RBI’s status quo fuels sustained growth in Real Estate

The Reserve Bank of India's (RBI) policy announcement today has significant implications for the real estate sector, particularly in the context of the recent election results. With a focus on maintaining economic stability, the RBI's decision to keep interest rates unchanged is expected to sustain the current momentum in the real estate market. Low borrowing costs will continue to make home loans affordable, thereby encouraging homebuyers and investors. Here is what real estate experts have to say on the announcement.

Prashant Sharma, President, NAREDCO Maharashtra
"We welcome the Reserve Bank of India'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. The policies and fiscal measures introduced next month will play a significant role in shaping the trajectory of our economy. A balanced and forward-looking approach will be essential to support sustained growth and stability in the real estate sector and the broader economy. We remain optimistic that the RBI, with its vigilant and adaptive stance, will continue to foster an environment conducive to economic resilience and development."

Pritam Chivukula, Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty
"We would like to commend the Reserve Bank of India (RBI) for its prudent and cautious approach amidst the current economic landscape. 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. The direction set by these policies will play a significant role in determining future rate decisions. 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. We are confident that the RBI's careful and considered approach will support the broader economic goals of the country."

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 favorable environment for the real estate sector, enabling sustained growth and stability. We are optimistic that these measures will boost consumer confidence and investment, providing a robust foundation for future developments."

Vedanshu Kedia - Director, Prescon Group
"We welcome the Reserve Bank of India's decision which reflects a proactive approach towards maintaining economic stability and fostering growth. 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. We remain optimistic about the future and look forward to the positive impact of these policies on the broader economy."

Samyak Jain, Director, Siddha Group
"We commend the Reserve Bank of India's decision and its role in managing inflation and ensuring economic liquidity. The measures introduced are timely and reflect a balanced approach to sustaining economic growth while maintaining financial stability. 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."

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. We welcome the measures introduced, as they are poised to create a conducive environment for the real estate sector. The focus on maintaining liquidity and ensuring favorable lending rates will undoubtedly spur housing demand, benefiting homebuyers and developers alike. We are optimistic that these policies will further enhance market confidence and drive sustained growth in the real estate industry."