Housing EMIs to get dearer after RBI's interest rate hike
Axis Ecorp CEO and Director Aditya Kushwaha claims that the real estate sector had staged a spectacular comeback but the repo rate hike has the potential to thwart the growth. ‘‘This hike will push up home loan rates further and make EMI costlier. The sector is already feeling the heat from the mid cycle hike announced in May. The demand has been significantly impacted, and we believe that the current hike will have a far greater impact. The affordable housing segment will be affected the most through this hike, while the luxury and secondary home segments may remain immune,’’ he said.
Knight Frank India CMD Shishir Baijal said home loans are set to get costlier. ‘‘Rising interest rate along with elevated property construction cost and input price pressures could adversely impact the real estate buyers’ sentiment,’’ he added.
"The twin rate hikes by the apex bank would ultimately result in home loan interest rates going up, thereby impacting buyer sentiment," Dhruv Agarwala, CEO of Housing.com and PropTiger.com, said.
