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Real estate, auto companies to bear the brunt of interest rate hikes

Niranjan Hiranandani, managing director of Hiranandani Group, said the RBI had to ensure that inflationary pressure on the individual did not get exacerbated by higher rates on home loans

Topics
Real Estate  | automobile industry | RBI monetary policy

Raghavendra Kamath & Dev Chatterjee  |  Mumbai 


Real estate and automobiles, which were showing signs of a nascent recovery, will bear the brunt of higher interest rates following the central bank’s rate hike because customers will delay buying new homes and cars.

Real estate developers fear home loan rates, currently between 6.6 and 6.9 per cent for top lenders, will rise. Niranjan Hiranandani, managing director of Hiranandani Group, said the Reserve Bank of India (RBI) had to ensure that inflationary pressure on the individual did not get exacerbated by higher rates on home loans. “Inflation rates in India have been ...

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First Published: Thu, May 05 2022. 01:25 IST

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