Premium flats at south Mumbai and swap deals continue to buck the general trend of prices moving southwards. Premium residential space in Malabar Hill was transacted between Rs 14,280 to Rs 15,773, and Worli at Rs 16,000.

While foreign banks are planning to rationalise real estate holdings, Indian banks are continuing to accumulate property at high costs. StanChart and Citibank have set the ball rolling by selling part of their real estate holdings as technology is contracting the need to have huge realty assets.

Tata Tea heads the list of corporates which helped foreign banks rationalise their properties in July by purchasing half the fourth floor premises of StanChart measuring 2,685 square feet at New Excelsior building in Fort in Mumbai at aconsideration of Rs 2.60 crore.

After relocating its headquarters to Bandra-Kurla complex in the western suburb of Mumbai, Citibank has been selling off its premium flats in south Mumbai and relocating its executives in the suburbs. Also in July, the bank sold one flat measuring 2,685 square feet at Maker Towers in south Mumbai's Cuffe Parade for Rs 2.55 crore.

Indian banks have been continuing with the trend of entering into compromise settlements with borrowers and squaring off debts by buying real estate from sticky borrowers. In fact, the largest realty purchases in July were by Vijaya Bank and Canara Bank. Vijaya bank has acquired property valued at Rs 16.84 crore at Maker Chambers in Nariman Point from Maker Development Services. Canara Bank was the next highest investor at Rs 11.56 crore squaring off a debt with Marathon Realty.