what ever may be the status of real estate across world.. its on rampage in india..
with growing land mafia and the steep increase in land price daily.. the real estate is hardly going to see and down fall in india!!

No, its not. The property prices were very high due to the demand which in turn was fueled by the excess savings of individuals due to the economic boom and liquidity in the market. However, with the Gobal market meltdown and rising inflation, Developers may find it hard to find buyers and the Real estate prices would come down accross the country due to reduced demand.

Just as the share markets have collapsed, the property market is headed for a correction, maybe 15-20% fall in prices, as compared to the prices in June-July 2008. So people should adopt a wait and watch policy and neither buy nor sell their properties for a couple of months to be on the safer side.

However, we can get a good indication of the market from the sales in the coming Dipavali festival when most developers do the bhoomi pujan and people buy assets on the auspicious occasion.