Bankers and market experts said the March quarter has been slower than before, as rising interest rates made potential borrowers wary. The Reserve Bank of India (RBI) has raised its repo rate-the benchmark for most home loans taken since October 2019 - by 250 basis points (bps) since May last year to quell rising prices.
The regulator is expected to raise rates by another 25 bps when its rate-setting committee meets later this week, which would make loans pricier.
"Customers are anxious about the rate increase and are postponing their decision to buy new homes," a public sector bank official said on condition of anonymity.
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