Now is the right time to buy a house.
Good opportunity to bargain with builders.
With decline in sales, builders are reducing the prices of flats.
Flat costs reduced by 5–10 percent.
Plot costs reduced by 15 percent.
Now is a good time for those who want to invest in real estate in Hyderabad. Whether it’s an open plot or a flat in an apartment, now is the time. Wondering why? As long as the previous government was in Hyderabad, the prices of plots and flats were gradually increased by the developers. However, since the announcement of the Assembly election schedule last year, sales of flats in the city have decreased. The main reason for this is the decrease in cash flow in the wake of the elections.
Generally, two to three thousand flats are sold in Hyderabad per month. But experts say that since the last six months, sales have been going on at a rate of 1,000 per month. In the latest report released by Prop Equity, sales in Hyderabad fell by 35 percent in the second quarter of 2024. So, now the developers are not in a situation to increase the prices of flats. Moreover, they aren’t sure how long this situation will last. Hence, currently, this is a buyer’s market, so it can be said that it is the right time to realise the dream of owning a house.
Everyone thought that the construction sector would pick up after the Assembly and Lok Sabha elections. However, the situation did not change when Congress came to power in Telangana and Revanth Reddy took over as the Chief Minister of the state. Moreover, with announcements like the cancellation of Shamshabad Metro and Pharma City, the realty situation in Hyderabad has worsened. Due to this, those who want to buy plots and flats are adopting a wait-and-see attitude. That’s why the builders who were adamant about reducing flat rates are now reducing the price if the buyers bargain. In Hyderabad, depending on the area and the project, the builders are reducing the flat price from 5 percent to 15 percent. So buy a plot or a flat in an apartment at this time when the market is down.
