Hyderabad realty to notably regain normal state rapidly than other cities By chandra mouly on 10/07/2020 | 0 comment
As per Telangana confederation of Real estate developers and association of India, The real estate market in Hyderabad will bounce back much faster than other cities as positive sentiment still prevails and sales are happening in the city despite Covid-19 pandemic. On an analysis, it’s discovered that Enquiries improved a lot and sales are happening. However, sales vary from project to project. But sentiment is not low in Hyderabad though that is not the case with other cities like Mumbai and New Delhi. It is expected that a significant bounce-back in sales by around September this year. “As there is no widespread negativity and pessimism in the market, the expectation in the Hyderabad market to bounce back much faster than other cities. One of the financial major had sanctioned six project loans in Hyderabad during Covid-19 period and all of them are fresh loans. It sanctioned the loans without reducing the value of any of the projects, which is very positive sign”. Market has slowed down a bit in Hyderabad and Telangana. That’s a fact. But there is no way property prices will go down. In the wake of increase in cement, steel prices and labour expenses, construction cost has…Read More
Category : Blog
Property registration picks up speed in Karnataka By chandra on 08/07/2020 | 0 comment
Karnataka’s retail real estate market is slowly emerging from the widespread Covid-19 as per the revenue generated from property transactions in one month of operations during the lockdown. The government has received an amount of Rs 253 crore since all sub-registrar offices resumed registration of properties from April 24 even in GlobalCovid -19. Till May 21, a total of 68,000 documents have been registered of which 60% are related to property. The average revenue generated in the period as per officials comes to Rs 15 crore a day. About 60% of the registrations are in Bengaluru and the neighboring districts.With Home loan EMI’s set to turn cheaper after RBI’s rate cut, the government is expecting revenue to go up Rs 30 crore per day from property registrations in the month of July. Construction schedules are expected to go by RERA timelines of the project. The Karnataka government on May reduced the registration stamp duty from 5% to 3% for properties costing between Rs 21 lakh and Rs 35 lakh in abid to give a leg-up to the ailing realty sector.
Category : Blog