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Does Repo Rate Pause Mean Good Times for the Real Estate Sector? | ||
Delhi | NCR, India The Reserve Bank of India (RBI) declared that the repo rate, which remains at 6.5% from the most recent review meeting, has not changed for the first time in the previous 12 months. The RBI has kept the repo rate at its current level. The real estate industry has praised the RBI's shift to a more accommodating posture as a "commendable" action. In the face of rising house loan mortgage rates and property prices, investors who had placed property investments on the back burner would perceive a glimmer of hope that would spur them to action. Let's examine each real estate expert's response to the RBI statement individually.
RBI Repo Rate
Rajesh K Saraf, MD, Axiom Landbase, said, "We welcome the decision taken by the RBI to halt raising the repo rate again. This decision is a landmark action considering the steeply high home loan mortgage rates, which have become a cause of ire for homebuyers and real estate investors. This is a huge institutional support to revive housing demand and motivate homebuyers to invest in property markets."
Mr. Pankaj Kumar Jain, Director, KW Group
Mr. Sanchit Bhutani, Managing Director, Grandthum
Mr. Anand Shukla, Managing Director, Ocean Infraheights Pvt. Ltd.
Mr. Ajendra Singh, VP-Sales and Marketing, Spectrum Metro
Deepak Kapoor, Director, Gulshan Group
Ashwinder R Singh, CEO-Residential, Bhartiya Urban The real estate sector has welcomed the RBI's decision to maintain the current repo rates. Nonetheless, the majority also anticipates that RBI will subsequently lower the repo rate to bolster the housing market and real estate investment climate. The RBI is expected to significantly boost both residential and commercial real estate investments. |
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