The last two years has seen Hyderabad getting battered in the worst possible way. This has literally hit the final nail on the head of real estate market. Well, latest reports suggest that the market has taken further downfall in the last few months and speculations are rife that this is going to increase.
A manager working with a noted real estate group revealed “The recession gave us the first dent and just when we were about to recover, the Telangana chaos destroyed the total prospects. Going by the current situation, we ourselves don’t know when this political crisis will improve and that is definitely showing an effect on the market.”
Surendar Reddy, a mid level builder added “With market in dwindling shape, even financial institutions and banks have tightened the loan process and their requirements have become stringent. Above all, the fear factor among the customers about price fluctuation, genuineness of properties, political instability etc are making things very difficult.”
A manager working with a noted real estate group revealed “The recession gave us the first dent and just when we were about to recover, the Telangana chaos destroyed the total prospects. Going by the current situation, we ourselves don’t know when this political crisis will improve and that is definitely showing an effect on the market.”
Surendar Reddy, a mid level builder added “With market in dwindling shape, even financial institutions and banks have tightened the loan process and their requirements have become stringent. Above all, the fear factor among the customers about price fluctuation, genuineness of properties, political instability etc are making things very difficult.”
