Reaction from RICS on RBI’s monetary policy – Sachin Sandhir, Global Managing Director, Emerging Business – RICS

New Delhi, October 05, 2017:  “The Reserve Bank of India has maintained status quo by keeping reporate unchanged at 6 per cent. While the Central Bank’s stance is onexpected lines, we are slightly disappointed that no cuts were  announced. A rate cut could have revived economic growth and would have benefitted the real estate sector as well. We believe the RBI is on a wait and watch mode amidst slowing economic growth and other global headwinds. The RBI governor did express concern over loss of growth, weakness in manufacturing and short term glitches in the implementation of GST. RBI has adopted a cautious stand for now though we believe there is a possibility of a rate cut in December. Impact of the monetary policy on the real estate sector will not be substantial though we are glad to note that the RBI governor called for a rationalisation of high stamp duty rates by states. Lowering stamp duty rates will reduce the overall home buying costs for buyers and will stimulate home sales”

Corporate Comm India(CCI Newswire)