- The residential and commercial property markets in Delhi/NCR dipped in demand in 2015 compared to the previous year, with locations like Gurgaon and Noida witnessing a massive decline.
- The property markets in nearby states like Gujarat and Punjab still showed potential, while other North Indian locations like Noida, Faridabad, and Ghaziabad saw steady but lower demand.
- In contrast, the South Indian property markets in states like Tamil Nadu, Karnataka, and Telangana performed better and were more steadily poised than the Delhi/NCR markets.
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Delhi/NCR Real Estate Digital Outlook - 2015
1.
2. • For residential search trend, the year 2015 preformed slightly better than year 2014
• End of year 2015 was not so promising as the market dipped higher during this phase
• Collective two years’ pull was quite consistent around the year, but it’s lower than the
period of 2012 to 2013
3. • The commercial search trends also performed slightly better than the previous year
• The search trend for commercial properties dipped towards the end of the year as
compared to the last year
• Overall pull remained consistent around the year
4. • Average search per month is
around 75K
• Showed potential growth from
July to September and flattened at
the year end
Delhi
• Average search per month is
around 10K
• The year started on a positive note
but declined as time progressed.
The residential property demand
even dipped to half compared to
the previous year
Gurgaon
5. • Average search per month is 10.8K
which is almost 50% less when
compared with the last year
• Noida market remained slow
throughout the period, it started
losing its pace in the second half
and ended on a low note
Noida
• Average search per month is around
2K which is still not as significant
compared to other markets. But the
good thing is, it’s picking up
• Overall market is consistent
throughout the year and was better
poised then the previous year
Faridabad
6. • Average search per month is 5.2K
• Better perfromed than the
previous year
• This is also because there were
some affordable project launched
in the location
Ghaziabad
• Average search per month is
around 2.2K which is still not as
significant compared to other
markets but it’s picking up
• Overall market responded
consistently throughout the year
and was better poised then the
previous year
Greater Noida
7.
8. • Average search per month is
around 5.2K
• The first quarter performed better
than the same period last year but
lost its pace in the second half
• Ahmadabad accounts for 41.6% of
the overall searches followed by
Vadodara (11%), Surat (8.9%) and
Rajkot (4%)
Gujarat
• Average search per month is around
30K
• The first quarter was better poised
but then it started declining and
continued till the end of the year
• Mumbai accounts for 51% of the
overall searches followed by Pune
(16.9%), Navi Mumbai (8.3%), Pimpri-
Chinchwas (7.1%) and Thane (3.3%)
Mumbai
9. • Average search per month is around
2.9K
• Overall response was better than the
previous year and was almost
consistent
• Jalandhar accounts for 15.6% of the
overall searches followed by
Ludhiana (14.9%), Amritsar (12.4%),
Sahibzada (8.2%) and Patiala (7.3%)
Punjab
• Average search per month is around
4.5K
• The market performed better in the
first half. It flattened in the second
half and ended on low note
• Jaipur accounts for 47.1% of the
overall searches followed by Jodhpur
(9.2%), Kota (6.8%), Udaipur (5.6%)
and Ajmer (4.7%)
Rajasthan
10. • Avg. search per month is around 12K
• Market started with a positive growth
in the first half of the year, but started
declining in the second half and
reduced to half
• Gurgaon accounts for 67.3% of the
overall searches followed by
Faridabad (10.3%), Karnal (2.3%) and
Sonipat (2.1%)
Haryana
• Avg. search per month is around 20K
• UP market was throughout slow and
even become much reluctant as the
time progressed and ended on a very
low note
• Noida accounts for 39.3% followed by
Ghaziabad (18.1%), Lucknow (11.4%),
Greater Noida (7.1%) and Kanpur
(3%)
Uttar Pradesh
11. • Avg. search per month is around 1.5K
• The search trend is not that high but
was consistent throughout the year
• Dehradun accounts for 29.3% of the
overall searches followed by Haldwani
(15.3%), Roorkee (10.8%) and
Rudrapur (8%)
Uttarakhand
• Avg. search per month is around 1.5K
• The search trend is not that
significant but was consistent
throughout the year though it dipped
in the last quarter
• Patna accounts for 47.8% of the
overall searches followed by
Samastipur (0.6%) and Purnea (0.6%)
Bihar
12. • Avg. search per month is around 5.8K
• The market started on a positive note
but consolidated after first quarter. At
the year end, overall searches saw a
dip of around 20% as compared to
last year
• Kolkata accounts for 76.6% followed
by Howrah(5.4%), Silliguri (4.8%) and
Durgapur (2.7%)
West Bengal
• Avg. search per month is around 1.1K
• The search trend is not that high but
was consistent throughout the year
• Bhubaneshwar accounts for 41.5% of
the overall searches followed by
Cuttack (11.8%), Rourkela (5.4%) and
Sambalpur (2.6%)
Odisha
13. • Avg. search per month around 14K
• Overall market started on a positive
note but decreased by 60% at the end
of the year. The market still
performed better than Bihar, WB,
Odisha, Uttarakhand and Rajasthan
• Chennai accounts for 78.3% followed
by Coimbatore (6.8%) and
Tiruchirapalli (1.3%)
Tamil Nadu
• Avg. search per month around 15K
• Overall market started on a positive
note but decreased by 60% at the end
of the year. The market is still better
poised than Bihar, WB, Odisa,
Uttarakhand and Rajasthan
• Bengaluru accounts for 90% of the
overall searches followed by Mysuru
(1.8%) and Mangaluru (1.4%)
Karnataka
14. • Average search per month is around
3.5K
• Market started on a positive note but
dipped as year progressed and
became consistent in the last quarter
• Indore accounts for 26% of the overall
property searches followed by Bhopal
(19.2%), Gwalior (11.9%) and Jabalpur
(8.1%)
Madhya Pradesh
• Average search per month is around
8.5K
• There is no previous record available
for this region, but the demand for
the property market was consistent
throughout the year
• Hyderabad accounts for 78.2%
followed by Secunderabad (13.3%)
and Warangal (1%)
Telangana
15. • Overall the demand of the Residential and Commercial property
both dipped in the last financial year
• Nearby locations such as Gurgaon and Noida have witnessed a
massive dip in the overall demand curve
• Faridabad and Ghaziabad show a little hope for the market
• Nearby states like Gujarat and Punjab still holds potential to be
tapped
• Other north Indian locations didn't find the pace and remained
quite slow in demand curve
• Surprisingly, the South market looks better poised then the North
Indian market for Delhi/NCR property searches with Tamil Nadu,
Karnataka and Telangana as major push locations
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