Property demand to remain buoyant with pause in rate hikes: Developers
Following a series of six consecutive rate hikes, the RBI has maintained the policy rate at 6.5% for the second consecutive time, which is good news for homebuyers and real estate.
Homebuyers seem to be a bit happy that the home loan rates will not get increased at least in the short term, while the real estate sector hopes that it will continue to see higher sales in view of this move.
“This stance taken by the RBI will have a positive impact on the real estate sector, particularly concerning home loans. By maintaining stable interest rates, it fosters a conducive environment for potential homebuyers, enabling them to make informed decisions and take advantage of the prevailing stability. Moreover, this decision is expected to stimulate housing sales and contribute to the overall growth and development of the real estate market,” said Aditya Kushwaha, CEO & Director, Axis Ecorp.
Despite geopolitical challenges, the Indian rupee has remained stable compared to other currencies, which has helped sustain India’s position as the fastest-growing economy. “Looking ahead, I expect interest rates to decrease as the government and regulatory bodies prioritise boosting GDP growth,” Kushwaha added.
