Mumbai (Maharashtra) [India]Aug 6 (ANI): Several industry experts said Friday that the Reserve Bank of India (RBI) decision to keep key interest rates unchanged is favorable for the real estate sector to further improve consumer sentiment. He said there is.
Aditya Kushvaha, CEO and director of Axis Ecorp, said that without changing interest rates, more buyers will be investing in secured assets such as real estate. “Next season, realtors, including us, are looking forward to launching new projects,” said Vinit Dungarwal, director of project consultants at AM, because deferring interest rates helps create demand. He said that this is a welcome step. “For the real estate sector to enter the second half of the year, low interest rates must continue through the end of the year,” said Sandy Planwar, managing director of the Lanwar Group and president-elect of Maharashtra state. It is said how. Consumer perceptions of home ownership, along with declining stamp duties in key markets, have been driving growth in the real estate sector over the past few quarters.
According to him, high demand is expected to continue.
Vikas Wadhavan, CFO of Housing.com, Makaan.com and Proptiger.com, said RBI’s decision would benefit the real estate industry as a whole, especially home buyers.
“Record low interest rates allow many buyers to invest in real estate. RBI’s actions have given buyers and investors real estate and other secured assets as homebuyer sentiment has already improved recently. Abhik Baruah, chief economist at HDFC Bank, said RBI continues to support growth despite the recent surge in inflation.
“Recognizing concerns about inflation and excessive accumulation of systemic liquidity in the last month (Rs 8.5 as of August 4), the central bank has taken a second step towards normalizing liquidity.” ANI)
Real Estate Experts Welcome RBI Interest Rate Decisions
Link to source Real Estate Experts Welcome RBI Interest Rate Decisions