The Reserve Bank of India on Wednesday announced to Jack up he interest rates by 4.40 percent and the Cash Reserve Ratio by 50 basis points to 4.50 percent
TheRBI Governor shaktikanta Das cited rising inflation as the reason behind this move.
The surprise rate hike announced by the Reserve Bank of India on Wednesday has made the real estate industry nervous.
Ashish R Puravankara, MD said we are hopeful that if there is a rise, the financial institutions will increase.
The rates in a phased manner to help minimise the imact on homebuyers.
The State Government which is the largest beneficiary of housing demand come forward to support
the home buyers by reducing stamp duty rate to 3%.