Hyderabad: Vasavi Group Managing Director Yerram Vijay Kumar has said that Hyderabad attracted attention of people from other states because of excellent medical infrastructure, availability of expert doctors. Many evince interest to own property in Hyderabad. Talking to Real Estate Guru, Vijay Kumar said the Covid impact on the real estate market is purely temporary and would have no loss in the long run. He said that realtors are optimistic that the market will improve after the lockdown.
Covid or not, every one should own a roof over their head. Therefore, people with purchasing ability should buy a home at one time or the other. There is no doubt about it. The more the delay the more burdensome it would be to buy a property, he said.
Some people, on one pretext or the other, postpone buying home. In front of their own eyes, the cost escalates. Therefore, it is always preferable to buy home the earlier the better.
Medical hub
After pandemic situation has eased, the realty sales have increased from July last year to March this year by at least two times. The Covid has made people to buy own homes due to bank interest rates becoming attractive. This is one of the reasons for increase in property sales on all directions from Hyderabad. Compared to other metropolitan cities, the prices are better. Moreover, the city emerged as a medical hub. That is why; people from other states want to settle down here.
People from Jarkhand, Uttarakhand, Maharashtra, AP, Tamil Nadu and so on purchased properties from Vasavi Group till July this year, he said. There are no Covid treatment facilities in towns close to Hyderabad. There are no beds and oxygen supply. Many people visit the city for other medical purposes apart from for treatment of Covid-19, he observed. Some of them are settling down here.
People looking @ higher plinth area
Now-a-days people want to buy property with more plinth area due to changes brought about in thinking pattern by Covid-19. The companies are following Covid-19 rules without any deviation. The companies are buying 20,000 sft office space instead of 10,000 sft. In the two office complexes being developed by Vasavi Group, many companies booked the offices with more and more space. Since the first lockdown till March this year, the group sold 7-8 lakh sft of commercial space, he said.
Since entering the city’s realty sector 26 years ago, he claims to have completed 50 projects successfully, developing over 2 million sft of space. The group is engaged in development of 10 projects in the four corners of the city, building over 10,000 flats in five million sft of space. Of them, two are commercial projects. Besides these, the company has gated community venture projects at Toomukunta, Shamirpet and Sadasivapet. Besides, the Vasavi group is developing open plots in over 300 acres.
Lastly, customers who made enquiries and spoke to the employees are purchasing plots online. The employees are always ready to help them. But, some of them are holding back their savings up to Rs 15 lakh for future needs. They are likely to buy flats after one or two months. Therefore, there will be no looking back for realtors in future.
