Keeping the upcoming festive season in mind, the stability in interest rates will not increase the burden of loan interest, which will enhance people’s interest in real estate projects. As there has been no change in the repo rate for more than a year, buyers can continue investing in property without the fear of rising loan interest rates.
Important decisions have been made in the 51st Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI). RBI Governor Shaktikanta Das announced today that there has been no change in the repo rate. This means that there will neither be an increase nor a decrease in your loan EMIs. This marks the tenth consecutive time that the RBI has kept the repo rate steady at 6.50%.
Signature Global (India) Limited’s Founder and Chairman, Pradeep Aggarwal, stated that the RBI has decided to maintain the status quo as expected, as it is crucial for keeping inflation under control. Although the recent rate cut by the US Federal Reserve has raised expectations in India, it is clear that our central bank is focused on controlling inflation.
Nayan Raheja of Raheja Developers mentioned that the Reserve Bank of India has once again kept the repo rate stable, maintaining the pace of growth. By indicating a neutral stance, the RBI has made it clear that the repo rate may decrease in the future. Considering the upcoming festive season, this stability will prevent an increase in loan interest rates, which will boost people’s interest in real estate projects. Since there has been no change in the repo rate for more than a year, buyers can continue investing in property without the fear of rising loan interest rates.
Sandeep Chhillar, Founder and Chairman of Landmark Group, stated that maintaining the repo rate at 6.5% for the tenth consecutive time is a significant support for the real estate sector in the current positive market environment. Demand in the residential sector is at its peak, and during the festive season, we expect new records in housing sales. With loan rates remaining stable, the number of potential homebuyers will increase, allowing the sector to grow steadily and reach new heights.
Sanjeev Arora from Director 360 said that the real estate sector has been closely watching the RBI’s decision to keep the repo rate at 6.5% for the past few months. As a result of this stability, potential buyers are feeling more confident and excited, which is encouraging investment in both the residential and commercial sectors, especially with the festive season approaching.
Kushagra Ansal, Director of Ansal Housing, believes that the RBI’s decision to keep the repo rate stable will have a positive impact on the housing market. Although housing costs are rising, stable home loan rates provide much-needed relief to potential buyers. This stability benefits both buyers and developers by boosting consumer confidence and encouraging investment in the sector.
Gurpal Singh Chawla, Managing Director of Trevok, stated that the RBI’s decision to maintain the repo rate is excellent, especially during the festive season. This stability not only increases the confidence of homebuyers but also gives banks the opportunity to offer better loan options, making home purchases easier during this auspicious time.
