Also, the great indian growth story is going to slow down a little now.. recession has shown everyone their true value.. 3 years ago you would kill to be an investment banker.. now you will kill yourself if you are an investment banker.. i have friends from many big MBA collages waiting for huge salary packages from morgan stanley and Bank of america.. most of them now work at the current market salary in good Indian companies ...
Real estate cannot escape this trend.. i dont think we will see a 30% correction again coz its happened in many places.. but I dont expect to see Kharadi or PS selling at inflated sqft prices in the next five years at least..
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