As the pandemic whiplash is keep-on affecting the economic liberty of the prospective buyers, the city-based realtors are now revisiting their strategies and rolling out new ventures off Outer Ring Road (ORR) area with long term EMI facilities to woo the people reluctant to purchase the plots in just a single shot.
Ever since the outbreak of the pandemic, the real estate business in the state has taken a deep dive as the whiplash keeps the prospective buyers at bay restricting their financial liberties. Almost all the ventures such as HMDA, DTCP and Gram Panchayat are getting lukewarm response as the people not yet came out of the fear of pandemic and are expressing apprehensions with the reports of recurrent waves of contagion doing rounds.
Taking the present situation into consideration, some of the realtors – having ventures flanked on either side of the National Highway No.44 and Srisailam Highway, have rolled out new plans with easy installment schemes to facilitate people own a plot without much strain.
These realtors are offering plots ranging from Rs.5,000 to Rs.6,500/- per square yards on an easy installment period of 30 to 99 months. As the monthly installment was fixed between Rs.9,500/- to Rs.10,000 per month for a plot ranging from 150 to 200 square yards, the buyers can book the plot by paying an advance amount of Rs.60,000 to Rs.2,50,00/- to own a piece of land on their name.
Realty experts too are finding the easy EMI idea more lucrative and applicable as it would bring the realtors and the buyers in a win-win situation where both of them can make a go of instead of simply playing into the hands of a stoic situation.
“This strategy is really working a way better as ventures all the way from Moinabad, Shadnagar, Chevella, Kuthur, Kondurg villages on National Highway – 44 and Srisailam Highway are gradually attracting the buyers who are now having options to plan their dream plots with would fetch them good returns in the coming years, said Mohd.Waliuddin, a city based real estate agent.
Syed Habeeb, a prospective buyer who is planning to own a plot, said, “Most of the people may manage to save atleast Rs.10,000 a month but can’t able to make it into a big number as everyone have their own monthly financial priorities that can’t be avoided just for the sake of future returns. However, scheme like easy EMI with affordable pre-booking amount is a good option and will help the buyers to own a plot and shape the future without much stress.”