Chennai: A reality check on real estate prices in India often comes through a process known as ‘time correction’, rather than a drop in absolute prices.

Time correction refers to a situation where real estate prices remain stagnant for some years, while inflation and incomes rise, thereby resulting in improved affordability.

The unprecedented impact of covid-19 is now threatening to change this. Industry experts suggest a drastic fall in sales, which in the backdrop of the high inventory held by realtors, should also result in a drop in prices. “The present scenario of a national lockdown is unprecedented.

The global financial crisis marked a financial meltdown, but the covid-19 lockdown has a human angle to it. With uncertainty looming

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Will India’s real estate prices finally face a reality check now?

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