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The increase in repo rate is going to have some downside on the real estate sector in a stressed environment that is already plagued by slowdown in sales, increasing input costs, liquidity issues and high costs of capital, Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield, said.
“Today’s review of monetary policy would have disappointed most people as many were looking at the new RBI Governor to make radical economic changes. However, high expectations from the new RBI Governor Raghuram Rajan to provide all the solutions to the ailing Indian economy are grossly misplaced and unrealistic,” he said.
The Governor has stuck to his mandate of managing the monetary risks which continue to be highly prone to inflationary and currency devaluation risks.
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