Real estate sector opposed hike in repo rate

By Accommodation Times (

In the current fiscal year Reserve Bank of India several times have announced hike in repo rate which has been strictly criticized by the top builders of the country. According to the large number of real estate market experts predicted that the constant rise in repo rate will ruin the market and will put them through hard time. Every year realty sectors contributed a huge sum of money towards the growth and development of the economy and this hike will make lessen the profits of the developers. The repo rate is the rate at which other banks borrow from Reserve bank of India. Market experts said that, hike in repo rate will put the negative impact on property market, hike will increase the cost of housing finance due to this customers who are already burdened with home loan will not engage in new property deals.

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