Expectation on RBI Monetary Policy By Mr. Pradeep Aggarwal, Signature Global
Below is Expectation on RBI Monetary Policy By Mr. Pradeep Aggarwal, Founder and Chairman, Signature Global
Over the past three quarters, the interest rate on home loans has risen to over 9%, representing a 40-50% increase from the historical low of 6.5% per annum. As a result, many home loan borrowers are feeling the impact of this significant increase in interest rates. Although there hasn't been a significant impact on housing demand so far, any further increase in policy rates could push the home loan interest rate beyond the psychological barrier of 10%, which could have a substantial impact on buyer sentiments and affordability.
To mitigate the loss caused by the increase in interest rates, not only should the government restrict any further increase in home loan interest rates, but it should also encourage state governments to provide rebates on stamp duty
Above views are of the author and not of the website kindly read disclaimer
