RBI keeps interest rates steady, boosting real estate confidence


The Reserve Bank of India (RBI) has opted to maintain current interest rates, aiming to sustain momentum in the real estate sector amid recent election outcomes. This decision is expected to bolster confidence among homebuyers and investors, making home loans more accessible. Industry experts from NAREDCO Maharashtra, CREDAI-MCHI, Tridhaatu Realty, CCI Projects, Prescon Group, Siddha Group, and Satellite Developers Private Limited (SDPL) commend RBI's stance, emphasizing its role in maintaining economic stability and fostering growth in the real estate sector. The decision is viewed positively, with expectations of increased market confidence and housing demand.

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The Reserve Bank of India (RBI) announced today its decision to maintain current interest rates, a move that is anticipated to sustain the ongoing momentum in the real estate sector. This announcement comes at a crucial time, especially in light of the recent election outcomes. The decision to keep borrowing costs low is expected to bolster confidence among homebuyers and investors, making home loans more affordable. Here's what experts from the real estate industry have to say about the RBI's decision:

Mr. Prashant Sharma, President, NAREDCO Maharashtra

"We welcome the RBI's decision to maintain its current policy rates amidst the backdrop of volatile food prices, ongoing geopolitical tensions, and the Federal Reserve's extended pause on interest rates. Looking ahead, it is crucial for the RBI to continue monitoring the evolving economic landscape, particularly in the aftermath of the Lok Sabha elections and the upcoming Union Budget."

Mr. Pritam Chivukula, Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty

"Post the Lok Sabha elections and as we anticipate the Union Budget next month, it is crucial for the central bank to closely monitor the evolving economic policies. We appreciate the RBI's continued commitment to maintaining economic stability and look forward to seeing how these developments will shape the economic environment in the coming months."

Mr. Rohan Khatau - Director, CCI Projects

"RBI's decision to maintain the policy rate is a prudent step, considering the current economic conditions and inflationary trends. We believe that the RBI's balanced approach will foster a favourable environment for the real estate sector, enabling sustained growth and stability."

Mr. Vedanshu Kedia - Director, Prescon Group

"We are particularly encouraged by the emphasis on maintaining liquidity and supporting financial institutions. These steps will contribute significantly to the sector's recovery and growth, enabling us to continue delivering high-quality housing solutions to our customers."

Mr. Samyak Jain, Director, Siddha Group

"The support for real estate is particularly encouraging, fostering growth and development in the sector. These steps will help in boosting market confidence and providing the necessary impetus for the real estate industry to thrive."

Mr. Himanshu Jain, VP - Sales, Marketing and CRM, Satellite Developers Private Limited (SDPL)

"The RBI's decision to maintain the key policy rates is a significant step towards fostering growth. The focus on maintaining liquidity and ensuring favourable lending rates will undoubtedly spur housing demand, benefiting homebuyers and developers alike."

The RBI's decision to maintain interest rates is seen as a positive step for the real estate market. While some experts caution that the long-term impact depends on upcoming economic policies, the current outlook is promising for affordable home loans and a potential rise in buyer activity.

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