Property-seekers might think Delhi-NCR has the maximum appreciation potential within a year’s time. However, according to the latest property index, it’s the Mumbai real estate market which beat all Indian cities in terms of price escalation over a period of 12 months. Mumbai has bucked the economic slowdown by witnessing a whopping 24.7 per cent jump in prices between January and December 2009. During the same period, realty rates in Delhi-NCR rose by 8.8 per cent.

But other emerging residential destinations such as Hyderabad and Bangalore have witnessed a fall of 7.7 and 2.2 per cent, respectively, the index added. However, Pune market gained significantly by 9.9 per cent. The survey revealed that all these five cities — Delhi-NCR, Mumbai, Pune, Hyderabad and Bangalore witnessed a drop in property prices in the first six months January to June due to slump in the market. But the subsequent gain came following the launch of various affordable units. These units have now achieved premium value across India.

The study said property prices increased by another 12.8 per cent nation-wide during the surveyed period of 12 months. The primary reason for the price rise in Mumbai’s market could be attributed to expansion of the peripheral areas.

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Bandra, especially Bandra West, is a popular residential destination since it holds high lifestyle value, despite the fact that it faces a significant degree of traffic congestion. The upmarket location of Khar is, in many ways similar to Bandra in terms of lifestyle - a Khar address is a sought-after social calling card.

Juhu is a sea-front area with its own distinct ambience and charm. Moreover, it is exceedingly well supplied in terms of places to hang out and be seen at, further aided by the availability of high-scale entertainment facilities. Also, Juhu is close to the airport, and it has good health and educational establishments. Historically, its occupier profile has been distinctly up-market - this gives a Juhu address definite snob value.

Andheri scores high in connectivity and people who work in the many offices in this locality prefer to live in Andheri despite the serious traffic issues this area faces. Santa Cruz is a relatively quiet suburb where demand is always assured because of its proximity to the airport and the Bandra Kurla Complex. Vile Parle, which lies between Juhu and Andheri, benefits from both these areas in terms of lifestyle quotient.

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Bangalore: Real estate developer Prestige Group has lined up launches for the next two quarters, for which the company plans to invest over Rs 7,000 crore spread over three-four years.

Launching the high-end luxury residential project, Prestige White Meadows, at Whitefield, Bangalore, Mr Irfan Razack, Chairman and Managing Director, Prestige Group, said that the company has several projects in the residential, commercial and retail segments to be launched in the next two quarters. The company plans to fund these projects through a combination of internal accruals, bank debt and the IPO proceeds.

On when the company plans to go public, Mr Razack said that they were waiting for regulatory approvals. “The IPO gives us more liquidity to expand.” The company plans an investment of over Rs 2,000 crore across eight projects in the residential segment, out of which four are high-end luxury ones. A few would be in the affordable segment — Rs 12 lakh to Rs 25 lakh price range, he added.

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