Business
Banks raise lending rates: Here’s what realty experts have to say
Close on the heels of the Reserve Bank of Indias (RBI) recent hike in repo rate by 40 basis points, besides giving indications it would raise further in the upcoming monetary policy review meets, several Indian lenders too have raised their lending rates.
On Wednesday, lending major HDFC and PNB Bank raised their lending rates by 5 basis points and 15 basis points, respectively.
The upward revision in rates will essentially lead to an increase in EMIs for borrowers.
Recently, the State Bank of India (SBI) and Bank of Baroda also hiked their lending rates across various tenures, as per reports.
At the same time, the government also waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry. Steel is a key input for the real estate industry.
Here’s what some of the developers and domain experts have to say on the impact of rate hike on the realty sector and its demand:
Vivek Rathi, Director, Research at Knight Frank India
An increase in home loan interest rate by 1 per cent reduces house purchase affordability by 7.4 per cent. We are on a landscape of rising interest rates and increasing property prices, which will put pressure on affordability if they move beyond income growth.
At the current juncture, strong income growth is supportive of homebuyer affordability. Hence, a comfortable affordability level coupled with the renewed enthusiasm for home ownership shall help maintain the strong housing sales momentum in the near term.
Dharmesh Shah, CEO of Hero Realty
The retail buyers in the home segment have seen an incredible increase post-pandemic. Despite an increased interest rate the market is expected to be buoyant but this increase has come at the wrong time.
The home buyer segment needs a pat on the back and not an increase in the interest rates. However, this also considerably marks a sense of stability as the end of low-interest rates will bring the serious buyers back in focus.
Sanjay Sharma, Director, SKA GROUP
At a time when the real estate sector had just begun to pick up, the increase in home loan interest rates, even though negligible, would act as a psychological barrier for the buyers. Coupled with the increase in input costs that to an extent had forced the developers to increase in prices, it would act as a dampener to the buyer’s spirit, especially the ones looking for homes in the affordable segment.
Nayan Raheja, Raheja Developers
The increase in interest rates by banks could not have come at a worse time. With buyers shaking off the negative spirits of the pandemic and seeking to benefit from the historic low costs of the dwelling units as well as historic low home loan interest rates, the move by the banks would definitely have an impact on buyers’ sentiments. Further, it will affect the real estate sector that had begun to pick up pace after a gap of two to three years and which among others is one of the largest generators of employment. Most of all it will also signal that the days of low home loan interest rates are over.
Sachin Gawri, CEO and Founder Rise Infraventures Limited
The news of interest rate hikes by the banks especially after RBI had raised the base rates were a foregone conclusion. However, I wish that the banks had waited for a few more months for this series of hikes. At least it could have waited for the real estate sector to pass on the benefits of the reduction in fuel prices and the decrease in the price of iron (through hike in export duty) to the customers. The move will also affect the development of the commercial and retail segments.
Deepak Kapoor, Director of Gulshan Homz
The current hike in home loan interest rates by banks will surely convey to home buyers that interest rates are only going to go northwards. Contrary to the popular perception that any such increase only affects the affordable housing segment, the move, according to me, will also leave a big impact in the big-ticket luxury segment that involves high volumes of money, hence higher EMIs and higher interest amount. Besides, since one of the banks had increased its RPLR three times in one month, the move will also add to the uncertainty regarding the quantum of hikes in the future.
Business
Tesla rolls out Halloween Mode for ‘Model Y’ in India

Tesla India on Friday said it launched a new software update for Model Y and Model Y L vehicles that adds a range of Halloween-themed features, highlighting the company’s over-the-air (OTA) software update capabilities.
According to the Elon Musk-backed firm, the update allows Tesla vehicles to receive new features and improvements remotely without requiring a visit to a service centre.
Halloween Mode includes a ghost-themed vehicle avatar, Halloween sound effects, special lighting sequences, seasonal vehicle wraps and a themed lock sound, it said.
The update also introduces a ‘Trick or Treat Mode’ which activates sound and lighting effects when visitors approach the vehicle.
Other features include a photobooth function and a voice messaging feature that allows users to speak through the Tesla app and have the vehicle relay messages, the company said.
Tesla said customers can experience the new features at its Experience Centres across India.
The company currently operates those centres in Noida, Delhi, Gurugram, Chennai, Hyderabad, Bengaluru and Mumbai and has approved collision centres in Pune and Ahmedabad.
Earlier in October, Tesla CEO Elon Musk showcased a new version of the Roadster sports car with a prototype briefly lifting off the ground during a demonstration at a SpaceX facility in Texas.
A post on X shared by Musk showed the vehicle navigating an elevated curved track before becoming airborne for a short distance and landing safely, drawing comparisons to a flying car.
The showcase highlighted a specialised propulsion system that combines the electric vehicle platform with high-pressure air tanks and thruster technology.
According to Tesla, the system can generate lift and improve vehicle dynamics through strategically placed thrusters that help control movement while off the ground.
The test prompted enthusiastic reactions from company executives, who described it as evidence that flying-car technology is moving closer to reality. Tesla, however, did not provide a timeline for commercial deployment.
Musk said the vehicle would remain practical for everyday use, although he acknowledged that road legality could depend on local regulations.
Business
Maha CM directs development of state-of-the-art digital platforms for aggregator companies

Maharashtra Chief Minister Devendra Fadnavis on Thursday directed the transport department to build a state-of-the-art digital platform to provide real-time information on aggregator companies’ vehicles, drivers, and working hours, aiming to make app-based passenger transport services in the state safer, more transparent, and well-organised.
He instructed that this platform should integrate Artificial Intelligence (AI)-based analytics to maintain effective control over vehicle operations, driver dispatch, parking management, and passenger services.
CM Fadnavis gave these instructions during a meeting concerning the Maharashtra Aggregator Rules-2026. The review covered the growing number of vehicles in the aggregator sector, the challenges faced by independent taxi drivers, passenger safety, and transparency in ride allocation on digital platforms. Transport Minister Pratap Sarnaik, Additional Chief Secretary (Transport) Sanjay Sethi, Transport Commissioner Rajesh Narvekar, and other transport department officials were present.
The Chief Minister directed that complete digital details must be available for every vehicle operated by aggregator companies. This includes registration, assigned parking locations, driver profile, driving license, police verification, and other required documents.
Additionally, the system must maintain real-time logs indicating which driver is operating which vehicle across various shifts throughout the day. In the event of an incident, a robust mechanism should ensure that details regarding the vehicle and driver are immediately accessible.
By leveraging artificial intelligence on this platform, the system will analyse vehicle operations, driver shifts, and other critical parameters. This will allow regulatory authorities to monitor compliance with rules and enable prompt action whenever necessary, he said.
CM Fadnavis highlighted the need to verify whether independent taxi drivers and large fleet management companies receive equal opportunities when rides are allocated on app-based transport platforms.
He noted that it is essential to audit the criteria and reasons based on which specific vehicles are assigned rides on digital platforms. He directed officials to utilise technology to detect any bias or unfair discrimination in ride allocation algorithms.
The Chief Minister stressed that while passengers must receive safe and reliable service, local drivers must also get equal employment opportunities.
To achieve this, priority must be given to effective enforcement of rules, transparent ride allocation, and technical oversight of aggregator operations.
In light of the expansion of the state’s aggregator sector and growing passenger needs, he directed the Transport Department to develop an efficient, technology-driven regulatory framework that balances the interests of independent taxi drivers, passenger safety, and overall traffic discipline.
Business
Nifty, Sensex post early mild gains despite mixed global cues

The Indian equity markets opened with mild gains early on Thursday despite mixed global cues and elevated crude prices.
As of 9.25 am, Sensex added 168 points, or 0.23 per cent, to reach 73,414 and Nifty gained 45 points, or 0.20 per cent, to reach 22,744.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 gained 0.25 per cent, and the Nifty Smallcap 100 added 0.13 per cent.
Sectoral indices on NSE traded mixed with gains led by Nifty IT, up 0.80 per cent and pharma, up 0.30 per cent. Nifty private bank and media were among top losers, down 0.18 per cent and 0.16 per cent, respectively.
The opening gain of benchmarks may remain selective unless the Nifty decisively crosses 22,800, as the Federal Reserve’s policy message, elevated crude and high US bond yields continue to restrict broader risk-taking, an analyst said.
Brent crude remains elevated near $114.50 a barrel amid persistent geopolitical uncertainty, keeping energy costs high and leaving oil-sensitive sectors exposed to sustained cost pressures.
The Federal Reserve kept its policy rate unchanged, but two members voted for an increase, and markets raised expectations of another hike in December. The US 10-year Treasury yield consequently moved to around 5.02 per cent, indicating that the policy pause has not materially loosened global financial conditions.
Unless yields stabilise below recent levels, dollar assets may continue competing with emerging markets for capital and limit the durability of foreign inflows into India, market participants said.
In the previous session, Nifty closed at 22,698, down 0.22 per cent, after a recovery was capped by profit booking. Immediate support is placed at 22,600–22,650, while resistance is seen at 22,850–22,900.
In the previous session, Bank Nifty closed at 54,267, up 0.54 per cent. Immediate support is placed at 53,800–54,000, while resistance is seen at 54,600–54,800.
In Asian markets, China’s Shanghai index declined 0.82 per cent, and Shenzhen dipped 2.48 per cent, Japan’s Nikkei added 0.28 per cent, and Hong Kong’s Hang Seng Index advanced 0.06 per cent. South Korea’s Kospi lost 2.72 per cent.
The US markets ended in green overnight as Nasdaq added 0.27 per cent, S&P 500 gained 0.28 per cent, and the Dow Jones inched up 0.19 per cent.
On October 28, foreign institutional investors (FIIs) net bought equities worth Rs 872 crore, while domestic institutional investors (DIIs) bought equities worth Rs 643 crore.
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