Quotes from Real Estate Industry Players on RBI’s Monetary Policy

real estate, Real Estate Agent in Arizona

The RBI kept the repo rates unchanged to 4% and the reverse repo rate to 3.35% on the monetary policy review meeting today. The decision holds good news for prospective buyers in the realty sector. Here are the views of industry players on the same:

The decision of unchanged RBI repo rate and reverse repo rate is a smart move by the government. The government has taken favourable decisions to support the real estate sector in the past few months which has positively impacted the market sentiments and will improve further in the post COVID era. In the past quarter, the sector has seen a robust response in terms of sales across spectrums. This move will further encourage prospective buyers to invest in the realty sector. – Pankaj Bansal, Director, M3M Group.

We welcome the move from RBI that aims at keeping the repo rate unchanged. This will ensure an easy flow of money to the people in the country. This has given a positive ray of hope to the consumers who require a home loan and looking forward to possessing a new house. As people want to attain satisfaction and security of owning a house during this pandemic, the boost in this desire is given by the constant rate of interest on home loans, which is not going to rise soon. We expect that this move by the government will give another boost to real estate. –  Dr. Kunal Banerji, Advisor to the CMD, Central Park   

The decision to keep the RBI repo rate and the reverse repo rate unchanged is again a great step by the government. With the economy growing post unlock, the housing sector is utilizing the opportunities due to various RBI decisions in the past few months. As a result, the sector has witnessed favourable market sentiments and increased sales in the past quarter. This will further continue to encourage banks to lend money to the housing sector and ensure improved credit flow. We hope to see further seamless support to the sector in the post-COVID era. This will revive cash flow in the country and maintain financial stability.  – Santosh Agarwal, CFO, AlphaCorp.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.