Recently I was in Gurgaon and sign of a property bubble are everywhere. Everybody is a realtor.
Shopping complexes are full of realtor boards. Everybody has setup a little shop, proclaiming themselves to be a realtor. Prices have skyrocketed to the absurd leves. Most people
have bought the real estate for investing purposes. Whoever had little money in Delhi, they have bought some property in Delhi NCR for investing purposes. It has raised property prices to absurd levels. Gurgaon has dusty roads and a polluted atmosphere but property prices are same level as US cities.

It looks to me we are in huge bubble at these levels, what do you think ?

-Praveen