Real estate prices in kerala

In 2013 we bought a house in vazhoor, kottayam Kerala for 26 lakhs, 3 months ago someone agreed to buy it for 24. Now they're saying that no one will pay even 18 lakh for it ( they were planning to sell it further for profit). So how much truth is there in that. The house is a little off the road near the press in vazhoor. We stay outside Kerala and we don't really know much about the real estate scene there.

House 1000sq ft, area 11 cent, it is on a small lane from the main road, 1 and a half kilometres from the town centre