RBI increasing interest rate by 50 basis points an expected move : Gopalkrishnan

Insight Online News

Kolkata, Sep 30 : The RBI increasing the interest rate by 50 basis points was an expected move to combat the inflationary growth in the country, opined Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate, on Friday.

” This move might impact the home loan category, which may influence the buying sentiments of affordable to mid-segment home buyers. While we may not witness a great upward trend given the current scenario, we have seen good business in recent times, which is likely to continue, ” he said.

” Though inflation is high, with the government’s initiatives to control it, our industry should be able to move forward. Overall, in comparison to the global trend of inflation, the real estate sector is hopeful that this rate hike will not completely dampen the buying sentiment, ” he added.

” Additionally, the ongoing festive season is likely to bring in some positive movement as homeownership remains important for home buyers and will eventually result in sales, especially in the luxury and premium categories. With developers offering various schemes, we believe that now is the time for homebuyers to take advantage of these benefits, ” he stated.

UNIINDIA

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