What's really unfortunate is that the proposed hike in circle rates is untimely as it comes ahead of the festive season. It may be mentioned that due to unreasonably high home prices, residential sales have been consistently falling since the September 2024 quarter. So much so that even the last festive quarter (October-December 2024) could not stem this decline. Now that after the cumulative 100 bps cut in repo rate, the buying sentiment was looking up, further increase in property prices due to upward revision in circle rates, will dampen the spirits of homebuyers.