Should You Buy Apartment in Hyderabad This Year? Find Out Now!

 Due to the pandemic, many people are forced to work from home for the last 9-10 months. Not sure when they are likely to be called back to work, people are spending their free time searching for property in Hyderabad. COVID-19 has given people enough time to rethink about investment decision and buying a home in 2021.

There are several reasons for people to buy property now. First, a sufficient amount of savings due to restricted lifestyle amidst pandemic. Another reason is that post the pandemic property cost today are at pragmatic levels, mortgage rates are at the lowest, some states have started reducing the stamp duty to make property purchase comparatively affordable, developers are offering flexible payment schemes, stamp duty, and other benefits. What this means is that post the pandemic, one is at least assured that one need not buy apartment in Hyderabad at ridiculously inflated prices.

Home loan interest rates are low. Coupled with the low property prices and additional discounts and offers by developers, there are real savings to be secured on life's most cost-intensive investment. Housing affordability has improved with the times. To boost consumption, the RBI has brought lending rates down and thrown several other relaxations.

Developers have not only cut prices to their lowest best but also reacted to the current requirements by offering several cost-saving incentives. Further, serious buyers looking for property for sale in Hyderabad can negotiate the final price like never before. Developers are rolling out multiple deals and discounts to attract buyers along with the government incentives that lead to 5-15% reduction in overall cost acquisition. Developers will continue to fuel demand in 2021 as well.  

There are also various options available in the market, even in ready-to-move properties and luxury apartments in Hyderabad. Moreover, prices of ready to move properties are almost equal to under-construction homes in many areas. This has never occurred before - and since developers have curtailed new supply, it is unlikely to happen again. Never have homebuyers had such a tempting choice range, at such low prices. 

Besides apartments, buyers could even consider buying into a plot by a reputed builder. Amid the COVID-19 pandemic, demand for plots has gone up as people see this asset class as a low capital investment with limited project execution risks and faster exit opportunity while for developers it is a means to generate quick cash flows and a smart strategy to liquidate land banks for raising working capital.