Kolkata PDF

FOREWORD
PropIndex is now in its 4th year and the current issue is the 14th edition of what has
been an excellent round of reporting on the real estate market in India. In this long
period of continuous reporting, we have gathered unmatched data, developed a very
robust micro-level understanding of localities and market forces affecting real estate
and brought valuable industry/expert advice to our users! PropIndex has gone from
strength to strength adding more analytics, insights and diverse views in every
edition. The current edition is no different this time, we have invited editors of
Times Property to share their views on respective cities. Also, weve expanded the
coverage of suburbs across most cities.
This issue of PropIndex reflects the reality of the countrys real estate market i.e. that
the industry and government need to work hard on tangible policies and processes to
woo the buyers back into residential real estate markets. While there was plenty of
demand, it was concentrated in properties in the affordable range as classified by the
Union Budget 2014 (upto Rs 50 lakh) which recorded maximum demand at 37 per cent.
This shows that end users are buying today and spending on current needs without
straining their wallets.
City indices remained fairly stable. The only aberrations were the Delhi City Index
which recorded drop in values in the last two quarters, indicating slow uptake in the
market. The Mumbai Index stabilised and rose 4 per cent in the quarter. Hyderabad
dropped 2 per cent. All others recorded negligible variation. As expected, supply went
up across the cities vis--vis the previous quarter. Clearly, developers are working on
completing projects and winning the confidence of customers.
A growing trend has been the rising demand for housing units priced at Rs 5 crore and
above across Indian cities. In cities such as Mumbai, Delhi and Gurgaon, Rs 1-2 crore
would classify as the mid-segment because of steep rise in property prices. Chennai
entered the premium luxury market with a maximum demand for properties worth
Rs 5-10 crore at 11 per cent. Bangalore and Hyderabad posted 8 and 9 per cent demand.
With property markets fairly stagnant, premium buyers have obviously decided to
take the plunge. Supply still exceeds demand but healthy growth in demand also
spells good news for the industry. A lot of this demand is fuelled by those end users
who wish to upgrade from luxury to premium luxury living, according to
Magicbricks surveys, also translating into the Housing Sentiment Index (HSI) evolved
in collaboration with IIM Bangalore.
Rental markets remained fairly stable over a six-month period. Over 50 per cent
localities recorded a rise in the average rental values, thus nullifying the drop in the
Apr-Jun 2014 quarter. As small investors head for stock markets, property markets
need to up the ante.
Were also delighted to share with you that Magicbricks has won several awards for
excellence in the last quarter we won the Best Property Portal award from
Naredco; the Most Admired Real Estate Website award from Lokmat; our Editor,
E Jayashree Kurup was also adjudged The Journalist of the Year by CIDC. All of
this provides encouragement for us to raise the bar even further. We continue to look
forward to your views and feedback on the current issue of PropIndex. Do write in!
Sudhir Pai
Business Head, Magicbricks.com
METHODOLOGY
Magicbricks PropIndex
is a tool which
empowers property
seekers and investors
with detailed
information on the
movement of residential
apartment prices and
supply of properties in
India. No credible
property index can be a
function of direct values
as the changes are
governed by multiple
factors.
has taken this reality
into account and
produced an index based
on listing of apartments
and their capital and
rental values on the
website.
Magicbricks has over
700,000 active properties
posted by more than
1,40,000 active users in
300 cities and 10,000
localities. Our users
include owners, agents
and developers.
Methodology
Apartment values are
based on listings on
Magicbricks. These
include multi-storey
apartments and single
units on plotted
developments, referred
to as builder floors on
Magicbricks.com.
The Index is structured
in such a way that
individual properties
are aggregated into their

respective cities and
then to the National
Index. Weightages for
PropIndex are based on
the supply of properties
within the locality/city.
Based on this structure,
PropIndex gives a
realistic picture of
trends in price/supply
across different property
markets in each city. We
have used different
weightages for Listed
Price Monitor/Rent
Monitor. Therefore, read
as a whole, PropIndex
along with tables
provided for Listed Price
Monitor, Rent Monitor,
Yield Monitor and
Capital Values, gives an
excellent perspective of
the property market
performance in the
quarter.
While listing and its
values/supply provide a
level of understanding
of the market, there are
meticulous data checks
to prevent aberrations
creeping in the Index.
These are based on
statistical calculations,
industry inputs and
logical interpretations.
The National Property
Index (NPI) is indicative
of the extent of activity
as well as price
movements across cities
and localities in the
major cities active on
Magicbricks.com. The
index includes the top
11 cities (these have
been chosen based on

their activity levels) and
has an individual city
report for each of these
cities. While the NPI and
its movements are of
interest to the expert
community of bankers,
builders and investors,
the PropIndex has also
taken care to explain the
nuances of index
movements at the
locality level that would
help the huge base of
Magicbricks.com
consumers.
Insights into consumer
demand have been
gathered through
analysis of search
information on the site.
This helps understand
the best localities by
demand, the type and
configuration of units as
well as the budget-wise
preferences.
The PropIndex is the
result of meticulous
research at the locality
level and through
detailed discussions
with experts at
Magicbricks.coms
offline and online
initiatives.
The Indian real estate
market is dynamic and
the PropIndex reflects
those changes. Since it is
derived from a dynamic
database, additions and
deletions of localities
happen as a function of
market dynamics.
GLOSSARY & DEFINITIONS

There is a wealth of information within these pages. For better readability, we have presented some data as tables
and others as graphs. Between them, you will find how property markets have performed in the Jul-Sep 2014
quarter from different perspectives from that of capital appreciation, from a rental/yield realisation
perspective and from a supply standpoint. Demand Analysis section also explains what consumers look for.
We recommend that you evaluate the city report in its entirety and that will provide a rounded perspective of the
performance of the property market within each city. Here are the details of what you will find in each of the city
reports enclosed within:
1.
City Property Index This is a composite index which is a function of supply of properties as well as the
average capital appreciation/drop in various localities of the city in the quarter. The city index is the
weighted average of the average rate per square foot in that locality and the supply of properties from that
locality. Premium localities (with higher average rate per square foot) as well as localities with higher supply
of properties will have a bigger impact on the Index. For example, if the supply of properties from a
premium locality drops, that locality will end up having a lower weightage in the index which in turn will
push the Index downwards (and vice-versa). On the other hand, supply of properties remaining unchanged,
the Index will be influenced by capital appreciation within the locality.
2.
Listed Price Monitor This metric shows the capital appreciation/drop within a locality and is calculated
on the basis of movement in the average rate per square foot within that locality. By and large, the
movement in the average rate per square foot reflects capital appreciation/drop. However, in a few select
cases, we have observed that the average rate per square foot moves due to a change in the mix of apartments
within that locality (e.g. if the ratio of premium apartments, which command a higher per square foot rate,
changes over the quarter). In these few circumstances, the Listed Price Monitor will, in turn, reflect this
input. Such changes have been explained in the text of the City Reports.
3.
Rent Monitor This reflects the rental appreciation/drop within a locality. It is calculated on the basis of
movement in the average rent per square foot within that locality. By and large, the movement in the
average rent per square foot reflects rental appreciation/drop. However, in a few select cases, we have
observed that the average rent per square foot moves due to a change in the mix of apartments within that
locality (e.g. if the ratio of premium apartments, which command a higher per square foot rent, changes over
the quarter). In these few circumstances, the Rent Monitor will, in turn, reflect this input. Such changes have
been explained in the text of the City Reports.
4.
Yield Meter Yield is the annual rate of return earned on property. The Yield Meter depicts the gross yield
percentages across various localities. Gross yield is a ratio of average annual rental value to the average
capital value of the property.
5.
Capital Value Tables (given in Annexures) This shows the actual range of prices within which properties
were available in each locality in the quarter. Prices are shown in Rupees per square foot basis, these are the
prevailing rates for properties in each locality.
6.
Demand Analysis This analysis of consumer demand is based on searches and requirements that users
have performed on Magicbricks.com. The top localities by demand gives an insight into consumer
peferences. The demand data has been used to arrive at various aspects of consumer requirements including
Budget-wise analysis, Property type analysis and BHK configuration analysis. This section also provides a
comparison between demand and supply in the Apr-Jun 2014 and Jul-Sep 2014 quarters.
7.
Realty News Property market performance is also dependent on drivers outside the purview of buying
and selling. There are broadly four key drivers that determine the prospects of real estate infrastructure
such as water and power, transport links creating new growth corridors, policy such as rental laws, property
tax, etc and return on investment. PropIndex also focuses on news bytes that impact future prospects of
real estate in the city.
N OTES
VOL 4, ISSUE 2; JUL-SEP, FY 2014-15
propindex.magicbricks.com
NATIONAL PROPERTY INDEX (NPI)
JUL-SEP 2014
n
Source: Magicbricks.com
JUL-SEP 2014
In the Jul-Sep 2014 quarter, the
National Property Index recorded
no change, unlike the previous
quarter. This was reflected in the
respective City Indices, where
9 out of 12 cities witnessed minus
2 to plus 1 per cent change. In the
current quarter, supply has gone
up across cities and the average
capital values remained subdued,
indicating a slow real estate.
NPI is a weighted average of
supply and values across cities in
India. Mumbai City Index
recorded a maximum increase by
4 per cent followed by Chennai at
3 per cent. On the other hand,
Delhi City Index recorded
maximum drop of 3 per cent.
Ahmedabad, Coimbatore,
Ghaziabad, Noida and Pune noted
a small rise of 1 per cent and
Kolkata City Index remained
unchanged. On the other hand,
Bangalore and Gurgaon witnessed
a drop of 1 per cent each and
Hyderabad City Index recorded a
drop of 2 per cent.
The new government is expected

to undertake several reforms that
will affect the economy and real
estate market. The recently
cleared final guidelines for setting
up and regulating the Real Estate
Investment Trusts (REITs) and
Infrastructure Investment Trusts
(InvITs) are a step in this
direction. Opening up of the
Sovereign and Pension funds into
real estate are expected to provide
a new source of funding to the
cash-crunched and debt-laden
developers.
Availability of
properties on rent
registered a drop
across India
except in
Ghaziabad
Demand for
residential
houses witnessed
a rise across
cities. On the
other hand,
demand for
apartments has
shown a small
drop
Bangalore, Pune
and Kolkata offer
the maximum
options in
properties worth
Rs 30-50 lakh
In addition to it increase in limit

of affordable housing loans to
individuals from upto Rs 25 lakh
to upto Rs 50 lakh in metros and
from upto Rs 15 lakh loans to upto
Rs 40 lakh in other centers
expected to boost affordable
housing and push sales
significantly in the long-term
witnessed the maximum activity.

The average price change in the
city ranges between minus 8 per
cent to plus 6 per cent for sale. In
the rental market, the change in
the average values range between
minus 2 to plus 8 per cent.
In this edition of the PropIndex,

we have introduced Coimbatore as
an independent city.
Saravanampatti, Ganapathi,
Trichy Road and RS Puram
National Property Index...............1
IN THIS REPORT:
Kolkata...........,..........................4
Annexures.................................12
Policy Perspective......................14
02
VOL4, ISSUE 2; JUL-SEP, FY 2014-15
NATIONAL PROPERTY INDEX

l
Availability of a number of
units across the city has gone
up between 4-17 per cent.
Hyderabad and Bangalore in
south, Pune in west and Noida
and Gurgaon in north recorded
the maximum rise in stock
Properties worth Rs 30-50 lakh
recorded the maximum demand
at 28 per cent followed by
properties in the budget range
of Rs 50-70 lakh at 21 per cent
Delhi, Mumbai and Gurgaon
recorded almost 20 per cent
demand for properties worth
Rs 2 crore and above
The Ahmedabad City Index rose

by 1 per cent in the Jul-Sep 2014
quarter, unlike the Apr-Jun 2014
quarter. After a consistent drop in
the City Index value in the last
three quarters, the index recorded
a marginal rise of 1 per cent.
Increase in the average capital
values in a majority of localities
in the city helped the Listed Price
Monitor to record a rise of
2 per cent in the
Jul-Sep 2014 quarter.
The Bangalore City Index
continued to remain steady,
dropping by just 1 per cent during
the Jul-Sep 2014 quarter.
Bangalore city reported steady
growth with no dramatic change
in price or rental values. A clear

shift in buyer preference from
plots to apartments continued to
be witnessed in the quarter. While
apartments remained in oversupply for the second quarter in a
row, plots remained marginally
under-supplied.
Rise in over 60 per cent tracked
localities resulted in a rise in the
average capital values, pushing up
the Chennai City Index as well as
the Listed Price Monitor. Similar
trend was recorded in the rental
market with over 65 per cent
localities recording a rise of
1-10 per cent in the average rental
values in the city.
Coimbatore, one of the fast
developing cities, primarily due to
a burgeoning business class
retained a steady cautious growth
observed in most cities of the
South. The Coimbatore City Index
rose by 1 per cent, while the Listed
Price Monitor rose by 4 per cent.
Increase in the average capital
values and a small rise in supply
kept up the City Index value and
the Listed Price Monitor.
The Delhi City Index continued to
witness a negative trend with a
drop of 3 per cent, in line with the
Apr-Jun 2014 quarter. The Listed
Price Monitor remained
unchanged as compared to the
previous quarter, as capital values
continued to drop across

localities. Despite there being no
government in Delhi and slow real
estate activity, the city recorded
robust demand for properties
worth upto Rs 1 crore. Huge
supply deficit was recorded
quarter-over-quarter in this
segment, with supply 50 per cent
of demand.
In the last six months, Gurgaon
residential market witnessed
stable trends with no significant
change in supply and price.
Almost equal number of localities
recorded rise or drop in values.
This resulted in no change in the
Listed Price Monitor and a
nominal drop of 1 per cent in the
Gurgaon City Index.
Over 75 per cent of localities
recorded a rise in capital values.
Preferred Cities - Sale

Locality
Rank
Q2 Q1
Mumbai
Bangalore
Pune
New Delhi
Hyderabad
Kolkata
Chennai
Gurgaon
Ghaziabad
Noida
10
10
Note: Q2 Jul-Sep 2014, Q1 Apr-Jun 2014

Preferred Cities - Rent

Locality
Rank
Q2 Q1
Mumbai
Bangalore
Pune
New Delhi
Chennai
Hyderabad
Gurgaon
Kolkata
Ghaziabad
Noida
10
10

03
National - Consumer Budget Preference

28%
30%
25%
21%
20%
16%
16%
15%
5%
0%
10%
7%
10%
2%
Upto Rs 20 Lakh
Rs 20-30 Lakh
Rs 30-50 Lakh
Rs 50-70 Lakh
Rs 70-100 Lakh
Rs 1-2 Crore
Rs 2 Crore & Above

A minimum rise of 1 per cent was

seen in localities having maximum
supply such as Indirapuram,
Vaishali, Vasundhara and
Raj Nagar Extension. This
arrested the growth of the
Ghaziabad City Index.
The Hyderabad City Index
remained steady in the
Jul-Sep 2014 quarter, with a drop of
2 per cent, as compared to the
1 per cent drop in the Apr-Jun 2014
quarter. The Listed Price Monitor
recorded no change. Unlike capital
values, rental values also showed a
positive trend. Over 60 per cent of
the tracked localities recorded a
rise between 0-10 per cent in the
average rental values.
Noida witnessed an increase in

the availability of properties for
sale by over 10 per cent in the last
three months. Except Sector 44, all
The Mumbai City Index rose by

4 per cent in the Jul-Sep 2014
quarter. This was in contrast to the
previous quarter where it
remained unchanged. The Listed
Price Monitor rose by 3 per cent
during the same period unlike the
previous quarter where it
remained unchanged. Of the total
localities in the city, 70 per cent
recorded a rise between
0-5 per cent in the average capital
values. This pushed up the Listed
Price Monitor and the City Index
value in this quarter.
Pune remained one of the most
consistent real estate markets in
the country. In the last six months,
the market remained stable with a
marginal increase of 1 per cent in
the Pune City Index value and
2 per cent in the Listed Price
Monitor. The city recorded over
10 per cent increase in the active
stock available for sale. A drop of
2-4 per cent was recorded in the
lease market. Supply trend showed
maximum number of properties
for sale within the average price of
Rs 5,000-7,000 per sq ft at
49 per cent.
T OP YI ELD GROS SERS

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, Marathahalli
Kolkata, Banshdroni
Hyderabad, Gachibowli
Ahmedabad, Prahlad Nagar Extn
Delhi, Uttam Nagar
Chennai, Padur
Ghaziabad, Shakti Khand 3
Noida, Sector-92
Pune, Chakan
Mumbai, Parel
Gurgaon, Sushant Lok
5.11%
4.71%
4.48%
4.29%
3.74%
3.70%
3.48%
3.43%
3.36%
3.34%
2.75%
CAPITAL GAINS
The table given below indicates maximum
increase in capital values in each city.
Locality
In the last six months, Kolkata

real estate market recorded almost
no change in the Listed Price
Monitor and the Kolkata City
Index value at 0 and 1 per cent,
respectively. Active supply in the
city went up by 7 per cent from the
previous quarter. Rajarhat
witnessed the maximum increase
in stock, followed by Garia. Almost
equal number of localities
recorded a rise or drop in the
average capital values, keeping the
Listed Price Monitor and the
City Index within a range of
0-1 per cent.
other sectors noted a rise or a drop

in the average capital values
between minus 4 to plus 4 per cent.
This arrested the Noida City Index
and kept the Listed Price Monitor
unchanged. Close to 60 per cent
localities recorded a change in the
average rental values, ranging
between minus 6 to plus 5 per cent.
% Change
Kolkata, Ballygunge Circular Area 10.25%

Bangalore, Bannerghatta Road
10.00%
Ahmedabad, Thaltej
9.29%
Ghaziabad, Dlf Dilshad Extn
9.23%
Chennai, Vadapalani
7.69%
Mumbai, Worli
6.99%
Pune, Bibwewadi
6.83%
Hyderabad, Hafeezpet
5.80%
Delhi, Rohini Sector-13
4.36%
Noida, Sector-70
3.83%
Gurgaon, South City II
3.53%
KOLKATA
04
PROPINDEX - KOLKATA
Editorial
Luxury oversupplied,
mid-level rules
In the Jul-Sep 2014 quarter, Kolkatas
real estate market saw a slump of
10% in the intake of units and prices.
In the main city an oversupply of highend and luxury apartments was seen.
The City Index remained unchanged in the Jul-Sep 2014 quarter

as compared to the previous quarter. The Listed Price Monitor
inched up by 1 per cent in the current quarter as compared to
the stable monitor witnessed in the Apr-Jun 2014 quarter. The
NPI remained stable in the last three months.
Key Takeaways
l
In the last six months, Kolkata

real estate market recorded
almost no change in the Listed
Price Monitor and City Index
value at 0 and 1 per cent,
respectively
Active supply in the city went up
by 7 per cent from the previous
quarter. Rajarhat witnessed the
maximum increase in stock,
followed by Garia. Almost equal
number of localities recorded a
rise or drop in the average
capital values, keeping the
Listed Price Monitor and the
City Index within a range of
0-1 per cent in the city in the
current quarter
Kolkata market offered one of

the highest rental returns across
12 cities. The gross rental
returns ranged between
2.95-4.71 per cent in the
Jul-Sep 2014 quarter
In the last six months, the top

ten preferred list showed
Rajarhat, Garia and New Town
continuing to be the most
preferred residential areas for
sale, while Salt Lake and New
Town were the top preferred
localities for lease
Properties worth Rs 20-40 lakh

were the most preferred budget
range, followed by the
Rs 40-60 lakh range in the
current quarter
Demand outstripped supply

across the budget ranges, except
for properties Upto Rs 20 lakh
and premium properties worth
Rs 1 crore and Above in the
The city recorded an equal

supply for 2 and 3BHK
categories at 44 and 43 per cent,
respectively. Demand exceeded
supply in the 2BHK category by
12 per cent and lagged supply by
11 per cent in the 3BHK category
A marginal increase of
1 per cent was recorded for small
size units (1BHK) in demand and
supply, in the last three months.
However, demand continued to
outstrip supply by 5 per cent
quarter over quarter
Demand for larger housing units

was at 3 per cent, grown from
2 per cent over the previous
quarter. Supply continued to
outstrip demand and
maintained at 9 per cent
The mid-sized, middle-budget units

had some takers but not up to the
expected levels. Since demand has
fallen, many new projects have been
kept on hold by developers, resorting
to a wait and watch policy.
The picture is not that bleak in the
upcoming suburbs of Garia, Joka,
Madhyamgram, Baruipur and
Narendrapur and the stretch beside
river Hooghly. Demand for residential
apartments at Rs 15-35 lakh has
been steady. Prices appreciated by
5-6% over the second quarter.
Commercial property rates and
demands was steady in these areas.
Demand in the green and smart city
stretches of Rajarhat and New Town
Action Areas 1, 2 & 3 has also
plateaued, with no major spurt in
buying activity.
In spite of a slew of big-ticket
infrastructural projects such as the
East-West metro, extension of the
North-South metro rail, Joka extension
of the metro, Park Circus-Airport
flyover, etc on the anvil, all these
projects are hampered by time-cost
overrun due to non-availability of
allocated funds, state governments
inability to acquire land, lack of
coordination between agencies,
litigations and the resultant slow pace.
When fully implemented, these
developments are expected to boost
Kolkatas realty which, according to
industry experts, can see a 50-70%
appreciation across segments.
Lack of investment in the industrial
sector and new manufacturing units
stunted industrial development. This
resulted in a poor job market and
inadequate career opportunities,
playing a major role in the dampened
real estate growth.
However, Kolkatas realty outlook for
the next two quarters could be better
with the Diwali season just round the
corner when traditionally people invest
in new properties.
bob.roy@timesgroup.com
Editor (East), Times Property
LISTED PRICE MONITOR
05
KOLKATA
RENT MONITOR
1%
The capital market in Kolkata remained upbeat in

the Jul-Sep 2014 quarter with more than 55 per cent
localities recording a rise in values. This also
pushed up the Listed Price Monitor by 1 per cent
The rental market in Kolkata witnessed a revival

with 50 per cent of the localities witnessing a rise in
values. This was in contrast to the previous quarter
where over 70 per cent localities had recorded a drop
Jadavpur recorded the highest rise in capital values

with an increase of 8 per cent noted in the locality
Other localities that recorded a rise included

BT Road, New Town, New Town Action Area-2 and
New Town Action Area-3. Values saw a rise of
2-3 per cent in these localities
Rental values stabilised in Ballygunge, VIP Road,

Southern Avenue and EM Bypass Road. Values rose
by 4-7 per cent in these localities as compared to the
similar drop noted in the previous quarter
Ballygunge recorded the highest rise in rental

values while Dum Dum recorded the highest drop in
values (5%)
A drop of 2-3 per cent was recorded in localities such

as Prince Anwar Shah Road, Baguiati, Rajarhat and
EM Bypass
New Town Action Area-I, Behala and Alipore

recorded a drop of 1-2 per cent in values
Y I E L D
M E T E R
Locality
l
The Magicbricks Yield Meter ranged between

2.95-4.71 per cent during the Jul-Sep 2014 quarter
as compared to the 2.88-4.78 per cent recorded in
the Apr-Jun 2014 quarter
Banshdroni continued to yield highest rental yield

for the second time in a row. Low capital values
and high rental values ensured high returns
Average Rental
Value (Rs/sqft/mth)
Average Capital
Value (Rs/sqft)
Gross
Yield
Banshdroni
12.75
3,250
4.71%
EM Bypass
19.00
5,900
3.86%
Rajarhat
12.00
3,475
4.14%
Tollygunge
16.50
4,300
4.60%
Prince Anwar Shah Road
26.75
10,350
3.10%
Garia
12.25
3,525
4.17%
VIP Road
13.25
3,875
4.10%
New Town Action Area 1
13.50
5,500
2.95%
Ballygunge
27.00
10,725
3.02%
Narendrapur
11.75
3,425
4.12%
Localities that recorded healthy rental returns in

the range of 4.10- 4.60 per cent included Garia,
Tollygunge, Rajarhat, Narendrapur and VIP Road
High capital values limited the rental returns to

3-3.10 per cent in localities such as Ballygunge and
Prince Anwar Shah Road. New Town Action
Area-I recorded the lowest returns
KOLKATA
06
PREFERRED LOCALITIES
RENT
SALE
Locality
Rajarhat
Rank
Q2 Q1
1
1
Capital
Values
3150 to 4100
%age
change
-2%
Locality
Salt Lake
Rank
Q2 Q1
1
1
Capital
Values
14500 to 18500
%age
change
0%
Garia
3200 to 4100
0%
New Town
12000 to 16000
-2%
New Town
4400 to 5600
2%
Rajarhat
11000 to 14000
0%
Salt Lake
5400 to 7000
-2%
Kestopur
10000 to 12000
0%
Behala
3300 to 4200
-2%
Garia
11000 to 14000
0%
New Town Action Area 1 6
5050 to 6300
5%
Tollygunge
14500 to 20000
2%
Dum Dum
3150 to 4000
-1%
Dum Dum
10000 to 12000
-5%
Baguiati
2850 to 3550
-2%
Jadavpur
13000 to 17000
2%
Kestopur
2950 to 3550
1%
Ballygunge
10
24000 to 32000
7%
Tollygunge
10
3850 to 5100
0%
Behala
10
10500 to 14000
-2%

l
The top three localities in the list of the top ten

preferred localities for sale remained unchanged in
the Jul-Sep 2014 quarter. While Rajarhat retained its
spot on the top, Garia and New Town followed suit at
second and third
Salt Lake moved up two positions to settle at number

four, which may be attributed to a slight drop in
capital values
Behala dropped to the fifth spot as compared to the

fourth spot it held in the previous quarter, while
New Town Action Area also moved down one spot to
settle at number six
Dum Dum, Baguiati and Kestopur retained their

spots on seventh, eighth and ninth positions.
All locations offered properties priced between
Rs 2,900-4,000 per sq ft
Tollygunge was a new entrant in the list of the

preferred localities for sale in the current quarter.
The locality offered properties in the range of
Rs 3,850-5,100 per sq ft
IT driven locations retained their positions on the

list of preferred localities for rented accommodation
Salt Lake continued to be the preferred location for

rented accommodations even though rental values
are high in the range of Rs 14,500-18,500 per month
New Town retained its spot on the second position.

The locality witnessed a drop of 2 per cent in rental
values during the quarter
Rajarhat moved up one spot to settle at number

three. Garia and Tollygunge improved their
standing by two positions each, to settle at fifth and
sixth spots respectively
Behala witnessed the biggest drop on the list, sliding

to the tenth position as compared to the fifth spot it
occupied in the previous quarter
Jadavpur and Ballygunge moved up a position each,

to settle at the eighth and ninth positions,
respectively. Rental values moved up by 2-7 per cent
in these locations
Home in your Budget

Upto Rs 20 Lakh
Thakurpukur, Barasat, Joka, Baruipur, Baguiati
Rs 20-40 Lakh
Rajarhat, Garia, Behala, Baguiati, Nayabad, Kestopur
Rs 40-60 Lakh
Garia, Behala, New Town, Tollygunge, Madurdaha
Rs 60-100 Lakh
New Town, Rajarhat, New Town Action Area 3
Rs 1 Crore & Above
EM Bypass, Prince Anwar Shah Road, Salt Lake
Garia and Behala witnessed

high supply of properties in
Rs 20-60 lakh, while New Town
offered properties in the range
of Rs 40 lakh to Rs 1 crore
Western localities such as Joka

and Barasat offered properties
at Upto Rs 20 lakh
EM Bypass Road, Prince Anwar

Shah Road and Salt Lake saw
high supply of luxury
properties priced at Rs 1 crore
and Above
07
KOLKATA
D E M A N D - S U P P LY A N A LY S I S
Mid segment properties continued to be preferred by property buyers in Kolkata. This was
evident in the high demand witnessed for properties worth Rs 20-40 lakh. Maximum demand for
2BHK units also indicated the same. However, supply for these properties was limited.
Larger housing units were more in supply as compared to the existing demand in the market.
Thus, it was noted that the 3BHK and 4BHK and Above categories were over-supplied. A combined
excess supply of 17 per cent was noted in these categories. As far as property types are concerned,
a slight shift in demand was noted towards independent houses, which recorded a rise of
6 per cent in the Jul-Sep 2014 quarter
Budget wise Analysis
Budget wise Analysis - City Level

DEMAND
(Apr-Jun 2014)
(Jul-Sep 2014)
40
30
25 26
20
10
0
15 15
10 9
5 4
<20
20-40
40-60
60-100
40
35 36
30
20
19 20
17 18
17
60-100
100 &
above
12 11
15
10
0
100 &
above
<20
20-40
40-60
Figures in Rs lakh
DEMAND
40
12
100
11 8
Apartment Residential House
80
60
40
20
Residential Plot
Apartment Residential House
DEMAND
BHK wise Analysis - City Level
20
8 9
50
2BHK
3BHK
Demand and supply in different

categories remained almost
unchanged from the Apr-Jun 2014
quarter. The 2BHK category
continued to be preferred with
55 per cent buyer demand
4BHK &
above
44 43
44 44
Supply for 2BHK units lagged

demand by 12 per cent while it led
by 11 per cent in the 3BHK
category. A healthy demand of
30 per cent was noted for 3BHK
units. Larger units (4BHK and
Above) were also over-supplied
(Apr-Jun 2014)
(Jul-Sep 2014)
40
30
20
10
2 3
1BHK
60
Figures in percentage(%)
34 33
30
Demand for residential houses

witnessed a rise in the Jul-Sep 2014
quarter. It moved up to 12 per cent
as compared to the 6 per cent noted
in the previous quarter. Supply in
the category remained low at
5 per cent
SUPPLY
(Apr-Jun 2014)
(Jul-Sep 2014)
50
10
Residential Plot
9 9
3 4
1BHK
2BHK
3BHK
4BHK &
above
56 55
40
Apartments witnessed a demand of

80 per cent, 3 per cent lower than
the previous quarter. Supply in the
category stood unchanged at
87 per cent. Demand (8%) for plots
also dropped by 3 per cent
8 8
5 5
BHK Configuration - City Level

60
(Apr-Jun 2014)
(Jul-Sep 2014)
87 87
60
The Rs 40-60 lakh range was the

second most active category with
over 20 per cent demand and
supply. The Upto Rs 20 lakh and
Rs 1 crore and Above categories
were over-supplied in the current
Property wise Analysis
(Apr-Jun 2014)
(Jul-Sep 2014)
80
20
SUPPLY
100
80
Maximum demand and supply was

noted for properties in the budget
range of Rs 20-40 lakh. Both
demand and supply recorded a rise
of 1 per cent each, to settle at
46 and 36 per cent, respectively
Figures in Rs lakh
Property wise Analysis - City Level
83
l
(Apr-Jun 2014)
(Jul-Sep 2014)
50
45 46
50
SUPPLY
KOLKATA
08
DEMAND & SUPPLY - South Kolkata

Demand and supply of BHK configurations remained unchanged in the last six months.
With 57 per cent demand, 2BHK units continued to be the most preferred category while
supply lagged at 43 per cent. Larger units remained over-supplied at nearly 20 per cent.
Maximum demand and supply was for properties priced at Rs 20-60 lakh. More than
65 per cent buyer demand and nearly 55 per cent supply was noted for these properties.
With more than 80 per cent demand and supply, apartments continued to be the most
active category. Residential houses witnessed a growth in buyer interest this quarter.

Q1 Q2
13
12
22
19
15
17
26
25
16
16
Rs <20 lakh
22
22
Rs 20-40 lakh
31
32
11
41
42
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Rs 40-60 lakh
Rs 60 lakh-1 crore
Q1 Q2
Rs1 crore and above

DEMAND
10
7
12
Q1 Q2
6
89
7
6
87
81
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Apartment
Residential house
Residential plot
DEMAND
33
Q1 Q2
10
44
9
45
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
1 BHK
57
2 BHK
43
43
3 BHK
4 BHK & above
8
7
DEMAND
An over-supply of 7 per cent was noted for properties priced below

Rs 20 lakh. Supply in the category grew by 2 per cent in the
Jul-sep 2014 quarter, while demand dropped slightly to settle at
4 per cent
Buyers continued to prefer apartments in South Kolkata. It

remained the most active segment, even though both demand and
supply in the category witnessed a drop of 2-3 per cent in the
Demand for residential houses saw a significant rise of 6 per cent in

the Jul-Sep 2014 quarter as compared to the previous quarter.
Demand settled at 12 per cent, while supply stood at 6 per cent
Both demand and supply for residential plots stood at 7 per cent in
the current quarter. While demand dropped by 3 per cent as
compared to the last quarter, supply in the category inched up by
1 per cent
BHK wise Analysis
SUPPLY
58
32
Demand and supply for properties in the Rs 40-60 lakh category

remained almost stable in the last six months. Demand stood at
25 per cent while supply kept pace at 22 per cent
SUPPLY
BHK wise Analysis

Q1 Q2
6
84
A marginal increase in demand was noted for properties in the

Rs 20-40 lakh category. While demand moved up to 42 per cent,
supply lagged at 32 per cent. This was a rise of 1 per cent from the
previous quarter
SUPPLY

Q1 Q2
More than 55 per cent demand was noted for 2BHK units in South
Kolkata. Demand in the segment settled at 57 per cent in the
Jul-Sep 2014 quarter while supply stood unchanged at 43 per cent
Units of 3BHK were the most supplied category with 45 per cent
availability. Demand in the segment was lower at 32 per cent
While larger housing units of 4BHK and Above were over-supplied

by 6 per cent in the current quarter, smaller units of 1BHK were
under-supplied by 5 per cent. Demand in the 4BHK and Above
segment stood at 3 per cent, while 8 per cent demand was noted for
the 1BHK units
09
KOLKATA
DEMAND & SUPPLY - North Kolkata

North Kolkata witnessed the maximum supply of apartments with 90 per cent availability.
Demand dropped in the segment to settle at 81 per cent. Demand grew by 6 per cent for
residential houses, while it dropped by 2 per cent for plots.
Maximum activity was concentrated in the 2BHK category. Demand at 62 per cent led
supply by 10 per cent. Supply of 3BHK units led demand by 11 per cent with 36 per cent
availability. Affordable properties continued to be over-supplied leading demand by
12 per cent. The Rs 20-40 lakh range remained active with highest demand and supply.

Q1 Q2
62
10
22
60
6
9
16
49
6
11
18
48
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Rs <20 lakh
Rs 20-40 lakh
Rs 40-60 lakh
Rs 60 lakh-1 crore
20
8
8
DEMAND
17
8
19
Q1 Q2
6
13
90
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Residential house
Residential plot
Q1 Q2
6
36
6
36
53
52
62
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
1 BHK
2 BHK
3 BHK
4 BHK & above
11
DEMAND
With more than 80 per cent demand, apartments continued to be the

most active category in North Kolkata. However, a drop of
4 per cent was noted in the demand for these properties. Supply
stood unchanged at 90 per cent
Buyer interest developed for residential houses in the Jul-Sep 2014

quarter. Demand in the segment moved up by 6 per cent to settle at
13 per cent. Supply fell short by 8 per cent
Residential plots remained the least active category with both

demand and supply witnessing a drop during the current quarter.
While demand settled at 6 per cent, 2 per cent lower than the
previous quarter, supply stood at 5 per cent
BHK wise Analysis
6
SUPPLY
65
25
Both demand and supply moved up by 2 per cent for properties

priced at Rs 60-100 lakh. A significant over-supply of 12 per cent was
noted in the Jul-Sep 2014 quarter for affordable properties priced
Upto Rs 20 lakh
SUPPLY
BHK wise Analysis
25
6
90
Apartment
Q1 Q2
Demand witnessed a slight growth of 3 per cent in the Rs 40-60 lakh

category and settled at 22 per cent. Supply also inched up marginally
by 2 per cent to settle at 18 per cent in the current quarter
Q1 Q2
81
DEMAND
SUPPLY
8
7
85
A huge chunk of buyer demand was limited to the Rs 20-40 lakh

category with 60 per cent demand reported in the Jul-Sep 2014
quarter. Supply at 48 per cent, fell short by 12 per cent
Rs1 crore and above

Q1 Q2
More than 60 per cent demand was concentrated for 2BHK units,
even though the segment recorded a drop of 2 per cent in demand in
the Jul-sep 2014 quarter. Supply in the segment fell short by
10 per cent at 52 per cent
No change was noted in the 3BHK category in the last six months.
A healthy demand of 25 per cent was noted for these properties,
while supply led demand by 11 per cent at 36 per cent
Demand for 1BHK units moved up to 11 per cent as compared to the

9 per cent reported in the Apr-Jul 2014 quarter. Supply inched up by
1 per cent to settle at 6 per cent
KOLKATA
10
DEMAND & SUPPLY - West Kolkata

Maximum fluctuations were seen in the demand and supply of different parameters. A
drastic shift was noted in the demand patterns of property types. Demand shifted towards
apartments from plotted developments while, plots continued to be the most supplied.
Affordable properties were in excess supply. The Upto Rs 20 lakh range saw an over-supply
of almost 45 per cent while demand was over 20 per cent. More than half the demand was
concentrated for properties priced at Rs 20-40 lakh. Even though 2BHK units remained the
preferred category, demand for the same dropped by 8 per cent.

Q1 Q2
46
10
15
31
28
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Rs <20 lakh
52
58
65
Rs 20-40 lakh
Rs 40-60 lakh
Rs 60 lakh-1 crore
21
21
DEMAND
9
20
Q1 Q2
45
29
Q1 Q2
40
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
6
54
Apartment
Residential house
Residential plot
18
Q1 Q2
34
34
55
50
59
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
1 BHK
2 BHK
3 BHK
4 BHK & above
14
14
DEMAND
Significant changes were noted in the demand supply statistics of

different property types. To begin with, demand (57%) for
apartments witnessed a rise of 9 per cent from the previous quarter,
while supply (41%) dropped by 13 per cent
Demand for residential houses witnessed a growth of 7 per cent in

the current quarter to settle at 14 per cent. On the other hand,
supply moved up by 2 per cent to settle at 8 per cent
A significant rise of 16 per cent was noted in the demand of plots.

While demand stood at 45 per cent, supply in the segment jumped to
51 per cent, 11 per cent higher than the previous quarter
BHK wise Analysis
12
7
SUPPLY
67
27
Supply in all other categories remained low to negligible ranging

from 1-4 per cent. Demand dropped by 5 per cent for the Rs 40-60 lakh
category to settle at 15 per cent
SUPPLY
BHK wise Analysis

Q1 Q2
51
41
DEMAND
The Rs 20-40 lakh category remained the preferred budget range

with more than 50 per cent demand, growing by 6 per cent from the
previous quarter. On the other hand, supply lagged demand by
almost 25 per cent
57
SUPPLY
14
7
48
Affordable properties priced Upto Rs 20 lakh witnessed a

considerable over-supply of almost 45 per cent in the Jul-Sep 2014
quarter. While demand in the segment remained unchanged at
21 per cent, supply grew by 13 per cent in the last three months
Rs1 crore and above

Q1 Q2
Demand for 2BHK units, the most preferred category, dropped by

8 per cent to settle at 59 per cent in the Jul-Sep 2014 quarter. Supply
also witnessed a negative trend to settle 50 per cent, 5 per cent lower
than the previous quarter
The 3BHK units saw a rise in demand. It grew by 8 per cent from the
Apr-Jun 2014 quarter to settle at 27 per cent. Supply in the segment
stood unchanged at 34 per cent
Moderate demand and supply was noted for 1BHK units. While
demand inched up 1 per cent to settle at 14 per cent, supply moved
up by 5 per cent to settle at 12 per cent.
11
KOLKATA
DEMAND & SUPPLY - East Kolkata

Demand for residential plots dropped from 14 to 8 per cent while, supply stood stable at
9 per cent. A rise in demand was noted for residential houses with a growth of 4 per cent.
With over 80 per cent demand and supply, apartments remained the preferred category.
Supply exceeded the demand for larger units (3BHK and 4BHK and Above) with an
over-supply of 17 per cent. Maximum demand was noted for 2BHK units with 47 per cent
buyer interest. Preference for mid segment properties was visible by the fact that the
Rs 20-40 lakh range witnessed maximum demand

Q1 Q2
13
10
19
16
22
18
24
24
18
19
30
33
30
33
30
38
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Rs <20 lakh
Rs 20-40 lakh
Rs 40-60 lakh
Rs 60 lakh-1 crore
Q1 Q2
Mid segment properties were popular in the zone. Both demand and
supply inched up in the Jul-Sep 2014 quarter. While demand (38%)
rose by 5 per cent, supply (33%) increased by 3 per cent
A healthy demand of 30 per cent was recorded for properties in the

Rs 40-60 lakh category. However, supply lagged by 11 per cent to
settle at 19 per cent
Demand dropped for properties priced above Rs 60 lakh. A demand

of 28 per cent was noted for these properties. Supply in this category
led demand by 12 per cent. Affordable properties in the zone priced
Upto Rs 20 lakh were also over-supplied by 4 per cent
Rs1 crore and above

DEMAND
9
8
SUPPLY

Q1 Q2
14
8
9
10
81
83
86
87
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
Apartment
Residential house
Residential plot
DEMAND
Q1 Q2
40
47
47
Q1 Q2
11
48
9
51
Q1 (Apr-Jun 2014)
Q2 (Jul-Sep 2014)
1 BHK
2 BHK
39
38
3 BHK
4 BHK & above
10
7
DEMAND
Residential houses saw a rise of 4 per cent in demand during the

Jul-Sep 2014 quarter. It settled at 9 per cent while supply lagged at
4 per cent
A significant drop of 6 per cent was noted in the demand for plotted
developments. Supply also saw a negative trend dropping by
1 per cent in the current quarter. While demand stood at 8 per cent,
supply led demand at 9 per cent
BHK wise Analysis
SUPPLY
42
Apartments witnessed a rise of 2 per cent in demand to stand at

83 per cent while supply in the category inched up by 1 per cent to
reach 87 per cent in the current quarter
SUPPLY
BHK wise Analysis

Q1 Q2
The 2BHK category remained the preferred configuration in East

Kolkata. Demand was stable at 47 per cent, while supply dropped by
1 per cent to settle at 38 per cent. A slight rise in demand was noted
for 1BHK units
A healthy demand of 40 per cent was recorded for 3BHK units.

It continued to be the most supplied category in the zone. Supply
at 51 per cent, led demand by 11 per cent
Even though supply witnessed a drop of 2 per cent in the larger

4BHK and Above category, it led demand by 5 per cent in the
ANNExURES
13
KOLKATA
KOLKATA
CAPITAL VALUES LOCALITY WISE

Average Listed Residential Apartment Prices
Locality
Alipore
Capital Values
(Rs/Sq feet)
10200 to 13800
Locality
Khardah
Capital Values
(Rs/Sq feet)
2350 to 2750
BT Road
3350 to 4100
Lake Gardens
5450 to 6650
Baghajatin
3300 to 4150
Lake Town
4350 to 5700
Baguiati
2850 to 3550
Madhyamgram
2500 to 2950
Ballygunge
Ballygunge Circular Area
9550 to 12800
Madurdaha
3900 to 4550
12000 to 16050
Mukundpur
3150 to 3700
Nager Bazar
3250 to 4200
Bangur
4300 to 5200
Banshdroni
2950 to 3750
Naktala
3400 to 4300
Baranagar
3000 to 3800
Narendrapur
3100 to 4000
Barasat
2050 to 2600
Nayabad
3050 to 3500
Behala
3300 to 4200
New Alipore
5600 to 7350
Behala Chowrasta
3200 to 4050
New Town
4400 to 5600
8000 to 10150
5050 to 6300
Chinar Park Bus Stop
3550 to 4450
4500 to 5600
City Centre Newtown
3700 to 4850
4450 to 5400
Bhawanipur
Patuli
3600 to 4500
Dum Dum
3150 to 4000
Picnic Garden
4050 to 5050
Dum Dum Cantonment
2350 to 2800
Prince Anwar Shah Road
EM Bypass
5200 to 7200
Prince Anwar Shah Road Connector
4250 to 5150
EM Bypass Extn
3850 to 5050
Purbalok
4000 to 4850
EM Bypass South East
4250 to 5850
Rajarhat
3150 to 4100
Ganguli Bagan
3600 to 4400
Rajarhat Chowmatha
2600 to 3150
Garia
3200 to 4100
Rajarhat Main Road
3400 to 4300
Garia Boral Road
2750 to 3300
Rashbehari Avenue Connector
4750 to 6100
Deshapriya Park
Gariahat
8800 to 10800
7950 to 10800
9200 to 12450
Ruby Hospital
4450 to 5600
Salt Lake
5400 to 7000
Haltu
3700 to 4450
Hazra
7700 to 9500
Santoshpur
3800 to 4650
Jadavpur
4400 to 5750
Sinthi
2900 to 3900
Jessore Road
3950 to 5250
Sodepur
2700 to 3550
Jodhpur Park
7300 to 9100
Sonarpur
Kaikhali
3150 to 3800
Southern Avenue
Kalikapur
3950 to 4950
Tegharia
Kamalgazi
3450 to 4350
Thakurpukur
2850 to 3650
Kasba -East
4250 to 5350
Tollygunge
3850 to 5100
Kestopur
3050 to 3550
VIP Road
3500 to 4550
2700 to 3250
9700 to 11950
3350 to 4050
POLICY PERSPECTIVE
14
POLICY PERSPECTIVE
DELHI
NOIDA
DDA relaxes conversion norms
Nod to 10% circle rate hike in Noida
In a major relief to property owners in the city, DDA has

further liberalised conversion norms. As per the new rules,
even properties without a sanctioned building plan can be
converted from leasehold to freehold. Earlier, DDA considered
only those properties for conversion which had a sanctioned
building plan. Those without a sanctioned building plan will
have to submit an affidavit stating that a sanctioned building
plan is not available, a copy of the building planas
per building byelawsfrom a registered architect and a copy
of the house tax assessment order or electricity connection
order. In case documents submitted by the property owner are
found incorrect, then DDA can cancel the conveyance deed
without any notice.
New circle rates in Noida and Greater Noida have come into
force from August 1, 2014 with the district administration
approving a 10 per cent hike in the residential category for
registration of plots. Commercial properties saw a
2 per cent hike, with the exception of Sectors 18 and 38A,
where a 17 per cent hike has been approved. For institutional
properties, the circle rates increased by 10 per cent. There are
five categories of residential sectors in Noida. The circle rates
in these sectors range from Rs 35,000-86,000. In the flats
category, circle rates are evaluated as per the services
provided by the developer in a residential society.
n The Times of India, Delhi/NCR
Steep 20% hike in circle rates for Delhi properties

At a time when the real estate market is in a slump, Delhi
government has notified a revised circle rate regime that is
20 per cent higher than the existing rate structure across the
municipal valuation colony categorisation from A to H. Circle
rates, the minimum valuation at which a property can be
registered, have also been revised upwards for apartments.
The rise in circle rates directly impacts the stamp duty, which
will pinch the pockets of buyers ultimately and further push
down the buyers sentiments in the Delhi realty market.
n Magicbricks Bureau
Noida plans a double-decker elevated road

In a bid to reduce travel time between Delhi and Ghaziabad,
the Noida Authority wants to build a double-decker elevated
road from Sector 63 towards NH-24 and has sought an NOC (no
objection certificate) from the National Highways Authority of
India (NHAI). The starting point of the double-decker elevated
road will be at Chijarsi village in Sector 63. It will circle over
NH-24 and provide exit and entry points from Delhi,
Ghaziabad, Bulandsahar and Meerut. Officials said that they
expect the elevated road to be built at a cost of Rs 700 crore.
Once in place, the project will connect to the underconstruction Faridabad-Noida-Ghaziabad (FNG) Expressway.
n Magicbricks.com Bureau
GURGAON
GHAZIABAD
MCG clears Rs 20 crore infrastructure projects
Rs 16 crore infra projects for Ghaziabad
Municipal Corporation of Gurgaon clears big ticket

infrastructure projects. The finance and contract committee
headed by the mayor cleared development projects worth over
Rs 20 crore. According to the mayor, Vimal Yadav, most of this
amount will be spent on constructing bus queue shelters,
community centres, roads, sewer lines and water lines in
various parts of the city. The authority has already allotted
tenders for 26 projects. The works include constructing two
slip roads near the Atul Kataria Chowk and eight bus queue
shelters. The chowk witnesses a lot of traffic as this route is
frequently used to reach the old city. Once these slip roads are
made, it will ease traffic to a large extent.
Ghaziabad Municipal Corporation will undertake

infrastructure projects worth Rs 16.09 crore in the city, funds
for which will be made available by the states 13th finance
commission. Projects include a state-of-the-art plant in the
city to convert polythene waste into diesel products, to be set
up at a cost of around Rs 2.4 crore. It will be the first of its
kind in UP, said officials. The projects also include works
pertaining to water purification and supply, sewage disposal,
waste collection and disposal. Waste generated in the city will
be disposed in accordance with the system set up through this
project, till a permanent solid waste management plan is
implemented in Ghaziabad.
Unique IDS to track house tax payments in Gurgaon
GDA launched Madhuban Bapudham Scheme 2014
Soon property owners in the city will get a unique ID and

password each to keep track of the property tax paid by them.
The scheme, conceptualised by MCG, will also help the
corporation to keep tabs on the amount of property tax
generated, officials said. During a routine exercise,
authorities found that around Rs 70 crore of property tax
collected was unaccounted for. Thus, in order to bring in
transparency and to maintain records, the MCG has taken this
initiative. This facility is likely to be rolled out soon. The
authority is also planning to make a payment gateway so that
owners can pay tax through the MCG website itself.
In the last quarter, Ghaziabad Development Authority (GDA)

launched two flat schemes; the first scheme of 643 leftover
flats in Siddharth Vihar Yojna, Ghaziabad and the second
scheme is launched by the Ghaziabad Development Authority
in Madhuban Bapudham & Indraprastha Awasiya Yojna.
There are a total of 1120 flats available, 96 MIG in GDA
Madhuban Bapudham flat scheme 2014 and 1024 EWS flats in
Indraprastha Awasiya Yojna. The tentative cost of a MIG flat
is Rs 19.40-24.30 lakh and Rs 5.85-6.67 lakh for an EWS flat. For
this, GDA has decided to receive applications for all future
housing schemes through the online mode.
15
POLICY PERSPECTIVE
POLICY PERSPECTIVE
MUMBAI
AHMEDABAD
More FSI for Mumbai real estate before elections
Ahmedabad to see infra up-gradation
The state government in Maharashtra has been allotting more

FSI to real estate projects. They have cleared a hike in FSI for
re-development of slums along Mumbais airport land, for all
commercial buildings proposed in the notified airport area,
for exhibition and convention centres and for re-development
of Navi Mumbais old buildings and Thanes slums. Rules
have also been altered to allow more incentives to developers
taking up cluster re-development schemes in South Mumbai.
The government has taken off Chemburs heritage tag to
make way for more high-rises. Also, Chavan has sanctioned
changes in inclusive housing norms so as to exempt
developers from the mandatory provision of reserving a
percent of their projects for low-income groups.
AMC has decided that road re-surfacing projects in the city

will begin soon. The chairman of the road and building
department, Kantibhai Patel, said that the AMC will take up
re-surfacing of the roads on priority basis. The department
has cleared the plan to lay drainage lines as well, including
storm water drainage in the new west zone. In addition, the
committee has cleared a proposal for storm water drainage in
Ghatlodiya and Chandlodiya. The AMC has also approved
seven road re-surfacing tenders. Among these is one for the
2 km road in Chandkheda. The re-surfacing of the road
connecting Chanakyapuri to SG Road has got the green light.
n The Times of India, Mumbai
Government take steps to streamline land deals

Land disputes are common in a fast-growing economy but
Maharashtra government has been able to bring clarity over
property and tenancy rights by strengthening revenue
administration. The state government held special camps to
issue various certificates such as domicile, income, caste and
senior citizens certificates. Commenting on this, the state
chief minister Prithviraj Chavan said, In order to do away
with the uncertainty and delay in carrying out measurement
of land, E-Mojni an online land measurement system has been
implemented across nearly 300 talukas in the state.
n The Times of India, Mumbai
Gujarat signs three pacts with China

A high-level delegation from China that accompanied
President Xi Jinping to Ahmedabad signed three Memoranda
of Understanding (MoUs) with India in the presence of Prime
Minister Narendra Modi. The three pacts, signed within hours
of Xi's arrival, will focus on boosting trade and investment
between the two countries. The agreements include one
between China Development Bank and Industrial Extension
Bureau of Gujarat government for developing industrial
parks in the state to facilitate more Chinese investments.
Chinese investors will set up units in the industrial park. This
will boost employment in the city, thus expected to impact the
real estate market.
PUNE
KOLKATA
Rs 18 crore water plan for Hinjewadi gets state's nod
Several pacts signed during Mamata's Singapore visit
The state government has approved a project worth Rs 17.86

crore for augmenting water supply to Hinjewadi. The decision
comes a month after residents of the area staged a protest
demonstration against the inadequate water supply by the
Gram Panchayat. As per sources, about 40,000 residents will
benefit from the project, which is expected to be completed by
December next year. The main source of water will be the
Kasarsai dam, about 11km from the village. The government
has asked the Maharashtra Jeevan Pradhikaran, the zilla
parishad and the village panchayat to complete the project
within the set time.
Three major agreements were signed during West Bengal

Chief Minister Mamata Banerjee's visit to Singapore. The
meeting was aimed at attracting investments for the state. The
Singapore-based GIC-invested PE fund and city-based realtor
Hiland Group signed an agreement worth about Rs 200 crore
in the Calcutta Riverside Development project. The project is
near the metropolis. Another pact was also signed for a food
park, Axsys Technologies and Compass Energy Pte Ltd of
Singapore, which entered into a pact for solutions in ship
building and oil and gas exploration. This is expected to
generate jobs and is likely to impact demand for housing.
n The Times of India, Pune
PMC to identify quarries to dump construction debris
Smart New Town to grow vertically
With construction work in the city having picked up over the

years, along with renovations of flats and other properties,
debris is being dumped recklessly. Thus, the Pune Municipal
Corporation (PMC) will reserve quarries for dumping
construction debris while identifying the land-filling process.
Activists have often stressed that if PMC wants to check
further degradation of water bodies, land, public spaces and
green areas in the city, it has to look for immediate solutions
to re-cycle and re-use construction and demolition (C&D)
waste. Activists have repeatedly brought it to the notice of the
civic body that rivers and nullahs are choking because of
unbridled dumping by developers.
The government plans to develop smart cities and townships

across the state with high-density vertical buildings and
adequate green area. The New Town Kolkata Development
Authority (NKDA) has already started following the model for
Rajarhat New Town. An NKDA official said they are trying to
showcase New Town as the Singapore of Kolkata. The state
government has already come up with a new urban policy that
relaxes Floor Area Ratio (FAR) to make way for buildings with
larger space. According to the policy, 15 per cent additional
FAR will be allowed for mass housing, IT complexes and mega
commercial housing complexes.
POLICY PERSPECTIVE
16
POLICY PERSPECTIVE
CHENNAI
BANGALORE
Roads in Chennai may be relaid in concrete in 2 years
Tech solution to end fraud land deals in Karnataka
Almost all roads in the city, including arterial stretches such

as Poonamallee High Road and bus route roads in areas like
Nungambakkam and Kodambakkam, could be re-laid with
concrete in two years if things go according to the
corporation's plan. The project that will involve replacing
black-topped roads with concrete over a total of 441km is
expected to cost around Rs 1,600 crore. Although the monsoons
do not have a major impact on the Chennai real estate market
on the lines of Mumbai or Pune, but the initiative is looked
upon to avoid the water logging woes during monsoons.
The number of unauthorised layouts and fraud property

transactions has shot up alarmingly in the state, particularly
in the rural areas. Thus, the government has integrated the
software of two departments to avoid fraud transactions.
Middlemen trying to commit fraud will now have to hit the
wall at the sub-registrars office. Kaveri (Karnataka Valuation
and e-Registration) software of Karnataka Stamps and
Registration department has been integrated with E-Swathu
property software of the Urban Local Bodies (ULB) attached to
the Panchayat Raj and rural development department. This
will provide information to sub-registrars about properties
listed in the ULBs to verify.
n The Times of India
Soon you can park, shop at Chennai metro stations

Commuters will very soon be able to drive into Alandur Metro
Station, park and shop at a two-floor 1.18 lakh sq ft complex at
the back of the station before boarding a metro train. In less
than a year, Chennai Metro Rail Ltd (CMRL) plans to turn five
elevated stations into commercial hubs where people in the
neighbourhood can converge for an evening of shopping,
movies and dining out. With six months to go for
commissioning of the Koyambedu-Alandur Elevated Line,
CMRL plans to build a two to nine-floor buildings to rent or
lease to set up malls, retail stores and other establishments at
Alandur, Ekkattuthangal, Arumbakkam and CMBT stations.
Additional floors will also be built at Ashok Nagar station.
State government makes buying farmland easier

Karnataka government has made life a lot easier for investors
by doing away with the need of getting farmland converted for
industrial use after a project is approved by the government.
The agriculture land, where an investor has proposed a
project, is deemed converted once it is cleared at the highest
level. This will open up the flood-gates for good industrial
development. A committee chaired by the chief minister
clears investment proposals above Rs 50 crore, those below
that are approved by a single-window committee, headed by
the chief secretary. The relief is applicable to educational,
housing and green-house projects as well as places of worship.
n Economic Times
HYDERABAD
COIMBATORE
Nod to single window system in Hyderabad
Kovai infra gets Rs 2,000 crore boost
The Chief Minister of Telangana K Chandrasekhar Rao

recently announced the single window clearance system to
give all clearances for real estate projects. This is expected to
have a direct impact on not only the developers but also an
equally important bearing on buyers as well. As delay in a
project increases the cost by 30-40 per cent, which wires down
to the pockets of buyers at the end, the single window
clearance will streamline the process of approvals for real
estate projects which is expected to lead to faster delivery. He
also announced the withdrawal of Non-Agricultural Land
Assessment (NALA) tax imposed on the real estate firms.
In August, the state government announced several projects

worth over Rs 2,000 crore for infrastructure development in
Coimbatore city. The projects include 2,912 houses for the
homeless to be built at a cost of Rs 443.6 crore, underground
drainage and storm water drains in extended areas of the city
corporation at an estimated cost of Rs 1,555 crore and a
Rs 125 crore new integrated bus terminus. These projects are
in continuation of various infrastructure schemes
undertaken in the past three years keeping in mind the
growing population of Coimbatore. Healthcare and sanitation
are also the thrust areas in the latest announcement.
KCR announces world-class roads, corridors
CC seeks Rs 100 cr to boost drinking water supply
The state government, recently announced world-class roads

up to a length of 1,000 km at an investment of Rs 10,000 crore,
two corridors connecting the four corners of Hyderabad and
four lakh LED street lights in Hyderabad. The roads to a
length of 500 km would be completed in two years and the
remaining 50 per cent would be done in another two years, an
east-west four-lane corridor (skyway) would also be developed
between Vanasthalipuram and Ramachandrapuram and a
corridor will be developed between north and south. The
Outer Ring Road would also be developed in addition to the
existing one, with satellite townships and specialised clusters
like pharma, sports, health and cinema cities.
The supply of drinking water in the city is likely to get a boost

if the state government clears the Rs 100 crore proposal to
construct separate water tunnels for the Pilloor II scheme.
The Coimbatore Corporation (CC) council passed a resolution
to seek state government funds worth Rs 100 crore to make the
Pilloor II scheme more efficient. They plan to construct two
separate tunnels, one through the Periyakombai Mountains
through which the water would pass into the treatment plant
and the other through the Kattan Hill where the treated water
would flow into the pipeline. This will enhance livability
across the city and is thus likely to impact the real estate
demand in the area.
N OTES
DELHI
DELHI
CONTACT US
l
Post your feedback to propindex @timesgroup.com
Join our discussion forum at openhouse.magicbricks.com
For business enquiries sales@magicbricks.com
PROPINDEX TEAM
l
Content & Research: E Jayashree Kurup,

Dipti Tandon, Subodh Kumar, Rishab Jain,
Kanchana Dwarkanath, Sruthi Kailas,
Ankit Sharma, Bhawna Mongia, Renu Arya,
Aradhana Mozumdar, Girish Bindal, Neha Nagpal,
Puneet Kukreja & Bikash Kumar.
Layout Design: Harsha Khattar
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.

Kolkata PDF

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Kolkata PDF

Uploaded by

Copyright:

Available Formats

FOREWORD

are aggregated into their

been chosen based on

GLOSSARY & DEFINITIONS

VOL 4, ISSUE 2; JUL-SEP, FY 2014-15

NATIONAL PROPERTY INDEX (NPI)

The new government is expected

In addition to it increase in limit

witnessed the maximum activity.

In this edition of the PropIndex,

National Property Index...............1

VOL4, ISSUE 2; JUL-SEP, FY 2014-15

NATIONAL PROPERTY INDEX

The Ahmedabad City Index rose

in price or rental values. A clear

continued to drop across

Preferred Cities - Sale

Note: Q2 Jul-Sep 2014, Q1 Apr-Jun 2014

Preferred Cities - Rent

Note: Q2 Jul-Sep 2014, Q1 Apr-Jun 2014

VOL4, ISSUE 2; JUL-SEP, FY 2014-15

National - Consumer Budget Preference

Rs 2 Crore & Above

A minimum rise of 1 per cent was

Noida witnessed an increase in

The Mumbai City Index rose by

T OP YI ELD GROS SERS

In the last six months, Kolkata

other sectors noted a rise or a drop

Kolkata, Ballygunge Circular Area 10.25%

Ghaziabad, Dlf Dilshad Extn

Delhi, Rohini Sector-13

Gurgaon, South City II

VOL4, ISSUE 2; JUL-SEP, FY 2014-15

The City Index remained unchanged in the Jul-Sep 2014 quarter

In the last six months, Kolkata

Kolkata market offered one of

In the last six months, the top

Properties worth Rs 20-40 lakh

Demand outstripped supply

The city recorded an equal

Demand for larger housing units

The mid-sized, middle-budget units

VOL4, ISSUE 2; JUL-SEP, FY 2014-15

LISTED PRICE MONITOR

The capital market in Kolkata remained upbeat in

The rental market in Kolkata witnessed a revival

Jadavpur recorded the highest rise in capital values

Other localities that recorded a rise included

Rental values stabilised in Ballygunge, VIP Road,

Ballygunge recorded the highest rise in rental

A drop of 2-3 per cent was recorded in localities such

New Town Action Area-I, Behala and Alipore

The Magicbricks Yield Meter ranged between

Banshdroni continued to yield highest rental yield

Prince Anwar Shah Road

New Town Action Area 1

Localities that recorded healthy rental returns in

High capital values limited the rental returns to

VOL4, ISSUE 2; JUL-SEP, FY 2014-15

New Town Action Area 1 6

Note: Q2 Jul-Sep 2014, Q1 Apr-Jun 2014