While the prevailing view was that the real estate market in India would collapse due to the pandemic, those predictions turned out to be baseless. Real estate affordability improved markedly since the outbreak in March 2020, and with a phased reopening, deferred demand and ongoing vaccination trends, economic recovery gained momentum — giving aspiring home buyers a chance to buy at reasonable prices.
Reasons to Buy in the Post-Covid Period
Overall flat rates were still in a market recovery phase, creating an ideal window for buyers to invest smartly. The government also made home loans available at minimal interest to help revive the economy, and shifting work patterns — with more flexibility around where people live relative to their office — made this a good time for many to reconsider their location and move.
Things to Keep in Mind
- Cross-check the delivery date, and where possible, prefer ready-to-move-in properties
- Compare interest rates carefully, as they vary from lender to lender
- Consider a financial consultant to help choose the right apartment and the right offer
- Pay close attention to location and the architectural plan of the property
- Prefer integrated townships, which balance residential and commercial areas with full focus on resident welfare
- Choose a reliable, renowned builder, since construction quality depends heavily on this
Other factors worth researching include connectivity, liveability and price trends.
Checklist of Do’s and Don’ts Before Buying a Flat
- Don’t forget to check the property record
- Check the apartment’s carpet area
- Complete a legal check of the property before putting in your money
- Find out the possession status of the apartment
- Be aware of any add-on or hidden charges before buying
- Check the financing and non-financing banks associated with the project’s builder
- Look up your credit score beforehand
As we navigate the uncertainty that followed the pandemic, having a safe place to live is a basic need that deserves careful consideration alongside all the usual factors that go into buying a home. Hyderabad offers a wide range of options, and buyers who plan with a financial advisor and realtor are best placed to make the most of the current market conditions.