June 15, 2020

How have the Home-Buyers been affected by the prolonged lockdown?

Rakesh Reddy, Director, Aparna Constructions, For 99acres

The recent slowdown of the Realty Sector has had an impact on the mindset of the home buyers too. About which, our Director Mr. Rakesh Reddy shares his thoughts during a Webinar conducted by 99Acres. Here are a few things that all home-buyers must know about the sector:

Progress made with On-Ground Activities: 

The last few months have been difficult for on-ground activities due to the prolonged lockdown. But from May, work on the ongoing projects has been resumed, and Aparna Group has observed inquiries, site visits and conversions improve by 60-65%. The market sentiment in Hyderabad has remained better when compared to other cities as the majority of workplaces provide good job security during this slowdown.

Regaining momentum on Upcoming Projects:

The Government Policies have led to the resumption of construction activities since May. Aparna Group has also observed that most of the labourers have returned in the last couple of weeks. Now, the ongoing projects are being operated at 50% capacity, and with some further progress, the timeline of delivering these projects can be met. Further, Aparna Group has introduced ‘Aparna Price Protection Cover’ for new customers till December in the likes of encouraging investors who fear losses due to anticipated price cuts.