Hyderabad: When is the right time? This is an aspect that most property seekers consider for a long time, spread inquiries around and spend a lot of time trying to arrive at the right time to buy themselves a nest egg. But then again, as is often said, perfect timing does not exist. right time (…)
Published date – 19 August 2022, 11:10 pm
Hyderabad: When is the right time? This is an aspect that most property seekers consider for a long time, spread inquiries around and spend a lot of time trying to arrive at the right time to buy themselves a nest egg.
But then again, as is often said, perfect timing does not exist. If one waits for the right time it never comes. Remember one key rule – the moment the idea of buying a property arises and starts to germinate, it is the right time to seriously start exploring options, examining finances, taking on projects – and so on until it is completed. Don’t stop until you go! As far as property matters are concerned, many people would agree that there is no point waiting until things go as you wish.
Property acquisition involves many aspects, like raising the required funds, obtaining loans to fill the gap that always exists for most middle-class families, narrowing down the location, identifying the right developer and all those prescribed legal checks. Adherence and balance. It is indeed a cumbersome process, but the wait only hurts one’s chances of getting a roof over one’s head.
Apart from all the essential issues that need to be handled, there are other dilemmas that often bog down many people. One of the first questions usually raised is ‘will real estate prices go down?’ Follow up with this question and everyone you ask tries to answer like an expert on the issue, to which you get contradictory responses.
In terms of property, Hyderabad and its adjacent and extended suburbs have in recent years reached a point where the idea of falling prices has become a mere pipe dream. The fact is that the extended COVID-19 pandemic and related scenarios like lockdowns have also failed to impact pricing.
Arguments have been made about the unscientific increase in property prices in the city and suburbs. But it is better to leave that controversy behind. This may have been valid once speculators drove the market higher in the early stages of the bull run. Yet, contrary to what many had hoped, prices did not fall as much as expected, but adjusted with only a slight correction.
But Hyderabad’s growth in an area that encompasses the suburbs and extends beyond has put the city firmly on the real estate radar. And industry leaders believe that with the road still ahead, prices will continue to rise, albeit in smaller increments. He estimates that there may be disruptions, acts of God or some unexpected emerging scenarios in between, but they will certainly be minor as the realty sector will rapidly absorb them and move forward.
A leading developer with multiple projects in the city explains, “If you are considering buying a 2BHK flat, which is available right now in the range of Rs 80 lakh to Rs 90 lakh, but delaying the decision for six to seven months, Are. The same property will cost you more than Rs 1 crore.”
The advice of another veteran of the realty sector is also similar. What he has to say is succinct, “Don’t wait in vain for property prices to go down. You will have to pay more only after the waiting period is over.”