India's Luxury Home Market Cools as Unsold Stock Builds

Wealthy Indian buyers are stepping back from luxury homes priced above 10 million rupees—roughly 40 times the national average income. Property experts now expect unsold inventory to pile up or stay high, even as prices hold steady. The pattern echoes China's 2021 downturn: prices stayed firm while sales dried up, then sudden repricing hit. Investors in Indian developers should watch whether this inventory glut catches up to headline numbers.