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India's Exploding Real Estate Market: Shades of the Florida Condo Bubble [View article]
The last I remember was starting from 1996 and then the market recovered only in 2003.
The price of real-estate fell by 20-40% depending on the area - but it could not be measured as almost all the transaction used to be done in cash in India (registered amount used to be very small), and no paper records could track the market price.