India, Oct. 7 -- Housing sales could face some pressure during the upcoming festive season as the RBI's 25-basis-point repo rate hike is expected to push up home-loan borrowing costs, real estate industry bodies CREDAI and NAREDCO said on Wednesday.

At the same time, the two bodies said the impact on the residential property market was likely to remain limited, citing strong underlying demand, buyer sentiment and the festive-season momentum.

CREDAI National President Shekhar Patel said the repo rate hike should be viewed against the backdrop of global uncertainties and inflation concerns, while noting that monetary policy decisions would affect the cost and availability of funds.

"We are also entering the festive season, which is an im...