An increasing number of non-resident as well as local middle-class parents now prefer to gift (often a euphemism for dowry) a flat or house for their daughter's wedding rather than lavish her, as was the case till quite recently, with gold. Instead of 1.5kg to 2kg gold ornaments, parents give a lesser quantity of gold along with a flat or house to their daughter. 

"The demand for gold is dwindling because in marriages most parents wish to offer a flat or house as a gift," said Joy Alukkas, MD and chairman of Joyalukkas Group which has launched an upmarket real estate project in Kochi. Read More..