RBI rate hikes, higher costs fail to deter home buyers
Real Estate

RBI rate hikes, higher costs fail to deter home buyers

Sales of residential properties continue to witness month-on-month growth despite the recent surge in property prices due to the increase in cost of raw materials and the Reserve Bank of India increasing the repo rate twice during the quarter, according to leading real estate developers and brokerage firms.

According to an Economic Times report, experts said that following the outbreak of the Covid-19 pandemic, the perception of real estate investing changed. “Despite the increase in repo rate, affordability is at an all-time high. The real estate industry was in a downturn for a long time but now the cycle has turned. We believe the positive sentiment will continue,” Mohit Malhotra, managing director and CEO Godrej Properties Ltd, told the newspaper.

According to Motilal Oswal Financial Services Ltd, despite a sharp recovery in demand in the past two years, prices have remained broadly flat this time, thereby limiting the impact on affordability.

“We continue to witness month-on-month increase in sales volume,” said Sanjay Dutt, managing director and CEO, Tata Realty & Infrastructure Ltd.

The setting up of the Real Estate Regulatory Authority (RERA) has also improved builder-buyer sentiment, which is now on the positive side, as well as easing the overall loan process and buying journey.

Also Read:
PNB Housing Finance: Housing sector to grow in 5 years
Delhi-NCR housing market sales fall 19% in Apr-Jun


Sales of residential properties continue to witness month-on-month growth despite the recent surge in property prices due to the increase in cost of raw materials and the Reserve Bank of India increasing the repo rate twice during the quarter, according to leading real estate developers and brokerage firms. According to an Economic Times report, experts said that following the outbreak of the Covid-19 pandemic, the perception of real estate investing changed. “Despite the increase in repo rate, affordability is at an all-time high. The real estate industry was in a downturn for a long time but now the cycle has turned. We believe the positive sentiment will continue,” Mohit Malhotra, managing director and CEO Godrej Properties Ltd, told the newspaper. According to Motilal Oswal Financial Services Ltd, despite a sharp recovery in demand in the past two years, prices have remained broadly flat this time, thereby limiting the impact on affordability. “We continue to witness month-on-month increase in sales volume,” said Sanjay Dutt, managing director and CEO, Tata Realty & Infrastructure Ltd. The setting up of the Real Estate Regulatory Authority (RERA) has also improved builder-buyer sentiment, which is now on the positive side, as well as easing the overall loan process and buying journey.Also Read: PNB Housing Finance: Housing sector to grow in 5 years Delhi-NCR housing market sales fall 19% in Apr-Jun

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