Is it right time to buy property?

Categorize it.

Is it a need?	Is it a want?
If you need it for self-use and if you can afford, just buy it. When? There is nothing called "right time" for you.	If you need it for investment aka passive income, check if your investment in "real estate" as an asset class does not exceed 25% of your net worth. When? Buy during pre-launch.
If you made enough money in other asset class, then diversify the excess money into real estate.	Do you really want to invest in residential for yield of 2.5-3% or commercial 4-5%?
Do you need it right now or can book during pre-launch and wait for 4-5 years? Remember, the purchasing power will remain same (ready-to-move) or pre-launch (you continue to pay existing rent, plus, pre-EMI)	You borrow (home loan) at 7-8% to get rental yield of 3%? How much appreciation do you expect? Add capital gains tax and you realize it is "zero sum game".
Location: Are you creating a legacy for next 10 generations? Just buy near your office or your partner office or kid' school. Your need is temporary until one of you change the employer. You kid will travel to a college far off once after 10-12 years.	Location: Buy in the upcoming areas, near malls, school district, tech parks, industrial estates. Does it really matter when 140 crore population grows at certain % YoY? Cities will expand and new areas will come up.
Builder: Always go for reputed Tier A builder	Builder: Some Tier 2,3 builder properties near prime areas fetch more yield than tier 1.
Vastu: Kitchen in south-east and Master Bedroom in south-west. If you are spending 1cr on property, please spare 10k for Vastu Expert	Vastu: Apartment can never be 100% Vastu compliant. Buy a decent, well-ventilated unit.
Floor: According to your personal choice	Floor: Mid-to-higher floor
Unit size: Only Buy what you need. Remember the maintenance cost is fixed outgo.	Unit size: Remember, 3-bhk is highly liquid than 4bhk. Or 2400sqft plot can be easily sold than 4000sqft.
When can I sell? When your family needs grow, office/college location changes.	When can I sell? When your "real estate" portfolio crosses 25% of net worth, you may diversify by selling some apartments. You will get optimum returns within first 2 years of project completion.
When not to sell? Your property is in prime area and you could fetch decent rent	When not to sell? Your property is in prime area or new metro station, or new big commercial establishments are announced in your area. With the population growth, your resale value or rent will always increase, but it may not be optimum (time value of money). Always calculate if you wait for "X" months more, what % more you will get. If the next asset class can beat it, you have the answer.