Home Buyers Seek Relaxation In Payments
While the lockdown has not put a stop to enquiries about new homes, Hyderabad’s developers say most prospective buyers are now calling with requests for discounts of anywhere between 15% and 20% to refund schemes, in case they wish to withdraw the deal at a later stage. Another common request is a break in payment schedules. Tapas Patel, CEO of Om Sree Builders and Developers said, “At least 50% of these probable customers are asking us to ease payment schedules, once the deal is signed. That’s expected since everybody is cautious about their finances now.” While he is working on accommodating this request, Patel says offering a discount isn’t an option. The reason being fear of a higher rate of construction once the lockdown is lifted. An upward revision in the price of cement, steel and other raw material is expected soon after construction resumes.
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