The increase in the REPO rate might not be a welcome step, as the real estate industry has been enjoying a bull run backed by revived demand and reduced home loan rates. The real estate sector across the national capital region (NCR) expressed concern over the RBI's revision of the repo rate and subsequent hike in EMIs. The market, which is already limping back from consecutive pandemic-induced lockdowns, will lose many potential buyers in the economic housing segments, experts said.
Ankit Kansal, Managing Director of 360 Realtors, said, “In general, the increase in the REPO rate might not be a welcome step, as the real estate industry has been enjoying a bull run backed by revived demand and reduced home loan rates. However, there is visible turbulence in the international financial markets, which is resulting in inflationary pressure on India and the Central Bank is supposed to take precautionary steps. Across the globe, we have seen central banks increasing repo rates and the recent hike by the RBI is an extension of a larger global phenomenon."
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