Homebuyers demand an additional discount along with ease payment schedules.

Though the lockdown hasn’t prevented queries regarding new houses, developers at Hyderabad say most prospective customers are now calling with additional requests — from a higher discount rate of somewhere between 15% and 20% to compensation schemes, if they want to withdraw the deal later on. Another common request: relaxation in payment schedules.

“We get a decent amount of calls per day for our three projects up for sale but far fewer than average. At least 50% of these possible customers ask us to ease payment schedules after the deal has been concluded. And that’s predicted as everybody is now careful regarding their finances,” said Tapas Patel, CEO of Om Sree Builders and Developers, a prominent Secunderabad real estate company.

Though working to satisfy this request, Patel says giving a discount is not an option at least before all sectors recover. Developers all over the city consent. Reason: The uncertainty of building a higher rate once the lockout is released. Industry insiders claim they still get feelings towards an upward revision in the price of cement, steel and other raw material, shortly after the market resumes.

“It is going to take a toll on the builders anyway. But giving discounts, more than what is normally offered is out of the question, no more than 2% to 5%. The profit margins are now quite low,” Manbhum Constructions director Ashwin Rao said. He’s confident the city’s residential market should start looking up gradually but progressively in the next six months.