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

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TheRBI Governor shaktikanta Das cited rising inflation as the reason behind this move.

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The surprise rate hike announced by the Reserve Bank of India on Wednesday has made the real estate industry nervous.

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Ashish R Puravankara, MD said we are hopeful that if there is a rise, the financial institutions will increase.

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The rates in a phased manner to help minimise the imact on homebuyers.

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The State Government which is the largest beneficiary of housing demand come forward to support

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the home buyers by reducing stamp duty rate to 3%.

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