Ahmedabad Real Estate Outlook Report H1 2015
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This is our third edition of the flagship half yearly report - India Real Estate. It presents a comprehensive analysis of the residential and office market performance of the Ahmedabad Region for the period between January–June 2015 (H1 2015).
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Ahmedabad Real Estate Outlook Report H1 2015
- 2. DURING THE LAST 6 MONTHS, AHMEDABAD HAS REPORTED ITS 5-YEAR LOW SALES VOLUME
- 3. SALES ARE 26% LOWER THAN THE SAME PERIOD OF THE PRECEDING YEAR 9,810 14,060 9,020 4,990 8,060 13,650 11,940 10,470 8,020 7,750 2,490 2,500 2,550 2,650 2,650 2,000 2,200 2,400 2,600 2,800 3,000 - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 Rs/sqft No.ofunits Launches Absorption Wt. Avg. Price (RHS)
- 4. NARODA, VASTRAL, NIKOL AND KATHWADA ROAD IN EAST AHMEDABAD HAS WITNESSED MAXIMUM NUMBER OF NEW LAUNCHES DURING H1 2015
- 5. 2% 29% 38% 18% 13% 5% 29% 19% 12% 35% 2% 33% 21% 26% 18% 0% 5% 10% 15% 20% 25% 30% 35% 40% Central East North South West H1 2014 H2 2014 H1 2015 NEW LAUNCHES IN WEST DROP AS DEVELOPERS STILL TRYING TO SELL THE PREVIOUSLY-LAUNCHED PROJECTS210 270 170 2,660 1,460 2,640 3,400 960 1,710 1,600 580 2,100 1,160 1,720 1,440
- 6. WITH PRICES IN OTHER PARTS OF THE CITY BREACHING THE INR 3,000/SQ FT MARK, EAST AHMEDABAD HAS EMERGED AS THE MOST AFFORDABLE ZONE
- 7. 86% OF THE NEW LAUNCHES DURING H1 2015 IN EAST WERE BELOW INR 2.5 MN 0% 20% 40% 60% 80% 100% Central East North South West <2.5 mn 2.5-5 mn 5-7.5 mn 7.5-10 mn 10-20 mn >20 mn
- 8. WEST AHMEDABAD IS THE WORST PERFORMING MARKET
- 9. NORTH IS THE BEST PERFORMING MARKET 5 8 11 14 5 8 11 14 Ageofunsoldinventoryinquarters QTS Central East North South West WEST SOUTH CENTRAL EAST NORTH
- 10. SITUATION IN PREMIUM MARKETS WORSENS
- 11. DESPITE FALLING SALES VOLUME, PRICES IN PREMIUM MARKETS RISE 500 590 400 1,240 460 780 620 430 530 420 5,150 4,920 4,900 4,950 5,140 3,000 3,500 4,000 4,500 5,000 5,500 6,000 - 200 400 600 800 1,000 1,200 1,400 Rs/sqft No.ofunits Launches Absorption Wt. Avg. Price (RHS)
- 12. PREMIUM MARKET UNSOLD INVENTORY STANDS AT 5 YEARS, WHEREAS IT IS AROUND 2 YEARS FOR THE CITY
- 13. PREMIUM MARKETS AHMEDABAD CITY 0 4 8 12 16 20 No.ofQuarters HIGHER LAUNCHES INCREASES PRESSURE ON PREMIUM MARKETS
- 14. THE PROSPECT OF A DOUBLE DIGIT GROWTH IN PRICES - NOT A REALITY
- 15. OUTLOOK FOR THE NEXT 6 MONTHS LAUNCHES (UNITS) SALES (UNITS) WEIGHTED AVERAGE PRICE (INR/SQ FT) H2 2014 4,990 8,020 2,650 H2 2015E 6,790 8,890 2,730 GROWTH 36% 11% 3%
- 16. HOW DOES AHMEDABAD STAND COMPARED TO OTHER CITIES
- 17. LAUNCHES - AHMEDABAD TO SURPASS H1 2014 H2 2014 MUMBAI 35,512 26,833 NCR 35,500 37,643 BENGALURU 35,545 32,589 PUNE 16,883 16,700 CHENNAI 11,377 7,318 HYDERABAD 7,899 5,151 KOLKATA 8,444 11,891 AHMEDABAD 9,021 4,991 CHENNAI AND HYDERABAD H2 2015 BENGALURU 21,400 MUMBAI 18,887 PUNE 12,762 NCR 11,360 CHENNAI 9,102 AHMEDABAD 8,062 KOLKATA 8,372 HYDERABAD 5,457
- 18. SALES - EVEN IN SALES, AHMEDABAD H1 2014 H2 2014 H2 2015 MUMBAI 31,210 36,505 28,446 NCR 28,500 12,075 22,234 BENGALURU 27,256 28,445 15,524 PUNE 14,719 20,150 12,825 CHENNAI 10,315 10,643 9,091 AHMEDABAD 10,472 8,019 7,123 HYDERABAD 7,282 7,829 5,883 KOLKATA 6,390 6,245 7,751 WILL CONTINUE TO SURPASS HYDERABAD AND KOLKATA
- 19. AHMEDABAD PRICES STILL LOWEST IN INDIA 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Rs/sqft Mumbai NCR Bengaluru Pune Chennai Hyderabad Kolkata Ahmedabad MUMBAI PUNE AHMEDABAD HYDERABAD KOLKATA NCR BENGALURU CHENNAI
- 20. 5 7 9 11 13 15 5 7 9 11 13 15 17 19 Ageofunsoldinventoryinquarters QTS MUMBAI PUNE AHMEDABAD HYDERABAD KOLKATA NCR BENGALURU CHENNAI PERFORMANCE OF AHMEDABAD RELATIVELY BETTER THAN MOST OTHER CITIES
- 21. KEY TAKEAWAYS AHMEDABAD REPORTS A 5-YEAR LOW SALES VOLUME IN H1 2015
Hinweis der Redaktion
- New launches in North Ahmedabad have dropped significantly in the last year, as developers are still trying to sell residential units in their previously-launched projects that remain unsold despite nearing completion
- Affordable pricing, good connectivity to major retail destinations in West Ahmedabad through S G Highway, easy access to the GIFT city in the North and restricted new launches during H1 2015 have helped this micro-market in performing relatively better than the rest of the city. Even the age of inventory in this micro-market is low, as the majority of the unsold inventory belongs to the recently-launched projects
- Product differentiation, extra amenities and close proximity to the city centre have helped the newly-launched projects command a stronger price growth in these locations. The premium market of Ahmedabad constitutes locations such as Ambawadi, Bodakdev, Jodhpur, Navrangpura and Prahlad Nagar.
- the prospect of a double-digit growth in prices remains bleak in Ahmedabad, as infrastructure development such as the Bus Rapid Transit System (BRTS), Sardar Patel Outer Ring Road and the under-construction metro rail project will continue to make newer locations in the periphery of the city, with cheaper land rates, more accessible.