GURGAON: The real estate sector will be heavily impacted if the lending rates for home loans do not fall to a moderate level, said Mr KP Singh, Chairman of DLF.
Since March last year, the Reserve Bank of India
(RBI) has hiked the key policy rates (repo rate and reverse repo rate) by 11 times to curb inflation.
It has forced the banks to raise the lending rate significantly on home loan and also on loans to the developers.
, said, "It is not because of the global problem but the internal problem which is interest rate.
A sustained level of high inflation and interest rates have impacted economic growth and moderated the growth in our industry as well."
has said that the recommended central draft Land Acquisition Bill takes into account the compensation and the rehabilitation of the land owners.