A lot of people are trying to link falling realty prices across the world specially in US to India. Its really apples to Oranges.
Real estate prices never go down in India and never will. The reason is we dont look at realty as a financial instrument with all other available investment options. Also we are more emotional with it. Demands has been always high and supply low and seller knows that wait and watch pays.
Prices will stagnate at the most before climbing up steadily again but the kind of correction we see in US market is something which is never going to happen in India.
How much long will stagnate and with what rate they will climb back will depend on the location you are in and it differs widely. For Individual sellers its wait and watch time and for builders its time to throw in some freebies to attract crowd.
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