Gold Coast Residential: Mumbai IndiaThe residential transaction level has moved down considerably in various markets. It has resulted in price reductions in a lot of the Tier 1 markets. This is mainly due to residential capital values in some Tier 1 markets have shown negative growth in the last quarter. We’ve been tracking capital values in the Tier 1’s in Bangalore, Mumbai, Chennai, Hyderabad, and Delhi NCR and the overall result is a reduction in price or no increase. We believe India is in a short term residential real estate market correction and to look for real estate related stocks as an indicator for a change to the positive.
