Realty Sector to Revive In 2013, But No Bets Yet

However, properties are not getting sold out based on the current price points. Developers have adopted a strategy of giving out freebies and incentives on home buying to attract more buyers and to increase sales, which is no more fueling the sale process at this current market scenario. Still, this year, the increase in capital values has been witnessed by residential realty market. Where, affordable property segment observed an average price rise of 10 percent compared to last year and properties under luxury-super luxury segment saw a rise of 12 percent, according to Cushman & Wakefield India’s report.

Besides, there are more numbers of cities that can emerge as investment hotspots apart from known property markets that include Delhi-NCR, Mumbai and Bangalore, said Cushman and Wakefield. The investment destinations identified by the property consultant are Bhubaneshwar, Chandigarh, Ahmedabad, Indore, Nagpur, Vadodara, Jaipur and Visakhapatnam. These emerging cities are identified in view of demographics, real estate infrastructure, demographics and the scope of economic development are among others.

Ahmedabad and Kochi are on the list due to the industrial development which in future may drive the demand for housing. Whereas, the residential property market of Chandigarh and Coimbatore may witness good returns in the coming year because of the growth of IT/ITeS sector, according to Puri.

"The growth in these cities in the next few years will be led by primary sectors like metallurgy and power, though services and manufacturing will also play a crucial role in creating a more holistic socio-economic environment, which is likely to fuel future realty demand," said Sanjay Dutt, executive managing director, Cushman & Wakefield India, reports Economic Times.