[ad_1]
RBI Repo Rate Effect On Real Estate: If you are planning to buy an affordable house, or want to buy your dream house. So this news can prove to be very useful for you. The Monetary Policy Committee of the Reserve Bank of India (RBI) has once again shocked the home buyers on Wednesday. RBI has increased the repo rate by 0.25 percent. After which all the banks will also increase the interest rate of their home loans. This will also increase the EMI burden for home buyers. Along with this, there is a possibility of damage to the real estate sector. Know what is the new update…
effect of increase in repo rate
The real estate sector will suffer after the increase in the repo rate. Due to this, cheap and affordable home buyers may have to face problems. The mood of the people who are dreaming of buying an affordable house is expected to change. They can also take forward the decision of their dream house.
buying a house will be expensive
The change in RBI repo rate is sure to have a direct impact on the real estate sector. Whenever RBI increases the interest rates, along with it banks also increase their home loan rates or make them costlier. Due to this, buying a house also becomes expensive. Along with this, the demand for houses may also reduce. Due to costlier loans, people start cutting down on their expenses, which reduces the demand for homes.
Interest rates will increase on home loan
Anuj Puri, Chairman, ANAROCK Group, a property consultant firm, says that after today’s hike, interest rates on home loans may cross the 9.5 per cent mark. In such a situation, we may see some pressure on the sale of affordable and mid-range homes, as they are more cost conscious. He said that the slowdown was already being seen in the affordable segment and now the increase in the cost of buying a home could further impact it.
The total demand for houses will be affected
Amit Modi, Director, County Group, President CREDAI (Western UP) says that the 25 basis points hike by RBI bank will definitely help in controlling inflation concerns. Will help. But we are also expecting a stable interest regime for the long term. At present, there should not be much worry about this increase, because it is a very small increase in comparison.
loss of real estate stocks
Only after the increase in the repo rate, the shares of the real estate company have suffered losses today. The shares of Phoenix Mills have fallen by about 5 per cent in the stock market. Along with this, the shares of Sunteck Realty, Prestige Estates, Brigade Enterprises and Oberoi Realty have also seen a decline.
read this also
[ad_2]
Source link