All of India is witnessing a downtime when it comes to real estate. The property prices are seeing a low in all major cities and that includes our very own Hyderabad.
Though being lauded as one of the most developed cities in the country, the city has seen a 47% dip in sales, as compared to previous year.
Only 12,682 units were sold between October and December, as compared to 24,044 units last year during the same period. This is in alignment with a dip in other metros like Bengaluru at 13% and Chennai at 9%.
High base rents pushing property prices, increasing costs, high inflation and other economic uncertainties have led to the current situation in Hyderabad realty scene.
Pan India, transactions have dropped in nine major cities leading to overall decline of 21%. But, there is a catch here and Hyderabadis and those wanting to invest in Hyderabad need to see the silver lining in the clouds.
To increase sales, the builders are now offering discounts, flexible payment options and ready to move in homes. While the ready to move in homes are a bit costly, it helps the buyers nevertheless.
If you are thinking of investing in the city of pearls, this is the time!
