Interest rate hike has not deterred most home buyers: survey
Real Estate

Interest rate hike has not deterred most home buyers: survey

Nearly 70 per cent of the developers in the Delhi National Capital Region (Delhi-NCR) have seen no impact on housing demand from the recent hike in interest rates on home loans, according to a survey by realtors' body CREDAI.

In a survey conducted between June 21 and June 30 by CREDAI-NCR, around 68 per cent of respondents said there has been no impact on demand from the recent increase in home loan lending rates, while 27 per cent suggested marginal decrease in sales/enquiries. Addressing a press conference, CREDAI-NCR President Manoj Gaur said there has not been much impact on housing demand following the RBI's decision to hike the repo rate by 90 basis points in two tranches, even though banks immediately hiked the interest rate on home loans after the RBI's move.

Gaur rued that the banks do not pass on the benefit with similar promptness when there is a decline in repo rate. CREDAI-NCR General Secretary Gaurav Gupta said 82.5 per cent of developers plan to launch new projects this year. Over 76 per cent of respondents prefer to launch housing projects. Nearly 50 per cent want to bring affordable housing projects in the price range of Rs 3,000-5,000 per square foot.

Also Read:
RBI rate hikes, higher costs fail to deter home buyers
Housing market shows YoY increase of 3-9%


Nearly 70 per cent of the developers in the Delhi National Capital Region (Delhi-NCR) have seen no impact on housing demand from the recent hike in interest rates on home loans, according to a survey by realtors' body CREDAI. In a survey conducted between June 21 and June 30 by CREDAI-NCR, around 68 per cent of respondents said there has been no impact on demand from the recent increase in home loan lending rates, while 27 per cent suggested marginal decrease in sales/enquiries. Addressing a press conference, CREDAI-NCR President Manoj Gaur said there has not been much impact on housing demand following the RBI's decision to hike the repo rate by 90 basis points in two tranches, even though banks immediately hiked the interest rate on home loans after the RBI's move. Gaur rued that the banks do not pass on the benefit with similar promptness when there is a decline in repo rate. CREDAI-NCR General Secretary Gaurav Gupta said 82.5 per cent of developers plan to launch new projects this year. Over 76 per cent of respondents prefer to launch housing projects. Nearly 50 per cent want to bring affordable housing projects in the price range of Rs 3,000-5,000 per square foot.Also Read: RBI rate hikes, higher costs fail to deter home buyers Housing market shows YoY increase of 3-9%

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000