This resulted in a Rs 22,600 crore revenue loss to the builders, according to Knight Frank
Flats priced Rs 5-10 crore are considered premium in Mumbai and those above Rs 10 crore luxury
Market will recover in 3-4 years when supply starts stagnating and if there's a significant reduction in interest rates on home loans
Observers, however, say this is only for some segments
Developers bet big on affordable segment to boost sluggish sales
According to Real Estate Sentiment Index, 41% of respondents believe home sales to go up in six months as compared to 15% in Q1 of 2015
Sales fell across the country, including a 17.1 per cent plunge in the US Northeast