential projects witnessing good absorption levels. To read full story and more news go to Q&A Sushant Muttreja CMD Cosmic Group How has the city performed in the last quarter with respect to capital values in different areas? Why? Since the new government stepped in, the market sentiments improved which motivated developers to come out with new launches and offer possession. The beginning of the last quarter witnessed customers being insecure but after the formation of the government, the investments resumed in the newer regions of NCR, such as Noida Extension and Yamuna Expressway picked up. Which budget ranges have done well in the last quarter and why? Since the last quarter was full of ups and downs, the investors paused but the end users were buying within their budget. The customers felt that the prices might rise after the elections so they invested more than normal. Properties ranging within Rs 75 lakh to Rs 1 crore did significantly well than the other ranges. What type of property is in demand? Residential property has always been in demand. The commercial properties also showed a rise in the last five years. Which areas or corridors have seen the maximum launches in the last quarter? Which areas are expected to see new launches/possession? The last quarter was damp for project launches as the overall market was slow due to high inflationary conditions and the election season. But still several developers started projects in Noida Extension and Greater Noida (West). In the upcoming months fresh launches will increase and possession of several projects will be seen especially in Noida. Any new infrastructure project that had an impact on the real estate market in the last few months? The recently included Rapid Metro in Gurgaon got the market back on track. The nod for widening of the NH-8 has also allowed developers to launch new properties in the region. Demand is increasing at a better pace.

34 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD Broker Amrik Singh Investor Guide Infrareal Consultant Surabhi Arora Associate Director, Research Colliers International Ghaziabad real estate landscape is undergoing changes. With soon to be revised circle rates, property owners in Ghaziabad will have to shell out more money to get their houses registered. In a move to be transparent with home-buyers, GDA has also decided to upload the list of errant builders on its official website. Circle rates to go up in Ghaziabad Following the hike in land allotment rates in Noida, the UP property stamp and registry department is all set to increase circle rates in Ghaziabad. The revised circle rates will be implemented from August 1, 14 in Ghaziabad. Arvind Singh Chandel, DIG, stamp and registration department said that the new rates will be implemented once the proposal gets approval from the district magistrate of Ghaziabad n Times of India Ghaziabad realty details now put online Considering the large number of fraud cases by developers, Ghaziabad Development Authority (GDA) has adopted a transparent route to educate investors by uploading a list of errant builders on its official website. This website will mention sealed properties as well as those whose layout plans have been cancelled by the Authority. The lists also include details of those developers who have obtained NOCs from the Authority and fire department. GDA chairman, Santosh Yadav, said that the move was taken to curb largescale cheating and harassment of buyers. n Times of India E X P E R T S P E A K The real estate development in Ghaziabad was slow as several rules and regulations were impeding the construction of the projects. Because of this, buyers are getting choosy and avoiding investment in the area. Ghaziabad used to drive affordable middleclass buyers but because of delays, the cost is increasing and repelling buyers to invest here. Single window clearance system will boost the realty, which is the need of the hour. Indirapuram, Vasundhara, Vaishali, Raj Nagar Extension and Crossings Republik are key areas in Ghaziabad. After four quarters of slump the demand has started picking up. This is primarily due to physical and social infrastructure developments. The most active micro market is Rajnagar Extension having more than 15 ongoing. Ghaziabad witnessed an average appreciation of 2.5 per cent in the last one year. R E A L T Y N E W S To read full story and more news go to Vikas Pundir MD, SKB Group Q&A How has the city performed in the last quarter with respect to capital values in different areas? Why? With respect to capital values, the city has not witnessed much appreciation. It was between per cent during the current quarter. Which budget ranges have done well in the last quarter and why? The budget of Rs lakh for 2BHK has done well in the last quarter as it was most preferred by property buyers. What type of property is in demand? Residential apartments continued to remain in demand among property seekers in this quarter. Which areas or corridors have seen the maximum launches in the last quarter? Which areas are expected to see new launches/possession in the coming months? The maximum launches in the city have been noted along the National Highway- 24. This corridor is expected to see maximum launches in the coming months as well. Any new infrastructure project that had an impact on the real estate market in the last few months or is expected to impact the market in coming months? The recent announcement by the development authority to make National Highway 24 from 6-lanes to 8-lanes is going to impact the market significantly. Survey for the same is expected to start soon. The Faridabad-Noida-Gurgaon corridor (FNG) and the Eastern Peripheral Expressway or the KGP Experessway (Kundli-Ghaziabad-Palwal) is a proposed road which will bypass Delhi on the eastern side of the city, along with the planned metro connectivity will play a huge role in the coming months. These planned infrastructure projects are expected to boost the real estate market of Ghaziabad.

35 NOIDA-GHAZIABAD propindex.magicbricks.com 32 VOL4, ISSUE 1; APR-JUN, FY D E M A N D - S U P P LY A N A LY S I S - N o i d a Demand and supply at the city level was concentrated for properties priced above Rs 60 lakh. However, supply in the category still lagged behind demand by 10 per cent. Limited buyer interest and supply was noted for affordable properties priced below Rs lakh. A mismatch was noted in the demand and supply of different BHK configurations. Supply was inclined towards 3BHK units with more than per cent availability. However, buyer interest was seen for 2BHK units. Supply lagged behind the existing demand in the category by 10 per cent. Apartments continued to be the preferred property type witnessing a marginal rise in demand. Supply matched demand for the category. Figures in percentage(%) Figures in percentage(%) Figures in percentage(%) < & above City Level (Jan-Mar 14) (Apr-Jun 14) Figures in Rs lakh Figures in percentage(%) BHK Configuration - City Level (Jan-Mar 14) (Apr-Jun 14) 7 5 1BHK 2BHK 3BHK 4BHK & above City Level (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above Figures in Rs lakh (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot (Jan-Mar 14) (Apr-Jun 14) BHK 2BHK 3BHK 4BHK & above l At the city level, 77 per cent of the demand was concentrated for properties worth above Rs 60 lakh. However, supply for the same was at 66 per cent, leading to an undersupply of 10 per cent l Demand and supply was limited to under 10 per cent for properties priced below Rs lakh. The category of Rs -60 lakh witnessed moderate demand and supply with demand at 16 per cent and supply leading by 4 per cent l Demand for apartments improved by 5 per cent during the current quarter as compared to the previous quarter. Supply also inched up marginally. Mismatch was noted in the plots category with demand at 14 per cent and supply at only 8 per cent l Demand and supply for residential houses matched in the last two quarters. It was the least preferred and supplied category with only 5 per cent demand and supply - City Level l At the city level, 2BHK units were the most preferred category with more than 50 per cent demand. While demand moved up by 5 per cent in the current quarter, supply settled at per cent, almost stable to the previous quarter l More than 35 per cent demand was noted for the 3BHK category. Supply was stable at 42 per cent, leading demand by 6 per cent in the current quarter

36 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD & - New Developing Sectors, Noida More than 80 per cent demand was noted for properties priced above Rs 60 lakh in the New Developing Sectors of Noida. Supply for these properties did not match the demand. Buyer interest inched up for luxury properties, while supply for the same remained low. As far as BHK configurations were concerned, supply in the market was inclined towards 3 and 4BHK units with both categories recording an over-supply during the current quarter. However, buyer interest was largely for 2BHK units with more than 55 per cent demand. With 90 per cent demand apartments remained the preferred property type Rs < lakh Rs - lakh Rs -60 lakh Rs lakh Rs 1 crore and above l Demand and supply remained almost unchanged in most categories with minor fluctuations. More than 50 per cent demand was noted for properties in the Rs lakh category. However, supply fell short of 8 per cent in the current quarter to settle at 45 per cent l Equal demand of per cent each was noted in the Rs -60 lakh and the Rs 1 crore and Above categories. While supply led demand by 8 per cent in the Rs -60 lakh range, a shortfall of 10 cent was noted for the latter l Demand and supply for properties priced upto Rs lakh remained low. While 7 per cent demand was noted in the current quarter, supply led demand by 10 per cent at 17 per cent Apartment Residential house Residential plot l Apartments remained the most preferred and supplied property type in the New Developing Sectors of Noida. Both demand (90%) and supply (91%) witnessed a rise of 4 and 7 per cent, respectively l Sectors 74, 76, 77, 78, 118 and 1 recorded high supply of apartments during the Apr-Jun 14 quarter while demand was seen in Sectors 70, 117, 1 and 121 l Both demand and supply for plots dropped by 3-4 per cent in the current quarter. While demand settled at 8 per cent supply was at 4 per cent. Negligible demand was noted for residential houses. Supply for the same was at 5 per cent, a drop of 3 per cent from the previous quarter BHK 2 BHK 3 BHK 4 BHK & above l More than 55 per cent demand was noted for 3BHK units in the New Developing Sectors. A rise of 3 per cent was recorded in demand this quarter, while supply remained stable at 42 per cent in the current Apr-Jun 14 quarter l An over-supply, at 44 per cent, was noted for 3BHK units with supply leading demand by 8 per cent. Demand witnessed a rise of 2 per cent from the previous quarter and settled at 36 per cent l Demand and supply for 1 BHK units remained low with 6 and 8 per cent, respectively. While demand registered a drop of 3 per cent in the current quarter, supply inched up by the same

37 NOIDA-GHAZIABAD propindex.magicbricks.com 34 VOL4, ISSUE 1; APR-JUN, FY & - Noida-Greater Noida Expressway Along the Noida Greater Noida Expressway almost 80 per cent demand was seen for properties priced above Rs 60 lakh. Supply was also likewise inclined. Demand and supply for luxury properties priced above a crore matched perfectly at 35 per cent. Larger units (3BHK and 4BHK and Above) saw an over-supply along the Expressway. While a healthy demand was noted for 3BHK units, demand remained low for the 4BHK and Above category. Supply for 2BHK units, the preferred category, fell short of demand. Plots witnessed a healthy demand and supply along the Expressway Rs < lakh Rs - lakh Rs -60 lakh Rs lakh Rs 1 crore and above l Nearly 45 per cent demand was noted in the Rs lakh budget range. This was a rise of 4 per cent from the previous quarter. Supply in this range settled at 32 per cent, 12 per cent lower than demand l The second highest demand was noted for high-end properties priced Rs 1 crore and Above at 35 per cent. Supply matched demand with 34 per cent availability. A rise of 2 per cent was noted for demand and supply in the category l Both demand and supply dropped in the budget range of Rs -60 lakh. While demand dropped by 4 per cent to settle at 14 per cent, supply dropped marginally to stand at 19 per cent Apartment Residential house Residential plot l Along the Noida-Greater Noida Expressway both demand and supply for apartments inched up marginally in the Apr-Jun 14 quarter. As observed in the previous quarter supply of these units led demand by 6 per cent l A healthy demand of 19 per cent was also noted for plots. However, as compared to the previous quarter, demand recorded a drop of 2 per cent in the current quarter, whereas, supply inched up by 1 per cent. Sectors 105 and 150 recorded a healthy supply for plots l Demand and supply for residential houses dropped marginally this quarter. Supply at 5 per cent led demand (3%) by 2 per cent in the current Apr-Jun 14 quarter BHK 2 BHK 3 BHK 4 BHK & above l Demand for 2BHK units moved up by 6 per cent along the expressway in the Apr-Jun 14 quarter. However, supply remained short of demand by 15 per cent, registering a mismatch l As far as 3BHK units were concerned, both demand and supply for these units inched up marginally from the Jan-Mar 14 quarter. While demand settled at per cent, a rise of 2 per cent from the previous quarter, supply was at 47 per cent. This was the most supplied category in the zone l Supply for 1 and 4BHK and Above categories remained almost unchanged in the last six months. Demand on the other hand, witnessed a drop of 3-4 per cent in both in the current quarter

38 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD & - Old Noida In Old Noida, more than 70 per cent supply was towards properties priced above Rs 1 crore. Buyers were also looking for these properties with more than 50 per cent demand. This trend was also noted in the BHK category. An over-supply of more than 30 per cent was observed for larger units (4BHK and Above). However, demand was largely concentrated for 2 and 3BHK units with a combined demand of nearly 90 per cent. A healthy supply of 18- per cent was noted for residential houses and plots in Old Noida. However, demand stood at 12 per cent in both the categories Rs < lakh Rs - lakh Rs -60 lakh Rs lakh Rs 1 crore and above l A significant rise of 10 per cent was seen for premium properties priced Rs 1 crore and Above. Demand in the category settled at 57 per cent this quarter. Even though supply dropped by 2 per cent, the category still remained over-supplied by 15 per cent l Increased demand for premium properties reflected in the drop in demand in other categories. While negligible demand was noted in the Upto Rs lakh category, a drop of 3-4 per cent was noted for all other categories l As observed in the previous quarter, supply remained low in all other categories except in the Rs lakh category which registered a moderate availability of 17 per cent Apartment Residential house Residential plot l As compared to the previous Jan-Mar 14 quarter, a significant rise of 8 per cent was noted in the demand for apartments. While demand stood at 76 per cent supply, at 62 per cent, fell drastically short of demand by 14 per cent l Demand and supply for residential houses and plots was almost uniformly distributed. Both recorded a demand of 12 per cent while supply stood at and 18 per cent, respectively l As compared to the Jan-Mar 14 quarter, demand for plots dropped by 5 per cent while demand for residential houses recorded a drop of 3 per cent. However, supply for both these categories registered a rise of 2 per cent in this quarter BHK 2 BHK 3 BHK 4 BHK & above l In Old Noida a considerable mismatch was noted between the demand and supply of almost all categories. The highest gap was noted for the 4BHK and Above category wherein, an over-supply of 33 per cent was recorded in the current quarter l On the other hand, the demand for 2BHK units led supply by 26 per cent. Both demand and supply remained unchanged in the last six months at 48 and 22 per cent respectively l Demand for 3BHK units (41%) inched up by 4 per cent in the current quarter while supply (35%) dropped by 2 per cent. This led to an under-supply of 6 per cent. This was in contrast to the perfect match observed in the previous quarter

39 NOIDA-GHAZIABAD propindex.magicbricks.com 36 VOL4, ISSUE 1; APR-JUN, FY D E M A N D - S U P P LY A N A LY S I S - G h a z i a b a d Rs -70 lakh category was preferred by buyers in Ghaziabad. However, supply fell short of the existing demand in the category. The market witnessed an over-supply of 28 per cent for affordable properties priced below Rs lakh. As far as BHK configurations were concerned, 2BHK units remained the preferred category with nearly 60 per cent demand. It was also the most supplied category in the city. As observed in the previous quarters, the 3BHK category remained over-supplied in the current quarter as well. Demand for apartments, the preferred property type in the city, moved up considerably in the Apr-Jun 14 quarter. Figures in percentage(%) Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above City Level Figures in Rs lakh Figures in percentage(%) BHK Configuration - City Level (Jan-Mar 14) (Apr-Jun 14) BHK 2 BHK 3 BHK 4BHK & above - City Level (Jan-Mar 14) (Apr-Jun 14) Apartment Residential House Residential Plot Figures in percentage(%) Figures in percentage(%) (Jan-Mar 14) (Apr-Jun 14) < & above Figures in Rs lakh (Jan-Mar 14) (Apr-Jun 14) 7 7 Apartment Residential House Residential Plot (Jan-Mar 14) (Apr-Jun 14) BHK 2 BHK 3 BHK 4BHK & above l Negligible demand was seen for properties below Rs lakh with an over-supply of 7 per cent. On the other hand, supply for the Rs 100 lakh and Above category fell short by 11 per cent l With 42 per cent demand and 36 per cent supply, the Rs -70 lakh category was the most preferred and supplied budget range. The Rs - lakh range was also equally supplied but led demand by 21 per cent l Supply of apartments in Ghaziabad remained unchanged at 92 per cent in the previous two quarters. Demand in the category witnessed a rise of 7 per cent in the current quarter as compared to the previous Jan-Mar 14 quarter l Demand for plots dropped by 5 per cent as compared to the previous quarter. Supply remained unchanged at 7 per cent. Demand and supply for residential houses remained negligible - City Level l Demand for 2BHK units inched up by 3 per cent in the Apr-Jun 14 quarter to settle at 57 per cent. Supply, however, fell short by 9 per cent at 48 per cent l While demand for 3BHK units remained stable at 28 per cent in the last six months, supply in the category inched up by 2 per cent to settle at 35 per cent. Demand and supply for 1BHK units were perfectly matched at 12 per cent

40 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com DELHI CAPITAL VALUES LOCALITY WISE DELHI Average Listed Residential Apartment Prices Locality Capital Values (Rs/Sq feet) Locality Capital Values (Rs/Sq feet) Alaknanda 140 to Anand Niketan to Chattarpur 4300 to 5700 Chittaranjan Park 140 to Defence Colony to 360 Dwarka 7600 to 9800 Dwarka Mor 4300 to 5550 Dwarka Sector to Dwarka Sector to 9550 Dwarka Sector to 100 Dwarka Sector to 9950 Dwarka Sector to Dwarka Sector to 9850 Dwarka Sector-9 80 to Dwarka Sector to Dwarka Sector to Dwarka Sector to Dwarka Sector to 9850 Dwarka Sector to Dwarka Sector-18B 7700 to 9350 Dwarka Sector to Dwarka Sector to Dwarka Sector to 100 East of Kailash to Geetanjali Enclave to Greater Kailash to Greater Kailash Encl I to Greater Kailash Encl II to Greater Kailash I to Greater Kailash II to 230 Green Park to Gulmohar Park to Hari Nagar 7150 to 9050 Hauz Khas 250 to Indraprastha Extension to Janakpuri to Jangpura Extension 190 to 250 Kailash Colony to 0 Kalkaji to 180 Lajpat Nagar-III to Lakshmi Nagar 5900 to 7900 Mahavir Enclave 5000 to 6150 Mahavir Enclave-I 50 to 6250 Malviya Nagar to Mayur Vihar Ph-I to Mehrauli 3700 to 4950 Moti Nagar to Navjivan Vihar to New Friends Colony 350 to Pamposh Enclave 700 to Panchsheel Enclave to Panchshila Park 2 to Paryavaran Complex 4750 to 60 Paschim Vihar to Patparganj to Pitampura to Safdarjang Dev Area to Safdarjung Enclave 700 to Saket to 210 Sarita Vihar to Sarvapriya Vihar 450 to Sarvodaya Enclave to 250 Shahdara 4900 to 60 Shivalik to South Ext-II to Uttam Nagar 3850 to 4900 Vasant Kunj to 160 Vasant Vihar 280 to Vasundhara Enclave 9500 to Vikaspuri 9100 to 11650

41 GURGAON propindex.magicbricks.com 38 VOL4, ISSUE 1; APR-JUN, FY CAPITAL VALUES LOCALITY WISE Average Listed Residential Apartment Prices GURGAON Locality Capital Values (Rs/Sq feet) Locality Capital Values (Rs/Sq feet) Ardee City 6900 to 8500 Central Park to 100 Dlf City Phase I 9150 to Dlf City Phase II to Dlf City Phase IV to Dlf City Phase V to Dwarka Expressway 4650 to 6100 Golf Course Extension Road 7550 to 9600 Golf Course Road 150 to Gurgaon - Faridabad Road 70 to 9050 MG Road to Malibu Town 7800 to 9550 May Field Gardens- Sector to 9050 Nirvana Country 8500 to Palam Vihar 7300 to 9150 Sector to Sector to 8550 Sector-37C 00 to 4950 Sector-37D 4150 to 5000 Sector to Sector to 8600 Sector to Sector to Sector to Sector to Sector to 90 Sector to 8450 Sector to Sector to 8550 Sector to 90 Sector to Sector to Sector to 8950 Sector to Sector to 8850 Sector to 8350 Sector to 6450 Sector to 60 Sector to 60 Sector-70A 5650 to 6900 Sector to 6450 Sector to 8500 Sector to 5000 Sector to 5150 Sector to 5800 Sector to 5350 Sector to 5750 Sector to 60 Sector to 5950 Sector to 5000 Sector to 5100 Sector to 4600 Sector-88A 6350 to 6750 Sector to 5500 Sector to 4950 Sector to 4500 Sector to 4850 Sector to 6450 Sector to 4600 Sector to 5850 Sector to 5550 Sector to 6800 Sector-110A 5850 to 6650 Sector to 7250 Sohna 3800 to 4600 Sohna Road 7750 to 9950 South City I 9300 to Sushant Lok 8800 to NOTE Old Gurgaon: Sec-2 to 24 New Gurgaon: Sec-25 to 57 Golf Course Extn : Sec-58 to 67 Sohna Road: Sec-68 to 80 New Developing Sectors: Sec-81 to 95 Dwarka Expressway: Sec-99 to 115

42 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com NOIDA-GHAZIABAD CAPITAL VALUES LOCALITY WISE Average Listed Residential Apartment Prices NOIDA-GHAZIABAD Locality Capital Values (Rs/Sq feet) Locality Capital Values (Rs/Sq feet) NOIDA Sector to 8050 Sector to 8850 Sector to Sector to 8700 Sector to 8850 Sector to 8750 Sector to Sector to 6500 Sector to 5600 Sector to 8900 Sector to 8100 Sector to 7150 Sector to 5900 Sector to 3550 Sector to 5300 Sector to 5050 Sector to 5300 Sector to 5700 Sector to 5650 Sector to 4750 Sector to 6900 Sector to 3900 Sector to 8700 Sector-93A 6950 to 9150 Sector-93B 7000 to 8250 Sector to 6600 Sector to 8350 Sector to 6500 Sector to 6000 Sector to 6350 Sector to 4800 Sector to 4450 Sector to 5450 Sector to 5650 Sector to 5350 Sector to 8150 Sector to 5100 Sector to 5700 Sector to 4800 Sector to 4700 Sector to 4850 Sector to 5350 Sector to 4750 Sector-143 B 4300 to 4950 Sector to 4900 Sector to 3550 Sector to 5250 GHAZIABAD Ahinsa Khand to 6350 Ankur Vihar 2650 to 30 Bhopura 3000 to 3700 Crossings Republik 3350 to 00 Govindpuram 2350 to 3050 Gyan Khand 1 40 to 5150 Gyan Khand to 5050 Indirapuram 4700 to 6000 Indraprastha Yojna 2950 to 3250 Kaushambi 5450 to 7000 Lal Kuan 20 to 2900 Mohan Nagar 4350 to 5150 Neeti Khand to 5250 Niti Khand-Indirapuram 4450 to 5450 Pratap Vihar 3700 to 4550 Raj Nagar Extension 2950 to 3550 Rajendra Nagar 4150 to 4900 Sahibabad 3600 to 4600 Shakti Khand to 5150 Shakti Khand to 5800 Shalimar Garden Extn to 4650 Shalimar Garden Extn to 4550 Surya Nagar 6450 to 8000 Vaishali 4900 to 6250 Vasundhara 4600 to 5650 NOTE Old Noida: Sec-1 to 43, Sec-49 to 56, Sec-61,62 and 67 New Developing Sectors: Sec-70 to 79 and Sec-111 to 122 Noida Greater Noida Expressway: Sec-44 to 48, Sec-81 to 88, Sec-92 to 110 and Sec-124 to 168

43 propindex.magicbricks.com VOL4, ISSUE 1; APR-JUN, FY Luxury takes centre stage in Indian cities Across India, luxury properties have seen a rising demand. However, with developers in most cities choosing to build heavily in this segment, the luxury market continued to be over-supplied. In smaller cities such as Vadodara, local demand from industrialists, in the -year age group seeking to upgrade lifestyle, drove demand in DELHI cr cr 3-4 cr 4-5 cr 5 & Above East 33% 22% 27% 6% 12% North 28% 21% 26% 9% 16% South 11% 19% 30% 11% 29% West 39% 21% 19% 6% 15% City % % 27% 9% 24% East 25% 31% 15% 9% % North 14% 18% 26% 14% 28% South 4% 9% 17% 15% 55% West 34% 29% 16% 7% 14% City 8% 12% 17% 14% 49% GURGAON cr cr 3-4 cr 4-5 cr 5 cr & Above Dwarka Expressway 30% 29% 29% 1% 11% Golf course Extn Rd 26% 16% 25% 11% 22% New Developing Sectors 48% 22% 26% 3% 1% New Gurgaon 24% 25% 25% 10% 16% Old Gurgaon 27% % 24% 9% % Sohna Road 42% 24% 23% 5% 6% City 27% 23% 24% 10% 16% Dwarka Expressway 26% 30% 15% 8% 21% Golf course Extn Rd 14% 22% 27% 11% 26% New Developing Sectors 64% 26% 2% 1% 7% New Gurgaon 16% 23% 22% 13% 26% Old Gurgaon 15% 35% 25% 9% 16% Sohna Road 37% 34% 13% 9% 7% City 18% 24% 22% 11% 25% the category. In most big cities, luxury demand came from IT and Manufacturing professionals looking for premium lifestyles near their place of work. It came packaged with premium asset quality, safe gated communities, lifestyle features such as jogging tracks, swimming pools, sports facilities and well planned landscaping. A key component of NOIDA cr cr 2-3 cr 3-5 cr 5 cr & Above New developing sectors 60% % 9% 9% 3% Noida Gr Noida Expway 36% 33% 18% 10% 3% Old Noida 38% 24% 15% 16% 7% City 42% 28% 15% 11% 4% New Developing Sectors 62% 14% 13% 6% 5% Noida Gr Noida Expway 38% 24% 18% 11% 9% Old Noida 22% 17% 18% 23% % City 36% 21% 18% 13% 12% MUMBAI cr cr 3-4 cr 4-5 cr 5 cr & Above Central Line 31% 24% 19% 11% 15% Central Mumbai 14% 17% 32% 14% 23% Harbour Line 19% 22% 22% 9% 28% Navi Mumbai 39% 16% 27% 8% 10% South Mumbai 7% 7% 17% 11% 58% Thane 41% 21% 29% 4% 5% Western Suburbs 24% 26% 23% 9% 18% City 24% 24% 22% 9% 21% Central Line 25% 33% 19% 5% 18% Central Mumbai 8% 21% % 11% % Harbour Line 17% 30% 26% 10% 17% Navi Mumbai 25% 27% 24% 7% 17% South Mumbai 3% 6% 9% 7% 75% Thane 28% 36% 19% 5% 12% Western Suburbs 19% 25% 18% 13% 25% City 16% 24% 18% 10% 32%

44 VOL4, ISSUE 1; APR-JUN, FY propindex.magicbricks.com luxury development has been efficient concierge services, premium brand tie-ups and predictive facilitations. Luxury in the suburbs has been around for a while. But in the past six months luxury demand has re-entered CBD (Central Business District) areas which are under re-development. A clear case is Bangalore and Chennai where traditional downtown premium areas such as MG Road and Adyar are posting both supply and robust demand for extremely high-priced modern units which are built on re-developed old plotted layouts. The buyers are the traditional wealthy citizens of the city who are upgrading to modern apartment living within localities in their comfort zone. The quality of assets supercedes the packaged lifestyle features in these areas. Location contributes to a large part of the values of these properties. As users go online to seek luxury property, PropIndex acknowledges this as a significant segment. PUNE cr cr cr 4 cr & cr Above Central 10% 27% 16% 21% 26% East 31% 35% 11% 17% 6% North 38% 28% 7% 19% 8% South 31% 35% 11% 19% 4% West 31% 37% 10% 17% 5% City 31% 36% 11% 16% 6% Central 4% 13% 12% 41% 30% East 27% 31% 11% 19% 12% North 21% 33% 10% 26% 10% South 25% 24% 19% 22% 10% West 27% 26% 14% 23% 10% City 26% 27% 13% 22% 12% CHENNAI cr cr 2-3 cr 3-5 cr 5 cr & Above Central 33% 24% 17% 15% 11% North 37% 37% 13% 7% 6% South 41% 24% 15% 9% 11% City 38% 27% 15% 10% 10% Central % 23% % 14% 23% North 25% 27% 18% 13% 17% South 28% 21% 17% 17% 17% City 25% 23% 18% 15% 19% HYDERABAD cr cr 2-3 cr 3-5 cr 5 cr & Above East 48% % 19% 5% 8% North 57% 28% 11% 2% 2% South 51% 24% 11% 8% 6% West 37% 25% 12% 13% 13% City % 25% 12% 12% 11% East 53% 22% 7% 13% 5% North 29% 33% 24% 11% 3% South 16% 18% 25% 28% 13% West 26% % 25% 15% 14% City 27% 21% 23% 17% 12% BANGALORE cr cr 2-3 cr 3-5 cr 5 cr & Above Central 29% 30% 17% 15% 9% East 43% 31% 14% 7% 5% North 38% 29% 18% 10% 5% South 44% 26% 15% 8% 7% West % 27% 17% 9% 7% City 42% 29% 14% 9% 6% Central 16% % 19% 17% 28% East 34% 24% % 12% 10% North 34% 28% 21% 11% 6% South 30% 27% 21% 14% 8% West 35% 30% % 11% 4% City 32% 26% 21% 12% 9%

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49 propindex.magicbricks.com VOL4, ISSUE 1; APR-JUN, FY CONTACT US l Post your feedback to - l Join our discussion forum at - openhouse.magicbricks.com l For business enquiries - [email protected] PROPINDEX TEAM l Content & Research: E Jayashree Kurup, Dipti Tandon, Subodh Kumar, Rishab Jain, Kanchana Dwarkanath, Sruthi Kailas, Bhawna Mongia, Ankit Sharma, Renu Arya, Aradhana Mozumdar, Girish Bindal, Neha Nagpal, Surbhi Gupta, Neha Singh Verma, Puneet Kukreja & Bikash Kumar l Layout Design: Harsha Khattar l Cover Page Design: Raghav Krishnan & Rahul Nair 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 caused, or alleged to have been caused, directly or indirectly, by the information contained in this book. The information/data in this book is subject to change from time to time due to market condition.

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