Could the RBI’s decision to increase repo rates by 25 basis points
(0.25 per cent) lead to hike in home loan rates and higher EMIs? Real
estate developers across the board, feel that this move will dampen
consumer sentiments.
“In these challenging times the decision to raise the repo rates by 25 Basis Points (bps) is tougher than expected and could have been avoided,” said C Sekhara Reddy, president Confederation of Real Estate Developers’ Associations of India (CREDAI). “RBI should formulate a special policy for the housing sector with a focus on affordable housing. We hope that RBI will take cognizance of the industry requirement and will announce a rate cut,” he added.
“Bankers have already started raising rates due to the hike in repo rate,” Pankaj Bansal, director, M3M India, informs. “It will add to the problems,” says Navin Raheja, president, National Real Estate Development Council (NAREDCO).
ABOUT M3M INDIA LTD:
Established over 15 years ago as a real estate developer, under the futuristic leadership of Basant Bansal, with the valuable support of his brother Roop Bansal, Director, M3M Group. M3M Group Stands for Magnificence in the trinity of Men, Materials & Money.
Apart from its ultra luxury residential project , M3M Golf Estate, the Group's latest commercial venture, M3M Urbana is 'Californialike' in design with consumer-friendly retail spaces and sophisticated office spaces that resemble 'Manhattan' , at a prime locale of Gurgaon. M3M Group has also launched M3M Cosmopolitan, one of India's finest retail and commercial hubs in Gurgaon.
“In these challenging times the decision to raise the repo rates by 25 Basis Points (bps) is tougher than expected and could have been avoided,” said C Sekhara Reddy, president Confederation of Real Estate Developers’ Associations of India (CREDAI). “RBI should formulate a special policy for the housing sector with a focus on affordable housing. We hope that RBI will take cognizance of the industry requirement and will announce a rate cut,” he added.
“Bankers have already started raising rates due to the hike in repo rate,” Pankaj Bansal, director, M3M India, informs. “It will add to the problems,” says Navin Raheja, president, National Real Estate Development Council (NAREDCO).
ABOUT M3M INDIA LTD:
Established over 15 years ago as a real estate developer, under the futuristic leadership of Basant Bansal, with the valuable support of his brother Roop Bansal, Director, M3M Group. M3M Group Stands for Magnificence in the trinity of Men, Materials & Money.
Apart from its ultra luxury residential project , M3M Golf Estate, the Group's latest commercial venture, M3M Urbana is 'Californialike' in design with consumer-friendly retail spaces and sophisticated office spaces that resemble 'Manhattan' , at a prime locale of Gurgaon. M3M Group has also launched M3M Cosmopolitan, one of India's finest retail and commercial hubs in Gurgaon.
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