Hyderabad Real Estate Speed Up even if COVID-19 Impacts
Hyderabad Real Estate Speed Up even if COVID-19 Impacts
Hyderabad Realty at high speed
Invisible Corona impact on buyers
The COVID-19 crisis that is shaking the country. Hyderabad has not touched reality. Despite the economic conditions of all classes of the pandemic, the strong expectations of the urban construction sector have not alienated buyers. This does not mean that the hardening of the apartments is not great. Interestingly, buyers view the corona virus as a temporary problem. Market experts predict that the real estate sector will return to normal after a while.
Corona does not upset those who buy houses in the city's gated communities, skyscrapers and luxury villas. This means that a large percentage of people buy a home in Hyderabad rather than investing. As a result, no one clears the fats purchased before the crown is lifted. These are the people who lost their jobs. Construction companies say that those who cancel apartments for fear of the crown do not exceed 2-3%. The market is looking forward to this March 22nd. It is returning to the same level. MD Reddy said none of our plans have been canceled.
Surprisingly, many Hyderabad real estate companies have sold apartments and villas online by watching videos of projects in this disaster. In Kandlakoya, in the Medchal area, we are carrying out geothermal and pranayama projects. In April and May, during the crown crisis, we sold around fifteen houses. Saket's director of engineers, Gollapudi Ravikumar, said it was a significant evolution for new arrivals who have seen plans in the past. On the other hand, have prices gone down after the freeze? Or not? Home buyers know this. Market rates say there is a price to buy. Construction experts believe that this could lead to higher sales if the developers reduce the prices too much.
Loss of lakh of crores
According to the latest poll, KPMJ estimated that India's real sector is likely to lose Rs. Nearly 4 lakh homes were sold in seven cities in the country last fiscal year and this year is expected to be around 3 lakhs. However, experts say the situation in Hyderabad is different.
The construction sector must be supported
CREDAI open letter to PM Modi
CREDAI called on the central government to take immediate action to dilute the real estate sector from the Kovid-19 crisis. Prime Minister Modi wrote an open letter to Prime Minister Modi asking for a reduction in the interest rate on real estate loans, as well as tax concessions to increase demand and liquidity in the real estate sector. Immediate intervention required. It also urged banks, non-bank financial institutions and housing finance companies to lend at least another 20% of their existing real estate projects at no additional cost. Penalty interest rates imposed by banks and other financial institutions have been canceled for at least a year or so until the end of the crown crisis.
Interest on real estate loans should be reduced
CREDAI suggested reducing the maximum interest rate on loans for new housing to 5% in order to increase demand in the real estate sector again. CREDAI asked home buyers to increase loan and interest grants and to make the grant scheme available again.
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Quick Real Estate Market Recovery Forecasts Post COVID-19
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