Middle class thinks that it is a blessing of HYDRA and Telangana chief minister Revanth Reddy that they can buy a house in Hyderabad.
It is known that real estate people are very scared and are selling apartments at reduced rates.
If this continues for a few more months, the prices of apartments of big builders that have increased in Hyderabad will become affordable.
The flip side is that while middle-class people have noticed that apartment prices have come down, they are hesitating to buy due to fears of HYDRA tensions.
Being from the middle class, they cannot afford to buy in elite constructions and instead tend to invest in regular, non-gated community apartments priced under Rs 1 crore or around that range.
However, such ventures may be at risk of being located in FTL areas, buffer zones of lakes, government properties, or waqf lands, where there is no clarity or trust despite the paperwork provided by the builders.
This lack of trust has developed into fear among the middle class after seeing the destruction caused by HYDRA, though some builders claimed that their properties were demolished in spite of having papers in hand, without even giving notices.
So, although prices have come down, demand has not picked up. As a result, prices continue to fall, and some builders are attempting to sell their projects at cost price, fearing the burden of interest. However, many of them are still failing to instill trust among middle-class buyers.
Unless HYDRA activity is streamlined and the government releases a clear guideline detailing how to buy litigation-free property in Hyderabad, the real estate market may not experience a boom, whether in middle-class ventures or higher-end developments.
Even elite constructions are seeing price reductions due to a lack of demand in that segment.