ANAROCK Group Chairman Anuj Puri on RBI Policy
This story was originally published at 11:07 IST on 7 October 2026
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HYDERABAD - Anuj Puri, chairman, ANAROCK Group, said the following on the Reserve Bank of India's fourth bi-monthly monetary policy statement for 2026-27 (Apr-Mar), detailed Wednesday:
The RBI's 25-basis-point increase in the repo rate was expected because of the prevailing inflationary pressures and geopolitical uncertainty brought on by the Gulf conflict. The rate hike will put pressure on consumer sentiment and discretionary spending – this has a direct correlation to housing demand. The festive season is a key period for housing demand, and an increase in borrowing costs will affect buyer sentiment.
It is worth noting that residential prices in the top seven cities have already risen significantly, stretching affordability. As per Anarock Research data, average residential prices increased 7% year-on-year. With the rate hike, dearer home loans will make buyers more selective and cause decision timelines to extend, particularly in the price-sensitive segments. A modest increase in monthly instalments will result in deferred purchase decisions or budget recalculations among affordable housing buyers.
The rate hike is unlikely to have a direct impact on commercial real estate, which continues to be driven by structural demand from Global Capability Centres, technology spaces, banking and financial services sectors, and other occupier segments. However, retail real estate may see some near-term impact. Higher financing costs coupled with the possibility of softer festive consumption could make developers and investors more cautious. Some new mall projects could potentially be deferred until there is greater clarity on demand. End
Compiled by Narayana Krishna
Filed by Himanshi Gupta
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