The real estate business is in real trouble across the country. When Hyderabad is doing very well in terms of the real estate business, the Corona has come in as a bolt from the blue.
Majority of the construction workers have gone back to their villages and it will be very difficult fo them to come back to Hyderabad. It will take some more time.
Mos the workers now want to stay in their home towns. There is no liquid money as such in the industry or any other sector. There is no sale or purchase of the flats or lands.
The registration offices have not collected any revenues in recent times due to the lockdown. It might take another year for the sector to get stabilised.
People are trying to hold the cashback for their future emergency purposes. A lot of ventures have been shelved due to paucity of funds. Many of them do not want to invest now.
Some of them want to go back to their villages. So a lot of changes are expected to happen in the real estate business. No business can run properly when there is no proper demand.
Let’s hope things will fall in line and the business will start happening in the near future.
