Hyderabad’s Real Estate Remained Buoyant After the Pandemic

Hyderabad’s Real Estate Remained Buoyant After the Pandemic

Buoyant Real Estate of hyderabad

‘Life doesn’t get easier or more forgiving; we get stronger and more resilient’. Clear-sightedness, persistence and transcendence can be excellent antidotes for life when it has come to a halt. One such instance is the pandemic period where life has taken a stop. 

V Shaped Recovery

Every problem is a gift, without problems we would not grow. One such grave problem was the corona virus which has affected and shattered the lives and businesses. Real Estate was also affected badly as all the construction had come to a halt. The developers had to face drastic situations. After a period of pause, Hyderabad real estate bounced back and is now showing positive impact. The buoyant real estate of Hyderabad is showing a V-shaped recovery. 

Souvenir from the Government   

The government had been wise enough to drop the plan of increasing the stamp duty and registration charges. The government also decided to develop Hyderabad’s Urban Agglomeration Area in the next five years.  

In addition, the state government provided a cushion of relief by issuing orders to extend validity of approvals. It also permitted to pay the development and other related charges of real estate projects in instalments. Though the real estate of other states saw a dip, Hyderabad real estate remained buoyant despite of the countrywide economic slowdown. 

Smart Stake holders

‘Enthusiasm is common, endurance is rare’. The developers or the stake holders had to play smart to keep themselves afloat against the waves. Endurance was at its maximum. They planned to introduce some positive measures over a period to boost the demand of houses in Hyderabad. The developers also introduced attractive incentives to pull in the home buyers.

Last Quarter of 2020

Hyderabad Real estate saw a significant increase in residential sales in the third quarter and this gives a reason to expect a further increase in the next quarter. The sales may jump during the festive season in the last quarter of 2020. This may be an advantage for many fence sitters to benefit the best deals on offer. Various schemes to lure the buyers is another reason for the rise of sales. 

Festive Fervour 

Based on the previous trends of festive seasons, it is considered that festive season gives an uptick to the sales. Festive season is considered to be the most auspicious for buying property and developers leave no stone unturned in getting various schemes and offers to fuel this season. As the name proclaims, these offers are for a limited time. This period is mostly an advantage to the end-users.

Affordability in Demand

Home buyers are preferring to buy a residential property in affordable segment. The demand is basically for 2BHK and 3 BHK. People have realised the importance of owning a home during Covid 19. An own home is the best place of shelter in times of crisis. 

Preference to Peripheral Areas

Home buyers prefer to move to peripheral areas. Residential real estate is witnessing a rise in these areas. They are ready to move a bit away from the city but their preference of BHK remains the same. Inclination is towards those areas of Hyderabad which has a good infrastructure, Metro connectivity and high employment ratio. Peripheral locations are also connected to ORR .

Ready for Under Construction Properties

Covid 19 has reignited the desire of owning a home. It has also changed the outlook of the people. In most of the cities under construction properties are not preferred but in Hyderabad which has proved to be buoyant, home buyers still prefer to buy under construction properties. This is possible because there is lower risk of project delays and probably high trust on the developers.

Buoyant Real Estate

Hyderabad’s real estate market remained determined and confident hence proved to be buoyant. Hyderabad’s Real Estate maintains strong fundamentals and that is the reason it remained buoyant even after the severe blow of the pandemic. Hyderabad’s real estate market is setting an example of success story by getting buoyant. It is returning to normalcy faster than other states. It is buoyant real estate.

‘Strong walls shake but never collapse’. That is the real estate.

Written by

Kishore Reddy