Inputs on behalf of CREDAI & Real Estate Developers on RBI’s Fourth Monitoring Policy Review

New Delhi, October 05, 2017: Mr Deepak Kapoor, President, CREDAI Western UP, said “The real estate market is witnessing improvement as interest rates are lower and developers are focusing on project delivery. Buyers are more concerned about possession and with the sector focusing on it, the buyers too are showing faith in the projects. Yes lower home loan interest rates help but with this unchanged repo rate there will be no change in home loan rates, but the fact is home loan interest rates are already at an all time low and buyers know it. So real estate sector will not get affected by this unchanged repo rate”.

Mr. Saurabh Jindal, Joint Managing Director, SVP Group, said “It was an anticipated move by the RBI. The effect on real estate will not be much as real estate prices are stable and buyers are enjoying the festive offers. We have seen an increased participation of buyers and hope that the situation will improve in coming months”.

Mr. Prashant Tiwari, Chairman, Prateek Group, said

​”Irrespective of unchanged repo rate, the buyers are already coming to the real estate sector. The sentiments have improved in the last few months and with the festive season on a lot of offers are already there for the ​home​buyer top benefit from the deals​”​.

According to Mr. Owais Usmani, MD, Presidency Infraheights “After the last cut in repo rate, it was expected that this time it will remain unchanged. However, the market is sluggish and we hope to see revival riding on RERA and implementation of GST, which have instilled a sense of trust in buyers”.

Corporate Comm India(CCI Newswire)