The passage of two crucial bills, Real Estate Regulation Bill and Land Acquisition Bill, in particular, sometime in the next few quarters this year will boost the sentiment of all stakeholders and herald a new order in the country's Real Estate , Pranab Datta, chairman of Knight Frank India, says. 

The recent approval of FDI in multi-brand retail by Parliament will attract foreign investment , which will not only benefit the retail industry but also boost the demand for commercial real estate. It also showcases the government's seriousness in introducing reforms in India — and this is just a preview of things to come, Datta says. 

Additionally, the RBI can be expected to lower interest rates in the coming months which will benefit developers as well as consumers. The change in sentiment on account of the above measures will have a positive impact on all the segments of real estate — whether it is retail, office or residential and will certainly make 2013 a much better year in comparison to last year. 

Against this, 2012 has been disappointing for real estate as falling sales and rising construction costs dampened the market sentiment. This is reflected in the financial performance of real estate companies, which have taken a hit in their revenues and profit during the year. 

Jones Lang LaSalle (JLL) in its report also said that the outlook for the real estate sector in the New Year looks promising in the NCR. However, all the stakeholders like consultants and developers feel that those areas where the prices have not peaked and world-class infrastructure like roads, parks sports complexes are being developed by the authorities concerned and developers will see the maximum appreciation. 

Om Ahuja, the CEO of Residential Services of JLL, says that the supply trends in real estate indicate that it is in a state of flux. The supply of products priced below Rs 3,000 per sq ft is reducing markedly. From 43% in the fourth quarter of 2009, supply in this segment will come down to 8% in the same period of 2013. At the same time, supply in the price range of Rs 5,000-10 ,000 per sq ft is expanding. He said aspirational and affordability levels are driving such trends. 

However, smart residential property investors will identify the right products priced below Rs 4,000 per sq ft in key growth cities as best options. In cities like Bangalore, Hyderabad, Chennai, Pune, Noida and Gurgaon, one can still find good projects in this price range for long-term investments, which would yield good appreciation . 

JLL in its report on the NCR region says that areas like Dwarka Expressway, New Gurgaon-Manesar , Noida Extension and Noida Expressway show huge potential for investors as well as end users. It says that Dwarka Expressway, because of its infrastructural advantages and locational benefits, enjoys huge upside. 

The area has been able to successfully withstand the heat that many other areas and pockets of the NCR faced. The price sustainability and appreciation trends of the recent past, and also its relative affordability, will continue to maintain investor interest and confidence . Other important areas to watch out for in 2013 for residential realty, the report says, will be New Gurgaon and Manesar. 

The increase in commercial developments, its developing infrastructure, continuing affordability and the proposed connectivity via Metro and the expressway will put this region on the radar in 2013.