Several industry experts said on Friday that the Reserve Bank of India’s (RBI) decision to keep key interest rates unchanged bodes well for the real estate sector as it will further improve consumer confidence.
Aditya Kushwaha, CEO and director of Axis Ecorp, said keeping rates unchanged will encourage more buyers to invest in secure assets like real estate. “For the coming season, real estate players we look forward to launching new projects.”
Vinit Dungarwal, director of AM Project Consultants, said keeping interest rates unchanged is a welcome decision as it will help create demand. “For the real estate sector to experience a solid S2, the low interest rates offered should preferably continue until the end of the year.”
Sandeep Runwal, Managing Director of Runwal Group and President-elect of NAREDCO Maharashtra, said that in addition to low interest rates, consumers’ realization of home ownership as well as reduced stamp duties in key markets have been growth engines for the real estate sector in recent quarters. .
He said strong demand is expected to continue to move forward.
Vikas Wadhawan, chief financial officer of Housing.com Group, Makaan.com and Proptiger.com, said the RBI’s move bodes well for the real estate industry in general and homebuyers in particular.
“A record high interest rate regime will allow a large number of home buyers to invest in real estate. As homebuyer’s sentiment has already improved in recent times, the RBI’s decision will prompt buyers to invest in real estate. buyers and investors to invest their money in secure assets like real estate. “
HDFC Bank chief economist Abheek Barua said the RBI has continued its growth support line despite recent spikes in inflation.
“Acknowledging concerns about inflation and the excessive build-up of systemic liquidity over the past month (at Rs 8.5 lakh crore as of August 4), we have seen the central bank take its second step towards liquidity normalization .
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