Dream home: Go for it

Hyderabad: When is the right time? This is one aspect that most property seekers ponder upon for long, spread the query around and spend lot of time trying to arrive at the right time to acquire a nest for themselves. But then, as it is often said, the right time doesn’t exist. The right time […]

Hyderabad: When is the right time? This is one aspect that most property seekers ponder upon for long, spread the query around and spend lot of time trying to arrive at the right time to acquire a nest for themselves.

But then, as it is often said, the right time doesn’t exist. The right time never comes if one ends up waiting for it. Do remember one key thumb rule – the moment the idea of buying a property gets conceived and starts to germinate, that is the right time to seriously start exploring options, checking finances, visiting projects – and do not stop till it is done! As far as property matters are concerned, many would vouch that there is no point waiting for things to fall in place as you wish them to.

---

Property acquisition does entail several aspects right from raising required funds, getting loans to fill the gap that always seem to exist for most middle class families, narrowing down on the location, identifying the right developer and following it up with all those prescribed legal checks and balances. It indeed is a cumbersome process, but waiting only affects the possibilities of getting a roof over one’s head.

Apart from all such mandatory issues that need to be handled, it is the other dilemmas that often leaves many bogged down. One of the first questions that are usually raised is ‘will the real estate prices come down’? Go around with this query and you end up with conflicting response for everyone you ask tries to respond like an expert on the issue.

In matters of property, Hyderabad and its immediate and extended suburbs in recent years have reached a point where the idea of prices taking a downward curve just ends up as a pipe dream. Fact is that even the extended Covid-19 pandemic and its related scenarios such as lockdowns have failed to impact the pricing.

There have been arguments of unscientific rise in property prices in the city and suburbs. But that contention is best left behind. It could have been valid once when speculators in the initial phase of the boom drove the market to highs. Even then, much against the anticipation of many, the prices did not drop as they were expected to but only adjusted with minor corrections.

But the growth of Hyderabad in widening circles encompassing the suburbs and extending to places beyond has the city firmly entrenched on the real estate radar. And the industry leaders believe that the way is just forward, the prices will continue to rise, albeit in smaller increments. There could be bumps in between, Acts of God or some unexpected emerging scenarios, but they surely are going to be minor with the realty sector quickly absorbing them and move ahead, they aver.

Points out a prominent developer with several projects in the city, “If you mull buying a 2BHK flat that say, is available in the range of Rs.80 lakh to Rs 90 lakh now, but delay the decision for six to seven months, the same property will cost you above Rs.1 crore.”

Similar happens to be the advice of another veteran in the realty sector. His point is rather succinct, “Do not wait in vain for the property prices to come down. You only will end up paying more after the wait period is over.”