Rising home loan interest rates have made it harder for first-time homebuyers to save up for the down payment, says Anuj Sharma of IMGC
Increasing home loan interest rates in India have had repercussions on the demand for such loans. They have augmented borrowing costs, resulting in higher monthly interest payments for borrowers. Consequently, this has decreased affordability and reduced loan eligibility for prospective borrowers, especially first-time homebuyers. “It is advisable to choose a property that fits one’s budget
