"For real estate fundamentals are pretty poor, high debt, high leverage, refunding will be difficult, promoter shares pledged already margin calls, and so there is a lot of stretch there on the offtake of their product.(Watch Video)
All the four verticals are weak residential, retail, hospitality and office commercial space and are expected to weaken further.
So overall there is no demand coming up in terms of new offices or new residential demand, everything is subdued.
I would say a real estate would remain a negative on a fundamental sense," Bagga told CNBC-TV18