Palam Vihar pricing: pure hype, no real value.

Palam Vihar's price surge is making no sense to me, even after being in real estate for years. I know what builders don't tell you, but this is different. Last 1-2 saal mein rates bohot upar gaye hain. Is this real appreciation, ya just current market sentiment? I'm looking for a 2BHK, around ₹1.2 Cr. Should I buy now, ya thoda wait karna chahiye? What's the genuine ground reality for Palam Vihar? Your honest opinions, please.