July 2014
| Vol. 01
NUMBERS BEHIND GURGAON 2013 - 14
NUMBERS BEHIND GURGAON 2013 - 14
CONTENTS About the Region ...........................................................
06
Real Estate Numbers Gurgaon Statistics ..............................................................
08
The ROI Index (Changing price trends) ..............................
10
Prominent Projects ...........................................................
12
Quality of Life Index The Happiness Quotient ...................................................
14
The Safety & Wellness Index .............................................
16
Social factors to consider ..................................................
17
The Proximity Index ..........................................................
18
Game Changers .............................................................
20
The Outlook ....................................................................
21
About Us and Our Research Approach ........................
22
Glossary .........................................................................
24
About The Region Located South West of New Delhi, Gurgaon has become well known as the leading financial center in North India. An overpowering corporate presence, industrial centers and a largely youth driven population are the highlights of this micro city. This report would delve on various aspects of Gurgaon, its past trends, administrative plans for the future, the level of happiness of their residents in its current capacity, future projections and things to look forward to for the development of Gurgaon.
GURGAON 15,14,432
Population as per 2011 Census
DLF Ph. 1-2, Sec 31, 33, 43, 46, Golf Course Road etc.
Major Residential Sectors
Happiness Quotient Our Happiness quotient suggests, that residents of Gurgaon rate the region ‘Moderately’ on this quotient. There is a lot to be done to get a broad smile to their faces. Some of the critical parameters impacting this percentile are - lack of infrastructure including roads, water supply, cleanliness, safety issues etc. At the same time abundance of commercial spaces and work opportunities in the region, more and more life after work opportunities with many restaurants, eating joints, hangout places for the younger generation help balance Gurgaon’s score on this matrix. Read more about the views of the residents of Gurgaon and what makes them happy staying here on page 14.
06
8%
Planned Open Spaces
Quick Facts*
1
With a population of over 15 lacs Gurgaon is one of the largest micro cities in india.
2
More than 250 of the Fortune 500 Companies have their presence in Gurgaon.
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STATISTICS 1,204
Population Density Per Sq. Km.
IFFCO Chowk, HUDA City Center, Cyber City, Galleria etc. Important Locations
33,726
Land Size in Hectares
3
Real estate has seen one of its biggest booms in this region in the last decade prior to 2013.
4
Gurgaon as a micro city is fast expanding with Manesar, Bhiwadi, Sohna and neighbouring village/ towns joining in the development.
ROI Index Looking at the investor’s outlook for the region the real estate markets in Gurgaon have been falling for past many months due to a slowdown in the overall market, reducing IIP numbers, increasing burden on the limited infrastructure in the area and overly priced inventory etc. coupled with newer developments coming up in close vicinity including Noida and Ghaziabad. The ROI Index shows that the investment opportunity in medium and long term as warm and that in short term as lukewarm. Moving forward from the macro parameters our studies have shown a mixed response on the micro aspects effecting price trends. Where the lack of water resources, questionable township planning, lack of cleanliness and drainage systems pull the region down on the scales, rapid cosmopolitan cultural growth, increasing population trends, life and work balance and the growing focus from the youth due to commercial infrastructure prevalent in the region balances our outlook for Gurgaon.
Proximity Index Just 12.5 kms from the Indira Gandhi International Airport, connected with 5 metro and 12 rapid metro stations, with the KMP, FNG and other upcoming expressways proposed within its territory; extremely close proximity to the National Capital of Delhi, Gurgaon scores decently on the proximity charts and has all the ingredients to be the leading city in the country in the near future. At the same time limited public conveyances, low connectivity of the rapid metro etc. are areas to improve upon. Read more about Gurgaon’s proximity and its significance in Gurgaon’s growth on page 18.
Sources: Gurgaon with third highest per capita income in India- Harsimran Julka – IT Firms looking beyond Gurgaon, Noida to other cities in North India (Economic Times, 20th Oct. 2011) * Gurgaon Statistics: Gurgaon Master Plan 2031, Census 2011
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Statistics
The Real Estate Numbers About this section The section ‘Real Estate Numbers’ focuses on the ever critical financial aspects of a region that directly impact the price trends, appreciation levels and its future projections. This report of Home Makers has tried to provide decisive data from the city master plans, population census, on-ground and online studies conducted by the team that go a miss many a time. The ‘ROI Index’, a part of this section, is a fast evolving tool being developed by the team that amalgamates multiple aspects impacting price trends and acts as a guide for investors in their decision making process. The ‘Prominent Projects’ section lines up a few of the talked about upcoming developments in the region.
08
33,726
110.01
(In Hectares)
(Average PM10 levels)
Total Area
Air Pollution
4.79%
47.47%
13.68%
17
Planned Commercial Use of Land
Planned Industrial Use of Land
Planned Residential Use of Land
Metro Stations Planned
( Including Rapid Metro )
Population Graph 8,70,539 in the year 2001 15,14,432 in the year 2011 42,50,000 estimated in the year 2031 From the above data it is amply clear that the estimated decadal population growth in Gurgaon would slow down in pace as compared to the period from 1971–2001. With the planned holding capacity of the region adequate to host the estimated growth in population, even if the population increases at a faster rate, a large majority of it should get accommodated under the planned development of the authorities. Out of the 1616 hectares of land planned for commercial development only over 400 hectares of land has currently been developed by the authorities. It would be interesting to keep in mind the high commercial inventory levels in the region, the proposed level of developments and the impact it would have on demand for commercial spaces and prices.
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Amenities
15.2 Mtrs.
106
Average Depth at which water is available
Prominent Schools
(Below Average)
135
28
Prominent Hotels
Prominent Colleges
Average Price Trends of the Gurgaon Discrict Plots (In Sq. Yards) Min 56,283
Avg. 96,157
Max 1,76,998
Apartments (In Sq. Ft.) Min 4,053
Avg. 7,667
Max 13,753
The 17 metro stations include the rapid metro stations planned in the 2nd phase of the rapid metro. With further phases of the rapid metro planned for the near future, connectivity within the region is sure to improve. Gurgaon also has a good road connectivity with neighboring regions and important locations such as the airport, city centers, prominent office spaces etc.
From the tables we would like to bring to your notice that the prevailing water tables in Gurgaon are as low as 15.2 meters. A study conducted by Jamia Milia University in the recent past brought forward the fact that in the corporation areas of Gurgaon water tables are receding at a speed of 7 feet every year. The water table is prevalent around 280 ft. (as per the report) with no ground water available after 600 ft. (As per Jamia Millia Ground Water Report*) Average noise density in the region is above the averages found in other surrounding regions due to heavy commercialization, road traffic and industrialization within its boundaries. With increasing number of foreign and Indian multinational companies setting their base in the city the demand for social infrastructure within the city has increased significantly. This has lead to the establishment of a large number of schools, colleges, hotels, restaurants etc, a study of life-after-work rankings of various cities in India also ranked Gurgaon highly in its study. A large youth population, ample work opportunities and proximity to the National Capital Territory has made Gurgaon a location of choice for many. Gurgaon has seen a rapid spurt in the region’s real estate growth in the past decade. Essentially starting from mid 1990s the micro-city has seen growth in high double digits consistently till the year 2012. As you would notice in most cases the return on investment has been of a higher percentage in plots / land than in apartments bought in various housing societies. A key number to look at is the number of dwelling units that were offered possession in the year 2013 and even lesser number of planned deliveries in the year 2014. As is the general trend in the real estate sector the number of completions by developers falls when the markets are seeing a down turn and prices are rock bottom. A similar trend is evident in Gurgaon at this point of time.
AMENITIES: NCR Planning Board- Water report (Regional Plan 2021), Gurgaon’s ground water records to average 7ft: Study (Times of India, 15th Nov. 2013) STATISTICS: Gurgaon Master Plan 2031, Census 2011, DMRC Phase 3 & Rapid Metro Plans. Google search, on-ground visits, Directorate of Education & Central Board for Secondary Education data, relevant government data, www.expedia.com, www.cleartrip.com, www.magicbricks.com, www.99acres.com, AIR POLLUTION: Average PM10 levels have been considered for 1.7.2014 to 20.7.2014 i.e. the moth of release of the study. Source: Haryana State Pollution Control Board.
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ROI Index
Price VS Growth
Gurgaon has seen a steady appreciation in property prices in the past decade barring the real estate slump of 2013-14. It has been on the radar for all major developers, investors and corporate houses in the country and has become a location of choice for all of them. This section of the report takes you through the ups and downs that the Gurgaon real estate market has seen in the past few years. Gurgaon has been the dream real estate investment destination for many. The appreciations shown by the city in the period of 2007–08 would beat most other investment options available in those years. Though a volatile market, lack of planning and infrastructure such as quality roads, drainage systems, flyovers, public transport, water levels etc. have acted as a road block in Gurgaon’s speedy growth. Even though large tracts of land are still to be developed in the region; A high inventory level, lack of internal connectivity and of industrial boost in the region has seen the transaction prices fall in Gurgaon by over 20% in many of its sectors. The average growth of Gurgaon for the year 2013 also stood at its least as compared to the last five years. The ROI Index takes in to account numerous factors including past price trends, demand & supply factors, projected industry stats, consumer sentiments in the short term, planned infrastructural development and macro parameters that would shape the future of the region.
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(Price per Sq. Ft.)
INR 7,667 INR 7,535 INR 6,615 INR 5,479 INR 4,365 INR 4,044
Major Sectors With Their Price Trends (Price per Sq. Yards) 2014
1,42,137
87,105
1,64,165
1,53,594
1,06,763
1,34,137
1,81,094
1,04,265
2,01,128
1,21,417
91,452
2,30,850
2011
55,085
57,004 39,800
86,196 75,683
2009
DLF Ph-4
Golf Course Road
DLF Ph - I
93,265
1,26,072
69,425
84,526
1,22,904
78,038
80,618
1,02,167
84,372
73,880
84,166
74,926
2011
36,035 28,936
48,593 38,112
33,532 25,926
2009
Malibu Town
Sector 43
Sector 57
75,429
2013 2012 2010
2014 2013 2012 2010
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The ROI Index Signifies the estimated trends of real estate prices.
Key Factors to Consider The period in which a project has been launched or delivered for possession.
In Short Term
In Mid Term
In Long Term
Luke Warm
Warm
Warm
(< 3 Years)
(3-7 Years)
( > 7 Years)
High Return Period Signifies the percentage of real estate which has shown better returns
9%
In Short Term (< 3 Years)
58%
In Mid Term (3-7 Years)
*38%
In Long Term (> 7 Years)
*The figure has been taken as a projection keeping in mind the trend graph of a 7 year period
Economical for End User Signifies the percentage of real estate which would have been more economical on rent or as a purchase
81% vs Rent
19%
Purchase
Insights High inventory levels and to be delivered projects. Expectations of IIP numbers growing in the near term. Issues with environmental clearances for many projects. Increasing demand for rental properties due to the young working population. Connectivity through the metro and rapid metro a key with better roads. Completion of the Dwarka, KMP and FNG expressways.
SOURCES: www.magicbricks.com, www.99acres.com have been referred for both new bookings and resale cases.
The connectivity of the project to Delhi. The proximity of the project to key commercial centers of Gurgaon. Highest return on investment has been achieved in Gurgaon for most sectors in the medium term of 6 – 7 years.
The ‘ROI Index’ graph for Gurgaon looks wary in the short term due to the current hit that the market has taken and the fundamental issues that the region faces including lack of infrastructural facilities, inadequate planning, deteriorating roads, low connectivity within the region barring its epicenter and fast depleting water tables. This is due to have an impact on the region in the near term. At the same time keeping an eye on the fast growth of Gurgaon in the last decade, its strong financial hold and the anticipated growth of the district with areas such as Manesar, Bhiwadi, Sonepat, Sohna, Kundli etc. to increase pace of growth and development in the future it is safe to say that the short term issues of the region will find their solution and growth would normalize and escalate in the medium and long term respectively. The ROI Index is a comparative tool and takes into account the developments of neighboring regions while estimating the region’s internal factors.
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Prominent Projects In the recent past Gurgaon has seen hundreds of project launches many of them successful and some that have not caught the investorâ&#x20AC;&#x2122;s eye. In this section of the report we bring to you some of the popular launches that have successfully given investor returns in the recent past. The section highlights some of the key upcoming projects in the region. The above list is not an exhaustive list by itself and does not mention the projects in any order of preference. Home Makers does not, at any level, promote or holds preference for any of the mentioned projects and this list of projects has been added for information only. In order to cover the vast territory of Gurgaon and its developments we have tried to equally cover the upcoming regions of New Gurgaon, Sohna Road, Gurgaon â&#x20AC;&#x201C;Dwarka Expressway and the sectors 89,86, 109, 108 and 72.
While evaluating any project we would urge you to study the following aspects closely: The current status and planned administrative development of the location including its connectivity, amenities, social infrastructure etc. The nature of the project being evaluated and whether all the aspects of a township are being culminated in that region / pocket. Developer background and delivery of past projects both from the angle of time taken and quality of construction.
The construction agency and other stakeholders involved with the project. The financial soundness of the developer and their debt-to-equity ratio.
SOURCES: www.99acres.com
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Ireo Skyon Developer: Ireo
Gurgaon Sec - 60
Estimated Completion: 2015
The Residences Developer: Unitech
Gurgaon Sec - 33
Estimated Completion: 2015
Emerald Floor Premier Developer: Emaar MGF
Golf Course Extn. Road
Estimated Completion: 2015
Vatika Next Developer: Vatika
Gurgaon Sec - 82
Estimated Completion: 2015
Tata Primanti Developer: Tata
Estimated Completion: 2016
Emaar Palm Gardens
Developer: Emaar MGF
Gurgaon Sec - 72 Gurgaon Sec - 83
Estimated Completion: 2016
DLF Sky Court Developer: DLF
Gurgaon Sec - 86
Estimated Completion: 2016
DLF Crest Developer: DLF
Estimated Completion: 2017
Lotus Green Woodview Developer: Lotus Green
Gurgaon Sec - 52 Gurgaon Sec - 83
Estimated Completion: 2017
Ramprastha Primea Developer: Ramprastha Estimated Completion: 2017
Gurgaon Sec - 86
Quality Of Life About the Section ‘Quality of Life’ index evaluates the equally important social aspects of a region. These aspects go beyond the traditional demand & supply numbers; price trends etc. and actually give you an insight on the quality of life in the geography being referred to. It is important to keep in mind that it is this quality that attracts a person to make the critical decision of whether to settle in one location or the other. There are many regions that have seen the initial rise in real estate and have been much talked about but never really developed as a choice to consider for the end-user. We at Home Makers believe that it is extremely important to keep an eye on this index for evaluating the development of the region in the medium and long term.
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Happiness Quotient (Higher percentages are considered better)
Ever thought of what a neighborhood feels about a given society or a town, what are the issues they face or what brings them to love their city everyday. If you knew these aspects before hand could you be better assisted to choose your dream location? The team at Home Makers started with the task to actually understand How Happy people are in Gurgaon, what are the issues prevalent and what makes Gurgaon the location of choice for many. The three most critical factors that had a positive impact on Gurgaon’s score on the happiness quotient were the avenues for life after work that included a high number of quality malls, restaurants, clubs and ample work opportunities by having more than half the fortune 500 companies and hundreds of smaller companies, ease of connectivity to Delhi NCT via the NH-8. These factors made Gurgaon beat many other regions of Delhi NCR and rest of the country. Not all was good about the region though as it fell short on providing a number of amenities in the region in a quality manner including roads, transportation, water, drainage and cleanliness which kept the Happiness Quotient score at a balanced 63%. There are many avenues for Gurgaon to work on and many areas to improve further. Safety for its citizens, connectivity of the metro rail in all parts of Gurgaon, quality of roads and flyovers, development of its sub-zones including Bhiwadi, Manesar and Sohna would hold the key to Gurgaon’s development in the medium and long term.
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Scores
Highlights
64%
Amenities Available
57 %
Feeling of Security
67%
Proximity to Work
67 %
Has ample work opportunities for its residents and actually provides work opportunities for people from other parts of Delhi NCR. Has a good work life balance with ample recreational facilities. Scores below average on security levels, quality of roads and administrative maintenance.
Availability of Recreation Facilities
15
47.17%
Safety & Wellness Index (Higher percentages are considered better)
Thousands of emergencies take place every month where patients are needed to be rushed to the hospitals in near by locations. Thousands of crimes take place every year in Delhi NCR, many of them fatal. Also, there is a major concern of the safety of women in the NCR and especially in the new and upcoming regions. Gurgaonâ&#x20AC;&#x2122;s scores in regards to number of FIRs in the region is lower than the NCR average and this keeping in mind that a lot of crime in the under developed areas of the region goes unaccounted for.
Scores The below data is indicative and represents a comparative scope with other regions of Delhi NCR.
59 %
Air Pollution
55 %
Crimes Under IPC
The Safety & Wellness Index shows the true picture of Gurgaon and how it fairs on the safety and wellness charts. The parameters included in the study include a check on the crime rate in the region, health records, presence of specialty hospitals in the region, air & noise pollution records, road safety etc.
8%
Connectivity to Police Stations
While speaking to the residents of the region the team found that road safety in Gurgaon is becoming a major issue in the recent years. The number of petty crimes in the region are a growing issue while the police has been able to curb on the serious crimes in the region. Increasing road traffic, industrialization and infrastructural development has got the air pollution levels to soar up in the last couple of years. As compared to other regions of Delhi NCR, Gurgaon has relatively low number of specialty hospitals and police stations per sq. kms are also lesser in number as per the NCR average. This again reinstates the fact that Gurgaon has to work hard on its infrastructure and availability of necessary amenities in the region in order to show holistic growth across the zone and develop as a self sufficient city by itself.
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12.78 % Connectivity to Hospitals
Highlights Relatively higher crime rate as compared to the well established regions of Delhi NCR. Due to a vast area being covered in the Gurgaon district the number of hospitals, police stations and other amenities available in the region are still below the desired levels. www.homemakers.co.in
Interesting Facts The statment show the top responses and the respective percentages
Gurgaon scores highly in availability of market places and connectivity to all amenities of life. Connectivity & Market Places
55.30%
Peaceful & Green Environment
28.79%
Helpful & Friendly People
15.91%
A majority of the respondents were employed service professionals or students and a smaller proportion was that of businessmen. Self Employed
34.90%
Employed & Professionals
43.62%
Others
21.48%
A large majority of the respondents had their work areas within 8 kms of their residence. Under 3 kms
50.38%
3 - 8 kms
22.69%
8 - 15 kms
11.92%
More than 15 kms
15.00%
Social Factors to Consider A quick survey undertaken by the Home Makers team in the region showed some eye opening facts about the region and should surely be considered while making a decision on whether or not stay or invest in Gurgaon. The results besides are part of a sample survey conducted in Gurgaon in sectors 44, 45, DLF Phase 1, Golf Course Road, 31 and 15. The sample included over 300 responses equally represented by men & women, working & non-working sections, youth and the old, employed people and businessmen. A standard survey process flow has been used for all Home Makers on-ground surveys conducted in any region. The above charts bring forward the trends in the region but may not represent all of Gurgaonâ&#x20AC;&#x2122;s population.
Cleanliness is a major concern in Gurgaon with absence of quality drainage systems. Poor quality of roads is a closed second. Cleanliness & Drainage
43.78%
Roads & Infrastructure
32.84%
Safety
23.38% 17
Proximity Index The below chart highlights Gurgaonâ&#x20AC;&#x2122;s proximity score to various prominent locations, landmarks, connectivity zones of Delhi NCR and nearest amenities within the region. It is important to keep in mind a critical aspect for development or appreciation of any region is its location and proximity to all important parts of the city and amenities / services.
Proximity Chart
Connectivity
Critical 52.96% Transportation Points SCORE
The below data is indicative and represents a comparison with other regions of Delhi NCR.
44%
Proximity Index
SCORE
Prominent 42.69% Junctions
68%
Distance from work place score
60%
Market Connectivity Score
18
Amenities 38.51% & Public Conveniences SCORE
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Closest
Railway Station
135 Hotels
Furthest
Metro Station
Airport
ISBT
NH-8
KMP Outer Ring Expressway Road (Delhi)
Ring Road (Delhi)
73
Hospitals
26
Police Stations
26 Malls
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Game Changers Will Gurgaon be able to repeat its real estate numbers of the last decade? Will it continue to be the location of choice for Foreign & Indian multinational organizations? These are pivotal questions that Gurgaon faces today and the answers to this would depend a lot on the below factors.
Macro Factors Co-Related to Gurgaonâ&#x20AC;&#x2122;s Growth IPCC numbers:
The ROI Index study for Gurgaon has shown a substantially high positive correlation between industry production numbers and real estate price trends in the short term for the region and hence will be important to look at while estimating future growth.
Performance of the SENSEX:
While studying the correlation of Gurgaonâ&#x20AC;&#x2122;s real estate with other industry indicators a high positive correlation was also seen with the trading levels of the SENSEX. Essentially a positive sentiment in the market has drawn more investors and investments to the Gurgaon market in the past and would play a crucial role in the future.
Growing Inventory Levels:
The growing inventory levels in the region, large number of units that are pending completion/possession and the slow rise in demand for real estate is going to have an impact in the short and medium term in Gurgaon. It would take time for the existing inventory to be absorbed and for the demand and supply dynamics to normalize.
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Key Factors 1. Job Opportunities
Gurgaonâ&#x20AC;&#x2122;s rise as a preferred choice of residence was primarily keeping in mind the growing job opportunities and the commercial real estate sector in the region. As this report shows a larger sample of Gurgaon is working within the micro-city itself. The speed at which the growing commercial inventory of Gurgaon is going to be consumed is going to have a direct impact on the residential sector.
2. Lack of Internal Connectivity
Internal connectivity and infrastructure especially roads and drainages have been a question mark in the region. This is especially true for the newer not so popular sectors of Gurgaon. In order to see a sustainable growth in the region the infrastructure issue would need to be resolved.
3. Infrastructure Projects in Pipeline
Completion and start of the KMP, Dwarka and Mehrauli Gurgaon expressways is going to provide new land for development and encourage more population to settle in the region.
4. Depleting Water Tables
Rising issues of the depleting water tables, dependence on water tankers for some parts of the region is a question mark on the sustainability of Gurgaon. The administration will have to take strict measures to counter these issues. Under process and upcoming constructions will not be able to be completed if such a scenario persists.
5. A Need Gap
Development of quality social infrastructure including hospitals, colleges, schools, police stations etc. The current number of these amenities in Gurgaon is lesser than the ideal averages for the region. Safety of the youth will also be an important parameter for Gurgaon to score better on.
6. Emerging Sub-zones
Development of the upcoming zones / villages within Gurgaon including Manesar, Bhiwadi, Kundli and Sohna as these are the regions that would be offering affordable housing options for the middle class and would overall increase the demand for real estate in the region. The growth of these regions will also add more epicenters* to the existing list thereby increase the demand for real estate within Gurgaon.
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The Outlook Gurgaonâ&#x20AC;&#x2122;s real estate sector has seen a fall in its prices, in most areas, in the last few quarters with challenging market conditions, low demand levels and uncertainties / delays in many residential projects due to economic and environmental factors. At the same time Gurgaon has received stiff competition from other neighboring NCR regions in the commercial space due to the high rental price levels in the region, thereby leading to high inventories in this space. At the same time with the economy expected to get back in shape in the near term demand for commercial spaces in Gurgaon should gain momentum. Home Makers would keep a close eye on these developments. Affordable housing options, infrastructural development in industrial corridors and commercial leasing of office spaces would play a key role in higher levels of population growth in the suburb regions. In the short term with high interest rates, current inflation levels and stagnant prices renting a house would remain a more economical proposition as compared to buying one for the end users. Big positive for Gurgaon- its young working population would remain a big strength for the micro-city to develop faster and become a location of choice for a lot of foreign players entering /expanding in the Indian market. Watch out for the Happiness Quotient in our next Gurgaon edition. Introduction of the Kundli-Manesar-Palwal (KMP), FaridabadNoida-Gurgaon (FNG) and Dwarka Expressway would add to the connectivity levels of Gurgaon and make it even more approachable from the rest of Delhi NCR. Watch out for the Proximity Index in our next Gurgaon edition. Gurgaonâ&#x20AC;&#x2122;s stable real estate outlook would heavily depend on the quality of infrastructure and reach of the basic amenities to its population. It is amply clear that with a high percentage of youth living in the region a stable demand for housing is not going to deplete in the medium term. Delivery of Infrastructure and connectivity would always remain a key in the long term.
Live Wire > A bottle-neck in the short term with the real estate prices going through a correction / normalization phase after the recent drops. > Slow conversion and occupation of residential inventories in the suburb locations due to heavy dependency on intake of the commercial spaces and boost in the job market. In comparison to all the suburb regions Manesar maintains a relatively positive outlook for stable growth in the medium term. > Expectation of normalization of growth in the medium & long term with a close eye on how the administration fixes some key infrastructure issues which would surely play a catalyst to this geography. Developed/ Earlier inhabited regions of Gurgaon should see faster recovery trends. > No clear forecast on the resolution of Gurgaonâ&#x20AC;&#x2122;s depleting water tables is going to remain a concern in the near future and may slow down deliveries of residential / commercial projects.
*Any epicenter in context of this report is a location/ micro region with a definitive boundary where all amenities of livelihood are available such as a micro township.
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About Home Makers Home Makers is the real-estate research and services arm of NNA Consultancy Services and aims at helping both end-users and investors make informed decisions pertaining to their housing/ investment requirements. Unlike the current options in the market Home Makers focuses on conducting customized research for its client keeping in line with their needs and the macro real estate environment. Adding to that Home Makers offers the option of research solutions that can be availed for large projects, investment decisions or development strategies. Home Makers ‘Regional Reports’ are an amalgamation of standard real estate and township planning data collated from in-house research and varied sources clubbed with an insight on the social capital of the region. The reports do not only provide you an insight into historic, current and future numeric trends but also a feedback from the residents of the region on the quality of life, availability of amenities and other important aspects impacting life in the region.
The Research Brief At Home Makers we believe that it is imperative to have a holistic approach to research of any kind and that scientific data mining tools should be used to collect and collate data. With this in mind Home Makers has carefully carved its approach for research in the real estate sector which effectively amalgamates both the quantitative and qualitative aspects of the industry and its assets.
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The Process Flow STEP 1. Decoding Administrative Plans Here the team adequately studies the city / state master plans in detail and decodes the relevant information such as historic population trends, projected capacity building, planned infrastructure such as roads, markets, petrol pumps, schools, colleges, commercial spaces, hospitals etc. and any other major planned development. STEP 2. Phase wise study of the region In order to understand the quality of infrastructure/ amenities available in the region the team systematically divides the region into sub parts for implementing a phased study of the whole region. Essentially this would mean that in a region has 100 sectors, ten critical sectors might be studied in the first phase of the study, another ten in the second phase and so on. This would essentially mean that post reaching the third or fourth phase of Home Maker’s study of a given region there may be a few developments that change the overall view of the region as our exposure to the region increases. STEP 3. Conducting a specific online/ on-ground research on the region Here the team goes on ground to interact with the residents of the region (specific pockets) and understand their views on the region, its quality of life, infrastructure, connectivity, easy availability of amenities, work opportunities, safety etc. It is through this study that one is able to understand the actual delivery of the plan that’s been proposed by the administration. A single phase for a region being researched on would have a sample size of 300 – 500 respondents. STEP 4. Studying the Planned Projects / Dwelling Units in the region A thorough check from both online and on-ground sources is conducted to monitor the new/upcoming residential and infrastructure projects in the region etc.
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Quality Check Mechanism STEP 5. Using Home Makers models The team is undertaking pilots and developing standard quantitative & qualitative, SMART models, for estimating price projections, social development and safety wellness trends. Each region is plotted on these indexes so that a comparative ranking process can be implemented. This enables Home Makers to have an apple to apple comparison between two regions or zones of a territory. STEP 6. Collation & Representation Finally all the above study is collated and presented in front of the audience in an easy to understand and user friendly manner for them to make their own inferences of a given region. The use of info-graphics, visuals and quantifiable data are some of the key ingredients of a Home Makers report that helps you take with you a clear picture of a region.
Undertaking such a large study can be a challenge for any organization and error percentages could also be high in case the study is not undertaken in the right manner. In order to minimize on the possibilities of errors throughout the study cycle, check mechanisms have been placed at various steps. Validating data from authorized governmental and non-governmental sources. A three level check system for all data before it is published. On-ground surveys of a region to understand the gap between planned and real development. Sample checks on price trends and inventory levels from regional brokers and consultants. Sample check on questionnaires filled by residents by making direct calls. Use of standard models and correlation studies to evaluate financial data. The above steps are some of the many checks that have been placed for the accuracy of the information being provided.
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Glossary Parameters
Sources
Average Distances between two locations
Google Maps
Historical Price Trends
www.magicbricks.com, www.99acres.com have been referred for both new bookings and resale cases.
Current Price Trends
www.magicbricks.com, www.allcheckdeals.com have been referred for new booking rates and sample checked for prevailing prices on ground.
Existing and Estimated Population Trends
Census of India 2011, Delhi NCR MPD 2021- Zonal Master Plans.
No. of Metro Stations, Sub Stations
Delhi Metro Rail Corporation (DMRC) data, on ground visits and google maps.
No. of Metro Stations planned after Phase 3 DMRC phase 3 & Rapid Metro plans. Hospitals
On ground visits and google maps.
Fire Stations
Delhi NCR MPD 2021- Zonal Master Plans, google maps and on ground visits.
Malls
On ground visits, Expedia; Ixigo and google maps.
Prominent Marketplace
On ground visits, google maps.
Police Stations
Delhi Government for New Delhi police data, State Government data for police and google maps.
Avg Water Table
NCR Planning Board-Water report (Regional Plan 2021), Jamia Millia Ground Water Report released in 2013.
Crime Rate
Government records for Crime in India 2012.
No. of Hotels
On ground visits, Expedia, Cleartrip and google maps data.
Cinemas
On ground visits and google maps.
Avg Air Pollution
Haryana State Pollution Control Board, July-2014 data-Continuous Ambient Air Quality Monitoring Report (PM10 levels have been referred to).
Sports Complex
On ground visits and google maps.
Proposed area used for commercial spaces MPD 2021 Zonal Master Plans, Gurgaon 2031 plan and NCR Master Plans.
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Parameters
Sources
Prominent Flyovers
On ground visits, google maps and report â&#x20AC;&#x201C; Skyscrapers in the city.
No. of Schools
Directorate Of Education and Central Board for Secondary Education data.
No. of Colleges
Government Data, on-ground visits and google maps.
No. of Creches
Google maps.
Distances & Connectivity
Sample Survey of Home Makers.
Quality of Basic Amenities
Sample Survey of Home Makers.
Sense of safety & wellness
Sample Survey of Home Makers.
The following tools and models have been utilized while preparing the inferences shared in this report Indexes
Coverage
ROI Index
Industrial IIP numbers, VIX, SENSEX trends, State GDP, Inflation, REPO rates, Gold rates etc. have been considered while formulating the index.
Happiness Quotient
Sample Survey of Home Makers, Infrastructure development numbers, proximity and quality of amenities have been considered
Safety & Wellness
Sample survey of Home Makers, government data and weighted average across these parameters have been considered.
Proximity Index
On ground research, google maps for connectivity and weighted average of these parameters have been considered.
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The Report This is a periodic report prepared for the first half of the year 2014 specifically for the region of Gurgaon (district). Readers should use the information in this report for guidance purposes only and should conduct their own study before taking a decision in regards to this market. NNA Consultancy Services does not take responsibility of the accuracy of the data in the report and that which has been collated from third party sources.
Disclaimers The market data and information contained herein (â&#x20AC;&#x153;Informationâ&#x20AC;?) is the product or service of multiple parties that may or may not be affiliated to NNA Consultancy Services Pvt. Ltd. (NCS). None of the Information represents the opinion of, counsel from, recommendation or endorsement by NCS, or its Affiliates, Officers, Employees or Agents. The properties/projects that are indicated/ mentioned herein above have been selected randomly for the purpose of this report only and that such mention/indication of the same does not, in anyway whatsoever indicate any preference or promotion by NCS of the same. NCS does not intend to suggest or promote any specific area, builder, developer or construction company that may have been mentioned / indicated in this report. You may not use the Information for any unlawful purpose or any purpose not expressly permitted hereby. Reproduction of the Information in any form is prohibited. Users are requested to use the Information at their sole risk. NCS or its Affiliates, Officers, Employees or Agents shall not be liable and expressly disclaim liability for any error or omission in the content of the Information, or for any actions taken by any one directly or indirectly, in reliance thereon. The Information is not guaranteed to be error-free, or to be relied upon for investment purposes, and NCS or its Affiliates, Officers, Employees or Agents make no representation or warranty as to the accuracy, truth, adequacy, timeliness or completeness, fitness for purpose, title, non infringement of third party rights or continued availability of the Information.
No Warranty In no event shall NCS or its Affiliates, officers, employees or agents be liable for loss or damage of any kind whatsoever (including, without limitation, any special, consequential, incidental or indirect damages, or damages for loss of profits, business interruption, and any and all forms of loss or damage) to any one under any circumstances. All queries can be directed towards Divyanshu Nagpal Director, NNA Consultancy Services Pvt. Ltd M: +91 - 9818300327 E: divyanshunagpal@nnaindia.com
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