How good is indian real estate right now?

It is looking good infact very good especially after a reduction in home loan rates but thats the catch ……

indian real estate is just  about to crash, especially if US goes in recession nothing can stop other developing economies to follow….,every body has seen what has happened to recent IPO’s in India it reflects that there is not enough money in market which means there will also be decline in the demand for property..
The only area where prices may go up are mumbai ,delhi ,pune,banglore and noida