RBI Keeps Repo Rate Unchanged at 6.5%: Real Estate Sector Welcomes Decision

New Delhi: The real estate sector has welcomed the decision of the Reserve Bank of India (RBI) to keep the repo rates unchanged at 6.5 percent. Following this decision, the real estate sector has once again received a boost after a slowdown last year. RBI's move is a welcome relief for everyone in the real estate sector, from homebuyers to real estate professionals.

Industry giants have welcomed RBI's decision. However, some developers were hoping for a rate cut due to the rising housing prices in most cities over the past year.

The RBI has decided to keep the policy rate unchanged for the seventh consecutive time. This means that there will be no immediate impact on home loan EMIs. Since the repo rate remains unchanged, banks are unlikely to adjust their lending rates anytime soon. This means that your EMI will remain the same for now.

The realty developers have expressed happiness over this decision by the RBI. The announcement by the RBI has been praised as a very commendable step. The decision to keep the repo rate stable amidst the consistent strong performance of the Indian economy is a good sign for the real estate sector. 

The figures for inflation are still a matter of concern. This decision by the RBI is a good balance. We hope that this step will help India in managing inflation, after which we will see the country moving into a low-interest rate regime. A reduction in the repo rate is needed as a relief for the affordable housing segment.

Manoj Gaur, MD, Gaur Group, and Chairman, CREDAI NCR

The decision of the RBI to keep the repo rate unchanged at 6.5% is a positive step towards reducing the financial burden on potential buyers. This decision will provide a significant incentive for potential buyers in the commercial sector to move forward with their property purchases. Certainly, RBI's decision will accelerate affordable and mid-range commercial projects.

Amit Modi, Director, ABA Corp, and President-Elect, CREDAI Western UP

Once again, the RBI has not made any changes to the repo rate, which is definitely beneficial for the real estate sector. This decision by the RBI will be beneficial for both investors and homebuyers. The decision by the RBI clearly indicates that the country's economy is consistently performing well. We are confident that with this stability, there will be an increase in the strength of the real estate sector, which is already breaking records.

Ajendra Singh, Spectrum Metro, Vice President (Sales and Marketing)

The RBI's decision to maintain the repo rate at 6.50% is a positive step towards reducing the financial burden on potential buyers. This decision will provide a significant incentive for potential buyers in the commercial sector to move forward with their property purchases. Certainly, RBI's decision will accelerate affordable and mid-range commercial projects.

Pradeep Aggarwal, Chairman, Signature Global (India) Limited

The RBI has once again maintained the repo rate at 6.5%, which has been stable for the past 12 months. This rate has been a focus of the real estate sector for a long time. By keeping rates stable, there is a renewed enthusiasm and confidence among potential buyers, as well as a boost in the sector's confidence. As the festive season approaches, this sector will encourage buyers to invest in both residential and commercial sectors.

Prateek Mittal, Executive Director, Sushma Group

The RBI's decision to keep the repo rate at 6.50% unchanged is a welcome step. This step will be beneficial for the real estate sector, as it will increase the confidence of potential buyers and developers in the industry. The RBI's decision will provide relief to both potential buyers and developers.

Gurpal Singh Chawla, MD, Trevoz

The Indian real estate sector has been strengthening over the past few years. The RBI's decision to maintain the repo rate at 6.50% will benefit this sector. Sales in the premium and luxury segments have been seen in the past few years. Buyers are investing in the luxury housing sector, which will launch new projects in this segment. Keeping in mind the upcoming festive season, we hope that this decision will benefit luxury real estate.

Vikas Bhasin, CMD, Saya Group

The RBI's decision to keep the repo rates unchanged at 6.50% is a welcoming step. This step is a positive move for developers and potential buyers who are interested in investing in this sector. The government is quite aware of the sentiments and expectations of buyers and is taking favorable decisions for this sector, which is boosting its development.