A buoyant festive season for the real estate sector
In line with the government’s efforts to revive growth in the economy, the RBI has lowered the repo rate to a record level. This further reduction of repo rate is a much needed and encouraging move and will propel the Indian real estate industry into a recovery drive in the near future. It will now definitely be a buoyant festive season for the sector. This move will ease liquidity and leave more money in the hands of home buyers. Despite the reduction in repo rates by the RBI in the previous reviews, it did not have any significant impact on lending rates. We now hope that the current rate cut would translate into lower EMIs and help soften home loan rates and also boost sales. Lower interest rates, along with other positive reforms announced recently will provide the fillip to end user demand. Since the current and the future market is promising for the end user, such financial decision will definitely help the end user take a decision with the lowering of interest rates. This will also bring back fence-sitters who were waiting for the perfect opportunity to invest in their dream home. Overall, this is going to have a positive impact on the housing market and we expect sales and launches to gain further momentum in the near future.
Corporate Comm India (CCI Newswire)