India, May 9 -- If the India-Pak tensions persist,residential real estate market sales in Delhi-NCR and other parts of north India may witness a short-term dip of between 5-10%, particularly in the luxury segment, as buyers adopt a wait-and-watch approach. However, mid-income housing is expected to recover first once stability returns, an analysis by Anarock has shown.

With regard to housing capital values, the analysis noted that it does not foresee any significant drop "unless hostilities stretch longer than one fiscal year."

"Today's market is dominated by large, listed and financially robust developers who do not carry excessive leverage. This gives them prolonged 'holding power', and the major banks also are well-capitalised. There...