RBI rate cut: No major impact on home sales, say experts

June 06, 2018 18:01

The Reserve Bank's rate hike will not have a major impact on home sales, which has seen a revival in the past few months, say experts. The apex bank for the first time in over four years raised the repo rate, or the short-term lending rate, by 0.25 per cent to 6.25 per cent, on inflation concerns arising from surge in oil prices.

Naredco national president Niranjan Hiranandani said the hike is justified on account of inflationary trends, global hardening of interest rates as also petroleum prices moving upwards. "It will not make a major difference to real estate. However, in the long run, we would prefer rates coming down," he said. -- PTI

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