This was a favorite place for MNCs to settle down and it was driving the property prices out here like anything but the growth has been arrested and a slump is on the rise. I am talking about none other than Gurgaon in India which saw a number of inetrnational call centers set up their shops. The slump in this area is being attributed to the integrated master plan for Gurgoan and Manesar. Gurgoan is now far away from the property boom. This is for the first time that this area is witnessing a downslide in property prices.

A number of people are opting out of under construction and high end residential market with a downslide as high as ten percent being witnessed. With around 33,726 hectares included under the new master plan, a number of areas have been added which has resulted in an oversupply of land. With stagnation settling in the downslide is expected to increase further and the property horse will have to rest for a while before it again joins the boom race.

Via rediff