What's In Store for Indian Real Estate in 2013?

Mumbai

In 2013, Mumbai will witness healthy demand for housing as well as office space. Less chance for price correction in Mumbai but the city is expected to get new residential launches this year. The financial capital is one among the largest traditional real estate market in India. In Mumbai, places like Wadala and Chembur are emerging as the most promising investment destination. These places are witnessing maximum growth in real estate movement because of close proximity to premium office space markets, strategic location and proposed infrastructure projects like Eastern Freeway project and Monorail. It is expected that the upcoming projects will increase the housing demand in these places in the near future.

Bangalore

When it comes to office space, Outer Ring Road will remain the most preferred localities for office space in 2013. "Meanwhile, Whitefield will continue to retain its sheen for both office and residential real estate because of affordability, proximity to key work places and good social infrastructure," said Ashutosh Limaye - Head - Research & Real Estate Intelligence Service, Jones Lang LaSalle India, reports Economic Times.