For home buyers, this hike signals an imminent end to the all-time low interest regime, which has been one of the major drivers behind home sales across the country since the pandemic began
In a bid to contain inflation, the Reserve Bank of India on May 4 increased the benchmark lending rate by 40 basis points (bps) to 4.40 percent for the first time in two years. This, say real estate experts, is not welcome as the repo rate hike coupled with cost-push inflation in construction is likely to slow down the growth trajectory of the residential sector, which does not augur well for the Indian real estate sector.
Source – Money Control
