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Friday, 06 Aug 2021
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Comments by Real Estate Experts on RBI Policy announcement

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Sandeep Runwal, Managing Director, Runwal Group, President Elect, NAREDCO Maharashtra
 
"The RBI has declared the accommodative policy stance amid the fears of the expected third wave of the pandemic yet again. It is imperative that low mortgage rates would continue for at least some more time now or maybe until the end of the year. This will provide the required fuel for the growth of the economy along with the real estate industry with which several other allied sectors are linked. Apart from the low-interest rates, the consumers' realization of owning a home along with the stamp duty cut in the key markets were the growth drivers for the real estate sector in the past few quarters and the strong demand is expected to continue going ahead."
 
Vinay Kedia, Director, Prescon Group
 
"The RBI leaving the key rates unchanged was very much expected as the slow easing of localized lockdowns, slow pace of vaccinations and the looming threat of another wave continue to hinder economic revival. Although the low interest rates will provide a sustained growth for the real estate sector, the developer's focus on the completion of projects and overall economic recovery will be the key factors driving the real estate demand going forward. The homebuyers should take advantage of the current situation because there are chances that the prices might go upwards later on account of reducing supply and the pressure of increased costs of raw materials such as steel and cement.”
 
Himanshu Jain, VP - Sales, Marketing and CRM, Satellite Developers
 
‘’Repo rate cuts have been kept unchanged time and again by the RBI during the last few quarters to keep the economy of the country afloat amidst the pandemic. Maintaining an accommodative stance indicates the RBI will intervene to provide the right push and direction to growth whenever necessary. The current scenario offers excellent investment opportunities in the residential segment as affordability is at all-time high. We require support from the banks by providing adequate liquidity that will boost the real estate sector."
 
 
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