Home loan EMI did not increase due to RBI's decision, real estate sector will get a boost

RBI has not made any change in the repo rate for the fourth consecutive time. This means that there is no possibility of any increase in home loan EMI. After this decision, the real estate sector can get a good boost in the festive season.

The Reserve Bank of India (RBI) has also given relief to the boom in the real estate sector since last year in the third quarter of the financial year. After reviewing the monetary policy, RBI has announced not to increase the repo rate in the fourth quarter of this financial year. RBI has announced to keep the repo rate stable at 6.50 percent. This step of RBI has brought relief to home buyers and the real estate sector. Home buyers felt relieved this year as there was no increase in EMI on home loans. Let us also tell you what real sector experts have to say in this matter?

Home buyers will benefit

During Navratri and Diwali, people often show interest in buying a house. Considering this, this decision of RBI is very good. During this time, Noida Authority and Yamuna Authority are also bringing many schemes. In such a situation, the private real estate sector has also gained hope. Yash Miglani, Director of Migson Group, said that RBI has decided not to increase the repo rate for the fourth time and kept it unchanged at 6.5 percent. This reflects RBI's confidence in the economic outlook. Potential home buyers will directly benefit from no increase in EMI. This step will ensure that the real estate sector will be able to reach new heights without facing any financial challenges. It is a step to provide relief to the common man and home buyer.

Low income group will get enthusiasm

Dr. Amish Bhutani, Managing Director of Group 108, said that the RBI's decision to keep the current interest rates unchanged will reduce the burden on home buyers. This is a hopeful step for the real estate sector. The increase in monthly EMIs last year had shaken the budget of middle and low-income group people to a great extent. People who want to buy a house were facing problems due to increasing home loan EMIs. Keeping the repo rate stable will encourage home buying plans. This is expected to bring a new sense of momentum to the affordable and mid-housing housing segment.

Both residential and commercial will benefit

County Group Director Amit Modi says that not making any change in the repo rate is a commendable step by RBI as it will give a boost to the already growing real estate industry. The festive season is around the corner and buyers are showing keen interest in real estate investment. Stable interest rates will further encourage their participation in transactions. This will encourage a lot of investment in both residential and commercial sectors of real estate.

Growth will be seen in real estate

SKA Group Director Sanjay Sharma says that by not increasing the repo rate, interest rates will remain stable and the development of the real estate sector will accelerate. Inflation in the country is already at a very high level, so this is a big relief for home buyers and home loan EMI payers. Investment in quality real estate projects in NCR is expected to get a boost. The absence of increase in interest rates will also increase the confidence of middle income groups in real estate investment.

It would have been better if the repo rate had been cut.

KW Group Director Pankaj Kumar Jain says that RBI has kept the repo rate unchanged at 6.5 bps, which was already expected. However, in view of the festive season, if it had been reduced, it would have been better for home and other buyers and the sector. Demand for real estate will increase only if the interest rates decrease. However, the RBI Governor has taken this step to keep inflation stable at four percent.

This step will be helpful in reducing inflation

Manoj Gaur, CMD of Gaur Group and Chairman of CREDAI NCR, said that even though the real estate sector was expecting a cut in the repo rate, RBI keeping the repo rate at status quo is a commendable step. The festive season is near and consumers are looking towards buying homes. In such a situation, the performance of this sector will remain good. However, the current repo rate figure is still at an all-time high. Therefore, we hope that RBI will succeed in its intention to curb inflation, and we may see a lower repo rate.