The real estate industry on Friday applauded the RBI’s decision to keep the importance of the policy, unchanged, saying the lower percentage would encourage buying sentiment and boost demand in particular. even in the coming festive season.
The Reserve Bank of India (RBI) made sure to keep interest rates unchanged at a record low as it chose to support the economic recovery rather than inflation. The reduction in spending by 250 basis points since February 2019 has resulted in a significant increase of 217 basis points in the financial burden (WALR) on new debt.
Commenting on international law, CREDAI National President Harsh Vardhan Patodia said: “At the beginning of the second wave and the fear of the third wave, the RBI defense stopped when the price of the swamp by 4 percent reflects the continuation of its viable position. low prices to finance business in other sectors. “
Naredco President Niranjan Hiranandani said the lower interest rate would increase the sentiment of the home buyer, and make it easier to raise funds to buy negotiations behind the benefits.
“Also, if regulators can extend the use of credit to suspended projects by approving some SWAMIH funds; it will go a long way in re-establishing the long-lasting retail store and ensuring it is approved by consumers, ”he added.
Along with the regulators, Bengaluru-based Puravankara Ltd MD Ashish R Puravankara said the continued position of the RBI to maintain the REPO change had been the reason for the renewal of the land sector. “Lower interest rates helped support home buyers’ interest in the residential sector, positively hurting overall demand in the last two quarters.”
Gurugram-based Experion Developers CFO Atul Bansal said the RBI rule will continue to support the low-interest environment. He hoped that the banks would give the benefits of lower interest rates and default to his forward loans to the sector.
The Chairman of Anarock, Anuj Puri, said: “The unchanging of the swamp rate, which is beneficial for home lenders, because the loan rate, has been at its lowest level in the last twenty years. The continuation of this low-interest rate management to support the environment of affordability has become the new hallmark of the marketplace – during the epidemic, and even beyond. ”
Vikas Wadhawan, Group CFO, Housing.com, and PropTiger, said the decision is very good for the business in general and home buyers in particular since the low-interest rate management will enable more buyers to invest in their assets.
Square Yards Co-founder and CFO Piyush bothra said the RBI’s decision to maintain the swamp status quo is a strong signal of significant growth. Rising interest rates will benefit home lenders and keep home sentiment like the second wave, he said.
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Home buyers should definitely make the most out of the lower interest rates.