RBI's repo rate hold, growth outlook likely to support steady housing sales
economic growth outlook, is expected to uphold the stable growth pattern in the housing property market.
The ongoing steady growth in transactions for mid-range and luxury residential properties, along with a cautious approach toward the interest rate-sensitive affordable and low-income housing markets, is expected to continue, experts said.
“The Reserve Bank of India's decision to maintain the repo rate at 6.5% and adopt a neutral stance reflects an astute understanding of the complex geopolitical and economic landscape. While a 25basis point cut could have further energized festive sales and buoyed market sentiment, the current approach represents a balanced measure to sustain financial health,” said Niranjan Hiranandani — Chairman, NAREDCO and Hiranandani Group.
He is confident that the upswing momentum persisting past 3-4 years will continue to drive growth for the foreseeable future. A surge in economic prosperity and a rising preference for homeownership have driven formidable housing demand. This momentum is reinforced by infrastructural advancements that are fostering both commercial and residential real estate expansion.
Some developers are also of the view that the decision to maintain policy rates is like a missed opportunity, especially with the festive season around the corner.
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