"Real estate is a requirement for most people and therefore there is a long term demand for it. Now that said obviously it is a highly cyclical industry and like any other asset as prices go up suddenly people discover that you know they are losing out and they suddenly jump in and buy the stuff. In places like Bangalore and even Gurgaon, for the longest time there was hardly any demand and now prices have started to move up as there is not enough supply in the market."