Property values are function of incomes. When incomes do not rise, it is hard to see how property values can rise. Part of India's surge in property prices can be attributed to rise in incomes which in turn was tied to growth of Indian economy. One thing I can guarantee is that average Modi's GDP growth rate will be below UPA's average of 6% growth over 10 years. So, incomes are not going to grow as fast as they did in the last decade. So, property prices will also show modest growth. Stocks will show good growth in part because companies can cut cost even if economy is showing modest growth. With cost cutting, the incomes will not rise as fast as they did in the past and unemployment will increase.
India still remains a closed market economy. Current PM protected manufacturing sector and even now he wants everything built at home. India does not have high degree of specialization to manufacture things at low cost. If you cannot sell Indian products outside India, India does not prosper. Part of prosperity of India over the last decade was due to selling software products and services outside India. IT advantages are short lived and India will feel the pressure of competition (even from China as it is starting to specialize in software and building its own operating system to compete with Windows).
There is only one way to grow economy-- competition and innovation. Those who compete and innovate always get higher salary and have higher standard of living. To innovate and compete in today's world, you need advanced education and a lot of hard work. The rules are pretty straight forward, but no one will acknowledge them as it is better to speak of nationalism and keep your job. Voices of nationalism sound good and most of the Indians are too naive to understand the big picture and trust too much on their politicians. No one person can make India successful, entire country has to change. For me the 2000-2010 period was an aberration, both in terms of income growth and property value growth.