It is a segmentation fault. Also does it come under run time memory error ?
Strictly speaking, its an undefined behavior. You may or may not get segmentation fault. Any thing could happen.
Declaring
char *str = "hellow Ghost";
is equivalent to
char const *str = "hellow Ghost";
String literals are stored in read-only section and any attempt to modify it invokes UB.
C11: J.2 Undefined behavior:
The behavior is undefined in the following circumstances:
...
— The program attempts to modify a string literal (6.4.5).