Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty, Hon. Secretary, CREDAI MCHI
“We welcome the RBIs decision to continue with their accommodative stance. We urge the Central Government to address the deteriorating health of MSMEs and various other sectors which have been severely impacted by the second wave of the pandemic and are still struggling to get back on track. The low interest rates have been a crucial factor in the revival of the demand in the real estate sector. The buyers are already coming back to the market and we feel that the upcoming festive season will be a lot better than the previous years.”
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Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
“The RBI and especially the MPC are to be commended for maintaining an accommodative stance for the seventh consecutive time now. Their approach towards tackling the situation created by the pandemic and steps taken to help revive the economy will go down in history as being one of the finest. The reduction in stamp duty charges in some parts of the country along with the all-time low housing loan rates have given the much-required fillip to sales activity in the last few quarters. The expectation amongst stakeholders of the industry is that the banks should now further sweeten the lending rates, at least till such time that the economy gets back to the pre-COVID levels.”
Mr. Bhushan Nemlekar, Director, Sumit Woods Limited
“On an expected line, the monetary policy committee (MPC) has kept the repo rate unchanged with an extended accommodative stance for the seventh consecutive time that will continue to serve the marketswell. The prevailing low home loan rates are already enticing for homebuyers. It’s high time the banks need to pass on the benefits to the homebuyers. With the interest rates at a record low, the Government will continue taking affirmative measures as long as it is necessary to revive the economy and alleviate Covid-19 impact.”
Mr. Cherag Ramakrishnan, Managing Director, CR Realty
“The RBI’s approach to continue with a ‘wait and watch’ mode is on expected lines to enable the growth momentum that seems to have set in during the last 2 months. With the Covid uncertainty looming, this seems to be a prudent move to allow growth to firmly set it. This has allowed for all-time historic low home loan rates which have played a significant role in reviving the housing demand as compared to the pre-Covid era. The pent-up demand, the opening of economic activities, and continuous Government interventions have also helped in lifting the market sentiments. We feel that the demand for homes will now gain momentum going into the upcoming festive season”
Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers
”RBI maintaining status quo on key policy rates was expected given the inflationary concerns in recent months. The low-interest rates for the last few months have already given a boost to the real estate sector upticking the demand in the last few quarters and enhancing the confidence of the homebuyers. The decision will help to sustain liquidity for some period as we are already witnessing the derailment of economic momentum due to the Covid-19 pandemic and lockdowns in different parts of the country. It will also help in sustaining economic stability as well as keep the real estate sector stay afloat during these unprecedented times.”
