India's Most Expensive Real Estate Deals in 2012

India's Most Expensive Real Estate Deals in 2012

National Textile mills land

Price: 2,725 crore (Rs 27.25 billion)
Buyer: Lodha Group
City: Mumbai
India rank: 1




 

Thane plot 

Price: 1,250 crore (Rs 12.50 billion)
Buyer: Agile Real Estate
City: Thane
India rank: 2

Commercial space


Price: 1,000 crore (Rs 10 billion)
Buyer: Blackstone
City: Bangalore
India rank: 3

Maheshwari bungalow

Price: 200 crore (Rs 2 billion)
Buyer: Sajjan Jindal
City: Mumbai
India rank: 4

Chanakyapuri plot

Price: 111 crore (Rs 1.11 billion)
Buyer: Sudhir and Samir Mehta
City: New Delhi
India rank: 5

Indian Real Estate Market Forecast in 2013

According to real estate expert the real estate market will improve moderately in 2013.The property prices have breached affordability limits in cities like Mumbai. However, real estate developers will have to factor in the ground realities of the business while discussing the lowering of prices to catalyze sales in 2013. Builders are already overwhelmed with the increased rates of construction cost and cost of license.

It has been found in year 2012 that residential properties are not selling at current price point. But in 2013 the only way to catalyze healthier sales is offering buyers tangible financial relief. The cities of India will see an increase in residential launches in 2013. In 2012 the southern cities of Bangalore and Chennai had recorded historical high in terms of the number of launches during 2012.

To attract property investors, developer will also offer attractive benefit on pre launch property investment. While developers with large scale real estate projects will be under greater pressure to offer discounts than smaller projects.

In past three years Pune has recorded an average of close to 6000 units per quarter. As a real estate market in pune has grown too fast in short time, so the launches in Pune will be moderate in the near term.

Commercial Real Estate in India witnesses increase in demand

Commercial real estate industry in India

that includes office spaces and retail have started experiencing increase demand after big economic slowdown in past few days.In major cities of india  near about 9.2 million sq. ft of commercial space was sold at the end of June 2012. Ravi Ahuja, executive director for development services at consultants Cushman and Wakefield India said that the sale of commercial property was 5.8 million sq. ft in April-June 2009.

It is accepted that Some 16.4 million sq. ft of retail space is expected to be available in 2010.Saleing and leasing of commercial office spaces Mumbai and Delhi-NCR rose 69% and 18%, respectively. The past report says that about 70% of transactions in Delhi-NCR have been recorded in Gurgaon, Noida and Delhi’s south business district. In Noida large multinational corporation firms from banking and IT sector are attracted to set up offices. In Mumbai, most commercial real estate projects are coming up in secondary areas.

Multinational corporation firms are looking for central locations in big metro cities this may be reason for rise in rental cost in these areas. The improved economic climate within the country making attractive market over globe.