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“We appreciate the decision of the RBI to maintain the REPO rate unchanged for the second consecutive time. Although inflation still remains higher than the tolerance level, it has decreased over the last few months, allowing the RBI to maintain its stance. We believe that this status quo will facilitate positive decision-making for home buyers,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
Realty sector outlook
“Regarding the real estate sector, the trajectory of India’s economic growth will be beneficial. Despite a significant increase in interest rates, the sector has been performing well. Real estate loan demand from both housing and commercial segments has remained strong, despite a 150 bps rise in the base lending rate (MCLR) over the past year. However, we remain cautious about the industry, as the complete transmission of the repo rate hikes to lending rates is yet to be observed,” Shishir Baijal said.
RBI rate pause announcement, a good news for real estate sector
“As expected, RBI has decided to keep the repo rates unchanged for second time in a row. This is a good news for the real estate sector and the outlook for homebuyers who are looing to buy a property via a home loan in near future remains favourable. This announcement can provide a booster in maintaining the momentum in housing sector which has so far been firing on all cylinders,” said Subhash Goel, MD, Goel Ganga Development.
Meanwhile, Banking and NBFC stocks rose today; Bank Nifty jumped 130.95 points or 0.30% to 44,406.25 and Nifty Financial Services (Fin Nifty) gained 47.45 points or 0.24% to 19,585.55. Nifty PSU Bank rose 24.85 points or 0.61% to 4,121.75. On the other hand, Nifty Auto index traded with mild cuts, down 0.1%. Eicher Motors, TVS Motors and M&M traded in the red, with losses up to 1.3%, dragging the index.
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