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Low interest rates foster housing demand—Real estate upbeat over RBI stand

The Indian real estate sector showered praise on the RBI stand to keep the interest rates unchanged at 4 percent. As reported in this moneycontrol.com story, Ramesh Nair, CEO, India at Colliers says—“Several banks have lowered their home loan rates by a stable repo rate since September 2021. Overall, it is a good time for homebuyers who can avail of low home loan rates, along with steady prices.”

Being a festival season, the housing sales are generally positive in this time and this is why the real estate owners—builders and investors launch exciting offers to leverage the home buying sentiment.

Shishir Baijal, Chairman and Managing Director, Knight Frank India says—”We welcome the RBI’s move to keep rates unchanged despite the inflationary pressures, as adequate liquidity, and stable repo rate will play a catalytic role in the robust recovery of the country’s housing sector.”

The pandemic has changed the customers’ home buying preferences as they are searching and selecting a new home with different priorities. The Indian real estate developers and the residential projects owners are happy to see that RBI’s stand on the benchmark interest rates further helps the customers as well as the builders.

Many housing societies are growing fast on the Mohali Airport road, and this festival season and the RBI’s stand on interest rates is a great news for the local real estate market.

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