Beginning 2005, good times prevailed in the real estate sector in India with the market peaking in 2007. The Indian real estate story, however, experienced a revision in 2008, with the recession slowly making its mark on the market. The revised market dynamic brought with it scope for speculation, a questioning of fundamentals and a bouquet of uncertainties for investment and development decisions.

The experience of the past year has apparently made it clear that there is an inherent need to understand cities as complete entities. The real estate dynamics within a city are determined by the socio-economic and infrastructure development of the city.