[vc_row][vc_column width=”2/3″][vc_column_text]It has been three months since people have been in lockdown due to Covid-19. People have faced a lot of problems in many ways. But one of the most important problems faced by people is paying rents. Most people went to their home towns and villages to escape the contamination of Covid-19 in cities. But all those people still had to pay the rent of the apartments they were living in. This because they left all of their furniture and other belongings in their apartments. All the sectors throughout the country are greatly affected due to the pandemic situation. Most of the industries were shut down and people lost their jobs. Even some people of the IT industry who are working from homes had to take a pay cut due to this lockdown. With all of this going on it is extremely difficult for people to pay rents.
All of these difficulties made one thing clear that owning your own house is better than living in a rented apartment. Many people have realized that they will be more healthy both physically and financially if they have their own house. So post Covid-19 pandemic will be a great time to buy a home or more importantly a villa in Hyderabad.
Looking at a few countries which got rid of Covid-19 one can easily tell that the Indian Real Estate will definitely bounce back. The Real Estate of Hyderabad is sure to witness a surge. This is not just a mere prediction, it is a fact. Anyone who has been following the Real Estate market of Hyderabad for the past five Years knows this is going to happen. Because there are plenty of reasons to believe it and some of the reasons are given below.[/vc_column_text][vc_column_text]
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A Metro City That is Developing at a Fast Pace
The Real Estate of Hyderabad has seen more increase than any other Metro city in India in the past five years. While the average property sale in other major Metro cities across India decreased, whereas it increased in Hyderabad by 32%. It is good if you are looking forward to buying a Villa in Hyderabad. This is beneficial for both the seller and the customer. Because the seller will be selling properties at profitable rates and the value of the property will keep on increasing even after the buyer acquires the property. This happens because the demand for Real Estate is rising.
All of this rise, in Real Estate, is because of the proactive steps taken by the government to turn the city into a Global Metro. The government has taken major initiatives so that the city is suitable for doing all kinds of businesses. Telangana government has passed an act to improve the ease of doing business in the city which played a major role in increasing the demand for Real Estate.
Reduction of Repo Rates
The repo rates in India are the lowest compared to the past ten years. This provides a great opportunity for people who always had a dream of buying a new home. The RBI has decided to cut the repo rates by 0.75 basis points. It took this decision in the month of March 2020. This was seen as a great sign because it brought down the interest rates for all kinds of loans including Home Loans of Banks in both the private and public sectors. The interest rates on Home Loans across all Banks are roughly anywhere from 7% to 8%. All this means that it is a great time to buy a property in one of the fastest developing Metro Cities in the Country.
Many people may think that this is not great as it sounds so is a number game that will make you think twice. Let’s you have bought a villa for one and a half Crore using a 25 year home loan. You bought it for the interest of more than 8% then you have to pay nearly one lakh twenty thousand per month. But if you buy it for an interest which is slightly higher than 7.5% and if you add tax benefits to it then you will be saving almost ten thousand every month. This shows that post-COVID-19 will be a great time to buy your dream villa in Hyderabad. It is better to hurry because the value of properties will Increase even if the interests don’t. There are beautiful villas for sale which are part of a villa project by Muppa in Tellapur that is near ORR.
Rise of Multinational Companies and IT Industry
More and more World-renowned IT companies are building their Headquarters in Hyderabad. All of these companies seem to love Hyderabad. Part of this is because of the Infrastructure in Hyderabad. The city is being very quick in developing its Infrastructure. Hyderabad is getting the Infrastructure that is set to make it one of the best Metro Cities in the Country. The Metro Rail project which has become a huge success in the City is also a key part of this plan.
After its construction, Transportation through the City has become even easier. It has completed all phases of its construction and was providing great service to citizens until the Covid-19 lockdown. Other important transportation services like local Trains, Buses, and projects like ORR make navigation through the city effortless.[/vc_column_text][vc_column_text]
[/vc_column_text][vc_column_text]Along with all these facilities comes the Real Estate prices which are cheaper compared to other Metro cities with similar facilities. This is one of the main reasons for the boom in Hyderabad’s IT industry. There are lots of Global Giants like Microsoft, Amazon Google, and Apple that set up their companies in Hyderabad. Not only these companies but Indian Multinationals like Wipro, TATA Consultancy, and Infosys also have set up large offices in the city.
With all of these developments, Hyderabad is going to have lots of opportunities. Because of this many people from not only India but across the World are going to come to Hyderabad. The immigration will increase even more after the Covid-19 pandemic because many people have lost their jobs and people are going to come to Hyderabad in search of new opportunities. If the population increases then accommodation prices will increase and it will become difficult to find affordable housing. It will be even more difficult to find Villas for affordable prices as time passes. So the best thing to do is to buy a property as soon as the lockdown ends and everything goes to normal.[/vc_column_text][vc_column_text]
Conclusion
Yes, the Real Estate market is not so great right now because of the Covid-19 pandemic. But all of this will change once the pandemic ends. Everyone will rush to go back to their work and every industry will start rising again. It is the same case with Real Estate. The Real Estate market was on a rise before Covid-19 and the same thing will happen post-COVID-19. Since the RBI has decreased the repo rates so it will be good time to buy a luxury villa in Hyderabad. You won’t get a better opportunity than the aftermath of Covid-19 as the property prices will increase for sure.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text el_class=”post-contact-form”][fc id=’2′ align=’center’][/fc][/vc_column_text][/vc_column][/vc_row]