Residential sales have continued to show robust growth while registering sales of 83,220 units, a 49% YoY growth between July-September 2022 as compared to 55,910 units sold in the corresponding period last year, according to a report by REA India-owned online real estate platform PropTiger.com.
With the festive season on the doorstep, real estate companies are offering a multitude of gifts, from gold coins, cars, iPhones, and club membership to foreign trips to attract homebuyers.
As widely expected, the Reserve Bank of India (RBI) hiked the repo rate for the fourth time in a row by a further 50 bps to 5.9% in its bi-monthly policy meeting on Friday – a move which will make all types of loans, including home loans, more expensive now.
In a bid to rein in inflation, maintain global interest rates parity and ensure the stability of the currency, the RBI in its MPC meet on Friday decided to increase the repo rate by 50 bps for the fourth consecutive time to 5.90%.
Although the increase in the repo rate was along the expected lines, industry experts and developers feel the rate hike does not augur well for the real estate sector, especially the residential segment, as it will result in increased mortgage rates.
Financial Express
PF Desk
India Sotheby’s International Realty (ISIR), a leading real estate consultancy firm, has entered the Bengaluru luxury market with an exclusive marketing mandate from Agrocorp Landbase (P) Limited for the company’s unique living-cum-investment concept of managed vineyard farms.
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Kailash Babar & Sobia Khan | ET Bureau
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Vikas Wadhawan
The Economic Times
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