Dear Moorthy,
I agree with your observations but that sounds to be more like wishful thinking. Going deeper into the situation, have you been able to notice that lot of builders who are afraid of demand slowing down are holding up their flats and not selling them to maintain the demand-supply ratio.
Obviously, they have their bills to pay and can't live with the empty flats for long. So they rent it out and earn good rental income while steadily selling the flats to people who in their view are not "bargain hunters".
The salaries are in IT and other companies are good enough to rent the flat if they can't buy it.
Anayways, it is interesting to wait and watch the market...
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