Prospective home buyers should prioritize affordability over fear of missing out, as current real estate prices are excessively high, with a 30% correction needed for sustainability.
India's 5-year property boom may end with 15-20% price drop due to increased housing supply, rising borrowing costs, and market rout.
RBI's interest rate hike may further slump real estate demand, leading to 5-15% price correction and delayed projects.
Real Estate Market to Witness 15-20% Price Correction Post-Monsoon
Demand for one-bedroom flats in Delhi-NCR outstrips supply as builders favor larger, more expensive units, impacting affordability for many.
Land deals in prime metro city locations see decreasing prices, with Parsvnath's recent Connaught Place acquisition marking a 17% discount per acre compared to last year's rates.
India's luxury real estate market faces challenges due to dwindling demand from domestic buyers and cautious non-resident Indians (NRIs) anticipating a market correction.