The recession has taken its toll on Hyderabad Real Estate market where land prices and apartment prices are down by 40 percent. The job losses specially in IT/BPO sector and speculations over more job cuts lead to this down trend. Though this is good times for new buyers, it is really going tough for builders and resellers. Builders are coming forward and willing to negotiate prices with the customers. And some builders are even advertising with ‘buy one and get one’ tag in order to dispose their properties as early as possible.The residential land prices near Manikonda, Gachibowli and Kokapeta which were going for Rs.20,000 - Rs.25,000 per Sq.Yard before are now Rs.12,000 - Rs.15,000 per Sq.Yard.

Most of the apartments which were sold for Rs.3500 per Sq. Ft before are now going for Rs.2000 per Sq. Ft. or even less. A two-bed room flat in Nizampet road, Kukatpally is costing around Rs. 20 lac now. And the prices for independent house/villas also fallen down by more than 35%, an Independent house of 2700 Sq.Ft area in locations close (< 5Km) to Hitech city is costing now around Rs.50 lac. And also builders are more open and flexible now with respect to instalment payments.Reserve Bank of India (RBI) today announced that it is further cutting repo, reverse repo rates by 0.25 percent. A cut in reverse repo will have a direct impact on home loans that will become cheaper and this certainly brings good cheer amongst consumers.

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