Residential real estate sales across India is expected to decline 20-25% in the current year as prospective homebuyers are likely to defer their purchases owing to the Covid19 led economic sentiments and job security concerns. The resultant pressure on developers to sell may trigger a 5-10% price reduction across segments, said property consultant Cushman & Wakefield. These discounts could be in the form of minimal booking amount that is fully refundable with no cancellation or various subventions, financial and price protection offers. Established players in premium and luxury housing segments may hold on to price levels though lenders and sales pressure could trigger a 15-20% discount of previous price quotes. Residential launches are also expected to witness a 40-50% dip this year. Cushman expects housing sales to increase 15-20% next year though.