Well, all those glory days of overhyping the land prices and earning crores is history. The ground reality today is that selling a flat even at half the price has become quite a challenge. This is not just for mid size realtors but also for big corporates who are stuttering badly in Hyderabad.
Reports say that giants like Aparna Constructions and others are coming up with offers wherein ready to occupy flats are being sold at a whopping discount of Rs 8- Rs 9 lakhs. This would mean that a two bedroom flat which was costing around Rs 35 lakhs is now available at Rs 26 lakhs.
The prices have been falling sharply and with the Telangana issue still burning, the market looks grim for the builders. It is heard that flats in Kompally that were priced at Rs 2100 per sft are now being sold at Rs 963 per sft so you can figure out the math now. A report says that about 18% of projects are ready to be possessed.
