Satyanarayana works for an IT giant in Mumbai and following lockdown, he returned to his native village. Due to good power supply and effective broadband connectivity, he had been working from his home for last two years. Recently, he started scouting for a school for his children as the Covid-19 restrictions are being relaxed and schools are reopening. He searched for a good school in Mumbai, Bengaluru and Hyderabad as well, as he intends to continue to work from home unless it was mandatory to attend visit his office.
The school admission fee was around Rs 1.5 lakh in Bengaluru and Rs 1 lakh in Hyderabad. But to his utter shock, the admission fee in a school of same standard in his native village was just Rs 25,000. Without any hesitation, he immediately admitted his children in the school in his native village. Thus, he could cut down on the school fee and other expenses as well. As he was anyway living in his own house in the village, he had no major expenditure for the last two years. Hence, he saved the amount and is now hunting for a flat to buy in a good location in Hyderabad.
Just like Satyanarayana, lot of IT employees saved their salaries to a large extent and invested in several properties. However, a few of them got lured into the UDS/prelaunch sales by offering lower prices. However, none of them checked the credentials of the builders and whether he/she could deliver the project as per agreement. As a result, lot of IT employees are now stuck in an unending climax. Hence, home buyers should be cautious and purchase a property in a RERA approved project to ensure the maximum guarantee for their investment.
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