A Bad Turn for Housing

india's real estate market has been faltering for quite some time as the country's economy remains under stress. According to data from various sources, property prices have seen a correction recently. But, is the real estate market headed for a crash, an event that many prospective buyers have been waiting for?

In the April-June quarter, house prices fell in 22 out of 26 cities tracked by the National Housing Bank's Residex (residential index) compared with the January-March quarter. It is only the short-term scenario. Despite adverse conditions, property prices in most cities have been holding ground for a long time now. For instance, over one- and two-year periods, the index shows a sharp rise in property prices in Delhi, Mumbai and Bangalore.

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