Hi Amit 001,
I dont think Gurgaon prices will correct. These prices are here to stay. They may go up or stay same, but will not come down.
I think they will stay same, but that is a guess. If stocks outperform like this, RE will bubble up like anything.
If I had 100Rs in cash, TODAY, I would
1. Put 30% in bonds
2. 30% in stocks
3. 5% in gold etf
4. 20% in plots in Faridabad
5. 15 % in commercial RE in NOIDA (like JMD or JP, provided I had some 3-4 Crores and could go for commercial with ticket size of some 50L. Otherwise put 15% in liquid funds and wait for opportunity - probably a flat booking in 2012 or 2013, when global and local scenario is clear
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