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Source: Moneycontrol.com

Around 44% housing units under Rs 3.5mn unsold in India

Knight Frank India Pvt. Ltd. announced the launch of their database product “eyestate”. The product gives information and analysis of the residential, commercial and retail real estate market across the seven major metropolitan regions namely Mumbai, the National Capital Region, Kolkata, Bengaluru, Hyderabad, Pune and Chennai.

Around 44% housing units under Rs 3.5mn unsold in India

Leading independent global property consultants – Knight Frank India Pvt. Ltd. announced the launch of their database product “eyestate” that is jointly developed by Knight Frank Research and Indicus Analytics, India's leading economics research firm. The product gives information and analysis of the residential, commercial and retail real estate market across the seven major metropolitan regions namely Mumbai, the National Capital Region, Kolkata, Bengaluru, Hyderabad, Pune and Chennai.

 

eyestate, a comprehensive database solution of the real estate landscape of major Indian metropolitan regions has proved to be a myth buster. Results show that 28% of the properties under construction within the 7 urban centres cater to households looking for homes within the INR. 3.5 mn. category. This product caters to the needs of approximately 80% of urban households. Contemporary market belief would lead us to assume that all or most of this product would be absorbed as it is within the affordability criteria, but this is not the case. An astonishingly high 44% of these housing units are unsold today.

 

City  % of under construction apartments under INR 3.5 mn.   % of unsold under construction apartments under INR 3.5 mn.


City  % of under construction apartments under INR 3.5 mn.  % of unsold under construction apartments under INR 3.5 mn.
Pune 33% 25%
Mumbai 22% 36%
Chennai 40% 43%
NCR 28% 48%
Kolkata 47% 50%
Bangalore 17% 50%
Hyderabad 33% 55%
Total 28% 44%

       Source: eyestate – by Knight Frank India & Indicus Analytics.

 

eyestate will keep a constant eye on all current and upcoming residential, commercial and organised retail properties (mall and anchor level information). All information is acquired through an ongoing survey that will be updated every quarter.

Commenting on the launch Mr. Gulam Zia, National Director – Research & Advisory Services at Knight Frank India says “Today the real estate sector is plagued with incomplete and unreliable information that has left key decision makers helpless and handicapped. Seeing this gap Knight Frank and Indicus Analytics have jointly set about mapping the real estate market diligently and come up with “eyestate”.

Dr. Laveesh Bhandari, Director at Indicus Analytics said “eyestate is revolutionary real estate information software that will prove to be an essential tool for key industry players such as developers, banks, private equity funds, financial institutions and corporate houses.”

Commenting further on their association with Indicus Analytics Mr. Zia said, “Indicus Analytics is known for its thorough in-depth analysis in the economic research space. Economic intelligence coupled with Knight Frank’s real estate expertise makes eyestate a unique and undisputable data product that assures authentic and reliable ground level information.”
About eyestate:
eyestate is an intuitive, user friendly web-based software application that will provide a high level of flexibility to the users. It will provide several analytical cuts with a geographic and price/ type-wise split. Some of the reports generated will be –
• Absorption analysis, performance, rentals and completion analysis.
• It also facilitates an in-depth spatial analysis enabling the user to map properties at multiple geographic levels.
• Pre-loaded tools enable running queries, browsing data, creating graphs, locating properties on a dynamic map and several other features with a single of click of the mouse.


About Knight Frank India: 
Knight Frank India was started in 1995 and today has presence across 7 principal metros across the country and has delivered more than 3000 valuation reports and over 1500 consultancy assignments. Knight Frank India provides comprehensive range of real estate related services covering residential, commercial, land, investments, hospitality & leisure, valuation, advisory services, facilities management and project management.

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Mumbai
Capital Values Rate/Sq ft (INR)
Aajiwali
3000 - 5000
Ambernath
3000 - 5000
Badlapur
1000 - 3000
Bhandup (West)
11000 - 13000
Chembur (East)
15000 - 17000
Chembur (West)
11000 - 14000
Dombivali (East)
4000 - 6000
Ghatkopar
13000 - 15000
Heeranandani Gardens Estate - Powai
25000 - 30000
Hiranandani Gardens Estate - Powai
25000 - 30000
Kalyan (East)
2000 - 4000
Kalyan( West)
3000 - 5000
Karjat
1000 - 3000
Khandala
8000 - 10000
Kharegaon
5000 - 7000
King Circle
17000 - 28000
LBS Marg
12000 - 15000
Lonavala
3000 - 5000
Mulund (East)
11000 - 14000
Mulund (West)
11000 - 14000
Mumbai Nasik Highway
3000 - 6000
Powai
15000 - 17000
Senapati Bhagath Singh Road
3000 - 5000
Sion (East)
18000 - 21000
Sion (West)
17000 - 22000
Tilak Nagar
12000 - 22000
Ulhasnagar
3000 - 5000
Vikhroli
11000 - 14000
4 Bunglows
17000 - 28000
7 Bunglows
13000 - 23000
Chandivali
10000 - 15000
Malad (East)
12000 - 14000
Versova
21000 - 24000
Airoli
4000 - 8000
Belapur
6000 - 9000
Ghansoli
6000 - 8000
Kalamboli
4000 - 9000
Kamothe
4000 - 6000
Nerul
7000 - 10000
Palm Beach Road
12000 - 15000
Panvel
3000 - 6000
Sanpada
8000 - 10000
Sea Woods
8000 - 10000
Ulwe
3000 - 6000
Uran
3000 - 6000
Vashi
9000 - 12000
Altamount Road
62000 - 72000
Breach Candy
62000 - 74000
Chowpathy
48000 - 58000
Colaba
42000 - 46000
Cuffe Parade
67000 - 69000
Dadar(East)
32000 - 34000
Dadar(West)
29000 - 32000
Lower Parel
32000 - 34000
Mahalaxmi
38000 - 40000
Malabar Hills
68000 - 75000
Mumbai Central
23000 - 34000
Napean Sea Road
66000 - 74000
Parel
26000 - 34000
Prabhadevi
37000 - 39000
Tardeo
41000 - 49000
Worli
36000 - 41000
Andheri (West)
18000 - 20000
Andheri(East)
15000 - 17000
Bevarly Park
5000 - 7000
Bhayander (East)
5000 - 6000
Bhayander (West)
3000 - 5000
Boisar
1000 - 3000
Borivali (East)
11000 - 13000
Borivali (West)
10000 - 14000
Dahisar
4000 - 8000
Goregaon (East)
13000 - 17000
Goregaon (West)
12000 - 14000
Kandivali (East)
12000 - 14000
Kandiwali (West)
11000 - 12000
Malad(West)
9000 - 14000
Mira Road
5000 - 7000
Naigaon
1000 - 4000
Nala Sopara (Eastt)
3000 - 5000
Nalasopara (West)
3000 - 5000
Poonam Nagar
6000 - 8000
Shanti Nagar
7000 - 9000
Shrishti
6000 - 9000
Vasai Road
1200 - 4000
Virar
1000 - 3000
Note: Price trend are based on asking rate and not necessarily on the transaction date
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