Many tempting offers, so many free bees and at lowest rates- It is a TRAP. There are over 2,00,000 apartments ( new-old-resale-bank attached-distress sale) and many more will be in the market within 3 to 6 months.
The realty sector will have more properties to SELL, but their prices have not COME DOWN OR REDUCED. There will be fancy names and facilities, which are useless, are offered as free. The marketing team is stressed up and are compelled to meet the unbelievable, unreachable and unachievable targets, so you can hear lots of sugary talk and offers.
Once, the advance amount is paid, then, begins the misery. After the registration, misery will unfold its true face. Once, the possession is taken over, start living, the freebies offered and its value will be known.
By the time, it is realised, that an abnormal price or money paid for the property, the buyer is fully down and well trapped in the DEBT, it will take another 10 years to come out of it.
BE CAREFUL, BE MODEST, BUY WITHIN YOUR CAPACITY OR CAPABILITY. WAIT AND WATCH. THE PRICES MUST CRUMBLE.
DISTRESS SALE IS THE ORDER OF THE DAY.
The real story begins after 3 or 4 months of May, 2020, as the realty sector driven by the IT development, looses its sheen, due to Covid-19 after effects, there will be no NEW PROJECTS and the existing projects will be completed soon, there will not be much job offers, leave alone the jobs, there will not be any increments or new projects, naturally, reverse migration, might begin in 6 months, thereby, the demand for properties will trickle down and there might be a good number of properties at reasonably good prices will be offered or available. Even, if the prices are not low, it will be modest and it will be safe to buy during such periods.
The return on investment in properties (sites,houses & apartments) will be anywhere between 1% to 3%, if there is 75% occupancy, if the occupancy is 50%, then, there might be -1% to -3% and the scenario may not be good. Even, now the returns on the investment made in 2000 to 2015 is anywhere between 3% to 10% and between 2015-2020 is 1% to 3%.
SAVE. PLAY SAFE. DO NOT MAKE ANY FINANCIAL COMMITMENTS. DO NOT BOOK ANY PROPERTY for couple of months.