While the prime focus of real estate companies in 2013 will be residential, they will keenly watch the retail space for opportunities arising out of FDI being allowed in the sector.
A total of 160,622 residential units were launched in 2012, a modest 3.83 cent growth from the previous year's 154,701 units. The National Capital Region (NCR), comprising about 60 per cent of the new launches was 22 per cent lower than the previous year. If 2012 was more about execution and consolidation, a spree of launches are likely in 2013, according to industry observers.
Take DLF, India's largest real estate company. The realty major's target is to launch projects measuring 8.5 million sq ft in Gurgaon by March 2013. DLF had recently launched a 1.2-million sq ft project 'the Skycourt' in New Gurgaon.
More announcements could be expected from the company, as it is in the process of selling non-core assets to focus on its core business. In line with this strategy, DLF had sold its luxury hotel chain, Aman Resorts, in the third week of December.
Other developers, too, have launches up their sleeve. They are waiting for the liquidity situation to improve and interest rates to reduce.
Companies in the sector are pinning their hope on the Reserve Bank of India (RBI), which has hinted it would start cutting rates from January.