Dear friend i'm a consultant, im very much with the govt. in this issue..when the interest rates is lower people want to take maximum loan from the bank..then dont even bother abt the policies and they took loan equal to there monthly salary..(as per the RBI policy max 50% of the monthly salary is permissible)and if we regreat to do so they go to other bank and that way they manuplate with the bank... and when the rates goes high they went in to problem. the other thing is that you are asking govt. abt the rate increase but you forgot to take into account the prizes of the properties.. i have take a banglow 2 years back in banglore.. last week i have take its possession.. when i took it cost me 17.5 lac. and today it costs 52 lac. so in 2 years with higher rates i paid nearly 4 lac to bank and today if i repay loan i can get more than 35lac. with me sO WHY DONT WE BLAME UPA GOVT FOR THE RATE HIKE IN property market.
