RBI’s decision of increasing the repo rate by 25 bps to 6.25% is dampening the homebuyer and developer sentiments.
Quote by Mr. Amit Ruparel - MD Ruparel Realty on RBI Monetary Policy
“RBI’s
decision of increasing the repo rate by 25 bps to 6.25% is dampening
the homebuyer and developer sentiments.
A balanced approach considering
growth of key sectors like real estate would propel the growth of the
economy. With the government’s mission of ‘Housing for All by 2022’, a
cut in the repo rate would have helped to make housing loans more
attractive and accessible thus encouraging the fence sitters to invest
in the real estate market.
From a developers point of view, the
increased cost of commodities, labour along with cost of funding from
commercial banks will be an additional burden further affecting new
project launches and delaying the completion process.”
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