India, July 11 -- For nearly two decades, China's property market was the engine of its economic growth and the cornerstone of household wealth. Homes were bought not just as places to live but also as investments, with real estate accounting for an estimated 70% of household assets. Then, a mix of debt-laden developers, unfinished housing projects, falling home prices, slowing population growth, weakening consumer confidence and an economic slowdown triggered a prolonged property crisis, wiping out trillions of dollars in wealth and shattering homebuyers' faith in what was once considered the country's safest investment.

This has sparked a crucial question for India. Could the country face a similar reckoning, especially in investor-hea...