There was a time when Hyderabad was booming mindlessly in the real estate market but now, all those who got extremely greedy and hiked up their prices are now paying a heavy price. Reports are arriving that the worst hit are the mid-sized builders who are now offering heavy discounts for their projects.
It is heard that to those who are willing to pay cash, the builders are offering discounts of upto 40%. The reason for this is the strong pressure from the money lenders. Already, the builders are choked due to the 3% interest being charged and despite recession, the interest rates have not changed.
And some areas like Miyapur are reporting discount packages of upto 50%. However, the builders are careful not to make this a public offer. It is heard that this is being done behind close doors and only when the buyer is coming up with a cash proposal.
For now, the builders are hoping to clear off the money lenders to save further embarrassment and unfortunately, not many transactions are happening.
It is heard that to those who are willing to pay cash, the builders are offering discounts of upto 40%. The reason for this is the strong pressure from the money lenders. Already, the builders are choked due to the 3% interest being charged and despite recession, the interest rates have not changed.
And some areas like Miyapur are reporting discount packages of upto 50%. However, the builders are careful not to make this a public offer. It is heard that this is being done behind close doors and only when the buyer is coming up with a cash proposal.
For now, the builders are hoping to clear off the money lenders to save further embarrassment and unfortunately, not many transactions are happening.
