– Ramesh Nair, CEO, India & Managing Director, Market Development, Asia at Colliers.
RBI continues to maintain an ‘accommodative’ stance keeping the repo rate unchanged yet again at 4% in its monetary policy meeting in Feb 2022. This support is needed for sustained recovery in economic growth. At a time, when the market was expecting a hike in reverse repo rate and change in stance of the Central Bank to ‘neutral’ to be a precursor to future rate hikes, the ‘status quo’ of the Bank comes as a breather for the real estate sector. In the absence of the specific demand-side interventions from the Budget 2022-23, prospective homebuyers can continue to benefit from lower home loan interest rates which are here to stay for now.”