Real Estate Trends Post Lockdown in Hyderabad,Telangana
The pandemic caused by the novel coronavirus has had an impact on everyone’s lives and brought about many changes. The most significant of these changes were on the way people lived & worked. Each & every sector was affected by the economic slowdown caused by the pandemic and the real estate market is no exception. The realty market was considered to be one of the healthiest sectors economically and yet realty suffered too.
Kfortune Real World has a green & pollution-free project at Sivanagar – Patancheru – residential plots for sale at the outskirts of Hyderabad to offer HMDA approved residential open plots at affordable prices and thereby reinforcing the property value that delivers guaranteed appreciation to our customers.
Once countries started recovering & lifting lockdown, the markets started getting back on track at a steady pace. After lockdown restrictions were lifted, a lot of sectors observed an emergence of new trends including the real estate sector. This article focuses on how post pandemic change in mindset has seen an increase in demand for agricultural land, farmhouses, farms with guest houses & residential plots/houses in the outskirts of major metropolitan cities in India.
The increase in demand for property outside the city limits is due to changes in the priorities of people looking to invest in real estate. What changes you ask? Read on to find out:
Housing Away From the Herd
During the pandemic, it was observed that the virus spreads quicker in dense areas & crowds. This has caused a major shift in mindset for buyers as the focus is on living in open spaces – as far away from dense population centers as possible. Naturally, the primary option is to look for land in & around the outskirts to live away from crowded residential areas in the cities.
Swing Towards Clean & Green
Post lockdown, in the ongoing worldwide pandemic, a lot of people have realized the importance of living in a healthy & natural habitat. This outlook has caused buyers to gravitate towards buying agricultural lands in rural areas that are cleaner, greener and healthier environments to live in. People have grown conscious about their living conditions causing buyers to invest in properties that have the benefit of suiting their ecological needs.
Organic – A New Lifestyle
One thing that the pandemic has made us realize is it is better to be self-sufficient & independent be it in cleaning, cooking or washing. Agricultural produce like vegetables & fruits were available in limited quantities with even fewer options. This caused a swing for people looking to invest in property, many buyers recognized the need for healthy produce and the demand for agricultural land shot up. Having agricultural land enables growth of your own organic produce which is fresh and healthy to consume.
Location Away From Suffocation
Increase of population has led to an increase in pollution in urban metropolitan regions of the country. With pollution, come a lot of problems that can deteriorate one’s health. The most obvious solution to avoiding pollution is to move to areas where pollution does not exist, for example – rural areas, suburban areas, farmlands etc. Now that being away from pollution is a key factor in the decision of investing in property, the demand of property in rural areas & outskirts has witnessed a hike.
Long Travel to Workplace? Not an Issue
The trend of purchasing an apartment/house that is close to work is losing favour amongst working professionals. With houses being cheaper in outskirts of the city, employees prefer buying a more comfortable house even if it is away from their workplace. Better connectivity via urban metro rail &urban railway & public transport means employees do not mind travelling longer distances. During the lockdown phase of the pandemic, many employees had to work from home, companies have understood the benefits of employees working from home as it saves them capital expenses in form of rent, electricity, maintenance etc.; Hence, companies have decided to let employees work from home. If employees have the option of working from the comfort of their homes, the need not worry about travelling to work & staying close to their offices. The convenience of working from home has enabled people to invest in properties outside the city leading to a sharp rise in demand for residential & agricultural properties away from city centers.
Owning Better Than Rent/Lease
The pandemic caused a lot of uncertainties for employees regarding steady income. Landlords & owners were unwilling to reduce the rent or take a cut when the tenants were unsure of the compensation they would receive from their employer. As the situation improved, a lot of tenants decided to invest in buying their own houses over staying at a rental property. Bigger independent houses/plots are available in the outskirts of a city compared to buying a property inside the city. This has also led to an increase in demand for land situated at the outskirts of metro cities.
Promising Returns Down The Road
When one buys an agricultural/farm lands or residential plots in suburban or rural areas, there could possibly be large future gains from conversion of the land to residential or commercial property and collect rent/lease or even sell it. Another influence is future scope of government projects around the area as it gets populated with time. Thus, value of land in outer areas of urban settlements or in rural zones increases quickly as the demand increases with time.
Easy to Get Your Hands On
Acquisition costs including buying costs for agricultural lands. Independent houses in the outskirts are generally lower than the same for a plot in the residential areas of the city.
Scattering around the Metros
To reduce congestion in cities, governments are spending funds on developing areas outside major metro cities. Satellite towns of Bengaluru, NCR, developments around Chennai along its highways connecting Bengaluru & Visakhapatnam& development of areas like Miyapur, Gachibowli& upcoming projects in Shankarpally around Hyderabad are few examples of people choosing to move to outer zones of metro cities for better realty. Unsurprisingly, this too led to more demand for property away from the cities.