Reaction from Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and Proptiger.com on increased repo rate as a result of the RBI MPC meeting 

New Delhi, August 10, 2022: “The RBI on August 5 increased the repo rate by 50 basis points to bring it to pre-pandemic levels. This is not entirely surprising as this is to address concerns around inflation and the declining value of the rupee.

The new rate, which is 5.40%, will ultimately impact the cost of borrowing for India’s homebuyers. However, it is also pertinent to note that past rate hikes and the consequent increase in home loan rates have so far not had any discernible negative impact on the burgeoning demand for homes. We believe that positive buyer sentiment coupled with the renewed interest of investors in residential real estate will cushion some of the adverse impacts of the rate hike.”

Corporate Comm India (CCI Newswire)