Marginal blow on rate hike being experienced by Bangalore Realty

Bangalore is one of the Top cities for attractive real estate investment when compared with New Delhi, NCR, Mumbai and Hyderabad.  People across the country prefer this city to be their home town for many reason like globally known IT hub, favorable climate condition, greener scenarios and multicultural environment. Many IT professionals and business class people are interested to invest on a property in Bangalore

Currently Reserve Bank of India (RBI) has hiked repo rate to control economic fluctuation in the country. It is badly impacted to the loan systems of many banks especially to home loans. The real estate market across many cities of India has affected by this hike. People lose interest on purchasing the properties. Many realtors and builders feel unsecure with their business in the coming days. Again the economic slowdown in the country has also impacted on real estate customers.

Despite all the difficulties in the Indian economy, Bangalore’s real estate market shows constant performance as before. According to Confederation of Real Estate Developers' Association of India (CREDAI) Bangalore President C N Govindaraju, RBI repo rate hike has no major impact on Bangalore real estate market.  He said that metro cities like Mumbai, New Delhi, NCR and Gurgaon have seen slowdown where normally real estate market is on overheat.

People believe in the quality of properties in Bangalore as it is a fast developing city. Industry officials say due to depreciation of Rupee value against dollar, NRIs are interested to invest in Bangalore.  They are pumping their money into the real estate sector in the country for a better return in the future.