Views from Mr. Ramani Sastri – Chairman & MD, Sterling Developers Pvt. Ltd. on RBI Monetary Policy

New Delhi, October 10, 2021: The RBI’s approach to continue with the status quo is on expected lines to enable the growth momentum that seems to have set in during the last couple of months. For home buyers, this decision will help reinstate confidence and further access to affordable home loans. It also goes without saying that the real estate industry’s perennial hope is fixed on lower interest rates as it improves affordability. Home loan interest rates have already gone down substantially in the recent past, and are presently at an all-time low and property prices have been stable. Hence this is the right time for prospective home buyers to invest. Homebuyers will continue to take advantage of the lowest ever home loan interest rates. The move to reduce interest rates by few banks recently is encouraging and will pave path for robust housing demand further. We are seeing a lot of first time home buyers, who were not able to reach a decision in the previous quarters due to the lockdown are eager to conclude the deal now. There is a healthy stock of ready to move in and nearing completion inventory and that will likely be of high interest during the festive season. Real estate is definitely an asset class that one must remain invested in today and in the long term and looking ahead, we do believe that markets will see sustained growth over the next few years. With improved GDP growth estimated in the near future, we expect that the real estate sector will contribute a substantial share to overall economic development.

Corporate Comm India (CCI Newswire)