Happy Holi to All VBVR admired customers:
Telangana Property Registrations:
Hyderabad real estate witnessed to get back on track once the lock down is lifted, touching those numbers who (experts) predicted before beginning of the year 2021, as 2020 was an unexpected turn for economics the pandemic brought standstill the growth trajectory of many industry, real estate is also one of major hit in the 2020 as 2 months complete halt of business. Expecting 2021 would be the most promising year for the real estate. The city accounted more than 40% of overall new launches and recorded lowest unsold inventory compare to national unsold inventory across eight metros.
There is a change in consumer buying behaviour as per the experts survey homebuyers are looking for premium value properties where they would get all facilitates. Many buyers are looking for 3 or 4 bedroom large space houses as they want to setup their home office because of recent shift in software industry as many companies asking employees to work from home and when question of work from office there is no concreate decision from IT management as of now and it’s not going to be normal again 100% work from office so in future some percentage of employees would continue their work from home option as big service based companies like TCS and others are already announced that they are looking for a model of 50-50 to bring in when the WFH is concerned.
Despite the pandemic last year Hyderabad real estate market did well according the experts, as new housing units are increased as the demand from customer is increased. One of the main reason would be low rate of interest for home loans and the unchanged repo rate announced by Reserve bank of India(RBI). Now it’s time for middle class people to go for own house instead of staying in the rental. These two factors are very attractive for middle class buyers looking towards own house property. The rates in Hyderabad real-estate is as lower as compare to other cities as Telangana Government is also helping in terms of not taken the decision of raising land values now. The approach of keeping low rates would really help city to grow next level to meet Bengaluru’s in few years. In recent times have seen some momentum in square feet rate in Hyderabad floor rate but customers are ready to invest as they got better opportunity in terms of rate of interest. This is actually applies in Plot space as well, Bankers are issuing good amount of loan as a land loan for those interested to go for plot purchase in a required well developed approved layouts.
Telangana Government had initially planned to raise the registrations rates to meet their targets in the financial year however due to Pandemic they have not taken the decision of raising the rates. So this may soon will come to an effect so this is the right time to book a plot and register because the cost per yard in Hyderabad will increase if the gov increases the rates. As stated within two and half months from the date that registrations open for non-agriculture lands gov would able to collect nearly 2000 crores most of the percentage from real estate hubs, imagine the flow of registrations happening in the city revenue department, one can say that this is because of earlier hold on registration that is also one of the reason to increase the registrations however as experts saying Hyderabad real estate was not down during the pandemic time and again its increased after November, December 2020 and seeing continuous growth.