What is in Store for India's Realty Market in 2013?

"The silver lining for all those who missed the boat, both developers and consumers, is that 2013 will start a fresh innings. In a country that has an acute housing shortage there will always be takers provided the offerings are enticing," said Rohan D’Silva, the National Director of Knight Frank India, reports Economic Times.

For commercial real estate, some of the most promising location in India include Gurgaon and Noida, which is likely to maintain its growth and may witness over 85 percent of office space transaction in the coming year. Whereas, Mumbai’s commercial complex that include Bandra Kurla Complex will observe the emergence of top multinationals and Nariman Point will observe less demand and lower rental values.

“With business sentiments getting improved, the downward trend will change in FY14 and each quarter will see a 9-10 million of absorption, with overall absorption likely to surpass 40 million in FY14,” said Balbirsingh Khalsa, National Director, Office Industrial Agency, Knight Frank India, reports Live Mint.

In Southern places like Hyderabad and Bangalore, the demand for office space might take-up, whereas in secondary business districts and peripheral business districts of Chennai will see over 70 percent share in the market.

Also Read: What Do Home Buyers Prefer In Real Estate?