Realty companies on Thursday welcomed the decision of the Reserve Bank (RBI) not to change the policy rate repo rate.
Realty companies on Thursday welcomed the decision of the Reserve Bank (RBI) not to change the policy rate repo rate. On behalf of the companies, it was said that the demand for residential properties will remain strong due to the availability of home loans at low interest rates.
Providing cash will increase employment
Regarding the monetary policy of the Reserve Bank, Harshvardhan Patodia, president of CREDAI (Confederation of Real Estate Developers Association of India), the apex body of real estate companies, said, “The extra cash available in banks must be made available to the sectors. This will lead to economic revival and growth along with massive employment generation.
Advice on taking advantage of low interest rates
Niranjan Hiranandani, vice-president, autonomous self-regulatory body NAREDCO (National Real Estate Development Council), said, “The market remains favorable for home buyers in terms of housing loan interest rates.
However, the indications suggest that this ‘historic’ low interest rate will not continue for long. He has advised those interested in buying a house to take advantage of the low interest rate.
Great Opportunity for Home Buyers
Tata Realty & Infrastructure MD and CEO Sanjay Dutt said that with the decision to keep the policy rate unchanged, the current interest rates will remain in place. This will help home buyers to buy the house of their dreams at very low interest rates
. Anarock Chairman Anuj Puri said that monetary policy is good for home buyers. “By maintaining the low interest rate regime, buying a house for some more time will remain cheap in terms of loans. It has to be kept in mind that this situation will not last long and interest rates will increase soon.
Home buyers will get direct benefit
Sanjay Sharma, director of SKA Group, said that the Reserve Bank did not change the repo rate for the 10th time in a row. With this, the interest rates on the home loan will remain stable and once again the direct benefit will be given to the home buyers. This move will give a boost to the real estate sector.
Nikhil Anand, Director, Masters Infra, said the RBI move will help the commercial real estate sector. Spectrum Metro Project Head Sagar Saxena said that the RBI has kept the repo rate unchanged as expected. This move will help the commercial real estate sector recover from the third wave of the pandemic.
