Last year, home prices in Gurgaon fell by up to 25%, but this did little to stimulate demand, according to property advisor JLL. Gurgaon, a key real estate market in the National Capital Region, faced significant challenges.
Ashwinder Raj Singh, the CEO of Residential Services at JLL India, noted in a report that Gurgaon wasn't immune to the downturn affecting the country's real estate sector. Sales dropped, new offerings decreased, prices went down, and the overall sentiment in 2015 was negatively affected.
JLL stated that the past few years weren't favorable for Gurgaon's real estate market. The main reason for this scenario is the economy slowing down while prices remain high.
