1. Shrinivas Rao, FRICS, CEO, Vestian
“Despite headline inflation being out of the central bank’s comfort zone in July and August 2023, it maintained status quo and kept repo rate unchanged at 6.5%. This move showcases RBI’s confidence in the market and anticipation of moderating headline inflation in the future. We anticipate both real estate demand and supply to sustain its ongoing momentum on the back of stable market conditions. However, uneven distribution of monsoon and its adverse effect on Kharif Crop planting may pose a challenge to curb inflation. This may lead to a prolonged tighter monetary policy, which in turn will impact real estate activities.”
2. Vimal Nadar, Senior Director & Head of Research at Colliers India
On anticipated lines, RBI has continued to maintain the status quo on benchmark lending rates for the fourth consecutive time. A steady repo rate of 6.5% since February, has been providing relief for EMI-dependent homebuyers, especially in these times of elevated inflation levels. With developers likely to bring in festive offerings in the next few months, a stable financing environment will drive housing sales across categories. Overall festive tailwinds, the accommodative stance of RBI and ongoing freebies offered by various financial institutions & developers will keep the momentum in the residential segment strong for an upbeat 2023. Fence sitters and first-time homebuyers are likely to remain highly active across residential hotspots of major Indian cities.
3. Mr Amit Sarin, Managing Director, Anant Raj Limited
Holding of interest rate at the same level in monetary policy is a welcome move and this move will help in a sustained recovery in economic growth which country is witnessing. Needless to say, the housing and the real estate sector stand to benefit from the decision. The demand for residential dwellings is expected to remain robust in the coming quarters. The borrowing cost for the corporate too would remain at a reasonable level, which will be beneficial for the economy as corporate will have the leeway to continue to undertake capital expenditure and investment.
4. Mr. Mohit Jain, Managing Director, Krisumi Corporation
RBI's decision to maintain the status quo on the interest rate augurs well for the housing sector and the real estate sector as a whole. Amid the festive season, the demand for housing particularly mid and luxury housing - is expected to remain robust over the next few months. The ever-increasing inclination towards buying cozy and comfortable living spaces will further get stronger in the near future
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